Is Nouveau Riche real estate school a scam?

Question

Went on an interview today for what I thought was a real estate investing job, ended up being an interview to ask if I wanted to go to the Nouveau Riche real estate investing school in Arizona. I can't tell if this is legit, kinda seems to be a MLM scam to me. The school is like 16 grand and is very short. From what I understand you get additional help from guys who know the business, but to what extent, I do not know. I just wondered how in depth they go, if anyone has attended, if so, is it worth it, or are they just trying to get my 16k for the tuition? Could I learn this stuff by getting some books and doing some internet research? Is that Carlton Sheets and Russ Whitney, etc. info the same thing? Thanks

Answer 1

Take some college courses, in person.

With a name like that, somebody gets Riche, but it sure won't be you.

Answer 2

I'd recommend you read the whole thread in the site the second answerer quoted. If you had attended a presentation of the program, as I did last night, you'd know that the author wasn't listening. Several of his statements were inaccurate as to the simple facts of the program. Have you been to the presentation? I'd suggest you do that--it's free, and then you'll have the basis to judge for yourself rather than accepting answers from people who haven't even looked into it.

NR is sold by direct sales, with a twist that MLM veterans would call an "Aussie 2-up", meaning that the commission for your first two sales go to your mentor. You in turn become the beneficiary of that rule when you sell two more. There is no residual income because there is no ongoing sale of product, unlike a true MLM. Whether you like this type of business or think it's the invention of the devil, you should decide whether to invest in the education on the merits of the product rather than on how it is sold. There is absolutely no requirement that you market it...that's simply a bonus for the people who enjoy doing so.

Check out www.NRUniversity.com. They have a complete curriculum posted, as well as some discussion about their accreditation through ACE to allow transfer of some credit for these classes to over 1000 colleges and universities in the US.

There is no such thing as a real estate investing job. Real estate investing is for people who have a passion to get the education and do the work for their own satisfaction and for the profit made from the investment. No one will pay you a salary or even an hourly wage for doing the work.

Answer 3

I did a search and found their site. It looks like the ones where you can make millions without spending a dime. You make money selling their product. Following is a cut and paste from SSCAM.COM. I suggest you do search there too.

Nouveau Riche is a real estate investment educational company. They promise making a ton of money in real estate, but what they really encourage is making tons of money selling their educational product and with the money you make, invest it in real estate. From SCAM.COM ;

They're educational programs are terrible, some of their reps make a ton of money selling a severly overpriced (and mediocre) product, and the money that is made is most often made by individuals with not ethics who sell just to sell, but make very little investing in real estate. They particularly fail to teach people with little money and not so great credit how to invest. These people are often $16,000 further in debt after signing up for Nouveau Riche's investment "pep rallys" where lots of things are talked about, but very little is actually taught.

There are MUCH better places to get real estate knowledge for less or for free. If you want to know everything that Nouveau Riche teaches, then check out Dolf de Roos's book from the library. He teaches well-kept real estate secrets like "buy low, sell high" and "bring in more money than you pay out each month". Don't waste your time, don't waste your money. Join only if you can sleep at night knowing that you're screwing other people to make money.

Answer 4

They are a joke. They are a pyramid scheme at the core and that is all they care about. They care very little about your success as an investor, what they really want is for you to recruit fresh meat to pay to attend their "university". They get half and you get half and then a percentage of the people you get and so on and so on. Don't be fooled by the click a mouse, buy a house nonsense. They teach you nothing you cannot learn in a book or online or from experience. They only care about the people at the top of the pyramid making money. When you hear people raving about it, those are the people that started at the top and see you as a juicy steak. Stay away! Trust me!

Answer 5

sounds like a scam based on the bait and switch tactic they did to u in the interview, if u ever need further information on mlm/money scams http://scamsbeware.com is a good resource center to help you stay informed, best wishes.