Anyone with more experience than I care to review the course at http://www.surplusfundsriches.com/?
Even if you have not tried this but are familiar with real estate…do you think this sounds legit?
Has anyone tried to enter this type of business?
Any thoughts would be very appreciated as I am considering this quite strongly but cannot afford to waste my time as I need to pay the bills like everyone else!
Thanks!
Yes it is probably legit. There have been many forms of this type of activity for decades. One I used to make a nice amount of side money from was property tax sale excess funds in California. Simple a lot of tax sales occurred and the owner of record didn’t know about them and the counties didn’t go looking for them.
So you found them and told them they had X amount of dollars out there and time was running out (one year and the county kept the money, so they didn’t like me) and for whatever percent you wanted as a finders fee you would get it for them. I didn’t run into a single person doing this for the first ten years, but people I helped out in other counties to start this to cure their financial problems couldn’t help but start bragging and the word got out and soon there were a ton of people doing it, including my home county.
Another case was the old unpaid FHA insurance refunds. I met a real estate broker who told me about a kid in his office finding people due FHA refunds. The broker had one coming from selling his own home and when he requested it, the FHA sent him a big box with the computer print out for his area, and he had this 19 year old kid go through the printout to find his.
Well the kid was smarter then the average bear and he asked if he could have the printout after he found the brokers entry. He then started finding the people due a refund for a finders fee, and made a ton. So I put my two sons to work after school for my area and soon they were making as much as I was.
Then someone found out and decided to sell a course and later everyone was doing it, selling courses and looking for refund prospects and the cream was gone. So it was like getting in at the top of a pyramid scheme. I later changed my approach from finders fees to something else but quit it all together as the return on my time and money was better elsewhere.