Those interested in real estate careers should take advantage of a golden opportunity that is currently very hot: recovering tax sales surpluses. There is no telling how long this opportunity will be around, but the next two years are key to making serious money in the real estate industry without owning or selling property. Other real estate careers just can’t keep up.
If you’ve never heard of a tax surplus recovery specialist, you’re the majority, and that’s why there’s so much potential income to be made. Most people, including former tax sales property owners, don’t even know that tax sales overruns exist. These are the funds that are bid on the amount of taxes owed on a delinquent property, when the county finally decides to auction it off.
These funds are often held for cash by their non-paying owners (it is their estate, after all). Most don’t realize it, for whatever reason: They either moved or just wanted to get as far away from the whole tax-selling ordeal as possible and assumed the government kept all the cash. What that means for people looking for careers in real estate is that there is a TON of money to be made in finder fees to reconnect these homeowners with their money.
Not only that, but these funds (and many other types of funds too!) are not governed by state law, as they are usually created locally. That means there are no caps on finder fees in most places, while state funds, like you’d find on state scavenger hunt websites, typically cap finder fees at around 10%. That means you can charge whatever search fee you want (40-50% is pretty standard for the few people who do this for a living).
As you can probably imagine, with foreclosures skyrocketing to this day, and surpluses reaching into the tens of thousands of dollars, as far as real estate careers go, the earning potential here is virtually unbeatable. 40% of a $10,000 surplus is a good payday of $4,000 for the full 8-10 hours of work that most cases require. Now is the time to get into this field, before the laws change.