(MENAFNEditorial)
MERRITT ISLAND FL - Many people are surprised to learn that investing in property taxes is legal profitable and fairly easy to do said a noted expert in the field.
“Communities around the nation have delinquent property tax sales. When people don’t pay their taxes the local tax collector sells these taxes and the attached property at a public auction” said Ted Thomas a globally known past-due property tax investor. “There are three things you need to know before you start this kind of investing.”
The first thing to know is there are two kinds of sales: a tax deed and a tax lien. In the deed auction the buyer gets nearly immediate rights to the property. In the lien sale the buyer is buying the tax and has to give the owner a certain amount of time to redeem or repay the taxes and keep the property.
“More than 90 percent of properties are redeemed. The tax buyer gets his money back plus a hefty interest charge” Mr. Thomas said. “Most people who invest in property taxes want the interest. They do not want the home.”
The second thing to note is this is a government-ordered sale. This makes the investment safe he said.
“These auctions have to be safe and have to be profitable for the investor. If people couldn’t make money they wouldn’t invest. If it were not safe they would not invest” he said.
The third important matter is research. Mr. Thomas said people need to check out the properties for sale before the auction comes up.
“You will see properties listed that have years worth of back taxes. These are not a good buy. The property could be tiny or it could be wetlands. The owner doesn’t want it and no one else wants it either” he said. “Make sure what you are investing in is actually worthwhile.”
Mr. Thomas’ website is packed with advice and tips for anyone interested in learning more about how to invest in distressed real estate. He offers a series of free videos at the website.
ABOUT TED THOMAS - Ted Thomas is a recognized expert in the field of property tax and distressed real estate investing. His website offers free information on how to get into this field of finance.
Media Contact:
Ted Thomas
info@tedthomas.com
321-449-0040
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.