Did you realize that you could make money by paying someone else's property taxes? Thirty-one states provide a little-known investment opportunity that might be ideal for you.
You could also see an annual interest return from 18% to 500-watt.
The returns are available through tax lien and tax deed certificates sold by the state. Tax liens are added to a property once the real-estate taxes are late. Many local authorities auction the liens off to people a couple of times per year as a means to get their owed money. These are called tax sales.
As an example, if Mr. Jones owes $2,000 in real-estate taxes and hasn't paid it, the county will place a lien on his home. Sooner or later the loan may be auctioned to an individual. The individual may get the lien for $2,000. The state gets the money it needs right then. The treasury o-r finance department will begin pursuing the cash from the delinquent tax payer. Nasty little notes are sent by them, warning them of future activities. They demand interest levels and charges all the way to 50-years. The municipality are able to change and pay the buyer a large return.
You can find these investment opportunities through your local treasury o-r finance department. There's also many websites that keep the info in a up-to-date collection. You could have to cover the data. Here is a provocative resource for more concerning the inner workings of it. The simplest way is to contact the local department as opposed to spending money on a national service.
These are short-term investment opportunities. After-the lien has been auctioned off, the region allows the master know that they may lose their house to the lien certificate owner if they do not pay the fees, interest and charges. This provides the master another chance to keep the property and pay the bill. Should they do not pay, the lien certificate holder can foreclose on the home.
In a few areas, the government will forego the investment opportunity and outright sell the tax deed for the property. This implies if they do not pay the fees, you're the owner of the home straight out.
There are many stories about making a fortune buying tax actions. A man in Oklahoma is rumored to own purchased land for $17 in a tax sale only to offer it for $4,400.
Many people have been happy, but there