All Forum Posts by: Gerry Cohen

Gerry here, who do you know? I am seeking an introduction and an opportunity to build my network of HMLs open to working with newbie fix and flip borrowers. I am an accredited investor with a strong credit score. G

Hey Evan, thank you I appreciate your comments. G

Gerry here...what are you hearing about Jake Leicht -Flip Secrets? Any comments about their network of lenders, realtors, and contractors? Is anyone participating in their mentoring program? G

What sites are you recommending for pre foreclosure and foreclosure lists now? Which FC sites would you recommend for a real estate investors in western US region? What about value for spend? What about Listsource, Propstream, Propelio, Property radar or Foreclosure.com? 

Hi Bob, Thank you for the heads up. Best regards, Gerry 

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. 

I am interested in developing relationships in greater Stockton CA area. Buy/Hold 2-25 unit multifamily investor seeking referrals to solid property management firm. 

Does anyone have further updates on Realty Shares situation? 

Hey Justin 

Adam is the man! I recommend following his strategy! The current note owner is probably hestitant to start foreclosure due to costs and borrower may start delay tactics to secure any equity above UPB and costs.

Hi Mark, I encourage you consider distressed mortgage note buying opportunities. Finding and flipping 1-4 unit properties is very competitive in today's market, while buying non performing mortgage notes gives you an opportunity to "buy right" insuring double digit returns and multiple exit strategies. Good luck in your evaluations!