Although it is widely know that Tax Deed sales are a great investment option, sometimes the competition can get pretty high, depending on what county you are investing in.
But there is another alternative to cashing in with Tax Deeds.
This method can be conducted form almost anywhere with WIFI – as well as it being one of the best ways to get started in Tax Liens and Deeds, without putting up your own money to get started.
These are called Tax Deed Sale Overages.
When bidding happens on a property, the government takes only what is necessary to cover the starting bid (Which is back taxes, fees, and other minor expenses associated with the sale.).
Anything on top of that is an overage.
This overage is collected by the county, and held for the homeowner for a specific amount of time before it gets lost permanently to the county and used for county purposes.
It is often assumed that the homeowner loses everything when the property goes to a Tax Deed sale, but this simply isn’t true. There could be a large amount of money waiting for the homeowner to collect after the sale.
These specific funds don’t get hit with a finder’s feed because they are not held by state agencies.
So, that being said, the finders fee you are able to charge to the people whose money you get for them is 30-50% per transaction. And generally, the homeowners are glad to pay you that fee, as they would not have had the money had you not had shown them where to look!
Not a bad way to get starting in my books.
So how can you find out about these?
As always, its good to check in with your county/state to see what restrictions or rules apply in regards to this and how you can work together with the homeowner to get this money back to them.
If your looking for another way to bring income in, be sure to check this out – It’s another tool to add to your arsenal of investing tricks : )
Thanks so much for reading today’s post – I’d love to hear your thoughts, so comment below with wisdom you took out of this, and share this if you think someone could benefit from it!
