FROM: Joe Kaiser
SUBJECT: Unclaimed Funds Advanced Strategy: Excess Funding
“What makes the unclaimed funds business so great?”
Finding money people have no idea they have coming to them, and helping them recover it.
And talk about value… often their money was on the verge of being seized by the agency holding their funds and we were the difference between getting paid and losing everything.
Students often ask…
Actually, there are several good ways to approach these types of unclaimed funds. You can use the standard “We’ve found your money” approach and collect a fee, and that’s not a bad way to go.
Or, you can work what I think is a much better play…
Excess Funding targets an entirely different segment of the found money population, MORTGAGE FORECLOSURES, (and btw, it’s huge)!
Rather than working on a handful of claims owed to people who don’t know they have money coming (maybe 5% of the foreclosure overage marketplace), we target the other 95% who do know.
Some people who know they have foreclosure overage money owed to them CAN’T CLAIM IT THEMSELVES.
Because they just lost their home in foreclosure and don’t have money to hire an attorney to submit their claim!
What good is a $25k overage when an attorney wants $1,000 upfront and you don’t have it?
But that’s only half the problem. Not only can’t they afford an attorney, the sheriff just posted a 3-Day Notice and they’re also being evicted from that home they once owned.
So, no money to make a claim, and worst yet, eviction started (with no money to get into a new place to call home). They’re stuck with no way out and need a hand, quick!
Can you see the play here?
One that delivers extraordinary value and solves a great big problem (don’t forget, big problems = big pay days)?
What, exactly, is the BIG problem?
Well, that’s an easy one… they’re about to be thrown out on the street.
What’s the solution?
They need money, and they need it NOW.
Enough to get them down the road with dignity!
What these people really need is just a couple thousand dollars in their pockets in the next week or 10 days so they can pay first and last on a new place to live. That’s their big problem at the moment.
It’s not about the overage they can’t claim on their own. Sure, it would be great to solve that one for them, too (and we will), but the big problem that matters today is getting them a few bucks so they’re not thrown out on the street.
(And don’t be concerned that you don’t have the money to advance them. I’ll show you how to handle that so there’s never any money coming from you).
What happens when we put $2,500 in their hands and they avoid being evicted, avoid living in their car, and avoid having their belongings dumped out on the curb in front of their home for anyone to come and take?
Seriously, what would it be worth to avoid having to put your family through all that? Answer: a lot.
If $2,500 means the difference between being tossed out onto the street, losing everything you own, and living in your car… or, having a new place to rest your weary head, that $2,500 represents… an EXTRAORDINARY VALUE.
Can you see that?
As excess funders, our clients move foward with dignity and avoid the pain and suffering they’d have otherwise endured as foreclosure’s aftermath.
First, we “advance” up to 10% of the overage to the claimant (and solve their immediate problem: eviction). In the case of a $25,000 claim, we’ll advance $2,500 to the former owner, giving him sufficient funds to move on.
Don’t have $2,500?
No worries… (we’ll show you how to do all of this without ever spending a penny of your own money).
And the other problem they need us to solve?
They still don’t have funds to hire an attorney and can’t claim their overage on their own.
We’ll solve that for them as well by hiring an attorney to recover the overages funds on their behalf, filing the paperwork and doing whatever is needed to recover their money.
Not only do they avoid the eviction and all the torment that goes along with it (like being tossed out onto the street), they also end up with a check for their share of the overages funds.
So, how do we profit as excess funders?
We advanced up to 10% of the claim upfront and hired the attorney to recover the claim. In exchange, they agreed to assign us the claim. And once recovered, we split the claim 70/30, with them keeping 70%.
When that $25k check arrives, we send them the $15,000 (the 60% they’re still owed – we’ve already advanced them 10%), and keep 30% ($7,500) for ourselves.
At the end of the day, they avoid eviction and all the horror that goes along with it, have funds to relocate to a new home, and pocket $17,500 (less costs).
We end up with $7,500 for having invested $2,500 (plus costs) for somewhere between two weeks and two months.
But what happens when we don’t have the $2,500 to advance, or funds to hire an attorney?
The solution is easy, and for at least the first few you may want to go this route… pay an investor for putting up the money.
“John, I have an interesting situation where you can make $1,000 in 60 days or less, just by putting up $3,500 so I can hire an attorney to claim funds for my client. The money is already sitting at the courthouse, waiting to be claimed. I can show you the file if you think you want in.”
That’s a pretty good deal for John or anyone else looking to make a quick $1,000. Since the money is already there, it’s an easy one to sell.
Remember, EXCESS FUNDING is a BRAND NEW unclaimed funds strategy, and it changes everything about the way we pursue foreclosure overages.
Years ago, I discovered remarkable “niche” play that makes EXCESS FUNDING the perfect solution for today’s foreclosure marketplace.
Only a handful of my coaching students know anything about this killer strategy, so you can be sure you won’t find anything like it, ANYWHERE.
Here are just a few things you’ll want to know…
• NO AGENCIES INVOLVED – It doesn’t require contacting government agencies for lists or making any kind of public records requests.
• NO PUBLIC RECORDS REQUESTS – Are you tired of making public record requests and getting turned down by government clerks for one technicality or another? Well, no more.
• NO WAITING – There’s no time lag between the foreclosure sale and signing up new clients. It often happens on the same day.
• NO RESTRICTIONS – None of the normal “finder fee” laws apply because we’re not finders of unclaimed funds. What are we? It’s all explained in detail.
• NO SECRETS – We actually tell the claimant EXACTLY where the money is (crazy, I know, but you’ll understand why once you see how it all works).
• NO COMPETITION – You’ll be the only guy or gal in your area working this strategy because no one else has figured this thing out.
• NO SKIPTRACING – There’s rarely a need to go looking for clients who are owed their foreclosure overages funds. Nine times out of ten… they’re still living right there in their home!
• NO “NEEDLE IN A HAYSTACK” – With tax sales, doable overage claims are the exception to the rule. With mortgage foreclosure overages and EXCESS FUNDING, virtually EVERYONE with an overage is a potential client.
• NO “HANDS OFF” PERIODS – With many unclaimed funds, local laws take some claims off the table for certain periods (you have to wait to give the owner the opportunity to find the money on his own). There’s never any reason to wait to contract with EXCESS FUNDING clients.
• NEARLY “INSTANT” PAYDAYS – You’ll get paid UPFRONT, even before the money is recovered. That means you can often collect your fee the same day the foreclosure takes place.
• And a whole bunch more…
If you’ve always wanted to recover mortgage foreclosure overages but weren’t sure how to pull it off, EXCESS FUNDING is the strategy you’ve been waiting for…