Foreclosure Surplus Funds


I’ve been around real estate investing almost my entire adult life. I’ve heard, studied and toyed with some of the hundreds of “nothing down” theories of real estate investing. I’ve determined that in order to succeed using little or none of my own money I either have to be a thief or the seller of a property has to be equally desperate, uneducated and without counsel or advice of any kind. Not likely.

I like to conduct myself in terms of the “do unto others” phrase. I was recently reminded that not everyone adheres to the same ideas. I was shocked at a recent real estate investors club meeting by a statement I overheard one investor making this suggestion to another.
 
The investor was professing on how and why she only puts deposits on her contacts to purchase real estate in the amount of $1.00. I had to stop and ask this question, “Now I certainly understand the benefit to the buyer”, I explained, “But, would you accept a contract as a seller with only a $1.00 deposit?” I asked. She danced around the question for a minute or two citing all sort of conditions and caveats, but she ultimately had to answer, “No, I would not.”

My point here is not to destroy the notion that investors can by real estate with nothing down. However, it is to point out that I have discovered the truly, one and only way to make money investing in real estate without using any money from anybody, no credit, no word games, nothing, zip.

But, first we need to settle on the definition of real estate investing.

One definition of real estate investing is to acquire property for sale or rent. It’s very possible that this is close to your idea of investing, and rightfully so, however my definition is very different.

I define investing in real estate as, “any action involving a real estate transaction that I can take to make a profit by outsmarting or outworking anyone and everyone else”. Please take note that I say nothing that requires me to take possession of the property, in fact, I prefer not to if I can help it.

Most experts have their own opinion of what real estate investing involves. As you would expect, I too have an opinion and an expertise. My opinion you’ll read, my expertise, lies within the opportunities presented by defaulted real estate, and public auctions are among my favorite.

There are several different types of public auctions.

The auctions that most people would be familiar with are; foreclosure auctions (held by the Clerk of the Court in Florida) tax deed auctions (held by the County Tax Assessor in Florida), and sheriff’s sales (held by the County Sheriff in Florida).

Each auction has its own inherent risks and should not be attempted by anyone other than the professional investor. Auction attendance and participation is truly a specialty and unless you are, or plan to become, an expert in one or all of the auction types, leave auction participation to the professional investors. I’ll show you ways to leave the” heavy lifting” to the professionals. We can make a fine profit from picking up their scraps.

In each of the above described auction platforms, should the subject property be sold to any third party bidder or investor, as opposed to the Plaintiff or the Applicant, (whichever the case may be) there will be excess money that needs to be disbursed. I’m going to refer to that money as “surplus funds”.

In other words, if the plaintiff is entitled to $50,000.00 and the sale of the asset brings $75,000.00, a surplus of $25,000.00 would have been created.

The Governmental Official charged with the authority to conduct the auction also has the responsibility of notifying the party entitled to the surplus funds. In some instances the notification process involves sending a letter to the last known address of that party. In some of those attempts, notice never gets into the hands of the proper party. The real truth is that the letter, more often than not, is returned to the sender leaving the party entitled to the money completely unaware of the existence of the funds.

There are millions of dollars of surplus funds sitting in courthouses and state comptrollers offices throughout the nation. All we have to do is figure out how to find the money, determine who is entitled, locate that party and get paid for our efforts.

My training course “Surplus Funds Location and Recovery” will attempt to do that and more. Surplus Funds Location and Recovery Product Page | Surplus Funds Location and Recovery Live Event Page