How To Sign Georgia Assignment of Partnership Interest

How to document type sign assignment of partnership interest georgia

what's up youtube welcome back to the page i'm your host eric richardson now look there's some changes that's going to be made it's no longer called overage overflow we're moving it all to money making juggernaut the reason why this page is not only going to be about tax over just surplus funds things like that we're going to teach you a lot of different ways that you can make money the money making juggernaut is going to teach you multiple streams i'm going to start having guests on the show we're going to be talking about real estate investing you guys already know that we're questioning with airbnb we're going to start having some stock market segments we're going to have forex of course just all type of investing things where you can we're just going to be talking money i'm going to be bringing guests on like i said so if you want to be featured on the show let me know and we can move forward with that now this is the last video of 2020 so i'm gonna do some reflections but first i'm just gonna do a quick breakdown on surplus funds which is the same thing as taxi over just excess funds things of that nature versus state funds because there's a difference and i know a lot of you guys have been confused on that and i just want to make this video as simple as possible break down exactly what it is how we can assess a system the percentages you can charge the documents that are needed you know if you need attorneys things like that so let's just go ahead and get straight into it so surplus funds and i know last time i did this video on the board it wasn't a dry eraser you guys couldn't really see it surplus funds is a surplus which means this is excess funds or an overage from a foreclosure now this can be either a tax deed or tax decel or it can be a mortgage foreclosure also it could also be bankruptcy now you can make money in those ways with mortgage foreclosures and bankruptcies i don't do those i stick to tax these sales there's also tax lien sales as well where the owner has time to essentially redeem the property i don't go after that well after tax these sales it's the simplest okay so this is when a property so there's a homeowner they didn't pay the taxes on this home let's say the taxes were three thousand dollars that they didn't pay so this property the county once they're three thousand dollars this property could be worth let's just say a hundred thousand dollars it's worth that they're going to hold an auction now at this auction the opening bid is going to be the taxes that's due so three thousand opening bill is gonna be three thousand now usually at these tax the auctions at these tax d sales properties are gonna sell for like 70 to 80 percent of the success value so let's just say it sells for 80k so it sells for 80k that means there's a surplus of 77 000 that is due to the previous owner the county only wanted their taxes they got their taxes due to state law any excess funds any overage any over bid remaining profit from the auction is due to the previous owner so the 77 000 is due to the previous owner but here's the thing the counties don't really reach out to them in a way that they can you know get these funds and most of the time they send letters to the last address of record which was the property that just got foreclosed so they're never really figuring this out so what we do is we step in and we see that 77 000 is owed to the previous owner what we do is we go on the county's website because this is all public information that is on there for free and i always recommend people to start streamlining it figure out when they have auctions so you can know exactly you know when over bids occur because you want to be either the first or the second person making calls so you go to the county's website you're going to get a list okay an access funds list is a taxi surplus list they're going to call a lot of things some counties call it sheriff list and you'll see who's owed this money and what you're going to do is you want to go to the property appraisers website and excuse me guys for my terrible handwriting but the property appraisers website will will be able to match up who that previous owner was before that foreclosure because you want to verify that that was the previous owner and not the new owner who just purchased the home so once you do that you'll also be able to find taxi documents things that will support your um claim so after we figure out who the previous owner is we know that they're old money what we're going to do is we're going to skip traits so we're going to skip trace there's many websites that you use for skip tracing we're going to skip trace them we find the owner after we find out who the owner is their phone number we're going to reach out to them there's many ways to reach out to them the best way is cold calling get them on the phone you explain them what we do we don't charge any upfront fees we handle all attorney fees we do charge a percentage on the back end typically 15 to 30 okay so i'm not even gonna do the math right here let's just say um 10 just to be basic on that that's 7.7 k that is a fee that you have just made for assisting them with getting their funds okay so this can be very lucrative now keep in mind that doesn't mean that this is easy it is simple there are simple steps to achieve this you know once you file this there's some paperwork you're going to need limited power of attorney okay in some states when you actually have to file a motion you're going to need assignment of interest okay you're going to need your agreement contract that's just stating all your um duties that you're responsible for and then you're going to have the um surplus clean form directly from the county or an affidavit for the surplus funds to be released okay so these are the documents that you're going to need for surplus funds for tax the overages now let's go ahead and get into state funds now state funds i really like state funds now with state funds this is going to be unclaimed property okay so this can either be like leftover bank accounts and you guys would be like damn how the hell is somebody gonna leave a bank account who's gonna be doing that but it's true there's a lot of money that's left over people just you know things happen some people get to see there's money owed to them they're family members and they're just gonna do it they can be a safety deposit boxes safety deposit boxes it can be you know unclaimed settlements stuff from um insurance claims stuff like that it's a lot of reason there's a lot of reasons why people you know just haven't claimed their money and the money can be you know sitting at the state treasury's office for a long time now with this there's each state is going to operate different each state is going to have its own laws most of the time these states are going to have an individual database where you can search so you i even recommend you guys go now to your state treasurer's website and look up family members i literally just helped my aunts the other day recovered some funds um it wasn't a lot of money you know but it's just showing out there that there's people in your family that can be over this money so they're gonna have a database where you can search individually now some states you have to be a private investigator or a licensed finder now don't get afraid this isn't nothing that is you know difficult most of the time it's a simple application [Music] simple application and then also there's going to be some fees associated so the application fee you know be anywhere from like 60 or 80 so you got the app fee also you got your fingerprinting for the background check and most likely a money order you got to send them a money order for the background check now not every state requires this there's a lot of states that don't require this but there's another fee associated you have to get the list from the state treasury's office and this can be anywhere from literally free california is free it's already online five dollars to upwards of 300 like colorado colorado's list is 300 to get it they don't have any requirements as far as being a pi or a licensed partner just cost 300. so if you actually want to take this business serious there's business expenses a lot of you guys are looking for ways to just hop in into a business for free that's not out there especially a business as lucrative as this you're not going to get that but this is like if you think of any other business model you're going to have expenses these expenses are one-time fees and they're not really expensive like that so you can run a good business so okay you get the list after you get the list of people who are owed money and it's going to tell you too on the list it's going to tell you exactly what's owed to them what institution was you know reported these funds it's going to tell you who's owed this money it's going to give you address all that then you're going to follow similar steps to overages you're going to skip trace them you're gonna get them on the phone or you can send out mailers mailers work with state funds because this is money that they will actually remember with state funds you can say hey did you you know have an account with bank of america back in 19 blah blah blah oh yeah i did well look sir based on you know i can't give out the whole cost credit but they will actually remember this and be more apt to work with you opposed to tax over just surplus funds this is money that foreign to them so then you're going to get a little skeptical you're going to have a little bit more negotiation skills build um trust with your clients stuff like that but with state funds you're going to get more conversion stuff like that you're going to have faster payouts and then also some states send your percentage directly to you now let's talk about percentages so some states will charge 10 usually that's customary that's the max that you can charge for state funds 10 some states you can even charge up to 30 but there's going to be laws so you need to look into the laws and and make sure you're doing everything correctly because if you do any type of legal stuff you act like you're working for the state stuff like that that is a misdemeanor and you will get fined so you they do not play about that also a lot of you guys might be asking well why can't they just do it themselves just like surplus funds yes they can do it themselves but they don't know about this money that's what we're doing we're stepping in asset recovery company so you step in and you assist them you know charging 10 to 30 percent if the state's um regulation is to send that money straight to the claimant that's okay you know you have it in your contract you know whatever party receives these funds you have 10 days to issue out the payment or you do treble damage which just means you can you know it's legal legally binding this is you know this is serious and most of the time you're helping people out they get their money they have no problem invoicing you they're not gonna undercut you like that this is why you build good relationships with people now there's documents for filing this now most of the time with these documents you're going to have to have your agreement contract your agreement contract and that's just saying all your duties that's saying where the funds were reported the amount of this unclaimed property and then in some states you have to say in your contract that they are allowed to go after these funds without any fee any administrative fee some states do require that but that's okay you know you do that some states might um require a limited power of returning and then of course everything has to be notarized but that's pretty much it guys with state funds it's going to be a little bit easier on the research because you're going to purchase a list from the state and it's going to have everybody else do money with tax overages you can get the list for free there's also some things that i'm about to come out with my students there's a new way that we can get lists that's a little bit easier um that's going to help you guys out but with state funds you can really make good money while you're waiting on your tax overages to come through because you know when you follow motion and right now do um the court cases have been backed up so while you're waiting on that you can be knocking out state funds if you guys want to strictly learn about state funds i have a mini course on that it's only fifty dollars made it real affordable for you guys it's gonna pretty much give you like 35 out of the 50 states that i recommend because there's a lot of states like north carolina south carolina i don't recommend those they just don't work with finders some of them just aren't friendly but i'll tell you the states you can go after i'll give you all the links i'll give you the documents i'll give you the cost script i'll give you the steps pretty much everything you need that's only 50 if you want that reach out to me but yeah guys that's state funds we went over surplus funds now huge announcement um this is the next step that i've really been waiting on and a partner that reached out to me from my course he's actually getting this thing rolling we're going to be partnering on this there's a way that you guys can invest off the taxi sales okay so we know that there's auctions at these um taxi sales and you can get properties for a low price so what we're gonna start doing is getting these properties at a low price we're going to get a hard money lender and we're going to use the bird method okay you guys know buy rehab refinance repeat so that's what we're going to be doing we're definitely going to be going full speed with that if you guys want to join the community you know just purchase the course reach out to me also i'll go ahead and explain how the partnership works with tax overages as well because i'm trying to really have you guys come on the team and we move forward i've reached out to everybody who got the course i'm doing my follow-ups making sure everybody is moving forward because sometimes you can hit a wall and i don't want you guys to hit a wall especially if you don't the main thing is research a lot of research can you know drain you but if you have it organized the way that i teach you you're going to be able to smash that but the partnership is you're going to show me basically you know what to do you're going to show me how to find the list well how you find the list i already know how to do it how you find the list how you match up the property owner how you skip trace um and then we'll do a mock call and i'll act like i am the previous owner and i'll hit you with rebuttals and if you do good in an interview we can bring you on a team now when you're on the team this is how the partnership works you're going to be finding overages you're going to be contacting them you're going to be getting them to agree to the terms and then i'll step in and i'll handle all the attorney fees all the documents stuff like that you get 40 of the deal i guess 60 i'm teaching you on the way so that you can venture off and do this on your own help you find your own attorneys and then we can do that but we're just going to build a large team we're going to be investing big things coming from money making juggernaut guys so be on the lookout i thank you to all the subscribers that came this year anybody who's watching you haven't subscribed yet please subscribe please check out the instagram page moneymaker juggernaut big things coming this year you guys