Ross Hamilton Tax Foreclosure Overages

Ross Hamilton Tax Foreclosure Overages

Specialist · Philadelphia, PA · Member since 2015 · 12 posts · 2 votes
SHARE BUTTON I watched Ross Hamilton's Tax Foreclosure Overages webinar and it peaked my interest. I would like to get some feedback from anyone/everyone that has bought and used the program. I am hoping for lots of positive feedback as I am very interested in getting started with the program myself. But all feedback is welcome.

Can anyone tell me a little more about your experience with the program. Such as:

1) Does the program tell you where and how to obtain the list?
2) Do you have to pay for the list?
3) After obtaining the list have you had a been able to successfully contact clients whom the tax overages are due?
4) Have you been able to successfully retrieve the tax overages for the clients you have contacted?
5) Does the program have the proper documents you need to use?
6) Are there any other fees incurred after purchasing this program?
7) Is the program complete or does it prompt you to purchase other programs in order to make it work?

I am indeed interested in the program. I think it would be a great addition to my investing business and a great way to obtain the funds I need to do more real estate deals. Please if you could answer all my questions I would be greatly appreciated.

Your Ever Grateful Investor,

Kathy

BlackDoorInvesting

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Real Estate Investment Attorney · Kingsville, MD · Member since 2016 · 643 posts · 408 votes
10y

@Kathy Johnson

I am not familiar with the webinar or Mr. Hamilton. However, I would recommend not paying for something you can figure out yourself. Back in the day I dabbled in the tax sale surplus area. You can get the list from the City (often for free). Baltimore would give you a computer disc. It is a difficult business. My group paid a Private Investigator to find people. It cost a pretty penny to compensate him. Some deals worked out. Some deals did not because the people, once contacted, either said" I don't believe you", said "Thanks, I don't need you I will get the funds myself" or said " I don't want anthing to do with that house". It was a costly, time consuming, frustrating pain in the neck business that I would not recommend to anyone unless they have no other possible source of income. I hope that helps.

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  • Real Estate Investment Attorney · Kingsville, MD · Member since 2016 · 643 posts · 408 votes
    10y

    @Kathy Johnson

    I am not familiar with the webinar or Mr. Hamilton. However, I would recommend not paying for something you can figure out yourself. Back in the day I dabbled in the tax sale surplus area. You can get the list from the City (often for free). Baltimore would give you a computer disc. It is a difficult business. My group paid a Private Investigator to find people. It cost a pretty penny to compensate him. Some deals worked out. Some deals did not because the people, once contacted, either said" I don't believe you", said "Thanks, I don't need you I will get the funds myself" or said " I don't want anthing to do with that house". It was a costly, time consuming, frustrating pain in the neck business that I would not recommend to anyone unless they have no other possible source of income. I hope that helps.

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Rich Baer  we did a little of this out on the west coast and their is a company in CA  ( owned by private investigators) that has done pretty well with it.

    non starter for most folks.. great Idea concept etc to sell your school program as they make it sound SOOO easy.. but alas it is not.

    I have first hand knowledge as well. My family was in the land development business in N CA for a few decades.. and my dad always had left over junker lots that he just never sold and let go to tax sale.  occasionally the greater fool theory would take hold and someone would buy it at tax sale and an overage was created.. Now for 15 to 20 years we checked every year and usually made a claim.

    then one day I get a call ( from the company in CA I am talking about)  well my mom did.. she calls me and says someone found 16k and wants to split it.. what should I do.. I told my mom .. tell them thank you very much and hang up.. I went to the county and made our claim for the 16k..  LOL.

    Also people should be aware that many municipalities and counties absolutely frown on investors doing this as they think its ripping off the rightful owners of those funds.. and will not help you and can be actually quite hostile..  there was the case in Washington with Joe Kaiser. who got under the skin of the WA AG and they went to war and guess who won that battle.. these folks now probably learned their craft from Joe and or are disciples of his.. like the hooked on overages folks in the mid west.

    But I have seen folks get some decent paydays but if your not set up with full blown accurant skip tracing a bull dog on the phone and then know how to maneuver a hostile county tax collector its a waste of money.

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Rich Baer  company in CA I am thinking about I am pretty sure is called Global recoveries.. they do a lot of work for banks as well.

  • Real Estate Investment Attorney · Kingsville, MD · Member since 2016 · 643 posts · 408 votes
    10y

    @Jay Hinrichs

    You are right. It is made to sound so easy. I forgot to mention that even if you are successful, you can be sued by the person you helped even with a GOOD CONTRACT. They will say you took advantage of them and the jurors will have a field day if it gets that far.

  • Flipper/Rehabber · Austin, TX · Member since 2009 · 405 posts · 168 votes
    10y

    I did a lot of research to determine the viability of this strategy.  I found that a lot of the tax overages (overages paid from tax deed sales) were properties that were of the deceased.  That was a path I didn't want to go down.

  • Deerfield Beach, FL · Member since 2017 · 1 post · 0 votes
    9y

    Hi Kathy,

    I just watched the Tax Foreclosure Overages webinar with Ross Hamilton  and I noticed that you were interested in that program. Did you ever get started with the program? I am interested,  but I would like to get your feedback before I get involved.  your assistance will be greatly appreciated. Awaiting your response

  • Investor · Spring, TX · Member since 2011 · 4 posts · 1 vote
    9y

    I'd like to know as well

  • Residential Real Estate Broker · Lake Elsinore, CA · Member since 2016 · 9 posts · 5 votes
    9y

    Here is what you will run into before you can act as an agent for those who are owed money. The counties have made sure that you have to disclose where the overage is and the exact amount, and that they don't need you to act as their agent, thus rendering you useless to the former homeowner. Here is an example taken right off the San Diego Tax Collectors website. Riverside County's is similar....

    "A party of interest in the property that was sold at tax sale may assign his or her right to claim excess proceeds only be a dated, written instrument that explicitly states that the right to claim to claim excess proceeds is being assigned, and only after each party to the proposed assignment has disclosed to each other party all facts relating to the value of the right that is being assigned. Any assignment that does not comply with these requirements shall have no effect. Any person or entity who in any way acts on behalf of, or in place of, any party of interest with respect to filing a claim for excess proceeds shall submit proof with the claim that the amount of excess proceeds has been disclosed to the party of interest and that the party of interest has been advised of their right to claim excess proceeds on their own behalf. If you prefer to have an agent file your claim for you, or if you should decide to sell your claim, an "Assignment" must be completed and submitted in addition to the Claim for Excess Proceeds."

    So you are wasting your time (AND MONEY) purchasing the Bob Diamond course or any other course on Property Tax Overages. A word to the wise is sufficient.

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