I was told at the seminar that I would be "walked through" the entire training process of how to buy, fix, then "flip" real estate properties for a profit. Also included in the training I was also told I would be taught how to obtain real estate properties by paying off any back taxes that my be owed on distressed properties. For this I was charged $1,500.00 to enter into the training, and an additional $3,500.00 for the "Tax Lien Vault" program. I was then told to go to the internet, look under "Premium Financial Training.net" to watch several training videos on the subject. When I tried to find Premium financial training.net on the internet, there was no such internet address to be found. Instead, there were only sites that told of this "alleged" company's fraudulent activities. I am very, very disappointed about this and would be extremely interested in getting my money back, as it was all the money i had in the world. I was simply trying to better my life in a field I have always been interested in becoming a part of.
My wife and I attended the initial seminar and bit on the $1997.00 pitch to attend the 3 day workshop. We were promised a lot of things that sounded amazing and easy.
Upon attending the workshop, led by David or "Fryman", we ended up attending what was more like a motavational class. Worst of all , it all eventually led to the outragous pitch of $23-$43,000 for "advanced" training. Because "we can't possibly teach you everything in 3 days."
There were a lot of gimmicks and some amazing sales techniques and a lot of people were hooked. They push you to raise seed capital by opening new credit cards, calling current cards for increases, and borrowing money against your equity and 401K. The challenge was to raise $50,000 in seed capitol. How much is their "most popular" package? $43,000. Coincidence?
I'm not saying that these people do not do real estate and don't make money. I'm not saying no one who attends their training cannot make money. I am saying that a TON of people will end up broke and have horrible credit. These people are masters at what they do. This is a multi-million dollar sales pitch that counts on the fact that most people cannot afford to move past the initial $2000. Cha-ching...$2000, cha-ching...$2000...
Thousands and thousands of people all drawn in the the faces of Tarek and Christina from Fip or Flop. Will I recover? Absolutely. Will others? Sure. Many will not.
With a good intention, on August 8 to august 10, 2014 my sister in law and I attended the 3 days seminar in San Jose Hilton. We were convinced to continue with the program and we signed the continual education agreement for $26K. At that time, I told the mentor that I could not pay the whole amount at once. I do not have credit card to cover those whole amount and my sister in law told him that she was in the refinancing her place.
He agreed to take some of the amount ($5K) and we promised that we will pay the remaining after we apply and get our new credit cards. (They taught us to apply a lot of credit cards to cover this education cost of $26K)
But, later on we found out we were treated with no respect and now I am working to get the refund from Credit Card Company since the company told us that we can’t get the refund. THIS IS RIPOFF !! One of the same attendee already paid $26K and he feels the same thing. I WANT FULL REFUND OF $17K WHICH THAT AMOUNT I PAID SO FAR!!!!!
We understand that we signed the agreement with a good hope that this company will help us to success. The merchant has to KNOW and UNDERSTAND that they have to deliver their promise to help us success, act professionally, responsive and respectful. In my current situation, they just left us alone and made us struggle to find out the information by ourselves. They are not responsive and lack of responsibility.
I addressed my disappointment by not getting update information about the other classes or training, and also about the business that they taught us is not applicable in the current market. Instead of trying to help us, they commented that we didn’t work hard. I feel it is humiliation since I know myself that I already put my best effort and knowledge based on their teaching in the boot camp but they did not value our effort and made an easy judgment to put us down while they themselves do not give us sufficient support. The fact, I found out later that the knowledge they shared in the bootcamp is not applicable anymore in this current market.
We made total payment of $17,000 and only attended 3 days boot camp which the information was given in the boot camp was not up-to-date with the current situation. We discussed with several realtors and found out the calculation/the formula they gave us was not applicable in the current market, it may work 10 years ago since the market at that time was weak. THE INFORMATION WAS SHARED IN THE BOOTCAMP IS OLD.
About amonth after we signed the agreement, one customer service called asking for the balance payment to my sister in law since we have not made a full payment of $26K. I do not know what technology this company has, the customer service called my sister in law using my phone number. When she saw my phone number, she picked up the phone. She was shocked because in the line was not me but the customer service who was so mean and rude. He called and asked the balance payment. At that time, she explained that her credit card is not ready yet but he said,” I don’t care but you have to make the payment now”. He was so cold-hearted, mean, and rude. I never forget this incident because it is one of the actions that this company is acting unprofessional and invading my privacy. The next day after I sent the email to complain the situation, one gentleman named Chad Olson, Senior Director of Financial Training wrote me an email, called left a message asking apology. I called him back and he promised to make it better and in return he will help us to get success. But after that, I never heard back from him. I called him several times but not response.
I remembered clearly when they promoted their program, the presenter stated: “This is the ONLY marketing for training I offer to everyone, after signing up this program, we will not offer any other program but focus on helping you to get success”. In fact, within two weeks after signing up, we were called two times by the customer service and offered a new program they called “Inner circle”. The customer service was very persuasive. In one of the calls, I spoke with Greg, I told him, “No, I am not interested with your program.” As soon as I gave that answer, he was becoming aggressive and putting me down. He even said, “You are not success because you do not have network which it can be provided with this program (the program he offers “Inner circle”)”.
I was thinking, we signed the initial program which is not cheap ($26K total) with good hope that we get a proper knowledge and network as they have promised. I told him that we paid the program already and hoped somebody will guide and help us. We do not want to spend more money when our training is not fruitful yet. I questioned him and requested him if he can provide me some information, but he said “It is not my job to provide you the information; you can look it up online”. We paid $17,000 already but in returned we only get that nasty answer from customer service. After I questioned it why, he became furious and hang up on me.
In different time, we called and tried to find the information the customer service just say, “You can browse and google it online”. I am not expecting that answer for the amount of money we paid to the flipping company.
I am as a customer have right to REQUEST FULL REFUND for the transaction when the merchant is not keeping their promised, invading my privacy, humiliating the customer and fail to deliver their promise to their customer. The damages we have absorbed are not little:
Invading my privacy that the company is using the technology to use my phone number to call my partner (my sister in law) to ask for the remaining balance
My credit score is damaged since I have to apply more than 3 credit cards to make the payment
The information was given is not current; they sell the old information and they humiliate our effort when we tried our best to make it happened.
The company promised us to provide:
3 days boot camps,
3 days investor summit in Vegas (including lodging for 2 people),
2 days marketing camp,
2 days wealth strategy camp,
3 online training courses.
BUT, we only get 3 days boot camp WITH OLD AND NOT UP TO DATE INFORMATION and one basic online training. NEVER get information about the others.
I am requesting a full refund of $17K from the Flipping Formula (Premium Financial Trainiing)
Below is an overview of what we have experienced. I am writing this letter to Premium Financial as an official notice of a refund request for the “ tuition fee” paid to your institution on the basis that nothing of which was solicited to us has turned out to be true or remotely close to factual. In fact this marketing scam has all of the financial equivalent of a Ponzi Scheme, in which a group of people “actors” pretend to be real estate investors who claim to be willing to give you all the secrets of untold wealth in the real estate for a mere $41,297. In fact this truly is a long play con. And one that apparently works very well. I will continue by listing a few of the discrepancies, mainly for the viewing of the credit card companies with whom we have disputed the “tuition” charges and our attorneys, who I am currently having look into filing a class action law suite against Premium Financial so that it may be deterred from taking advantage of more people. In the initial meeting with Mark Chapman, it was said we could follow this program with no money out of our pocket for purchasing properties no matter what capital or credit we currently had. Obviously the key to real estate investing is being able to purchase real estate. We were promised access to funding with unlimited financing up to a half million dollars to cover the cost of purchasing and rehabbing properties with no out of pocket cost until the property was sold. Come to find out that is not the case. When the program was explained to us in the December workshop this topic, though ask about by several people attending the event, was continually avoided and passed over. With good reason because it was an out and out lie. Without access to the financing that was promised the whole program is worthless to us. The whole premise is based upon not only being able to locate properties at absurdly discounted prices, which we were also promised that the system would deliver to us and doesn’t, but putting in offers and purchasing said properties with “someone else’s money.” As mentioned the financing portion was not even covered at the seminar in December. It wasn’t until the following appointment which was titled a 3-day bootcamp where the speaker was again asked about this key element and his answer was he knew nothing about such a program. He said the only funds that are available are strictly transactional and they do come with upfront fees to use them and payments must be made even before the property is sold. Obviously a completely different story then what we were told at the beginning prior to us paying out $42K. The idea on financing that was heavily drilled into participants was to exacerbate our credit lines and open as many credit cards as possible and alternating your due dates of said cards and use varying cards to pay off balances accrued on other cards. Which may or may not be illegal depending on who you talk to. And it is suggested to continue doing this process until your able to pay the balances in full with the proceeds from the sale of the property purchased with the credit cards. I have spent countless hours following everything that I have been given to do, only to find very few properties that fit the criteria given to us during the seminar, and those that come even close have given no consideration to the ridiculously low offers we have been instructed to extend. We have placed ads, sent direct mail pieces, gone to REIA meetings, as well as designed and purchased a new website, and paid to set up our LLC. Which three LLC’s were supposed to be included in the purchase price. This also brings me to another point in which I drew a red flag regarding this outfit, because the advice we received regarding the nature of which the company was to be structured from the provided consultants didn’t coincide with any of the CPA firms we consulted privately. And when asked questions regarding the methodology there was never a clear response. Simply this is what we recommend though you can do it any way you like. Almost as if the so called consultants were just reading a script. Another major selling point which was highly promoted during the three day seminar in December was a software titled “Property Farm” This software was described as the golden tool with regards to locating properties which meet the criteria or formula as it was termed, that would allow much of this to be possible. And as with the financing that was promoted to us, this too was a joke. When we were at the buying table we asked to see a version of the software, only to be told a flat out no. That there was no copy there. Which didn’t make any since considering it is a software you log onto a server to access. I mean out of the entire team that was there no one could manage to log into the server to show it to us. Now I know why. Of course we should have know when the team member that took our money not only told us no flat out fund it on some of the new credit cards we had just opened the day prior. Great except it takes a few days to receive those cards in the mail. Next suggestion; write us a check and we will hold it until your credit cards arrive. Thankfully we were smart enough to place a stop payment on the check the following day. Come to find out after speaking with another couple at the following bootcamp, they were not so lucky. Premium Financial cashed the check along with processing the credit cards for the full purchase amount. We also learned that there were other people who received the same package from Premium Financial for as little as $12,000. Now far be it from me to begrudge one’s negotiating skills, however it would seem to me that if this were truly a legitimate company offering truly legitimate services I just cant imagine they would except giving somebody the same information that others paid nearly for times as much for. That would be like me walking into the financial department at the University of Texas and saying I want an engineering degree from your institution, but I’m only willing to pay a fourth of the price for it and they just miraculously say....”Sure why not.” And last but not least came the wake up call. As if all of the wasted hours attempting to follow this crap wasn’t enough, we received a call with a special invitation to join an elite group that’s success stories would be used to prompt Christina & Tarek’s HGTV show. Yes it was so elite that they wanted a minimum of another $15,000.00. Just to receive phone calls helping us make our business a success. Pretty ironic considering we were told from the beginning our $42k purchase included phone support. These are just a few examples of how Premium Financial has failed to deliver on the promise of the the products and services which we were sold. They refuse to talk to us and to the credit card company.
I am a student I paid for the full program. I made my money back and some on my first deal and within 6 mnths of joining I now have doubled my cash goal that was a 24 mnth plan, own 2.5 in assets and pay myself a wonderful salary and have capitalized my corporation in a way that has changed my life..i believe it's up to us as individuals to use the tools provided by the training to succeed or not. Just saying..i did it and honestly it was a life changing investment!
I sure hope u are wrong because i bit it too.i have to do a lot of things to do just to be able to make money but it all makes sense if i do what they are training me for.
Premium Financial Training Reviews
I was told at the seminar that I would be "walked through" the entire training process of how to buy, fix, then "flip" real estate properties for a profit. Also included in the training I was also told I would be taught how to obtain real estate properties by paying off any back taxes that my be owed on distressed properties. For this I was charged $1,500.00 to enter into the training, and an additional $3,500.00 for the "Tax Lien Vault" program. I was then told to go to the internet, look under "Premium Financial Training.net" to watch several training videos on the subject. When I tried to find Premium financial training.net on the internet, there was no such internet address to be found. Instead, there were only sites that told of this "alleged" company's fraudulent activities. I am very, very disappointed about this and would be extremely interested in getting my money back, as it was all the money i had in the world. I was simply trying to better my life in a field I have always been interested in becoming a part of.
My wife and I attended the initial seminar and bit on the $1997.00 pitch to attend the 3 day workshop. We were promised a lot of things that sounded amazing and easy.
Upon attending the workshop, led by David or "Fryman", we ended up attending what was more like a motavational class. Worst of all , it all eventually led to the outragous pitch of $23-$43,000 for "advanced" training. Because "we can't possibly teach you everything in 3 days."
There were a lot of gimmicks and some amazing sales techniques and a lot of people were hooked. They push you to raise seed capital by opening new credit cards, calling current cards for increases, and borrowing money against your equity and 401K. The challenge was to raise $50,000 in seed capitol. How much is their "most popular" package? $43,000. Coincidence?
I'm not saying that these people do not do real estate and don't make money. I'm not saying no one who attends their training cannot make money. I am saying that a TON of people will end up broke and have horrible credit. These people are masters at what they do. This is a multi-million dollar sales pitch that counts on the fact that most people cannot afford to move past the initial $2000. Cha-ching...$2000, cha-ching...$2000...
Thousands and thousands of people all drawn in the the faces of Tarek and Christina from Fip or Flop. Will I recover? Absolutely. Will others? Sure. Many will not.
With a good intention, on August 8 to august 10, 2014 my sister in law and I attended the 3 days seminar in San Jose Hilton. We were convinced to continue with the program and we signed the continual education agreement for $26K. At that time, I told the mentor that I could not pay the whole amount at once. I do not have credit card to cover those whole amount and my sister in law told him that she was in the refinancing her place.
He agreed to take some of the amount ($5K) and we promised that we will pay the remaining after we apply and get our new credit cards. (They taught us to apply a lot of credit cards to cover this education cost of $26K)
But, later on we found out we were treated with no respect and now I am working to get the refund from Credit Card Company since the company told us that we can’t get the refund. THIS IS RIPOFF !! One of the same attendee already paid $26K and he feels the same thing. I WANT FULL REFUND OF $17K WHICH THAT AMOUNT I PAID SO FAR!!!!!
We understand that we signed the agreement with a good hope that this company will help us to success. The merchant has to KNOW and UNDERSTAND that they have to deliver their promise to help us success, act professionally, responsive and respectful. In my current situation, they just left us alone and made us struggle to find out the information by ourselves. They are not responsive and lack of responsibility.
I addressed my disappointment by not getting update information about the other classes or training, and also about the business that they taught us is not applicable in the current market. Instead of trying to help us, they commented that we didn’t work hard. I feel it is humiliation since I know myself that I already put my best effort and knowledge based on their teaching in the boot camp but they did not value our effort and made an easy judgment to put us down while they themselves do not give us sufficient support. The fact, I found out later that the knowledge they shared in the bootcamp is not applicable anymore in this current market.
We made total payment of $17,000 and only attended 3 days boot camp which the information was given in the boot camp was not up-to-date with the current situation. We discussed with several realtors and found out the calculation/the formula they gave us was not applicable in the current market, it may work 10 years ago since the market at that time was weak. THE INFORMATION WAS SHARED IN THE BOOTCAMP IS OLD.
About amonth after we signed the agreement, one customer service called asking for the balance payment to my sister in law since we have not made a full payment of $26K. I do not know what technology this company has, the customer service called my sister in law using my phone number. When she saw my phone number, she picked up the phone. She was shocked because in the line was not me but the customer service who was so mean and rude. He called and asked the balance payment. At that time, she explained that her credit card is not ready yet but he said,” I don’t care but you have to make the payment now”. He was so cold-hearted, mean, and rude. I never forget this incident because it is one of the actions that this company is acting unprofessional and invading my privacy. The next day after I sent the email to complain the situation, one gentleman named Chad Olson, Senior Director of Financial Training wrote me an email, called left a message asking apology. I called him back and he promised to make it better and in return he will help us to get success. But after that, I never heard back from him. I called him several times but not response.
I remembered clearly when they promoted their program, the presenter stated: “This is the ONLY marketing for training I offer to everyone, after signing up this program, we will not offer any other program but focus on helping you to get success”. In fact, within two weeks after signing up, we were called two times by the customer service and offered a new program they called “Inner circle”. The customer service was very persuasive. In one of the calls, I spoke with Greg, I told him, “No, I am not interested with your program.” As soon as I gave that answer, he was becoming aggressive and putting me down. He even said, “You are not success because you do not have network which it can be provided with this program (the program he offers “Inner circle”)”.
I was thinking, we signed the initial program which is not cheap ($26K total) with good hope that we get a proper knowledge and network as they have promised. I told him that we paid the program already and hoped somebody will guide and help us. We do not want to spend more money when our training is not fruitful yet. I questioned him and requested him if he can provide me some information, but he said “It is not my job to provide you the information; you can look it up online”. We paid $17,000 already but in returned we only get that nasty answer from customer service. After I questioned it why, he became furious and hang up on me.
In different time, we called and tried to find the information the customer service just say, “You can browse and google it online”. I am not expecting that answer for the amount of money we paid to the flipping company.
I am as a customer have right to REQUEST FULL REFUND for the transaction when the merchant is not keeping their promised, invading my privacy, humiliating the customer and fail to deliver their promise to their customer. The damages we have absorbed are not little:
Invading my privacy that the company is using the technology to use my phone number to call my partner (my sister in law) to ask for the remaining balance
My credit score is damaged since I have to apply more than 3 credit cards to make the payment
The information was given is not current; they sell the old information and they humiliate our effort when we tried our best to make it happened.
The company promised us to provide:
3 days boot camps,
3 days investor summit in Vegas (including lodging for 2 people),
2 days marketing camp,
2 days wealth strategy camp,
3 online training courses.
BUT, we only get 3 days boot camp WITH OLD AND NOT UP TO DATE INFORMATION and one basic online training. NEVER get information about the others.
I am requesting a full refund of $17K from the Flipping Formula (Premium Financial Trainiing)
Below is an overview of what we have experienced. I am writing this letter to Premium Financial as an official notice of a refund request for the “ tuition fee” paid to your institution on the basis that nothing of which was solicited to us has turned out to be true or remotely close to factual. In fact this marketing scam has all of the financial equivalent of a Ponzi Scheme, in which a group of people “actors” pretend to be real estate investors who claim to be willing to give you all the secrets of untold wealth in the real estate for a mere $41,297. In fact this truly is a long play con. And one that apparently works very well. I will continue by listing a few of the discrepancies, mainly for the viewing of the credit card companies with whom we have disputed the “tuition” charges and our attorneys, who I am currently having look into filing a class action law suite against Premium Financial so that it may be deterred from taking advantage of more people. In the initial meeting with Mark Chapman, it was said we could follow this program with no money out of our pocket for purchasing properties no matter what capital or credit we currently had. Obviously the key to real estate investing is being able to purchase real estate. We were promised access to funding with unlimited financing up to a half million dollars to cover the cost of purchasing and rehabbing properties with no out of pocket cost until the property was sold. Come to find out that is not the case. When the program was explained to us in the December workshop this topic, though ask about by several people attending the event, was continually avoided and passed over. With good reason because it was an out and out lie. Without access to the financing that was promised the whole program is worthless to us. The whole premise is based upon not only being able to locate properties at absurdly discounted prices, which we were also promised that the system would deliver to us and doesn’t, but putting in offers and purchasing said properties with “someone else’s money.” As mentioned the financing portion was not even covered at the seminar in December. It wasn’t until the following appointment which was titled a 3-day bootcamp where the speaker was again asked about this key element and his answer was he knew nothing about such a program. He said the only funds that are available are strictly transactional and they do come with upfront fees to use them and payments must be made even before the property is sold. Obviously a completely different story then what we were told at the beginning prior to us paying out $42K. The idea on financing that was heavily drilled into participants was to exacerbate our credit lines and open as many credit cards as possible and alternating your due dates of said cards and use varying cards to pay off balances accrued on other cards. Which may or may not be illegal depending on who you talk to. And it is suggested to continue doing this process until your able to pay the balances in full with the proceeds from the sale of the property purchased with the credit cards. I have spent countless hours following everything that I have been given to do, only to find very few properties that fit the criteria given to us during the seminar, and those that come even close have given no consideration to the ridiculously low offers we have been instructed to extend. We have placed ads, sent direct mail pieces, gone to REIA meetings, as well as designed and purchased a new website, and paid to set up our LLC. Which three LLC’s were supposed to be included in the purchase price. This also brings me to another point in which I drew a red flag regarding this outfit, because the advice we received regarding the nature of which the company was to be structured from the provided consultants didn’t coincide with any of the CPA firms we consulted privately. And when asked questions regarding the methodology there was never a clear response. Simply this is what we recommend though you can do it any way you like. Almost as if the so called consultants were just reading a script. Another major selling point which was highly promoted during the three day seminar in December was a software titled “Property Farm” This software was described as the golden tool with regards to locating properties which meet the criteria or formula as it was termed, that would allow much of this to be possible. And as with the financing that was promoted to us, this too was a joke. When we were at the buying table we asked to see a version of the software, only to be told a flat out no. That there was no copy there. Which didn’t make any since considering it is a software you log onto a server to access. I mean out of the entire team that was there no one could manage to log into the server to show it to us. Now I know why. Of course we should have know when the team member that took our money not only told us no flat out fund it on some of the new credit cards we had just opened the day prior. Great except it takes a few days to receive those cards in the mail. Next suggestion; write us a check and we will hold it until your credit cards arrive. Thankfully we were smart enough to place a stop payment on the check the following day. Come to find out after speaking with another couple at the following bootcamp, they were not so lucky. Premium Financial cashed the check along with processing the credit cards for the full purchase amount. We also learned that there were other people who received the same package from Premium Financial for as little as $12,000. Now far be it from me to begrudge one’s negotiating skills, however it would seem to me that if this were truly a legitimate company offering truly legitimate services I just cant imagine they would except giving somebody the same information that others paid nearly for times as much for. That would be like me walking into the financial department at the University of Texas and saying I want an engineering degree from your institution, but I’m only willing to pay a fourth of the price for it and they just miraculously say....”Sure why not.” And last but not least came the wake up call. As if all of the wasted hours attempting to follow this crap wasn’t enough, we received a call with a special invitation to join an elite group that’s success stories would be used to prompt Christina & Tarek’s HGTV show. Yes it was so elite that they wanted a minimum of another $15,000.00. Just to receive phone calls helping us make our business a success. Pretty ironic considering we were told from the beginning our $42k purchase included phone support. These are just a few examples of how Premium Financial has failed to deliver on the promise of the the products and services which we were sold. They refuse to talk to us and to the credit card company.
sucess
I am a student I paid for the full program. I made my money back and some on my first deal and within 6 mnths of joining I now have doubled my cash goal that was a 24 mnth plan, own 2.5 in assets and pay myself a wonderful salary and have capitalized my corporation in a way that has changed my life..i believe it's up to us as individuals to use the tools provided by the training to succeed or not. Just saying..i did it and honestly it was a life changing investment!
wanting sucess
I sure hope u are wrong because i bit it too.i have to do a lot of things to do just to be able to make money but it all makes sense if i do what they are training me for.