All Forum Posts by: Todd LaPierre

Originally posted by @Matthew Hell:

Has Scott been paying his JV's back. Any news?

 NO!

I also have the same story of a disappointing JV deal with Scott. Read my story here.

https://www.biggerpockets.com/forums/70/topics/757247-another-victim-of-scott-carson-we-close-notes-and-inverse-assets

Like Gerry's earlier post, I was very reluctant to share my story.  But now the time has come for me to share like Gerry so that no one else gets themselves in a bad deal with Scott or anyone else.  I specifically waited 2 months from Gerry's post and started a new feed because I want this to be fresh and I want everyone to read it again to hammer home the message about investing with Scott Carson, We Close Notes, or Inverse Asset Fund

My story is very similar to others who have posted and shared. I followed Scott for a very long time. I did his online workshops, notecamps, joined his Note Crew, and etc. I flew to DME in California where I met him in person. I believed him to be a genuine guy. I loved his message of integrity and to always take care of your partners before you took care of yourself. I really thought this was the JV opportunity I was looking for. A professional who knew what they were doing and would keep my investment safe with good returns and also give me an opportunity to learn.

After I wired the money the true story began. It now has almost been 24 months and I have yet to receive any of my funds or stated returns back. I have had to hire an attorney to take it to the next level. In those near 24 months, I have watched Scott continue to take in money from his coaching, masterminds, and online workshops. He has continued to take some of the longest and most luxurious vacations imaginable while my inquires as to where our JV deals are headed go unanswered and ignored. I terminated the deal per the agreement and still have not received a dime. On a few occasions, I did get responses from Scott I feel they were disingenuous and a delay tactic. I have deals come across my desk every day where I can be putting this money to work but instead, I have had to invest more money in the dead deal by hiring an attorney.

I am most disappointed in Scott because I believed in him.  I promoted local events in Orlando for him to my local investor community.  I invited my friends and family to come see him and listen to his podcasts.  I referred everyone to Scott if they wanted more note training.  I've had drinks and socialized with him.  Every conversation started with "we are cashing you out next month".  Then it was next month and next month and any day now.  All this time I continued telling myself surely this is not really happening.  Surely he would not take advantage of me of all people.  Then I went to the Travis county courts and started doing a public records search.  Go look for yourself.  You will find me and many other people with similar stories.

I wouold not recommend anyone invest with Scott or any of his entities.  If you already have I would recommend you start working on getting your money back now because it will be a long journey.  Before you invest with anyone do your due diligence on the partner and the underlying security of your funds.  Don't do it just because they seem to be a nice guy with charisma!

I also ran across this recently. Is the basic idea that my LLC as the leader in the transaction would be on all the documents and vendor agreements. My partner would simply be in passively waiting to cash out at the end of the transaction. The specifics of the JV partnership agreement (created by a lawyer) is held private between the partnering parties?

go to your local REIA and tell everyone about the deal. finding a partner for this deal should not be a problem if your numbers are solid. you may even partner with an experienced flipper and get a valuable education at the same time.

I would recommend reading the following in order.  I have read them all and in the wrong order.

1a.  Paper Profits, Joshua Andrews

1b.  Note Investing Made Easier, Martin Saenz

2.  Performance Anxiety, Gordon Moss

3.  Invest in debt, Jimmy Napier