My family moved from California to Utah in August of 2005. I spent 15,000 on my first "real estate education" company and I feel that I was scammed with this one also, but that is another story.
The company I would like to report on with this complaintis Nouveau Riche out of Scottsdale Arizona. I found this company in the paper from Salt Lake City. After first being scammed from the company out of Texas, I felt I may have a much better experience with a local company.
Nouveau Riche, is based out of Scottsdale Arizona. However, they have what they refer to as Independent Student Advisors located throughout the country selling thier products and in my opinion doing so using deceptive business practices.
My ISA is based in South Jordan, Utah. I had explained to him that I felt I had been burned by the previous company and that I had a real problem with trust developing. He was trying to sell me the companies top training package called the Regents.
After a very prolonged decision period to make this purchase at the $16,000 price, I finally decided to make the purchase when he found a "Partner" for me to share the cost with. My price then was cut to $8,000. Which is what I am out.I made the purchase because my ISA promised to spend two hours per week personally mentoring me in the business of short sales for as long as I wished. This was a complete lie. He did make two attempts of one hour each. However, this was only to try and drum up more business by using the information I found on my own to try and drum up more business for him by making conference calls with potential clients into the training program.
After a few months of being unemployed and trying to make a go of this practically on my own with out his promised help, I took a job in my prior field. The way the tuition package was sold at the time of my purchase with Nouveau Riche is you have one year to take the classes with the credits you purchase, then two years to retake the classes for review.
He explained to me that if I registered for the classes during the first year, I could then go back and retake the courses the next year after getting established in my full time employment.
I recently called my ISA back and he explained to me that the company changed the rules and now the policy is you get one time to take the classes and if you are a no show you do not get to retake the class. This is very deceptive as this was not the rule when I purchased.
The other thing that really bothers me is the company states that they do not make promises as to the income one can make with the education they sell. This may me true for the company, but it is not for thier ISA's. The ISA's are the independent contractors that sell thier programs and apparently for them anything is fair game as long as they make the sale.
My ISA had told me minimum income in 6 months would be $30,000 from short sales, but to date I have not made one sale.