People are making fortunes investing in tax sale property
June 14th, 2008
If the property owner fails to pay the tax the county government places a lien on that property. In fact, thousands of people all over the US are quietly making fortunes investing in government guaranteed, high yielding tax liens. In markets where housing has taken its biggest bite out of the economy, there is an air of uncertainty. A smart real estate investor looks for bargains in real estate; a diamond in the rough. But trying to find these bargains can be difficult to do. Country controllers, city auditors and local government leadership is trying to find ways to keep things moving and services strong, even with the dwindling of tax receipts from lackluster retail and auto sales, plus slow pays and property tax value re-adjustments. Meanwhile, the local governments are providing services to illegal alien and those costs are mounting as well. It’s true, property tax liens usually pay an above average rate of interest (it varies from state to state) and the lien is secured by some kind of real estate. Property tax revenue is the life blood of small towns and communities across the USA, representing 85% or more of county budgets. Some of the properties will need some minor repairs, but you can find real estate property for pennies-on-the-dollar.
Entry Filed under: Business