Buy Homes For Back Taxes Now – The Foreclosure Rate Won’t Last Forever – Buying Home

If you have been hemming and hawing about maybe getting involved in real estate taxes, you better get over your reservations and buy homes for back taxes now. The recession has caused an influx of great property into the market, but if you don’t act soon, you’ll find you’re kicking yourself for not just taking the chance to make some great money while you had it. Here’s the best way to buy homes for back taxes, even if you’ve only got $1,000 or less to invest.1. Opt not to buy back tax homes at auction. Too much bidding and too much risk make this a poor deal. Properties get bid up far too high to be profitable, and you can’t inspect the property beforehand. You’ll want to buy homes for back taxes directly from the owner, outside of tax sale.2. Wait until after the tax sale to buy. Before tax sale, owners are still trying to pay off their taxes. By about nine months after tax sale, they’ve only got a few months left to redeem. Those that can, will have already. The rest are going to have to sell, and sell fast, if they want anything out of the property.3. Call the owners. See what they’re planning to do with the property – most of the time, they’ll be totally up front with you about what’s going on. If they’re planning to let the property go, ask if they’d be willing to sign the deed over to you so you can see what you can do with it. If they want to sell, negotiate. If you can’t reach a price you find to be a stellar bargain, offer to buy the deed for $10 plus a percentage of what you get from selling it.4. Flip the property to another investor. With so little invested (especially in the $10 scenario), you can afford to sell the property for dirt cheap and still walk away with $10,000-$20,000 or more. Price the property low enough that investors will be beating down your door. This is the easiest and fastest way to make a risk free profit.5. Or, pay the property taxes and fix up the property/sell it for retail. The other option is, of course, to hang on to the property until you can sell it for its full value. Up to you.Whichever of the last two routes you choose, you’ll walk away from the deal a winner. By investing so little you take very little risk – even if for some reason you can’t sell the property or pay the taxes, you’re out almost no money. With the current rate of foreclosure, the opportunity in this field is virtually endless.

How to Buy Homes For $1,000 and Get Wealthy – Buying Home

How would you like to buy homes for under $1,000? What if I told you that not only is it possible but easy. Few people realize that buying homes for pennies on the dollar can be done. Use these secret techniques to buy homes now.Buying tax liens is your ticket to these great deals. All counties and states sell tax liens to anyone that has the money. Simply the way it works is when a homeowner cannot pay their real estate taxes a lien is placed on their home. When the lien still does not get paid for some time later it is auctioned to the public. The investor then buys the lien and will get paid back with interest by the homeowner. Should the owner not pay the investor back the money owed the house becomes the investors.Many times the house become the investors for a few hundred to a few thousand dollars.1. Research Online – Every county and state has tax lien sales and they make the information public online. Many investors never step foot on the property they are bidding on to make the loans. The liens can be bought right online without any other work.2. Go to Auction – In addition to online investing, you can also go directly to tax lien auctions and bid on the public sales. Some areas do not have online bidding so you may have to go to the property itself to make your bids.The only requirement in investing and potentially getting a house for almost nothing is that you buy the tax lien with cash. Anyone has the potential to buy these homes for under a $1,000.

How to Buy Homes in Foreclosure Without Attending the Auction For $200 Or Less – Buying Home

Even if you’ve only got a few hundred dollars to start out your real estate investing career, you can join the ranks of the real estate investing elite in no time investing in the smartest property, the smartest way. Here’s how to buy homes in foreclosure without attending the auction, for $200 or less.First, forget buying tax property at the tax sale. You’ll never be able to buy homes in foreclosure inexpensively there. The bidding process ensures that (it’s designed to). Desirable properties will sell for close to retail value, not to mention you can’t inspect property beforehand and have to come up with your entire bid on the spot, in cash, if you do win. Then you’ll wait to see if the owner redeems the property, which he usually will. Do this instead:1. Wait until after tax sale, and use the information you glean from the results guide you to good property. Tax sale companies that buy homes in foreclosure do a lot of research beforehand – use it to your advantage. Homes that got a lot of bids are the ones that are the best deal. Make a list of the good properties.2. Nine months into the redemption period, see who still hasn’t redeemed. If by this point the owner hasn’t redeemed, he probably isn’t going to – but he still needs to sell that place quick if he’s going to avoid losing it to the winning bidder at tax sale.3. Contact the owner directly, and see what’s up. You’ll be surprised how willing these people are to tell you exactly what’s going on with the property (and other things in their lives!) – and they are very motivated to sell at this point. You can negotiate a very low selling price with these folks. Or, if you’re operating on a very limited budget, you can make a deal to buy the deed for $100, and then a percentage of whatever proceeds you are able to get after flipping the property.You’ll find another very profitable subset of tax delinquent owners as well – those that are just letting the property go, without trying to sell it. They don’t care about their deeds. By politely asking if they might consider signing the deed over to you so you could see if you could do something with it, you’ll pick up deeds for literally nothing this way. Sweeten the deal by offering $100 for their time to sign the paperwork, and you’ll be swimming in deeds.4. Take out your profits! Either pay the taxes off on these properties and keep them (they’re almost always free and clear properties by this point in the process), or price the property so far below market value that you’ll have investors and buyers knocking down your door to buy. Then you can walk away with thousands in profit for your efforts, without ever having to pay the taxes off.This method is the only guaranteed way to buy homes in foreclosure for almost no money. The recession has caused a lot more properties to go into foreclosure, so the market’s ripe for entry right now.

Why Buying Homes For Sale May Be Your Best Investment Yet – Buying Home

Investing in the real estate market offers many distinct advantages. With adequate planning, the right attitude and business sense, you can flourish in this business. When looking for ways to improve your finances, buying homes for sale can actually provide you with relief from endless worrying over your financial dilemma. Not only is the current market very ripe for indulging in an investment but that there are also a lot of opportunities that you cannot afford to miss.Home OwnershipOwning a house is everyone’s dream especially if you have a growing family. With many great foreclosures bargains available in the market today, it is easy to find the right property for you and your family. And contrary to many beliefs that many of these homes are located in ugly neighborhoods, there are actually many foreclosed homes for sale which you can find situated in prime, decent communities. It is not surprising anymore to find a nice cheap piece of property within a classy neighborhood that is close to many business establishments, service centers, and schools.House FlippingSince you can get a lot of foreclosures for up to 70 percent less than their actual value, there is a huge potential in buying homes for sale and reselling them for a profit. This is known in the market as house flipping. Basically, a house flip business involves buying a distress property or those that are in danger of facing foreclosures, performing some house repair and probably a little remodeling and offering them for a profit to another subsequent buyer. Cheap fixer upper homes and handyman specials are perfect for this type of business.Rentals BusinessMany investors also find that there is a huge potential to a rentals business when buying homes for sale. Those who are engaged in this business often prefer multi-unit homes, duplexes, triplexes or even mobile homes because of a number of reasons. Foremost to these is that they are usually cheaper than a regular-sized, traditional home and much easier to maintain. With the right business sense, you can easily turn these properties into profitable rentals business. You just have to choose the right neighborhood to ensure that there is a demand for such service in the area.

Buy Home Fast – What Went Wrong with Subprime Loans? – Buying Home

Common assumptions assert that the fallout of the subprime mortgage crisis only involves borrowers with shady credit who couldn’t really afford a home in the first place. In reality, there are plenty of people with decent credit that are also stuck in the subprime mess.The Wall Street Journal analysis of over $2.5 trillion in subprime loans made since 2000 shows that as subprime loans grew increasingly popular, an escalating percentage of them went to people with credit scores high enough to qualify for conventional loans. According to the study, a significant number of borrowers with excellent credit signed up for expensive subprime loans.The astoundingly large number of subprime loans among financially sound borrowers portraits just how far subprime mortgages have extended into the economy.Because major banks, mortgage companies, and investment firms, have been hit with billions of dollars in losses, remedial plans have been rolling out by everyone from congress and the Bush Administration to major financial institutions in hopes of stemming an even bigger meltdown in 2008.The Wall Street Journal’s analysis also calls mortgage-lending practices into question. Many borrowers in good credit standing say they were pushed into subprime loans by aggressive marketing tactics by lenders who offered faster, easier approvals while downplaying higher reset interests rates and more stringent payment terms.While there aren’t concrete rules on what defines a subprime loan, they are generally riskier than traditional fixed mortgages and carry a low introductory rate that gets reset to a much higher interest rate several years later. Credit score are one key factor in determining what type of loan a borrower qualifies for. Credit scores can run anywhere from 300 to 850 with 620 being the median score. Those below the median score are typically unable to qualify for prime loans, while those above 620 usually qualify, unless they are seeking more money than they can afford.Because of rising home prices and the growth of lenders specializing in subprime loans, an increase in subprime loans for all types of reasons, including borrowers with good credit scores, was inevitable.Furthermore, many borrowers were expecting to refinance within a few years to avoid rate resets. But due to plummeting home prices and tight lending standards, refinancing has become improbable to many borrowers.Another study conducted between 2004 and 2005 by the Federal Trade Commission found that a large number of borrowers were confused by mortgage stipulations and didn’t fully understand the terms of their mortgages. Many borrowers had loans with significant restrictions and harsh penalties they were not aware of when signing for the mortgage.However, lenders claim they aren’t responsible for reckless borrowers who may have made poor real-estate investments with subprime terms.But the situation also indicates that many good credit borrowers are stuck with subprime loans whose costs will rise with scheduled resets, which could impair them financially and further weaken the U.S. economy. Delinquency rates for these loans are escalating because many of these loans included risky standards such as no documentation of the borrower’s income or assets. Most subprime loans were made to first-time homebuyers or to investors who planned to quickly flip the homes. The analysis also concluded, “These loans suffered in many instances from poor lending decisions and misrepresentations by borrowers, brokers and other parties in the origination process.”