One of my new bird dogs is a young Asian girl named Mai. She just sent me a list of Tax delinquents in my city and the surrounding towns. She got online and downloaded this list.
It seems most of the back taxes owed are under $5,000 some are up to $20,000
Now, the old gears are turning in my cranial, well, I had to remove some cobwebs first. But I’m thinking there cud be some motivated sellers in this list, and since my City and County are huge, the list is very big.
Time to get to work, Anybody work this list before? I could use some feedback.
Rando
Hi Rando,
I am positive some years ago I wrote about delinquent tax properties as potential motivated sellers for wholesalers!
The process for wholesaling is exactly the same but need escrow / title to handle the closing and pay the tax bill to clear title!
People who can not pay their property taxes are good motivated sellers!
Good luck Rando,
GR
Tax delinquents are no different than any other distressed seller. One of my students just picked up a tax delinquent property for only the back taxes. The owner actually thought it had already gone to tax sale. They are following up on a few more properties and both are tax delinquent. One of the main things that I have found and teach is that most people dont understand the process and timelines for a tax default turning into a tax sale. What I do is print out the details of the tax sale and show them to the owners. I can print them right off my county website and it shows how much is due and clearly states “Property is in tax default and can be sold without notice” Once they seee this it becomes a reality. If you just show up and tell them they are less likely to believe you…