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Report: #380118

Complaint Review: Nouveau Riche - Scottsdale Arizona

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  • Reported By: Midlothian Illinois
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  • Nouveau Riche 7077 E. Marilyn Road, Suite 130 Scottsdale, Arizona U.S.A.

Nouveau Riche - NRUniversity HOW I WAS MISLEAD INTO LOSING $16,000.00 Scottsdale Arizona

*Consumer Comment: Whos fault is it?

*UPDATE Employee: you havn't listened

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I have been an Entreprenuer most of my life, I had been researching getting into Real Estate Investing for many years. I had been to a slew of seminars on how to make money in Real Estate Investing, including one from NRU.
I had not had the financial backing at the end of these seminars to invest into getting onboard I just took my notes and hoped one day I would be able to use that information to start investing. In June of 2007 I came across an advertisement for Real Estate Investing Apprentice Make $10,000-$30,000 a month I'll show you how. Call xxx-xxx-xxxx, so I did and as in a previous article mentioned this number connected me to an out of state NRU ISA who invited me to an Investors Meeting with one of his team members who was also an ISA but a little more local to me, where I will learn about the oppertunity and meet with like minded Wealthy Real Estate Investors that are apart of this organization.

I attended this presentation, and it got me Fired up even more to want to do Real Estate Investing.
Now I was already a college student at a major university so when I mentioned that I would not be able to afford the Tuition for their Regents Package they showed me how to Leverage a private student loan, to get the cash to send them for There Tuition using my current enrollment in the school I was in already.
Now due to my financial backing I DID NOT Qualify alone for this Student Loan, so I had to get a CoSigner who happened to be another fellow student of mine in the school I was at, now My ISA had promised that if I bought the Reagents Package (by the way paid him $8,000) he would do deals that he had with me and mentor me to help me make $30,000 within the first 2 months of buying the package.(I figured great 16 out 30 in best deal possible)

Now from this student loan I paid the $16,000 Tuition to NRU, and gave my CoSigner $3,000 as a deal prearranged for him helping me out, with another agreement that I would give him 25% of all deals I made money on untill the student loan was paid off, so from the promise that would have been another $7500.00 within 2-3 months. The remaining money was used to helped me catch up on past due bills and survive till I started making this $10,000 a month that was promised.

Well within the first three months I had found and brought about 6 potential Real Estate Deals to the table, the first one would have given me $100,000 back at closing,I was told that this deal was too big and I needed to develope a buyers list and come up with exit strategies, to make these deals happen.

Now I joined the group to Learn how to make these kinds of deals happen, my Tuition was to go to their School in Scottsdale, AZ to Learn those Strategies, but I had to find my own way there, now since I hadn't any money leftover from the student loan and I coulden't afford to pay for those trips every 3 months to Arizona. I coulden't attend my first round of classes held in July 2007, I figured no big deal I'll make a couple of these deals happen and I'll go in three months when the next round of classes are held.

(I was promised $30k within that time frame.)Again I had not had any help in getting any Real Estate Deals done, I was told I need to focus on Recruiting people to the college, (It paid $8,000 for the Regents Package) if I could get them to buy it.

They also had other commissions for their lower Tuition packages and there Home Study Program but I was a Full Time Student, and Full Time Worker with a Wife and her two children, I didn't have the time to go Recruit people for the program.

When this issue was mentioned to my ISA he organized a meeting with fellow members of the orginization to give me additional tools on how to make recruiting automated so people would be calling me, instead of me calling people. well this was a nice gesture but still didn't apply to me because I needed the time to impliment those tools and get things going.

So now I have been in the group for roughly 7 months and I'm starting to worry about NOT being to attend the classes,and the money being wasted.

I still haven't used the credits I Have Paid for and I still Haven't made a dime. So I write an E-mail to Customer Service and the President of the company requesting a Refund of my Tuition minus the cost of the CD's and materials that came with the Regants package and saying that I felt manipulated into buying something I coulden't use or do.

Within 12 hrs of that e-mail I was contacted by my ISA's-ISA and also by my ISA asking what they can do to help me succeed in there program, and that THERE WAS NO REFUND TO GIVE.

Now again I Have Not Used a Single Credit I have already Paid In Full For and there was No Refund to give.
Instead my ISA said he would do everything in his power to help me make money, after that conversation I have heard from my ISA one time.

Now here it is October of 2008 I still Have Not made a dime from the company, Did Not use any of the Tuition Credits I Paid for my first year has gone by so I can not use the second year to retake any classes because I never went to the school to take those classes the first time.(the second year was to retake classes you took the first year- Refresher courses)

They did offer me their online option to watch the classes Live from the previous session, but again with School, Work and Family, I did not have the time to sit in front of my computer to watch 8-16 hours of lecture on Real Estate Investing Strategies, Thats not what I paid for and that is not what I was Lead to believe would happen for my $16,000.00

David
Midlothian, Illinois
U.S.A.

This report was posted on Ripoff Report on 10/10/2008 12:57 PM and is a permanent record located here: https://www.ripoffreport.com/reports/nouveau-riche/scottsdale-arizona-85254/nouveau-riche-nruniversity-how-i-was-mislead-into-losing-1600000-scottsdale-arizona-380118. 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. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
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#2 Consumer Comment

Whos fault is it?

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

POSTED: Tuesday, February 10, 2009

David,
I am very sorry that you have been soured by what you have experienced. I can assure you that you are not reaping the full benefits of what you purchased and the amazing opportunity in front of you.

I am an ISA from Utah. I am also a student of Nouveau Riche. My husband is the student and I am the ~Free~ tuition partner. We risked absolutely everything to get involved with Nouveau Riche. We were already living paycheck to paycheck and over extended. But we got two high interest personal loans to cover the cost of everything (we purchased every product and the highest tuition package) - And It has been by far the very best financial decision that we have ever made!

As far as your personal ISA - it is unfortunate that you didn't receive more guidence from him/her. I can assure you that just like people vary so do their abilities to be a good leader. I am sure that he/she did not promise you that you would make $30K within a specific amount of time. If they did promise that then they are personally breaking the rules and contract that they have with Nouveau Riche. Situations and people vary greatly and Nouveau Riche makes no guarantees of a specific amount to be earned either on the real estate side or on the marketing side. That's not to say that the income is not there. It absolutely is! Just no guarantees of specifics because of too many variables.

My husband & I have been actively involved as students/ISA's for less then 6 months. We have managed (although we had no money to do so) to go to the school in AZ (went Dec. 08). It was the most amazing educational experience we have ever had. We learned so much that our heads were totally spinning. This coming from total rookies - we always wanted to get involved in RE investing but never knew how. We have offers to get involved with different real estate deals on an almost daily basis. We have not yet acted upon any of them as of yet but that is simply because we have too much credit card debt and want to finish paying that off first - that is our choice an in no way reflects on Nouveau Riche. We have offers from countless NR community members to assist us with any aspect of a deal. Offers from a few to partner with us and walk us through the first few deals step by step and split the profits. But we network - we get involved! We don't just rely on our ISA mentor to be the one to teach us. The great thing about Nouveau Riche is the phenomenal community of investors all willing to work together and leverage each others strong points. Just because your personal ISA failed to do what he personally promised does not mean that Nouveau Riche is a bad thing. Nothing could be further from the truth! If he was telling you that it was too soon to get involved with a real estate deal, then you should have been asking others.

The students of Nouvea Riche give the school over a 98% approval. That means that less then3% of all students are not satisfied. Those are the best odds I've seen and I personally can tell you that there is a reason for it. Nothing even comes close to what Nouveau riche offers their students. The caliber of education is the best! As far as success rates go - Nouveau Riche is somewhere around the 70% mark. So most of their students go on to be successful real estate investors. The only reason it's not 100% is beacuse of the lack of motivation of the other students to actually use the information and act upon it. No one can do it without putting forth the effort to do so. I hear that the late night gurus and seminar companies are seeing student success rates of only 3-5%. 3-5% compared to around 70% - what a difference! Like I said before - Nothing comes close to comparing to what Nouveau Riche offers!

As far as not being able to go to the school in person. It is too bad that you couldn't afford it and have missed out on that - but IMHO there is always a way. We got an extra credit card to pay for our trip(not that we could afford it - but it was worth it). Lots of people in your area are involved in NR - you could have carpooled down to AZ (lots of people do). You could have borrowed it, saved for it or had a yard sale to help raise money. The fact is that there are ways, you just need to search until you figure them out.

As a Regents tuition holder, you have complete access 24/7 to the courses online. They are there for your convienience and you shouldn't complain about it because it's the actual classes themselves. In fact they are presented 2 ways for the students. You can download the classes in MP3 format - These are complete classes, you get to hear every word the intructor is saying. We download these onto our Mp3 players and listen to them all the time. I have listened to classes I have taken already and classes I haven't taken yet. The classes are also offered through streamline video via the computer. You can actually see the instructor and how he is presenting the information, you hear what he's saying and what it's doing. It has a PDF file to actually download the workbook and any forms that the live students have too. You can view the workbook, print it out follow along - it's almost as good as being there in person. So when you say that you don't have the time to watch the classes online - I say that you are the one wasting your own money. You paid good money for this amazing education. If you do not take advantage of it, then you are the one at fault. The information is there - Take it! Learn! Get back involved with the community (forget the ISA that let you down) really plug into the community and put forth the real effort it takes to be a success. You can do this! Nouveau Riche is by far the best tool out there and you shouldn't throw it away with a sour note trying to turn others off. I am not a real estate expert yet, but If you seriously want to learn and to plug into the community then I would be happy to personally assist you (and I'm not making a dime from it). I also have several people in your local area that I could get you connected with. If you are interested let me know.

PS - Our ISA is a single mom who works full time and barely has time to do the business herself. Needless to say, we didn't get a lot of assistance either. But I totally understand her situation and do not blame her. We will be successful because of us! We have absolute complete faith in Nouveau Riche and in ourselves. Failure has never been an option and we will never fail! Your success depends on you! May I suggest that you get the book Think and grow rich by Napoleon Hill - you may find it very beneficial. - Nouveau Riche is Great! By far the very best financial decision that we have ever made. The marketing side is exploding and the income potential is out of this world! And the education is absolutely unsurpassed! I hope that people reading will gain some further insight from my personal experiences and knowledge.

Thanks for taking the time to read this...

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#1 UPDATE Employee

you havn't listened

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

POSTED: Monday, November 10, 2008

Sir
If you bought your regents in 2008 you have online classes that are part of your
tuition package. You don't have to tavel any where but to your computer.
Along with you have weekly mastermind calls with our real estate coaches.
You also have the largest view of the investor conceriege where you can clic a mouse and buy a house. Did you take the time to look over what you bought?
They try thier best to make this available to you no mater what your situation is.
Larry Mitchell
Independent Student Advisor

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