March 27, 2020

Tax Auction Overages, with Bob Diamond

Episode 78:

Bob Diamond is a nationally recognized premier expert on real estate investing. Bob is a practicing real estate attorney, real estate developer, commercial real estate investing, wholesaling, subject to investing, buying out of bankruptcy and buying out of probate, as well as a published author of three books on foreclosure investing. You may be familiar with Bob from his appearances on FOX, NBC, or CNBC or on his real estate radio show.

Bob has personally worked on over $150 million in real estate investing transactions as an Attorney, from large corporate purchases and lease creation to litigation.

As a successful real estate developer and an active real estate investor, his combination of expert knowledge and real-world experience make him the go-to source for real estate investor training.

What you’ll learn about in this episode:

  • How Bob discovered his current niche in the long recovery after the 2008 market crash, and how today’s market is beginning to mirror conditions during the Great Recession
  • How the “overages” business works, and why this niche is ideal during periods of economic challenge
  • What kind of returns you might expect on your investment in an overages deal, and why these types of deals are easy to do especially in current market conditions
  • How money is generated when a county sells a property at a tax auction, and how any money above the amount of taxes owed on the property is allocated to the owner of record
  • What first steps to take if you are interested in investing in the tax auction overages niche
  • Why people new to this type of investing tend to begin by investing in properties in their own state
  • Why these methods won’t work in New York, Colorado or Michigan, where the overages are kept by the government
  • How to get access to Bob’s online overages course, and how to sign up for Ron’s virtual summit from April 1-3 where Bob will be discussing his overages strategies
  • Why in times of economic challenge there are always new opportunities available if you’re willing to look for them

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Additional resources:

2 Comments:

  1. Chuck Hoskins says:

    Lets assume I have contacted the tax foreclosed owner of a house and obtained their permission to to retrieve the overage from the sale. What does the taxing authority require as to verifying the former owner’s identity? Will the county or city that foreclosed want title work from a title company? What will satisfy them to release the overage?

    1. Debbie Waters says:

      Hi Chuck,

      Here is Bob’s response to your question! Thanks

      Generally speaking one form of government ID is required from the former property owner. We get this from the notary who takes a photo of the person’s ID when they notarize the papers.

      Most counties do not want or need title work. They want their form filled in. They already have title work from when they did the foreclosure and needed title work to notify each affected party of an upcoming tax sale. A few odd counties do want a title report. If you want to know what they want you will get the “package” of forms from the county which tells you exactly what they want. Generally that means their county claim form filled in, a copy of government ID and the form needs to be notarized.

      Since you are working as a third party there are a few additional forms which you need and which we give you. We supply all the forms you will need with the course, along with instructions and if you have a question about something you can ask through support and we will help you.

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