At their presentations, the Nouveau Riche University folks claim that they will teach you how to become financially independent by investing in real estate that provides positive cash flow-- meaning that you will get cash each month because the amount the property rents for is more than the amount of the mortgage payment and the other expenses associated with owning the property. This is a well-known and very popular method of increasing your wealth, especially because if the value of the property increases while you own it, that increase is also yours (if you sell the property). And your renters are essentially buying your house for you, since it is their money, not yours, that is going to pay the mortgage.
Nouveau Riche's database of properties that you may buy is called Investor Concierge, and you can go look at sample deals in the database by visiting InvestorConcierge.com (if you click on the "Guest" button next to the "Login" button on that page you'll be able to see some sample deals). Each of the properties is displayed on a fairly detailed page listing the price, possible financing arrangements, total amount of cash required to close the deal, and estimates of the cash flow possible.
Examination of these sheets shows some very exciting figures for the nouveau real estate investor: the "Estimated Market Value" of the property is frequently 10% or so more than the purchase price, producing instant equity ("Estimated Equity") of $20,000 or more! And the yearly positive cash flow is $2400, all for a property you buy with a cash outlay of only $12,000. Why, you've made $8,000 as soon as you close the deal, right?
Upon closer examination, the flaws in the deal begin to surface: that $2400 a year in annual pre-tax cash flow is only $200 per month, and doesn't include any maintenance or allowance for any vacancy of the property. As long as you don't have any big maintenance needs, you might possibly break even-- and all the while, you're building equity while your tenants pay the mortgage, right?
Wrong. The deal Nouveau Riche shows to you invariably is built around an interest only mortgage-- you won't build any equity at all for the first 10 years, after which your mortgage payment will jump up to a much higher amount. If the deals were structured with conventional principle and interest loans, none of these deals would have any positive cash flow at all.
"But I still have instant equity, right?" Probably not. The "Estimated Market Value" is not an appraisal, but rather just someone's guess at what the property might be worth. And if it is worth that, why isn't it being sold for that? Can you really buy these properties and immediately sell them for 10% more? I doubt it.
"Okay, but the market will go up, and I'll be rich!" If the market continues to skyrocket, it's true, you will be rich. But across the country, in nearly every housing market, this is not what is happening. The correction has begun. The real estate "bubble" will deflate, and then likely stay constant for a while. All the while you'll be paying interest only on a property that is slowly becoming worth less than your loan is for-- a loan you have to pay off if you want to sell.
After all, if these were truly good deals, why would the founders of Nouveau Riche want to train you to take advantage of them? Why not just invest in the properties themselves? The sales presentation claims that the founders made their fortune and now altruistically want to help others make theirs. If altruism is the motivation, then why charge $16,000?
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1 – 200 of 455 Newer› Newest»Thanks for putting together this website. It may be helpful for people looking further into the Nouveau Riche Opportunity. I have read everything on your website, and I have done my own due dilligence, and to my surprise, I have found the opposite results to be true!
I interviewed over 5 people that had purchased properties off the Investor Concierge themselves, and ALL of them had 30 year fixed loans, and ALL of them had positive cashflow! So I am not sure where you guessed that the loans were all interest only...
I am actually a big fan of interest only loans, which would be giving them greater cashflow, and was surprised that they all had principal and interest loans. On top of that, I looked at several properties on the Investor Concierge, and MANY of them had PDF documents proving the market value including APPRAISALS! If they didn't offer an appraisal, then they usually offered a Brokers Price Opinion of something similar. So I am not sure where you came up with your information.
You were correct about the figures not including vacancy factors or maintenance factors, but even after factoring these in conservatively, there was still positive cashflow in all the deals. One of the individuals purchased his property with no money down with a 30 year fixed loan and still had positive cashflow! These deals are looking pretty good!
You also wrote an article about Nouveau Riche University, and mentioned the products ranging from $300-$16,000. One of the individuals purchased the $300 course which gave him access to the Investor Concierge where he bought his property. The other 4 had all purchased tuition packages to attend the University. But you only talked about the marketing income, yet only 1 of them were participating in the marketing program! The other 4 were just investing in real estate using the knowledge that they learned from the college. And ALL of them were more than satisfied with their purchases!
So you didn't mention much about the fact that many of the individuals purchase the education because of the value they get for it. I am sure that some of them market, and some buy properties from the Investor Concierge. I would bet that most of them use the knowledge to pick up properties on their own to create wealth.
So in a nutshell, I read your blog, and I have found the opposite results to be true. I would encourage any readers to do their own due dilligence and talk to some people who have actually attended the college and know what they are talking about. To think that I might have actually believed what was written on this blog!
Hopefully my comments will help some people out who are doing their own due dilligence...
I hope you'll have some more posts up soon!
I heard they have people working hard at the "university" (huh?) to respond to all the scam comments & bad reviews you find online!
It is a scam, help people right. lets write up some bogus repairs on the property. lets steal the property from the bank and try to resell it at a higher price. NRU has no special connection to REO sales like they want you to believe. I love the buy wholesale aspect. what the heck is wholesale when it comes to RE?. I bet NRU promises to have a bunch of renters just waiting to rent you POS. $15k learned the hard way. save your $.!JMHO
Thank you for breaking it down really well. I appreciate the time you took to post this.
Where is the rebuttal by author of "The Investor Concierge Deals"? He/She has been severely corrected by 'anonymous' who has clearly set things straight, using info from 5 participants of the concierge.
Every one that is there every week present different numbers one day someone makes 1,000,000 a year and claims to do nothing all day just walk with pijamas all day and closing 800,000 deals all day long!! impresive. Well just to be in the save side before I give my 16,000 I have given his name to my sister in law which happens to be an IRS Auditor she will research to see if he actually pay the taxes accordingly and do some due dilligence by investigating the records of this person or anyone else involve claiming to be millionaries. By the sound of her voice Most likely and probably on next Wednesday presentation she will be ariving at the Hilton incognito to hear this person from NRU.
Many claim to have done from 40 to 80 short deals in their pipeline but when I let them know about properties availables for the deals they avoid the conversation and focus only on how you can get your student loan so they can get their 50% commission, from it. If they really would like to help they would train and go over the deals instead of using the leverage of the students loans to put people on more debt and more struggles.
This does not make any sense. Less talking more action behind their words.
good luck B..l,on Wednesday.
Definitely a scam. Read on...
I just came back from an "informational" meeting yesterday (June 27, 2007) at the Blue Lagoon Hilton in Miami.
The first indicator that I was being had was the number of cars in the hotel lot with "Make 10k a month-ask me how." signs
The next indicator was the registration desk. They insisted that I tell them who "invited me." I obliged and got a name tag with my name and my host's name (in small caps) underneath mine. (Why was this so important? Read on)
I sat down and heard the most predictable cliches about being rich and working to get the vacation or the fancy car (with slide show to match). For example: "Do something new. Did you know that the definition of insanity is doing the same thing over and over again expecting different results? {crowd goes wild in head nodding here}.
The speaker went on to illustrate the return on money invested. Glossing over the details of vacancy costs. Crowd was hypnotized.
Apparently the lower henchmen were not allowed to interrupt the speaker since they were told to hold questions until the end. Yet the higher ups constantly interrupted the speaker with "Oh, I just got another message, that was another deal." Speaker asked... "How many is that? 40 with no money of your own. WOW." The higher up responded saracstically, "No, in this one I had to spend $150 for a locksmith to change the lock." {crowd went wild again}
20 minutes into the presentation the kryptonite was introduced... a full set of educational programs. I WALKED OUT on the spot. (Here is were the NR followers will say, " But you did not stay for the entire program. How can you judge it?" )Keep reading...
As I was walking out I sent a polite text message to "my host," who happened to be in the meeting, thanking him for the opportunity. After several text exchanges he offered to split his commission with me if I were to bring him any people who were interested in "making tremendous amounts of money" He gets 8k per inductee. He would share half of that for just my referrals. That's how you make 10k a month-not through real estate.
Reader instead of parting with your 16k for this joint please pay down your credit cards or invest in a true education. These jokers do not want to help you nor do they need investors. For help go to church or temple or friends. For investment money go to a bank. If they don't lend you any its for a reason.. ask them.
Tell the truth... if you were making $10,000 a month would you honestly share your secret? No. I don't see any of the Forbes richest starting a "University" to teach you their ways. And you definitely won't see Warren Buffet with "Make 10k a month-ask me how." sign on his 2001 Lincoln Town Car.
MLM scam - just another in a long line of them.
Google MLM scam for eye opening sites such as Amway (www.merchantsofdeception.com) and Mary Kaye (www.pinktruth.net) and the big fat scam of Herbalife.
Anon number 1 and J - how long have you been milking people using this Nouveau Riche scam?
There is nothing but integrity & ethics in the people who are in Nouveau Riche, their instructors and the founders. There is no scam here. They have an ACE college credit recommendation. If you want to get a quality education from knowledgeable real estate investors who are full time investors, this is the place. If you want to be an engineer, you go to school to become an engineer. If you want to become a pyhsician, you go to the school that will teach you about being a dr. If you want to be a real estate investor, it is an excellent idea to go to the proper school. Proper real estate investing is not done by going to a boot camp for 4 days and then be left on your own to do your own deals.
This company also allows us, its students, to market the school and make a commission off of it to help fund our investments. There is nothing wrong with that. If you want to change your financial future, this is a great way. This company is a direct sales company, it is not a MLM. It sales education packages. That is it.
The Investor Concierge is a franchise, so if anything is out of line with their process, then they will be shut down. They are regulated. They are in place to help new investors, like me, to get into properties with a positive cash flow. They buy properties from builders who need to close out their homes so they can start on new projects and they buy them at a discount because they buy multiple houses at a time. Same with the REO's. You can buy RE wholesale. Why don't you come to the school and find out how?!
Unfortunately, some people still think inside the box. Nouveau Riche and the people who are affiliated with it think outside the box. We want to make a change in our lives instead of making excuses!
Hope this helps to answer questions. Please do your due diligence and do not believe everything you hear. This is a top notch company and it changes peoples lives as long as they are willing to put in some work...
Everybody who thinks this is a scam has no idea what they are talking about. Before you judge do the reseach instead of believing someone else. Nouveau Riche and its sudsidiaries are highly scrutinized by different
government agencies to make sure they are doing everything legal. Is thier any member that has joined Nouveau Riche claim that it is a scam? NO. Can you really over the long run go wrong in real estate? NO. If you can't afford it don't buy it. That's where a lot of home buyers are getting in trouble. Are you saying that all those fix and flippers in CA. at the hieght of the real estate boom were ripping people off? How do you steal a house from a bank? You think that banks are dumb enough to give away money? I bet you think keeping money in the bank is going to make you rich. The richest people in our country for years has written books about how they have achieved thier riches and one fundimental is common. They all own real estate as a big part of thier portfolio's. So quit putting down what you don't understand, you only get as much as what you put into it.
To frank said...Please answer/read the following questions/comments
"Nouveau Riche and its sudsidiaries are highly scrutinized by different
government agencies to make sure they are doing everything legal."-->> Please mention by specific name the agencies who scrutinize this operation.
"Is thier (sp) any member that has joined Nouveau Riche claim that it is a scam? NO." >> Because they just dished out $16k and no one wants to tell the emperor the truth about his clothes.
Can you really over the long run go wrong in real estate? NO. -->> Well... not in the stock market either.
In essence... I'm ok with NR teaching or allowing you to invest, but when you combine both that's when truble begins. It is just that the marketing of the program is being done in a very misleading way. Either advertise and educational opportunity (regardless how pricey) or an investment opportunity (regardless how ill timed) but don't entice with the riches to sell the ed.
Anonymous in Miami
In response to Anonymous In Miami, Don't you have to get some quote education to become a realtor? Isn't a good idea to "study" or get some education before you jump into the stock market? Well the same goes for Real Estate. All those people that got burned by getting subprime mortgages probably wish they got the education NRU has. It's worth more than the price they would have paid and have paid.
Every MLM has had large number of people say they were taken. they didn't seem ashamed to admit it after being in them for years and spending thousands so why would you think anybody would be ashamed in NRU. The fact is there isn't any dissatisfied member. Real Estate gives you a lot safer and greater return than the stock market. NRU doesn't solicit itself as an investment. I don't know where you got that.
NRU has to follow the same guidelines as any university in the country to hopefully get it's accreditation.
I am thinking about investing in the home study...I have been reading a lot of blogs...I gotta tell you...I have never invested in something this expensive that had soo much "fuss" around it...it really doesn't leave a person with a good taste in their mouth...its kinda like being on a first date with a beautiful woman...then you find out she isn't a woman, he has herpes, and you have to pay for the dinner.
Well said.
The great thing about blogs are they are only opinions and it gets people to think. In the long run it's a good thing.
I wish everyone well!
I just wanted to address a few comments by an above poster.
NRU is not accredited by any sort of certifying board of education.
NRU has "recommendation" status from ACE, meaning if you decided to transfer to a real university, the ACE recommends that the real university regnizes some of the classes taught by the fake "University" for credit. They're under no obligation to do so, and I doubt they would.
To see what accreditation for a real University in Arizona looks like, check it out here:
http://www.asu.edu/aad/catalogs/2003-2004/personnel/accreditation.html#academic-affiliation-and-membership
The funniest thing: after going through "school" at NRU, you don't even qualify to get your real estate license.
Go here and you can see a list of Arizona schools that are licensed by the state to teach actual real estate classes:
http://159.87.254.2/publicdatabase/SearchSchools.aspx?mode=3
NRU isn't one of them.
Congratulations - you were scammed out of $16,000. At least cut your loses and stop recommending other people do the same.
well i'm glad i did my due diligence and found this website before I got scammed. sorry to all those who did. all the postings here saying nru is a scam seem to accurately describe my first (and only) experience with this group. for those of you involved, shame on you for your greed and profit and the expense of those who probably need their money a lot more than you. for those not, save your 16k, or even your $300. instead spend it on the following books: 'rich dad, poor dad'- scratches the surface of the thinking rich philosophy, 'cashflow quadrant' and 'rich dad's guide to investing' - two followups to rich dad poor dad, 'adventure capitalist' - inspiration story of a successful investors trip around the world, 'the art of the deal' - donald trumps book on ultra real estate deals for you dreamers but another inspirational and educational read, 'think rich grow rich' (i think thats what it's called, it's by ford) - i haven't read this one but heard good things - going back to the rich dad series there are lots more that may be more specific to your goals such as dolf de roos' guide to investing in real estate. These books will get you well on your way to a real estate education. Cost: approx. $75 If you want to splurge, take a class from one of the colleges mentioned in that post above. That might run you a couple hundred. Good Luck.
This has got to be one of the most ingenious scams I have ever seen. I definitely give them credit for their timing. However, this will blow up in extraordinary fashion. I only wish this Company was a publicly traded stock so I could mortgage my house and sell this pig short.
I am still eriously considering NRU just because I learn from books, but even better from real life experiences. Where else am I going to get real life experiences of how to be a real estate investor. Books don/t give you that. I have read most of Robert kyosaki or however you spell it and unlike that other guy I was not that impressed. Someone show me another way to invest in real estate without going to this school. I mean actually show me how. NRU claims to teach exactly that. I am just curious. I would appreciate your replies. I have read other blogs full of good things from those who are already with NRU. I am just a little confused is all. Thanks ericjensen50@hotmail.com
I recently became a ISA to just get my foot in the door and to make myself attend briefings and my own due dilligence before subscribing to the University or Homestudy Program. I by no means try to pressure anyone to subscribe on any level. I do invite my friends to briefings an/or other events because I feel the tidbits of information will open their minds to the 'possibility' of becoming Real Estate Investors and earning passive income. At 61, my pension is not enough to sustain me and forget about Social Security. What NRU offers is an ongoing program to introduce, educate and support its members. I am experiencing that at the $75 level. We are living in a new age, and if you read Rich Dad Poor Dad, Kiyosaki himself stresses education and attends as many seminars as he possibly can. Why? Because you may learn one little piece of information that can save you thousands of dollars on your tax returns.
If you are afraid to do this business you will never know what you could make. out side opinions don't count if I listened to everyone that told me something bad about a busyness I would be to afraid to join any of them. You people are so smart I suppose you are smarter than the brokers and doctors and lawyer's who are joining and doing well, negative people will always be poor.the loan is defered for 4 years if you borow it.this is not a scam but you are.You can never go wrong investing on land or property.
I want to hear about their education program. Nuff said about the opportunity of selling the education package; that "opportunity" should not even be offered and is what gives everything a suspicious taste.
We know that the "briefings" are all BS.
I'd like to hear from someone who has actually taken the course and learned something he/she would have not picked up in the street or from uncle Charlie, that helped him/her in closing a deal with a positive or negative result.
So far there are positive and negative posts; the negative coming from people who went to a briefing, didn't join and became skeptical. The positive seem to come from people who just shelled out their hard earned money and are still hopeful, warm and fuzzy.
I hope we hear from someone who actually took the courses and did all the hard work and succeeded or, from someone who died trying.
If you have $16,000, use it as a down payment on property. If you can even quality for a loan in the wake of the sub-prime crisis.
Don't hand it over to a multi-level marketing organization, with half of it going to the person who sponsored you. Especially a company that stands to profit directly from your purchase.
Or invest the money to become a realtor, from an accredited school.
Nice article on the convicted criminal founder of NRU on Forbes' Small Business website.
Read the latest Forbes Small Business article on Nouveau Riche University.
http://money.cnn.com/2007/08/06/magazines/fsb/real_estate.fsb/index.htm?postversion=2007080816
Seems the founder is a felon who also declared bankruptcy. Nice credentials...
Wow, I'm amazed every day at the length and breadth of the actions of individuals who won't take any action, rely on others hearsay and then complain that they don't have anything in life. (I think it's because people are inherently lazy and look for any reason possible NOT to take action)
I am an ISA for NRU, I've done my certification in all 5 product lines so I CAN make commissions selling NRU tuition.
I've made 20K to date marketing NRU.
NRU is NOT MLM, I've done MLM. As much as it LOOKS like it's MLM, it's not. Believe what you want.
With that said, there is an aspect of network marketing. (While I was certifying, my Mentor made money from my sales, Now that I'm certified, there is NO money that flows to my mentor or his mentor, so it's NOT MLM whatever you may think.)
Enough about the marketing... it's OPTIONAL... don't like the aspect of sharing something good with others... then don't! Sheesh. I do it to raise more capital to buy more property! And EVERYONE who has been to college with me LOVES it and they thank me often for the introduction.
On to the education. I've BEEN to all those other seminars (Trump, Robert Allen, Chief Denney). I DIDN'T buy property from what they taught.
I own a mortgage company, I don't have to use NRU's Mortgage. It's convenient.
I'm capable of finding my own deals, I don't have to buy from the Investor Concierge, it's an offering. Buy it if it fits, pass if it doesn't
I've been to 11 days at the college now, I've NEVER seen this quality of education, this level of commitment to my success. EVER.
NOTHING else is sold at the college, no more tapes, no OTHER classes, NO UPSELLS! Find that somewhere else!
I read the article from CNN. The gal they interviewed is THRILLED, no matter what they say about her POTENTIAL situation. DUH, do your diligence, buy your property right, sell it when it's appropriate.
Here is my advice. NEVER take advice from someone who hasn't experienced the education themselves. I've seen lots of negative opinions about the NRU college, but haven't met/heard from ONE person who went TO the college and didn't get more then they paid for.
I'll save 25K or more on my taxes this year from what I've learned at the college and I was a licensed securities agent for 9 years, I KNEW stuff. It's real, and man if you don't go you'll miss out.
Go to the college, if you do all the training, you'll set yourself up as best as I've ever seen to be able to buy real estate. And then, maybe, just maybe you'll have a chance to retire with dignity.
I'm currently putting together a company to raise capital to purchase and flip 20-40 properties a month. The entity structuring, capital contributions and tax advantages are a new things that I learned from NRU. This wasn't something I could have done prior to attending the university.
Mark
I feel obligated to leave my [2] cents in this bucket. I am an Aerospace Engineering Student and I just returned from my first [5] days of NRU education. I wish that the "accredited" schools of highest education would teach us something that has practical relevance. NRU has done just that, I sat with a friend the other night and helped him setup an entity to save more on his tax return then I paid for the entire education. Maybe some of you naysayers who say...accredited, accredited, accredited...will hear this from someone who is a student in a top 10 program in the WORLD for ASE. I learned more real world useful ideas and strategies to be successful in one week then I have learned in over [6] years of traditional[archaic] university education. The only real "problem" I have with NRU is that they don't teach you how to accept the corporate hierarchy without complaint and sit in a cubicle and work your life away to pad some executive's son's trust fund so he can manage my son in the workplace in 30 years, and give him [2] days sick leave and [5] days vacation per year. Those who dream the lofty dreams of working 50 hours a week for someone who uses them to do this...need not apply...or be opinionated about those who know that there is a better way.
Nate
WOW, NOW I AM TRULY CONFUSED! I HAVE BEEN A REALTOR FOR OVER 20 YEARS WENT TO A MEETING AND ALMOST SIGNED UP. I THOUGHT FOR A MOMENT AND THOUGHT IT BEST TO RESEARCH A LITTLE MORE.......AT THIS POINT IT'S FIFTY-FIFTY.
SOMEONE GIVE ANY OF US WHO ARE UNDECIDED A FIRM ANSWER, DOES IT REALLY WORK AND HOW LONG DID IT TAKE YOU TO START SEEING $$$$$?
They've all been put under a spell and are part of a cult. At least that's what my dear friends act like. They now keep a distance from me because I'm not part of it. Not because I think it's a scam but I am very content with life being semi-retired in Hawaii. It's too bad NRU had to take advantage of some of the most open & giving people. Many born & raised here are very inexperienced with scams. They are naive in some ways. Unfortunately they've seen the housing market in Hawaii go crazy & everyone making money. So with NRU's trained speakers or should I say motivational speakers, they are able to captivate the audience and REALLY make you believe that you can do this if not you're not trying hard enough. (this also came around when "The Secret" was big with my friends. Hmmmm was that NRU's Secret?) Anyways I just wanted to say what I said & I really want the best for my friends. I will be there when they need me. As far as NRU it's ashame that you came to the Hawaiian Islands & take from those who don't have much(meaning materials & $$$) Hasn't this country & the western world done enough?
"Ua Mau ke Ea o ka Aina i ka Pono" (translated directly as: The life of the land is perpetuated in righteousness).
Aloha!
The name is hilarious. It's basically an insult, referring to those "new rich" who flaunt themselves garishly and without class. Is that really the image this "scam-school" wants to project. Christ people can be dumb.
Anyone who posts a positive comment is clearly a shill for the poorly constructed scam oriented entity that is Nouveau Riche.
Nobody on any blog, anywhere, has ever posted any verfiable information about success stories.
It's all hearsay. Why wouldn't it be..the ..ahem.. "university" has only been in existence since 2005.
Yet somehow, unbelievably, there is all this grand success to speak of.
I do believe that some Nouveau Richer's have acquired substantial real estate portfolios...so what?!?
There have been plenty of real estate portfolios that at different times in the history of the U.S. Housing Market have become completely worthless. This is clearly one of those times, especially considering the time constrained subsidies that Nouveau Riche demands of it's sellers.
I have offered to pay for a financial audit of 5 NVR success stories, to validate their claims.. 1 year later no takers.
IF the success is legitimate NVR should welcome this avenue towards authenticity. Not even the ISA's I have met with will subject themselves to it.
Hmmm.. wonder why?
It is time to put your money where your mouth is.
You hit the nail on the head! I was actually involved in providing the properties to the Investor Concierge and you would not believe how "average" these deals are! I recently ran the numbers on one of their deals and came up with the investor receiving approx. 8-10% "off"...at the same time I am offering my investors 25% off on the same property! Where is the rest of the money going? Or are they really that bad at negotiating? Either way, where is the value in NR?
Wow, what interesting Blogs! I am a student of Nouveau Riche and I personally have not met one person myself whom has a negative about the college.
First of all I would like to say to the person whom is selling properties at 25% off, and NRU is discounting them for only 10 to 15% below market value on ONE particular property.
The difference is to compensate for the loan restrictions placed on investors this year, it is harder for anyone, not just NRU students/investors to cash flow. The lenders want more money down, higher fica's and higher rates. Taking this into consideration, our current national market conditions, the risk of "what may happen in the future", any investor knows Real Estate generally is less riskier than the stock market. RME, (NRU affilate) takes that extra percentage and gives it to the buyers in various ways, i.e. HOA fees paid for 1 or 2 years, interest rate buydowns, whatever creative and legal ways to help the investors cash flow.
It's great that you can sell properties for 25% below market value, especially if they are primary residents! Investors need to cash flow for the buy and hold strategy.
For the person whom wants to audit the sucessful students/investors of NRU, it's so easy, just go to one of the local briefings, or Free Intensive Workshops, you will find hundreds of us!! We want to tell everyone our success stories! Or better yet, if you can, take a trip to Phoenix between December 10th to the 15th and hang out in the lobbies, bars, pools, etc....and just easedrop. You will be surprised.
NRU is about the education, not the marketing. The marketing is only a perk if you want to do it or not. It helps us make extra cash to invest. Some students make it their career, which is great, some of us prefer to just invest using the strategies taught at the college. Not everyone is into sales.
Truly it is not an MLM, it is Direct Sales. People get confused because the first people you refer that join, the sales credit goes to the person whom brought you in. That is the ONLY similiarity to an MLM.
Once you have referred, I think it is like 3 to 5 people, not sure, you become certified. Just like any other sales job, you have to learn the product and services before you can sell it. Insurance companies use the same technique.
After the quick certification process, all referral sales belong to you, period. That is where it differs from an MLM. There is nothing wrong with referring someone to NRU and making money, it is a win-win.
The people who are marketing NRU are all individual, Independent Contractors recieving a 1099. So some of them get carried away with marketing aspect of NRU and lose sight of the True Benefit which is the Educational Value, first and foremost.
As for the person who asked about someone who has gone to the college, I will tell you firsthand my experience.
I started going in December of 06, I was completely blown away. It truly is an awesome experience.
I am also a Realtor, and thought, OK, what are they going to teach me that I don't already know? I joined for the level 400 classes, thinking, yeah, I could learn some more strategies.
I have to tell you, I still to this day go back and watch the online classes of those classes to gain more insight, you always pick up something you missed.
I am working on two different aquisition stratgies, and have acquired one property at the moment.
We took money out of our IRA put it into a self directed IRA, and transferred the funds into an LLC. We plan on buying 4 different properties to leverage the banks money to creat more wealth in Real Estate.
That same 100k today, even if we made 20% a year, would not be enough for us to retire on in 15 yrs. However, once we own & cash flow 4 different properties totalling 1 million dollars by years end, what do you think our Self Directed Retirement Plan will be worth in 15 years, based on $1,000,0000? With an initial $100,000.?
I also love the fact that I can personally call or email my instructors and they get back to me within a reasonable amount of time? What other Real Estate Investor Education Program does that? Our Instructors are not teachers. They are very sucessful investors whom teach us their strategies that they themselves are doing today. Not what someone wrote 10 years ago.
Bottom line is if you are even considering investing in Real Estate, Nouveau Riche is the best program out there. No-one has bothered to mention the fact that the tuition is for 2 years, and you can bring a business partner, friend, spouse, etc... for free. This is never been done before.
So if you are just fixated on the cost, instead of the investment in yourself, look at it this way. 20k for two years, 10k a year or 5k EACH a year and if done correctly, you can write it off on your taxes as a new business startup. Ask your accountant.
I know some of you are going to ask what is taking me so long, well
I myself, got caught up in the marketing aspect. I was marketing the marketing and took the courses at the college, but put that information aside to market the marketing. Dumb move. I don't suggest anyone to do that.
Smart move, put into action what you are learning at the college first, after you achieve sucess, then people will come to you and ask you what you are doing, at that point you can refer them to the college.
If you are the type of person, whom can pick up a book, DVD, C/D or go to a seminar or boot camp, then be on your own, then God Bless You.
There are so many like me that need guidance, someone to hold their hand, be able to connect with people, all over the U.S., gain motivation to actually take action and become part of an awesome community with over 10,000 like minded investors, then Nouveau Riche University is a really smart choice.
What you see is what you get, there is no upselling going on at the college, the only thing you can buy is some NRU shirts, jackets, pens, and things of that nature.
One more note here, Real Market Experts is the franchise that owns the Investor Concierge for which Nouveau Riche University Students can literally click a mouse and buy a house with or without Instant Equity and Positive cashflow. There are many to choose from, just depends on what your strategy and goals are. Since they are a franchise, they are regulated and subject to audits by the SEC and the FTC. If the SEC and the FTC has not had any compliant issues with the Investor Concierge, I think you can feel relatively safe that this is not a scam, as so many people love to voice their opinions on subjects that they know little or nothing about.
Instead of spending 16,000.00 + (airfare + hotel x3) to maybe get 7 hours of college credit, and for the privelege of continuing to give your money to the ethically challenged why not use that money to invest in property now! Or better yet, pool your 16,000 with a friend and go in on an investment property together. And if you feel you don't know enough to be successul at such an investment, Have no fear!
For 15.00 at Amazon, Trumps book Real Estate 101, will teach you to...
* Develop the entrepreneurial skills to succeed in real estate investing
* Make money in any market at any time
* Convert properties for new uses and make more money
* Create instant equity in any property
* Determine how financing will affect the cash flow and value of your property
* Use options and assignments to buy and sell properties you don't own
* Assess the value of similar properties by comparing and analyzing multiple features
* And much more!
and for the person who said that Investor Concierge is regulated and therefore couldn't be a scam.... clearly you've never worked directly with regulatory agencies... but please by all means, continue to believe your brand of B.S. and act as a shill for the company, you will all fall hard when the ivory tower crumbles.
Nouveau Riche isn't an accredited university because education isn't their goal. It isn't a difficult process, I taught at a post secondary school in California, but it does require that EDUCATION be your focus.
ACE recommendation is utter nonsense. They are a lobbying group, period. Go to their web site and see if you can find Nouveau Riche..the aren't listed as even being affiliated.
http://www.acenet.edu//AM/Template.cfm?Section=Home
CORRECTION:
Nouveau Riche IS listed on the ACE website.
So the poster who suggested that 16,000 was quite a bit to MAYBE get 7 hours of credit, was accurate.
However, recommendation is still a far cry from accredited - and getting accredidaion isn't that difficult., should educating people be your primary goal, rather vs. settting them up to take as much money from them as possible.
I have looked at this opportunity and I am trying to make up my mind. I am performing my due diligence. The concept makes sense and does not seem difficult.
Of course you will have people for or against. I attended the Rich Dad Poor Dad Real Estate course. The course taught many real estate methods such as short sales, wholesaling, foreclosures, etc. But the course did not get into how to successfully perform the methods taught. In order to learn those methods you had to pay the discounted priced of $10,000 right there or $16,000 if you left the training. And that was for one course. Each additional course costs $10,000++.
I read a commment that someone posted stating that attending NRU does not give you a real estate license. When I attended Rich Dad Poor Dad they recommended not getting a real estate license. They stated there is a difference between a real estate investor and a real estate agent. The investor does not need a license. If you acquire your license then you must identify yourself as a realtor when looking at a house for investment purposes. So, there is a big difference between a realtor and investor.
Also, someone stated that NR was not on the ACE website. So, I did my due diligence and looked on the website and this is what I found.
http://www.acenet.edu/AM/Template.cfm?Section=College_Services&Template=/CM/HTMLDisplay.cfm&ContentID=6034#N
Like I said, I am looking at this for myself. I have not made a decision either way. I can say there are things that NR has stated which are true as per my experience with the Rich Dad Poor Dad training.
Carlos,
ACE is not affiliated with the Department of Education... THEY ARE A LOBBYING GROUP! DO you understand that affilition with ACE means? NOTHING.NADA.ZILCH.
You also gave yourself away as a shill for NRU. THe model for your letter is all over the internet.
THe use of the ridiculous word "due dilligence" is another clue. EVERY ISA I have spoken too repeats this phrase Ad-Naseum.
If you all are so enthralled wiht the concept of Due Dilligence. How about a legal team and a group of auditors doing the same for NRU's finances. Since they are completely on the up and up and are such good hearted folks surely they will bypass the argument that they don't have to legally as a private entity, but will instead do it to show they have nothin to hide.
I mean come on...all the evidence is anecdotal by word of mouth. there isn't proof anywhere. Only peole sayng "don't you believe i'm rich?!?!"
Don't become a licensed realtor? Of course not! You might get access to "hot sheets" the same place NRU get's their "before market" properties. You also might develop contacts in the MORTGAGE INDUSTRY, thereby allowing you to develop creative financing all on your own.
It is much better to be lazy and "buy a house - Click a mouse"
which is actually a very devious ploy to get students to focus more on the easiest part "gathering the herd" because that at least won't cause them to stress out trying to leverage equity to obtain more financing. Lazy once again is good as recruiting in and of itself just involves you transmitting - like a virus - the same rote nonsense that you were taught.
Well guys. I'm doing it. My loan should be comming soon, and I'll let you guys know how school and my marketing goes.
Anonymous,
It is such a shame to hear so many negative comments and opinions about NRU or any thing in life. People with such negative thoughts will never find wealth, good health or peace in their lives.
All these negative people should read the book called "The Secret" by Rhonda Byrne. This book has helped change thousands upon thousands of negative and unhappy people who think life is such a scam.
Read the book and see how much more life has to offer.
"If you have nothing good to say, then don't say anything"
I had the pleasure of attending one of the "informational seminars" recently. If someone can't see within 5 minutes of the presentation that this is a total scam, then they deserve to lose the $19,500 (that's the real price $16,000+$3500 for books).
If I were to cover all of the B.S. that was given in the 1.5 hours spent, this would be five pages.
Let me give a couple highlights: Every typical seminar cliché was used. "Do you want financial freedom? Do you want a nice house and nice cars? Do you want to have more time to spend more time with your family? Then this is the opportunity for you!!!" Please.
The first 15 minutes is spent on telling you how debt in America is destroying this country and no one has enough money for retirement. NR's solution? Give THEM $19,500 and go further into to debt! Brilliant!
They then spend several minutes telling you how they are not like the other "gurus" who constantly upsell you to make them more money. They tell you that NR is so different. Only later do you find out that they have devised numerous other ways to get in your pockets: You can use their accountants, mortgage brokers, credit fixers, lawyers and many more. And on top of that, if you actually do buy any property, they are brokering the deal! More money for them!
But here's where I really lost it. This so called “Investor Concierge” where THEY tell you what the property is worth, the equity etc. I am an active real estate broker. In this market especially, no one knows the real value of a house. In my area alone, we are averaging 25 new listings a day to only 5 sales and 30-40 price reductions! You expect me to believe that NR knows the correct market value of a home in an area they know nothing about? But here was the kicker. The presenter had the nerve to say that these investments were "bullet proof". If he was regulated by the SEC, he would lose his license on the spot. The closest thing to a bullet proof investment is a 3 month T-Bill issued by the U.S. govt., certainly not a 2 bedroom house in Little Rock, Arkansas.
You quickly learn that becoming a real estate investor is just the bait. What you really are learning is the newest version of MLM that they like to call “Direct Marketing”. 5 individuals came up at the end to tell how this has changed their life. Not one of them said they have made a penny from real estate; it was all about bringing in other people.
I know someone who got suckered into the scam who is now passing out flyers telling others how he’s fired his boss and doubled his income and how you can too. The only problem is that his boss fired him and the only thing he’s doubled is his debt. Now he wants you to help him get out of it.
Maybe we should send copies of "The Secret" to all the poor nations. All the unfortunate people living in Africa with starving, diseased & dying children.
IF THEY JUST MANIFEST WHAT THEY WANT MAYBE FOOD WILL APPEAR RIGHT IN FRONT OF THEM. Give me a friggin break!!!! What's your answer for all the children who come into this world with a disability & need 24 hr care? Was it the mother, the father, or the child themselves that brought that upon them? SCREW YOU! It makes me so sad that it sets people up for false realities. Sure I believe in being around a positive enviroment & avoiding the negative but we live in a selfish society & the most spoiled country in the world, so of course we believe everything we read or see on TV. All I really want to say is sure it does work, I have everything I could want right now living my life semi retired in Hawaii with my family. That's how we got here, but I knew how to do it way before "The Secret" came out. DON'T BLAME YOURSELF IF IT DOESN'T WORK OUT! You were just meant for a different path LEARN FROM YOUR MISTAKES! EDUCATE YOURSELF! If you can make the best out of a situation MORE POWER TO YOU! It takes a lot more than just thinking about it. You HAVE to WORK for it!
Funny how people I know involve in NRU are BIG believers of "The Secret"
I did my "due diligence" and I have found many Nouveau Riche claims to be bordering on fraud, but we all know how fuzzy borders can be...
College Accredited by ACE - NOT TRUE - in fact I went to ACE and had trouble finding them until I did just the main search in the top right corner. I found them in corporate seminars, (http://www.acenet.edu/AM/Template.cfm?Section=Search&template=/CM/HTMLDisplay.cfm&ContentID=20597) and in fact they have seven courses that are eligible for college credit - ALTHOUGH - ACE does not ACCREDIT! (email quote from today - "The American Council on Education does not accredit institutions of higher education. Nouveau Riche University is not currently an institutional member of ACE. If you are looking to receive credit for courses you have taken, please contact our Credit Recommendation Service at (202) 939-9434 or credit@ace.nche.edu
Please feel free to contact me should you have additional questions regarding membership.
Regards,
Kristin Witters
Membership Associate)
The other portion of the CREDIT,not ACCREDIDATION is the number of hours needed to receive college credit...
Here are the courses:
**********************
Buy and Hold Strategies and Tools (Building Your Team, Buy and Hold 1, Buy and Hold 2/Landlording, Creative Acquisitions, Lease Options, Managing Property Managers, Master Leases, Subject To)
ACE Transcript Data: NORI-0003
Organization: Nouveau Riche Corporation
Location: Arizona, Utah, California, Colorado, Georgia.
Length: 45 hours.
**********************
Liens, Foreclosure, Joint Venture and Wholesaling Strategies (Building Your Team, Business Financial Management, Buy and Hold I, Creative Acquisitions, Foreclosures, IRA and Retirement Plan Investing, Joint Ventures, Mechanic's Liens & Bankruptcies, Tax Lien Certificates, Wholesaling).
ACE Transcript Data: NORI-0004
Organization: Nouveau Riche Corporation
Location: Arizona, Utah, California, Colorado, Georgia.
Length: 57 hours.
**********************
Multi-Family Strategy (Building Your Team, Business Financial Management, Buy and Hold II/Landlording, Computer Property Analysis, Managing Property Managers, Multi-Family Dwellings)
ACE Transcript Data: NORI-0005
Organization: Nouveau Riche Corporation
Location: Arizona, Utah, California, Colorado, Georgia.
Length: 40.5 hours.
**********************
Real Estate Foundations A (Real Estate 101, Creative Financing, Establishing Your Business Vision, Legal Strategies, Market Analysis, Negotiations, Tax Strategies, Understanding Mortgages)
ACE Transcript Data: NORI-0001
Organization: Nouveau Riche Corporation
Location: Arizona, Utah, California, Colorado, Georgia.
Length: 60 hours.
**********************
Real Estate Foundations B (Real Estate 101, Buy and Hold I, Creative Acquisitions, Creative Financing, Establishing Your Business Vision, Legal Strategies, Market Analysis, Negotiations, Tax Strategies, Understanding Mortgages)
ACE Transcript Data: NORI-0002
Organization: Nouveau Riche Corporation
Location: Arizona, Utah, California, Colorado, Georgia.
Length: 72 hours.
**********************
Rehabbing and Fix/Flip Strategies (Building Your Team, Buy and Hold II/Landlording, Fix and Flip, Lease Options, Managing Property Managers, Rehabbing, Wholesaling).
ACE Transcript Data: NORI-0006
Organization: Nouveau Riche Corporation
Location: Arizona, Utah, California, Colorado, Georgia.
Length: 43.5 hours.
**********************
Short Sales Strategy (Fix & Flip, Foreclosures, Lease Options, Mechanics Liens & Bankruptcies, Rehabbing, Short Sales, Wholesaling)
ACE Transcript Data: NORI-0007
Organization: Nouveau Riche Corporation
Location: Arizona, Utah, California, Colorado, Georgia.
Length: 57 hours.
**********************
**********************
**********************
Each of these classes seems to be longer than the 5 days in sunny Glendale Arizona,so I'm wondering how you take multiple classes in a week.
BUT, I'm not interested in college credit.
What I am interested in, is not being lied to.
Seems the "NOT AN MLM, but it can make you nouveau riche like me" sales pitch isn't sticking with me, and I was all in before I began my research.
The other "truth is stranger than truth" moment was observing the Investor Concierge Guest Login for a few days. Seems the LATEST 20 PENDING and LAST 20 SOLD lists never change! TOO BAD, because these are like totally stellar deals.
I did ask to see the real deals in the office, and the head mucky muck for the area had to look up her password.
Seems like, if it were such a good thing, she would be on it everyday... or maybe that was another "really good deal" demo.
The third damning thing was the idea "that you could get a student loan from Chase" which was later refined to be, that you could get a student loan and register as an online student at a community college (for eligibility as a student - Wahhhhhh? NRU doesn't count) and use that to purchase the course, and fund your first deal. As long as you were enrolled at the community college, you wouldn't have to pay back the student loan for 4 years. WOO HOO!
Anyway, I'm probably out. Probably... glutton for getting angry at the hard seller.
Class dunce... or not!
.
i have considering nru and want to hear a rebuttle against the whole idea of the financial aid part if nru is able to be used as a continued education program? meaning can i receive financial aid and it be used under the guidelines sent up by the govt.
I found out about NRU at a career fair for military veterans retiring or separating from the service. I am neither an optimist nor a defeatist.
I have read the majority of the posts in this blog, and I would liie to inject some common sense for the most part I have seen those folks that have posted how good NRU is and others that have said that NRU is a scam!
I want to interject some common sense into this entire blog, first and foremost sustained weatlh is not something that happens overnight. Those few folks that are in the NRU program that have made a significant amount of money are in the the 1 -5% who were lucky. In my experience be it real estate stocks or any other investment opportunity selling millions in less than 24 months there is always a catch, I'll say it again there is always a catch. This is the trap of our capitolistic society. I'm not saying real estate is not a sustainable investment of course it is. However, from what I have seen from NRU there are many things going on unseen which leaves a bad taste in my mouth.
It's not about being negative but I cant allow myself to believe that in this world where people are driven by greed manipulation and fear that any organization is truly interested in helping others to become wealthy without getting/doing for themselves first. Like, one blogger wrote before if the real estate information were so solid and so foolproof why charge $16,000 why not a flat fee of $500 and let the economy of scale ensure your sustained long term profit.
Or Here is the real kicker for me. When I viewed the complimentary DVD I read the disclaimer very carfully and in the NRU approved disclaimer it talked about the significant risk of loss and that very few would make the wealth advertised by the speakers and the emotional manipulation brought about by the promise of some easy road to wealth.
SUCESS DOESNT COME FREE AND IT DOESNT COME EASY!
RE-EMPHASIS THOSE WHO HAVE MADE IT HAVE LEARNED THE TRUE SECRETS AND ESSENCE TO BE IN THE POSITION THEY ARE IN DO YOU REALLY THINK THAT THEY WISH TO RELENQUISH THEIR KNOWLEDGE AND NETWORK BUILDING TECHNIQUE FOR $3,000 OR $16,000 TO THE MASSES DOESNT SOUND LIKE A VERY BUSINESS SAVY MOVE.
Just a little common sense I'm sure that there are those that will be successful with NRU but probably no more than those that complete a bonafide real estate course.
There are people that have stated that people should not post anything if they have not been to the college or have bought the package. Well we did, and for a year and a half we worked it hard. we did everythig the senior regional preisendt and her two VP's here in southern California told us to do. We were even told that if we bought the Regents package we would be included in the cruise to the Bahamas. No, no cruise, but we did get two properties. They are both undervalued and both took several months to rent, when the RME (real market experts) told us that they had people ready to be tenanted.
We decided to go to Colorado and take a look at what we had bought. Due to a sad circumstance when my daughter broke her arm before having the chance of seeng the second property, we needed to drive back home. Now I am finding out the that home has had electrtical problems form the begining and we are again strugling to get it rented.
The classes can not teach you anything or everything that you need to know about that subject. Three to twelve hours is not enough expecially when they are giving examples and stories of how they did their deals. Thing is, their deals only work in their states, and not in the states that you are investing in, through the Concierge. Also in their books they clearly state that the information is JUST a sample and it can NOT be duplicated or used without their permission. AND They will NOT Permit it. Why don't they have properties in the west coast. It's a hot market, just like Florida or up in the New England states. Then when you tell these guys that you are interested in comming to see your property(s) They are not able to be there because they are busy or vacationing.
That said, it also goes to say that your (upline) who are so called mentors, are not there because they are so bussy trying to make other deal. They do not want to deal with you, if you are not bringing in people for them. A year ago at the LA convention several dozen ISA's including my wife and I were walking around the conventtion with a "silver plater with homes" directing the croud to the NR booth, as we were told that out of all those poeople we were all going to get a good number of them . My wife and I worked both days all day including paying $100 each to get in, and another $100 to rent a Tux(required), Two to three weeks later, after constantly calling and asking for the leads that were told that we were going to get, we only got four. Two had nerever heard of NR, 1 was from the mid west and was not interested, and the last one was a bad number and e-mail.
If you are thiking or have the slightest negative felling of not being part of this, that is good!!! You are human. That means that you have instincts. God has given us this sense and sometimes we loose track of it or we shut it down because some of these deals sound so good and being hungry, which these people know that we are, they throw the bait and we go after it. We did. Now we are loosing everythig because I did what they told me.
Tell you what. Go to these one or two day conferences and ask everyone that you can. "How long have they been part of this comunity"? You are going to findd out that 95+% of these people have been there less than a year. the others are VP's or wanabees that are just giving you a line. Also, if they have been there a while ask them about their properties, they shoul not be ashaimed about giving you the info. It is public info that you can reference and see if its realy true. Dont take RE, legal, or financial advice from someone that is worst than you. Don't take my advise. Ask aroud, do your homework befvore you fork out those 20some K's PLUS.
Why in the hell should I listen to people who spend their time on blogs all day? Where do you find the time to bash anything? Given the abundance of spelling, punctuation and grammar errors on this blog, everyone's time would be better spent going back to school, let alone real estate school.
No wonder this NRU thing hasn't worked for any of you. You're all sitting at home reading and typing blogs all day.v
I posted on another blog after going to a seminar. I do not have the money to spend on this program and I am not taking out a loan to do so (things like that have got me in the position I am in). So I make this offer to all of you successful NRU members. Front me the cost of tution (pay it directly to the school in my name), and I will pay you half of my profits for the first 6 months no matter how big or small those profits might be. If this program is as great as claimed you should make your money back (and then some) in no time at all.
Here is a well written rebuttal site to this article. Anyone who has read this far in the comments should definitely take the time to read this perspective as well:
Are the Investor Concierge Deals any good?
I know of 3 families involved in NRU who have pretty much tried to recruit everyone they know, including my husband and myself. We've attended 2 informational meetings, and a 2-day "Intensive" where you actually get a taste of what their classes are like. I will admit, the Intensive was quite imformative, but then again, so is watching HGTV and seeing how other people do it.
My big issue with this organization (I refuse to call it a University) is that though it "isn't an MLM," it is a marketing scheme (does that sound better than a scam). If you're not already wealthy and have money to invest, you earn your investing money from RECRUITING. I know this for a fact because of those friends who are "independent student advisors." It makes me uncomfortable to know our friends look at us, dollar signs in their eyes, thinking they're going to "help" us learn about real estate investing, when really, all they are looking for is to earn the $8000 cut they would get from us signing-up.
I agree with Jason's comment. Let them put their money where their mouth is and shell out for your tuition.
I think Real Estate investing sounds like a great idea, but why give 1/2 of a person's tuition to their "certified" ISA? NRU even has classes and meetings just for the ISAs to learn more marketing strategies, like sticking their business cards in investing/money books at the bookstore. It'd be a nice concept if, 1. they didn't charge so much for their classes (or did a pay as you go option the way REAL universities do), and 2. no one made money off your tuition.
wow, great info. although, i'm not into this program i can see the potential it carries, but more obvious are the pitfalls. $16k to get started "right". hmmm. if you're really into the idea, why not throw those bones my way? or better yet, hold onto about $15,900 and e-mail me.
if you want a truly passive income, or if you don't want to feel like you're bleeding people dry (financially) and compromising your ethics/morals to do so, and can see a great product which doesn't have overhead costs, vacancy costs, or maintenance costs, then write to me.
no scam, no bs, no arm-twisting. it's either for you or it's not, and i'm not going to beg you for your hard-earned cash.
smdppl at gmail dot com
send me a note and i'll send you a dvd, no obligation. no mailing list, no unwanted phone calls. NO HASSLE.
best regards, all.
CITRMS
People always complain when they fall short in life. Our very nature is to blame other people for our shortfalls and misgivings and to shift responsibility and accountability elsewhere.
This email blog was sent to me from a friend and I am familiar with "NR" people. Their mdel WORKED but not any more (from th limited information have....NOT being a student, but interviewed by them for a talk show).
People NEED education and that requires personal responsibility. It's a shools role to educate its studens, their role is NOT to make decisions for them....otherwise we have no free will - the very thing the creato gave us...
Corey G,
www.fixmyreport.com
The proof of this as a scam and/or MLM scheme comes largely from those "Investor Seeks Apprentice - $10K to $22K / mo" signs seen along the roadways and such. One local goof who goes by the biz name of "Foozy Investments" (*VERY* confidence inspiring, no?) even went so far as to post such ads on Yahoo! Hot Jobs as actual job ads! Both Yahoo! and some local publications have been notified that these are, in fact, not job ads and are, in actuality, solicitations.
If one seeks integrity in one's business partners, then this obviously indicates that one should take great care with this bunch.
Also, 10% below market doesn't take a $16,000 education, just a bit of horse sense and negotiating skills. One can find better deals than that among the HUD homes and the REOs listed on RealtyTrac. With some HUD homes, in some areas, that same $16K will buy you a lot of equity - better than 3:1 ROI is not unusual. With REOs, some banks are being very liberal in the offers they accept (no guarantees, of course - this is the real world).
In just reading this post you've already learned more than many who've actually gone the whole $16K route.
Thanks for this website. I can't believe this scam outfit has escaped media scrutiny for so long. I called the business editor of the Arizona Republic a year ago and she had never heard of NRU!
My sister became involved with NRU a couple years ago, and so far all she's been able to sell are educational packages. She's dragging family members and friends into this business.
Yes, the people defending NRU in these comments all sound the same, don't they? Shhhh! We're not supposed to notice. ;-)
If you cant see past that the Community of Nouveau Riche offers multiple facets to help people who have no idea how to buy property that cash flows and at a discount without having to ever see the property or manage it and yet reap the benefits of a full blown investor than you need to go back to the farm and milk cows. Be happy with meritocracy cause you will never see the big picture. AND YOU WILL NEVER BE A INVESTOR IF YOU DO NOT SEE THE LIGHT. I have done 3 deals and I have 16 more in the pipe from the education I purchased from the University. If you really want to find out the truth find the facts. Nouveau Riche University is the best education that allows you to make more money in a month than you will make in a lifetime.
The College was an awesome! There are a lot of people that are jealous of Nouveau Riche,because we make money,before we do the bigger realestate deals.
Amen. Congrats, I cant say enough how lucky I am to have been introduced to Nouveau Riche. Thanks Brandon, Cameron and Cassandra you guys changed my life.
You can justify your reasoning by calling us all dumb hicks, but mind you we're not out $16,000 to "learn" how to buy real estate.
Is this rocket science? No, but I think many of the participants need to be sent to the moon. Come on, look at the founder, he's a convicted felon! Their reputation in Arizona is piss poor, at best.
And another thing, if you're all making so much money, why then do roughly 40% of your credit cards decline when you stay at our local hotels? Not to mention your groups hording and pilfering of the hotel's free breakfast offerings. Makes me think you're all 1 step away from renting a cardboard box behind the local grocery store as a home.
Prove me wrong. I'd like to see you succeed, it's a wonderful dream to have. But don't subject me to your corrupted sense of morals, ethics and lack of decency and call it an "opportunity" that I'm missing. Oh, and please learn to take "no" for an answer. Read the book titled: Your First Year In Network Marketing. It's something you could all benefit from.
Best regards,
Shawn
p.s.
Your idea of the "big picture" is yours alone. Don't assume we're clones of your design and mindset.
p.p.s.
Congrats on your 3 deals and 16 in the pipe.
p.p.p.s.
My grammar is flawless. Just ask her yourself! haha
>>>>Christopher said...
If you cant see past that the Community of Nouveau Riche offers multiple facets to help people who have no idea how to buy property that cash flows and at a discount without having to ever see the property or manage it and yet reap the benefits of a full blown investor than you need to go back to the farm and milk cows. Be happy with meritocracy cause you will never see the big picture. AND YOU WILL NEVER BE A INVESTOR IF YOU DO NOT SEE THE LIGHT. I have done 3 deals and I have 16 more in the pipe from the education I purchased from the University. If you really want to find out the truth find the facts. Nouveau Riche University is the best education that allows you to make more money in a month than you will make in a lifetime.
All I have to say is, if you want to get an education at any university in the world, you'll have to pay. Education isn't free, but ignorance is expensive.
Real estate education gets a bad rap no matter what company it is that's offering it because it's not the ABC's of learning - it's stepping outside of the box and learning about making long-term wealth instead of relying on a job to make money by trading time for a paycheck.
As for making money on the tuition packages sold - if you look at any other university, and look at the amount of money they spend recruiting new students & athletes, consider whether the tuition they charge is really being totally spent on the education. This company seems to be rewarding it's students for word of mouth advertising rather than paying a team of internal people to recruit (and get paid a measly sum to do so). I think that the students who can make money sharing a way to learn how to invest are simply doing others a service by letting them know about it - plain and simple.
I have no comments either postively or negatively about any company that offers anyone a chance to learn something that could help them get more out of life.
I saw this on myspace and I was interested at first until I got half way through the video and it said it was 16K to attend. I thought this was a bit peculiar myself so I did a research on real estate schools in Illinois. I was told the school is located in Chicago that is why I did the search and as I google the approved real estate schools of Illinois, NRU was nowhere to be found on the list. Besides why would I page 16K for a university when their are real estate classes out their that teach you the same thing for only $500 to $600 for a month course. After holding your license for at least a year you can become a broker and do the same thing they are doing. Definitely a rip off. I got my sources here.
First off, I attended several briefings..and Like the rest I thought it was a scam.
I did my due diligence and came across mixed reviews. However, I spent over $120,000 for my college degree and many of my friends spent much more…and left college with job offers that paid under 35,000 per year. If anything is
a scam it is traditional education.
Remember Thomas Edison and Albert Einstein became famous not by going to a traditional school; alternative education is the way. Nouveau, teaches many strategies and useful knowledge. Like all programs some will make money in real-estate as a result of the education. Others will make money marketing the college program; with a 50 percent commission. In my opinion any company that offers a 50 percent commission; is a pro-social organization-not a scam. If you don’t know what pro-social means look it up. IF this was
A SCAM the company would offer 10 percent commission; 50 percent commission is often unheard of in the sales industry. So I truly feel the founders are paying it forward.
To conclude, Albert Einstein once said, " if at first an idea does not seem absurd then there is no value to it” some people look at an opportunity and all they
see is mud; others consider an opportunity and see stars. As with all endeavors in life…………a RISK is always associated with an investment. Quite frankly,
I have met some of the most honest and helpful people in my entire life-as a result of attending and meeting various professionals associated with NRU.
In addition, no one pressured me to buy anything in fact –I learned a great deal For free, received free meals and no one pressured me to buy anything.
Remember optimists see infinite possibilities no matter what the opportunity is;Pessimists see negativity in all opportunities. All in all psychology proves optimists Make more $$$. It’s how you think…. So here is what I suggest…go to a briefing,
Follow your gut and keep in mind-some of you will make money, some will get a great deal out of this unique education and others may not; some of you may loose money
too.
Keep in mind- my parents lost out on $600,000 + dollars by making the wrong real-estatedecisions; I bet if they spent 3,500 -20,000 at NRU; they would have made better decisions and as a result they would be much happier today..
Knowledge is power no matter if it is accredited or not. NRU provides- knowledge, networking, mentors,
and much more to help u succeed; just remember no bus. can make everyone happy.
Good Luck in your decisions. Keep in mind 60+ percent of Americans can’t afford To retire; more than 3billion people in the world are poor and if you make 75,000
Or more per year..one makes more than 80 percent of the world population. NRU is designed in many ways –to help you make money –thru. Real –Estate, Sales and
Much more. In addition, one can make money without spending more than 75.00.
It is naysayers who tried to stop the Wright Brothers, Walt Disney, Sam Morse,Bell, Edison, Albert Einstein, and Nikola Tesla. The future belongs to those who
Believe…….and only the lucky 5 percent of the world population is rich..most Made it by taking a risk….Good luck; as with all businesses there is a 70+ percent
failure rate. However, given the structure of NRU-one has a good chance of making a ROI.
Darrell
MR.Possibilities@hotmail.com
"Due diligence" seems to be the favorite psychological catchphrase of all MLM companies.
First off, if you've had success in your endeavors, good for you. You're in an elite club of very few who actually make it.
However, I bet you're also one of the people on stage giving your "story" in 60 seconds or less to show just how "easy" it is. Driving home the fact that without this $16k "opportunity" you'd still be stuck in your rut of 9-5 at your J.O.B. (just over broke). Working just hard enough just to stay employed, and not putting in enough effort to go anywhere.
After $120,000 for college the best you could come up with is a job for $35k a year? Please. Don't piss on my back and tell me it's raining. After that amount of money, you should have a Doctorate, at minimum! Either that, or you drank your college loan money. How dare you mock the higher education system of this country, it's an entire galaxy above and beyond what NRU sells.
And for you to include Einstein in your rebuttal lends no credibility to your argument, nor do the meaningless statistics. Anyone can pull a rabbit from a hat. Or take a quote out of context.
SCAM! I can't believe the people that use the words integrity and ethics when describing NRU, I knew someone who bragged about how much money he was making and how great the community was. Turns out that all that money he was making was by getting people to take out huge student loans, he hadn't done a single deal. When he did do his first deal his "mentor" (haha, right) sold him a property that he had picked up at about 200k, he told my acquaintance that he'd sell it to him at 260k (giving his "mentor" a 60k profit) and if he finished the basement (which was a bad choice for this property)he could sell it for well over 300k. That was a huge lie. His "mentor" made a huge profit, he put time and money into a house that wasn't even worth what he paid for it, and he ended up in huge financial trouble. This Acquaintance of mine has since returned to the normal work force where he is making an honest living.
I know people who have lost money because their MENTOR got them into a TERRIBLE deal. So his 20,000 was really well spent... he paid for someone else to make a profit of him and then give him advice that made his mentor even more money and he lost even more.
Here are some interesting citations from CNN
"Raised in Nebraska, Piccolo says he was a poor student, interested more in sports and cars than his classes. After graduating from the University of Nebraska in 1984, he moved to Phoenix and worked in the car detailing and design business. In 1990, Piccolo says, medical bills forced him to file for Chapter 7 bankruptcy and list debts of $650,539. Piccolo ran into more trouble a year later when he pleaded guilty to the theft of his girlfriend's new Mercedes-Benz. Although he denies responsibility now, Piccolo admitted to the court that he had dumped the car in the desert so that his girlfriend could collect an insurance claim of about $24,000; Piccolo said she'd complained that the car was a lemon. "I couldn't bear to see her hurt," he told the court. After three years probation, his felony conviction was reduced to a misdemeanor."
"These days Piccolo is living large - and proud of it. "Only in America," he says, "can a guy who barely made it through college end up owning a college." He and his wife, Mary, own three homes, including a ten-acre ranch with a 22,000-square-foot house and a pool in North Scottsdale. Still a car buff, he boasts a collection that includes a Ferrari 360 Spider, a Lamborghini Diablo, and a Bentley GT convertible. He also travels in a Falcon 200 company jet. For their seventh wedding anniversary he surprised his wife with a cherry-red grand piano signed by Elton John. Cost: $100,000. Piccolo says he and his wife also own investment properties in Arizona, Nevada, Oregon, and Utah; Mary Piccolo manages the portfolio. Piccolo estimates its total value at $20 million."
Just a little info about the founder, but hey, what does CNN know.
A new "friend" hooked me into the "free" seminar. For $16k, I really ought to do my homework, research NRU, think critically, and make an unemotional decision, right? They prefer I write a check in a frenzy while I'm hyper and stupid. I just wanted a few days to think about it.
I found wikipedia's entry for NRU very helpful. It is unemotional and factual.
In the end, I asked myself if they are selling a "quickie" education in real estate, or a tuition generation machine. I simply can't imagine a decent education being delivered in just a few days. If you don't mind buying a tuition generation machine, this is probably for you. I have no use for a tuition generation machine.
Good luck to you NRU "grads".
p.s., my friend evaporated with my interest in NRU. Hey - it sounded like a duck - I guess it was a duck.
I am a fan of free speech, so I do not want to knock those that feel NRU is a scam or don't like the company. Good for you.
But for those of you that have recently heard about NRU and are reading this blog and others to research the company further to help you make a decision, I have some words of advice I would like to share with you.
*Most* of the negative press that you hear about NRU is not true. I know that is a bold statement, but I can prove it. Here are a few examples.
This blog that we are reading now, it is full of misleading details about NRU that are completely untrue and have been exposed by this blog:
http://newrich.wordpress.com
Then there is the CNN article about NRU. This comes across as a very reputable source so nobody thinks to question it. But let me ask you this, have you ever seen the media report things wrong before? Is there a possibility they "might" have got this story wrong as well? Let me explain:
First of all, there are a few Blatent lies from the editor. She says she interviewed Casey Serin from Sacramento and quotes him saying that what they teach at NRU is dangerous and so forth. Well, the reality is that she NEVER even interviewed him! And he publicly has endorsed NRU heavily, which he has taken a lot of heat from. Here is a link to a PDF Document written by Casey Serin regarding the misquote in the CNN article:
http://tinyurl.com/39xx8v
Now, I am not a huge fan of Casey Serin, and I disagree with his investments before NRU, but this is a perfect example of yellow journalism at its finest.
Then she also mentions that Jim Piccolo hasn't bought any real estate lately in that article. Come on now! Does she have to make stuff up just to get more readers? She contradicts herself with this statement because just following this she mentions that he recently bought 24 acres on top of a black-lava mountain north of Phoenix. And she also mentions that Jim and his wife have purchased properties all over the country from the Investor Concierge and that their portfolio is estimated at $20 million!
All of the people she interviewed that were students of NRU were ALL HAPPY with their experience! Was she unable to find a student that was unhappy? See, the real story hear is that she just flat out doesn't think investing in real estate is a good strategy right now. It doesn't matter whether its NRU or another company. She is painting a doom and gloom picture that the market could turn on them and they would be screwed. She really shows her yellow journalism in this article and if you can't see that I suggest you read it again to see what I mean.
I have been with NRU for almost 2 years now. I have seen good and bad. I do think the signs they used early on were misleading. The real story on those signs is that they were put out by independent contractors without company approval. NRU banned any use of those signs and put it in their contracts. I also think that when they first started, before the college model, they were too much like the gurus and were too much fluff.
Folks, A LOT HAS CHANGED since then! I can honestly sit here and tell you that NRU has figured it out when it comes to quality real estate investment education. Is it worth the investment? ABSOLUTELY.
Let me clarify a few misunderstandings.
I sense that some people don't feel its worth it because the education is "quick" and only for a few days.
This is totally false.
http://newrich.wordpress.com has a great article breaking down this myth. Here is a quick quote from that article:
"12 weeks of school over a 2 year period. 64 hours per week x 12 weeks = up to 768 hours of potential in-class time x 2 people is 1536 total in-class hours for a Regents Tuition. $16,000 divided by 1536 = $10.42/hr of class time."
On top of this, Regent students get access to a Video Classroom that they can watch these classes 24/7 from the privacy of their own home. There are currently over 20 classes that have been filmed and put online. If you have the chance, you should get with someone who has access and have them pull this up and show you. You will definitely be impressed, and this is just an extra benefit.
Plus, NRU is in the final stages of creating their fully accredited university (Nouveau University) which will offer degrees. You can learn more here:
http://www.GraduateRiche.com
So what other negative press is out there? Sites like rip off report and scam.com? Do you realize that anyone can post anything on those sites without any credibility at all and it can never be erased? It is all just a bunch of fluff! Are there people out there that have had bad experiences? Sure? Are there people with good ones? Of course!
Here is a very bold statement I will make about Nouveau Riche.
In my experience since starting with Nouveau Riche, I have met HUNDREDS of students who have been to NRU college and loved it! Yet I hav only met ONE student who has been to college and felt it wasn't worth the investment! ONLY ONE! And here is the story with her. She came as a tuition partner with someone else and she didn't even pay to go! She only went for 3 days because she couldn't get more time off work, and she showed up 2 hours late the first day for class. After talking with her for almost an hour, I just gave up. I guess you really can't please all the people all the time :(
But I find it profound that I have not personally met any actual students who have had bad experiences besides her. I find it profound that the CNN article only quoted students that were positive with their experience and she had to lie about one of them being negative! I find it profound that so many people here are so skeptical without even having experienced the education for themselves. I understand being critical, but wouldn't it make more sense to approach it with an open mind until proven otherwise?
My final advice to anyone who has read this far is to get with the person that introduced you to NR and get your questions answered. Tell them what you have read here and let them know if something doesn't sit well with you. Tell them that you would like to see if the education is really fluff or quality. But whatever you do, please do not let some anonymous people on a blog or forum or anywhere else rob this opportunity from you.
It may or may not be for you, but please find that out for yourself before passing up on something that just might have been all you wanted it to be.
Hopefully this has helped you.
Here are some more sites to continue reading to get more perspective:
http://newrich.wordpress.com
http://www.graduateriche.com
http://nouveauricheuniversity.blogharbor.com
http://www.nouveaurized.com
http://jimpiccolo.wordpress.com
http://www.nouveauriche.com
You can talk to an abused spouse and they will tell you all is well when they are in the presence of their tormenter. however, after the divorce the truth becomes evident.
what am i saying?
of course 99% of the people currently involved in it will not complain about it and let us know it's bullshit; and that's because they see us as a potentially new prospect (a.k.a victim). Also, as a source of revenue, rather than a person.
i can tell you, without exception, that everyone i have met whom is former NRU DESPISES the company, it's ethics (lack of), morals, and corrupted and greedy views of those involved. please stop trying to justify your ignorance, it only reinforces my argument. your selling people false hope. if it works so well why then isn't everybody doing it? the company is owned and operated by a thief and his mindset is, unfortunately, passed on to you good people.
i know you all have one of your national conventions next month in Glendale, AZ, so please print and distribute this blog to all in attendance.
best regards,
MyAvianFlu
You are absolutely right in doing your research on this thing.
Before I made my final decision, I spent 2 weeks, full time, working to discredit it, from Internet searches to interviewing dozens of current members, team leaders and prospective members to comparing it to other real estate training and attending events. I was surprised by how many already successful and respected professionals were involved and about to get involved. There was of course negative press out there and I can totally understand why. ANYBODY who does not put to use either the real estate knowledge gained nor the marketing end will be pissed. This is not a get rich quick scheme, it does take work and intelligence. But, I can see where individuals can get sucked in thinking that this is an easy way to make money. People can and do build wealth with Nouveau Riche, but they have to work at it and follow the systems.
As a real estate professional and an investor for 20+ years, I found the quality of the education to be top notch. (I went to the college in December and I am going back in February) I would be content with the education alone even if I never made a dime from the marketing side. If the education was crap, I would cut my losses and not waste my time nor money going back to Arizona.
It is unfortunate, but I suspect that more than 50% of the people who sign up for this will fail because it does take work to succeed. Being an entrepreneur is hard, and most people do not have what it takes. I can not own THEIR failure though. This may be rationalizing on my part, but, I also don't want to pre-judge prospects and prevent them from having the opportunity to improve their lives. I truly do want to help those who have the desire to succeed. However, they need to be willing and able to follow the recipe.
Accreditation has been applied for and they are building a physical college in Arizona called Nouveau University. It is being patterned after University of Phoenix to be an on-line university first, then physical locations in the major cities. I understand that the curriculum will have a heavily entrepreneurial focus. The 50% marketing structure is to be the same.
If I had felt ripped off, I am the type of person to make a lot of noise about it. You would have received a warning instead of an invitation and probably found my negative comments on the net. Since I am content, I have no desire to waste a lot of time doing public PR for Nouveau Riche. Are you more likely to complain at a restaurant, or have the manager come over to give a him a compliment? I have complained countless times, and have only complimented a couple. Keep this in mind as you gather your research.
Please feel free to bounce any negatives you find out there off me. Though $16,000 was not a life changing amount of money for me to lose, I would not want to throw it away. Nor would we want to feel like a fool by being taken in by a scam. I know exactly where you are at. I was there about 6 weeks ago. I was so hesitant that I waited to the last possible day to give over my check so I could attend the December college. I took every minute of the 6 day right of rescission before committing.
Good luck with your research. I hope you make the right decision for YOU. If you don't have what it takes, keep your money in your pocket!
I can be reached at 630-688-4552.
Ron
Evidently Nouveau Riche is getting such a bad name thanks to this blog and other communications, that I just got a call from "Propel Chicago," a Chicago-based investment firm that has teamed up with them to sell NR's services.
Remember the old adage that if it sounds too good to be true, it probably isn't. Don't waste your time. Find a real, fully accredited school if you need further education.
Thanks for putting together an awesome blog but I have been to a Nouveau Ridhe Opportunity also and have to say that even with an interest only loan you could still make out like a bandit especially if you went to Ufirst and got thier pay down software.
To each his own. It's not for me though. best of luck to you all, however.
You CAN clean up on interest only loans but that doesn't meant that you will. And as far as the person goes that claims that most of the claims made by this blog are false, it's all he said she said. The statements I've made regarding the person who's mentor got them involved in a terrible deal are true and I have personally seen all of the details of that transaction.
Funny how you say that CNN said that Piccolo hasn't been buying lately but he is the one that Admitted he hasn't been buying lately. He says that he owns a huge home not that he recently bought one.
I am interested in hearing your definition of "lately". Would you say lately means in the last few years? Last few months? Last few days?
Would you say that it would only count if he bought real estate in his own name? What if he purchased lately in a company name that he controls? Would that count as lately?
I find it funny that Patricia Gray with Fortune Small Business had so much trouble finding negative things to say that she resorted to writing things like Jim not buying any real estate lately.
It is a fact that Jim has purchased millions in real estate. Patricia Gray admits this fact earlier in the article.
Jim owns, manages or is involved with 40+ companies and is a well known and respected investor. Don't you think it is a little silly to try to discredit him by suggesting he hasn't invested in real estate lately? Who here owns more real estate than he does? Think about it...
I was introduced to the NRU community in Chicago. The graduates are very evasive in getting me the details of the real estate transactions. If any NRU graduate is willing to show me their Real estate transactions, then I will be more than willing to buy their $19500 tuition. Until then, I will not part with my money.
What a lame blog. You clearly are not a wealthy or educated investor and have some blinders on when it comes to seeing great opportunities. I know dozens of people including my own family members who have several Concierge properties all that have positive cash flow and with conventional financing. You take a single example of a property, twist the numbers for your own lame use and lie to everyone reading your blog. Nice work buddy, you've really helped a lot of people remain stuck in their lame jobs and no hope for their financial futures.
I was making less than $2000 a month at my last job. I joined Nouveau Riche because I saw that Real Estate was a great field to get into. I knew nothing about it before, but I also saw that my brother had made over $300K his first year marketing and had bought 3 properties in Colorado, one that cash flowed $500 a month!!
I was very skeptical about the education, but after attending the college, I absolutely loved it!! I have a Bachelor's degree and never learned any of the topics they teach at Nouveau Riche. The Entrepreneurial Courses and Investment strategies are not taught anywhere else. Maybe at the Guru seminars like Trump and Kiyosaki, but they cost way more than NR. Trump is $90K and Kiyosaki is $40K. And neither have a community or access to properties. So which is the better deal????
If you want to learn to invest, you might as well learn from professional investors like those at Nouveau Riche.
After coming back from the college, I knew that I could ethically tell friends about this. I began marketing and have made over $10K per month since. I would only recommend marketing it if you've actually been to college, otherwise you are just a scammer trying to sell something you know nothing about. It's not a business for people who want to do Real Estate as a hobby. You actually have to do what you're taught. That's why I love to market it, because I can explain Real Estate investing now and provide the opportunity to learn more from the pro's.
I make more money than I ever have before and every single member loves the college too!! I made $30K in December alone!! Beat that at your corporate job. I'd gladly pay back anyone who wanted a refund, but not one person complains about it, because it's truly quality education and such great people involved. That's the best part, we don't hang around with negative people that think you can't succeed by taking risks in your education. Those types of people will do the same thing over and over again and pull you down with them. Good luck with that!
Nouveau Riche students will succeed if they put their education to work. I know so many successful investors in the Seattle area. I know many failed investors as well who simply read Kiyosaki and thought they knew enough to invest. WRONG!! Books don't teach you how to invest. Successful investors do! If you're not willing to shell out $4K per year, which is all it costs when you break down the $16K for two people for two years, then you really aren't going to make it. All other seminar companies are glad to sell you 1-2 classes for that much money! At NR you will get 20 classes for that much!! Put it into perspective and you'll see this is a great deal. I never once felt I was scammed and I'd pay this money again in a second, not because I'm "brainwashed" but because I'm now educated and actually doing Short Sales and buying Foreclosures! Plus, I have personal coaches and business partners in my LLC who help me. You can't get that from a book either!
Those who have negative things to say AREN'T NR MEMBERS!! Get a clue, you can't knock something you know nothing about. They think they know, but they have no idea!! The negative authors on this blog are not in the 1% wealthy club nor will they ever be. There are hundreds if not thousands of NR members who are very wealthy, so follow the success path, not the negative ones!!! You will be glad you did or look back and wish you did.
Hello everyone. I actually signed up for the NRU program, received my loan thru Chase, but decided not to go thru the class. i did find out that it is NOT an actual University nor is it accredited as one. That alone caused me to further research as it is totally misleading. My buddy that tried to get me in decided to fess up and told me about how the only money he has been able to make is by convincing people to take the course and cough up 19,500. He apologized and felt horrible about trying to get me in but I understood why he acted like such a "Soldier" for NRU. He explained how most people that went thru it are currently stuck with bad deal, an average of 3 a piece, and that the only way to pay the mortgages and hang in there is by recruiting people. He is a good man but was sold bad properties and suckered in to bad deals. With a third child on the way, mortgages, credit cards he racked up for his NRu investments, he just had no other way to pay the bills. As he said it "how can I tell others the truth when my only options are sink or swim." Anyway, he is still wrong for misleading others.
Fortunately, I met a guy named Steve in Home Depot, he is an experienced rehabber and after telling him my story he recommended a 9 day course that has no advertisement, no website (yet they say), and no hype. I just tool the rehab (reo investing) course in Chicago last week. It's called the National Housing Rehab Program. it was the best thing I could have done. They tought the 7 people that attended everything in detail. They are new but really good. Call me naive but they seemed so down to earth, honest, and said things as they are. Some guys finished the course thanking them for opening their eyes and realizing the business was not for them. They share so many horror stories about rehabbing that really showed you real life experiences and all of the cons of the business, not just the Pro's. We were walked thru properties in 8 different stages, from searching for deal, inspecting, making offers (negotiating), closing to actually seeing and assisting in the demolition of a property. We saw how to fix it, where to buy materials, permits, security, listing, getting "Section 8" tenants (in some neighborhood) etc etc etc it was a ton of stuff. I would never be able to describe everything. it was just well worth it a definitely something I am doing. My first REO offer has been accepted at 52,000 for a 2 unit brick building in Chicago, all recent closings, 4 months or less, for similar homes are 260k. of course I have to fix it but I am already approved for the loan. the contractor is charging 70k for a full gut rehab all included and the lender will be reviewing and inspecting the property at every payout. I love it.
Cost$$$$, When I first called them, they interviewed me for about 20 minutes. Questions about what I expect? what are my goals? and immediately cut my goal for the year from 500,000 to 150k based on my answers they said. They asked I take a cashiers check for $5,000.00 and when I started questioning their integrity and their credibility they really surprised me with their take on it. They said "Bring the check, we will pin it in the wall, once the class is over, if you think it was not worth it, take it back" I was shocked. I took the course, was amazed at how much I learned and enjoyed it, thought of taking the check back but I didn't. It was worth more than that. The only thing I did not like is that they won't pay referral fees.
That's my 2 cents guys. look around and if NRU does not affer a full money guarantee, I would not take it.
If you guys know of any good deals out there, let me know. i want to start a Internet Round Table or something. I'm from Las Vegas but moving to Chicago!
Thanks,
Eddie Iglesias
luvnowandlater@hotmail.com
My friend is a 50 something worman who has worked hard all her life and will be forced into retirement in a few years. She purchased 3 properties in 1 year through NRU to bolster her savings. How has it turned out?
2 properties are vacant and she had to negotiate the rent lower on the 3rd property to retain the tenant. She also said the manager had claimed he was the primary resident of the properties for one year saving her 50% on property taxes. Now, he won’t make that claim. To keep these properties, she’s had to dip into savings.
"I find it funny that Patricia Gray with Fortune Small Business had so much trouble finding negative things to say that she resorted to writing things like Jim not buying any real estate lately."
He's a felon that has had to to file bankruptcy, I wouldn't say that they were having trouble coming up with negative things to say.
I guess I am curious as to why someone went to all the effort to write this article and pay to have it sit high on the search engines index. Seems like a lot of effort just to scare others away from joining NRU.
nobody is trying to scare you away, we'll let the $20,000 suckerpunch to your bank account do it.
this program is so good it works for everyone, huh? oh, no. just a few. the few who actually do anything with it are among an elite few.
but hey, sacrifice your morals and ethics to recruit new blood and screw them out of their hard-earned 20k.
dirtbags.
do your "due diligence" and smell the bull$**t long before you step in it.
A good friend of mine just became one of the latest victims of this fraud. Last week she didn't know what a mortgage was and now after just 1 week at the brainwashing seminar in AZ and she thinks she is an investment guru. She is preying on all of her family and friends who are all much more financially sophisticated than any NRU idiot. Everyone is disgusted with her new lack of integrity and investing naivity. She walks around pie eyed reciting all of the cheap sales tactics that they teach at the car salesman level seminar. She will lose her seminar fee and her friends. What a great deal where do I sign up; wait I won't because I have a brain.
NRU should be illegal. Per the US department of education it is not an accredited school as they claim. The NRU salesman like to say that accreditation takes a long time and they are in the process. Well NRU salesmen the process of application does not equal a University. Not a scholl but a scam.
A clever but dangerous scam. Perfectly designed to prey on the ignorant and desperate. Do not become a victim of these sharks and tell everyone that you know to beware.
I'm currently looking into NU because my cousin is very successful with it and is going tell me more about it this weekend.
I'm curious about something for anyone reading this that has been involved in MLMs before: how is NU as far as MLMs go? I ask because I have looked around at others and you normally make $40 to a couple hundred bucks per recruit with MLMs like NuSkin and Herbalife.
I know that NU also sells real estate education and information but even if it were marketed solely as a MLM, wouldn't it still be incredibly lucrative compared to other MLMs out there? I can't see it being very hard to tell someone, look - you sign up and I get 8,000 bucks. Then sign up other people that want to make that kind of money and you'll do the same...
What do you have to say?
"Sure, take my $20,000."
please. this school is a sham. take your 20k and invest it into a real education.
and don't be one of those tools who measures success by the size of their bank account. because even a blind squirrel can find a nut once in a while.
if you're dying to lose that much money, just send it to me. i need to improve the landscaping in my backyard and buy a new paintball gun.
What I find interesting about these NRU sheeple is how impressed they are with the so called education. Real estate is one of the low barrier to entry professions in the nation. Its where you can easily start making more money that a college graduate with no education. It is easer to get a job in real estate than it is to get a job as a waitress. Why do these people insist on paying all that money to get an education for an industry that requires no education at all? If need to be educated about real estate go to the library and check out a book or two for free! Sorry but if you are into NRU you are either a scam artist or an idiot.
Nouveau Riche is amazing and has changed my life. No company is perfect (people are involved), but they are trying their hardest to assist those that trust them with their hard earned dollars to make a better life for them and their family. It’s not a get rich fast program, but a get rich faster with hard work and dedication to your education and personal growth.
As far as those who keep knocking Jim, STOP. I will just mention what a wise teacher once said, "If any of you are without sin, let him cast the first stone." All of us have done stupid things. If you knew the real story behind all of the circumstances of Jim’s life at the time, you would be embarrassed for judging. I admire him for his willingness to let all the slugs of the earth go thru his dirty laundry and plow it all over the internet. The better question you should be asking is, "What has Jim done lately?" He is changing, impacting and inspiring thousands of people to do more, give more and achieve their best. What have you done lately?
I can assure you that Nouveau Riche is NOT a SCAM. They have been around for over 5 years and keep getting better and better. Do 100% of the students succeed? NO Are there thousands of successful students? YES My partners and I just closed on a deal that will pay us over $250,000 per year in net cash flow. I owe all of my knowledge, networking and growth to the Nouveau Riche community.
My last point is this: There is a reason that only 1% of people in this country achieve wealth (current net worth of 5 Million) at the age of 65. Sometimes you just have to GO FOR IT! You can never have 100 percent certainty in everything you do, but I do know this: You will always miss 100% of the shots you never take. If Nouveau Riche is not for you, FINE, but do something. You deserve to have more, be more and give more. The world is waiting for you to step up and make a difference.
Nouveau Riche preys on poor suckers looking to get rich. Unless you want double and triple mortgages on your house, going bankrupt in 2 years, stay away from this SCAM
Anyone looking to sign up, let me know. I will gladly take your 8k referrel bonus and lol at you when your wife divorices you because you are an idiot.
People don't admit this is a scam because they don't want to admit they pissed 16k down the drain.
"my cousin is very successful with it"
bullshit argument by many - i would have them show you their tax returns for the last 3 years to prove it - they are just blowing shit out their ass so they get your referrel fee.
As a real estate attorney, I would not recommend this to anyone.
Here we have our NRU salesman claiming that NRU is amazing and has changed his life. He is selling you, what else do you expect him to say about the company. It has to be amazing, to justify giving him $20,000 for the real estate seminar education. Use your common sense people and see this for what it is, a scam to separate you from your money.
Jim Piccolo the architect of how to steal your retirement savings is a convicted felon. He stole a car and tried to defraud an insurance company. The NRU leader is a car thief and a felon no matter what kind of spin you put on it. Yes NRU salesman many people have made mistakes in the past. But, the people that I do business with are not convicted felons. What has Jim done lately? He is not buying any of his junk Investor Concierge properties. But he is getting rich off desperate people paying a ridiculous tuition for a lame seminar.
NRU is most certainly a scam. It’s a pyramid scheme. The fact that it has been around for 5 years is not proof of it not being a scam. The Nigerian email scammers have been preying on Americans for 15 years. Does that timeline make them legitimate? No of course not. Please use some basic logic when the NRU salesman hits you with his illogical sales pitch.
I have seen the NRU inventory of properties for sale and none of them could generate $250,000 a year in net cash flow. The NRU trash deals are in places that are declining by 10% per year. This $250 income claim that the NRU salesman claims sounds flashy and gets our attention. I find it a highly suspicious claim from a salesman. Their only concern is to get you to join pyramid scheme.
Our NRU salesman’s last point is basic NRU dribble about the small percentage of wealthy in this country. Buy the book, “Investing for Dummies” and this type of info will be on the first page. NRU takes these basic financial planning concepts and try to dazzle you with them and confuse you. They try to make you think that you won’t be part of the 5% if you don’t take action and buy their worthless education. Intelligent investing is not about deciding to just “go for it”. Save your $20,000 and go to the library and get the education free. When the real estate market comes back around buy an investment property. It is not as complicated as these sharks make it sound. Take a financial planning course. Buy a calculator and find out what the future opportunity cost of your tuition will be in say 25 years.
Stay away from the NRU salesman, Jim Piccolo the felon and warn your friends.
PS - Please listen to the Real Estate attorney's post above mine. He's right on the mark.
This is NRU Salesman again. Great Nickname!
I just want to point out how strange it is that people that are not involved with Nouveau Riche are takeing so much time to knock it. They are also so hateful towards someone they don't even know. It's almost like they have an alternative motive.
That fact remains that some students are succeeding and some are not. You can lead a horse to water, but you cannot make him drink. You have to work once you are involved. It is almost like the people knocking it are expecting that once you sign up, a windfall of money will just fall into your lap. All of this requires work and dedication to your success.
Last, but not least, the February college received a 95 percent high satisfaction rating from the people that attended. You cannot force people to give these types of responses to the surveys given. I also want to point out that the majority of the students who attend don't even market the product. Get your facts straight and go with your gut. This is a phenomenal opportunity for those who are ready to roll up their sleeves and work.
NRU Salesman (Thanks for the new title)
Unbelievable...It's hard to believe that these people actually exist. Lead a horse to water! How insightful.
My friend who got scammed into this "university" has now ditched the "real estate investor" language from his sales pitch and just tries to sell the Pyramid portion of the scam.
It's really sad to see. When he first tried to close me on this scam, I told him to run for the hills. He didn't listen. When I blew holes through all of the propaganda he was regurgitating to me (I'm a real estate broker) he would get very defensive and tell me all the great things he's working on (short sales, rental properties, etc.).
Almost a year later in a tanking real estate market, he hasn't done one ounce of real estate investing and thankfully he has ditched the brilliant advice he was giving to his friends (take money out of your 401k and buy a speculative rental property in an area you know nothing about). But he’s still telling people this has changed his life. Yes it’s changed his life. He’s out 20k and his friends avoid his desperate and transparent sales pitch.
What I want to know is why isn’t anyone stepping in and stopping these people? The “students” are going out and giving people investment advice when they are not qualified to do so. And not only are they not qualified, it’s the worst possible advice you could give. Why isn’t this more closely regulated like other industries that give investment advice? The only thing I can think of is no one is listening so the public isn’t getting hurt.
Regarding the NRU Salesmen’s comments that 95% approve. Why should anyone believe any number that comes out of this place? If I recall correctly, Baghdad reported that Sadaam Hussein received 99% of the vote for president too. Bullshitters bullshit. That’s all they are good at.
The very fact that they call themselves a university is laughable. I went to a real university and I’ve seen and heard excerpts from the classes at the “NRU University”. I don’t remember people standing up and cheering during any of my classes. These NRU classes are nothing more than sales seminars designed to work the “students” into a frenzy so they can’t diligently go out and find more suckers.
And when I get the inevitable response from the NRU spokesperson that I am making comments on something I know nothing about, I attended one of the informational seminars and I reviewed all of my friend’s materials. That coupled with my first hand observations of my friends experience gives me all of the information I need.
Excellent post. I have a similar friend who was a house wife 6 months ago. Now she is a real estate NRU investment pro! She doesn't even understand that the real estate market is crashing or that there is a credit crisis. But she has learned a lot of impressive sounding used car salesman like slogans. She is out $16,000 and her friends, who are already successful, won't even speak to her anymore. Everyone thinks that she is a freak!
It is very sad...
Hi I'm a journalist who has been checking out this website and think it's really interesting. There doesn't seem to be any posts by people who have actually enrolled at NRU or bought the materials and haven't had a good experience though. Anyone know how I can find these people?
Herman,
It is very rare that you will find actual NRU students who are not pleased with their experience. The last survey of students at the most recent college resulted in a 95% approval rating of teachers.
This website is a FOR-PROFIT blog that bad-mouths NRU and creates drama, which fuels comments, which fuels search engine results, which fuels advertising dollars. The majority of negative NRU comments on this post are based on false information. Any well educated individual can read through the negative spin from people who have never even experienced it for themselves...
I find it amusing how angry the NRU salesman gets when you start peeling the layers away to reveal the scam.
Any well educated individual sees this as an obvious scam. The financially unsophisticated see it as a great experience.
I also find it funny that the NRU scam artist attacks this website because it may make a profit. Well at least this site doesn't charge $16,000 for the unique experience of reading quality blogging.
I bet 95% of the people who read this blog are pleased! Ha!
HERMAN:
You can't polish a turd, buddy.
maybe i'm biased because i live in AZ and meet you losers all the time. always scamming and scheming others to take their money. but not me, not gonna happen to me.
take a "no" and GTFO.
I asked my friend who joined NR about a year ago how it was going. He told me it was GREAT! I asked if he finally did some investing and he said "not yet", but he just signed his 4th recruit and "made" $3500!
Let me define "made": He spent almost $20k to join, he's flown out to Phoenix at least 5 times to go to "college", he purchased an 800 number service to field the calls from all of his annoying ads he's run to attract "apprentices", he's spent hundreds of hours trying to hussle others to join this pyramid, I mean college.
Not including time invested, I would guess he's invested close to $30k into this "business".
The good news is that he's made a ton of money for his mentor! How rewarding!
So here's a guy who has spent over $30k, hundreds of hours of time, hasn't purchased one investment property, but thinks he made $3500 by signing up 4 people.
Perhaps this is the reason 95% of students are satisfied. If they were foolish enough to sign up in the first place and they are foolish enough to think they made money when they spend $30k to make $3k, how bright can these people possibly be.
Anyone who's thinking of joining NRU: I would be happy to take your $30k and give you a check for $3k six months later and you don't have to sell a thing!
I agree with "anonomous". I believe when you comment on something you need to document your proof, especailly if it's negative like this one. How many deals did you evaluate? Who did you talk to? What did your concrete private research turn up? What's your background? What is your expertise? What is your motivation? Broke thinking people would be better served and all those that they know as well, by spending their time finding the truth about things before they decide to put it in print. The fact is clear. From a handfull of investors to over 16,000 in 5 years with NO MLM structure and no corporate mass media advertising points to only one answer...their system works...sometimes people don't! Next time do your due diligence and help someone.
This is for anyone who is considering joining NR.
The Rich Keep Getting Richer, the Poor Keep Getting Poorer, and Middle Class is Slowly Becoming the LOWER CLASS? WOW! What a BOLD statement. Let me tell you why it's true. Before I get into it though, let me tell you a little bit about me, and what I have discovered while getting where I am in life... I didn't start life with a Silver Spoon in my mouth. In fact, I was lucky to have a Wooden Spoon in my mouth. I grew up in Salt Lake City Utah, with a family of 6.
I had good parents, that taught me what they knew... As I grew up, I was taught to work hard, get good grades, and get a good job. Not only get a good job, but get a safe and secure job. So that's what I did... I worked up from customer service positions, to sales positions, to management positions, and back to sales positions (I learned that sales people made more than their managers). I had done quite well for myself. By the age of 22, I was making near $75,000 a year. I thought I was set. The next year I made more sales and was rewarded with a $20,000 paycut! That's right, $20,000! I had gone from making $75,000 a year to $54,000, and I worked more hours, and made more sales! Did I leave? NO! I kept working there for another year. I figured that if I 'worked harder', and increased my production, things would even themselves out. BOY WAS I WRONG!
I increased my sales again, and I went from $54,000 a year, to making $45,000 a year! Not as big a paycut as the year before, but WHOA! This is when I finally started to look for something new... Over the next few years, I experienced the same thing with other companies.
HMMM...I was starting to get frustrated!
I had made sales my career, and it was falling apart. How can companies do this? I was their life source. Without me, they made no money? HELLO... What's going on! Are these companies STUPID!?
Aren't they in business to make money?
That's when it hit me... There was ALWAYS someone else, right behind me, that would gladly step up to take my position, and a lot of times at less pay.
No wonder companies are cutting pay, laying off employees, cutting benfits, etc...It allows owners to increase their profits, while decreasing yours. THEY'RE THE ONES IN CONTROL!! NOT YOU!! OUCH! I was going to get out! I didn't care what it took. I was not going to let someone else control my future, and my outcome in life. Do you believe me? Look around at how many people you know personally that are looking for work, have recently been looking for work, or are talking about possibilities of layoffs. I was searching... I was not going to leave my future in the hands of someone else. I was on a mission to create wealth and independence for my family. FINALLY! A Break... I was invited by a friend, to "a meeting." Oh no, the dreaded meeting. I had avoided them like the plague before because of prior experiences in MLM...but for some reason, this time I went. I was surprised! This was no MLM! It was a group of people just like me, that wanted a better life, and they were getting it. But what about hard work?
These guys were working 20-30 hrs per week, and making $20-30,000 per month! WHAT?!? They were actually enjoying what they did, and enjoying the lifestyle it provided. I couldn't believe it. I wanted in! But who were they and what were they doing? It was Nouveau Riche and they were building up a lot of cash and where were they all putting that cash? into REAL ESTATE... Hmm...I had known for a long time that real estate was where the wealthy held their money. Heck, I had made $34,000 on my first home, and I only lived in it for 19 months (One would think I would have figured it out then, but I didn't). Finally...I had found a way out! I could take control of my life. So what's so different about this group of people? The answer is in the question. THE PEOPLE! I was not on my own. I had found a community of 'Like Minded Individuals' that were actually having the success that I wanted. They were changing the tides. No longer would I have to settle for the life I had. I AM IN CONTROL Here's the MOST important question... Can it work for you? Maybe.. The problem, is most people can't follow directions. They think they already know the 'Best' way to do things...I could show you everything that I have learned, and odds are you still won't do anything. WHY?!The reason is FEAR! Fear seems to be an epidemic in our society. We fear beginnings; we fear endings. We fear changing; we fear "staying stuck." We fear success; we fear failure. We fear living; we fear dying! You are no different than me, or any other successful individual, other than you have not moved yet, from your place of comfort...Think about that for a minute... I made $30K last month and am loking at $40K this month..I'm proof that it doesn't have to be this way. No matter what we fear, we CAN handle whatever happens! So... Are you ready to learn how to create wealth for yourself and your family?
We'll see...
All of you defenders who CLEARLY are on the NR payroll, please answer me this one question: If you guys are holding all of these winning lottery tickets (positive cash flow properties with instant equity available ONLY through the Investor Conceirge) why are you so willing to hand them out like candy to others?
Are we supposed to believe that it's because you're just such a sweet group of guys or is it perhaps the bait you use to lure others into opening up their check book and help finance your lifetyles?
Be honest, this scam may have worked while the market was hot, but now no one is making money in real estate. Most people are just trying to hold on.
Adam you are the classic NRU salesman who can ramble on for a dozen or so paragraphs and not really say anything.
Post some addresses so everyone can actually see the money that you NRU/Avon ladies are making.
Stop the incessant babbling and show us the money...
I find myself asking why I take time out of my day to post to this … and answer is that at least one person deserves this information:
I offer this information to anyone who requires more abundance in their lives without regard for what entrepreneurial venture they are about to or have already embarked upon. Perhaps by the end a few will “GET IT” – unfortunately most will not!
1. With respect to life and what you are going to get out of it:
Life is a journey – a path that is full of choices, some good, some bad, most of the choices are just what YOU choose to make out of them.
2. The financial status of the people in the US:
Here is reality -- The majority of the folks in the US are financially broke and came from financially broke parents -- perhaps I should take a moment and define “broke” – if your paycheck were to stop today and you would be in serious financial trouble in the next several weeks YOU ARE BROKE! If you take a look at the government statistics about 50% of the population makes less than about 40K per year and only about 10% of the population cracks 100K per year. What you have to ask yourself is where do you want to be?
Once you have that answer – start looking for people that are where you want to be and ask them how they got there, ask them what they did differently that set them apart from the others.
3. Where to get your advice…
If you want to be average – get your advice from average people. If you want to be above average – yep, you guessed it, get your advice from people that are above average.
If you want to be a millionaire, billionaire, etc – you had better look for advice from those that are either already there or are showing signs of at least being in the right direction.
4. The SECRET or the SPECIAL SAUCE
Here it is – it can be distilled in to one clear, clean, and concise sentence!
“To be better than average you have to choose to do more than what the average person is willing to do”
What does that mean?
Gosh – It really means a lot of things but let’s toss out a few concepts and see which one works for you.
A. You have to be willing to do more activities that produce financial results than the average person – this typically does not mean work a second job – starting an entrepreneurial venture of some sort and getting some sound financial education will get you started on the path.
B. Most people are graced with at least a few things they can do better than the average person … an above average person learns to leverage what they are good at by creating synergistic relationships with people that are above average in other skill sets.
C. A great quarterback is just that a great quarterback. If the offensive line sucks and cannot keep the defensive team off of him he will never have an opportunity to show his “greatness”. If the same quarterback has a great offensive line and all the time in the world to make great passes but has no good receivers – he throws a lot of great passes that never get caught. If you haven’t figured out where I am going – let me make it simple – to be GREAT – it is not YOU at all – it is the TEAM that you put together.
D. Be PASSIONATE about what you are doing – if you are passionate about what you are doing it will not seem like work to you simply because you enjoy it.
E. Have a dream and work toward it relentlessly. Lets face it folks – whether you like it or not – whatever you are doing now is working toward someone’s dream – is it yours?
I understand that we all have to eat, drink, and have a roof over our heads – if that is what your job provides, great, -- now, what are you going to do to start working on your DREAM.
5. Personal Development:
Once you believe you have arrived or you know it all – you lose!
The path of success is not necessarily a straight line and you will probably find yourself off target more often than on target. The key is to consistently keep the goal in mind and take corrective actions to keep you as close to on target as possible. This is done through personal development – watching, reading, listening, and mentoring.
Let me give you a few quotes – pay special attention to the writers.
Somebody should tell us, right at the start of our lives, that we are dying. Then we might live life to the limit, every minute of every day. Do it! I say. Whatever you want to do, do it now!
-- Michael Landon
All of us tend to put off living. We are all dreaming of some magical rose garden over the horizon - instead of enjoying the roses that are blooming outside our windows today.
-- Dale Carnegie
Decide what you want, decide what you are willing to exchange for it. Establish your priorities and go to work.
-- H. L. Hunt
Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you.
-- Carl Sandburg
We go where our vision is.
-- Joseph Murphy
You are not here merely to make a living. You are here to enable the world to live more amply, with greater vision, and with a finer spirit of hope and achievement. You are here to enrich the world. You impoverish yourself if you forget this errand.
-- Woodrow Wilson
Failures are finger posts on the road to achievement.
-- C. S. Lewis
Courage is fear that has said its prayers.
-- Dorothy Bernard
Nothing in the world can take the place of Persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan 'Press On' has solved and always will solve the problems of the human race.
-- Calvin Coolidge
The only real prison is fear, and the only real freedom is freedom from fear.
-- Aung San Suu Kyi
To will is to select a goal, determine a course of action that will bring one to that goal, and then hold to that action till the goal is reached. The key is action.
-- Michael Hanson
When you feel in your gut what you are and then dynamically pursue it - don't back down and don't give up - then you're going to mystify a lot of folks.
-- Bob Dylan
If you can find a path with no obstacles, it probably doesn't lead anywhere.
-- Frank A. Clark
The future belongs to those who prepare for it today.
-- Malcolm X
You can't build a reputation on what you are going to do.
-- Henry Ford
I leave you with this:
I have been an entrepreneur my entire life. I have used many vehicles throughout my journey as an entrepreneur and real estate is the most lucrative and leveraged toward true wealth building that I have found thus far. I started investing in real estate in 2000, have purchased well over 100 homes and currently manage more than 40 in my portfolio as rentals. I was a millionaire before I heard about Nouveau Riche in mid 2006 and have found their program to be top notch. The education has served me well, the community has greatly increased my network, the mentors have given me new goals to strive for, the personal development has given me a new outlook on life, and the marketing has been like steroids for my portfolio. Before you let someone steal your dream, get their credentials and be sure that their advice is worthy of your time. My experience suggests that most of the nay Sayers have ego’s that are bigger than their bank accounts and they are afraid that you will find something that lets you be above them. Oddly enough if they would get their ego out of the way long enough that they could actually see opportunity … well … I guess they would figure out that it never mattered whether you were above or below them … without the ego, neither actually exist!
Rick – From Beautiful Gainesville Florida
"Dreams are Reality in Need of a Paradigm Shift"
If you join the community and want to get in touch with me … just ask around … I am not to hard to find!
I believed the NRU SCAM because I was looking for a "way Out." People that say they are successful as an ISA/NRU have found ways to lie and scam others. Everything they promise in the presentation is a scam/lies. Once you become a member no one cares about your success anymore unless you learn how to flatter "the rich" women's group, one one one support to make real estate deals, everything they say are all lies!!!!
Our NRU salesman Rick above rambles on and on regurgitating all his clever sales sayings that he has learned at his NRU classes. All of these NRU salesmen are great at rattling on incessantly. That seems to be what people learn at the so called school. And the deals! Boy can these people talk about all these deals. Everything sounds fantastic and shiny!!
However, upon further inspection the NRU sharks seem to have very little hard data on investing or any awareness of todays markets. You will never hear them discuss the billions of dollars in investor capital that is being obliderated from the markets monthly.
And when I say investor the NRU thinks of some smuk who is buying property in Michigan.
NRU doesn't recognize the macro economic meaning of investor. NRU doesn't understand what SIV's, MBS, CMBS, derivitives, or capital write downs even mean. All of these concepts are what shape the values of real estate collateral today and into the future.
NRU stopping jumping up and down clapping your hands and open a newpaper and read the business section. Educate yourselves! No one but the poor suckers buy into your scam.
Act like a financial professional and start talking in the international language of professionals. Show us the numbers. Share hard data with the world. Don't jump up and down cheering yourselves on like 8th grade cheerleaders. It is meaningless and brainless. Show us any trace of brain power that you might have.
Does anyone at NRU actually have a real college education? Or are you just a bunch of fet up stay at home moms that decided to play make believe business man!?!?
Leave facts and stop spewing opinions! If everyone listened to your mentality there would be no microsoft or daytrading, and that's a fact. Guess how many people thought those ideas were scams and wouldn't work? The answer is almost everyone, yet all of us would love to have a tiny fraction of the income generated by those ventures. Every time someone risks sticking their head up and making a difference with a great idea or solution to a broken system, ignorant people like you have nothing better to do than destroy, potentially someone's only or last opportunity to change the direction of their life. As a spiritual person, I also know for a fact that people that intentionally destroy the lives of other people through their own ignorance have a payday coming, and its not pretty.
The only unsuccessful people at NR are the ones that quit, give up, or sit on their lazy butts, with the same broke thinking they had before they showed up. You get out of everything exactly what you put into it. That goes for every business on the planet.
If this isn't the best answer for the wanna be or seasoned investor that wants his or her risk mitigated, tell your blog listeners, in all your wisdom, where they can go to get anything close to the education, properties, income, or support community out there. Why don't you also tell them about all the crooked so called real estate investors out there right now really scamming people out of their money because their victims are uneducated.
By the way, let us also know what makes you the expert on the organizational business model? In detail, please explain to the blog viewers out here how NR is a multi level marketing company and send me an email at mentors4life@yahoo.com with the same info. Put your pen where your mouth is.
It's one thing to decide something is not for you...it's an entirely different thing to talk out your $&@ and destroy, what might be the only opportunity for someone else, with your own selfish ignorance.
Grow up, get a life, and be a contributor instead of a taker in life. Perhaps you can also let us all know your great philanthropic ventures with all the abundance that you've attained in your life. Let the viewers know how many people you mentor and help get out of the rat race through real estate or any other venture.
It's reported that 75% of all of America is unhappy and unfulfilled with where they are in life, personally and financially. In your humblest opinion, if you know the problem so well, give us the solution to real wealth and prosperity with real support documention. If you can't you're just a drippy faucet making an annoying noise that serves no useful purpose.
Take the challenge or shut up and stop screwing with other peoples lives and opportunities. In case you missed it, here's my email address again. mentors4life@yahoo.com I will put your reply on this blog for all to see.
Finally, I again challenge you to facts. If I listened to someone like you, I'd still be a broke General Contractor of a 68 year old company that filed BK7 three weeks ago. If I can make it anyone can. What's your excuse? As Robert Kiyosaki would suggest, where are all your multiple streams of income coming from? That's what I thought.
Richie there is no reason to have a foot stomping temper tantrum when you come across someone who doesn’t buy your propaganda. Just be patient, if you work hard and don’t let me stomp on your little NRU dreams you will find plenty of suckers out there. Just use the neat little NRU system and you will continue to wreak financial havoc on plenty of unsuspecting victims.
I cannot stop laughing at the proposition of you comparing Bill Gates’ Microsoft to NRU. That is amazing! Are you actually comparing day trading as well? So your logic here is to pick out several successful endeavors from history and claim that the NRU scam is equal. Well why stop there Richie. What about the light bulb, the wheel or fire? These comparisons prove nothing. And furthermore they are typical of the uneducated NRU salesman. I could compare your NRU to dozens of corrupt and scandalous organizations throughout history as well Richie.
Richie claims to be a spiritual man and suggests that anyone that is educated enough to see NRU for what it is will have to deal with his or her maker some day. Hmm, I don’t hear that in any business meeting that I attend in the real world. I don’t hear any priests claiming that if I question NRU legitimacy that I might go to hell. My god doesn’t condone what you are doing Richie. Please quit NRU and change churches you are in serious financial and psychological danger.
You get out what you put into it. Thanks for that one Richie. My grandmother taught me that one when I was five. Your powers of wisdom amaze me Richie.
I really can’t address your next paragraph Richie. It is more NRU rambling. Do they teach English grammar classes at NRU?
Richie, I never claimed to be the expert on the organizational model. But you do and so does NRU. What I am claiming is that I am an expert on a dysfunctional organizational model. And NRU is dysfunctional. The Case Schiller Index came out this week showing national property values down 10% in January of 2008. Advising people to invest in Real Estate now is dysfunctional. Richie you are dysfunctional.
Richie I am grown up and I do have a life. And I feel fulfilled helping people realize that NRU is a scam. This is one small way for me to give back to the community. Helping people from thieves like you is one of the many things that I like to do with my life.
Richie if your NRU sales pitch accuses 75% of Americans as being unhappy then you are the one with the problem. Go seek some help for yourself and stop worrying about everyone else.
Richie I have no interest in emailing you. You don’t need to challenge me or threaten to post my email for everyone to see. It is right here for everyone to read. Do you now understand how a blog works Richie?
Finally you challenged me to some sort of facts. The facts that you are ranting about are unclear. Again, maybe an English composition class would be more appropriate for you. What I do know is that NRU is a scam and Richie doesn’t care about anyone but himself. If you are reading this and serious about investing some of your hard earned, then go to a licensed financial planner. Read everything you can. Take a financial planning class at a community college. Do not give these people your money for a bogus real estate seminar.
Sincerely,
Proceed with Caution
AMEN!!!
NRU is a SCAM!!!
I know 6 people (personal friends) who are involved in this SCAM for a little over a year. They all tried there hardest to convince my husband & I but we saw way past it. We were always very polite about their investments & wished them the best of luck even after weeks of trying to convince them to take the money & run far far away from these SCAMMERS.
So it's been over a year now, and all they have to show for it is more debt in there life. I heard so many times that they're interested or just about to purchase some property. So why haven't they? Well they ended up telling me that their so called "Mentor" wasn't returning their calls, wouldn't follow through when they needed advise. They told me that they are now starting to focus on the "Marketing" part of NRU. OH MY GOD!!! I'm so embarrassed for them now. It sux!! I see people avoiding them now cuz they know what they want to talk about. I hear some of them talk to people they just met and act like they're your best friend & then I can see the expression of the "Victims" face once he realizes he's a target for a scam.
IT SUX ! ! !
My friends are good people they're just not too bright. They want to live the good life & be able to travel but I think now that will be delayed even more so since each one is in the hole
$20K.
Imagine what you could do with the combine money they put into this.
6 victim = $120k
Cost of airfare/hotel/car 4x for all 6 victims = $30k (my close friend said she spent approx $1200-$1500 each time)
And I'm not even including all the HOURS & HOURS & HOURS I see them attending meetings & seminars (to be brainwashed), The purchase of formalwear for their "Banquets", The business cards, flyers, newspaper ads, and so on and so on. Even if you only invested 1/4 of the cost you're still being scamed. Out of all 6 only 1 person has had a return of $3k (positive cash flow? I think NOT!)and why wasn't it $8k? Well for all of you out there saying it not a pyramid scam it's all a crock of %$#@ ! IT IS!!! I was even asked if I could help recruit someone there direction that I would get $1k. Maybe NRU says they are not because it only hands out a check to one person for $8k & it ends there but the pyramid is very much practiced within the small groups in there area.
WHAT'S GOING ON HERE!!!
My closest friend is now admitting that this may have been a mistake. She had put most of her savings into this. (she's only 25 so she'll recover) but I know she followed her heart too because her boyfriend is involved.
IT'S SAD.....
I'll be there for my friends when the day comes & I won't say "I told you so". I think they've gone through enough torment already.
Anyone out there who is thinking of enrolling PLEASE RUN AWAY FROM IT!
Excellent post!
I had the EXACT same experience with my friend.
At first it was always: I'm about to buy a rental property (never happened), I'm focusing on short sales (never happened), I'm working on buying an apartment building (never happened).
Now, almost a year later, he says the same thing your friend says, "I'm just focusing on the marketing aspect of the "business" right now."
So much for becoming a real estate investor, now he's basically an Amway salesman.
Whether it's soap, vitamins, water purification systems, or long distance cards, these scams are all the same.
How sad.
Hi anonymous,
I'm a journalist who'd like to hear more about your NRU friends and how they are doing. Please feel free to contact me at newslocker@gmail.com.
http://www.scribd.com/people/view/269707-nruscam
CHECK THIS OUT !!
Especially the 2nd page!! MLM my A$$ !!
I was approached by this crap from some close acquaintances not just once.
Does spending the $20k hypnotize you into doing whatever it takes to get your money back? You'll have better luck getting your $$$ back by doing it the old fashion way, Prositution.
But watch out for that pimp he may take your $$$ and run!!
PLEASE PLEASE PLEASE
DON'T FALL FOR THIS CRAP !!
Some of the most successful entrepreneurs were "C" students in high school and didn't graduate or even attend a traditional college at all.(myself included). You see, we as entrepreneurs knew that we were learning much of nothing in high school. Isn't it funny that the majority of "A" students and college grads would sell their diplomas if given the chance? Think about that for a minute...
The "A" students are waiting tables at the restaurants I eat at, they are parking my hummer in valet stalls, they are catering food at the seminars I attend, they are working at gas stations and restaurants I own.
The "A" students are working at Wal-Mart or McDonald's at age 80 to make ends meet. It is truly a sad sad world. It is not their fault, IT'S ALL THEY WERE TAUGHT! God bless all of the "A" students for all your hard work and going through life making slave wages.
Mr. Lee Lee,
I asked for facts and you gave me crap, more opinion and no substance.
Here's my facts...I researched everything out there for a month and a half after my wife stopped me from putting $67K down on credit cards for "The Wealth Institute", a Russ Whitney course, for their 2nd largest package for real estate investing education. When I found an NR website it was different from all I had researched and after getting through my scepticism, I layed the money down for the education...My Collection order was drop shipped the day I left for my first college. I left that week of college with a lease option class so I could turn a cash sucking property I bought in Oregon 10 years before into something that produced money. My wife hated real estate because of that property and begged me to get rid of it. I tried to sell it for years. Because it was a 7800 sq ft house on 40 acres no one wanted it. It was too big. I went from a negative avg. $1500 month and terrible renters that kept destroying my property to a $400 positive cash flow with a lease option tenant that gave me his tour bus ($35K) as his option fee and takes great care of the place. My first and only property off the Concierge service was a $31K SFD in Sterling Colorado with a $39K appraised value and tenant already in place. I lost the tenant after 3 months, changed property managers, got it rented again and gave the property to my grand daughter for her college fund. I know it's stupid Mr. Lee Lee to buy your grandkids a house and let the tenants pay for their future education or start up venture capital for a business. Wow, she even gets to put the $100 positive cash flow in her own real estate investing account. Baylie's 4 years old. Mayne she'll be an idiot like her papa when she gets older, eh? My next property was with the home inspector NR referred me to (not with NR) also in Sterling where we bought a $49K SFD for $34,500 through a negotiation class I learned at the college. Yea that college stuff just doesn't work Mr. Lee Lee. Maybe I was also stupid Mr. Lee Lee to come out of my next college where I learned the multi family strategy. I mock practiced for three days in a row after that college and on day four went on Loop Net as one of the sites recommended and found a 6 unit for $189K also in Sterling Colorado which was way under valued because the seller was very notivated to retire. The property appraised for $225K fully tenanted and we picked it up for $182K. That one cash flows over $800 after all expenses and we speak to our property manager every two months just to see how things are going. I guess I just thought it might work so I bought 2 more apartment buildings with very little of my own money in Cincinnati Ohio. I don't know what I was thinking. A business partner and I decided to start on California so we made some financing connections and we have two offers on two good size Apts, one in Long Beach and the other in a good area of LA. Both buildings will have none of my own money in them except partial closing costs and cash flow over $7K mo after debt service, reserves, maintenance, taxes, and insurance. Maybe you're right Mr. Lee Lee. I should have stayed a broke contractor and went down with the ship and the economy four weeks ago when they filed BK7. Oh, and by the way, I actually made over $70K part time referring some of my friends to the college, one example, a preacher in Phoenix that made %37K on his first short sale out of the gate and took his entire family on a cruise. He's currently got 21 under contract and expects at least 5 of those to come to fruition.
I feel very sorry for those that don't make it here, but frankly, when you get right down to it, going from JOB to business person requires a lot of work and personal development, which unfortunately, most people don't have the tenacity for and quit before they make it.
So Mr. smart Lee Lee that wants to correct my grammer (I come from very poor blue collar roots out of the hollers of Kentucky sir and I dropped out of my 2nd year of college because I couldn't hack it, so judge me if you want to), I still have no facts from you about what you do, who you help, what great legacy you're leaving your family.
In closing for you bloggers, I'm not the sharpest knife in the drawer for sure, but if a dumb contractor from the midwest can do this part time and just commit to following the system they've created,it begs the question....what's your excuse?
I wish you all the best!
This guy is with NRU? He sounds crazy!
So Richie,
How about one address so we can verify that you are the big shot that you say you are. All we need is one address and we will verify with public records if you are telling the truth!
I doubt that you will verify anything. All you are is a bogus salesman.
This guy is the typical New Rich University con artist. All he does is brag and brag about what he has done. It's all rhetoric. People who are truly successful and wealthy don't spend their time on blogs, or bragging about it.
The reason that he tells this lies is so others will be tempted to buy his program. He is probably broke and trying to make his money back. He calls himself dumb and he is dumb.
Amen...
I feel sorry for his wife!
anonymous,
what is it that has you hate NR so much? Why are you spending so much time on this topic? If people are finding wealth with NR then that kicks ass. If people are not finding wealth with NR then that sucks.
But you have to remember If they are successful with NR, they took the tools NR offers and created success. If they are not successful then they made themselfs not successful.
If you knew more about it you would understand that there is really no in-between.
That is really truly what it all comes down to. The education is second to none. The Income opportunity is EPIC!!!
Richie and Adam are obviously both NRU salesman trying to con everyone. What I can't understand is how these nifty claims that they make have anything to do with NRU being a fruad.
Adam go's on about how the A student's work for the C students and so on. Adam this is information that anyone in business heard on day one. College teaches people how to work for a living, blah, bhah, blah. What are you 18 years old taking your first Econ class at community college? You are not giving us anything new here. All you are doing is being a parrot and repeating what you have read or heard some where. Please have an original thought for once. Think for yourself!!!
Richie please buy a dictionary and look up the meaning of "facts". You spewing all over the blog does not ad up to a fact! Lets assume that I am a broke ditch digger. Does that make you feel better. Can you now keep your adult attention deficit disorder under control and debate the merits of NRU? Your literary vomit on your previous post is not factual. It is the mindless rambling of a NRU salesman.
Try giving us an address to one of the miraculous properties that you made so much money from. That would be a public record that we could verify and actually a FACT.
Understand Richie?
Best Regards,
Proceed with Caution.
One more thing for Adam. Trump went to Wharton Business School and graduated at the top of his class. Does he wash your car too?
Proceed with Caution,
Steve.
Now we're getting somewhere. Time to nail the coffin shut on this one. The saying goes, it's better to be thought an idiot than to open one's mouth, even with the stroke of a keyboard, and remove all doubt.
By the way, I don't think I'm better than anyone, but you obviously do. Here's the fact and the challenge for you naysayers.
Only an ignorant person that knows nothing about real estate would ask a real estate investor to disclose his property address to a bunch of naysayers on a blog. The first rule of real estate is asset protection, but you wouldn't know that.
The individual that puts a property in their own name is begging to be sued. There are people here in So Cal that make a living suing people with assets, or have you been living in a closet and don't read the paper, listen to the radio, or watch the news. Real estate investors where a big red bullseye on their back, sort of like the one you guys keep shooting at. Any attorney looking to help one of these low life sue happy people does an asset search before they take a case. Wow, you educated bloggers should know that.
But so everyone will know you for who you are, I'll give you enough information to find my third property which was my first apartment building. It's a 6 unit multiuse property that may or may not have been a two story building at one time, in the name of some LLC, on Chestnut Avenue, in the little town of Sterling Colorado, which is in Logan County up in the north eastern part of the state, and it was purchased last spring, maybe.
Now let's see you put your due diligence where your mouth is. I want all the bloggers on this site to stay tuned in. If you have all this time to waste slamming a company that changed my entire life, you have plenty of time to find this property.
It's not rocket science but you can find it. I'll keep checking back, but I doubt you have the courage to meet my challenge. The nice thing about it is your argument is damned if you find it and damned if you don't! You lose either way! Check Mate!
Again, I say to those of you that have lost your money for what ever reason, just look at the statistics on people that don't make it in business. NR is a business and with every business comes risk. Every real estate deal comes with risk. If you can't handle the risk, don't get in the game.
Where can a 51 year old man go that no employer in his right mind would hire, in the private sector, and for less than $20K of borrowed money have a good chance of making a go of it, dramatically increase his networth, and start living again?
In closing, you naysayers that say I write this so someone will sign up and make me money are wrong again. No one's going to get on a negative blog this and go to the college under my contract.
If they decided to go, they'd do like I did and read everything they can, do all their due diligence, and go sign up with someone they felt they could work with, become mentored by, and have the most likely success with.
It's your move. Go get the info guys! I can't wait for this one. We're all waiting and watching. You shall know the truth and the truth shall set you free, but with you guys, I doubt it. The book of Proverbs has more of the information you can relate to. I think they call it folly, the cousin to foolishness.
Utah Adam: Your website has a few problems--numerous typos, unprofessional appearance, links by IP address instead of domain name, no company name or contact information on the site, etc. In short, it looks quite a fly-by-night operation.
If you attain success, I suggest you get your site upgraded. If you fail, I imagine we'll see your site disappear.
Richard:
Are you talking about 400 Chestnut St., Sterling, CO, purchased August 1, 2007 for $182,900 (current assessed value $140,770) by RV Acquisitions LLC of 6216 San Ricardo Way, Buena Park, CA 90620 (which appears not to have a record with the California Secretary of State)?
That seems to be the closest purchase by an LLC on Chestnut St. in Sterling to "last spring" (though it's summer, not spring). It's a combination of commercial (including a tattoo parlor, if the photo is up-to-date) and multifamily units, with a total of six units, so it seems to fit your description.
http://logancountyco.gov/assessor/Property.aspx?Parcel=38052529430016&AltID=38052529430016
Richie we thank you for posting the address to your lovely, pride of ownership tattoo parlor in Sterling, Colorado. I did verify your purchase price and ownership. By the way you have an outstanding tax bill for 2007 of $805.24 you should have impounded those taxes; but NRU wouldn't want to do that it would ruin the illusion of positive cash flow. Well, that’s another story.
I ran an AVM on the property and got a number back of $179,080 so you appear to be close to break even, as long as you don't have to sell. If you do have to sell the seller side of the HUD-1 should reflect your closing costs of about $15,000. That’s assuming that the tattoo parlor doesn't have any deferred maintenance!
Richie, my biggest concern here is the advice that you get from NRU. The advice that you then repeat to anyone who will listen. The problem is the total lack of accuracy, education, hard data and common sense. I say this because I know more about this business in my pinky finger than anyone at NRU ever will. I care about people and I to want to see people be successful. What I care about more Richie is helping people avoid loosing money! Rule number one in investing is do not loose money. Rule number two is don't forget rule number one. There's another clever saying for you to repeat Richie, I know how you like to impress people with those sayings.
The median price paid in January for all homes combined in Sterling Colorado was down 5 percent from December 2007 and down 9.7 percent in January 2007. Last month's median was 15.2 percent lower than the peak median of June 2006 and was the lowest for any month since September 2002. I imagine that you are scratching your head Richie. What this means is that your property is not an asset but a liability. It’s loosing money faster than your collecting rent! And if you start crying about the facts call Dataquick they provided the information. Also check the S&P/Case-Shiller Home Price Indices. Richie this is the real deal info. You can't polish your real estate turd with some flashy NRU sales slogan!
Warren Buffet liquidated all of his U.S. real estate holdings in 2005 before the market peaked. He then moved them into Euro and British Pound forex contracts. Why because he doesn't want to loose money on a depreciating US real estate. This is the trend that the smart money around the world has followed. Except NRU; I guess they are smarter than Warren Buffet.
Richie with the current international credit crisis and the looming recession your property will drop at least 10% per year for the next five years. Let’s see how your fake positive cash flow helps you out a few years down the road when your $50,000 out of pocket. If I am in the market for a run down tattoo parlor in Sterling, Co in five years I will look you up and offer you $75,000.
A smart investor would not buy now. An NRU investor would say "its best to buy when it is on sale". Richie have you ever heard the phrase "catching a falling sword". It refers to buying in a declining market. Novices buy as prices go down until they get hurt. Pros buy as the market is on the upswing and always do well.
You NRU guys need to buy Investing for Dummies for $14.95 and save your NRU tuition.
NRU = Novice!!!
Regards,
Proceed with Caution
Jim Limpard,
I appreciate you taking the bait. on two fronts. Without history or knowledge, you and Lee Lee like to cut people down. I think you two really get off on it. Your like two crabs in a bucket that will never let anybody free from your bucket of criticism.
Watch the website for a while without prejudging it. It's only been up a very short time and pressure from the viewers on the TV show, Mentors4LifeLive, requested it for some of the info. It may have been premature but the audience dictates the success of a TV show, not the critical bloggers that really have no life. FYI, I have a BNI meeting in the morning with Ashley to have the web developer make the needed corrections and updates. I want all the Bloggers on this site to watch it grow, so here's the URL www.mentors4life.org
Now Mr. Limpard, about the property. Congratulations on your ability to find the information. Now let's take the test a little farther so all the bloggers here will know the truth.
You guys have been spouting off how stupid NR people are, we really don't make any money in real estate, the education is crap, all we do is recruit into some pyramid scheme, and we don't have positive cash flow property. Here's your chance to prove it.
Since this is my first apartment building one week out of my first class, I'd like you to explain to the bloggers how bad a deal this one really is, what the actual value of the property is (not the assessed value, which is a tax basis, we're not that stupid), how you arrive at that number, what you estimate the debt service to be at 6.25%, expenses, reserves, and cash flow. Check Mate!
While you're at it, explain in detail to the bloggers the pyramid structure of NR. Explain how many downlines you must have and the percentages one earns on each generation at each level.
I can't wait to see that one. (I wonder how different we are than any other college promoter running around trying to get people to go to their college so they can get paid. There's only one difference and that's how much more we get paid to do the same exact job)
Try not to babble this time about how we NR sales people always say the same thing and put your pen where your blog is so we all can see how informed you really are.
I'll check back tomorrow Jim.
Rick,
I think you're confused about who has the burden of proof, here.
You're the one claiming that NRU has helped you make tons of money. It's up to you to back up that claim with verifiable facts. It's not up to the skeptics to prove you don't make the money (though sometimes that's not too hard).
Meanwhile, if you're actually interested in a discussion of why the MLM-like aspects of NRU are unsustainable, you can read that here. In a nutshell, it makes no sense to saturate a market with your own competition, which is exactly what NRU recruitment does. It very rapidly arbitrages away any excess profits that real estate investment might provide the investor.
Hey, this is fascinating!
"Nouveau Riche University is now Nouveau Riche"
They've dropped the "University".
If it's all about the "education" then why do such a thing?
Rick/Richard: Unlike you, I'm concerned with accuracy and honesty. You can't even be bothered to spell my name correctly (or was that merely a childish insult on your part?).
I'm not interested in your TV program, and I have only a passing interest in NRU. I think it's obviously nonsense, my only concern is that I'd like to play a small part to prevent people from being suckered by it. I have made both a vocation and avocation out of combatting various kinds of nonsense and deception.
My concern is not to combat success--I am a huge fan of entrepreneurship, individual liberty, and personal financial responsibility. But NRU looks to me like a cartoon caricature of entrepreneurship, promoting get-rich-quick ideas which are at odds with personal financial responsibility and integrity.
How do the NRU guys have enough time to put posts on the internet if they are busy making real estate deals or if they have money they should be enjoying it. They claim money changed their lives, well for them they are deceptive and the disease feeds on money the more money the worse it gets. Any millionaire I know spends time either still working physical labor, or owning a company being productive all day, not being lazy and selfishly deceptive like the NR representatives I met. Great blog it would be better if the useless information from NR supporters could be deleted, we heard enough about the scam if we attended the seminar, we don't need more sales pushing it on the blog revealing the truth.
Per the United States Dept of Education and the Western Association of Schools and Colleges (WASC)there is no and will not be any accreditation for NRU. They do not fit the criteria for a higher learning institution.
These two organizations are the ones who would determine if a school would be eligible for accreditation in the state of Arizona.
There are other "for sale" type private accreditations available but those are not recognized by the business community or other schools. I would imagine that NRU will buy some worthless accreditation and then make the false and deceptive claims about it. This would be typical for NRU.
Most NRU salesman are not bright enough to actually research what an accreditation actually means. Accreditation, investing, real estate and basic math skills are beyond the comprehension of the average NRU salesman.
Proceed with Caution
LOL Jim Lippard,
Thank you for confirming my point! I am a "C" student! That is why my website is shitty. The funny thing is, My website has made me very wealthy. Keep it simple and to the point and you will find success!
Listen, all you have to do is check the numbers online. 76% of NR students obtain properties as a result of attending our college (myself included). With a 76% success rate, NR is in the midst of becoming a fully accredited University. The same people that set up the curriculum for the "University of Phoenix" is working our curriculum. We will be the first ever FULLY ACCREDITED Real Estate Investing/Entrepreneurial University in the next few weeks. The stats don't lie! Now that I have made my self clear, you wont have to read my posts anymore. I have done my part for defending my company and my success good luck to all of you.
Anyone concidering joining NR feel free to contact me via my webpage O U T ! ! !
I don't understand. If I discovered a great opportunity that was making me a lot of money, I wouldn't spend my time begging others to join to increase my competition. I would keep my mouth shut and enjoy the wealth.
The only reason these NR people so vehemently defend NR is because they have a vested interest in other people joining. Is that so hard to figure out?
One other thing, does NR teach a special class on clichés and catch phrases? I feel like I’m reading a Tony Robbins book when I read these blogs. Do you guys walk on hot coals too? NR seems more like a cult than a university.
check it out!
http://nouveauuniversity.org
.
You NRU people are killing me! Your organization is applying for license to be a private so called school in AZ.
I can start a so called school in my garage teaching people how to make millions mowing lawns. It may be legal but it is not an accredited university.
Throwing up a $5 a month web page and claiming that your a university is of no value. Anyone, I repeat anyone can do that.
Stealing someones money is reprehensible. To me what is even worse is that you thieves will lie directly to someones face claiming that your scam factory is "fully accredited".
Stop lying NRU! Anyone who is reading this blog can contact the Western Association of Schools and Colleges (WASC) and hear for themselves how these scum bags are breaking the law and lying to you by claiming full accreditation.
Furthermore, they are not applying for Accreditation. They are applying for the equivalent of a business license for a private school. That is not accreditation.
The minimum standard in the United States is a regional accreditation and in Arizona that regional accreditation agency is the "Western Association of Schools and Colleges."
NRU cannot make anything up or use any of their slick sayings to dispute this. Employers who require a degree from an accredited school will not accept an Arizona State Board license.
Again this is blatant lying by NRU.
HA HA
proceed w/caution said:
"Employers who require a degree from an accredited school will not accept an Arizona State Board license"
You don't get it do you? The last thing NRU is trying to do is to make it so employers will look at the NRU degrees as fully accredited. And students of NRU sure as hell don't care if some employer thinks that the degree they hold is legit. We are investing in real estate for our selfs not for some employer. the whole idea behind NRU is to get as far away from "the every day job" as possable.
76% of NRU students are holding properties as a rusult of the income they are bringing in with our company and as a rusult of the education they are getting from attending the university.
Finally we have a NRU salesman admitting that the University education from NRU is not legit. He claims that the students don't care if employers think it's not legit.
That is brilliant. Please, NRU representative continue to tell everyone that the so called quality education is not legit. You are doing a great service to the community by being honest.
You make me think that NRU has some hope for honesty and integrity.
Thank you.
Proceed with Caution.
76% of NRU students are holding properties as a rusult of the income they are bringing in with our company and as a rusult of the education they are getting from attending the university.
I've seen this stat bandied about in multiple places, now. I do, however, have to say that the other versions read a little differently.
This one seems to imply that 76% of NRU students are successful marketers of NRU itself, and then use the profits made from marketing NRU to buy investment property (that is, furthermore, a positive ROI).
The wording of other versions of this statistic allows a more broad interpretation, along the lines of "76% of NRU students have owned a home at some point."
Source, please?
As Steven Wright used to say, "98% of statistics are made up on the spot" -- and this particular statistic seems highly suspect.
WOW
Earn your Associates of Science or Bachelor of Business Degree
WOW what?
So you put a link to a bogus NRU web page. Does that mean anything.
Your meaningless web page shows us in writing that you have conditional approval from the state of Az.
That is not accreditation. Another useless post from a NRU salesman.
Love this website and the free discussion it promotes. I hate plugs but there is a brand new (nouveaucommons.com)that also discusses Nouveau Riche. It is for members and non-members alike to find out more about it, discuss it, and to share real estate investing tips, etc.
That aside, I looked pretty hard at Nouveau Riche and decided that it's not for me (there are other things that I would rather do as a living... money isn't always everything); however, I know several members of Nouveau Riche that are doing great and love it - I think everybody can be successful as long as you do what you enjoy. If numbers and real estate intrigue you, you will do great at investing (I hear that the education can be effective for those that applythemselves).
Claye is a shill. Must be a NRU tactic. The shill says that he decided to pass on NRU, then follow that with the claim of knowing a few friends that love it. Finally, compliment the education.
Come on NRU Claye! Go back to the drawing board and figure out a better pitch.
You are a transparent shill.
Also, Claye has poor grammar skills. That is a dead give away that Claye is a NRU salesman.
More evidence that Claye is a shill: He didn’t turn down NR because it’s a total scam. No! He turned it down because money isn’t everything to him. See, that’s his not-so-subtle attempt to have us equate NR with making money. The truth is NR doesn’t make you money, it takes your money.
The sad thing is that these tactics work on the uneducated and vulnerable…NR’s prey.
Nice try Claye, but your unbiased website you reluctantly promote is so clearly backed by NR it’s ridiculous. Is anything you guys say or do truthful?
And will you please drop the word University from your propaganda? It’s insulting to those of us that really went to college.
Yeah the typo is my bad - but if I was really involved with NR I would want people to know that so I could enjoy a nice commission from their tuition package n'est-ce pas?
You will probably find this interesting though (I did): I bought the domain while I was deciding whether or not to make the jump so that I could see and evaluate more discussion about NR. Before launching the site, I contacted NR to ask for a license to use their logo on the website - in an email I explained that I would make it clear on the site that I was not sponsored by or affiliated with them (to avoid any trademark infringement issues) and they got back to me the next day. The decision? They didn't want me using their logo, period. No reasons, no chance of getting a license, even under specified conditions.
It's not illegal to use registered trademarks on websites as long as it is used to identify a company and not to confuse users about who owns and runs the website. So now the site is riddled with disclaimers that are distracting but necessary. My intention was never to deceive users that the website was part of NR anyways, but I wanted to establish a legal relationship if possible.
I replied that their decision is fine with me - I will just take the necessary measures to not violate any trademark infringement laws.
The weird part is that any legit company (in my mind) would want people to promote brand and product awareness by mentioning them on blogs and websites... apparently NR was concerned about a website that promotes free discussion about their organization.
I want to remain fair in my posts so I'm not going to bash them but I will admit it's a shocker. Maybe their marketing team (is there one?) has legit reasons for refusing a use-of-trademark license . Heck maybe they are in the middle of designing a new logo - I sure hope so because the current logo and brand looks like it was designed by a high schooler.
I wish I were a clever enough salesman to come up with the ideas you suggested that I riddled my post with - maybe if I were, I would join. I admit that might have talked up NR a little too much because I was probably trying too hard to be fair because that's the goal of the website.
proceed with caution: I'll make sure to double-check my blog posts from now on. I didn't know I was writng for an adience with sch high expetations.
Total SCAM! Why would anyone making millions would want to share their secrets with the rest of the world?
Clearly, this is a pyramid scam and the way they make their money is by charging $16,000-$20,000 for these lame courses and bringing new people in.
In this real estate crisis, there is no bank/lender out there who is financing anyone unless you come up with a minimum of 20% + and a credit score of 680+.
How are these people claiming that they are making so much money on short sales with no money down?
I handle premier banking at a well known bank and I'm also married to a real estate attorney, and I can tell you that this is a SCAM!
Save your money! You want to get into real estate investment. you don't need to pay anyone money to learn how to do it, get educated first before losing your money.
I think a lot of people are confused.
It isn't a question of weather NRU is a scam or not. NRU is what it is... NRU is very open at what they do and how the people with the community are so successful.. no secrets... no rip offs... it's all out there.
Now if you're asking the question weather or not it is right for you, then that is understandable.
The fact is, read through this blog... you will notice that not one negative post about NRU has been from someone that has dropped the $20K for the education and feels scammed or ripped off.
What NRU teaches is to have a cash producing business that is bringing you $20k+ a month and then go out and buy real estate. We strongly urge people with our community never to obtain properties until you have attended our college (so you know what the hell you are doing) and also until you have a cash producing business to support your real estate.
How do you start a business that is producing that kind of income? ha.. funny you should ask!
NRU has two sides to its company. A marketing side and a real estate side. It is brilliant really.
You see, our college teaches a number different real estate strategies so you can be well versed in real estate for what type of strategy will work best for the current market. For instance, right now the short sale, 1031 exchange and rental market is huge. So if you are educated in them and you have a cash producing business you can feel confident in yourself to pull the trigger. The fact is, the market is going to fluctuate up and down and left and right. If you are educated in 10-20 different strategies then you can fluctuate with the market.
Oh yeah, last post said: "How are these people claiming that they are making so much money on short sales with no money down?"
Clearly you do not understand what a short sale is or you would know that you don't need money to do one! (one would think you would understand that. Being married to a real estate attorney and all)
How can you use the words “business” and “university” when referring to anything that has to do with NR? I own a business and I went to a university. Misleading people with false claims and prewritten scripts into joining NR to make back the money you lost is not having a business, that’s called running a scam.
Charging people 20k to attend sales seminars does not qualify as attending a university either. I’ll be generous and say that maybe NR could qualify as a vocational school, but a university? Please…
I see two HUGE problems for NR going forward. #1. The lure of the real estate market is over. I don’t think I need to explain that point. #2. You can get away with a lot more when you fly under the radar. The more notoriety you get, the more scrutiny you get too. Something tells me that NR wouldn’t welcome a thorough and unbiased investigation of their claims. I see a Dateline or 60 Minutes story in NR’s future…
Well there are talks of "NRU" and "The University of Phoenix" being guests of "The Oprah Winfrey Show" togather. I guess if there is any scrutiny of "NRU" it will soon be seen on national TV.
The June/July issue of Success Magazine will answer any questions you might have about the Nouveau Riche University and its accreditation.
The above NRU salesman claims that there are a lot of people confused. After reading this blog it appears that there is no confusion. Everyone seems to be unanimous in the conclusion that NRU is a TOTAL SCAM.
Our NRU shark claims that the question is not whether NRU is a scam or not! Perhaps he cannot read. The name of the blog is “Is Nouveau Riche University a Scam?” The claim that NRU is a SCAM is the precise question and purpose of the blog. And if the NRU salesman read the postings he would see that everyone thinks it’s a scam even the ones who have fallen for this scam.
Now, if you're asking the question whether or not it is right for you, then stop reading now! I am here to tell you that these people are ignorant of the most basic of investing rules and business practices. They are only here to rip you off and sell you a useless real estate education that you can get for free at the library. They then will give you a false sense of security to go and buy the rapidly depreciating dregs of the current crashing real estate market. Further more they will try to convince you to liquidate your retirement savings to pay for their expensive fees. These people are thieves!
It is not a University and is not accredited. Tricking people to buy into your pyramid scam so that you can take half their fees is not a business. Tricking people into buying depreciating real estate assets in a rapidly declining market is wrong. Telling people that they are getting positive income when they are really paying for the rent themselves out of the loan proceeds from the initial purchase is a crime. Convincing people to buy the worst real estate inventory in the entire United States in areas like Michigan is taking advantage of people so that you can charge them fees.
These people are criminals and only care about getting your money. Please don’t fall for their scams!
Another thing that I can’t get over is how these freaks keep on going on about the educations content. They go on about short sales as if they found the cure for cancer. It is just a short sale, banks have been getting rid of upside down properties in declining areas since the depression. There is no mysterious secret about this. Google “REO” and you will get a list of every bank in the United States, including Fannie Mae. Here you will find lists of their bank owned real estate. Real estate that they are desperate to unload and take note of the FREE realtor contacts as well. The bank pays the fees on the transaction. You don’t have to pay NRU some ridiculous fee for doing this for you.
There are tens of thousands of experienced realtors handling the short sales and loan modifications for Countrywide alone! The loss mitigation and work out departments at banks across the US are overwhelmed with people trying to get out of their overvalued properties. Thirty percent of realtor business is expected to be from foreclosures and short sales. Realtors work for you for free. You don’t have to pay them $20,000 like you do NRU. People are you really that dumb that you are going to pay $20,000 to learn how to buy a house? Its more difficult to get a job as a waitress then getting into real estate.
NRU is the biggest joke there has ever been. Don’t let them make you into an idiot!
When selecting a distance learning college, your best bet is to choose an online school accredited by one of the six regional accreditors. These regional agencies are recognized by both the United States Department of Education (USDE) and the Council for Higher Education Accreditation (CHEA). They are the same regional accreditors that grant most brick-and-mortar public and private universities their accreditation.
To determine whether or not an online school is regionally accredited, find out which state the online program is operating from. Then look to see what regional agency grants accreditation to schools in that state. The following regional accreditation agency is recognized as the legitimate accreditor for Arizona:
The Western Association of Schools and Colleges (WASC), a 501 (c) 3 organization, is recognized as one of six regional associations that accredit public and private schools, colleges, and universities in the United States.
NRU do you now understand that the WASC is in charge of accreditation?
Not success magazine or Oprah!!!
If I am ever applying for a job I will be sure to mention Oprah as a reference on the education section of the application!
You NRU guys are some of the slowest people that I have ever come across.
Just get the next issue of Success Mag. I have a copy in hand and I am sure it will answer all of your questions.
People with NRU are not worried about some employer asking for references, THEY WORK FOR US.
In other words, there is no need for us to tell an employer that Oprah or Success Mag backs us. It does however show credibility for our company.
You people are pathetic morons!!
Of course NR should be in Success Mag. They are successful. They are successful in suckering so many people at giving/making THEM money to make THEM wealthy in a way where you feel like you're actually making money.
Oh and by the way anyone can pay a magazine a good amount of money to write an article to make them look good.
HAPPY 420 !!!!!
Why don't we all relax & smoke UP!!
I got a early copy of Success Magazine. The title of the article is:
NRU stands for "Not Really a University"
>>>Anonymous said...
The June/July issue of Success Magazine will answer any questions you might have about the Nouveau Riche University and its accreditation.
April 17, 2008 1:53 PM
>>>
Actually many, many MLM companies are featured in this magazine. It's a magazine sold exclusively to peddle this bullshit and give a false sense of accomplishment, or credibility to the companies it "features". They go as far as having Robert Kiyosaki on the cover talking up the MLM scams. Don't be suckered by this ploy, people.
Oh, and since you mentioned it, NRU is now known as NR after dropping the "University" portion of their name. And they'll never get a real accreditation because they don't have certified professors, for one. Stop blowing smoke up our asses.
cbuvriI just got an email from Jim Molina in Customer Care at Nouveau University this is what he wrote AND I quote "Nouveau Riche is not an accredited University. We are working on getting Nouveau University accredited but it is not accredited currently. When it becomes accredited you should be able to sign up for financial aid, however we do not have an ETA on when Nouveau University will be accredited." Did any one else here attend the meeting last week weds? I heard Jim Piccolo with my own ears rally the crowd by saying that the University was now accredited. He later introduced the man who IS the head of the financial aid dept. He also showed all the plans for the college campus to be built at I-10 and the 101 here in PHX (in 2010) which is cool and all but how in the world is it going to effect anyone who is currently attending "classes" or anyone they sign up in the next several months to a year. I didn't get the point of why everyone was sooo excited. OH, and there is a little issue with the permits to build on the mountain they have bought-it seems the Deer Valley airport has issues with a building or a community in their flight paths. So, there are plans but no permits or actual documents of proof. Also, do you all think that it is ok for someone (a man)to use his (3rd) wife's prior last name to buy properties in Maricopa County? Just wondering? Are alias' legal?
Anonymous - 'Think and Grow Rich' is by Napolean Hill NOT Ford!!! But one thing that Herry Ford is famous for saying is…
“If you think you CAN do a thing or think you CAN'T do a thing, you're RIGHT.”
The rest of the negative opinions on here are clearly stated out of IGNORANCE and FEAR! It is no wonder so many of you will never achieve anything more than a pointless life of reading and writing blogs!!! All of you non believers and self doubters are only limiting yourselves! I feel bad for you ALL.
The negative commentary on Nouveau Riche and newly accredited Nouveau University is all the opinions of people who are undoubtedly uninformed pessimists’ at heart. I know the truth, as does the rest of the Nouveau Community, but I am not going to waste my time trying to convince you people of anything.
I do, however, recommend that you start reading some of the books Anonymous mentioned. Start with ‘Think and Grow Rich’. Maybe if you start there, you will begin to see my point, which I am sure you can not see now because of the narrowness of your minds!!!
Wow there Wake up. Why don't you try it. Nouveau Riche is NOT accredited-repeat NOT. I was told so by someone who works there ... or maybe they don't ... maybe they are a figment of my imagination too! WTHeck? "You can achieve ANYTHING if you sacrifice ANYTHING" should be the Nouveau saying. THE TRUTH IS A SCAREY THING!!!!!!!!!!!!!!!!!!!!!!!!!
Boy you are even denser than I thought! Nouveau Riche is not accredited because they do not offer general education requirements. Because I am fairly sure you did NOT go to college, let me explain this for you in simple terms. General eds are things like English, math, and science.
Nouveau University is, however, on the list of schools at the Arizona Board for Private Post Secondary Education. Oh but that’s right, you don't feel these are REAL institutions because they are not accredited with The Western Association of Schools and Colleges (WASC). Well try again, because "...the Western region covers institutions in California and Hawaii, the territories of Guam, American Samoa, Federated States of Micronesia, Republic of Palau, Commonwealth of the Northern Marianas Islands, the Pacific Basin, and East Asia, and areas of the Pacific and East Asia where American/International schools or colleges may apply to it for service." Now I know that you are challenged, but do you see Arizona on that list???
If you are going to state opinions as facts the least you can do is do accurate research! So like I was saying, Nouveau University is going to offer degree programs in Accounting, Finance, Marketing, Small Business Management, and Real Estate Investing. They are listed in the Directory of Licensed Educational Institutions with other "fake" colleges like University of Phoenix, Midwestern University, Prescott College, Kaplan University Online, and so on. The Arizona Board for Private Post Secondary Education “…licenses and regulates 184 private postsecondary educational institutions operating vocational and degree programs. These private colleges and universities served approximately 321,000 students.”
The links to both The Western Association of Schools and Colleges and Arizona Board for Private Post Secondary Education are below. Now in case any of you slow people go to the latter to verify, the institutions are listed in alphabetical order so you might have to scroll down a little.
http://azppse.state.az.us/directory.html
http://www.wascweb.org/
Arizona used to be accredited through the Western Association of Schools and Colleges but this accreditation is now handled by the North Central Association of Colleges and Schools. And if you go to their web site or any other of the six regional accreditation agencies authorized by the US Dept of Education you will find that there is no mention of a NRU. Thats because no one will recognize NRU as anything but a scam.
The only thing that our superstar bright NRU salesman who goes by the positive name of "wake up", needs to know is that the school is total snake oil. No one would ever take this school serious except total idiot, fool, suckers who can't think for themselves.
Do these morons really have to read "Think and Grow Rich" to fake having an original thought? An education is about helping you learn how to think for yourself not become a mindless parrot who can only repeat what these MLM gurus tell you to think and say.
NRU is for failures who haven't been able to make it in life. NRU students are weak and easy prey for these type of MLM scams. And the sad thing is this is not going to compensate for a life time of failure. NRU only provides a temporary sense of worth for these pathetic losers. After a few years these poor souls will realize that they were all had by a bunch of clever wanna be businessman.
I only hope that they have the basic common sense skills to learn from their mistakes.
Proceed With Caution
You are truly pathetic! Your life must be a terrible disappointment, and for that I am sorry! But you should not take that out on people that you know absolutely nothing about!
If you think that Nouveau Riche is a scam that is your opinion and you are entitled to it. You do not, however, have the right to call people names and presume that they are “losers” and / or “failures”. Your opinions about Nouveau are just that – opinions! And now you are festering so much discontentment that you are forming opinions about the thousands of people associated with Nouveau.
Thousands of people across the country believe in Nouveau! Thousands! They come from all walks of life. I personally know several doctors, attorneys, executives, engineers, real estate professionals, and I could go on and on. They all stand behind the education that Nouveau provides. These individuals have experienced the education. Have you??? They ALL take it seriously, yet you say that “No one would ever take this school serious except total idiot, fool, suckers who can't think for themselves.”
Then you go on to bash Napoleon Hill’s most famous book! Think and Grow Rich is one of the best-selling books of all time. It inspires original thought, yet you say that people read it in order “…to fake having an original thought.”
Again I emphasize that you are uninformed pessimists’ at heart! But it is OK because you have your place in the world.
“Great spirits have always encountered violent opposition from mediocre minds.
Albert Einstein
And I do not use quotes due to lack of original thought…I just read a lot of quality work. I read things by great thinkers that have said it best.
Ok-scam or no scam, I need an answer to my question. Say "Joe" marries for the 3rd time. Joe buys houses/properties. He buys houses under Joe I. Blow, Joe Blow and Joey Blow-all could be considered the same guy right? Legal but barely (in my opinion). Then Joe decides to use his current wife's old last name as his last name and buys more houses/properties/whatever under Joe E. Smoe. Is this legal???
NRU is a scam and will never be accredited that was the point of my last entry. There are six regional agencies in the United States responsible for monitoring accreditation. And not one of them has or ever will recognize NRU as anything but a bogus school. That was what we where debating used car salesman man!
Only an NRU salesman would consider what I do as pathetic. I spend time trying to protect the public from criminals like you. Intelligent, experienced and educated individuals like me see you and your organization as criminal. I have already seen the financial devastation that you morally reprehensible rats leave behind. So yes, I glow in the pathetic light of helping people protect themselves from the NRU vultures.
I have all the rights in the world to call NRU, its associates and any students that have been dumb enough to pay these gypsies their hard earned money, total idiots! Anyone who is stupid enough to pay $20,000 to learn how to buy a rental real estate has serious mental deficiencies. $20,000 to learn how to buy real estate! Just say that over and over a few times. How could you not feel like an idiot paying for information and services that are almost free to everyone else in the world. If you are an NRU student you are STUPID!
Our NRU salesman tries to make the argument by telling us how thousands of people across the country believe in NRU. Thousands, he says! Attention NRU idiots! The fact that thousands of people do something means nothing. Think, use the few functioning brain cells that you have left! Thousands of people are addicted to drugs all over this country. Everyday doctors, lawyers, teachers, bus drivers and pilots are doing drugs. Does that make if right to do drugs, because thousands of people love to do drugs? Charles Manson had thousands of followers and so does NRU. Idiots, suckers and fools!
Have I seen the education? First of all it is not an education. Going to the library and reading about real estate and talking to some real estate agents would be more of an education. Oh, and that wouldn’t cost $20,000. I have seen the education and I have seen NRU sucker a friend out of $20,000 for the worthless propaganda. Real Estate is not an asset at this time in the US. Real Estate is depreciating, therefore it is a liability. Do you teach the meaning of liability at your scam of a school?
Don’t try to fool us NRU. You prostitute great authors like Napoleon Hill to help you steal people’s money for your worthless MLM scam. You are no different than a bank robber. The books that you reference are your guns, and the quotes that you parrot over and over again are your bullets. The funny thing is that to people who have read those books, some of them decades ago, you don’t’ impress us. You actually sound like you are straining to be perceived as intelligent. The more you try with these cute little quotes the more uneducated you sound. This pattern of NRU salesman repeating these nifty quotes is another sign of a weak minded loser.
And you do use quotes due to an inability to think for your self. You want to look, feel and sound smart so you try to impress people with your quotes. Go listen to some interviews with Warren Buffet do you hear that garbage flowing from his mouth all day long. No you don’t because he can thing for himself. NRU students are sheep that deserve to get ripped of if they have been warned and still can’t think for themselves.
Don’t be an idiot. Think for your self and slam the door on the NRU salesman!
This is straight from Wikipedia: The company claims revenues will top $80 million in 2007, and receives revenue from tuition, commissions on properties sold through affiliated company Investor Concierge, and fees from additional associated companies through sales of ancillary services to students.
Not only do they bend you over for the tuition, they keep upselling you until you’re dry. Brilliant!
Is it just me or is there a slight conflict of interest that they are making commissions on the scams, I mean deals that they recommend their students buy through the Investor Concierge?
I also have a question for “Wakeup”. You’re clearly more than just one of the disciples. Are you one of the founders? If so, are you the guy who got busted for insurance fraud or the guy who was involved with Amway?
Kudos Anon!!!
Anonymous - Thank you - I think? By saying that I am "...clearly more than more than just one of the disciples…” I think you are giving me some credit and acknowledging that I am not a total idiot, like proceed with caution seems to think. I am very sorry that I ever engaged with this blog. It is terrible and I can not stand the blatant negativity.
I am thrilled to be a part of Nouveau, regardless of what any of you may think! I think the community is phenomenal! But I realize now that I am wasting my time trying to convince you that there are wonderful, intelligent people that believe in Nouveau.
And proceed with caution – you are not doing anyone a service. Maybe that is how you justify your assumptions and insults. You can’t even seem to make a point at all without cluttering it with offensive and unnecessary verbal abuse.
But now I think I know why you are so vigilant. You had a friend get burned. For that I am sorry; I can understand and even respect that. But so that you know you are taking your frustrations out in the wrong way and on the wrong people. I am assuming that your friend was “sold” a dream. The individual that got your friend involved was the one that wronged that person, not the entire community.
Nouveau offers entrepreneurial courses and real estate investment strategies in a comprehensive college format. Donald Trump and Robert Kiyosaki offer education as well but their programs cost way more than Nouveau. Trump’s cost $90,000 and Kiyosaki’s cost $40,000and neither have a community or access to properties.
So back to your friend, it sounds like that person could not afford the education, let alone any investments. Also, your friend may not have had the support needed to be successful marketing. Or maybe that person just listened to YOU and YOUR B.S. and that is why he or she was not successful. Who knows?
The point I am making here is that Nouveau is not right for everybody. $20,000 is not that much money for a lot of people. But $20,000 is life altering to others. I work with people that often make $100,000 + a year at their JOB. They are slaves to their job and are seeking a way out. They have the resources to invest and are willing to pay for convenience. They seek me out because of my knowledge and experience. I am a Real Estate Professional with broad experience in all aspects of transactions, financing options and investment strategies. You are so quick to insult people, when the truth is you do not know ANYTHING about me. I have never sold a used car! And I have never taken advantage of anyone, financially or otherwise!
And so you know, I don’t have to strain to illustrate my intelligence. Yet another unconfirmed assumption from proceed with caution! You, sir, do NOT know me. You did not even know that you are spewing your profanity at a lady!!! Maybe your mother taught you that!
Wow "Wakeup", at first I thought, how could anyone be so dumb as to take my comment as a compliment, then I remembered that you willing gave $20k to a company run by con men. It all makes sense now.
I love when they say that NRU is not for everyone. That is another cookie cutter response when someone finally understands that the organization is a total fraud designed to steal money.
NRU knows nothing about real estate or investing or making an argument.
"Wake Up" you are not a real estate professional; you are a common hack real estate agent at best. And also you are not a lady. Ladies don't scam people out of $20,000 to learn how to buy a house. The fact that Trump or someone else is screwing people for more $$ doesn't mean that your scam is legit. Learn some basic 7th grade logic you idiot!
I hope that some day you and your thieving associates are convicted and see some real prison time!
I no longer feel the need to justify myself and my company. You and your minions have done that for me!
I believe that everyone is entitled to their opinion! I also believe that there is nothing wrong with healthy debate! But this blog has become a complete joke!
The person who posted this blog has opinions about Nouveau Riche. I do not agree with those opinions, but I do feel that he or she posted them with clear intention and evidence that supported the claim. Some of the facts were wrong, but that is beside the point. The person who posted the original blog posted their opinions and ended with questions, leaving the topic open for debate and discussion.
After the blog was posted the heathens started to surface and the commentary took on a life of its own. It went from being a healthy debate forum to a feeding ground for the scum of the earth. These people do not debate with facts! Instead they ATTACK any and everyone that does not believe what they do. They INSULT and DEMEAN any and everyone that is part of the Nouveau Community. Whatever facts they attempt to present in support of their case are obscured by their VICIOUS VERBAL ASSULTS.
Again I emphasize that the negative opinions on here are clearly stated out of IGNORANCE, FEAR, and ANGER! These people live to antagonize anyone who disagrees with their way of thinking. They are PESSIMISTS, CYNICS, and FASCISTS!!!
I only hope that anyone who stumbles upon this blog, and more importantly the commentary related to it can see the TRUTH that these people are CRUEL, MALICIOUS, and IMMORAL. They claim to be doing a public service; they claim to speak the truth. They may have started with good intentions but they now have become fraudulent fools that spread their PROPOGANDA through HIPOCRISY!
Wake up your post is proof that this blog works. The more a NRU salesman is pressured or scrutinized the more likely it is that they will explode like you have.
The reason that you explode is not me. It is either you are slowly realizing that you are part of a scam or you are feeling the frustration of being unable to defend your NRU criminal empire with proper argument.
The people on this blog who feel strongly about your unethical behavior are not Fascists. I find your accusation of us being Fascists amusing. Fascism is a political philosophy, movement, or regime that exalts nation and often race above the individual and stands for a centralized autocratic government headed by a dictatorial leader. How is a group of individuals concerned with protecting the public from NRU Fascists? I would more accurately describe us as consumer advocates. This isn't your fault though; you are probably a real estate agent who didn't graduate high school. Maybe you focus on your G.E.D for a while!
I apologize for the verbal insults. The problem is that when you steal from people you upset people and they lash out. I promise to stay on point and continue to show the readers factually why you are a criminal.
Now back to your anger. I am really concerned for you. Take just a moment and feel that anger pumping through your veins. Feel it, feel that blood pressure? Now imagine you are a single mother of 3 who just liquidated her retirement fund to pay $20,000 to go to your scam of a school. Then she pumped fresh capital into this declining real estate market, in Michigan the worst state in the nation for value. Once she realized that she lost everything her anger was 10x yours "wake up".
She is out $100,000 and she is angrier than you. She was lied to and taken advantage of. She was the financially naive mark that you vultures hunt. Try to imagine her anger!
You NRU salesman need thick skin as you continue to rip off people’s friends and families. As you reap financial devastation on families you will make enemies along the way. So toughen up and get ready for the insults. Just keep thinking about those checks that you will cash of the backs of the financially weak.
Hey guys, let me settle this once and for all. I AM a NRU member, at least I still think I am, their policies are very convoluted and they can change without notice. I did attend the "college" and I can tell you that it's a total joke. There isn't anything there that you can't learn from a $30 book you can buy from Amazon.com. The thing is, if you don't have the motivation to buy a good book, network with REAL real estate investors and get out there and make things happen on your own, I can tell you for a fact that NRU will NOT help you do that. Bottom line, you don't need to pay $16k for what they offer, what you're really buying is the network marketing, ponzi scheme aspect of it. Personally, I can't in good conscience sell something to someone that I think is absolutely not worth the money, but apparently many people in NRU don't have that problem. The vast majority of people in NRU are idiots, I'm telling you this as a fact, I met them, I talked to them. Investor's Concierge preys on that ignorance, the deals up there are not as good as they seem, just dig a little deeper (hint: just look at two things: (1) interest only payments on the mortgages and (2) what happens when the incentives run out). Most of the people in the system make money from the marketing, NOT from real estate. Those that have made money in real estate have made it in the last 5 years, when anyone with a pulse could have bought real estate and made money. Finally, the members associate themselves with the likes of Robert Kiyosaki and "the Secret". That alone should raise a lot of red flags, but if I can't convince you of that, then you're already a lost cause.
If you're going to do it anyway, I suggest you purchase the least expensive option so that when you find out for yourself, you're only out some fraction of the $16,000 "Regents" package. Don't be fooled when you talk to people in NRU who say they are successful, I don't doubt that there are many people who make tons of money off the marketing and I don't doubt that there are some people who make money off of real estate investing. But the reality is, the VAST majority do not, that's why most MLM and networking marketing schemes are scams. Why don't you hear more people complaining about it you ask? Well part of it is embarrassment, part of it is apathy; when you realize you're out $16,000 for no reason other then you're own stupidity, well, I think the instinct for most people is just to pretend it never happened and move on. BTW, I just recently found out that the guy who signed me up is back looking for a full-time job. He had quit his job to do this NRU scam full-time, but now that the market has turned and the economy has gone south, I guess it's harder and harder to find marks.
On the Investor Concierge so-called "deals", what you really need to do is take a look at where these properties are and run comps yourself. You can contact brokers in the area or look for mls listings online. Second, you need to run comps on the rentals. Finally, you need to analyze their numbers for the particular deal. I think inevitably you will find that (1) the appraisals they give you are not very good and most of the comps are pretty close to the price you're getting, which means the "built-in equity" they say you have is probably zero (i.e.- you're paying roughly market), or worse yet, in this market, you are over-paying, (2) the rents they say they can get for you are inflated, (3) you will have negative cash flow once the seller incentives run out (free property management, property taxes paid, etc.), and (4) the financing is usually interest only, so you're not having someone pay down you're mortgage at all. The deals on Investor's Concierge are nothing to brag about, which makes it even more terrifying to hear of people in NRU buying 5, 10 or 20 properties through that system. And yes, buying real estate sight unseen is scary prospect, as it should be. The truth is, it is not that easy to make money in real estate, there are a bunch of problems that you run into with this asset class that you don't have in other investment vehicles. Which makes sense, because if you could get superior returns in real estate, investors would flood the market and drive down yields, this is exactly what happens in boom cycles. I am willing to bet another $16,000 that all these folks who bought property through Investor's Concierge are hating life right now and wondering how to get themselves out of this mess. The only consolation I have is that lots of these people probably sank their ponzi money into real estate and are probably wiped out by now. Where is your the power of your positive thinking now in the face of the greatest Housing Bear this country has ever seen? There's no Secret about it, NRU is toast.
Hello everyone. Very interesting all this is. I do agree that name calling (on both sides) is inappropriate at best. Luckily, most people can see thru this because of the passion both sides feel for their cause. I commend all that have posted here and voiced their opinions and facts. After reading thru the tread over and over I still draw one conclusion: Nouveau Riche is NOT as it says. Some have done great and that is awesome but just like those weight loss commercials all over TV-those results are not typical. It had great potential but when it went bad was at the marketing side:this always seems to draw the well intended morals out of people due to greed of money-which is a proven FACT over and over. When your sitting in a room full of people who are hooting and hollering because they are being told they too can reach such acclaimed status-who wouldn't be excited?? I was until I looked into the founders and the unethical real estate practices more deeply. If I cannot make money with my morals intact-I am not going to do it, plain and simple. I am not perfect, don't claim to be but just think how your all going to feel that you have convinced your friends or complete strangers to spend the money for an education that doesn't pay off then they have to sucker more people into joining so they can get their money back?? Wow. You know, I have a peer who just got out of prison for following the gray/barely legal/immoral practices "taught" by real estate investors of NR. He lost over 4 MILLION dollars, many legitimate business, friends, family, employees, respect and not to mention 5 years of his life in jail & prison. All for what? The love of money. He will never touch real estate investing again-well, actually thanks to the government and himself, he can't! What I can say to all this BS is if you too love money so much that your willing to bend the rules, compromise yourself and your family (wife and children), put others in bad investing positions-then go for it! Otherwise, run-don't walk away from this great opportunity!!!!!!
Anonymous: I wanted to respond to your point, because it is a good one. There are certainly many people in NRU who have made lots of money, not doubt about that. The problem, however, is the mathematical reality that the vast majority of people will not make any money off of the MLM part of the package, and yet, that's the piece that gets the most attention at the "briefings" and the sales pitches. So the argument that NRU "is what it is" and therefore is not a scam is bogus. The sales pitch is very MLM focused, because that's the most appealing aspect of NRU, the prospect of making tons of money really fast.
I attended "college" right around this time a year ago, took time off work, booked a flight, paid for the hotel and spent a week in crazy hot weather in Phoenix, AZ. When I returned, I knew I could not in good conscience sell this product to ANYONE. The reality is that the so-called education you get is really more akin to one-day seminars. There is no textbook, no assignments, no testing, just some guy standing up there explaining to you what "NOI" means. There is no real substance to it, it's very general and no practical instruction in apply anything you learn. The "materials" you get are photo-copied, hand-bound booklets, sometimes with just an outline of the powerpoint presentation. Very amateur hour. But then again, what can you expect? You can learn any of this stuff in a book, there are no secrets that someone else hasn't already written about in a book to cash in on, I don't understand why people still think there are "secrets" in real estate investing out there to be discovered. I think the expectation that a lot of people have about something like NRU is that it will help them fulfill their dreams of real estate riches, and that's precisely what NRU preys on. But the reality is far from that. As far as asset classes go, Real Estate is extraordinarily risky. Ask any legit real estate professional and they will confirm that. The myth that real estate is a "safe" investment is being destroyed in the newspapers right before our very eyes. Extraordinary returns ALWAYS require taking extraordinary risks, this is almost the opposite of what NRU pitches. People are now realizing that the benefits of leverage do not come without lots of additional risks, such as having your equity wiped out with relatively small declines in market value. And for those who think that the run up in real estate prices over the last 5-6 years will be repeated anytime soon, just Google "reversion to the mean" and see what you get.
So I was pretty pissed off when I returned from "college", because I am not the kind of person who can in good conscience sell a bill of goods that is simply not worth the price. Fundamentally, that is how MLM works: you need to increase the price of your product by several multiples so as to factor in the commissions you need to pay to current and future members. So for the schills that say that the education is worth $16,000, you are totally delusional. The only reason the tuition costs $16,000 is because half of it goes to pay the commission. Sounds great to the top "producers" but you had better not expect to get your money's worth without selling the product.
To wrap this up, the reason people are so suspicious of MLM and pyramid schemes in general is because of what happens when value and price become detached in order to subsidize commissions. This always inevitable fuels greed, deception, fraud and everything that comes with it. This is not unique to NRU and despite what ever ethics policies the NRU schills say are in place, at the end of the day, the system is going to foster the basest of human instincts. That by far is the worst part about it. Bottom line, I went in on NRU with a very close friend of mine, each putting $8,000. The ensuing fall-out has left us estranged, we are not even on speaking terms anymore. THAT, my friends, is the true cost of NRU.
Dean,
Great contribution to the blog. I truly hope that your experience helps others that are on the verge of being swindled by NRU. Sorry to hear that you lost $8k and a friend. We have all made mistakes in business and lost money.
Dean, I am the anon that wrote what you responded to. I was on the verge of joining this "cult" but so very thankfully to people out there who have stepped up to the plate and identified the wrongs or Nouveau Riche, I am HAPPY to say that for once my intuition paid off-BIG TIME!!!!! THANK YOU to Dean and the others for ALL the information. I have a question for the people who are "for" this college. What you learned ... was it ethical??? Was it morally correct??? Do you sleep well at night? I just need to know-and I do mean by Christian standards (of course!)
LOL what a great thread! I thought i would throw in my 2 cents.
I am full time with NRU and I have made a ton of money on both the marketing side and real estate side. I have been with NRU for a little over 8 months and have put just under 80K in my poket.
Good luck to all
Prove it anonymous!
We've all heard LOTS of claims with nothing to ever back it up.
You are more likely to make money buying 20,000 quick pick lottery tickets then giving these guys a penny.
And at least you won't have to waste thousands of hours and have your friends and family avoid you.
$80K in your poket?? WHAT a CROCK of CRAP! I'm assuming since you can't write or spell that maybe you meant $80K OUT of POCKET.
Don't ASS'U'ME anything or you will make an ass out of u and me (ass-u-me)
The fact is, I have made 80K with NRU and I have just hit my groove.
My family and friends can't thank me enough for getting them involved with NRU
Great job anon who as made just less than $80K, or was it $80K, IDK?? Anyway, (hey, all that rhymed!) write us in a year will ya? Hope to see you on the top 5 list for 2008 at NRU because no on else seems to be popping up with that type of success. How many people exactly are "enrolled"? You must be like a needle in a haystack-a really BIG haystack.
Now the 80k makes sense. You conned your family and friends to join so you can make money off of them. Great job! You must be proud.
Maybe when they go to the "univeristy" in Arizona you can rob their houses and make another 80k!
The real test will be if your family and friends are still thanking you a year from now (that's assuming anything you've posted is true, I tend to doubt the honesty of those who join an organization that encourages its members to lie.)
Will one of the former members post some of the scripts that NR gives you to say to your friends and family?
That's all you need to see to come to your own conclusion. The scripts encourage you to lie and mislead your friends and family to get them to join. It's really quite entertaining to read. Unfortunately, it actually works on some people.
Here's the script....
Have a good laugh! I did!
What a bunch of scumbags they are...
http://www.scribd.com/people/view/269707-nruscam
Oh my gosh! Sound strangely familiar ... my other "favorite" line is the one where they tell you that the friends you have now you will no longer have in the future. They say that is because you will learn to not hang around people who drag you down-I say it is because if you take them to a meeting they will think our a freak!!!
I have a good friend that I have had now for 3 years. he has never looked happier and the same go's for the relationship he has with his wife. They went to the college and have been out now for 2 months. trying to get me to buy into this education program. the major thing i have going for me is that I have done direct sales before and knowing them for so long. I just can't get this funny itch off my back. they seem to talk to me differently and seem to only have a sense of urgency about getting me and the others around set up with the education, I know they get half of the tuition money, so I asked if they had made any money other than the marketing side they said they were close but nothing solid. I feel so confused on what to do. think I should just spend money on books or really give the education a chance? Is this a wolf in sheeps clothing? Jmhnatas@yahoo.com let me know your oppinions pls.
Justin, my friend who tried to get me into NR is the exact same way. He’s been in it for a year, hasn’t done one real estate transaction, hasn’t netted one penny (in fact he’s lost over 20k), and yet he still talks about NR as though it’s the greatest thing that ever happened to him.
Every time I talk to him, he’s just about to purchase his first investment property, but of course it never materializes.
The reason they “talk to you differently” is because you haven’t joined the cult yet. My friend is different to me now too. He knows that I think NR’s a scam so it’s put a bit of a strain on our relationship. He’s so obsessed with talking to anyone he meets about joining NR (that includes cashiers at the grocery store. Trust me, I’ve seen it) that he doesn’t want a non-believer like me around.
I’m fairly certain that the gods at NR tell their followers to steer clear of the non-believers so be prepared for your friends to act differently to you if you don’t join. Part of the brainwashing aspect of the “education” is convincing people that we non-believers are only that way because of fear, jealousy or whatever else they can come up with and we will only keep them from achieving their dreams.
Tell your friends what I told mine: Talk to me when you net your first penny.
Hello Justin,
The reason that I got involved with these anti NRU blogs is becuase I witnessed first hand the crime that these people commit. My friend had seen people during the last several years make a lot of money in real estate; myself included. She is a very happy high energy successful individual. Long story short is that she had to spend $20,000 on the worthless education and buy a couple properties that lost nearly half their value in the last 12 months in Michigan to realize that NRU was a scam.
She is not so happy anymore. NRU is not a school, it is not a business, it is not anything legit. Invest your money elsewhere and learn about real estate for free and wait until the next real estate appreciation cycle comes around. Then buy and use your $20,000 for down payment.
Be a smart money person not a stupid NRU salesman that only makes money of the buying and selling of others.
Justin,
It was a pleasure talking to you on the phone yesterday. I hope I gave you some solid information about NR. I am happy you are doing your due diligence before you drop the 20K. Again... if you attend our 2-Day intensive this weekend, you will know without a doubt that taking this on will be the right decision! You have my email, contact me anytime.
For anyone else out there that is currently on the fence about joining NR, we are having 2-Day trainings all over the US this weekend and next weekend where you can go for free and get a sample of our education before you join.
Anyone in Utah that wants to go to this event, click on my name to get a free printable E-thicket and reserve your seats. (seating is limited)
Thank you and good luck
Justin, take Adams advice. Go to a seminar. I’ve been to one. If you can’t figure out within 5 minutes of the seminar that it’s a complete scam, then you deserve to lose your money.
Remember, the people who are warning you have absolutely nothing to gain or lose if you sign up or not. Can Adam say the same?
The Standard & Poor’s/Case-Shiller home price index of 20 cities fell by 12.7 percent in February versus last year, the largest decline since its inception in 2001
Hmmm...Should I pay $20,000 to learn how to buy a liability that is depreciating at 12.7% nationally? Sounds like the wrong thing to do.
Oh, but NRU says keep buying because its on sale!
More proof that these people are scam artists with no education who don't care about anybody but themselves.
Yeah I too have nothing to lose or gain from justin signing up. He contacted me via my web page just to get some more info. I had a chance to talk to him on the phone. He will know what he is going to do after the 2-Day Intensive. He is a sharp dude so I already know he is in.
Again, If you are well versed in Real Estate Investing, you can fluctuate your strategies to be inline with the current market.
I am currently working with the bank on 2 short sales. Short sales are huge right now. I thank the education I received from NR for that!
So yeah.... Real Estate IS on sale!
Adam,
You have been suckered by NRU. I have been in the mortgage banking business since the mid eighties. When the housing industry tanked in the 90's the banks got stuck with huge portfolios of upside down properties.
The first thing we did as bankers is push that junk property on the public. Negotiate a short sale to get the owner out and move the property for 60 cents on the dollar to some poor sucker like yourself.
This is one of the bankers' oldest tricks in the book. The bank salvages what it can from the depreciating asset and moves the remaining funds into something that Wall Street wants. The bank uses the funds to invest in something that appreciates and will earn them a return!
The bankers count on all those suckers that the NRU factory can generate.
NRU doesn't understand the most basic, elementary ways of the world. NRU is truly a place for the uneducated to be separated from their money.
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