It's About Time: Russ Dalbey Gets Sued By Govt

I don't get what the problem is. Does this mean my wife can sue Jenny Craig or weight watchers because their program didn't get the results she saw on TV?

James Hiddle

Real Estate Investor · Altus, Oklahoma

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Jun 20 '11, 10:54 AM

Originally posted by John Holme

I don't get what the problem is. Does this mean my wife can sue Jenny Craig or weight watchers because their program didn't get the results she saw on TV?

Did you even read the article on what he did? He was fleecing money from people making false promises and providing a bogus coaching program that did nothing but drain peoples bank accounts of tens of thousands of dollars.

On top of that his program was very limited on how to buy or broker notes. The fact he said all you had to do was find,list and forget was a bogus claim and that is not how you do notes.

Bryan A.

Real Estate Investor · Charlotte, North Carolina

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Jun 20 '11, 11:09 AM

I don't get what the problem is. Does this mean my wife can sue Jenny Craig or weight watchers because their program didn't get the results she saw on TV?

john, i see your point to some extent..people should be responsible for themselves up to a certain point...either way though, i wouldn't let my wife see that comment lol :)

James Vermillion

Rehabber · Lexington, Kentucky

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Jun 20 '11, 11:24 AM

If Jenny Craig was based on bogus science, lies, and did not at all provide the services they advertise then I would bet they would get shut down. It is not just real estate businesses that are investigated and sued.

Marc Faulkner

Note Investor · Kalamazoo, Michigan

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Nov 17 '11, 10:30 AM

I have talked to a lot of "note finders" over the years and have talked to a couple that actually get it and have the skills necessary to make it in the note business.

With that said, there is way more to making money with note than just, "finding them and listing them." Some students have over $30k into these programs and, have yet to do a deal! It is sad that they don't tell you strong people and negotiation skills are required to make it in the business and, that they are not in the business of teaching these qualities. A number of these guys have told me there is a program where they can get the money they have "invested" back, if they can prove they have closed 3 deals. Like that is ever going to happen.....

Rich Weese

Real Estate Investor · sioux falls, South Dakota

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Nov 17 '11, 02:44 PM

This was the re-birth of an old thread. Don't know the guy, but there are systems that work. Here is one for free that I used as many as 35 years ago.

1.Find notes (MANY different methods) and buy at a discount or, better yet take an option to purchase the note. Get a good inventory in your potential basket.

2. Go find a property for sale, preferrably free and clear where owner is considering financing.

3. Offer little cash and some of your diverse notes which actually gives seller better flexibility in case he needs to generate some emergency cash and won't have to sell all notes.

4. You acquired the house for discounted notes at full value.You built in equity for free.

I used this method to great benefit and some of you have read this entire chapter before.It can be done. Rich