Spencer Vann promises to show why tons of people are leaving their 9-5 for the so-called surplus funds in real estate. “You make money by giving people money,” he mentions to describe the surplus funds. No need to get your hands dirty and get yelled at with sleazy sales tactics to close real estate deals, says him. Turns out, it’s just the same ‘ol tax sale overages. More info on Surplus Fund in my review about it below.
Not gonna lie, it’s such a let down to realize that the business model is just overages. Specifically, it’s tax sale overages, but I’ll simply say overages because Spencer is not teaching about any other kinds of overages unlike Nick Fullmer. Anyhow, this dude is describing it like it’s a revolutionary way to get kaching in real estate. Something exciting like it’s a legal loophole that he and his business partner discovered to earn million dollars. Hell no, it’s not revolutionary nor THAT profitable like he mentions. Heck, you can’t even say you’re doing something different than everybody else by collecting overages either. Cut the BS, I guess.
But the more I dig down to the Surplus fund site, the more I see ridiculous claims that seem to deliberately bait people without any knowledge on overages (also the reason he calls it surplus funds and not overages, duh). In short, there’s no shortage of BS from Spencer and his program. Just a disclaimer before exposing all his lies, I’m not shaming those who don’t know a single thing about overages. Even the ones with overages usually don’t know they have one (hence, the business opportunity to collect ‘em on their behalf). The thang not being known to many doesn’t mean it’s some kind of money-printing “industry shaking” secret strategy, though. Strike one.
Strike two would be him implying overages as something new (yet again) when it’s not. And no, I don’t think he can teach you a “brand new breakthrough strategy” to do such. Or at the very least, it doesn’t really matter. The process to request for the funds is still the same, so there’s no need to reinvent the wheel. Funny enough, a fish is caught by its mouth. What I mean is Spencer subconsciously admits that the process is still the same on his simple three-step Find, Connect, and Collect (FCC) method.
The mentioned FCC method is as follows: Step one, find the people with overages under their name; step two, connect to those people, tell them they have unclaimed overages, and offer to collect them on their behalf; and step three, collect their overages and then take your “finder’s fee” once it’s all said and done. You might not be familiar with overages, but trust me when I say that there’s nothing new here. Not unless you count the business model being gurufied and taught at a steep price.
Finally, strike three would be him implying that the cold calling involved in collecting overages is light years better than the usual real estate. Nah. For every “yes” to your offer, there would be a more harsh “no.” The “yes” you can get can be actually quite rare given that you have collection companies and attorneys, literally a goliath to your David without plot armor and divine buff, as your competition. Not to mention those who’ll be suspicious of your motives (like seriously, you’ll probably sound like the infamous prince of Nigeria, a scammer, if you’re not a smooth talker) or those who’ll collect the surplus funds themselves once you notify them.
That being said, here’s some info on the program. The core training where Spencer spills the deets regarding his Robinhood method (not sure how it’ll be different to his FCC, but whatever) lasts for six weeks. There’s also a promise here of him helping you get a deal within 30 days (not mentioning the 2-3 months wait to get the surplus funds, though). The price of Spencer’s Surplus Fund? Well, the Surplus Fund program would cost around $1,500.
Obviously, I wouldn’t recommend Spencer’s Surplus Fund. Aside from the bad stuff I already mentioned, he’s also notorious for paying for almost all the articles talking about him and his program. It’s not new for gurus to do this, but he just made paying for a puff piece so painfully obvious by picking Monir Islam (as his writer) who’s equally notorious for doing the shady deed.