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Report: #1347925

Complaint Review: Success Path - Cottonwood Heights Utah

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  • Reported By: Doug — Westmineter Colorado USA
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  • Success Path 2750 East Cottonwood Pkwy Ste 200 Cottonwood Heights, Utah USA

Success Path Tarek and Christina El Moussa Ripped Off Cottonwood Heights Utah

*Author of original report: Reached an Agreement

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I attended a presentation that I was invited to via regular mail.  My wife and I loved Christina and Tarek, so we were excited.  Regardless of a no show of Christina and Tarek, I paid approximatley $1,300.00 to attend the 3 day accelerator coming up in my area.  I attended the 3 day accelerator, which once again neither Christina or Tarek atended, and during that 3 day accelerator a new investor skyped in his testimonial.  A former LA police officer turned real estate investor proclaimed making in excess of $700k in the past two years.  In his first deal, his mentor TEAMED up with him proividing the gap funding needed in order to procure the property, and then assisted during the entire flip process, hence regaining his $40k-$45k investment within months.  Nothing even remotely close to this took place for me and me partner and wife at the time.

I am a licensed real estate broker and licensed contractor in the Denver area, and I was looking for the edge to take me to the next level, and I bought it!! All of it!!  I invested approximately $45,000.00 plus expenses, advertising, traveling to the summit in Vegas... I invested over $50,000.00 in this.  It has been 10 months since the 3 day accelerator and I have still not flipped a house.  Success Path took all of my capitol and never did anything to help me regain my investment.  My mentor was a joke... I could have easily done what he did on my own, I actually had done what he did weeks before. He drove us around, showed us properties and told us to make offers on certain propeties.  Pretty much every property that I found he suggested I make offers.  Every single offer got turned down, because of the market conditions in Denver 2016.  That's about as far as his mentorship went.  Two months later I actually got lucky and landed a contract on my own.  The offer was for $211,000.00 with a rehab cost of about $30,000.00, and a resale possibility of $290,000.00 to $310,000.00... I had done it!  So I had thought.  My mentor informed me that he does not TEAM up with students, my hard money lender wanted me to bring $50,000.00 to closing, which I no longer had because of the money that success path took from m.  Instead, he would be happy to help me assign it.  He contacted one of his investors to pick up the assignment and I got a $5000.00 commission for my work.  $5000.00 is $5000.00, but when you just invested $45,000.00 and your "mentor" takes your deal and gives it to his investor, that is the absolute opposite of what I was sold in the 3 day accelerator.  I am a licensed contractor and I wasn't even offered an opportunity to do the rehab.

I am still remodeling houses and working new construction to the tune of 7 days a week, because I now not only have to make my payments of the $45,000.00 between 3 different credit cards, but I am also paying in excess of $1000.00 a month in insterest charges.  My wife and I divorced and separated, partly enlarge to our financial situation.  I am now renting a house that I remodeled from one of my clients.

I cannot afford to advertise for whole selling anymore, I cant even afford to write a check for earnest money at this point.  My credit card companies have me by the throat, therefore they will not offer any kind of reduction in interest rates.

I have lost the ability to invest even a small amount in a real estate deal, I have nearly lost the ability to fund my remodeling business and I have lost my wife and marriage.  This is simply the worst financial decision I have ver made in my entire life.

If anyone out there can assist me in anyway I would greatly appreciate it.

Also if you have any questions regarding the real estate fix and flip industry, please contact me.  Ill be ahppy to answer any questions, but under no circumstances give anyone from HGTV or Success Path your money.

This report was posted on Ripoff Report on 01/05/2017 05:13 PM and is a permanent record located here: https://www.ripoffreport.com/reports/success-path/cottonwood-heights-utah-84121/success-path-tarek-and-christina-el-moussa-ripped-off-cottonwood-heights-utah-1347925. 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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#1 Author of original report

Reached an Agreement

AUTHOR: - ()

POSTED: Tuesday, January 10, 2017

Success Path and I have reached an agreement for an undisclosed refund amount and we are parting ways amacably. 

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