Complaint Review: Nu-Way Real Estate

I was originally contacted by Andrew James and told that I will get funds for real estate and all I have to do is find properties and they will finance it. They charge $5,000.00 but I was given 50% as a starter for giving a break sort of speak. So I paid $2,500.00, and the other $2,500.00 would be paid at the back end when the properties were acquired and resold. Andrew said that the money would be refundable, but on a telephone air sort of device they said they would not., and I had six months to find them suitable propertis.

They had me go through a real estate course to qualify me and for 2 to 3 months I had to go through thier process which I believe it was a waste of time as many great opportunities went past by right through me and would not get funds until I finished thier course. I finished it and they promised me a certificate which I never recieved till this day.

I presented on a various occaisions multiple of properties (residential homes) were great purchases. They had $50,000.00 margin after fixing them and reselling them. According to the agreement I was to split the proceeds 50 50 right in the center equally is what Andrew James promised as well, but my representative said that I was to only get 25% only and not 50% until I show them I a substantial producer. I found that very odd.

I submitted to Nu-Way over 20 different properties and as mentioned it had more or less then $50,000.00 worth of profit after fixing costs were adjusted to be made by reselling it.

They turned down every single property and told me that I do not know what I am doing. I was wondering didn't I completed their course and they said that, I am qualified for fundings. They refuse to give me more time to produce more properties and told me they terminating their relationship with me.

I felt cheated because they got my money and lied to me that my properties were not good. I performed proper Due-Dilligence with several different real estate experts before I submitted those properties.

I think it was a game that they lied to me that I would get 50% of the proceeds after resale and if I was not making money with Nu-Way that, I would get my $2,500.00 returned back to me. They played a dirty game to get the check and then they recorded my voice that the money would be returned. They turned down the submitted properties with a mere excuse that those properties were no good.

I want them to return my $2,500.00 plus the other $60.00 they took for the initial package.

Syed
Saint Peters, Missouri
U.S.A.