There are other ways to use tax liens as an investment.
There are other ways to make money off tax liens than just investing in tax liens themselves. Read the article below to find out all about a loophole you can use to earn money from tax lien investing. It goes over some great information that will guide you in the right direction.
Pretty much everyone is into tax lien investing these days, thanks to a number of infomercials claiming you can make easy money that way. It’s understandable; tax properties are a great way to make money, especially in today’s economy; but the field’s getting so crowded that everyone’s piece of the pie is getting smaller and smaller.
And admit it. You don’t really like it anyway. The competition sucks. It’s boring waiting month after month, year after year, to see if you get paid off and make your money, or if you’re going to be forced to foreclose, and own what’s potentially a rat-infested dump, that you’re then going to have to sink a lot of cash into to get rid of. Tax lien investing isn’t for you anymore.
That’s okay! There’s a much better way to make money from tax properties, without ever owning the property. You don’t need much money to do it, just a few hundred dollars; there’s pretty much no risk; and best of all, there’s no tax lien investing involved, whatsoever. And you can work it remotely from wherever you are, even if you’re in a foreign country.
In many states, when tax properties are sold at auction, the overage created from the bidding – that is, the money bid over the amount of taxes that were originally owed – is immediately lost to the government. It goes to the state school fund in many cases, so at least it’s not going to buy the governor a cushier office chair. Even so, unfair to the original owner, to say the least.
But in many other states, that money is held in trust for the owner. It’s often as simple as filling out a form, showing some ID, and getting cut a check for the remainder in a few weeks.
The problem? Most owners don’t realize this is what happens. They’ve bailed on the property, assume that they’ve lost everything, and have an overage of many thousands, sometimes hundreds of thousands, of dollars sitting in the government’s cash book that they don’t know about it.
Here’s where it gets bad.
If they don’t claim it within 1-5 years in most places, it’s lost. Permanently. Just like in the other states. No recourse, no going back, all that money is just gone, sucked into the governmental vacuum.
That’s where you come in.
Reconnect these owners with their funds, take a 40-50% finder’s fee (these funds are not subject to finder’s fee caps in most states), and you’ll see checks coming in monthly that put your earnings from tax lien investing to shame. Not only that, but you’re providing an invaluable service to people delighted to be getting (much-needed, in most cases) money. Your competition doesn’t know about this, and in today’s economy, these overages are being created literally every day.
Article by Maggie Dawson
It’s key to understand how to approach claimants so they can’t avoid your fee. Read the *free* Hooked On Overages “Insider’s Guide” Click here now: http://Tax-Sale-Overages.com.
Leave a Reply