One of my favorite investing strategies is to find a small niche that you can dominate. Our guest today, Nick Fulmer, did exactly that in the special area of recovering surplus funds and overages.
One of the things we talk about a lot on this show is how, in real estate, we really are helping people solve problems. They need money, or they need to sell their house so they can move, or whatever the case may be. Well, Nick found that by recovering overages and surpluses, he was able to help people even more.
In a nutshell, when someone doesn’t pay their property taxes, the county will come in and auction off the property. But, since it’s an auction with investors, the nature of the bidding usually drives the price up, and the property sells for more than what is owed. The county doesn’t keep that money, but they don’t do a good job of letting the homeowner know that they can make a claim.
That’s where Nick comes in. He works with the county to recover the money and takes a percentage of the overage as a commission. He recommends working with an attorney and having them submit the actual claim, that way you are working with a reputable 3rd party, and everything is covered legally.
To find out more about surplus funds and overage recovery, go to OverageSyndicate.com.
Watch and Learn:
Listen and learn:
- Finding your niche.
- What are surplus funds?
- How to recover tax sale overages.
- Use attorneys to submit your claims.
Mentioned in this episode:
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