• Report: #1030622

Complaint Review: RE Success Group James Smith

  • Submitted: Mon, May 21, 2007
  • Updated: Fri, November 30, 2007

  • Reported By:Santa Clara California
RE Success Group James Smith
14039 Minuteman Dr. Draper, Utah U.S.A.

National Real Estate Investors NRI RE Success Group James Smith BEWARE BEWARE BEWARE RIPOFF Draper Utah
*UPDATE.. James Smith and the James Smith Real Estate Coaching Company strongly demonstrate their commitment to total customer satisfaction through the Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program, the program that benefits the consumer & assures them of complete satisfaction & confidence when doing business with this company. James Smith teaching realistic, long-term real estate investing strategies that will consistently build wealth over time. Draper, Utah

*Author of original report: James Smith Really Is the Person We Originally Thought Him To Be !!

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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

This report was posted on Ripoff Report on 05/21/2007 06:39 PM and is a permanent record located here: http://www.ripoffreport.com/r/RE-Success-Group-James-Smith/Draper-Utah-84020/National-Real-Estate-Investors-NRI-RE-Success-Group-James-Smith-BEWARE-BEWARE-BEWARE-RIPOF-1030622. 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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#1 Author of original report

James Smith Really Is the Person We Originally Thought Him To Be !!

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

JAMES SMITH has gone far and above what we expected in rectifying our situation after sharing with him our story and extreme disappointment with the investing nightmare we found ourselves in after the M-5 (specifically the pressured purchase involving Jolee Tibbitts, a then presenter for NRI). James' willingness to not only listen to the facts of the situation but to also be proactive in giving us a hand up in finding resolution to the situation tells us that the original message that he was delivering and what so endeared us to him was and is REAL. His approach to ETHICAL BUSINESS that can generate great financial wealth and place you in a position of giving a "hand up" not a "hand out" to other people or even entire communities is unique in a world of "shady" dealings and scam artists.

To date, and many months after resolution, he continues to maintain contact with us even though his schedule is one of the busiest I have ever seen.

For us this has been an amazing reassurance that there are good and ethical people in business. But, NEVER be so moved by ANYONE, especially so called EXPERTS, that you FAIL to do your DUE DILIGENCE in determining whether or not a real estate purchase will provide you with the anticipated strategic financial outcome for your portfolio. JAMES SMITH even teaches the importance of doing your due diligence.

Jolee Tibbitts was presented as a real "EXPERT" and the properties were in her home state where she supposedly had a plethora of market knowledge and yet AFTER we owned the property what we found out is that the same development where our brand new home sat the same builder was still building houses (yes, the story we heard of the builder going out of business and wholesale assigning the homes to Jolee must have been a BS story) plus the builder had overbuilt, the market was dropping and there were WAY TOO MANY houses on the market so we were stuck competing against a builder who could easily undercut our price, offer more options on the home, financing incentives, etc. Even so, it was never our strategy to immediately flip the house. We had a Lease Option strategy to hold the house for a minimum of 1 year. Jolee told us that by lease optioning we could immediately get 10% option money up front since there were so many people that had gone BK in the past few years in UT that they had lots of cash but could not necessarily get traditional lending. Not true!! We later learned that we would have been lucky to get 3%. The prices have eroded so much from our original purchase price that we will be very fortunate if the market recovers to our original purchase price in three years.

Lastly, I have a STRONG comment about BIG BROTHER, aka RIPOFF REPORTS. We requested that the comment regarding James Smith be removed from the report; i.e., I wanted to delete the report since we found that he was not the villain that we felt due to guilt by association with Jolee Tibbitts. But, oh NO, apparently, we, the general public, are not intelligent enough to make decisions for ourselves and need to be protected from our own choices by BIG BROTHER. My view, they are exactly what they are trying to protect us from. Makes one think, now doesn't it?

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