All Forum Posts by: Lance Van Buren

What's an FSBO?

Hi Everyone,

Im just looking for a little bit of help on the terms being mentioned here, trying to learn the terminology and acronyms.

What is CAP rate? And how does one figure out what that number is? Also why is this number important and how does it apply to making a decision whether to buy or not buy a property?

What is NOI?

Thanks ahead of time,

Lance

 I plugged the address into Google Earth and then did a virtual drive through the area in street view. It looks decent enough initially but "driving" around the area it becomes apparent quickly this is not a decent area and you would definitely not feel safe walking down the street.

 Hey James I will put my Google-KungFu skills to work. Give me a few hours to see what I can dig up and if there is any connection.

@James Enright - Let me use some of my Google-Kung Fu skills. Give me a few hours and I will see what I can dig up if there is any connection.

 I posted the information above in the company info, its  the Same company... they just have different names

Alternate Business Names:

Advanced Financial Training

Financial Media Group, LLC

Find and FlipFlip Advantage

Flipping Formula

Loral Langemeier

Premium Financial Training

Property Bank

Property Wars

Real Estate Addict

Top Trader

Trend Trading

Zurixx, LLC

 Ok so doing a bit more research I have come to the conclusion that the ripoff company is actually Premier Mentoring, they get famous gurus with a name and then represent them to sell all kinds of crap courses which never provide anything except how to teach students how to raise their CC limits so the can sell them more worthless training. Here is a ripoff by Armando Montelongo from A&E tv with Premier Mentoring... which sounds identical to Debbie's Problem with Tarek and Cristina El Moussa from HGTV Flip or Flop with Premier Mentoring.

---------------------------------

http://www.complaintsboard.com/complaints/armando-montelongo-and-premier-mentoring-inc-draper-utah-c235107.html

Deceptive sales and unfulfilled terms Complaint Rating: Contact information: Premier Mentoring, In. Draper, Utah United StatesPhone: 888-684-3304 armandocoaching.com

My complaint is against Premier Mentoring, Inc., Exchange Place 172 East 14075 South, Draper, UT 84020 and Armando Montelongo. Contact person is Nate Gay of the Resolutions Department 888-684-3304 x720 On June 9, 2009 my boyfriend and I attended a "seminar" about how to flip homes put on by Armando Montelongo of "Flip This House" on A&E. This, of course, was a sales pitch. We were promised a 3-day course with Armando. numerous techniques on how to make money flipping houses including using insurance companies' money, access to hard money, and access to their "abundant" inventory of homes that needed rehab. The presenter, I believe his name was Matt Matthews, said there was a complete money back guarantee. We signed up for the course which cost $2, 997. We were promised continental breakfast and lunch each day. The receipt for the course indicated there would be: "3-day real estate investing workshop with Armando Montelongo 3 days of live training with Armando Montelongo and his team!!! Master study course materials, including 5 Wealth Guides and 12 CDs! "Flip It Now" 5 books series! 2009 foreclosure opportunity course! 6 months of real estate hotline support!" The fine print on the contract: Customer Service: If you have any questions about your upcoming workshop, please feel free to contact our Customer Service Department, toll free, at (888) 634-3304. Fullfillment Policy: It is your obligation to attend any scheduled workshops or training sessions. However, if you do not complete your training sessions within 30 days of the scheduled dates, we will provide you with alternate training materials (via e-mail, CD/DVD, print materials or online access) as fulfillment of your purchase. Any alternate training materials are provided for personal use only and do not constitute a license to duplicate, distribute or sell such materials. Return Policy: You may cancel this transaction at any time prior to three (3) business days after purchase. To cancel, please call Customer Service to obtain a Return Authorization Code and shipping address. Items must be returned in resaleable condition to receive refund. I hereby authorize the processing of my tuition payment in exchange for the products and services stated above. By signing below, I acknowledge that I have read and agree to the terms and conditions described in the Fulfillment & Return Policies. We attended the training on Friday, June 19 through Sunday, June 21, 2009. There was no food as promised. Over half of the students complained and they finally took us out to lunch on Friday and Saturday. Armando appeared for about an hour on Saturday "unprepared" and did not teach anything. He only promoted a field trip with him at an additional cost of $24, 000. At the beginning I asked if the presenter was familiar with Arizona real estate law as I am a member of the Arizona Real Estate Investor's Association (AZREIA) and attend meetings where the local law is reviewed. I specifically asked because the initial presenter in June, Matt, spoke of a process that is illegal here in Arizona (bird-dogging). I was assured the presenter knew Arizona law. I have subsequently learned that other "techniques" they promoted are also illegal here. Although promised on several occassions, we never received the course materials (Master study course materials, including 5 Wealth Guides and 12 CDs!) We did received Armando's Flip and Grow Rich 5 book series and the 12 supporting CDs for the series. We never received the 2009 foreclosure opportunity course. The presenter talked about increasing your credit card limits and reducing the interest rate, goal setting, a couple of examples of loan option wraps, 3 hours on a rental agreement, the annuity he set up for his daughter and how his nanny stole his credit cards. Very little was done on real estate investing. They promoted their mentoring program for $19, 000 - $24, 000 and a new reality program that Armando is doing. By Sunday I was furious. Many of the people in the class felt the same way I did. I was again assured by Jordan, one of the instructors, that there was a money back guarantee (which they, of course, now deny). I was yelled at by 2 of the instructors that I was uncooperative (all I wanted was what was promised). I have since done research on Armando and found several web sites that enumerate on the rip-off of his courses. You can find them by searching on "Armando Montelongo complaints." They refererrd people to the Utah Attorney General and Better Business Bureau. I have since filed complaints with both. I have left 5 voice mail messages with Nate Gay in the Resolutions department of Premier Mentoring, Inc. that have gone unanswered.

 Here is the company information

Premier Mentoring, Inc

This Business is not BBB Accredited

Additional Locations

Phone: (801) 495-2405

Fax: (801) 999-4602

View Additional Phone Numbers

6465 S 3000 E Ste 203, Salt Lake City, UT 84121

[email protected]

View Additional Email Addresses

http://www.premiermentoring.com

BBB file opened: December 14, 1999

Business started: 10/07/1998

Business started locally: 10/07/1998

Business incorporated: 10/07/1998 in UT

Corporation

Shane Andrus, Company Contact

Mr. Cris Cannon, President

Holden Richardson, Manager/Member

Ms. Helen Smith, CS Manager

Mr. Jeff Spangler, COB

Principal: Shane Andrus, Company Contact

Training ProgramsFinancial Consultants - No License RequiredCoaching - BusinessReal Estate Schools

Advanced Financial Training

Financial Media Group, LLC

Find and FlipFlip Advantage

Flipping Formula

Loral Langemeier

Premium Financial Training

Property Bank

Property Wars

Real Estate Addict

Top Trader

Trend Trading

Zurixx, LLC

Additional Web Addresses

• http://www.imiutah.com
• http://www.adkessler.com
• http://www.toptrader.com
• http://www.bobdiamondrealestate.com
• http://www.loralcoaching.com
• http://www.armandocoaching.com
• http://www.charrissacoaching.com
• http://www.flippingformula.com

Another complain... can you see the pattern already?:

Complaint: Services agreed upon were not taken into effect and I was not granted what I was told. myself and my stepfather signed up to go to a realestate seminar which was on April 30 through March 2nd. The cost was 2000$ per team the person speaking at the seminar was an investor and he was talking to us about taking control of our lives and taking chances. He asked us to call all our credit companies to ask for more credit on our cards so that we could use that money to start our own busisness. He also told about 30 of us, their company would guide us through our first few deals until we made our money back and if we did not accomplish our goal we would get a full refund. The cost for the package that we got was 21,297.00$ It consisted of a 3 day boot camp where a realestate investor would come to our area and work in a small group setting and go out in the field.Also a 2 day marketing camp and a 2 day wealth strategies camp which was to help me increase my wealth.We also received 2 online courses, Funding and Financing and Personal Business Success.Also received a included LLC and realestate software. So After We paid the 21,297.00$ They told me that an investor would be in my area in a couple of weeks.I did receive a call on the date the investor would be at the hotel for our classes and field work I was told he would arrive on the 21st of March and it would go through the weekend. Well he arrived on the 20th which was a Thurs. and I got a call from the office asking where I was and I told them I was told it started on a that Fri and they said I was wrong. So I went the rest of the weekend anyways from what I was told by the other people I didn't miss anything. When we arrived that Fri morning I asked the instructor if we were going out on the field today and he said we were not going at all because we were supposed to book our own appointments for him to see. That was not what I was told when I agreed to do this program, we sat in a classroom the whole weekend and went over numbers and how to attain property in different methods. We did learn some things but that wasn't what we paid for. My stepfather and I have been totally left in the dark about this whole thing after that day, we never received any phone calls after that date, and I actually called and complained to the customer service about what was going on and that I wasn't happy with the money we had spent,and she said that she could get me help over the phone and I told her that's not what I paid for.I paid for this program with a check # 1561 that came from my account, but my stepfather had given me the funds to do this and he is on the contract also because he was my partner and his name ******* ******. His name is also on the contract that I signed and he is a senior citizen which I think we were both taken advantage of.The contract No ********. The company has tried contacting me a week ago and I did not respond because my stepfather has written a letter to the Consumer Protection Bureau in Utah. I did speak to someone in billing month ago and she said she would only refund me 5,000$ because that what the 3 day class cost. This is why I am reporting this company.Not only do I feel that this was way over priced with what I got out of it and things were not fulfilled.

Desired Settlement: See Complaint Text

Business Response:

Mr. ***** purchased a Gold Real Estate Mentoring package on 3/2/14 for $21,297. The package included the following:

• FastStart 3 Day Bootcamp

• Marketing 2 Day Camp

• Wealth Strategies 2 Day Camp

• Online courses

• Online Resource Center

• Real Estate Evaluation Software

• Asset Protection

Mr. ***** did attend his FastStart 3 Day Bootcamp, was also given access to the Online Courses and Online Resource Center. He was also given the Real Estate Evaluation Software and Asset Protection. This leaves the Marketing 2 Day Camp and Wealth Strategies 2 Day Camp as they only services not rendered.

At the end of the Bootcamp Mr. ***** was asked to fill out a satisfaction survey in which he gave all 5’s out of 5’s clearly showing his satisfaction of what he had received.

In addition, when Mr. ***** purchased he signed a contract agreeing to the cancellation/refund policy which reads as follows: “No Questions Asked” Refund Policy: “You may cancel this transaction at any time prior to three (3) business days after purchase”. Mr. ***** never made an attempt to cancel within that time frame.

In summary:

Mr. ***** is not eligible for a full refund due to not cancelling with the time frame outlined in the agreed upon Refund Policy and also services being rendered. Premium Financial Training is willing to settle this complaint for a refund of $*****. The refund will be processed upon Mr. *****’s agreement.

Consumer Response:
Complaint: ********

I am rejecting this response because The refund is not enough, I marked satisfactory on the forms that had to do with the presentation not the fulfillment because the information I received was good but nothing was done that was was supposed to be done after the boot camp was over. I was not taken out into the field, I was told I would be walked through my first deal that was not done. I was told I had full funding which was not the case, and had cirtificates that were to be signed stating that I would have a full refund in 90 days if I had not accomplished a deal that was not done. Also the package I purchased was to be funded for everything what I mean by that is my trip to Vagas or Utah that was not the case. As for the software yes I did recieve it but what good does that do when I don't even know how to use it. I am willing to settle for $16500 because I was told by the office that the boot camp was 5000 that's what I'm willing to pay for.

Sincerely,

***** *****

Business Response: Mr. ***** is not eligible for a refund of $16,500. As previously stated, there were services rendered. We are willing to settle this complaint for $****** but will not be able to go any higher. As previously stated, Mr. ***** was clearly satisfied at the end of his FastStart Bootcamp. We stand behind out guarantee to continue to work with Mr. ***** at no additional charge until he has at least made back his investment with Premium Financial Training. The refund will be processed upon Mr. *****'s agreement.

Consumer Response:
Complaint: ********

I am rejecting this response because: I'm sorry but $***** in services were not rendered,Yes the info at bootcamp I was satisfied with but that was information, nothing else followed that information that your company was supposed to provide. I have all the paper work you do so if you want to move forward with this we can. I am just asking for what I deserve nothing more. I was not granted funding, again was not taken out into the field which was supposed to be manditory, also l was to be taken through my first deal and if not refunded within 90 days. How come nothing is being said about that!!! You keep saying that I was satisfied but we're any of these things fulfilled!!! I think not.

Sincerely,

***** *****

Business Response: $****** is the final offer of a refund. The refund will be processed upon Mr. *****'s agreement.

Consumer Response:
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

***** *****

Here is an example complaint"

Complaint: Dear BBB Representative, On February 22, 2015 I sent an email to the email address on record for Premier Mentoring (*********@premiermentoring.com), regarding a request for refund for non-receipt of an advertised service. I have not received a response from the company, and am writing to the BBB to assist in gaining a refund on the basis that the advertising practices were/are deceptive, and what was promised was not delivered. Attached is the email I sent and the nature of my complaint. To Whom It May Concern, We attended a free seminar on flipping houses on 17 January, 2015 in Raleigh, NC. During the seminar we were told that "we couldn’t possibly cover everything" in a short period of time and encouraged us to sign up for a 3-day Workshop. The 3-Day Workshop would be tailored to our local area where we would be provided with a detailed system for flipping houses, access to an exclusive list of investors, and where to find properties in our area. The book that Premier Financial Training gave us when we purchased the class looked promising as it contained good concepts…however, on the first day of the Workshop, we were told to “leave it home,” thus, what we thought we purchased was not discussed or reviewed. We attended the workshop in Wilmington, NC from 6-8 February, 2015. While high level concepts were presented, we never received a detailed process on how to flip homes from start to finish. Additionally, the workshop that we purchased was not a “workshop” by definition as we were not allowed to ask questions to the speaker. At one point the speaker (***** ******, a.k.a ******), breezed through 6-7 slides in 4 minutes not allowing sufficient time to write information down. When I questioned Mr. ****** at the next break, he told me that they were not part of the handouts and I could not have access to the information. Our first day assignment (to be completed during our 2:16pm lunch break) was to raise $50K in “seed capital” by opening new credit lines and extending the credit lines on our current credit cards. We were also taught tactics how to get around the initial credit card representative and to get to the “Manager” who could raise our credit limits. We were told to be tenacious and not to give up if they denied the request for increasing our credit limits…”it may take 9 or 10 attempts before you succeed.” Much of the remaining 3-days were spent talking about the necessity of “mentors,” increasing our credit limit and purchasing additional training provided by Premium Financial Training. A significant portion of the 3-Day Workshop was spent generating commitment to join “Team W,” (meaning we had purchased an advanced training package). Much less time was spent showing us how to flip houses in our local market. In fact, at least one concept presented is an illegal practice in North Carolina. In summary, we were deceived into purchasing a product that was not delivered. We never received a detailed system for flipping houses, access to an exclusive list of investors, and where to find properties in our area. The printed Workbook material that we were provided when we purchased the 3-Day seminar, was not used or reviewed. The program for finding properties was briefly shown, but we could only have access if we purchased one of the advanced training sessions costing an additional $21,297.00 - $41,297.00 We respectfully request a refund of the $1997.00 that we paid. Additionally, we request a response within the next 5 business days (no later than 27 February), via email or mail. I am providing my personal information below and expect that it is treated with confidentiality as Personal Identifiable Information. Respectfully,

Desired Settlement: I am requesting a full refund, as what was advertised was not delivered.

Business Response: Mr. ***** paid $1,997 to attend the 3 Day Workshop which he did attend. At the time of purchase Mr. ***** signed a contract agreeing the the cancellation/refund policy which reads as follows: "No Questions Asked" Refund Policy: You may cancel this transaction at any time prior to three (3) business days after purchase. Mr. ***** never contacted us to cancel in that time frame.

In addition, Everyone at the event was asked to fill out a Satisfaction Survey at the end. The surveys from all attendees give positive feedback. Mr. ***** chose not to fill one out. Had he done so we would have been able to address his concerns.

We also gave Mr. ***** a $200 travel voucher so he is now out of pocket $1,797 rather than $1,997.

Due to the reasons stated above, Mr. ***** is not eligible for any type of refund but we will however refund him $*** for his dissatisfaction. The refund will be processed upon his agreement.

Business Response: I need Mr. ***** to call me at ************ Ext. *** to confirm his credit card information so I can process the $***.

Consumer Response:
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. Please let me know the next steps necessary to finalize this.

Sincerely,

****** *****