• Report: #126555

Complaint Review: Mentor Financial Group

  • Submitted: Sun, January 09, 2005
  • Updated: Fri, September 14, 2012

  • Reported By:San Diego California
Mentor Financial Group
7475 W 5th Ave. #100 Lakewood, Colorado U.S.A.

Mentor Financial Group False money-back guarantee Lakewood Colorado

*REBUTTAL Owner of company: We apologize for your experience

*REBUTTAL Individual responds: Rip off with the risk free guarantee

*UPDATE Employee: Mentor Financial Group's 90-day guarantee

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This complaint concerns a course that costs $5000.00 and that teaches you how to buy real estate, at reduced prices, from people who have difficulty selling through normal channels. There is nothing illegal about this, and it's the sort of scheme that can work in a depressed or even a normal market, but is virtually impossible to make succeed when the real estate market is booming. This fact was not, of course, mentioned in the hype meeting that glibly persuaded me to lay out $5000.00.

For me, the ultimate persuader was the "Risk Free Guarantee".

The following three points describe the basics of the problem:

1. As an incentive to individuals to purchase the course, a written "Risk Free Guarantee" was given. The wording of the guarantee included the fact that you were required to fax in one COMPLETED OFFER, SIGNED BY A POTENTIAL SELLER, EVERY OTHER WEEK, BEGINNING IN WEEK TWO.

2. In a booming real estate market in which there is no reason for any property owner to sell under the conditions necessary for the methods to be effective, the 'students' are doomed to failure.

3. The real estate market, San Diego, where the course was promoted in January 2004, was booming. The promoters knew or should have known the likely consequences of this, namely that anyone needing to sell a property could easily do so and would have no interest in the scheme being promoted. This was not explained to potential students. In fact, just the opposite - the promoters, Peter Conti and David Finkel, boast how they and a group of three new students were able to make wonderful deals in only a few days in San Diego. They do not mention that that was done some time ago, a time when the real estate market in San Diego was at a low.

To summarize these three points:

Due to the robust state of the San Diego real estate market in the early months of 2004, there was virtually no chance of a person, following the course methods, being able to obtain a genuine offer signed by a potential seller every second week, and certainly not within the first two weeks of starting. The Risk Free Agreement was therefore impossible of execution, thus automatically rendered useless and essentially misleading.

When I asked for a refund, I was told that I had not fulfilled the requirements (see above) and no part of my $5000.00 fee wopuld be returned.

BUT, again, the Guarantee specifically states that, "There are no refunds FOR ANY REASON, for those who have not actively participated AS DESCRIBED". In other words, even though it may be impossible to fulfill the conditions, no refund will be given anyway. The guarantee is worthless.

It is a fact that none of the several students' in San Diego, who took this course in 2004 was able to execute a deal within the stipulated 90 day period. The only other person I know who asked for a refund was given essentially the same answer.

As with so many other schemes of this sort, you have to wonder why, if they promoters can make so much money in real estate, they spend large parts of their lives "teaching" others how to do it (Possibly a room full of 150 or so students at $5000.00 a time might have something to do with it!)

Incidentally, I reported this to the Better Business Bureau and am still waiting for a reply. I suspect that the Mentor Financial Group have a lot of influence (read 'money')in the Denver area.

San Diego, California

This report was posted on Ripoff Report on 01/09/2005 08:52 AM and is a permanent record located here: http://www.ripoffreport.com/r/Mentor-Financial-Group/Lakewood-Colorado-80226/Mentor-Financial-Group-False-money-back-guarantee-Lakewood-Colorado-126555. 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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Updates & Rebuttals

#1 REBUTTAL Owner of company

We apologize for your experience

AUTHOR: Customer Support Team - (United States of America)

I'm sorry to hear that you did not have a good experience. Even though no one else does this, Jerry and Peter insist on helping clients to find great deals and provide 99% of the cash to complete deals quickly.  Please contact us

so that we can assist you with your concerns at www.WeLoveHappyCustomers.com
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#2 REBUTTAL Individual responds

Rip off with the risk free guarantee

AUTHOR: snow - (United States of America)

My only regret here is that I didn't check this report before I paid the whole $5000 for the course from this Mentor Financial Group. Instead of 'get a risk free guarantee', I received a totally huge risk to myself. I received the learning materials about a week, after briefly reviewed some of their materials, I realized that's not a fit for me to spend time and effort in this type of investment, so I requested for a refund, because I have no interest to working in real estate at all. Guess what answer I got? Of course, they will not refund me ANY PENNY!!! and even suggest me to sell those materials online like ebay or something to get my money back! So their aim is to try to sell as much as possible and make a perfect escape clause that you have nothing to do but give them YOUR MONEY!!! If this not a rip off, I definitely learned a lesson here. I share my expeience here, hoping that if you are in the decision of investing your money like this, think carefully and check around, don't make the same mistake like me! Wen from Wisconsin

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#3 UPDATE Employee

Mentor Financial Group's 90-day guarantee

AUTHOR: Elizabeth - (U.S.A.)

Mentor Financial Group stands by our program. Just click here to see a few of the success stories from our students (including San Diego) http://www.resultsnow.com/testimonials.php.

We work to be very fair to our clients, and to ourselves, by laying out the guidelines of our 90-day guarantee when a new student signs up. As William was told at the time he signed up, and as was clarified in all the paperwork (initialed and signed by William), this involves:

Attending the Intensive Training within 12 months of starting the program

Submit 3 completed Gold Forms each week

Fax in one completed offer, every other week

Fax in Weekly Wealth Factor worksheets (from the Quick Start Action Plan)

Attending at least 50% of the tele-conference calls

There is no stopping the program once it was started and only people who have followed through with the 90-day plan of action are qualified to get a 100% refund if they didn't have their first deal done with $10,000 of locked in profits.

Both Peter and David feel strongly that we will only work with people who have made a full commitment on their part to be part of the program. Unfortunately William did not follow through on his commitments to the program and therefore did not qualify for a refund.

Thank you,
Mentor Financial Group, LLC
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