James Smith, National Real Estate Investors, NRI, ripoff: Real Estate Investing Training Scam! Empty Promises... Empty Wallet!! Provo Utah
I believe I have ALSO been scammed by James Smith and his Utah-based company, National Real Estate Investors (NRI). Their "course materials" claim they are "America's Best Real Estate Investment Training." HA!
My cousin and I listened to James Smith for several hours in a conference center meeting room last December (2006) here in the Detroit area. Unfortunately, we naively fell for all of their "lines" and paid $2995-EACH for a three-day training course and 12-months of personal mentoring.
We attended the 3-day training, which was very "inspiring" (and I use that term VERY lightly). Then, at the conclusion, they told us there was more we needed to learn before we could really be successful investing in real estate and invited us to attend an additional five-day annual conference held by NRI in Utah (the "M5") where we would get to even meet James Smith personally... All that for only $9,995-EACH more!
Nevertheless, even though we opted out of the additional training (Thank Heavens!), we had been fooled that we could run right out then and make money in the world of real estate investing (with, of course, the support of our personal mentor for 12 months). Unlike, many of my wiser Rip-Off peers, I didn't catch on to the scam right away nor did I do the proper research on this company. I was really foolishly serious about making this work! The sad part is that I had lost my job at the time --after 25+ years with a seriously failing major U.S. auto company-- and I was desparate!! I wanted so much to believe what James Smith was saying that it clouded my usually level-headed thinking.
So, in February 2006, I filled out the Mentee Profile sheet and faxed it to their offices in Utah. After several weeks with no contact from NRI, I placed a call in March '06 to an (800) number I had and left a message on a machine asking if they could confirm receiving my fax... No call back. I waited several more weeks with no contact from NRI and called again in April '06 only to get another recorded message on which I left an "agitated" follow up inquiry. It is now June and I have yet to receive any contact at all (letter or live) confirming the receipt of my faxed profile or efforts to arrange for the "promised" mentoring process.
I feel so Violated!! Fooled!! Scammed!! Stupid!! etc. I am still currently unemployed as the job market in southeast Michigan sucks due to the tanking auto industry and really shouldn't have "invested" the money. Now I could really use that $3K I spent for nothing to pay my mortgage payments, medical bills and groceries.
Has ANYONE out there ever been successful at getting their money refunded from any of these wealth "gurus" past the first 3-day legal cancellation period? I sure would like to try, but I need any and all advice out there on how I should go about it.
Thanks!
LL
Madison Heights, Michigan
U.S.A.
6 Updates & Rebuttals
Ll
Madison Heights,Michigan,
U.S.A.
Congratulations Martin!!!
#7Author of original report
Wed, December 06, 2006
Hey Martin, Glad to hear the Good Guys one in your case. It will be interesting how soon/if they credit your card. I don't know if the same argument would work for me as I DID open the material AND attended the seminar. However, THAT'S when I realized I'd been ripped off! Although, I still have not done the mentoring part, which is supposedly included in the seminar cost, even though I did my part by faxing in the required personal profile.
As a follow-up to my initial report... I contacted NRI a 3rd time in June to find out why I hadn't received a call to start mentoring and I was told that they recently moved and they did not know where the faxed personal profile was. So, in July, my cousin (aka my partner) faxed in his profile and included mine for a second time. No call back again! After a few weeks, I followed up and was told that they didn't know where EITHER of our profiles were.
That's when I really got mad and demanded a refund!! A customer rep named Boyd called me back to FINALLY schedule the mentoring but this time I told him that I was tired of dealing with their incompetence so I just wanted the refund. He got very nasty, threatened to involve their lawyers and ultimately hung up on me when I didn't back down.
Your story is encouraging... Maybe I'll follow your lead and call back again and again until a supervisor will cave for me as well.
Thanks for the response!!
Martin
Bayside,New York,
U.S.A.
Got my 3K back - This is for LL - Madison
#7Consumer Comment
Wed, December 06, 2006
I called the Learning Annex today and told them that I did not want to take the course. At first. sorry we can't do that. 3 day policy.
I then stated that if I had read about James Smith on ripoffreport.com the first day, I would have canceled. put it to you supervisor in this perspective. I also told her that James Smith doesn't even show up for the first course/seminar. his son does it.
The supervisor (I never got to speak with one) counter offered:
1st one was I could drop james smith for any other course/seminar. I said no
2nd offer was they would refund 25% of my 2,995 and I could still take the course. She also said that there are also people that have positive things to say about the seminar.
Yeah like that's going to convince to spend money on something I know I walk away from unsatisfied.
Who gives a rat's a*s if some other people had a positive review. I don't see any on the internet and if I did. I would most likely think it was marketing fluff.
After her third review with her supervisor. The learning annex refunded the money. Good thing I did not open the dvds/ books or whatever came in that package I bought at the expo.
I will let you all know if I don't see a credit on my card in the next few days.
That 3 day policy is BS. your cc company will most likely back you up if you did not actually take the course. You best bet. use ripoffreport.com as your source. State you didn't read about the 'scam' until recently (past the 3 day period).
Jerry
B,California,
U.S.A.
How to treat these seminars
#7Consumer Comment
Sun, September 03, 2006
I've read so many complaints about James Smith's wealth seminar and couldn't help but to respond.
Maybe my comments can help someone in the future to avoid being "ripped off".
I am a beginning real estate investor and love spending time at these seminars because there are different ideas & concepts I can pick up and research later.
I always go to these seminars with an open mind...they may help me, they may not. I go knowing they are going to try to sell me something. The way I get around buying these great sounding courses is to leave my credit card at home and only take $40 cash (for lunch if needed). I research the seminar topics at a later date and find some very useful information.
The problem, I think, is that most people want to be taught something and are willing to pay thousands of $$ to learn it. Real Estate wealth takes years to achieve and it is greed and a sense of urgency that takes most people down.
You're going to run into savvy salesmen, like James Smith, all your life. Please learn how to handle these situations and realize a lot of people make promises they can't keep.
If you really are interested in real estate investing, buy books at Barnes & Noble, etc., research the web, but don't pay thousands of $$ to learn. I took some real estate appraisel classes at a nearby college for a few hundred $$ and has helped me a lot.
I would also suggest ******** ******* Seminar if he is in your area. Although I haven't used his network, I learned several things that helped me get started in real estate.
Rose
New Orleans,Louisiana,
U.S.A.
James Smith contact info
#7Consumer Suggestion
Wed, August 16, 2006
I don't know if it will get you anywhere but James' email address is: expertinre@aol.com. I would send him a complaint personally. See if he responds... it would be interesting.
I too have spent a small fortune with this group and although not much has come from it directly, I haven't had that kind of communication problem with them.
My mentor contacted me almost immediately. Here is the business number I had for him: 801-471-7781. I haven't tried to call it in awhile but maybe it is different than the one you have.
I have a friend that had a similar issue but NRI compensated her with more free seminars as apposed to refunding any of her money. She was happy with that so I don't know if she would have been successful getting a refund.
Good luck!!
Rose
New Orleans,Louisiana,
U.S.A.
James Smith contact info
#7Consumer Suggestion
Wed, August 16, 2006
I don't know if it will get you anywhere but James' email address is: expertinre@aol.com. I would send him a complaint personally. See if he responds... it would be interesting.
I too have spent a small fortune with this group and although not much has come from it directly, I haven't had that kind of communication problem with them.
My mentor contacted me almost immediately. Here is the business number I had for him: 801-471-7781. I haven't tried to call it in awhile but maybe it is different than the one you have.
I have a friend that had a similar issue but NRI compensated her with more free seminars as apposed to refunding any of her money. She was happy with that so I don't know if she would have been successful getting a refund.
Good luck!!
Rose
New Orleans,Louisiana,
U.S.A.
James Smith contact info
#7Consumer Suggestion
Wed, August 16, 2006
I don't know if it will get you anywhere but James' email address is: expertinre@aol.com. I would send him a complaint personally. See if he responds... it would be interesting.
I too have spent a small fortune with this group and although not much has come from it directly, I haven't had that kind of communication problem with them.
My mentor contacted me almost immediately. Here is the business number I had for him: 801-471-7781. I haven't tried to call it in awhile but maybe it is different than the one you have.
I have a friend that had a similar issue but NRI compensated her with more free seminars as apposed to refunding any of her money. She was happy with that so I don't know if she would have been successful getting a refund.
Good luck!!