We first attended one of the three day trainings after meeting James at the Santa Clara Convention Center. We were both very touched by James's message; this is not a get rich quick program, it is however a way to make great money over time and help others thru the process. In September 06 my wife and I attended the M-5 in Salt Lake City; this was immediately after attending the three day.
We found ourselves exhausted at the end of 5 days, as I think most people are following an M-5; however we were totally committed to Real Estate investing. We were so touched by the passion that we saw in many of the presenters. The emotion and tears shared and shed by attendees and presenters was incredible. One of the most passionate presenters was a woman by the name of Jolee Tibbitts. Many many of us were touched by Jolee's message of her Son's Non Profit organization and her own journey. This remarkable message was matched only by the incredible rip off that she brought about for many of us that purchased properties from her, her sister and their group. These properties supposedly had huge equity upsides to them. BS. Here is the BEWARE part. We trusted (yes people still do that and think that someone's word is good) we believed in Jolee, and that James would NEVER let someone into his group who would blatantly rip people off. We were WRONG. VERY wrong.
As I said, we trusted. The last day of the M-5 the attendee's were given the chance to place their names on a list to purchase a limited number of properties that Jolee had purchased from a builder who was going out of business. You should have seen the people trying to slip out of their seats before anyone else did and get their names on the list, very sad. Alas, we were selected and givin the chance to purchase one of these properties, AFTER we made a $5000.00 donation per property to her Sons non-profit. One of the difficult things was that we had to move quickly and doing our due diligence was challenging at best. We did nothing. ABSOLUTELY our fault and something we have not done again. As I said, we trusted and went forward.
We are now stuck with a beautiful new home in Traverse Mountain UT that we can't even come close to selling for what we owe on it; much less get $40,000 out of the deal we were lead to believe would happen. The area is SO overbuilt that the builders are dumping inventory as fast as they can. To be fair and accurate, Jolee did refund our deposit money to us, but we are still SCREWED. James is a VERY smart man and I can't imagine him not knowing what was coming, or at least knowing that many of us were being hosed, and yet he still allowed it to happen.
We have gone onto buy four other homes that are good investments and absolutely believe in the opportunities of making money in Real Estate, and completely believe in investing in an education along the way. But there is NO way I can ever say anything positive about NRI, James Smith or his RE Success organization. PLEASE do your due diligence before investing in any Real Estate education, and if you are ever (at least until you really know what you are doing) presented with a have to do it now or miss out situation, step back. It's just not worth it and other opportunities come up everyday
Santa Clara, California