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How to Play "Real" Monopoly!
Ever played the game Monopoly by Hasbro? If so, you either have good memories or bad memories usually depending on who was the banker! Well, when you invest in Real Estate, it is kind of like the game of Monopoly and good investing can be very rewarding. On the other hand, investing in Real Estate may not always lead to the big gains you are seeking. Notice to those whose interest is to solely "Flip Properties". However, with the right tools and the right plan, Real Estate investing can be really WORTH your time!
Hot New Investment!
Smileehouse
Tax Deed or Tax Certificate?
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There are many ways to profit in Real Estate investing. One way is to buy Tax Certificates and Tax Deeds. But you must understand the difference between the two! One gives you up to 18% interest if you live in Florida and the other gives you actually OWNERSHIP of the Property. Big Difference.
Tax Certificates are available for all properties in a County and taxes are collected on all of those properties to pay for schools, playgrounds, etc in the County. When property owners are delinquent on their taxes, those certificates for that tax year may be bought by anyone and that person will be paid interest up to 18% per certificate they purchase.
Tax Deeds are awarded after a Tax Deed Auction to the highest bidder of the auction or the owner of the Tax Certificates from the previous years after receiving judgements from the Clerk of Courts of that County. If a Tax Certificate owner chooses to foreclose on the property after the appropriate time, if they have no bidders they are awarded the property and or the Tax Deed owners of the property.
Decided or Undecided?
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Tax Certificates and Tax Deeds are a little more complicated than what I explained, however, with enough research and patience you can navigate the right path for you! Happy hunting you adventurous Entrepreneur! You can find more information at your local Clerk of the Courts Office and websites like propertyonion.com can help you identify potential properties in your area!
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