When most consider careers in real estate, they initially turn to the idea of pursuing a license to become a realtor. The commissions seem okay, but it takes a lot of leg work to close a single property. There are the exhaustive travel times, obnoxiously picky clients, and months at a time can go by without a single sale. All of the sudden, the cons start to outweigh the pros, and again we are left wondering about the ideal real estate career.
Well, there may be a light at the end of the tunnel, if you’re looking in the right place. Real estate tax sale overages offer many opportunities that being an agent (or other similar real estate careers) could never compete with. The primary advantage of working the tax sale overage angle is that the earning potential skyrockets, while the frustrations of being a real estate agent disappears.
Tax sale investing is a game for large investors, home building contractors, and “people in the know.” This may be true, but there is a way to get involved without the need to compete with these Goliaths. The way to go about achieving that is by smart and letting the big money duke it out, and then by taking what is left. This is precisely how an Tax Sale Overage Specialist makes their income.
Almost all tax sale auctions produce “bidding overages”. In other words, bidders end up paying more than what is actually owed on the tax note. This overage is kept by the state after they satisfy the property tax bill on file. The money, as written in state law, is rightfully owed to the original owner of the property. However, in almost all cases the homeowner never returns for these unclaimed funds. The primary reason is that most do not realize that it is there to begin with. The state is not under obligation to seek out these individuals. Not to mention, the state will eventually get to keep this money if it is not claimed within a certain time frame.
As a Tax Sale Overage Specialist, you simply help the owners claim their money. In doing so, you’re compensated with an average of 30% to 50% of the overall claim. These commission rates are industry standards, and the claims commonly run in the five to six figure ranges. The job itself requires a home office, an internet connection, and a phone. No need to drive or deal with unrealistic client expectations. Find, connect, and get paid.