Nick Fullmer is asked too many times on what’s the difference with his Overage Syndicate course compared to Bob Diamond’s Overages Blueprint. Probably getting tired of getting the same questions over and over, he breaks his silence on the subject matter and reveals what makes his course different. Difference number one would be him including both mortgage overages and tax sale overages in his course compared to Bob, his previous mentor, only teaching the latter. Read on for my review below for more info.
To continue, Nick claims that his course teaching both types of mortgages is an important distinction. Knowing both means more areas to work from, as compared to only knowing tax sale overages, and ultimately, leads to more deals and more finder’s checks towards you. To clarify, tax sale overages is only limited to certain states because there are some government bodies like those in New York that basically keep the change to themselves. Meaning, no excess funds aka overages for you to collect.
To clear any confusion, let’s describe the two side-by-side. With tax sale overages, the foreclosure of the property is triggered by the homeowners not being able to pay their property taxes on time. With mortgage overages, it is triggered by not being able to pay mortgage payments instead. The government body usually handles the auction for tax sale overages while a trustee, usually a law firm chosen by the lender, handles the auction for mortgage overages. And what is New York (and any other states that keeps the excess funds from auction sales to themselves) to tax sale overages is banks repossessing the property to mortgage overages. The latter happens when there’s no buyer of the property during the auction.
Whew. That’s a lot to process, hope I’m not overwhelming your brain with info overload. But all that info just leads to a rather simple bottomline. That is, I agree with Nick that knowing both types of overages is better. Paying an extra five hundred bucks to know a whole ‘nother opportunity to collect overages is worth it IMO. Doesn’t necessarily mean that it’s a worthy buy as a whole, we’ll get to that later. For now, let’s continue talking about the differences and in turn, describe Nick’s Overage Syndicate.
Difference number two would be Nick only having a receding hairline while Bob is completely bald and hairless like a newborn baby. Just kidding. I’m not lying about their hair (or having none of it, oops), don’t get me wrong, but that’s besides the point. If you ever watched Encanto, I hope you do BTW, I’ll use a reference there and say that we give the topic the Bruno treatment – we don’t talk about man’s hair. No no no.
All the jokes aside, difference number two would be how Nick teaches his course. He teaches by showing, while Bob teaches by telling. Learning from him is like looking over his shoulder while he does the biz in real time. On the other hand, Bob sticks to a traditional powerpoint type of teaching style.
The other differences are as follows: Program’s founding year (Nick’s is much more recent and so he claims to being more up to date), website offer (Nick only refers his students to a trusted website builder to avoid giving generic sites like Bob), and partner opportunities (Nick offers one, Bob has none, ‘nuff said).
Yeah, this is turning out to be a puff piece by Nick to show he’s better. And I think he is, but it doesn’t mean I’ll turn into Mark Cuban drivin’ around downtown and beggin’ through text for Nick’s Overage Syndicate. Nope, I’m still not down to paying the steep price for a business model I really don’t recommend. The price of Overage Syndicate? Well, Overage Syndicate cost $1,997.
Besides, I’ve found out that knowing mortgage overages on top of tax sale overages doesn’t really move the needle that much. Sure, a backup strat if you’re in a state without tax sale overages wouldn’t hurt. But unlike tax sale overages where the rightful owners usually don’t know that they have overages, it’s quite the opposite for mortgage overages. They usually know. And that’s because trustees usually try their very best to notify rightful owners about their overages. Thus, you’re usually not needed anymore. Ouch. If I were you, I’d skip this course.