$41,000 lost - Guru company name

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$41,000 lost - Guru company name

Erica Nagle

Investor · Peabody, MA · Member since 2015 · 114 posts · 107 votes

Premier Mentoring AKA

Alternate Business Names

Advanced Financial Training

Advanced Real Estate Education

Financial Media Group, LLC

Find and Flip

Flip Advantage

Flipping Formula

Loral Langemeier

Premium Financial Training

Property Bank

Property Wars

Real Estate Addict

Success Path

Top Trader

Trend Trading

Zurixx, LLC

No one talks because if they got money back they signed a ridiculous agreement that states they will forfeit the refund if they bad mouth them. They also make the person remove all negative online reviews. Additionally any and all legal steps a person may take can only be done in the state of Utah.

I know this because I have this agreement sitting in front of me ready to sign for a fraction of the total amount owed.

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Cindy Chiro

San Marcos, CA · Member since 2017 · 2 posts · 3 votes

I am sorry to hear about your experience. Once again they WIN.

A group of us are ex-employees and clients and we have retained an attorney for a CLASS ACTION CASE.

If you have lost money like we have reply here so we can talk. We have each lost $150K in her secure and fraudulent investments. If you have had financial harm, deception, fraud, etc, done there is no cost to join our case, we have funded it ourselves to help the rest of you out who may not be able to.

Cindy C-Arizona

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Ariel Bertsch
Ojai, CA · Member since 2016 · 18 posts · 2 votes
9y
@Erica Nagle, you mentioned, Loral Langemeier. My parents just bought one of her programs/systems. I'd love any insight you have.
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Ned CareyPro Member
Moderator
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
9y
@Robert L. sorry to hear about that. I bet they don;t tell students at the average return tax lien investors get that it would take 1-2 years to recoup that $41,000 assuming you had $1,000,000 to invest.
See this thread about an AZ auction
https://www.biggerpockets.com/forums/70/topics/413...
The investor returns were about 5-6%. When you consider that most liens redeem on average after 6 months, that is 2.5 - 3% actual money in your pocket.
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Alex Brown
Galloway, OH · Member since 2017 · 1 post · 0 votes
9y
Cindy C from Arizona, could I get you in touch with my father? He was lead into invest over 60k in tax liens through one of these companies and now has deeds to 3 condemned properties in the ghetto. The Ohio attorney general has been contacted but more leverage is always better...
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Carol Hensal
Orlando, FL · Member since 2015 · 26 posts · 3 votes
7y
About 4 year ago, my business partner and I also invested in this scam. The reason? We wanted to learn everything asap instead of the learning curve we thought it would take. Also, because of the hype of what they promised. We had calls with our coach every week which were not that helpful, we did as much as we could according to their advice.. it simply didn't work. And it wasn't because we didn't try. We finally gotta them to return $10,000 but we were still out three times that.
We finally got a rental unit on our own that's cash flowing 3 years later. But flipping? Not S'much.
For the money we spent, it wasn't worth it. Lesson learned. But ya, sign me up for a class action law suit any day.
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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
7y
These turn-key companies are always a red flag for me because there are so many ways for them to take advantage of their own client. This is a clear violation of the law because they are supposed to look out for your interests.
They buy the home at a major discount.
They sell it to you for market rate, maybe higher.
In some cases they charge you for renovations after purchase, using their own crew or they use an outside crew but then mark up the charges for profit.
Then they hand it over to their own property manager and charge you management fees.
On-going maintenance is typically done by their in-house crew and that is also marked up.
If you are going to buy investments in another area, the key is to have a team that can check on each other.
1. REALTOR to help find the deals;
2. Contractor to inspect the deal and ensure it is what the REALTOR has presented;
3. Property Manager can cross-check the REALTOR and Contractor
Everyone considering investing out-of-area should read Long-Distance Real Estate Investing by David Greene in the Biggerpockets book store. He goes over this very well.
The DIY Landlord Book4.7248 Reviews
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