| Government foreclosure property is not a secret - | | | | tens of thousands of dollars. |
| tons of new investors bid at the tax sale every month, | | | | Unfortunately for the former owners, the government |
| especially in the current economy. Buying tax sale | | | | often doesn't work too hard to notify them of their |
| property at auction seems like such an easy way to | | | | money, and they often assume they've lost everything. |
| make money. The truth is, it's extremely competitive | | | | One of the easiest ways to make money in the |
| and often risky. If you are going to invest in | | | | government foreclosure business is to reunite these |
| government foreclosure property, it's best to try to get | | | | owners with their money for a finder's fee. Since |
| it from the original owners before the end of the | | | | these funds aren't subject to state finder's fee limits, it's |
| redemption period after tax sale - but you don't have | | | | standard in the industry to charge 30-50% - and |
| to buy properties at all to make money from | | | | owners who would have lost it all otherwise are more |
| foreclosure properties. | | | | than happy to pay these fees. |
| So how can government foreclosure property make | | | | If you can locate these funds and their owners, you |
| you $100,000 a year? By collecting finder's fee's on | | | | can easily expect to earn in the high four- to low |
| overages. | | | | five-figures monthly. Yes, monthly. With the number of |
| When a property is sold for more than what is owed | | | | foreclosures happening every month, these funds are |
| in back taxes (or back mortgage, in the case of | | | | being created left and right. Most states don't have |
| mortgage foreclosures), the overage funds are usually | | | | licensing requirements to operate as a money finder, |
| held by the government for a short period of time for | | | | so just about anyone can make a good living at it if |
| the former owner's benefit. If he or she doesn't collect, | | | | they're willing to put in the effort - and you never have |
| usually within a year or so, the government gets to | | | | to actually own the deed to a single government |
| keep the money. These amounts routinely run into the | | | | foreclosure property! |