Bob Diamond shared how he and his team has been doing a business related to overage, tax lien, tax deed, and real estate for years. He claims that they are world-class real estate experts and cannot wait to see you become an expert too through joining his coaching programs. In his site, it is indicated that he can help you learn effective money-making techniques related to real estate. Is Bob Diamond a trust-worthy individual and truly a real estate expert? Read this review to learn more about him and his programs.
Bob Diamond who calls himself the “tax sale attorney” is an expert on laws and deals related to real estate. He founded several real estate coaching programs such as Overages Blueprint, Tax Sale Blueprint, and Overages Workshop Live Event. He is also a real estate developer, an active investor, and a practicing attorney since 1993.
Bob Diamond acquired his bachelor’s degree in Finance from Villanova University while his law degree is from Temple law school. Before graduating on the said law school, Bob has already started his real estate career by practicing real estate foreclosing and disposing, and modifying loans. Soon enough, he was able to gain a reputation for litigation and negotiation. He secured a spot on Cozen O’Connor’s prestigious law firm where he gained valuable insights on handling real estate duties and portfolio of assets.
For the past 20 years, Bob claimed to be personally involved in negotiation of over $100 million in real estate transactions. In the said transaction, he is either a counsel, an advisor, an investor, or an agent. From the said experience, he was able to be an author of books and courses on foreclosure investing, commercial real estate investing, wholesaling, buying assets out of bankruptcy, and buying out of probate.
On Overages Blueprint (which is Bob Diamond’s flagship online course), he mentioned taking advantage of a loophole regarding foreclosure of property. Basically, you will find auctioned off properties due to unpaid taxes and recover the excess funds (called as overages) that is the difference between final auction selling price and unpaid taxes for unknowing customers. Once you recover such funds on behalf of the customer, you will receive a 30%-40% commission from them. Sounds easy, right?
It may sound easy, but it is quite the opposite. Bob implies a lot of things which is not necessarily true in practice. First is mentioning that his course is all you need to be successful in the business model he offers. However, it is not the case since you also need to have managerial and business skills such as closing deals that is beyond the scope of Bob’s training.
The business having little to no competition is not necessarily true too. In fact, your competition on good or at least profitable deals are usually finder companies of all types of unclaimed funds operating on a large scale.
The 30%-40% cut is also not true for every place since there are legislations (like in Texas and Arkansas) that limits this “finder’s fee” to 10%. Worst, this is a full-time business that requires a lot of time and effort to pull-off contrary to what Bob claims as a part-time endeavor.
To add, all of Bob’s programs includes a rather useless refund policy. The said policy states that you can only get your money back if you request a refund within 3 days of purchase. You may also unknowingly download a legal form from his program that will instantly void your warranty. Bob claims to state the said policies clearly, but the complaints on Better Business Bureau (BBB) says otherwise. Those who are requesting for refunds also mentioned that the program was “nothing like what was presented in the initial webinar (sales pitch).” Lastly, there are mentions of pressure selling and upsells within the program.
Bob Diamond is not a scam. In fact, all of his programs are reasonably priced (minus the upsells) and offer a legitimate business model to earn money. Bob is also a true expert on real estate and has been featured on known media outlets such as FOX, NBC, and CNBC. However, it is advisable to skip his programs if you are looking for a beginner friendly side hustle business. As someone working on tax properties commented, “I do not think overages is worth the amount of effort required.”
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