Tax Lien Foreclosures
No eligibility criteria There arent any eligibility or income limits for buying tax foreclosures and therefore anyone interested in making some profit in the real estate market can take the plunge.
High returns Most homeowners take a considerable amount of time to pay their tax dues to the government once their property has been foreclosed which results in a high profit return for the person who has bought the tax foreclosures as he gets his investment as well as the accrued interest.
Low starting capital investment you do not require a lot of capital to invest in tax liens. It is possible to get a tax lien for less than 1000 $ and this is much less than in every other investment scenario.
Low investment In contrast to most real estate investment which involve high investment costs, one can buy tax foreclosures at rates even lower than $1000 which makes it a good opportunity for first time real estate investors.
While most properties are foreclosed due to defaulted mortgage payments, tax lien foreclosures on the other hand are different and relate to nonpayment of property taxes. When a homeowner doesnt pay his property taxes the government places tax lien on the property which gives it the authority to auction the house through the process known as tax lien foreclosures.
The furniture that youre using part time for business purposes can also be partially tax deductible. You get this deduction by depreciating a portion of the total cost of the furniture over a period of years.