Anyone bought notes from Scott Carson before

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Anyone bought notes from Scott Carson before

Pari Thiagasundaram
Lender · Fremont, CA · Member since 2014 · 292 posts · 102 votes

Anyone bought NPN from Scott Carson ? He said his notes are for season investors and his mastermind group only at this time. Costs about $8997 to get into it.

Any thoughts on this ?

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Scott Carson
Note Investor · Austin, TX · Member since 2012 · 602 posts · 357 votes
10y

Thanks for all the kind words @Jay Raught and @Beverly Fast Sinclair and @Wayne Snell.

In response to @Bob E. question about shadow inventory (I can't believe I missed this question that long ago), there is a ton of shadow deals out there.

You still have 6 million loans underwater, along with 3-5 million loan modifications coming due that are starting to default with the loan's adjusting. If you add in all the CFD's that are hitting the market (which were originally low value NPN's that were foreclosed on or DIL'd back to the banks) and you've got a tremendous amount of deals out there.

One thing I don't hear too many people talking about is the large rate of commercial defaults starting to happen.  We've been keeping track of this for a while.  

Another source of deals would be the "trickle down" inventory from the large companies buying the Fannie Mae trades.  Yes, the funds have their bread and butter assets that they want, but there will still be around 20% or more of those trades that the fund doesn't want that they will move after they figure out exactly what they have.

So the long answer to a short question is Yes, I do believe and see shadow inventory.  

@Alin Toncz give me a call to discuss.  

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  • Scott Carson
    Note Investor · Austin, TX · Member since 2012 · 602 posts · 357 votes
    10y

    Pari,

    There is a whole lot more to that instead of just that!  I've got a ton of collections and there is a lot of training that we spend time on.  I get requests all the time from people wanting to buy notes who don't have their servicer, entities etc set up.  I also suggested you give me a call as well.  But I'm willing to bet that a ton of my Mastermind students who are closing deals will vouch that my mastermind is worth every penny!

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    @Scott Carson just curious do you think we are coming to an end of the plethora of NPN or do you think there is a big shadow inventory out there?

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    0Reply
  • Jay Raught
    Investor · Newark, DE · Member since 2015 · 248 posts · 178 votes
    10y

    I had a conversation with my friend who ran into 2 people at Noteworthy east who are now in his mastermind group and they now are 6 months ahead of us. I am getting in on this as soon as I can. What Scott is going to do for you is priceless. I am going for it...are you???

    #VNBFD

    1Reply
  • Bob E.
    Queen Creek, AZ · Member since 2014 · 2k+ posts · 1k+ votes
    10y

    I am interested on @Scott Carson take on if there is a shadow inventory or not.  

    Too, I will say that while I have not purchased his mentor program I am impressed with his content.   I consistently run across students of his that are doing deals and he has some creative methods of directly reaching out to note sellers.

    1Reply
  • Alin Toncz
    Contractor · Columbia, TN · Member since 2015 · 52 posts · 24 votes
    10y

    Note buying is a very interested process with potential healthy returns, if you have the right connections and ask the right questions. i checked out Scott's webpage and the price he charges for seminars is a bit out of my league. I'm sure it is worth it but with my limited funds, can't touch it. I wouldn't mind learning about it from someone who can show me the ropes as I would like to use it as a vehicle for a diversification of my portfolio. 

    1Reply
  • Wayne SnellPro Member
    Londonderry NH & Miami, FL · Member since 2014 · 174 posts · 238 votes
    10y

    All, I am a Scott Carson Mastermind student. I am not getting paid for this post, nor has Scott asked me to do so (he doesn't even know I elected to write it).

    I can personally vouch for his training and mentoring. I have spent a lot of money with other "gurus" but never had the confidence to pull the trigger. I was skeptical as I am sure all of you are. I learned more about the notes business in 3 days simply by taking his note buying for dummies class than all of the other education I paid for combined, and that was very inexpensive. Only after I had begun purchasing notes (I do NPN 1sts) and getting them worked out (e.g., we made money) did I elect to accelerate the business and join his mastermind. Is it for everyone? Probably not. But I for one have been able to get my business to thrive due to Scott's mentoring. And whenever I need help he is either a phone call or text away. There was not a single other mentor I spent money with who does that. I wish you all the best!

    4Reply
  • Beverly Fast Sinclair
    Investor · Carmel, IN · Member since 2015 · 60 posts · 13 votes
    10y

    I also took his note buying class (was around $600) and learned so much!  He lays everything out clearly and gives step by step instructions.  He knows a lot, and is very open to answering questions.  I think he does a great job!

    3Reply
  • Scott Carson
    Note Investor · Austin, TX · Member since 2012 · 602 posts · 357 votes
    10y

    Thanks for all the kind words @Jay Raught and @Beverly Fast Sinclair and @Wayne Snell.

    In response to @Bob E. question about shadow inventory (I can't believe I missed this question that long ago), there is a ton of shadow deals out there.

    You still have 6 million loans underwater, along with 3-5 million loan modifications coming due that are starting to default with the loan's adjusting. If you add in all the CFD's that are hitting the market (which were originally low value NPN's that were foreclosed on or DIL'd back to the banks) and you've got a tremendous amount of deals out there.

    One thing I don't hear too many people talking about is the large rate of commercial defaults starting to happen.  We've been keeping track of this for a while.  

    Another source of deals would be the "trickle down" inventory from the large companies buying the Fannie Mae trades.  Yes, the funds have their bread and butter assets that they want, but there will still be around 20% or more of those trades that the fund doesn't want that they will move after they figure out exactly what they have.

    So the long answer to a short question is Yes, I do believe and see shadow inventory.  

    @Alin Toncz give me a call to discuss.  

    4Reply
  • Linda HastingsPro Member
    Rental Property Investor · Stockdale, TX · Member since 2017 · 285 posts · 202 votes
    7y

    Anyone reading this thread may also want to read this one:

    https://www.biggerpockets.com/...

    1Reply
  • Christopher Winkler
    Specialist · Dallas, TX · Member since 2014 · 900 posts · 392 votes
    7y

    His education is good, the problem is when you "invest" with him. Its a huge conflict of interest to buy notes from your note guru. See what happened to others who made that mistake here; https://www.biggerpockets.com/...

    0Reply
  • Erin Lamb
    Member since 2019 · 15 posts · 10 votes
    6y

    Christopher is right.

    Also, 18 lawsuits filed, 11 of them in 2019 alone!

    InverseAssetsJVPartnerships

    0Reply
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