Re: Michael’s Course vs. American Cash Flow Assoc. - Posted by John Behle
Posted by John Behle on September 02, 2005 at 15:14:16:
Looks like I get this question. Michael may be too humble and tactful to sing the praises of his course and hesitant to compare it with others. Maybe he could post a table of contents and some explanation of some of the contents though.
I haven’t seen Michael’s course, but I know him and his education and experience. I would un-questionably recommend anything he wrote. He’s been around a long time and is very successful in the business. His course addresses more than just brokering and being a bird-dog.
ACFA is totally focused on brokering notes. There is little of anything related to buying notes. It is basic and biased to brokering. Most of those successful in their program found it absolutely essential to supplement their education with other people’s courses. That’s always a good idea, but not when you are paying thousands and promised you will receive all you ever need. A large percentage of their success stories, “Master Brokers” and even instructors are actually student of other courses and educated other places. They will lead you to believe the successful people achieved their success because of ACFA. Reality is they achieved success despite ACFA. For the same price you can have twenty times the education with courses like Michael’s, David Butler’s, Terry Vaughan’s, Jon Richard’s, Jimmy Napier, Jon Schaub or Hank Harrenberg. Take those courses and there is no question you will be successful. Take the ACFA courses and the only thing I can guarantee is you will blow your savings or be very much in debt after the courses and confused as to where and how to start. The success stories are few compared to the tens of thousands that have taken the course.
Certification means something when it is an industry certification with industry standards. Their certification means no more than a mail order college degree. It is NOT a reflection of future success. It means you’ve spent thousands of dollars for basic information and lots of stage hype. I know they have improved during the years, but the truth is that someone saying they were certified was only taken as a warning to someone who was a pro in the business. I know some that have worked hard to learn the business after becoming certified but, the basic certification means little. It’s a sales pitch and a 25 cent piece of paper.
A few years ago a group of my students went to their convention and were so appalled and annoyed by the “CMI’s” strutting around and the collective ignorance of the business they displayed that they worked up their own letters. They put “ADB” on their tags. When asked, what that mean’t they said “Already Doing Business”.
There’s some good basic information there, but the price is un-realistic. If it were a few hundred dollars, I might recommend it as a basic “overview” course for someone to get a taste and feel of the business with the caveat that they would need several other courses to finish their education.
This is like comparing a Volkswagen to a Ferrari. The confusing and sad thing is people are running around paying thousands and tens of thousands for Volkswagens and ignoring the Ferrari’s that are out there because they are low priced. It is the best example ever of an industry where prices are reversed. The best education is cheap or free and the “lightest” most basic education is the most expensive.
The most important may also be the focus. Brokering notes is an over-rated, over-populated, over-hyped and under-performing approach. Investing in notes always has been and is NOW an extremely profitable form of investment. Brokering is a low paid job that most people fail at. Investing is a solid and profitable approach that few educated professionals ever fail at. Some “hypesters” have also gone into investing and failed, but never had the education to make it work. First a Peacock - then a feather duster.