Profiting
From Tax Foreclosures - Why You Shouldn't Feel Guilty About It
By Maggie Dawson
If you're thinking about getting into the field of foreclosures investing,
whether you want to buy tax foreclosures or simply make money from finders
fees on tax sale overages, you've almost definitely run into someone, or
many people, who have tried to make you feel like a jerk for "profiting
off of others' misfortune." These people are fondly referred to as
"haters," and you shouldn't listen to them. Here's why.
1. "Profiting from the misfortune of others" is a misnomer in this
case. The person losing his property due to non-payment of taxes is
going to lose his property regardless of if you profit off it or not. When
you purchase a property at tax sale, you are purchasing a property from
the government. It's not as if the homeowner gets to stay in the home if
no one buys it.
2. In many cases, you can actually help the tax delinquent owner by
buying his property. Many buyers continue to hold onto property well
after they should have found a way to bail out. By waiting until last
minute, they stand to lose everything. If you step in and offer to buy,
yes, you'll get a good deal and probably profit from it. But you also
allow the owner to walk away with something.
3. The people you deal with when buying tax foreclosures are not,
for the most part, little old ladies who will be thrown out on the street
come foreclosures time. They are people like you and me, who made bad
financial decisions that resulted in their property going to tax
foreclosure. They made their bed; now they're lying in it. They've all had
the chance to sell their properties to get out of debt, chose not to, and
the consequence is that now the property is being sold to you.
The worst example of "haters" is people who act judgmental about
collecting finder's fees for tax sale overages. Since these finder's fees
often are 30-50%, everyone wants to scream about how unfair that is. The
truth is, it's hard work finding records, locating owners and dealing with
the government to get the money released. And without money finders, these
owners would never even know about the money in the first place.
Let's be clear. People who make you feel guilty for profiting from tax
foreclosure are negative energy suckers who like to complain more than
they like to take action to improve their own financial situations. These
types of people talk without knowing much about what they're saying, and
they have a way of getting under your skin. Ignore them, and go through
the experience for yourself. You'll find owners of tax property to largely
be grateful when you buy their property, and especially when you reconnect
them with their (time-sensitive) overages - which can be $10,000, or much
more.
So, how to find records of these funds, and find their owners? Easy,
read the *free* Hooked On Overages "Insider's Guide." Click here now:
http://Hooked-On-Overages.com.
Interested in buying property directly from owners? Read "5 Days to
Getting Tax Sale Property for $200 or Less." Click here now:
http://Deed-Grabber.com.
Article Source:
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