This company (The Real Estate Network, LLC), and it's owners (Scott Morris and Matt Garcia III) are the biggest real estate ripoffs around! To make a long story short, I attended a real estate investing conference from these guys and they convinced myself (along with around 50 others) to attend their "boot camp." It costed me $6,719 in certified funds and three full days of classroom work and travel.
What did they promise in return? A wealth of easy money created by real estate investing! They promised access to funds, including they're company out of TX - Excel Mortgage, who is one of the hardest, most expensive mortgage lenders around. They can't even fund foreclosures bought in the state of UT because state law says that a 24 hour funding has to happen (Excel takes a minimum of 72 hours). Also, we (the attendees) were promised easy and quick access to the two owners, but they both take a few days to answer emails, and we were never given their cell phone numbers (contrary to what they told us). Stated in the contract is also that we'd talk to other members of the company ONLY if Scott or Matt were inaccessable, but then we were directed to NOT contact those two unless we couldn't get a hold of the other members.
They also promised us that they'd air an infomercial on local TV that would send tons of wholesale properties our way. Has it happened, yet? NO! Will it ever? Of course not! When I asked the SLC contact what happened regarding the TV spot, he has no idea either! I believe they charged him a pretty price to be the "special contact" for this deal, also (to be our "wholesale contact."
So, what else was put in the contract? That we had to split our profits on our first five properties with TREN in exchange for this "mentoring." WHAT MENTORING?! We have NO access to the monies they promised us, we have hardly ANY access to anyone to mentor us (they fired the guy that was our "first contact" almost immediately after the boot camp, and the all left town - they live in TX). The contract itself seems incorrect - it states that it doesn't end until the profits of the five properties are split, but it also stated that the mentoring only lasts 6 months.
After the three day boot camp, none of us have received ANY type of mentoring, even after trying to contact these ripoff artists!!! Oh, also - if you attended their boot camp in the state of CO, you only had to split your first two properties - ??? Why are they so inconsistant???
Anyway, if you ever hear of this company - The Real Estate Network, LLC, or of Scott Morris or Matt Garcia III, RUN AWAY!!! If anyone else has been a victom of this scam, please also post your thoughts on here. Maybe there's something we can ALL do about at least getting our $6,719 returned back to us.
Tren - Disgruntled!!!
Salt Lake City, Utah