Is connected overages .com with Bob Diamond legit?
Realtor · Cincinnati, OH · Member since 2018 · 2 posts · 4 votes
Is connected overages .com with Bob Diamond legit?
Most Popular Reply
Don KonipolBusiness Member
Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes@Tanganika Darden
There are “finder” companies locating all kinds of unclaimed funds in government trust accounts. The successful ones operate on a relatively large scale, often nationwide, and act as finder for many types of unclaimed funds, not solely tax overages.
It’s a fairly sophisticated operation, with an unusually long time lag between first identifying the unclaimed funds, tracking the beneficiaries, obtaining a contract from said beneficiaries, gathering all the documents needed for “proof”, dealing with numerous government agencies, and finally hopefully having your client receive the funds and you getting paid. I say hopefully because many of these payments are reduced or altogether eliminated by any amounts owed by the beneficiary to other government agencies, such as income taxes, loans, etc.
Bottom line is that this is a business, requiring all the skills and assets and expenses necessary for all businesses. My beef with the people who teach this are
(1) they imply this is somehow related to real estate investing; it is not
(2) they imply you can be successful with only the knowledge they teach; this is not true, you need managerial and business skills and knowledge to a degree way beyond the scope of the “training” they provide.
(3) they imply you can successfully do this on a part time basis; it’s actually a full time business demanding all of your attention
(4) they imply competition is limited; competition is actually fierce, except for the deals on which there is no profit.
Additionally, this industry is state regulated, by the state in which the property is located. For example in Texas a finder is limited to a maximum fee of 10% of the net amount received by the beneficiary, thereby eliminating from profitability a significant percentage of deals.
This is the same over hyped, over promoted, over promised, under performing opportunity as note broker, house wholesaler, etc. yes, some people (who run it as a full time business) do well, just as some people who run automotive manufactures, chemical plants, and construction companies do well. It is a legitimate business, but that doesn’t mean you have the experience, skills, knowledge, time, dedication or capital to be successful. What it’s not is an easy, profitable, part time business.
50 Replies
- Specialist · Pleasant Grove, UT · Member since 2015 · 19 posts · 20 votes5y
@Tim Bender Are you only pursuing deed's after tax sales where there is a redemption period in play? Or are you also working states were there is no redemption period, getting the quit claim deed from owner and then challenging the tax deed in court?
- Member since 2021 · 2 posts · 0 votes5y
Thanks to Ms. Garden and Mr. Konipol, Mr. Diamond has failed to thin out my less than big pockets of $1,500.00 - truly rapacious of him to prey on unsophisticated, unwitting people who are desperate for a "side hustle."
- Member since 2021 · 2 posts · 0 votes5y@Mark Norick, can you please let me know where the information is that you have about the tax overages?
- Member since 2021 · 2 posts · 0 votes5y@Tim Bender Hi Tim, if a property was sold for taxes not being paid, how can you get a quick deed? Does that deed come from the person who bought the property?
- Member since 2021 · 2 posts · 1 vote5y
@timbender
Hi Tim,
Can you explain more about the process on how you are doing that with the past home owner deeding you a quick claim deed...
You mentioned finding out the reason it was for sale... are their illegal reason that they shouldnt have been foreclosed on?
Would love to talk to you.
Please contact me jmanjarres289
gmail.com
- Milwaukee, WI · Member since 2017 · 23 posts · 6 votes5y
@Renee Gray, can you provide more feedback on Bob Diamond's course - how are things going now - have you made money from the business? I just watched his web class presentation last night, I was looking to get information from someone who has gone through the course. Are you still working in overages now?
- Member since 2022 · 1 post · 2 votes4y
I just started their course. I did do my homework and found them to be legit. Mr. Bob Diamond is a attorney and his team is legit now with that said I found under the BBB- some issues nothing that cant be resolved. I work as a Private Investigator for the state of California and a semi retired social worker of 25 yrs. I know a thief or a liar when I see one. As far as I'm concerned I will continue my course and I'm sure Ill do well in it. Just like everyone out their who are Big company's like Walmart, Target, etc. have daily issues with customers that need to be resolved in person or online or complaints with the BBB.Focus on your success.
- Wholesaler · Urbana, MD · Member since 2017 · 15 posts · 3 votes4y
Quote from @Tim Bender:
You can make significant money with tax overages...but it's not as simple as the gurus like you to believe. I work with tax properties a lot, probably 50% of my portfolio work per year. I also make money with the overages. But I don't think it's worth the amount of effort required. The most I've made in a year from just overages was about $100,000. That's with a full time secretary working on them. In the same period of time, I could have had that secretary make me three times that amount on clouded titles. However, depending on the state the overage is in, you may be severally limited on what you can make from the overage. For instance in Arkansas and in a lot of states, if you make a claim as a third party on behalf of a "client" ie the owner of the surplus, the state may limit you to a finders fee of only 10%. They may also require you give them a notarized document from the owner that states the owner is aware of the surplus, how much you are charging, and that they can claim these funds without your help. Some state attorney generals may even pursue suits against you for "unfair business practices violations." Remember, you are demanding these funds from the county or state. If no one claims these funds, they get to keep them. They also are politically connected with unlimited deep pockets, they will try to stand in your way to claim these funds. Fighting the county or state is a very tough battle sometimes.
What I do like to do with these overage lists, is to research the property itself. I discover why it was sold at the tax sale, seek out the previous owner and get a quit claim deed from them (even if a new deed was awarded from the tax sale), then attack the collection deed and win the property back, usually for just a few hundred dollars. The overage lists is a great resource to find ugly deeds for pennies.
I like your strategy with using the tax sale list to get a quit claimed deed from the pervious owner. But how do you win the property back if it's pass the redemption period?
- Member since 2023 · 7 posts · 0 votes3y
Mark,
What program is this email referring to?
name or a link would be great.
Thanks Jackie
- Member since 2020 · 8 posts · 1 vote3y
@Tanganika Darden @Renee Gray @Dan Chomycia how is it going with the tax overage/unclaimed money business ?
- Member since 2023 · 1 post · 1 vote3y
Quote from @Mark Norick:
Hello, I found this thread when I did a search for Bob Diamond after receiving an email referring to him, (which I will paste below).
I also want to respond to Don above, who obviously knows something about this business, but not all of his points are valid.
First off, here is the email I received recently which brought me to this page:"I just purchased your online download. I really wish I had found out about your site, before I spent money on Bob Diamonds course, that let me with so many questions.
I have literally learned so much for just reading your website, that I happened to stumble across, because I was looking for more information online about the unclaimed funds/overage business.
I truly gave so much value on your site alone, which made me purchase the download. I hope to learn so much more. Now I'm going to try to get my money back from the other course, because it didn't help me at all. I guess the one good thing is that I found your course.
Thanks again for great content!!!"
That email was just based on the content of the website. If you take a look at it, you will see it is packed with information. It sounds like there is more free information o the site than there is in the other package she purchased. I couldn't believe it when I looked at that site and saw it was offered for $1497!
The Guide we sell goes for less than a 10th of that and I'm sure offers a lot more information.
This is where I want to address Don's comments:
As I mentioned Don does have some valid points. Yes, it is true, you have to treat this like a legitimate business and you have to have the skills to do it. However:
"(1) they imply this is somehow related to real estate investing; it is not"
We specifically state that this is only for State unclaimed funds. I get many questions from people asking if this is for overages or surplus funds and let them know it is not"(2) they imply you can be successful with only the knowledge they teach; this is not true, you need managerial and business skills and knowledge to a degree way beyond the scope of the “training” they provide.
In our Guide, one of the sections concerns starting up your own business and working from home. It covers such details as registering your business, opening a bank account, and printing stationary. There are several step by step instructions on actual claims where I'm basically holding your hand showing you what to do. We also provide all of the letters that we send out as well with blank spaces to put your information in.
This isn't rocket science! It's so easy, it's really just a matter of getting the lists, searching online for the claimant and then sending out the proper forms to both the claimant and the state.
If you look on the testimonials on the site they are legitimate. The person that left one six years after purchasing the Guide made over $200,000 last year.
"(3) they imply you can successfully do this on a part time basis; it’s actually a full time business demanding all of your attention"
No, you can do this part time. Even if you send out one letter a day, that is five a week, twenty per month. Let's just say you send out letters in the $20,000 range. Even if you get one hit on that and charge 10% your making $2000.
"(4) they imply competition is limited; competition is actually fierce, except for the deals on which there is no profit."I'm not sure where he is getting that from. I never run into someone saying they have already been contacted. When I first started out as a third party tracer for HUD many years ago I did, but the states have millions of accounts and hardly anyone doing this. Just go to Ohio or Pennsylvania unclaimed states websites and you can see the list of finders there. Compared to the numbers of accounts available, forget about it!
"Additionally, this industry is state regulated, by the state in which the property is located. For example in Texas a finder is limited to a maximum fee of 10% of the net amount received by the beneficiary, thereby eliminating from profitability a significant percentage of deals."
Yes, this is true, but even in states where you can charge more such as Colorado, we still only charge 10%. 10% seems fair and is more agreeable for the clients.
I also wanted to point out that we don't disappear on anyone after they purchase the Guide. I answer all emails. The truth is though, we don't get that many emails because so much information is covered.
I hope this helps answer any questions regarding state unclaimed funds.
Thank you,
Mark
- Member since 2023 · 1 post · 0 votes3y
I hear some talk about the excessive epensives. What are those expensives it is unclear what capital and monies are needed
- Member since 2023 · 1 post · 0 votes3y
Quote from @Renee Gray:
Yes, Bob Diamond is for real! I just joined his course! What he teaches is amazing! I am so excited to be involved! I'm about 1/4 of the way through. I can't wait to finish and be legit!
@Renee Gray - Hello, Renee, have you made any money yet? Was the supported suggested by Bob Diamond all as described in his presentation? - Member since 2018 · 1 post · 1 vote3y
Quote from @Renee Gray:
Yes, Bob Diamond is for real! I just joined his course! What he teaches is amazing! I am so excited to be involved! I'm about 1/4 of the way through. I can't wait to finish and be legit!
how is going so far? Can your share?
- Member since 2023 · 1 post · 0 votes3y
@Mark Norick:
where do I find this Guide you reference here ?
thank you
Amy
Quote from @Mark Norick:
Hello, I found this thread when I did a search for Bob Diamond after receiving an email referring to him, (which I will paste below).
I also want to respond to Don above, who obviously knows something about this business, but not all of his points are valid.
First off, here is the email I received recently which brought me to this page:"I just purchased your online download. I really wish I had found out about your site, before I spent money on Bob Diamonds course, that let me with so many questions.
I have literally learned so much for just reading your website, that I happened to stumble across, because I was looking for more information online about the unclaimed funds/overage business.
I truly gave so much value on your site alone, which made me purchase the download. I hope to learn so much more. Now I'm going to try to get my money back from the other course, because it didn't help me at all. I guess the one good thing is that I found your course.
Thanks again for great content!!!"
That email was just based on the content of the website. If you take a look at it, you will see it is packed with information. It sounds like there is more free information o the site than there is in the other package she purchased. I couldn't believe it when I looked at that site and saw it was offered for $1497!
The Guide we sell goes for less than a 10th of that and I'm sure offers a lot more information.
This is where I want to address Don's comments:
As I mentioned Don does have some valid points. Yes, it is true, you have to treat this like a legitimate business and you have to have the skills to do it. However:
"(1) they imply this is somehow related to real estate investing; it is not"
We specifically state that this is only for State unclaimed funds. I get many questions from people asking if this is for overages or surplus funds and let them know it is not"(2) they imply you can be successful with only the knowledge they teach; this is not true, you need managerial and business skills and knowledge to a degree way beyond the scope of the “training” they provide.
In our Guide, one of the sections concerns starting up your own business and working from home. It covers such details as registering your business, opening a bank account, and printing stationary. There are several step by step instructions on actual claims where I'm basically holding your hand showing you what to do. We also provide all of the letters that we send out as well with blank spaces to put your information in.
This isn't rocket science! It's so easy, it's really just a matter of getting the lists, searching online for the claimant and then sending out the proper forms to both the claimant and the state.
If you look on the testimonials on the site they are legitimate. The person that left one six years after purchasing the Guide made over $200,000 last year.
"(3) they imply you can successfully do this on a part time basis; it’s actually a full time business demanding all of your attention"
No, you can do this part time. Even if you send out one letter a day, that is five a week, twenty per month. Let's just say you send out letters in the $20,000 range. Even if you get one hit on that and charge 10% your making $2000.
"(4) they imply competition is limited; competition is actually fierce, except for the deals on which there is no profit."I'm not sure where he is getting that from. I never run into someone saying they have already been contacted. When I first started out as a third party tracer for HUD many years ago I did, but the states have millions of accounts and hardly anyone doing this. Just go to Ohio or Pennsylvania unclaimed states websites and you can see the list of finders there. Compared to the numbers of accounts available, forget about it!
"Additionally, this industry is state regulated, by the state in which the property is located. For example in Texas a finder is limited to a maximum fee of 10% of the net amount received by the beneficiary, thereby eliminating from profitability a significant percentage of deals."
Yes, this is true, but even in states where you can charge more such as Colorado, we still only charge 10%. 10% seems fair and is more agreeable for the clients.
I also wanted to point out that we don't disappear on anyone after they purchase the Guide. I answer all emails. The truth is though, we don't get that many emails because so much information is covered.
I hope this helps answer any questions regarding state unclaimed funds.
Thank you,
Mark
- Member since 2023 · 2 posts · 0 votes3y
Also interested in looking at Mark's online guide to unclaimed funds.
- Member since 2023 · 2 posts · 0 votes3y
P.S. or I should say, looking for more information on the unclaimed State funds as well. Any guidance will be much appreciated.
- Member since 2023 · 1 post · 0 votes2y
Quote from @Renee Gray:
Yes, Bob Diamond is for real! I just joined his course! What he teaches is amazing! I am so excited to be involved! I'm about 1/4 of the way through. I can't wait to finish and be legit!
Since you joined, how have the program worked for you?
- Member since 2023 · 1 post · 0 votes2yI would like more information about this please. Thank you
Quote from @Mark Norick:
Hello, I found this thread when I did a search for Bob Diamond after receiving an email referring to him, (which I will paste below).
I also want to respond to Don above, who obviously knows something about this business, but not all of his points are valid.
First off, here is the email I received recently which brought me to this page:"I just purchased your online download. I really wish I had found out about your site, before I spent money on Bob Diamonds course, that let me with so many questions.
I have literally learned so much for just reading your website, that I happened to stumble across, because I was looking for more information online about the unclaimed funds/overage business.
I truly gave so much value on your site alone, which made me purchase the download. I hope to learn so much more. Now I'm going to try to get my money back from the other course, because it didn't help me at all. I guess the one good thing is that I found your course.
Thanks again for great content!!!"
That email was just based on the content of the website. If you take a look at it, you will see it is packed with information. It sounds like there is more free information o the site than there is in the other package she purchased. I couldn't believe it when I looked at that site and saw it was offered for $1497!
The Guide we sell goes for less than a 10th of that and I'm sure offers a lot more information.
This is where I want to address Don's comments:
As I mentioned Don does have some valid points. Yes, it is true, you have to treat this like a legitimate business and you have to have the skills to do it. However:
"(1) they imply this is somehow related to real estate investing; it is not"
We specifically state that this is only for State unclaimed funds. I get many questions from people asking if this is for overages or surplus funds and let them know it is not"(2) they imply you can be successful with only the knowledge they teach; this is not true, you need managerial and business skills and knowledge to a degree way beyond the scope of the “training” they provide.
In our Guide, one of the sections concerns starting up your own business and working from home. It covers such details as registering your business, opening a bank account, and printing stationary. There are several step by step instructions on actual claims where I'm basically holding your hand showing you what to do. We also provide all of the letters that we send out as well with blank spaces to put your information in.
This isn't rocket science! It's so easy, it's really just a matter of getting the lists, searching online for the claimant and then sending out the proper forms to both the claimant and the state.
If you look on the testimonials on the site they are legitimate. The person that left one six years after purchasing the Guide made over $200,000 last year.
"(3) they imply you can successfully do this on a part time basis; it’s actually a full time business demanding all of your attention"
No, you can do this part time. Even if you send out one letter a day, that is five a week, twenty per month. Let's just say you send out letters in the $20,000 range. Even if you get one hit on that and charge 10% your making $2000.
"(4) they imply competition is limited; competition is actually fierce, except for the deals on which there is no profit."I'm not sure where he is getting that from. I never run into someone saying they have already been contacted. When I first started out as a third party tracer for HUD many years ago I did, but the states have millions of accounts and hardly anyone doing this. Just go to Ohio or Pennsylvania unclaimed states websites and you can see the list of finders there. Compared to the numbers of accounts available, forget about it!
"Additionally, this industry is state regulated, by the state in which the property is located. For example in Texas a finder is limited to a maximum fee of 10% of the net amount received by the beneficiary, thereby eliminating from profitability a significant percentage of deals."
Yes, this is true, but even in states where you can charge more such as Colorado, we still only charge 10%. 10% seems fair and is more agreeable for the clients.
I also wanted to point out that we don't disappear on anyone after they purchase the Guide. I answer all emails. The truth is though, we don't get that many emails because so much information is covered.
I hope this helps answer any questions regarding state unclaimed funds.
Thank you,
Mark
- Member since 2024 · 1 post · 0 votes2y
How can I get to mark Norick’s site? What is it?
also, what are some other sites that have offers for doing tax overages or state unclaimed funds? Thanks.
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