New to Real Estate · Brazil · Member since 2023 · 5 posts · 2 votes
Hi all, I'm new here. I just found this site on Google search while trying to get more information about Mr. Michael Elefant and BNB Investor Academy. I follow him on Instagram and he contacted me to invest in his rents. I started talking to him about the minimum amount to invest, since I didn't know him or his company and he initially asked for $2,000 usd. Then he sent me a MoU for a 5k investment. And then he already tried to talk about a 10k investment. In short, he could simply not return the money or the profit by saying that he had reasons of force majeure, without clarifying any additional details. He also had no official identification of the company or the legal representative. When I asked for identification documents, he claimed it was too many documents for an investment of "only" $10,000. In other words, I strongly believe that this is a fraud. Does anyone know if this company BNB Investor Academy and Michael Elefant are serious?
I am familiar with the person you are talking about and as far as I know he doesn´t do syndication deals or take outside money from people in his coaching group. You simply pay a flat fee for his course.
Based on what you are saying I think the scam is the person who is contacting you on IG. Check the profile closely to make sure that it is not a fake version of the real person. The reason I say that is most of these guys are selling courses and not looking for direct investments. I get these similar requests on Instagram weekly and almost always it's not the real person. If they ask for an investment in a ¨fund¨ or anything to do with crypto it is an immediate red flag.
I am familiar with the person you are talking about and as far as I know he doesn´t do syndication deals or take outside money from people in his coaching group. You simply pay a flat fee for his course.
Based on what you are saying I think the scam is the person who is contacting you on IG. Check the profile closely to make sure that it is not a fake version of the real person. The reason I say that is most of these guys are selling courses and not looking for direct investments. I get these similar requests on Instagram weekly and almost always it's not the real person. If they ask for an investment in a ¨fund¨ or anything to do with crypto it is an immediate red flag.
Micheal Elefante is legit but with all these guys you have to be sure it's their real account and not someone coping them. Anytime there are double letters or extra symbols in a social media account name, you can be sure it's fake. In this case BNB Investor Academy is a group you can join to learn how to start your own STR business, not invest money. Micheal Elefante doesn't partner with other people to purchase his STR but does it all himself.
Ugh… this stinks! Michael and his wife are great people and have worked very hard to earn their success. I hate to see things like this. I took Michael's course when I first started learning about STR's and it's a FANTASTIC course. It's straight forward and low on frills, fat on solid, actionable advice and education. His course reminded me that "the best is the enemy of the good and DONE." 🤣 As a marketing person, I've often held on to things I should have released sooner, there's always an opportunity to do a new version!
I have all the screenshots and the MoU that he suggested to me. I will not pay him, but for sure he will get money from other people.
Happy you figured it out.
Just like @Michael Baum said above, there are so many free tools at your disposal including forums like this.
I would be a little leery about shelling out 10k or any amount for a course at this time. If the STR market does what a lot of people think it is going to do, that 10k would be better spent on your first deal IMO. Good luck!
I have all the screenshots and the MoU that he suggested to me. I will not pay him, but for sure he will get money from other people.
Happy you figured it out.
Just like @Michael Baum said above, there are so many free tools at your disposal including forums like this.
I would be a little leery about shelling out 10k or any amount for a course at this time. If the STR market does what a lot of people think it is going to do, that 10k would be better spent on your first deal IMO. Good luck!
NO regrets here for our expensive course!! You get what you pay for, and I would rather learn off someone who has built a solid business.
the scary thing is that the fake profile had all the jargon of the area, knew how to explain in detail the operation and knew about STR. Even the MoU he had with BNB company address.
I reported the fake profile to Instagram and also to authorities. I hope it gets deleted before it harms anyone.
I'll try to warn the real Michael Elephant about this fake profile.
I'd advise you to be cautious. The situation with Mr. Michael Elefant and BNB Investor Academy sounds suspicious. The unsolicited contact, inconsistent investment amounts, lack of official identification, and vague explanations raise red flags. It's best to avoid investing until you can verify their legitimacy thoroughly. Protect your money and only invest with reputable individuals or organizations with a proven track record. If it seems too good to be true, it probably is. Stay safe!