Tuesday, November 20, 2007

Ultimate Real esate strategy?

How to capitalize off of real estate in a bad market? You may say buy foreclosures and you would be right but I am going to give you an strategy that you can make out like a bandit.Foreclosures you can make money but sometimes still encompass liability such as mortgages and property taxes. So here is wen my strategy comes into play and it is called tax lien certificates. WOW! you never heard of a tax lien certificate.well let me tell you with one of these you can lose. so what is an tax lien certificate? this comes from individuals not paying property taxes and the government seizing property and offering it up to the highest bidder. So what makes this so good? because bidding usually starts at the property tax that was not paid and tax liens auction are the least saturated auction you can go to having thousands of tax liens left after the auction is over. Another plus about tax liens is it usually a two year certificate and basically the person who has not paid their taxes have two years to pay their taxes before they lose their house to the tax lien purchaser.they can pay up to 36% a year (Illinois which out state people can access from online auctions)to get out of the red with the government and if they don't pay they lose their to the tax lien recipient which by default or government statuaries claiming that lien extinguishes all mortgages any debt the property has on it . So basically you can purchases a house that is less then some down payments .


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