Finders Fees For Real Estate Investing – A Crash Course in Real Estate Money-Finding2 min read
If you’re already a real estate investor or just looking around for good ways to make money, you may have heard of people making huge amounts of money in finders fees. “Finders fees for real estate investing” would include finders fees for things like tax and mortgage foreclosure overages, and money that’s due to heirs in probate cases where real estate was left out and subsequently sold by the state.
Basically, when more is bid for a property at auction than is due on the mortgage, or due in taxes as the case may be, the overage in most cases is due back to the owner. But as you can imagine, many times the owners just assume they’ve lost everything, and move on, avoiding as much contact with anyone having to do with the foreclosures as possible. Unfortunately for them, if they don’t figure it out in time, the money is lost. These owners are the best to target for finders fees for real estate investing.
Unlike other unclaimed funds that are held by the state, due to a legal loophole that few have discovered, this money is not governed by state law. This means there are no limits on what you can charge for your finders fee. People working the business currently are charging 30-50%, and their right to do so has been upheld by court cases in several states.
Find the records of these funds, do the legwork to find their missing owners, and connect the two, and you stand to earn up to five figures per transaction. Since real estate overages frequently run into the tens of thousands of dollars, and more overages are being created every day, you could easily turn finders fees for real estate investing into a full-time, six-figure per year career.