subject: How To Make Money With Finders Fees [print this page] Right now is a great time to learn how to make money with finders fees. Lots of unclaimed funds are being created and held by the government, and the rightful owners of these funds need money finders to get their money back for them - before it is lost permanently to the government, in some cases.
To make money with finders fees, the first thing you need to understand is finder fee caps. On state-held funds like old bank accounts, utility deposits, and stock dividends, the state usually imposes a limit on what a finder can charge - in the ballpark of 5-15%. Since these funds are not usually for large amounts, you won't make much money here. If you are going to work these types of funds, make sure you focus on the largest amounts.
However, there is a much better way to make money with finders fees - that's by going after funds that are created outside the state level. These funds won't be subject to finders fee caps until they are passed to the state level, which is generally at least a year after they are created. These funds also won't be advertised on the state's unclaimed funds database website, easily searchable by the general public.
The source of these funds is generally real estate - tax foreclosures, mortgage foreclosures, and sale of property accidentally left out of probate cases. These funds, excitingly, regularly run into the tens of thousands. And because there are no limits on finders fees, you can legally charge 30-50% instead of the measly 5-15% allowed by the state agencies. You can really make money with finders fees this way, to the tune of five figures per transaction.
Since these funds are often lost to the government quickly after being created, you provide a valuable service to the rightful claimants, who are usually happy to get a windfall, even if it is less your 30-50% fee. Best of all? This business can be worked from your home office anywhere in the world, since all aspects are easily done remotely - and with little overhead to start.
by: Maggie Dawson
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