Let’s jump right in, because I just LOVE this story (and it’s a true one, which makes it even better). There’s a guy living in the Midwest, we’ll call him “Joel,” and you’ll see in a second why we aren’t using his real name. Anyway, there’s this guy up in the Midwest and a few years ago, he hit some hard times. You know, the kind of times where you have to decide which bills to pay and which ones to let slide and Joel, well, he decided to keep his lights on and feed his family at the expense of his property tax bill. And, as these things go, that property tax bill mounted up but Joel still was working hard, feeding his family, keeping the lights on, but he just couldn’t catch those taxes up until one day, three or four YEARS after that first delinquency, Joel’s house was foreclosed by the local government and he had to move out so it could be sold at auction. Now you know why we’re calling him “Joel” instead of his real name: not everyone likes it when they have to relive a tough experience like the loss of a home through foreclosure over and over again years after the fact!
So you might think that was the end of the story, and in fact, Joel did. He packed up his family and moved into a rental and started trying to make a living as a WELDER, but although he was a great welder, he wasn’t certified, and that severely limited the amount of money he could charge for his services and the number of jobs he could get. He was in a kind of vicious cycle that it seemed like he might never get out of until…(and this is where the story gets good for Joel AND a certain real estate investor named Bob, his real name, and I’ll tell you more about him in a minute) Anyway, until BOB called Joel up with some fantastic, seemed-too-good-to-be-true-but-it-was-true news: the city government that had foreclosed on Joel YEARS ago and sold his home at auction had actually sold that home for way, way more than Joel owed in taxes and that money, called an OVERAGE, by the way, had been sitting in a government SLUSH FUND where it would have stayed FOREVER if Bob hadn’t spotted it. And now, Bob was prepared to send Joel a $12,000 check in the mail!
Now, before we get back to that check and exactly what it meant for Joel, let’s take a minute to talk about real estate investor Bob. Bob’s not just a real estate investor, he’s also a real estate attorney. And he’s been using this OVERAGE SYSTEM to right the wrongs done to foreclosure victims EVERY TIME THERE IS A TAX SALE anywhere in the country – and he’s also managed to build a really nice business out of the process as well. Bob has a proven, well-oiled-machine of a system for identifying OVERAGES and finding the individuals who are owed, and do you think that they’re HAPPY to pay Bob a finder’s fee for that service? Well, I’ll get back to Joel’s story and then let you tell me.
So anyway, Bob called up Joel and told him that he had $12,000 to send him, and Joel went through the roof with joy. “He actually offered to drive to my office, which was several states away, to pick up the check,” Bob told me, adding that he Fed-Exed it so it would get there overnight. What did Joel do with the money? Well, he got certified as a welder. Specifically, he got an MIG welding certification, which is a certification that basically any welder who wants to work in manufacturing or in a fabrication shop has to have. It’s not cheap to get, but it meant, Joel told Bob, that he would be able to make $68 an hour and probably fantastic overtime on top of that. As you can imagine, that was pretty life-changing, and it sure means Joel is unlikely to ever lose another house to a tax sale!
And what did Bob get out of it from a monetary standpoint? (Because, admit it, there’s nothing wrong with wondering, and unless you’re a trustfund baby you probably can’t be a full-time philanthropist starting today). Anyway, Bob got a finder’s fee. In this case, it was a few thousand dollars because, get this, a $12,000 check “isn’t really that big” when you’re talking about overages. A better example might be the amount that Bob made when he was able to send a $63,437.25 check to a guy named Robert (his real name, by the way). That sucker not only changed Robert’s financial situation IMMEDIATELY, but it netted Bob just over $19,000 in finders fees as well. And folks, don’t you think that most foreclosure victims are DELIGHTED to pay those fees since Bob knew how to find that money and get it (trust me, the government doesn’t exactly make it easy because they don’t want those abused homeowners to have those funds)? Of course they were! In many cases, it’s the best news they’ve had SINCE THE FORECLOSURE.
And you don’t just have to believe me, either. You can get all the details on how this works, how YOU can do it, and how you can BUILD A HIGHLY PROFITABLE BUSINESS literally playing Robin Hood taking from the greedy government and giving back to the poor homeowners who have been victimized by that government by going right now to www.rei.today/amazing to get all the details. Our publisher, Bryan Ellis, will be hosting a free training event that exposes all the government corruption behind the overage system, how you can play a major, meaningful role in righting these wrongs, and how to build a business that literally grows off the good that you are doing, this week. It’s free, but space is limited, to head over right now to www.rei.today/amazing for all the details. And if you want to see a few of the checks that Bob has gotten for his role in the Robin Hood process (and remember when you do, FIVE FIGURE SUCKERS ARE A FRACTION of what the homeowner got), check them out in the REI Today Vault! Not yet a member? I’ve got you covered! text REITODAY no spaces, no periods to 33444 and I’ll immediately send you the information you need to get that access and ALSO provide you with fast, immediate access to all sorts of great trainings, news coverage, interviews, and lot more timely information that will help make your investing safer, faster, and more profitable.
And remember, when you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country. Text REITODAY no spaces no periods to 33444 or head over to www.rei.today/vault right now.
REI Nation, thanks for listening in and always remember this:
Your best investment is your own education.
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.