Re: Would you recommend America's Note Network?

[ Follow Ups ] [ Post Followup ] [ Cash Flow Forum ]

Posted by Rich[FL] on September 17, 2003 at 19:23:24:

In Reply to: Re: Would you recommend America's Note Network? posted by sherman shaw on September 17, 2003 at 18:23:39:

The more I learn about this business, the more I'm learning just how much "good" information is in their course. It really is about finding the notes and they have some good methods of doing so. John's course here talks about many, if not most, of the same sources, though I believe John's list is a bit more comprehensive.

The problem I'm seeing right now is that most "newbies" trying to get involved in this business really don't know what a note is, how it's created, or how it's used. All you have to do is look at some of the questions posted on the ANN web site. The ANN course doesn't go into any great detail about notes except basically to say how and why they're created. That still leaves many people in the dark because they believe there's more.

This really isn't rocket science, but it is a lot like learning a foreign language. You can read it once and understand a few tidbits of info here and there, ask a few questions, read it again and learn a little more, then finally you'll start picking up the relationships between the tidbits of info your reading. Many people think they need to understand the nuts and bolts of EVERYTHING related to this business in order to do it. However, like ANN says, it really is as simple as finding a note (you need to know what one is so when you see it, you'll know it), and then listing it on their web site or passing the info to some other note buyer. The ANN materials have the checklists to follow, and the paperwork. You can literally fill out the paperwork without totally understanding what you're doing; the note buyer will ask any questions they need to clear up any questions. Too many people decide for themselves that there "has to be more to it" and use that as an excuse to fail.

The most important question in this business is: how do I find the notes? ANN goes in to great detail on how to find them, even giving you sample letters to write to get referals. They go so far as to say that searching the courthouse records is NOT the most productive because once you find a note, you have only one note. The key is to find people who can refer notes to you; and they name CPAs, lawyers, RE agents, etc. Guess what? This is exactly what John says in his course here.

Like I said before, the materials in the ANN course, if you can get the "damaged" version for $29, does have everything you really need to get started. And it is fairly complete. What I am really perturbed about, as you mentioned, is their constant calling and bugging someone who buys their materials to spend even more money on this or that, promising that they'll make even more money. I've heard too many stories from people like you who's spent more money for their further support only to be sorely disappointed. People have to learn to do their own research before jumping into something like spending big bucks for something that sounds too easy. I *ALWAYS* walk away when someone says I have to sign up by TODAY or BEFORE I HANG UP because it's nearly always a bad deal for you (I'm not saying scam here; not all are; I just believe they're mostly all bad ideas.)

ANN's basic materials they sell and what's on their web site are not that bad and it's not that expensive as courses go, IF all you want to do is be a broker. Like John says here, there's more money in it if you're a buyer; but, you have to start somewhere. Being a broker is like having a mentor; when you submit a note to a good buyer, they'll usually help to make sure you've got all the bases covered. You'll learn marketing (how to find the notes), how to refer them, you'll learn who the major players are in the field (and not simply list the notes on ANN hoping someone will respond), the paperwork involved and much of the "due diligence" the buyer goes through before he ponys up to the table with money. After that, it's up to you to learn why it's better to be a buyer - what you can do with paper you actually buy for yourself. John's course here is one of the best for that.

Would I report ANN? That's a call you'll have to make for yourself. The basic material is good, like I said; it's just the "other stuff" that is questionable. Remember, I've also lost $750 to ANN's web site promotion; I didn't get a chance to check out their claims completely. That's a price of a RE seminar. Oh well... Personally, I wouldn't "cry wolf"; I'll just "try harder" to make sure I'm not taken in like that again. (Fool me once, shame on you; fool me twice, shame on me!)

Well, I've rambled on long enough. Hope this sheds a little more light on what I think of ANN. Thanks for "listening".

Rich

Follow Ups:


Post a Followup

Name    : 
E-Mail  : 
Subject : 

Comments:

[ Follow Ups ] [ Post Followup ] [ Cash Flow Forum ]

WWWBoard 2.0a and WWWAdmin 2.0a © 1997, All Rights Reserved.
Matt Wright and DBasics Software Company