I saw a bandit sign on the side of the road in Raleigh, NC that advertised "Real Estate Mentor Seeking Apprentice 10-20k a month"
I called the number because I am looking for a mentor to learn from. I know this seemed sketchy but I keep reminding myself of those three important words "You never know".
Left a message and got a call back a week later (which was a few minutes ago). The woman said the company is Royal Empire Ventures. She liked what I said about my goals and experience (the little I have). She pretty quickly announced to me that she would email me a link for a webcam interview online tomorrow night.
They have been expanding in our area (Durham, Chapel Hill and Charlotte) and I believe are from up north originally (NY or NJ).
Before I allow myself to progress any further with them, does anyone know anything about these guys? I want to make sure its not a scam or something. Couldn't dig up too much on them outside a basic website and their FB page. I am a Realtor in Cary and am learning about real estate before I begin investing in it--just additional info for ya.
I have not come across them in the Charlotte area, but two things stand out.
1. 10-20k a month seems like a ridiculous amount so I'd imagine that it is too good to be true.
2. Any "business" that does not have a web presence in 2015 seems a little sketchy.
Again I know nothing about them, so take my opinions with a grain of salt.
Be careful and let us know what you find out.
if their local to you and can sit down across the table from you in neutral territory (restaurant etc) then I would meet and ask my question and see what they want. sounds like you are like most and need a local mentor who assists you and gets paid as a JV to your deals for x period of time. just my suggestion.
Are they the yellow signs with red lettering? They have littered the Triad with their signs too. My guess is that you will be their bird dog and will do all of their work to make a fraction of what you could make without them.
Would a real mentor use bandit signs to find a mentee? It's generally the mentee who finds the mentor over time and through personal relationships. So that's their first lie. Are you going to believe whatever else they tell you?
They have signs all over metro Atlanta.
I think you would have better luck attending an Amway meeting than working with this type of operator.
Let us know what happens.
A quick Google search turned up the following. Royal Empire Ventures is a New York City based company that has been around since 2007. They have a presence on Facebook and Twitter. The CEO is Hugh Zaretsky who is a BiggerPockets member (but not active in the last two months). He also has a YouTube channel at https://www.youtube.com/user/HughZWealth .
I actually went to an intro meeting of theirs here in NYC. It was run by Hugh Zaretsky. For more information, check out myrenatus.com and make your own conclusions. If you go to the Royal Empire Ventures website, in the first picture, you'll actually see a Renatus logo in the background. Let's just say, I was not impressed at all. They are essentially a MLM scheme (i.e. Amway) with real estate on the side. The way you can earn money is by signing up for their programs and recruiting other people to do the same. You earn the most money if you sign up for their most expensive program and get others to do the same. You earn bonuses if the people you recruited generate sales as well. I was not at all impressed with their real estate acumen and they spent at least 50% of the time talking about "getting paid to help build their business." PM me if you want more information.
Based on what Rohun says, it's worse than I thought. If you talk to them, ask them to keep their trashy signs out of my city.
Thank you all for the excellent feedback. I had my suspicions and in this day in age of scammers, it pays (saves) to be paranoid.
You all are right, they are too good to be true. I am not interested in the money (though that did raise a red scam flag). I just figured 'what the hell, I'll call even though its likely fake'.
Honestly, my best bet for a local one-on-one mentor is probably someone here on BP. I don't mind working for free to learn the business. I'm a Realtor anyway so it's not like investing would be my only income. Fast money is not attractive to me. The proper guidance and education is.
If any of you know of anyone with decent experience around this area in SFR, MFR or even flips, who is looking for a protégé, please let them know that I am looking for THEM.
I turned down the webcam interview for tonight. Royal Empire Ventures will not screw me over. I'll make sure they remove those signs too (or I will).
Thank you again, everyone!
Disclosure: It is my company
Our Royal Empire business is expanding into NC and my team has already completed 5 Fix and Flips in the Raleigh/Chapel Hill area. Our local North Carolina team is growing rapidly and we will soon be opening a full time real estate investor office in the area. I understand that real estate investing isn't for everyone. You need to have the right mindset, be willing to do work and go through our screening process in order to qualify to work with us.
For all the agents on here, understand that I have been a certified Continuing Education Instructor in NY, California, Texas and Florida. I train real estate agents/brokers, mortgage brokers and attorneys to think like real estate investors. My classes have been certified in 4 of the largest real estate investing states in the country with some of the toughest state regulation in the nation. What does that say about the quality of our training? If you really want to test your local mentors, ask them how many of them have been certified by a state board to teach real estate investing?
The pictures below is what my wife and I did and made in the first 18 days of August. We still own over 150+ units across the country and provide special financing and funding programs for our team of investors. You have the right to pick and choose who you work with but make sure you do accurate research. I would be happy to speak with you one on one to answer any questions that you may have about our business.