Bob Diamond, creator of Overages Blueprint, claims that he and his team can teach you an effective method to make money in real estate. Unlike traditional real estate, there’s no need for a huge capital investment upfront here, says Bob. It’s true that it doesn’t require five figures to start but I don’t think it’s that effective. As someone working on unclaimed funds said, “I do not think overages is worth the amount of effort required.” Read the review below to know more.
Bob calls himself as a “tax sale attorney” that is involved in real estate negotiations for the past twenty years. Not sure if the said experience made him go bald like he is now, I wouldn’t dare to ask him either. Regardless, he seems like the real deal and not some make-believe persona. I mean, he had a lot of books and courses too on foreclosure investing, commercial real estate investing, wholesaling, buying assets out of bankruptcy, and buying out of probate. Basically, he’s a licensed lawyer and real estate expert at the same time.
Anyway, his course Overages Blueprint is all about how to make money out of foreclosed properties. Seems dark at first since you’re profiting off what’s basically a heart break for families who’ve lost their homes, but it’s not like you’re the evil guy or gal. In fact, you’ll be the hero here since you’ll helping them to regain their money. I’m talking about overages, the difference between final auction selling price and unpaid taxes (which triggers the foreclosure of property). Since you’ll be doing them a favor of securing all the necessary bits and bobs to recover the overages, you’ll get a commission of around 30%-40%. That’s what Bob says anyway.
In a vacuum, everything seems easy. Something that you can rinse and repeat for quick cash. But no, nothing’s easy here IRL. A few research in real estate forums and you’ll be singing in Coldplay’s “nobody said it was easy.” Literally nobody but Bob said it was easy.
To start, it is never true that all you need to be Gucci in this biz is his course, Overages Blueprint. Nope. You need to be good, or at least decent, in sales to be able to close deals. You know, a talent to persuade the people with overages to give you a meaty commission when they can do all the process by themselves. Sure, it’s a hassle for ordinary people to do but I’m talking about working with someone who just lost their homes. I don’t think they’ll be okay with losing something again in a form of steep commission unless you bring in the hypnosis pocket watch swinging.
Doing this biz also means you’ll be competing with big corporations, the finder companies of all types of unclaimed funds operating on a large scale. A David and Goliath-esque scenario but you’re not as special and blessed as David so you’ll get stomped by the giant creature, no sweat. For sure, you’ll be in trouble finding deals and snatching them from the big guys unless it’s close to not being profitable.
Even the percent cut said by Bob is not necessarily true. There are legislations on some states in the US like Texas and Arkansas that limits this commission fee to 10% at most. If it happens that you’re dealing with properties in those states, then say goodbye to profitability based on high percentage commissions. Having to know all these legislations too is such a pain too if you’re not a lawyer, something like reading an entire terms and conditions.
If you’re here reading this review because you’re looking for a side hustle, then I’m sorry but this is opposite of that too. It requires a lot of time and effort to pull off contrary to what Bob claims and is closer to a full-time biz than a part-time endeavor. No steady income every month either since there’s a significant long-time lag before you can get money out of this. I’m talking about waiting for four months or more.
I don’t say that Bob and his $1,497 course is a scam, don’t get me wrong. But it’s not a wise decision to pay thousands of dollars for a course that teaches a not-so-good business model. You’ll probably not be able to use it anyway if you’re just in it for a part-time gig.