Is the cash flow notes infomercial a scam?
Note Brokering: Harder Than it Sounds By Jane Bryant Quinn Thursday, June 18, 1998 NEW YORK – If you catch get-rich shows on television, you may have seen “Millionaires on the Road.” It tells you how easy it is to make money in a business known as “discounted notes.” Just attend a free workshop, a TV show croons. There, a pitchman will plug a five-day, $5,995 course at the Diversified Cash Flow Institute (DCFI), with dapper money guru Larry Pino. You’re told you’ll learn “three easy steps” that will “change your life.” That sounded just fine to my associate, Temma Ehrenfeld, who – in pursuit of a story – was willing to risk becoming a millionaire. She attended a course in Austin, Tex., in March 1997. We waited 15 months, to give Pino’s students time to put their lessons to work. Then we asked them how they were doing. Not well, as far as we could learn. In the cash-flow or discounted note business, you buy and sell streams of future payments due. Here’s an example of what that means. S
While writing this review of Russ Dalbey’s program Winning in the Cash Flow Business, I realize this is opening a big can of worms. It is based upon a legitimate businesses that can be run successfully if you know what you are doing. It claims to give you all the information you need at an outrageous price, BUT the materials are fluff, hype – not enough to get you started. That’s what makes it a scam. It is a ripoff if you are expecting what was promised. Is it legal and ethical? Yes, the cash flow note business is done all the time mostly by banks, investment firms, and real estate professionals, but the money is mostly made by those doing the investing in the notes and not by flipping them over to the investors. Sources: http://www.information-entertainment.com/RussDalbey.
