Overages after a tax sale foreclosure

Overages after a tax sale foreclosure

Residential Real Estate Broker · New York City, NY · Member since 2016 · 142 posts · 21 votes

I was listening to a webinar about overages that are

unclaimed in tax sale foreclosures, nearly 95% according to the speaker,

Bob Diamond, there are 3,000 of these done every day, JP Morgan says $13,700,000

worth of unclaimed money.  He is selling this course for $1,495 which I  don't have

at the present, is anyone familiar with this process. (you find the money and

return it to the owners and take 30 or 40% finders fee)

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Wholesaler · Baltimore, MD · Member since 2016 · 22 posts · 23 votes
8y

Oh and the other thing with tax sale overages is that your competing against 2 or 3 other BIG companies.  Your hardly ever gonna be able to contact the owners on the 1st try so they have the money for marketing and the people to keep trying to reach these ppl.  And once they reach a owner they send the lawyers to them holding a check in their hand.  Saying yeah if you sign these papers giving us the right to collect this on your behalf well give you a partial payment for $$$$ RIGHT NOW.  Just sign the papers. 

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  • Member since 2020 · 5 posts · 1 vote
    6y

    I took the course. No support. I mostly taught myself. In NJ we need to know how to create and file a motion package to the Superior court. 

    Bob Diamond does NOT go into any of this. I did the research and did it myself.

    No support from his company. I am currently seeking someone who knows how to file a motion with the court. I will work with them 50:50. 

    You really need to know how to search for data through data bases. Each county is different. Each state is different. 

    Unless you have a legal background or a brother who is an attorney Save your money.

  • Member since 2020 · 2 posts · 0 votes
    6y

    Hamon, thank you so very much for replying. It's disturbing that after the time and effort you invested there was no return for you and you disliked the business. Your reply sounds like a warning to the rest of us who didn't spend on this course. I am wishing you the best luck and success. A lot of us are having a tough time to say the least. 

    Bonnie, thanks for your reply. Are you staying with the program? Is it working for you yet?

  • Member since 2018 · 27 posts · 3 votes
    6y
    Originally posted by @Pauline Jones:

    Thanks i had never known

    About this method

    Im sure its a lot more

    Complicated than they portrayed 

     It is more  Complicated than portrayed I don't agree with the previous poster at all it takes a lot of time and effort to get to the claimant and actually convince them to sign up and then it takes a lot of time to claim the money, I'm not saying it can't be done successfully know what you are getting into

  • Real Estate Investor · Dubliln, OH · Member since 2011 · 30 posts · 9 votes
    5y

    Who wants to buy the Diamond course in a Group....  If we get 10 People it is a small investment... 

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