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Re: Re: Re: OT---BUYING UP PROPERTY TAXES
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Posted by Rusty Jones on December 26, 2003 at 11:55:01 from (209.195.140.71):
In Reply to: Re: Re: OT---BUYING UP PROPERTY TAXES posted by Slowpoke on December 25, 2003 at 16:46:08:
I have a friend here in Pennsylvania who buys up tax delinquent property at Sheriff sales. I'm not sure of how this works, but i think the owner has a short period of time to pay up the money owed, and court costs, then if they haven't paid up, the high bidder gets the property! He's made a pile of money with this!
But, not to be a Scrooge, he'll tell the former owner: "I'll buy the materials for fix-up if you'll do the work." (If able) Then he charges them less money for rent than the mortgage payment was, and they can live there as long as they want, with him paying for repairs as needed. Then, when they move out or die, he can sell a nice house for a profit!
RJ
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