Expert: Dick Dennis - 8/30/2006

Question
Dear Dennis,

I have currently been working as a loan officer for 8 months and I have been saving a considerate amount of money to buy a house for my girlfriend and I. However, I was looking for an investment property to turn over and help us with a down payment. Do you think that a tax delinquent property is the way to go? If so, why don't more people invest in these? Is there a catch or something? What are the benefits to purchasing a tax delinquent property versus a foreclosed property?

Thank you for your help.


Answer
Don't look a gift horse in the mouth, Mike. You have found an area from which most real estate investors shy away because it requires two things: work and knowledge. Ironically, the work requires knowledge and the knowledge requires work and most investors just would rather just go buy a house and hope they bought it right.

So go out and do your homework on the properties that are behind in taxes, boychick. Good luck.

Dick Dennis              dixiedee13@aol.com