America Note Network

America Note Network

January 31, 2006 - Business Reply - From: Email User

RE: Russ Dalbey

http://www.complaints.com/directory/2005/march/28/23.htm

my responses are below:

I got talked into the America Note Network program through a late night infomercial on TV. After making an impulse purchase I did some research on the internet about this program and discovered that previous purchasers had bad experiences with not being able to sell their notes to anyone and were required to keep spending more and more money on additional programs and services with America Note Network to help them be successful. One of the customers had spent $5000.00 on additional products and services before giving up on the product. Our goal to help every last customer succeed and offer every thing we can to see this happen. We offer additional service to customers who would like additional assistance. However the majority of our testimonials come from clients who have only purchased the course and have been extremely successful. After finding out these problems with the service I blocked the credit card I had used to purchase the America Note Network plan. I then contacted America Note Network to see if I could cancel the program, they told me the book had already gone out. This was interesting because they told me at the time of order that it would take 3 weeks to ship and there was an extra fee you had to pay to get it out sooner. Then after a short while longer of talking with her she said I see your credit card was declined and after I wouldn’t provide new credit card information she then double checked and now she could stop the shipment. Our policy is and has always been to give a 90 money back guarantee automatically, no questions asked. This statement is false. She told me the crux of the business was to find "CONTRACT" purchases of homes in the court house. Then you send offers to the owner of the contract that you want to work as a broker to sell their contract (which the trick is to negotiate a less amount then they would get if they kept the contract themselves). Then you JACK UP the price and post this contract on their website for "supposed investors" to purchase that contract. This is not how our program works. It sounds as if our program has been mixed up with another, and this statement is also false. Our program is based on finding everyday real-estate notes, and help the note holder sell his/her unwanted note. Once you find a note it is listed on our network where hundreds of investors may purchase the note. The problem with this business as I see it is that "CONTRACT" sales usually only happen because the buyers "don’t have good credit" and cannot get a mortgage or purchase the house otherwise, so, to make the house sale happen, the current owner carries the mortgage balance and takes payments from the new buyer. Most note transactions listed on our site must have good credit in order to be attractive investments to our investors. If the investment is not favorable, chances are the note will not be sold. This statement is also false. Do you see the problem here? People that cannot get a mortgage in the first place are the reason why these "CONTRACT" sales are basically worthless and there aren't all kinds of investors out there to purchase them. Unless you get the "CONTRACT" holder to sell you the note for a REALLY GOOD PRICE then it is not worth it because they are bad credit people and you might end up having to repossess the house which I understand is rather costly. This is why reputable mortgage companies will not finance these buyers so why should other investors? Private investors are willing to take on higher risk for a higher reward. However, investors are more likely to stay away from a poorly scored note (i.e poor credit scores) if the risk is too high. Just like with any business opportunity, the risk vs reward is determined by individual investors. Note investors give so many people a second chance when they have difficulty obtaining a loan, and in today's society it has become more common due to increasing credit card debt and bankruptcy. The unemployment rate is still very high. We pride ourselves in helping others achieve their personal financial success. I heard many times, if it costs money to begin a program then it's usually a scam. Also, it is good advice to quit looking for a magic bean that will make you rich, that's what these scams take advantage of, your desire for a magic bean. My complaint is that I was deceived, and if I hadn't heard other peoples complaints with this product I might have given alot of money to this company. The note business is not for everyone, it takes time to learn the industry as well as hard work. Educational materials will cost money. All of our policies and program details are written very clearly in our material. I look forward to hearing from you.

Teresa McLain

Web Marketing Manager

Dalbey Wealth Institute

Email User

303-577-6135

March 28, 2005 - Consumer Message:

I got talked into the America Note Network program through a late night infomercial on tv. After making an impulse purchase I did some research on the internet about this program and discovered that previous purchasers had bad experiences with not being able to sell their notes to anyone and were required to keep spending more and more money on additional programs and services with America Note Network to help them be successful. One of the customers had spent $5000.00 on additional products and services before giving up on the product. After finding out these problems with the service I blocked the credit card I had used to purchase the America Note Network plan. I then contacted America Note Network to see if I could cancel the program, they told me the book had already gone out. This was interesting because they told me at the time of order that it would take 3 weeks to ship and there was an extra fee you had to pay to get it out sooner. Then after a short while longer of talking with her she said I see your credit card was declined and after I wouldn’t provide new credit card information she then double checked and now she could stop the shipment. She told me the crux of the business was to find "CONTRACT" purchases of homes in the court house. Then you send offers to the owner of the contract that you want to work as a broker to sell their contract (which the trick is to negotiate a less amount then they would get if they kept the contract themselves). Then you JACK UP the price and post this contract on their website for "supposed investors" to purchase that contract. The problem with this business as I see it is that "CONTRACT" sales usually only happen because the buyers "don’t have good credit" and cannot get a mortgage or purchase the house otherwise, so, to make the house sale happen, the current owner carries the mortgage balance and takes payments from the new buyer. Do you see the problem here? People that cannot get a mortgage in the first place are the reason why these "CONTRACT" sales are basically worthless and there aren't all kinds of investors out there to purchase them. Unless you get the "CONTRACT" holder to sell you the note for a REALLY GOOD PRICE then it is not worth it because they are bad credit people and you might end up having to repossess the house which I understand is rather costly. This is why reputable mortgage companies will not finance these buyers so why should other investors? I heard many times, if it costs money to begin a program then it's usually a scam. Also, it is good advice to quit looking for a magic bean that will make you rich, thats what these scams take advantage of, your desire for a magic bean. My complaint is that I was decieved, and if I hadn't heard other peoples complaints with this product I might have given alot of money to this company. Default U

Click this link to e-mail the above consumer: //

Comment On This

I also bought the program to make money finding and selling notes. I paid $3,987 to get in the premium program. I sent out thousands of postcards and visited most CPA's, title companies and escrow companies in my town. The gas and the postage was expensive not to even mentioned the large amount of unpaid hours I put in. I got 4 people wanting to sell. I posted them and only got two offers. Not anywhere near what the people wanted. Needless to say I have over $6,000 invested with no return. It's not anywhere as lucrative as they advertise. The testamonials you see are in the top one percent of the people who try it.