Government Foreclosures Will Make You A Six-Figure Income in 2010
If you’ve been looking into investing in government foreclosures, you’re on the right track. As far as investing in property goes, you can’t beat the profit potential inherent in tax foreclosure properties. If you bypass the tax sale auction and purchase directly from the owners themselves, you stand to find some pretty good deals. (See http://deedgrabbers.com for more info on buying directly from owners.) However, even if you hate owning property, you can still get real estate sized paydays from government foreclosures a different way.
How? By focusing on the created at tax sale.
When more is bid for government foreclosures than is owed in back taxes, the government keeps that excess money for the owner to collect (this is true in most cases for both mortgage foreclosure sale, and tax foreclosure sale). If the owner never comes to get the money, after a few years the government gets to keep it. Unfortunately, since many owners have moved on from their last known address, they aren’t notified of the funds, and lose the money – permanently, with no recourse. That’s where you come in.
As a “found money pro”, or someone who researches these , you can easily make a six-figure income notifying people of the money they are unaware of. How? Two simple words: finder’s fees. Huge insider loophole: while in most states, state unclaimed funds have a cap to the percentage you can charge for a finder’s fees, most of these real estate created funds do not. This means that you can charge 30-50% (industry standard) for your assistance in recovering these funds. Is this ethical? Yes. Without you, 99% of the time, these owners will never find out about this money, and will lose it permanently. Most owners are more than happy to pay your fee and receive 50-70% than to receive 100% of nothing.
Especially in the current economy, more government foreclosures are happening than ever before. These overages regularly run into the tens of thousands of dollars. So for example, when you locate a $40,000 overage and get the owner under contract to allow you to assist for a 40% fee, when all is said and done, you’ll walk away with a $16,000 paycheck. Not bad for a few days’ work, is it?
So where to find records of these funds, and how to find their owners? Read the *free* Hooked On Overages “Insider’s Guide.” Visit now. Article Source:
Or, learn insider deedgrabbing strategies from this *free* guide. Visit now.
