Premium Financial Training Success PathFlip AdvantageZurixx, LLC Ponzi Scheme, Scam, Long Play Con Salt Lake City Utah

Below is an overview of what we have experienced. I am writing this letter to Premium Financial as an official notice of a refund request for the “ tuition fee” paid to your institution on the basis that nothing of which was solicited to us has turned out to be true or remotely close to factual. In fact this marketing scam has all of the financial equivalent of a Ponzi Scheme, in which a group of people “actors” pretend to be real estate investors who claim to be willing to give you all the secrets of untold wealth in the real estate for a mere $41,297. In fact this truly is a long play con. And one that apparently works very well. I will continue by listing a few of the discrepancies, mainly for the viewing of the credit card companies with whom we have disputed the “tuition” charges and our attorneys, who I am currently having look into filing a class action law suite against Premium Financial so that it may be deterred from taking advantage of more people. In the initial meeting with Mark Chapman, it was said we could follow this program with no money out of our pocket for purchasing properties no matter what capital or credit we currently had. Obviously the key to real estate investing is being able to purchase real estate. We were promised access to funding with unlimited financing up to a half million dollars to cover the cost of purchasing and rehabbing properties with no out of pocket cost until the property was sold. Come to find out that is not the case. When the program was explained to us in the December workshop this topic, though ask about by several people attending the event, was continually avoided and passed over. With good reason because it was an out and out lie. Without access to the financing that was promised the whole program is worthless to us. The whole premise is based upon not only being able to locate properties at absurdly discounted prices, which we were also promised that the system would deliver to us and doesn’t, but putting in offers and purchasing said properties with “someone else’s money.” As mentioned the financing portion was not even covered at the seminar in December. It wasn’t until the following appointment which was titled a 3-day bootcamp where the speaker was again asked about this key element and his answer was he knew nothing about such a program. He said the only funds that are available are strictly transactional and they do come with upfront fees to use them and payments must be made even before the property is sold. Obviously a completely different story then what we were told at the beginning prior to us paying out $42K. The idea on financing that was heavily drilled into participants was to exacerbate our credit lines and open as many credit cards as possible and alternating your due dates of said cards and use varying cards to pay off balances accrued on other cards. Which may or may not be illegal depending on who you talk to. And it is suggested to continue doing this process until your able to pay the balances in full with the proceeds from the sale of the property purchased with the credit cards. I have spent countless hours following everything that I have been given to do, only to find very few properties that fit the criteria given to us during the seminar, and those that come even close have given no consideration to the ridiculously low offers we have been instructed to extend. We have placed ads, sent direct mail pieces, gone to REIA meetings, as well as designed and purchased a new website, and paid to set up our LLC. Which three LLC’s were supposed to be included in the purchase price. This also brings me to another point in which I drew a red flag regarding this outfit, because the advice we received regarding the nature of which the company was to be structured from the provided consultants didn’t coincide with any of the CPA firms we consulted privately. And when asked questions regarding the methodology there was never a clear response. Simply this is what we recommend though you can do it any way you like. Almost as if the so called consultants were just reading a script. Another major selling point which was highly promoted during the three day seminar in December was a software titled “Property Farm” This software was described as the golden tool with regards to locating properties which meet the criteria or formula as it was termed, that would allow much of this to be possible. And as with the financing that was promoted to us, this too was a joke. When we were at the buying table we asked to see a version of the software, only to be told a flat out no. That there was no copy there. Which didn’t make any since considering it is a software you log onto a server to access. I mean out of the entire team that was there no one could manage to log into the server to show it to us. Now I know why. Of course we should have know when the team member that took our money not only told us no flat out fund it on some of the new credit cards we had just opened the day prior. Great except it takes a few days to receive those cards in the mail. Next suggestion; write us a check and we will hold it until your credit cards arrive. Thankfully we were smart enough to place a stop payment on the check the following day. Come to find out after speaking with another couple at the following bootcamp, they were not so lucky. Premium Financial cashed the check along with processing the credit cards for the full purchase amount. We also learned that there were other people who received the same package from Premium Financial for as little as $12,000. Now far be it from me to begrudge one’s negotiating skills, however it would seem to me that if this were truly a legitimate company offering truly legitimate services I just cant imagine they would except giving somebody the same information that others paid nearly for times as much for. That would be like me walking into the financial department at the University of Texas and saying I want an engineering degree from your institution, but I’m only willing to pay a fourth of the price for it and they just miraculously say....”Sure why not.” And last but not least came the wake up call. As if all of the wasted hours attempting to follow this crap wasn’t enough, we received a call with a special invitation to join an elite group that’s success stories would be used to prompt Christina & Tarek’s HGTV show. Yes it was so elite that they wanted a minimum of another $15,000.00. Just to receive phone calls helping us make our business a success. Pretty ironic considering we were told from the beginning our $42k purchase included phone support. These are just a few examples of how Premium Financial has failed to deliver on the promise of the the products and services which we were sold. They refuse to talk to us and to the credit card company.