Overbid tax deed proceeds are the best-kept secret in the unclaimed money business. Most money finders breaking into the field start by working small amounts of money on common things like bank accounts or stock dividends, but these funds will not make you any money to write home about. If you want to make big money as a money finder, overbid tax deed proceeds are the place to start.

First, why you should skip those small funds mentioned above. These funds are almost always advertised on the state’s website so that anyone can look for themselves and see if they have any missing funds. It’s too easy for potential claimants and other finders to get a hold of this information, and in this business, secrecy of information is key.

Also, state law imposes restrictions on who can work these funds, and how much they can charge. In some places you have to be registered with the state, or be a licensed private investigator to work state funds; and 10% is generally the cap for what you can charge as a “finder’s fee.”

The way to get around these restrictions, of course, is to work overbid tax deed proceeds. These funds, which are created when a bidder pays more for a deed at tax sale than the former owner owed in taxes, are not restricted by state law in most places – AND they’re kept under wraps. These funds escheat – that is, they are seizable by the government after a short period of time. The government wants the money, so they don’t advertise these funds on the state website.

What this means for you is that there’s not much competition on overbid tax deed proceeds, and that you can charge 30-50% to recover them. Many owners who are owed these funds moved on from or never cared much for the property they lost, and are completely unaware of the funds’ existence. Thus, keeping your information secret is easier, AND you’re doing these owners a great service by getting to them before their funds escheat.

Working overbid tax deed proceeds is a no-brainer compared to state funds. They’re big, they’re secret, they’re mostly unrestricted and there are just tons of them. Find records, get the owners under contract for your percentage, and you’ll only need to do a few cases each month (out of the thousands being created by the record foreclosure rate right now) to bump your income into the six figures.

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