I’m Ted Thomas, and I’ve been in the real estate business on a part-time and full-time basis over the past 30 years.
I’m going to show you a business that you can do part-time and make full-time money. Also, I’m going to show you a real deal.
So let’s talk about how to do real estate part-time but earn full-time money.
Want to learn how to make big profits in real estate? Would you like to buy mortgage-free homes online for pennies on the dollar? Or earn double-digit interest rates secured by real estate? Then you don’t want to miss this FREE Mini Course.
An Example of Full-Time Pay for Part-Time Work
To start with, I’ll give you an example from my files from the state of Georgia. After my training, this particular individual purchased over 100 bargain properties at tax defaulted auctions. You could do the same thing, but you won’t do it all at once. You’ll do it over time. He did it over 20 years.
Working part-time, this student purchased a single family residence for seven cents on the dollar. That property had no mortgage and no deed of trust loan. Seven cents on the dollar, think about it, that’s pretty good.
Investing in Tax Liens and Tax Deeds
For the past three decades, I’ve been specializing in a subset of traditional real estate called tax liens and tax deeds. These are properties that are sold at auction with starting bids at very close to the back taxes and without a mortgage. How about that?
Now of course, that sounds impossible, but this is the real deal and it’s been around for over 200 years.
Tax Defaulted Property Auctions in Georgia
Tax defaulted auctions take place on the second Tuesday of the month in the state of Georgia in all counties. There are 169 counties in Georgia, and they’re all authorized to have an auction every single month.
Usually these auctions take place on the courthouse steps or in a big room at the county building. At these auctions, they sell tax delinquent properties. What they’re interested in is collecting the back property taxes, so that’s where the auction price usually starts, at the back taxes.
What do they sell? Residential homes, small farms, and small office buildings, but generally it’s homes.
Georgia Redeemable Deeds
The rules in Georgia allow the property owner to redeem in one year. They can get their property back if they pay whatever you paid plus 20%.
Buy all you can in Georgia because the minimum you’re going to make is 20%. You either get 20%, or you get the property, one or the other.
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Tax Defaulted Property
Today, I’m answering your question about how to do real estate part-time, and this does not take a lot of work.
For example, going to an auction takes a few hours and preparing for it takes a few hours. Other than that, you’re just waiting.
For this property, he bought the deed at the auction and paid seven cents on the dollar for a three bedroom, one bath home that had a swimming pool and a brick exterior. A boat was parked next to the house, and inside the garage was a drivable car.
This particular property was not damaged, although the weather had created a lot of vegetation, which didn’t look very good. The property looked a bit faded, but other than that, the structure was sound.
The Rules in Georgia
The student investor purchased the property, but the rules in Georgia require that as soon as you buy it, you stop and give the previous owner one solid year to pay you whatever you paid and an additional 20% to get their property back.
If they do not redeem during that 365 days, then you’re going to get the deed to the property.
What happened next? My student waited a year, then sold the car and the boat and started cleaning the property. When he opened the door, the property was fully furnished.
He spent about $5,000 bringing their property back up to normal, then began marketing the property to resell it.
How to Sell the Property
How do you do that? You can put it on Zillow, Trulia, the Multiple Listing Service, eBay, and Craigslist. You’re getting the idea. There are plenty of places to market property.
He put signs on the road in front of the house. What happened? People started to notice the property, and sure enough, it sold.
He sold it for $47,000.
He bought it for $3,000 and spent $5,000 fixing it up but ended up making very close to $40,000 on that one deal.
The Tax Defaulted Property Business
Can you redo the same thing? Yes, you can. Across America, there are 3,000 counties which will conduct more than 5,000 auctions, so you could continue to do this into the future.
When I discovered this business, I realized right then and there that if I could buy property for 10 cents or 20 cents on the dollar, I could sell it for any price I wanted. I had my profit built in before I made my first purchase.
Bargain Real Estate Without a Mortgage
Investors are buying tax defaulted properties with no mortgage and no deed of trust loan because the county wipes those loans out. When I say wiped it out, I mean they cancel it, extinguish it, and that’s by the law.
It doesn’t matter whether you’re buying residential lots, used and abused properties or big colonial houses, it’s always the same story.
The county auctions off properties that they don’t want because the county has a lot of bills to pay. So they sell the property at discounts of 60%, 70%, 80% to put it back on the tax roll.
In this case, working part-time, the individual bought a property mortgage-free directly from the county, invested $8,000, and sold it for $47,000.
If you can buy for 10 cents on the dollar and sell for anything you want, you’ve got a business that’s going to last for a long time.
How to Do Real Estate Part-Time: Conclusion
You can do real estate part-time and make lucrative profits, especially with tax defaulted property investing.
When you can get mortgage-free properties for pennies on the dollar, you can resell them quickly, generating fast cash flow and earning massive returns, even from just one deal.
If you’d like to know more about tax delinquent property investing, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching with certified coaches.
You can learn how to reap the huge rewards from tax lien and tax defaulted property investing! Get started today by taking advantage of Ted’s Free Master Class! Act now, it costs you nothing and will give you a big head start!