Expert: Dick Dennis - 8/11/2006

Question
I recently came across (on the internet) a list of Trustee Properties in the county where I live.
http://www.jeffcomo.org/contracts/surplus/index.cfm
How does this work? It says "Prospective buyers must do their own research to ensure the property is what they want." How do I do that?
Can I actually buy 2-acres of land for the taxes?
Pros and cons please.
Thank you.

Answer
You can be guaranteed that there will be people who will have done their research BEFORE the submit their offer for those properties. You will have to go to the county seat and look at a map in conjunction with the numbers you see there. If you know where those properties are, fine. But in most cases you will need to go out there, whereever they are, and touch the dirt or the improvements, if there are any. If you are not willing to do this homework, you have missed out on one of the more lucrative ways of making money in real estate. You should also investigate from the clerk how often they have those sales. Hey, you may have stumbled on a way of making a very good living.

I do wish you well.

Dick Dennis                dixiedee13@aol.com