All Forum Posts by: Jake K.

I agree with you. I did research and most real estate tax attorney is offering this service directly. Also, the finder fee that most so call guru tell you to charge is exorbitant. Just be careful what you buy

Originally posted by @Wayne Brooks:

@Tyrone Harris @Tammy McBride I think k the fallacy of this system is that this company probably has multiple people working as “researchers” in your area, all going after the same leads. I also suspect the vast majority of this company’s income is in selling folks like you the system and Very little from actually collecting the surpluses for people.

One thing you guys need to realize, at least in my area, there are only one or two firms making any money at this, and it’s only part of what they do.

AND....those few people that are Acrually making any money at this are contacting the people owed a surplus THE DAY OF THE SALE, by email and cell phone. Once you find a “list” of people owed a surplus, YOU ALREADY WAY TOO LATE. I can assure you, the people selling you this program know this.

Sorry to tell you, but you are wrong. And,every opportunity has its ups and downs.

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Anyone?

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Does anyone have experience with using kixie. Com? I'm looking to get a dialer and everyone is mentioning mojo but mojo is twice the price

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Originally posted by @Wayne Brooks:

Most properties have Mtg,s or other liens, so most have no surplus due to the owners. Many newbies trying it, experienced operators doing it, 12% max fee, doesn't seem appealing.

Not completely true, only 12% in Florida and only on certain types of surplus

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Originally posted by @Latoya Wright:

As a newbie into RE, I have been doin some research without help. There are 2 business I want to try to get into:

Wholesale or Overages surplus

From what I hear and see RE Agents dislike/Hate wholesalers, I’ve seen aggression on BP towards them like they are a disease or something and my aunt is a RE Agent, I don’t want to clash with her. On the flip side wholesale is said to be a good way to get into RE without the pain in the *** license, and it’s something I can do without cash in hand.

Overages seems like another good ways to get into RE without a license and no cash up front. But the process seems drawn out without an attorney... some even says The the likelihood to get into legal trouble is high if done alone.

I’m at a crossroad... thoughts anyone?

Nick C is absolutely right! Wholesaling is hard! Don't believe any guru who pontificates that it's soooo easy, the concept is easy but the reality is hard....as far as Overages go, it's the same idea. Easy concept but an even harder learning curve and it takes an average of 3-6 months to see any money from a deal...at the end of the day,you need to work hard. Neither one of those options are a get rich quick scheme

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Originally posted by @Jeff B.:

If it sounds too good to be true - - it is. That fee is atrocious and instead of working REI, the promoter is selling books and course work. As noted above, it you were wearing the other shoe, how would you feel with this approach?

Pick a real REI strategy instead of one from the Get Rich Quick column.

Not true. Overages is real, but just like any other division of Real Estate you have to put in the work. Some guru might be saying it's all easy to get the people signed up and everything ,that isn't true, it takes real work but it's a legitimate avenue of real estate, it's very easy for people who never did it to be armchair quarterbacks and say, this is not legitimate or this isn't real, blah blah blah.. I think that goes with most other niches that are a little bit out of the mainstream

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Research what properties sold for to cash buyers also speak to investor friendly real estate agents to get a better sense of it

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Originally posted by @Jake K.:

Originally posted by @Joe Villeneuve:

Originally posted by @George Joy:

Originally posted by @Joe Villeneuve:

Originally posted by @Jonathan Yeh:

Originally posted by @Joe Villeneuve:

None of the above. I would use it over and over again...and never spend it.

When you said you would use it over and over again, what are you referring to?

Use it like your seed money. NEver spend it. Use it as many times as you can. To do this you must flip the cash. Notice I said "cash". Every time you flip it, it comes back to you with friends. Reinvest (use/flip) both over and over. It grows exponentially. Eventually you "spend" (one use) the profits (friends)...but NEVER spend your seed money. Once spent, it's gone forever. Use it (many times), and it's the gift that keeps on giving.

Best answer on here. I moved to the US in 2005 with close to $500K in cash from sale of businesses and primary residence in the UK. If I could go back and do it all over again, I would do exactly what Joe is advising and I would be sitting back, fat, dumb and incredibly happy as a multi millionaire. I didn't, got arrogant and squandered it on bad investments, big boy toys, a divorce (thinking back the divorce wasn't a waste...) and one house. I've made money selling some of the toys but I made a lot of money selling the house. (VA repo, bought way under market, rehabbed then flipped) I realize this isn't your situation but Joe is giving you the best advice I have read thus far.

Thanks George. Let me add one more thing to this.

For those that think that money is a noun...you're wrong. Money is a verb. When it becomes a noun, you lose.

That is such good!

I meant Gold! :)

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Originally posted by @Joe Villeneuve:

Originally posted by @George Joy:

Originally posted by @Joe Villeneuve:

Originally posted by @Jonathan Yeh:

Originally posted by @Joe Villeneuve:

None of the above. I would use it over and over again...and never spend it.

When you said you would use it over and over again, what are you referring to?

Thanks George. Let me add one more thing to this.

For those that think that money is a noun...you're wrong. Money is a verb. When it becomes a noun, you lose.

That is such good!

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All Forum Posts by: Jake K.

Jake K. has started 36 posts and replied 191 times.

Post: Tax Overages

Post: Tax sale overages process

Post: Kixie Reviews? (Like Mojo dialer)

Post: Kixie Reviews? (Like Mojo dialer)

Post: Unclaimed excess tax deed sale proceeds

Post: Wholesale or surplus overages

Post: Overages after a tax sale foreclosure

Post: Wholesaling in California

Post: What would YOU do if you have a large sum of money?

Post: What would YOU do if you have a large sum of money?