If you're into profiting from tax sale surplus, you'll now be able to see how much tax sale surplus each county in Indiana collected last year, and how much tax sale surplus remained in their account as of the first of the year!
Plus, Marion County, which holds a huge percentage of the state's overages, now updates their redemption records online EVERY DAY!
"Read this before attempting to work with Indiana tax sale surplus!"
New Indiana law now heavily restricts 'finders'. 'Finders' can only charge 10% to assist in the recovery of tax sale surplus funds from the moment they're available, and must claim them through a court process. Do not attempt to charge a finder fee in excess of 10% in Indiana. But read on for the solution we've been using to profit in Indiana even more now that the restriction is in place.
Please keep that news in the back of your mind for the moment - in the meantime let's look at 2 new online developments that make the list-gathering side of the Indiana tax sale surplus game so much more effective starting today.
All county annual reports now online - including tax sale surplus figures!
I just discovered how the boring old county reports that the counties must file with the state, contain the amount of surplus collected last year, and the amount remaining on hand as of the first of the year!
This saves so much time. I can see in advance is a county isn't holding much tax sale surplus, and then I don't even contact them.
On the other hand, if there are millions on hand, I'll make sure to get my list! Here's how you do it in Indiana:
Marion County tax sale surplus now updated DAILY!
Marion County, home of Indianapolis, has the largest population in Indiana by far. So it's no surprise that Marion county holds a very large percentage of Indiana's tax sale surplus share also.
In the past, I've made 50% or more of my yearly Indiana tax sale surplus profit from this city alone. So it was awesome news to see today that they are now updating their tax sale results online every single day!
There are over 150 pages of sales results, and these show whether a property has been redeemed or cancelled (no chance of working with the surplus) or still active (still a chance to profit from the surplus!). You can get the latest version here: http://www.indy.gov/eGov/County/Treasurer/Sale/Pages/taxsale.aspx
Now you will only have to get the list from the county once. Just click on "Marion County 2010 'A' Status List", and look for properties that have "SOLD" status - these are not redeemed.
You can check daily if you wish to get rid of properties that have redeemed, that you can't work with.
How we still profit 40-50% of the surplus WITHOUT charging a 'finder fee'
As soon as Indiana's new law limiting finder fees to 10% came into effect, most companies working in Indiana vanished overnight. However, we see the change as an opportunity to bring back the days of NO COMPETITION!
Instead of charging a finder fee, which would now limit us to 10% profit on a collection, we purchase the property itself, AFTER the redemption period ends, but BEFORE the tax sale buyer gets a tax deed.
Yes, it's possible to purchase the property for a time, even though it can't be redeemed, if you know how to do it! This now entitles us to collect the funds as owner, and since we didn't ever charge a fee, we aren't affected by the 10% finder fee law!
It's important to make a number of simple, but crucial changes in the way you do business if you're going to be one of the only people going after millions and millions of dollars of tax sale surplus funds on hand in Indiana. I'll show you exactly how we get these deals done for 40-50% profits, and give you just about everything you need to start right now.
The Indiana "Inside Track" training starts today, June 27, 2011. Watch this video to see everything you'll get with the training - and get back on the tax sale surplus "ground floor":