• Report: #185065

Complaint Review: International Association Of Investors

  • Submitted: Wed, April 05, 2006
  • Updated: Sun, December 23, 2007

  • Reported By:Fort Myers Florida
International Association Of Investors
250 S. Tamiami Trail, Suite 102 Venice, Florida U.S.A.

International Association Of Investors - Global Resource Network - Don Burnham - Fraud- Scam Watch ripoff, seminar with bogus information, inflated promises Venice Florida

*Consumer Comment: IAI is no more a rip off than an excersize machine collecting dust in someone's home

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Don Burnham / Discount Buyers Association and Global Resource Network is now doing business as International Association of Investors. I just attended a free seminar they held in my area (Fort Myers, FL) enticing the audience to pay $1000 right then (or $1500 later for (indirect quote) "those weak-minded folks who can't make a decision now" --Don Burnham himself) for their 3-day workshop to be held in, get this, AN UNDISCLOSED LOCATION SOMEWHERE IN FLORIDA! That was my first question mark. Then there was a rumor going around after the seminar in the hotel that the class was to be held in Sarasota. Almost 50 miles away! Gimme a break! After being talked out of it by my wife and my pastor I passed on it. Wasn't 'til I read everyone's testimonies here that I realized I may very well have made the best investment decision in my life... the decision NOT to invest!

For what it's worth, to those of you who got tied up in or may be continuing to fight these rascals, stay strong, God is with you. Pray about it, and I mean really pray. Don't read a manuscript, don't use a book, and, no disrespect intended, forget about the "Our Father, who art in heaven" verse (Matthew 6:9-13); I mean TALK to Him. That's what helped me decide.

By the way, here's another site with an expose on the company. By the looks of it, they're running the same game as IAI that they did as GRN. What gaul!

Fort Myers, Florida

This report was posted on Ripoff Report on 04/05/2006 12:07 PM and is a permanent record located here: http://www.ripoffreport.com/r/International-Association-Of-Investors/Venice-Florida-34285/International-Association-Of-Investors-Global-Resource-Network-Don-Burnham-Fraud-Sc-185065. 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 Consumer Comment

IAI is no more a rip off than an excersize machine collecting dust in someone's home

AUTHOR: Dross2861 - (U.S.A.)

IAI is no more a rip off than an excersize machine collecting dust in someone's home. If you do not use it, is "Total Gym" responsible for ripping you off?

Paying for and attending IAI training does not guarantee success. You are responsible for applying the techniques and achieving your own successes. If the IAI training manuals are sitting on the bookshelf collecting dust, is that IAI's fault? In truth, I neither agree nor disagree with the writer's opinion. I will only say that cause of the writer's opinion in this article can only be seen in the mirror.

I purchased a basic IAI training package without their mentoring package and I have had success, because I did not simply sit on my hands and wait for success to happen. I have developed some friendships with fellow seminar students; some have been successful and others have not. The differentiator has been action or inaction. One couple purchased the $49,000 seminar package with mentoring and every time I had seen them in later courses, their answer was the same when asked if they had started yet. That answer was No, not yet. Others who had purchased the smallest of packages without mentoring had completed profitable real estate transactions as have I. My first property required no rehab and was resold 10 days after resale listing, for a profit of 22k. I counted the total number of hours worked to acquire, carry and exit the deal and calculated my hourly wage to be at $922 an hour. The bottom line is it took 22 hours of action to accomplish the deal.

I have purchased and sold 3 properties successfully since my final seminar course September 14th and have 3 other properties in varying stages of the process. One is rehab complete and on the market (appraised at 330k, purchased for 224k, rehabbed for 4k, listed for resale at 297k, on the market for 11 days). The second is currently under rehab to be completed by January 15th (after repair value appraisal at 750k, purchased for 380k, rehab cost budget of 73k, planned listing price of 675k). The third has just been acquired (appraised value 167k, purchased at 114k, estimated rehab costs 5k, planned listing price of 147k).

Oddly enough,

When I was in the bank this morning requesting a cashier's check for $3,000 from my business account for a payment to my rehabber for work being conducted on my 750k property, I had an interesting conversation with the bank teller. She asked if I was in the Marines or if I was simply wearing a cap that said Marines on it. I explained that I was in for 12 years but that I was now a Former Marine. She said she asked because her cousin was a Marine and then she asked what kind of business I was in. I explained and then she stated that her and her husband wanted to buy a home and had planned to do so after she started working, hum. I asked where they planned to do there home search and she replied Sachse, Texas, hum. My third property valued at 167k just so happens to be in Sachse, Texas, hum.


I explained that I planned on selling the Sachse home for 20k below market value and that if they want to see the home and they like it, I would further reduce the price by over $5,000 if I did not have to list it and they would purchase without a buyers agent, hum.

In Closing,

I used to wish that all the things I learned would be kept more secret, so there would be less competition. I have since learned that there are so many more real estate deals out there that not all can be purchased. I have to pass on deals every day because I can only do so much.
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