Sunday, February 1, 2009

make money idears series 4

4. In some states, if you don't pay property tax, the county can sell your property at auction to pay
for the back taxes. So obviously there's some money to be made here. I've heard of nice 3-bed-
room homes selling for $1,500 or so, and then being resold quickly on the traditional real estate
market for $50,000. The amazing thing is, not many people are actually doing this, partly because
information about how to do it is scarce. All you really need to do is get on the mailing list at each
county clerk's office so that you will be notified whenever there's a tax sale. Then, you just show
up at the courthouse, or wherever the properties are being sold, and register for a bidding number.
Obviously, this requires a little bit of capital to get started, but not much, and if you reinvest your
profits, your income will increase exponentially.

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