<transcript><audio_111>hospital and so on so property taxes are a tax that's local if they can't collect it it they're going to issue a tax certificate when they do that they put them on a list and people can go and buy them off the and people can go and buy them off the list and earn a generous</transcript><transcript><audio_112>rate of return of 16 18 24 and even 36% on the certificate depends upon the state so to better understand this can I look at that as if it were something like a municipal Bond oh sure it's it's just a government certificate and it's going to probably a</transcript><transcript><audio_113>little better than a municipal Bond because they pay about 3 or 4% uh these things pay really high rates of return and if what happens if the delinquent taxpayer pays off those taxes what do I get two things uh we should</transcript><transcript><audio_114>talk about one is if the delinquent taxpayer doesn't pay the tax you're going to end up with the property that you bought the tax certificate you're going to own that property without a mortgage the government will award you that property because the government doesn't want any more property so that's</transcript><transcript><audio_115>the incentive for that person to come and pay their taxes and so that the listener knows 97 98% of all tax certificates are paid off within 24 months are paid off within 24 months so I could get that property for just the</transcript><transcript><audio_116>back taxes a few thousand doll maybe exactly happens every day if they pay it off I get all my money back plus interest right you you either get paid or you get the property it's it's overly simplified so how do I find these</transcript> hospital and so on so property taxes are a tax that's local if they can't collect it it they're going to issue a tax certificate when they do that they put them on a list and people can go and buy them off the and people can go and buy them off the list and earn a generous rate of return of 16 18 24 and even 36% on the certificate depends upon the state so to better understand this can I look at that as if it were something like a municipal Bond oh sure it's it's just a government certificate and it's going to probably a little better than a municipal Bond because they pay about 3 or 4% uh these things pay really high rates of return and if what happens if the delinquent taxpayer pays off those taxes what do I get two things uh we should talk about one is if the delinquent taxpayer doesn't pay the tax you're going to end up with the property that you bought the tax certificate you're going to own that property without a mortgage the government will award you that property because the government doesn't want any more property so that's the incentive for that person to come and pay their taxes and so that the listener knows 97 98% of all tax certificates are paid off within 24 months are paid off within 24 months so I could get that property for just the back taxes a few thousand doll maybe exactly happens every day if they pay it off I get all my money back plus interest right you you either get paid or you get the property it's it's overly simplified so how do I find these
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