ED Magedson – Founder
Kingdom Builders Financial GroupPhiladelphia, Pennsylvania USA
Kingdom Builders Financial Group Hard To Believe They Are A Real Company With A Real Opportunity Philadelphia Pennsylvania
I have been involved with real estate investing and lending for over 30 years. I have bought millions of dollars worth of commercial property and have made loand on behalf of my hard money lending company in the hundreds of millions of dollars.
My daughter in law joined this firm's opportunity under the premise that she would be a commercial finance consultant. She went through the process, a rather loose process at that and got her training packet. The training packet seemed okay and she went out into the market place and bought in a lead on a pretty good deal from their perspective.
She soon found out that what she was doing was nothing more than gathering leads and providing forms, which the client themselves had to complete. This is in no way being a commercial consultant because there is no consulting work going on.
She sat through some additional so called training calls where a different person seemed to do it each time and each time all they were doing was reading from the training packet, zero training going on. They all use the same deal example, a $50,000,000.00 deal and the potential commission. These are not the everyday deals most in the business see, and they say they can do deals up to $500,000,000.00. The lenders I spoke with who could fund these amounts and I know them all personally, said they would never let a group like tyhis have access to their money or deal with some consultant who's training is from some 30 page training packet.
After a few weeks, all of a sudden this commercial real estate company started sending out emails about some mlm opportunity with chocalate and something called Motor Club of America, which after researching has proven to be a scam in itself. When my daughter in law actually spoke with Mr. terrence Smith or Coach as he is called, and he never does actually teach anyone anything by the way, she informed him of who I am and he said yes I know the name and he said well I am a Billionaire myself. That is a joke because I have spoke with many people in financial circles and commercial real estate circles and no one has ever heard of this guy and very few ever heard of his company and this guy is a Billionaire.
Experienced business people, let alone Billionaires do not push mlm opportunities that prove to be scams, atleast from my view. Now my daughter in law got a email the other day that said Kingdom Builders is no longer free and they want you to pay $199 which includes some three day training or $49 to be a referral agent.
If they are making all this money off of deals, why do they need to begin charging a fee to be involved. This has proven to be yet another scam in a long line of scams in the financial services industry.
This report was posted on Ripoff Report on 01/19/2014 12:14 AM and is a permanent record located here: http://www.ripoffreport.com/r/Kingdom-Builders-Financial-Group/Philadelphia-Pennsylvania/Kingdom-Builders-Financial-Group-Hard-To-Believe-They-Are-A-Real-Company-With-A-Real-Oppo-1116723. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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