Bob Diamond overages live events and courses

26 Replies

I was wondering if anyone has ever been to a Bob Diamond overage live event or anyone has had any success with his courses?  His claim is he has the largest company working with tax sale overages and knows all of he ins and outs of claiming this money from the government.  In theory it looks good, but I am looking for someone that has actually made money with it.

I have no specific experience with Bob Diamond.  I would consider myself an expert on tax sales and know the tax sale overage game. It is not as easy as it would seem. Often banks or other creditors come in line before the homeowner. In some states you may need a law license o provide such a service and many states limit fees that can be collected. 

Keep in mind, rightly or not, many people view this as preying on venerable people. Would you feel comfortable with you name on the front page of the newspaper saying you stole money out of the pockets of someone who just faced foreclosure? If you are OK with that go for it. I work in very liberal city. This kind of news has put other investors on the front page of local newspapers. I don't want to go there.

@Ned Carey   in addition one needs to have nexus lexus and be an expert at skip tracing.

out our way the bigger players in this tend to be private detectives..

and in many areas the counties make it darn tough as they don't like to see middle men taking 50% of peoples money.... this is an old Guru program that has kind of come and gone.

@Todd Blank   google Joe Kaiser in Washington state see how the AD in that state went after him with both barrels.. not a popular strategy but one that can work in some instances.. but most will not do anything with it as its very hard... and the only making any money is Diamond selling you the how too..

Thanks for your input also Jay. Also, one of the things I was trying to measure is how much money is actually out there in overages and if this is a business is sustainable in the long run. I do occasional flips and want to start wholesaling in 2017 and know real estate will always be out there in many forms, however measuring the business of overages is harder to determine.

It looks like a lot of those complaints were 4 or 5 years old when he was promoting a real estate investing program. I am referring specifically to his overages program. It looks like Rick Dawson actually wrote this overages program. When I called his office the guy never knew who Rick Dawson is. It is hard to tell how they are related, but Dawson and Diamond are connected some how. Rick Dawson now promotes a program called "tax deed Sniper". Anyways thanks for all your inputs.

Mir Ali.  I did not take it for I found out that there is way more to it than he advertises.  Check you tube videos from Shaun Beige and he explains where Bob Diamond courses fall short.  I have talked to him and he is very humble about the subject; he does not put down Bob Diamond, but he will show you the shortfalls of Diamond's program.

Great info any recommendations on a course that really works that’s similar to Bob diamond surplus program? And any other recommendations?  I feel the one who created the course always ends up the one that becomes very wealthy. However Bob does have a tremendous amount of checks that people have earned using his program so I love more insight or find someone who used his program to speak because it seems to be real however it also seems to be old and it appears to me we have missed the boat on this program any other suggestions would be appreciated in 2019 thanks a lot

I personally liked Bobs program and was able to make money following the steps outlined in the course. I’m not affiliated with Bob, just bought the course in 2015.

That being said, I don't focus too much on the tax overages anymore. My business focuses on overages generated from mortgage foreclosures. Some of my deals are on my website www.overagerefunds.com

I’m happy to answer any other specific questions people may have on this thread.

@Nick Fullmer I am trying to understand better as it seems that someone is likely already chasing all the overages in every county and so taking the course at this point doesn't seem to make a lot of sense.

So how does your process work? Read through the website, bust just wanting to understand a little deeper. Are you searching out clients, or they come to you? What is the amount to be recovered in the mortgage foreclosure space? They owed $100K on the property, but it goes for $120K at the auction? So $20K less auction fees is owed to the owner

I finished listening to Bob’s webinar and he asking for a $1497 for registration. That is a LOT! I'm tempted though but I'm still not sure the overage stuff is as easy as he claims. And shouldn't one have some sort of legal training/ certification or something. Any testimonial?

I am in CA and I just bought a property through San Diego Tax Deed auction. I came across this recorded seminar from Connected Investors by Ross Hamilton and thought that this is a cool thing. However, some quick online searches provide me with new info: In San Diego county, unless you are a party before the tax sale, you can't file for the overage. After the sale, you have one year to file for the claim. However, if you are not party of the deed (lender or owner), you must get a writtten agreement from one of those to file a claim. The written agreement must spell out all of the numbers and who gets what or it won't be accepted. This way, you can't show that the owner will get 75% and you get 35% and get him to sign the agreement because he can just go and do it himself. Bob Diamond said that he has legal forms to get the owner to agree to the finder's fee so that you won't get circumvented, and I think this is the crux of the legal problem for people who wants to get into this overage business. The reason is simple: you already know ahead of time that the proceed of the tax sale belongs either to the owner or the lender. You will contact the owner after knowing this fact and have him sign an agreement giving you 35% of the proceeds without telling him his legal rights ahead of time. County laws (at least in San Diego county) requires you to disclose to the owner in the written agreement all financial arrangements between the parties. Knowing that, you had him signed another agreement to prevent him from going back on his words of splitting the proceeds with you before giving him the actual agreement to file the claim. I'm not the attorney, but that's ground for legal deception to me. Not only that, look at the complaints from people about getting Bob Diamond about the charges to their cards after signing up for this program. Even if the complaints are only 5% of the sign-ups, you don't want to be one of those 5%.

My recommendation is to do your own research using one of the county you know of before committing to this program. Oh, by the way, if this is easy and so profitable, why wouldn't Bob Diamond create his own company to go after these overages himself and keep all of the profits. Looks like he has local people around the country to get to the owners and have him sign the contract before filing the claim. That's a huge part of the equation already, up to 95% completion of the process, might as well going to the full monty and keep all the money instead of teaching people how to make money (filing a claim is easy as sending in one page form for the county).  I'd love to hear from @Nick Fullmer or anyone who bought this program on the info from my research. 

Here is part of the instruction for filing a claim if you are NOT a party of the property (lender or owner) at the time of tax sale from San Diego County:  


A party of interest in the property at the time of the sale may assign his or her right to claim the excess proceeds only
by a dated, written instrument that explicitly states that the right to claim the excess proceeds is being assigned, and only
after each party to the proposed assignment has disclosed to each other party to the proposed assignment all facts of which he or she is aware relating to the value of the right that is being assigned (§4675)


The key words are: "ONLY AFTER EACH PARTY TO THE PROPOSED ASSIGNMENT HAS DISCLOSED TO EACH OTHER"

I just recently had seen an advertisement for this overages webinar, and because this stuff intrigues me immensely, I registered for the webinar. I am also an opportunity junkie, and have seen countless courses, programs, ads, etc. and have a good radar for what is he NOT saying about the information he has for sale.

These things are always oversold in terms of ease, potential earnings, and what have you. I decided to do a quick Google search just a few minutes ago to see what else I could find, and that's how I came across this thread. For example, the webinar is not live despite what they make it seems. All the other participants are very likely fake, or at a minimum, recorded from the very first instance the webinar was run. I also do not see any sort of guarantee, and that's fine, he doesn't have to have one. But I also do not have to spend $1500 knowing it will not be as easy as it is made out to be.

Originally posted by @Terence Stamp :

I just recently had seen an advertisement for this overages webinar, and because this stuff intrigues me immensely, I registered for the webinar. I am also an opportunity junkie, and have seen countless courses, programs, ads, etc. and have a good radar for what is he NOT saying about the information he has for sale.

These things are always oversold in terms of ease, potential earnings, and what have you. I decided to do a quick Google search just a few minutes ago to see what else I could find, and that's how I came across this thread. For example, the webinar is not live despite what they make it seems. All the other participants are very likely fake, or at a minimum, recorded from the very first instance the webinar was run. I also do not see any sort of guarantee, and that's fine, he doesn't have to have one. But I also do not have to spend $1500 knowing it will not be as easy as it is made out to be.

just rebranding and packaging and old model that the counties have really cracked down on..  20 years ago it was different.. can it be done sure .. is it hard EXTREMELY  .. 

 

Originally posted by @Jay Hinrichs :
Originally posted by @Terence Stamp:

I just recently had seen an advertisement for this overages webinar, and because this stuff intrigues me immensely, I registered for the webinar. I am also an opportunity junkie, and have seen countless courses, programs, ads, etc. and have a good radar for what is he NOT saying about the information he has for sale.

These things are always oversold in terms of ease, potential earnings, and what have you. I decided to do a quick Google search just a few minutes ago to see what else I could find, and that's how I came across this thread. For example, the webinar is not live despite what they make it seems. All the other participants are very likely fake, or at a minimum, recorded from the very first instance the webinar was run. I also do not see any sort of guarantee, and that's fine, he doesn't have to have one. But I also do not have to spend $1500 knowing it will not be as easy as it is made out to be.

just rebranding and packaging and old model that the counties have really cracked down on..  20 years ago it was different.. can it be done sure .. is it hard EXTREMELY  .. 

Joe Kaiser in Washington ( your post from 2 years ago) was doing something completely different. He was scamming people to deed their homes over to him, then paying the back taxes to prevent the auction, and having the previous owner rent back.

This is all done after the fact. House is auctioned off, previous owners have moved out, new owners, etc. But the previous owner is unaware that the county owes them the overage from the auction, nor are they are aware that the county will NOT contact them to give them their overage. Sounds like this relies on the previous owner thinking that the county WILL contact them about the overage, and since they don't, they assume that they aren't owed anything. So the county just keeps it after a certain amount of time.

A previous poster identified the landmines - that you MUST inform the previous owner of this money available to them, and where it comes from, and therefore that they could - if they're savvy enough - just take the information you just provided them with and go get it themselves. But without seeing the contracts, there's no actual way to know if this is circumvented. 

BUT, if they're not savvy enough to know about the overage, they're more than likely not savvy enough either, nor aggressive enough, or too scared, or something..... to go get it themselves. Granted, this relies on some personality flaws in the previous owner, or financial pain on their part, but it's no different than when we go negotiate with distressed sellers to sell us their house at a discounted price for cash, or to allow us to take over the mortgage in a lease option type deal. I'm ok with this.

Just my $.02.

 

@Rony Jacques

Go to your county tax auction site and they publish the overage of each completed auction. The previous owner will be immediately bombarded with letters trying to get them to sign over their interest, so you would have to stand out. Florida caps your cut at a certain percentage. Its in the Florida Statutes. You can probably find all the forms and info you need for free. I don't do it, but you could get lucky. I remember one auction I lost had over 150k in overages but the guy was Scottish living in Scotland, and probably dead. So there could be a lot of work untangling a big mess, but the payoff could be worth it. The county also sends the prior owner a form with info on how to claim their funds.

Originally posted by @Ryan McKimm :

@Rony Jacques

Go to your county tax auction site and they publish the overage of each completed auction. The previous owner will be immediately bombarded with letters trying to get them to sign over their interest, so you would have to stand out. Florida caps your cut at a certain percentage. Its in the Florida Statutes. You can probably find all the forms and info you need for free. I don't do it, but you could get lucky. I remember one auction I lost had over 150k in overages but the guy was Scottish living in Scotland, and probably dead. So there could be a lot of work untangling a big mess, but the payoff could be worth it. The county also sends the prior owner a form with info on how to claim their funds.

 

Regarding the letter bombardment - I sat through the webinar and he recommends letting them "age" for a while. Presumably, this allows you to target only the ones that have slipped through the cracks.

Unsure how they WOULD slip through the cracks - of course they have moved out, so they can't be contacted at the house site in person, presumably. I guess that most mom and pop operations will just send that letter to the house address, hoping that they have set up their mail to be forwarded, and if it doesn't, it becomes a dead lead for them.

So I'm assuming that this is slightly more sophisticated. 1) let it age - this narrows it down to those previous owners that have indeed slipped through the cracks. 2) locate them using skip trace methods 3) contact them 4) use contracts (I'm assuming ) that prevent the previous homeowner circumventing your finders fee.

I'm not doing this at present, but find it interesting cuz as noted above, this is NOT a real estate investing method. Something that, hopefully, could be mostly farmed out to a VA, leaving in person contact to myself.

Originally posted by @Steven Rein :
Originally posted by @Ryan McKimm:

@Rony Jacques

Go to your county tax auction site and they publish the overage of each completed auction. The previous owner will be immediately bombarded with letters trying to get them to sign over their interest, so you would have to stand out. Florida caps your cut at a certain percentage. Its in the Florida Statutes. You can probably find all the forms and info you need for free. I don't do it, but you could get lucky. I remember one auction I lost had over 150k in overages but the guy was Scottish living in Scotland, and probably dead. So there could be a lot of work untangling a big mess, but the payoff could be worth it. The county also sends the prior owner a form with info on how to claim their funds.

 

Regarding the letter bombardment - I sat through the webinar and he recommends letting them "age" for a while. Presumably, this allows you to target only the ones that have slipped through the cracks.

Unsure how they WOULD slip through the cracks - of course they have moved out, so they can't be contacted at the house site in person, presumably. I guess that most mom and pop operations will just send that letter to the house address, hoping that they have set up their mail to be forwarded, and if it doesn't, it becomes a dead lead for them.

So I'm assuming that this is slightly more sophisticated. 1) let it age - this narrows it down to those previous owners that have indeed slipped through the cracks. 2) locate them using skip trace methods 3) contact them 4) use contracts (I'm assuming ) that prevent the previous homeowner circumventing your finders fee.

I'm not doing this at present, but find it interesting cuz as noted above, this is NOT a real estate investing method. Something that, hopefully, could be mostly farmed out to a VA, leaving in person contact to myself.

I  bank rolled a Joe Kaiser student in this endevour .. let him use my office and paid the overhead.. this model is So very tough 

we had lexus nexus which is very hard for the average person to get.. but so necessary to actually find these folks.. then you had to talk them into it.. which is not easy.. then you had to deal with the county telling the people they don't need us.. end of the day we got a few but this will not work passing off to a VA.. those that can do this pretty well are private detectives who have all the tools.. someone taking a course its all great in theory but 99% of the folks that get lured into these things that sound like easy money simply don't have the funds to do it the time to do it or the chops to close the deals. the only one making any real money here is the promotor charging you for this rehashed information.

 

@Steven Rein

The ones that slip through the cracks are the ones that no one can find or ones where the party entitled to the funds doesn't care to act.

The county has to keep copies of all the notices they sent out in case an auction gets challenged by an interested party. You'll find out from that record if they have the proper address and which addresses are dead ends. So that's the first place to start.

A lot of times the owner is dead and there was no probate or no heirs to take over, so that is why the taxes never got paid.

It's a lot of research and it may be more lucrative, and easier, to just sell a course on how to do it.

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