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

[Gerry Cohen]

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. 

[Adam Adams]

@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.