• Report: #45766

Complaint Review: Mentor Financial Group, LLC

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  • Submitted: Mon, February 17, 2003
  • Updated: Fri, September 14, 2012

  • Reported By:Durham, NC 27704
Mentor Financial Group, LLC
7475 W. 5th Ave. #100 Lakewood, Colorado U.S.A.

Mentor Financial Group Aka Peter Conti & David Finkel real estate rip-off scammers refuse to refund tuition are promoting illegal investing techniques Lakewood Colorado

*Consumer Comment: Mentor Financial Group LLC Scam Alert

*REBUTTAL Owner of company: We apologize for your experience

*General Comment: 2003 Information doesn't fly

*UPDATE Employee: Success Conference Refund requests

*Consumer Comment: Is it really illegal ?

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ALL YOU REAL ESTATE INVESTORS CHARMED BY CONTI AND FINKEL, PLEASE TAKE NOTICE!

In January I purchased Mentor Financial's 2-day $69.00 real estate "teaser" investment seminar (R.E.Success Conference) over the Internet, about 7 weeks ahead of the date. Due to a scheduling conflict I had to cancel a few days later, and contacted Mentor Financial by e-mail to get a refund on my VISA. After no response I phoned them but, again, no one contacted me.

After my third e-mail, 3-4 weeks later, Emily from Customer Service finally responded that their company policy does not allow them to refund cash payments. How nice for them! She said -get this foolishness - that the only way I can get my money back is to attend the seminar and then complain that I was dissatisfied. My only other option was to let them transfer my money into purchasing a membership (which I didn't want) or to attend a future seminar.

Since there was no stated policy on their site or in the downloaded reservation confirmation relating to cancellations prior to the event, I think I deserve my money back. The site boasts that the conferences are always sold out and since I cancelled several weeks in advance, I can't imagine that they won't fill my seat.

I don't know about you but I smell the next big REAL ESTATE RIPOFF in-the-making. I know that I can contest the charge on my credit card, and $69 is not the end of the world, but everything else on their menu - the advanced seminars and mentor programs - are very pricey. It doesn't bode well that they have company policies that avoid giving fair refunds - a dead giveaway for a RIPOFF.

Since then I've done research on this group, who promote the latest fad in investing called "Purchase Option." It seems that the success of their system revolves around outsmarting lending institutions by subverting the Due-On-Sale-Clause. This is patently illegal, and can get innocent investors into big trouble with the Feds. Hopefully some unsuspecting people will read this complaint and do some research of their own before they end up losing much more that $69.

Mary
Durham,, North Carolina
U.S.A.

This report was posted on Ripoff Report on 02/17/2003 05:20 PM and is a permanent record located here: http://www.ripoffreport.com/r/Mentor-Financial-Group-LLC/Lakewood-Colorado-80226/Mentor-Financial-Group-Aka-Peter-Conti-David-Finkel-real-estate-rip-off-scammers-refuse-45766. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
0Author 4Consumer 1Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Mentor Financial Group LLC Scam Alert

AUTHOR: whatsupdoc - (United States of America)

Scam Alert- Looks like they now went from a $69 scam to $1,000 scam with a letter saying they'll pay a finder's fee of 10K for finding fixer upper rehab properties in your community.  The catch is you have to have to pay them 1K first.....consumer beware!!!
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#2 REBUTTAL Owner of company

We apologize for your experience

AUTHOR: Customer Support Team - (United States of America)

I'm sorry to hear that you did not have a good experience. Even though no one else does this, Jerry and Peter insist on helping clients to find great deals and provide 99% of the cash to complete deals quickly.  Please contact us so that we can assist you with your concerns at www.WeLoveHappyCustomers.com
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#3 General Comment

2003 Information doesn't fly

AUTHOR: coregoodness - (United States of America)

Sorry, but this 'rip-off' report should be removed.  Every company has to have return policies in place to prevent consumers from getting access to their IP and then saying, oops...I want it all back.  You have as a consumer 3 days to examine and affirm the decision you are making.  If you are unable to that within the timeframe, guess what?  you are SOL and that is simply the cost of doing business.  Take more time to evaluate and ask better more probing questions in the future so your decision making is based on a fully rounded risk analysis.  Better luck next time but seriously?  2003?  Come on let's move on and by the way, MFG is still around and going strong.
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#4 UPDATE Employee

Success Conference Refund requests

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

Mentor Financial Group's refund policy in 2003 for individuals who were registered Success Conference was that anyone who could not attend a conference could request a full refund prior to the event. This was regardless of how the registration was paid for, e.g. cash, credit card.

We are very sorry for the confusion and lack of followup Mary from Durham, NC received. We would be happy to remedy this for her even after all this time. If still interested, Mary may contact our Client Support department at support@resultsnow.com.

Thank you,
Mentor Financial Group, LLC
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#5 Consumer Comment

Is it really illegal ?

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

If you pay for something you should get it! It is not fair that this sort of thing happens. But the internet gives scammers a new shield of anonymity never seen before. Are you aware that Peter Conti & David Finkel have written some books about purchase option investing.

I have one right now that I got at the public library. It is titled "Making big money investing in real estate" (without tenants, banks or rehab projects). I too am wary of some of the techniques they describe.

I don't thnk there is anything illegal about a rent to own program. However, the only way to be sure is to consult a licensed attorney. The way the book describes it, you as the investor is merely acting as a middle man.

Taking a property off the hands of a current owner that does not want it, and allowing some one else who does not have the ability to formally finance a property to live there. I would never attempt any of this before getting compentent legal advice.
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