BiggerPockets

something tells me you are affiliated with Stacy

George P -- why would you ASSUME that I'm affiliated with Stacy? The fact is I got an email from Phill Grove, who is promoting Stacy's program. I watched a couple of his video's and I found it interesting. BUT, before I spend $1000, I would rather do some research on the guy and get advice from this community regarding his method. What is wrong with that? I have never heard of Stacy before getting Phill's email. Please don't discredit my post because I've only been a member here for a couple weeks.

Originally posted by Investor_Dan

George P -- why would you ASSUME that I'm affiliated with Stacy? The fact is I got an email from Phill Grove, who is promoting Stacy's program. I watched a couple of his video's and I found it interesting. BUT, before I spend $1000, I would rather do some research on the guy and get advice from this community regarding his method. What is wrong with that? I have never heard of Stacy before getting Phill's email. Please don't discredit my post because I've only been a member here for a couple weeks.

Cause it's your second post and you're promoting someone's material. Please don't troll. This particular program was discussed here recently (topics were started by someone with 1 or 2 posts, too): 1. http://www.biggerpockets.com/forums/20/topics/37205-unclaimed-funds-from-tax-sale-overages
2. http://www.biggerpockets.com/forums/12/topics/54240-unclaimed-funds-from-tax-sales-and-foreclosures

OK, lets please get back to providing Dan with any feedback anyone has about Stacy Kellams and his program.

Sorry, here you go:

This particular program was discussed here recently ): 1. http://www.biggerpockets.com/forums/20/topics/37205-unclaimed-funds-from-tax-sale-overages
2. http://www.biggerpockets.com/forums/12/topics/54240-unclaimed-funds-from-tax-sales-and-foreclosures

Stacy Kellams's course is actually just Virtual Courthouse Riches, plagiarized. If you want the real course from the people who actually have done the business, buy that one. It's the same price and Kellams is probably going to be sued and have to take down his site so unless you want to have nothing to show for $997 I'd stay away from that course. google Virtual Courthouse Riches or Hooked on Overages

Just came a very interesting hmmm... lawsuit against Joe Kaiser (who is teaching the "Hooked on Overages" course suggested earlier).
Read through here: http://www.pushedtoshove.com/wp-content/uploads/2011/03/kaiser-appeal-opinion.pdf
VERY Interesting....

"Kaiser admits that if the property owners knew about the
overage, they would never agree to allow him to collect it. Accordingly, Kaiser never
fully explained the overage addendum to the property owners and any disclosure about
the overage is buried in other contractual boilerplate."

"In one example of an overage play transaction, Michael and Patty Radvick
contacted Kaiser to help them avoid the tax sale and keep their property. Kaiser paid
the Radvicks $500 and the Radvicks agreed to enter into a purchase and sale
agreement and execute a quit claim deed to Kaiser. Kaiser did not pay the delinquent
taxes as promised; instead, he let the tax sale proceed. After deducting unpaid taxes
and fees, the sale generated an overage of $37,994. Kaiser used the quit claim deed signed by the Radvicks to collect the overage funds."

Now, that Kaiser is (according to http://www.pushedtoshove.com/scam-i-am/ ) "permanently banned from transacting with owners in any type of foreclosure, and permanently banned from transacting to recover overages from former owners whose properties were sold at tax sales", he decided to teach others to do it. For only $20k he will teach you every con-trick from his book.
What a country!

By the way, you must be pretty new to real estate investing if you're shocked to see an active investor getting sued. The state will sue whomever they can to "prevent fraud to homeowners." Translation: if people like Joe can't legally operate as money finders, the people that are owed the money will probably NEVER know about it and the state will end up getting to keep it.
Also, in reading your quoted text above... who in their right mind would think they got to pay $500 to an investor, who would then pay $37000 in taxes and let them stay in their house? It's pretty obvious that some details are missing there, and to think that's the end of the story is ignorant. At best.

In Texas, you have to file a motion to have the funds released which means ; a lawyer is needed and you can only get 10% as a finders fee.

Originally posted by John Wizniewski

By the way, you must be pretty new to real estate investing if you're shocked to see an active investor getting sued. The state will sue whomever they can to "prevent fraud to homeowners." Translation: if people like Joe can't legally operate as money finders, the people that are owed the money will probably NEVER know about it and the state will end up getting to keep it.
Also, in reading your quoted text above... who in their right mind would think they got to pay $500 to an investor, who would then pay $37000 in taxes and let them stay in their house? It's pretty obvious that some details are missing there, and to think that's the end of the story is ignorant. At best.

I hear you, but just remember, Kaiser didn't argue these and other facts in court.