There's been some buzz recently in the real estate community about a new way to make money from real estate - big money - without having to own property. Tax overages still hasn't caught on in a big way, so the industry is largely unworked, which means a huge opportunity for smart people. Here's how to collect tax overages for huge finder's fees - as much as 50% of the overage.
1. Get educated. You need to know the laws regarding overages and money finders so that you can legally collect tax overages and avoid any issues. This is a big country, and it's perfectly legal in most places to go after tax sale overages, but in some areas there are laws outlawing it. So before you start, you need to get training and education - and this is imperative, even if you think you already know the law.
2. Request records of tax sale overages. Once you've found what agency holds these records, write a formal written request either via email or through the mail. Then wait to hear back and receive your list of records. If you want to collect tax overages, you'll have to do the legwork to get this part down pat. Many people get hung up on this step.
3. Find the owners of the tax sale overages. Using a professional skiptracer or skiptracing resources available on the internet, locate the owner's personal contact information. Once you have this you may want to also get info on the owner's family members, so you have the best chance of finding them as possible.
4. Contact the owner. While keeping your sources secret, you'll explain the situation to the owner. Once they've agreed to allow you to help them collect this source of money, you'll get contracts signed and in place allowing you to act as their agent.
5. Process the claim. Next you'll put together the request package and send it off to the agency holding the funds, and then check back with them to make sure the package was received and is being processed.
6. Get paid! The last, and most rewarding step, is when you receive that check and split it with the owner. Since due to a legal loophole, most of these funds are not subject to finder's fee caps, you can legally charge up to 50%.
These overages are being created right alongside the record number of foreclosures happening right now. As you can see, the process for helping to collect them isn't super complicated, and you can work the entire business from your home office. If you want to get in on a great real estate money making opportunity, this is the one to hit right now, while few people are actively pursuing overages.
The current foreclosure rate won't last forever - take advantage of it now.
When collecting overages, it's key to understand how to approach the owners so they don't try to avoid your fee. For a limited time, read the Hooked On Overages "Insider's Guide" To Tax Sale Overages for free: Click Here Now.
Or, learn techniques to get properties outside of auction for $200 or less. Free e-book at http://Deed-Grabber.com
