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FIB - Scams 101 - Ye Olde Archives
Posted By: Larry Foster <blackstonecap@yahoo.com> In Response To: Re: Russ Dalbey's Cash Flow Business (Chuck Huckaby)
Saturday, 15 January 2005, at 6:34 p.m.
I am always amazed that people here who to protect their fellow man from scams and ripoffs.Here's Chuck, who I'm sure is a very nice guy who is telling you to be careful, even though he admits he knows nothing about this course. The course is what, $40. How badly can you get ripped off? And I'll bet it comes with a guarantee.
I AM NOT in the note business ,however, I have this course as well as several other, much more expensive courses while investigating the business. This is a pretty good course if you're a newbie.
Lots of good resources and marketing info.
BE WARNED!!!! This is a front end product and you will be solicited for some expensive high-end stuff. Here is the caveat. If you can't say no to the sales pitch follow-up,, don't buy the course.
Chuck is right that the paper source also offers a lot.
I can tell you the the note business is tough. There are people who make money but very few people make the kind of money that's promoted.
In my case, I looked locally to see how many Owner carry back notes were available and found very few. I decided that the effort vs. return wasn't worth it FOR ME. Dalby will give you the ability to find resources nationwide.
Most important thing that I can see to be successful is the ability to generate leads through your marketing.
Additionally, I believe that the supply of this kind of paper has been drastically reduced by the easy money that has been available for the last 3-5 years. Since owner notes tend to have less attractive terms, many of these borrowers would have refinaced out and if they didn't, their credit may have been so bad that a note buyer wouldn't have them either.
> I have no knowledge of this individual program, BUT I'd say be VERY
> CAREFUL about any such course. It may be perfectly reputable. I just don't
> know. But what I DO know is this...
> Your should go to Paper Source Online http://papersourceonline.com and get
> Bill's free course before investing a cent.
> This isn't an affilite link... I consider Bill a friend and painfully
> honest.
> I'll bet his course DISCOURAGES more people than not because he tells the
> truth about the cash flow business.
> Usually these folks who are selling CASH FLOW COURSES charge you an arm
> and a leg for information not much better than the ecourse at Paper Source
> Online! Then they make you think that only THEY buy the cash flows... of
> course this means
> 1) They're getting your money for the course(s)
> 2) They're getting money by cutting themselves in on the deals you find
> --- meaning you're risking all the ad dollars and getting less than you
> should as a broker for cash flows.
> 3) They also usually limit your brokerage options to their specialty, in
> essence making you their "captive"... In reality there are many
> big investors buying mortgages, divorce liens, lottery winnings and
> inheritances that must go through probate.
> You will be working your tail off doing this business, so you need to give
> yourself the most money possible.
> I'd say to start at Bill's site. I made a mistake buying a course like
> this years ago.
> I learned as much or more spending $20 at this site!
> Best wishes in cash flow... it's a real business if you can get into it
> without the crooks eating up all your start up capital!
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