They aren’t making any more land and people always will need a place to live. Real Estate is sure fire way to make an incredible income on your own terms. Buying public seized properties can be a great investment for the average investor. There are several warning signs a novice investor should look into before buying these type of properties. If you want to know the warning signs, and signs of a good deal, stay tuned
Sometimes the back taxes owed on these properties can exceed the value of the property itself so do your research. You also need to look into zoning restrictions as well. Some zoning restrictions may restrict development
Even if you won the deal of the century, the previous owner can still pay the back taxes owed and regain rights to his home and cause the title to be unclear. Make sure you investigate where the home is located. Don’t buy home in deteriorating neighborhood. Try to get homes located in undeveloped areas that will be be developed in the near future. If you go to local zoning meetings you can find out all of this information in advance.
When you investigate be sure to do this in secret. If you alert other potential bidders to your whereabouts they may do some research as well. Ask for prices of similar property nearby to get a ruff estimate of the homes market value. The best way to find information is to contact your cities local tax collector for more details.