DO NOT INVEST with SCOTT CARSON (We Close Notes) or Inverse Asset

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DO NOT INVEST with SCOTT CARSON (We Close Notes) or Inverse Asset

Gerry Cohen
Investor · Sanford, NC · Member since 2016 · 19 posts · 96 votes

I have been reluctant to broadcast this information to the note investment community, hoping not to "hang out my dirty laundry" with colleagues or the note investment community. However, it is time to speak out and address this reckless and unethical behavior of SCOTT CARSON! It must be STOPPED!

After attending SCOTT CARSON's (We Close Notes) seminars, Master Mind programs, and listening to his podcasts, I decided to invest as a passive investor (joint venture partner) with SCOTT CARSON (Inverse Asset Fund) to acquire a number of defaulted real estate notes. SCOTT CARSON and (Inverse Asset Fund) acting as the lead investment manager to secure the notes and properly disposition. Not so dissimilar from most note joint ventures agreements.

Once funds transferred the joint venture immediately transformed into a bad movie! SCOTT CARSON never followed up, never shared information on the status of the investment (notes) nor paid out interest income per the agreement. After more than 24 months, following the terms of the agreement I gave SCOTT CARSON (Inverse Asset Fund) the appropriate notice to dissolve the joint venture, return principal and interest owed to me. I am still waiting for proper disposition and return of principal.

Naively, I thought SCOTT CARSON (Inverse Asset Fund) would do the "right thing" and meet his obligation if treated like a professional. No such luck!

After several attempts to address this obligation directly through legal counsel, I instructed my attorney to secure a judgment against SCOTT CARSON and Inverse Asset Fund, If you take the time to research Travis County, Texas county records you should see my approved judgement as well as other judgments awarded to other passive investors. 

This is not how the "note investment business" works! In closing DO NOT INVEST with SCOTT CARSON (We Close Notes) and Inverse Asset Fund. 

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Adam Adams
Investor · Small Town, TX · Member since 2016 · 110 posts · 252 votes
7y

@Jay Hinrichs A lot of us learned from Scott. I can say that I probably wouldn't have started buying notes without his class. A few months into it, I started hearing the stories like Gerry's. We've revamped our business and did away with a lot of the things he taught us.

@Patrick Desjardins - There are a lot of similar stories. Most of them from his students. If you run a background check, you'll see some nasty stuff. And some of the guys he promotes are just as bad. I invested with one of his buddies. After I gave him my money, I learned that he was a disbarred attorney. He was suspended for mishandling client funds and disbarred for practicing while suspended. I was lucky and got my money back, but I know several folks that are in a bind because of him and will probably lose their investment.

Since I got involved with those two fellows, I always tell everyone who writes me or calls me to do a background check before giving anyone any money. There are a lot of services online that will do it for $10-$40. It's a cash business which means no one is screening these folks like they should. If it were a commercial deal with leverage involved, not one bank would give them a loan. Spend $10 on due diligence before giving someone $10,000.

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  • Dana Yobst
    Investor · Member since 2019 · 28 posts · 9 votes
    2y
    Quote from @Chris Seveney:

    @Dana Yobst

    No investment will ever guarantee a return - if they do then run for the hills.


     Yes, there is a difference from actually your investing your money and failing....and not investing it at all!

    0Reply
  • Zork Mork
    Member since 2026 · 2 posts · 0 votes
    7mo

    Has anybody sued him or collected on his assets? I'm looking into dealing with this guy to prevent him from harming more people in the future.

    0Reply
    • Dana Yobst
      Investor · Member since 2019 · 28 posts · 9 votes
      7mo
      Quote from @Zork Mork:

      Has anybody sued him or collected on his assets? I'm looking into dealing with this guy to prevent him from harming more people in the future.


       Yes! A ton of us have sued him And been awarded judgements but we can’t retrieve any money.  Any tried to seize homes and it costs me too much money to deliver nothing.  I wrote some News outlets too and got some traction with government watchdogs but then the administration changes all the focuses to immigration.  

      I’d be happy to share what I more And see you can build on it.  

      0Reply
    • Chris SeveneyBusiness Member
      Moderator
      Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
      7mo
      Quote from @Zork Mork:

      Has anybody sued him or collected on his assets? I'm looking into dealing with this guy to prevent him from harming more people in the future.


       Look up travis county and his name. There are around 20 judgments against him. One person recently was selling the judgment against him on an online note platform, I think it had a $300k + balance. 

      When you say "dealing with this guy", what are you referring too? What is it that you will do that others will not do?

      For what its worth, I do not believe he has a big following anymore compared to what he had back in the day. His youtube channel gets like 50 views a video. He does not attend conferences or interacts with those in the space because anyone who tries to uphold a good reputation would not go within a mile of this person.

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  • Zork Mork
    Member since 2026 · 2 posts · 0 votes
    7mo

    It would be potentially possible to foreclose on his properties which I'm seeing might take like 18 months and might be a pain but it could be worth it if you are owed money.

    I saw the judgment lien on PaperStac so I was doing research on the history of this. I'd be happy to forgo buying the note to see if I can help out his victims.

    Once you have a judgment, courts allow broad discovery. Typical requests include interrogatories (written questions), requests for production (bank statements, tax returns), and subpoenas to banks.

    You can require him to list every bank account he control, all payment processors that he's used in the last 3 years, and produce all bank statements. If he failed to respond, it can lead to contempt of court.

    Tax returns often reveal bank accounts used, business entities, merchant processors, and income sources. Courts frequently allow creditors to request them.

    It looks like it's possible to foreclose on the several properties that he still owns and if he has other assets, you can repossess them once you force him to disclose everything that he owns.

    Has anybody tried to do this yet?  It's possible that he might lie in court or might not have any cash but if he still has real estate then you can hire attorneys to foreclose on the real estate and they can just take a percentage.

    0Reply
    • Chris SeveneyBusiness Member
      Moderator
      Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
      7mo
      Quote from @Zork Mork:

      It would be potentially possible to foreclose on his properties which I'm seeing might take like 18 months and might be a pain but it could be worth it if you are owed money.

      I saw the judgment lien on PaperStac so I was doing research on the history of this. I'd be happy to forgo buying the note to see if I can help out his victims.

      Once you have a judgment, courts allow broad discovery. Typical requests include interrogatories (written questions), requests for production (bank statements, tax returns), and subpoenas to banks.

      You can require him to list every bank account he control, all payment processors that he's used in the last 3 years, and produce all bank statements. If he failed to respond, it can lead to contempt of court.

      Tax returns often reveal bank accounts used, business entities, merchant processors, and income sources. Courts frequently allow creditors to request them.

      It looks like it's possible to foreclose on the several properties that he still owns and if he has other assets, you can repossess them once you force him to disclose everything that he owns.

      Has anybody tried to do this yet?  It's possible that he might lie in court or might not have any cash but if he still has real estate then you can hire attorneys to foreclose onmo the real estate and they can just take a percentage.

      most of those assets are contract for deeds where there are borrowers on them, and the ones of any value are trashed and owed huge taxes. I was assisting some people a few years ago on trying to get resolution and most of it was a waste of time. I think most people have written it off by now and bringing it back up is just opening up old wounds.
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    • Don KonipolBusiness Member
      Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
      7mo
      Quote from @Chris Seveney:
      Quote from @Zork Mork:

      It would be potentially possible to foreclose on his properties which I'm seeing might take like 18 months and might be a pain but it could be worth it if you are owed money.

      I saw the judgment lien on PaperStac so I was doing research on the history of this. I'd be happy to forgo buying the note to see if I can help out his victims.

      Once you have a judgment, courts allow broad discovery. Typical requests include interrogatories (written questions), requests for production (bank statements, tax returns), and subpoenas to banks.

      You can require him to list every bank account he control, all payment processors that he's used in the last 3 years, and produce all bank statements. If he failed to respond, it can lead to contempt of court.

      Tax returns often reveal bank accounts used, business entities, merchant processors, and income sources. Courts frequently allow creditors to request them.

      It looks like it's possible to foreclose on the several properties that he still owns and if he has other assets, you can repossess them once you force him to disclose everything that he owns.

      Has anybody tried to do this yet?  It's possible that he might lie in court or might not have any cash but if he still has real estate then you can hire attorneys to foreclose onmo the real estate and they can just take a percentage.

      most of those assets are contract for deeds where there are borrowers on them, and the ones of any value are trashed and owed huge taxes. I was assisting some people a few years ago on trying to get resolution and most of it was a waste of time. I think most people have written it off by now and bringing it back up is just opening up old wounds.
      There are attorney groups that specialize in purchasing hard to collect debts, judgements, etc (at large discounts); they could do it economically since they are attorneys specializing in debt collection and do all the legal work in house.  If a judgement becomes available to the public for purchase that means these groups have passed on purchasing the debt.  Either because they’ve determined the chance of collection is almost or nil; or because the holder turned down their offer and is hoping for a higher bid.  But these groups have the lowest cost structure, so can afford to bid the highest.  

      When my long term attorney (and friend) retired from active practice, he decided to purchase these type debts/judgements and use his status as an attorney to pursue collection.  He invited me to invest with him, but quite frankly the risk adjusted ROI was way too low. 
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