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Is Becoming an Unclaimed Property Recovery Specialist Profitable?

The answer to this question is: It depends on what unclaimed property you are recovering. Some backgrounds are great to work with; others can be difficult for various reasons and offer little benefit to the money seeker.

The most difficult funds to work with are almost all funds that the state has (in the unclaimed funds division/department). These funds are usually things like a forgotten bank account, uncashed refund checks, unpaid stock dividends, etc. They are usually for small amounts (less than $1000). They are regulated by state law, which caps finder fee caps at 5-15%, and worst of all, they are a lot public Most states have a website where anyone can enter their name and see if the state has funds for them.

While this makes it easy for you to find funds, it also makes it easy for your competition to find them. Even worse, when you notify the owner that they are missing money, all they have to do is go to that website and find out where they are themselves, and not pay you anything. Obviously, to be profitable, you have to find a way to be able to keep your sources secret.

Forget about these funds. The best funds for an unclaimed property recovery specialist to work with are surpluses created by real estate. These are funds from tax sales and sheriff’s sales, as well as some probate cases. They are not held at the state level, so through this legal loophole you can charge anywhere from 30 to 50%. And these are big funds. $10,000, $50,000, even more, sometimes. You do the math.

These funds must be worked on urgently, because unlike most state funds, excess real estate escapes, that is, if no one claims it, after a short period of time, the government conserve So not only do you get the benefit of a nice income for yourself, but you can save these owners, most of whom are in dire need of the money, from losing money they didn’t even know they had in the first place.

With more and more foreclosures happening monthly, there has never been a more profitable time to become an unclaimed property recovery specialist. The government holds literally billions of dollars in funds that will be permanently lost without the intervention of a money finder.

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