Nouveau Riche?

Question

I'm an investor, and I'm hoping I can solicit some help from some of you with more experience in a specific area.
I've come across a business opportunity called Nouveau Riche University. I'm pretty stoked about it, and I've seen a lot of good things that I like.

I know theres always two sides to the coin. Has anyone had experience with Nouveau Riche before. Ideally, I'm looking for someone that got into it, and found something they didnt see before that made them not want to be a part of it.

Any information would help.

Thanks,

Gwilliman

Joshua Dorkin · Answer

Jeff - 
Not all clubs are like that.  Perhaps I should have been more clear.  There are many REALLY good clubs that are focused on helping their members.

There are also quite a few that exist for profit, and who will do what they need to to make a buck.

Richard Warren · Answer

My local REI club had devolved into the selling format and people stopped coming.  It reached the point where it was about to fold.  Another investor and I reached out to the club founder and offered our advice and assistance.  The club has moved back to an educational format with a limited amount of paid sponsorship.  We donâ€™t allow any of the nonsense that almost killed the club and it is starting to grow again.

:cool:

Susan K. · Answer

The people who contacted me from NR were very nice, but it just wasn't for me -- especially the price tag!  I had already gone through most of the training they listed and I couldn't see recruiting others into it, either

Thomas Muttwill · Answer

Hi Joshua,

Great point. Just in my situation it would nearly be like putting the cart before the horse. I am still learning, not sure where to start and seem to be far away from my first deal. I would definitely want to do something like that in the future. But right now my energy needs to be focused on getting started, study for RE license, work a full-time job and getting things ready for my little one (yeah - I will be a dad soon ). This list is not in any particular order. One thing I found out so far is that BP is a great resource and I am online every day.

Joshua Dorkin · Answer

Thomas - 
One of the reasons that we built the Groups feature into BP is that folks are getting tired of that kind of nonsense at their local clubs (amongst other things).

Why don't you create a group for Austin, TX investors here on BP, and then you can just plan your own local meetups without the pitches/etc. ?

Thomas Muttwill · Answer

Joshua, I know what you mean and I really did not expect to get an unbiased review. I really wanted to join one of the local REIAs here and seeing names of people associated with NR showing up with them makes me hold off from this plan. But I guess the same could be said about some other programs as well.

Michael Dorgan · Answer

It's hard to find anything un-biased in MLM type organizations where every member has a vested interest in the group.

As an aside, I believe yet another way to make million is to sell 100 people a class or two for 10k.  :)

Joshua Dorkin · Answer

There have been many discussions of Nouveau Riche here on the site.  The most recent can be found at:
Nouveau Riche Interesting Review

Richard Warren · Answer

Hopefully you havenâ€™t given them any money yet.  Do a search of the forums and you should find plenty of info.  You may wish to start here:

http://www.biggerpockets.com/forums/79/topics/19185-nouveau-riche-interesting-review

:cool: