| If you invest in property, you've got to start investing in | | | | The timing here is extremely important. If you catch |
| government foreclosure homes. In the current | | | | these owners at the right point in the process, you'll find |
| economy, they're plentiful, cheap, and often free and | | | | they're willing to sign their deeds over to you for |
| clear. However, bidding at tax auction is no longer an | | | | pennies on the dollar. Some will even offer to give their |
| option. There are no good deals to be had due to | | | | deeds away. |
| competition. Luckily, it's not necessary to attend auction, | | | | If owning government foreclosure homes doesn't |
| and you can almost always get a better deal on | | | | sound like your cup of tea, but you still want |
| government foreclosure homes outside of the auction. | | | | real-estate-sized paydays, you make find tax and |
| The auction will actually work in your favor. By waiting | | | | mortgage foreclosure sale overages interest you. |
| until after the tax sale, you can weed out bad | | | | When more is bid for these properties than was |
| properties by seeing which didn't get any bids. Then, a | | | | owed, the overage is generally held for the owner. But |
| few months before the end of the redemption period, | | | | the owners rarely collect. Why? They've moved on |
| check and see which of the properties that did get | | | | and can't be found at the old address, they don't know |
| bids still isn't redeemed. These will be your target | | | | about the overage, or usually, both. |
| properties. | | | | Overages' existence is not common knowledge |
| What comes next is easier than you can imagine: | | | | amongst money finders. So why not get into the |
| simply contact the owners, and see what they are | | | | "found money" business? You can charge 30-50% on |
| planning to do. Most will tell you they've decided to let | | | | these funds, and there are tons of them out there. Find |
| the property go - either they can't pay the taxes or | | | | records of overages, find their owners, and connect |
| just don't care (more common than you might think). | | | | the two for huge finder fees. |