If you're considering investing in property, or already are but are finding your profits leave something to be desired, fear not.
Here are two property investment tips that will ensure you profit more while toiling less.
1.
Buy tax foreclosure property, but only after the sale, and directly from the owners.
Did you know you can legally buy deeds from their tax delinquent owners even after the tax sale has already occurred? Most investors focus on the time leading up to the tax sale (or worse yet, try to compete at the tax sale) but mystifyingly don't contact the owners afterwards.
The redemption period is the best time to approach them - as the time when they will lose their property permanently approaches, they will be more primed to sell than any other time in the process.
It's during this period that you will pick up deeds for a tiny fraction of their value-- sometimes, even for free.
2.
Don't neglect to go after the overages created by the tax sale (and the mortgage foreclosure sale).
When more is bid for a property than is owed in debt, that overage is held by the government for the previous owner to collect.
They almost never figure this out.
These funds aren't governed by state law, so there is no cap to what finder's fee you can charge, and 30-50% is standard.
You can put these two property investment tips to work hand-in-hand.
You deal with many of the same agencies for both and may have even run across some of these overages, if you have any tax foreclosure investing experience.
If you can put a full-time effort into both areas, you can create a very lucrative career for yourself and have five-figure checks coming in regularly.