Hello to All!

I'm fairly new to this forum, but I have been selling Real Estate for several years now. Unfortunately, San Diego is a "tough nut" right now(like so many places). Anyway, I get this booklet in the mail...."Winning in the Cash Flow Business".

It is by Russ Dalby. 70 pages! Took me an hour just to read the advertising for it! It seems viable, but before I invest my hard-earned money into it, I wondered if this is something anyone else here has had experience with?

It appears that you don't NEED to have a real estate license to do this, but since I have one--I wondered, do I need to run this business through my Broker?

It is offering Sellers who have provided financing to their buyers, the opportunity to sell their note to an investor. My job would be to find/link up the interested seller with an interested investor. I would then get paid a fee for my services, if and when the deal has closed.

Is anyone here involved with this program, and if so--your opinion PLEASE! Thanks so much!

By the way, there is no investment involved in this for the person (Agent) making the introduction. Sounds like they just do the research to find these "notes" and then post them on a web-site where "ready and able" Investors frequent each day, looking for notes to buy.

I'm wondering if anyone has an experience with this program/company would be willing to share their experience? Thanks!

I got an offer from them once to get their "starter" package for something like 75%. It ended up being $15 or $20, so I decided to take a risk on it. My thinking being that as an investor, it would be a good idea ot understand the business of private paper. My hope was that I might be able to sell some of my properties for more money with private funding (that's another story).

The materials I received were little more than a giant infomercial to buy more products and services from them. In addition, I apparently gave them my phone number when I registered. They called me 2-3 times per day to "follow-up" and try to try talk me into buying $1000s in more stuff. The hard-sell was absolutely brutal. I vowed never to do business with the company.

Yipes Mike! What a can of worms.....I should have known, it sounded too good to be true! I hate misleading programs like that. Thanks so much for your input!

It wasn't too bad. It only lasted a year or so. It finally quit when I changed cell phone providers and didn't keep my number!

The experience did teach me a valuable lesson, however. It taught me how not to run a marketing campaign. My current foreclosure newsletter and information products each carry information other products, but I have never beaten people over the head with blatant pushes for more business.

Who knows? Maybe they make a lot more money than I do. But I don't think I could run a business like that.

Yeah, I know what you mean! That's not my style either!

-Laurie

Wow! I made the mistake of purchasing this! Figured that it had a 30 day money back guarantee, so why not take a look at it.

I just got the package sent via fed-ex, and several things are missing from it(not surprising), so I called into their customer service, and the first thing they did was to turn me over to a barracuda salesguy who tried to sell me a mentoring program for $10,000!!! YIPES!

I told him that I needed to look over the info in the package, before I decide if I'm even going to do this program. I also want to check with my Broker to see if I need to run any of this through him due to liability.

This guy would ask me a question, and when I began to answer him, he would begin talking OVER me! I hate that! I told him I was not even sure if I was gonna keep the program(colorful language!), and needed time to examine everything.

Long story short, we began arguing over the fact that I believe I need to consult with my Broker before I begin this, he adamently stated that I do not. "If you buy or sell your own home, do you need to run that thru your Broker?"

I said of course! Since I am a Licensed real estate agent, I have an unfair advantage over a typical Buyer or Seller, and could use that to structure a deal to my own advantage. If sued, it would involve his Brokers license and his E&O insurance, so YES I would need to involve him.

This guy said that doesn't have anything to do with what I will be doing. I said "You're the one who brought that up!"

Then----It just got UGLY from there!!!!

He called me "Sweetie", I said "have a good day"(but really did not mean it!), and hung up. I will review the program, but not sure I can work with people who are as pushy as these folks appear to be!

To anyone else considering this, BUYER BEWARE!

If you search on the internet there is a site that tells the truth about notes.You really don't make much money at all.I would post the site but i read it months ago and no longer have the link.

Thanks Super Realtor! I will try to look that up. I'm feeling a bit "suckered" right now...

Anyway, your feedback is helpful! Thanks again! -Laurie

Many of those programs are rip offs. Here is a link you can check all of them out.
http://www.infomercialratings.com/business_opportunities.htm
scroll down to the program you want to look into.
The PropertyPatrol
http://www.jamiltdco.com/propertypatrol/

That is so helpful, thanks Property Patrol! They are giving me a hassle as I am trying to return the program. I called them yeaterday, they said I needed a Return Authorization number, which the guy then refused to give me! They are sending me one more piece which was missing from the program when I recived it.

So now I have to wait to recieve that piece, and then call back for an authorization! So much for the lost art of Customer Service! ;(

I too almost got suckered with Russ Dalbey's program, and the mentoring fee of $5k! I sent the program back and had calls galore asking me how did I like it, when I already told them I returned it. I found another program very similar and a less informercial-like, that actually teaches you what it is...for a lot less than what Dalbey is scamming for! Basically you are a note finder-liason..not very hard, very easy to do. In fact I trust this company more than Dalbey any day of the week!

If one studies the private note business, you will find that it is a multi-billion dollar business...So some body is making money! However, the Russ Dabley program is a marketing program purely. There are other ways to learn about the note industry and it is not as simple as "find them, post them, and make money" as Russ tells us.

I'll tell you who makes money in the note business, the investor holding the note. I know that because I'm one of them. But I don't buy notes (the yields are too low) I create them by selling my own properties. If I structure it right the buyers down payment covers my investment, so I have a ROI of infinity.

heh i forgot that creating notes is the same as seller financing(lease options, wraps, contract for deeds, equity share).

im learning to create notes via sub2 and securing the residential real estate through an equity holding title trust. we can create a higher yield by leasing the trust on a commercial like triple net lease(NNN), up front profits from the tenant/buyer(typically 5% of the purchase price), and any future appreciation.

i agree with realdealer about having an ROI of infinity when the buyer covers the up front money/downpayment.