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What If I Don’t Have A Lot Of Money To Invest?

One of the most common excuses that you may hear when speaking to people about investing in tax delinquent properties is that some folks think that they aren’t ready to get started. They think that they need thousands or tens of thousands of dollars to get going and that there are no good deals for anything at a lower price.

Have you ever felt that way?

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What would you say if someone told you that it was possible to start investing in tax delinquent properties right now, today, with only a few hundred dollars to your name? It’s all about knowing how the system works and using the fine print to your advantage. Here’s an example.

You could start with the method of contacting tax delinquent property owners directly and avoiding the public auctions, using the names and addresses of tax delinquent property owners from the list that is published in a local newspaper and get in contact with them.

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Many tax delinquent property owners are dreading the idea of paying off back taxes on a property that they may not even want in the first place, so imagine the pleasant surprise when you show up and offer to take it off their hands for a token payment of a few hundred dollars. Not only have you just erased this debt for them, improving their “credit”, so to speak, and letting them sleep better at night, but you have also put some money in their pocket that can be used to go out to eat, go shopping, or to help with other bills. But now you are the one stuck with the debt, right?

Not necessarily.

Here is where paying attention to the fine print can help you out. All you have to do is ask the title company you are using to give you an exemption for non-payment of property taxes. Such an exemption means that you get to buy the property for only the token payment that you will give the property owner (which could be just a few hundred bucks). Then, you go on to assume the back taxes, but will not actually pay them right at that moment.

Most title companies will look at you a little strangely if you ask them for such an exemption, but be insistent. Eventually, they will agree that this is possible and will allow you to do so. Basically, with that exemption, you are now insured for all the things a title company insures you for except the back taxes. Then, when you are ready to flip the property, you sell it “subject to” the outstanding back taxes, meaning that whoever buys it from you also assumes the back taxes and will be responsible for paying them off.

So you needn’t hold back from investing in tax delinquent properties just because you don’t have a lot of cash to get started with. With just a small amount of money you can purchase a property and then flip it for a great profit, all without having to shell out too much from your pocket in the meantime.

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