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  1. #1

    Nouveau Riche - Legal, but a terrible company

    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.

    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.

  2. 10-12-2006, 10:29 PM

    Reason
    Spam

  3. #2
    Join Date
    Sep 2006
    Location
    Huntsville, AL
    Posts
    271

    Re: Nouveau Riche - Legal, but a terrible company

    No offense but I do not see how they can even call themselves a university. Look up the definition and you will see that they are nothing of the sort!!! Or check the college and university listings and you will not find them!! I couldn't see anywhere on the site that they even offer Bachelor degrees or higher!! It seems to me that it is a company that offers educational services to help with real estate and nothing more, and so they are being misleading by calling themselves a universtiy!!!

    It should be illegal for a company to call themselves a college or university when they are only offering educational services in one field!!

  4. #3
    Join Date
    Jun 2006
    Posts
    3,120

    Re: Nouveau Riche - Legal, but a terrible company

    Nouveau Riche provide "honorary masters degrees". There got to be a law against this scam.

  5. #4
    Join Date
    Nov 2006
    Posts
    1

    Re: Nouveau Riche - Legal, but a terrible company

    Yes, this is legal but a total scam. They put signs up on freeway entrances saying "Multi Millionaire looking for Real Estate apprentices” inferring they have a job waiting for you when they are really trying to sell you into taking Real Estate classes from a school that has all types of negative write-ups all across the internet. If you don’t believe me, do a google search for Nouveau Riche + scams.

  6. #5
    Join Date
    Dec 2006
    Posts
    2

    Re: Nouveau Riche - Legal, but a terrible company

    I have attended the University and I have learned a great deal from doing so, however the marketing aspect of it is misleading. I called off one of those freeway signs.
    When I first contacted them I thought I was going to be able to work with an investor doing real estate deals here in CA. Instead they wanted me to purchase educational materials. I have to say I was very disappointed at that time to find out that I was not going to be Mentored by a investor personally!

  7. #6
    Join Date
    Dec 2006
    Posts
    1

    Re: Nouveau Riche -

    I am a student at Nouveau Riche, not a marketer. I started in May 2006, with NO experience and attended the college in July 2006. By September 14th I had helped 2 families out of forclosure, get into a better situation, I helped them with moving expenses and put money in their pockets. It costed me no money and I did not use my credit. In 2 months... I made $12,014 on the first property and $17,610 on the 2nd property + I helped 2 families who would have otherwise been left with ruined credit and no money. As of December 1st, I have 2 more properties that are cashflowing ($688/month passive income + $60,000 in equity)! I am now doing this full time and I LOVE IT, I LOVE MY MENTORS, I LOVE THE COMMUNITY, I LOVE NOUVEAU RICHE UNIVERSITY!! I could care less that someone made a commission off of my tuition--- for me, the education paid for itself in 2 months just by doing what they taught me! Plus I made more money in 2 deals (in 2 months) than I used to make in a year as a fire fighter! My independent student advisor (the one that made commission), as well as my instructors help me when I have real estate questions! ITS BEEN WELL WORTH IT TO ME BECAUSE I TOOK ACTION, I DIDN'T EXPECT SOMEONE TO MAKE ME RICH, I JUST DID WHAT THEY TAUGHT ME! NO ONE PROMISSED ME ANYTHING!

    You could sit around and complain about whatever you want to buddy, but while you are sitting in negative land, picking apart life's opportunities, I am TRULY enjoying my life as a successful real estate investor, HELPING PEOPLE and making a wonderful income at the same time! ITS MORE FUN TO PLAY IN THE POSITIVE LIGHT! GET OUT OF THE DARK MAN!

    p.s. I've read REI books from the authors that you described, they are decent books, but unfortunately they don't give you instruction on how to create deals. They are great stories, but no instruction. If you don't know the right contracts to use, know when to use them, know how to negotiate, and if you don't have a mentor, etc. Its really easy to get yourself into trouble with real estate. Good luck to you.

    Jeff
    --------------------------------------

    Quote Originally Posted by guancheman
    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.

    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.

  8. #7
    Join Date
    Jan 2007
    Posts
    2

    Re: Nouveau Riche - "University", after research...10+

    While I do not totally disagree that using the term "University" could be misleading, there are MANY, MANY companies that add the word University to their name.
    As a Business Consultant, I can understand why they use it... It simply referrences that they are a higher education company. My friend Josh was looking into becoming a student at NRU and asked me to help him in researching/analyzing this company-- since I ran across this posting, I thought I'd share my results.
    In my research I've found that they have the recommendation of "American Council on Education" (ACE College Credit Recommendation). This is a VERY good thing, that means that some of their courses could be transfered to be used in a degree at over a thousand colleges nationwide. I wish I would have known about this while I was getting my Business Degree, I would love to know how to invest my money in real estate because my mutual funds have been no good! I used the ACE credit transfer process when I went to a community college, then transfered to a larger college, it was very helpful to know that I wasn't losing those credits.
    So is this company a scam? In my opinion, as a business consultant, and doing a lot of research...NO! (After investigating the facts and not listening to nay-sayers) Here is why:
    1. They have a credit recommendation from the American Council on Education (they are very strict in who they recommend)
    2. Their business system is very beneficial to everyone, they include their students so that they can produce income to put into real estate investments if they choose. I'd have to say, the marketing is not for everyone, but can be very beneficial to assist new investors get off the ground.
    3. Their tuition includes a partner for free! Great idea! They have the right idea here, I believe that having a partner is great for many reasons, such as, accountability, leverage and support are huge when doing ... just about anything!
    4. They have nearly everything that is needed for investors to succeed. Investors need to build their team, so they built an exclusive system for them. They have a mortgage company, credit repair company, accounting company, access to real estate attorneys, entity structuring, retirement planning, and the investor concierge, they really want their students to succeed.
    5. If you buy the Regents Tuition, you get all of the recorded college classes on audio CD so that you can go back and listen and refresh.
    6. They don't upsell you. Books and materials are included in tuition.
    7. Repeat classes for free.
    8. 86% Student Success Rate. This is a great percentage. I am sure that this fluctuates a little bit depending on various circumstances. This percentage is based upon students that have purchased at least one investment property other than their primary residence. (this is the highest percentage of success that I have seen with real estate investing education companies.)
    9. Their instructors are very successful full-time investors (strict criteria)
    10. They use the ISD process when teaching, this means Instructional Systems Design. Colleges use this process of teaching for the best retention of their students.

    I have not found any reason to claim that this company is a "scam" in any way. I've been researching and talking to students and a few instructors across the country for the last 6 weeks and I've found nothing but outstanding results. My friend Josh and his wife will be attending NRU. I am considering it too!
    ________

    Quote Originally Posted by jon8105
    No offense but I do not see how they can even call themselves a university. Look up the definition and you will see that they are nothing of the sort!!! Or check the college and university listings and you will not find them!! I couldn't see anywhere on the site that they even offer Bachelor degrees or higher!! It seems to me that it is a company that offers educational services to help with real estate and nothing more, and so they are being misleading by calling themselves a universtiy!!!

    It should be illegal for a company to call themselves a college or university when they are only offering educational services in one field!!
    :)

  9. #8
    Join Date
    Jun 2006
    Posts
    3,120

    Re: Nouveau Riche - Legal, but a terrible company

    My friend Josh and his wife will be attending NRU. I am considering it too!
    I thought you are business consultant.

    Bunch of shills are overruning this topic

  10. #9
    Join Date
    Mar 2006
    Posts
    2,505

    Re: Nouveau Riche - Legal, but a terrible company

    Boy Oh! Boy-----the Nouveau Riche Sharks love to swim in this pond looking for victims. If you are considering joining this program, you are nothing but bait. Get out of the water while you still have you arms and legs!!!!!!

  11. #10
    Join Date
    Sep 2006
    Posts
    112

    Re: Nouveau Riche - "University", after research...10+

    Quote Originally Posted by kyle_79
    While I do not totally disagree that using the term "University" could be misleading, there are MANY, MANY companies that add the word University to their name.

    Here's another "university" : http://www.trumpuniversity.com/

  12. #11
    Join Date
    Jan 2007
    Posts
    2

    Re: Nouveau Riche - Legal, but a terrible company

    Can anyone who has negative feedback on this company give personal experience to back up their claims. I've come across one of their marketers as well. First of all I've done MLM's and companies that claim they are not MLM's but are. I saw an ad on YahooJobs for Investor Apprentice. What they are promoting is something I've been trying to do even before I heard of them (wholesaling real estate, short sales,etc). I had an idea that this was not a job but checked it out anyway. Investors don't need to hire anyone to help them put a deal together. That's what their circle of professionals are for (attorneys, title co, appraisers, etc.) All they do is structure it to make sure it's profitable for them and let everyone else do their thing. Everyone not in-favor-of is only talking "The university this, the university that". I want to hear personal experiences like "I went through this", "I experienced that", and so on. Tell us how HARD you WORKED THEIR SYSTEM AND IT STILL DIDN'T WORK. I'm not a fan of MLM's or trying to persuade anyone to buy anything but if someone can teach me the intricate details about something I already have a passion for then you don't have to sell me on it. I've worked a 9-5 factory job, I currently work in the mortgage industry under a friend of mine and as an independent insurance adjuster. I have a solid work history and work ethic. I can go get a job anywhere but why would I want to make someone else rich. Isn't that the argument about MLM's and pyramid schemes? At my mortgage job I only get paid when a loan closes. No salary or benefits (at least none I can afford). I've got CD's and ebooks on the subject but you don't get everything you need to know for $49.95 price. Just reading a book is not going to get you started and motivated to overcome the obstacles. The book is not going to follow up with you to make sure you followed the steps correctly, the book is not going to push you when you get scared, the book is not going to answer those unthought of scenarios. You have to get upsold to go to the 3 day boot camp for $2000 or buy the complete package of CD's, all the forms you need, manual and 2 one-on-one phone mentoring sessions for $1500. I'm in the residental mortgage industry and know I don't know everything about this part of real estate . The concepts, rules and parameters are not the same. I'm not even promoting this university but if you are going to get personal mentoring in the best investment vehicle out there...........................what's the problem. The $15K that the university courses cost I KNOW FOR A FACT IS WELL WORTH THE COST......if you have it to spend. Wholesaling or short sale on one deal alone can more than pay for that. Heck, I bought a foreclosure to live in, refinanced it 6 months later and pulled out more money than that. If someone went to this university and couldn't at least make back what they spent then I think you are the scam as a matter of fact they need to find a window in the tallest building and jump out of it.........with the window closed. I can't see how you can lose your money or become more in debt with this unless the school vanished off the face of the earth. I heard they even give you properties to put a deal together........with equity. Doing this on your own will slow you down right there, FINDING PROPERTIES.

    [INDENT]I'm not even talking about marketing their stuff to other people to make money either. I'm strictly talking about attending this university to learn the ropes. I can almost cuss because wholesaling and short sales do not require you to use any of your own money or credit just structure the deal to move the property and make money. In this case even if the university DID rip you off you can still get a deal done on your own and make the money back.....................since it's so easy to just read a book or two!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :cool:

  13. #12

    Re: Nouveau Riche - Legal, but a terrible company

    The very 1st time I met Dolf de Roos was Dec 2002 at a friends house where about 120 people were meeting to hear about a new training program. It was called Nouveau Riche. Dolf was there as the company spokesperson and a very well produced DVD was played with Dolf stating his strong belief and confidence in the integrity of the Founders of NR. He also went on for 90 minutes about the invaluable service that a "community" of Property Investors brings to your success. So I agree with guancheman that Dolf is a great Teacher and I took his personal advice and signed up. Through NR I was able to experience meeting Dolf again dozens of times. Now they have an entire faculty of experienced Instructors to offer and we've bought and sold $Millions in property because of this training. Anyone can tell you why something won't work. If you want proof of success in REI then contact any NR office and they have real stories to share (including mine).

    Quote Originally Posted by guancheman
    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".

  14. #13
    Join Date
    Jan 2007
    Posts
    2

    Re: Nouveau Riche - Legal, but a terrible company

    Quote Originally Posted by borisf96
    I thought you are business consultant.

    Bunch of shills are overruning this topic
    I am a business consultant, like I said in my post... "I would love to know how to invest my money in real estate because my mutual funds have been no good!" That is exactly why I said I am considering it. I am like many people my age... considering retirement in the next 20 years... its not looking to bright with current retirement funds. I realize that i need to take control of it.

    As for your comment "Bunch of shills are overruning this topic"... you definately belong on this website.... EVERYTHING AND EVERYONE IS A SCAM!!! LOOK OUT.. OH MY GOD EVERYONE IS OUT TO GET YOU!
    I spoke to many people with tremendous success stories and proof to back it up.. I feel its necessary to commend companies that ARE doing GOOD business.

  15. #14
    Join Date
    Jan 2007
    Posts
    1

    Re: Nouveau Riche - Legal, but a terrible company

    Well, there is certainly a lot of passion here on this forum. There are those that are for and those that are against. Some of the for seem legit and some of them look like a NR PR ad ;)

    I have been investing full time for several years and part time for longer than that. I/we closed 90 transactions last year including numerous SS, rehabs, LO's, and wholesale deals. Next week we will net around 100-110K from the three that we are doing this month. All without NR training or participation.

    I have attended their meetings, have been asked to teach and participate. I think they do a nice job with a lot of smoke and mirrors to present a product. I have heard good things about their "university".

    That said I think the training is very expensive and generally not done by 100% still active investors. I have called on a fair number of those signs at the side of the road and found that they are selling a product and I have yet to talk to someone that has actually done a deal.

    Most of the time I get someone who is trying to sell enough product to go out and do a deal.

    It doesn't take $$ to invest in real estate. I have paid out 40-50K in the last 3-4 months for contract assignments and bird dog fees to people that brought me deals. I partnered with one other who found a deal and I financed the purchase and most of the repairs and he walked away with 30K of a 90K profit.

    As far as helping people in foreclosure the people we help the most is generally ourselves. On my website dumdumdum we offer a lot of solutions to keep them in their homes, repair credit, or avoid foreclosure. With the best e-book on foreclosure I have seen I still get very few people that want more than $1000 that we give them to vacate the property when we purchase it.

    The best education I think is found a your local REIA and much much cheaper!

    Randall
    Last edited by katiescorner; 08-11-2007 at 02:20 AM.

  16. #15
    Join Date
    Jan 2007
    Posts
    2

    Re: Nouveau Riche - Legal, and a great company

    This company has change my life. I was about to spend $32k on Russ Whitney's real estate course "one of the less expensive they have to offer" and found NRU which seemed to be a much better deal.

    I've done much better with the education and local support then I was doing before I had it.

  17. #16
    Join Date
    Feb 2007
    Posts
    1

    Re: Nouveau Riche - Legal, but a terrible company

    I have been involved in Real Estate for a number of years. I have been a realtor to investor, conventional investing to totally outside the box. This is not just a job, it is a life style. It is not for the weak minded or those that think inside the box. I do not want to come across rude. That is not my intent. What I am saying is there are two types of people- those who need stability and those who work well in chaos. I wish that I could be content with the 9-5 job, but I crave excitement and overwhelming challenge. I work well under pressure and enjoy the fight. This investing life can be very lucrative and very exciting, but also very stressful and complicated at times- This is not for every type of person. If you want to get ahead you have to make it happen, not everyone has it in them. That is why they have 9-5 jobs. By the Way…. I have no affiliation with Nouveau Riche, but 15-16k for 4 weeks of training sounds like a reasonable price. If it brought you to one transaction it should bay you back 2x. We will not even get involved in a deal that doesn’t make us 30k+.

    Real Estate can make you a LOT of money, but not everyone is cut out for it. Don’t take it out on some company trying to sell training. My friends have been picking my brain for years trying to get the ends and outs every time we talk. If I had the time I would teach classes as well- There is a ton of interest. I went to Beauty School years ago, spent $9,500.00 worked my tail off 9-10 hours a day at topped at 40k after all products, space, advertising, etc; it just wasn’t worth it. Real Estate has made me 115k since August- and I haven’t been working all that much!!

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