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Thread: nu-way realty

  1. #1
    Join Date
    Dec 2005
    Posts
    1

    nu-way realty

    Hi, I was looking through my emails and recieved this email on my spam mail regarding a company that would let you use there money to invest in realestate and show you how to turn it over for a small fee. Due to the nature of the email, I check out the site that if forwarded me to, but not much information was given, so I filled out the information with my name and number and a Brian Wilson called me on Monday. Well I did not answer my phone until Tuesday since I was at a funeral on Monday.
    Even though I am familiar with salesmen tactics, I found it to be very pushy as to wanting me to hurry up and give him my credit card information so that he could collect his $39.95 for this training packet. I told him that I am not in the habit of giving up money that easily so let me check you out first to see if this company is legit. He wanted to know how financially secure I was and how soon could I have $5000.00 available. I assured him that was not a problem, I just don't part with my money that easily. He gave me all these websites to check out. When I asked him if I could check out the BBB he said Oh sure, but that was not a sight that he readily offered. I told him I would call him back after checking out the information. I talked it over with my husband and visit a couple of sights along with this one, I did not get a satifactory feeling about the whole thing, so I called him back to leave a message on his voicemail at the company that he provided. His name was not on the voicemail box, neither was in on the company directory when I called to go through the menu. At work after the weekend I recieved a call from a Jerry Lynch who was the general manager wanting to know why I did not call Brian back, I told him I did and leave a message on the general mailbox. I reported to the recording, saying I was no longer interested in investing. He ask me did, " I call the secretary of state", I said "no", but I check out the websites and others with information and he hung up on me. Just like that, With that kind of business ediquit I have no respect for this program

  2. #2
    Join Date
    Jan 2006
    Posts
    2

    Re: nu-way realty

    Hello,

    I currently scout for Nu-Way. It is legitimate,however it is not an easy money get rich quick. you are going to have to work to get a purchase through. I just closed on my first home with them and they even went over the inital 200K they put in the contract. I have had some frustrations, but all in all I've learned alot and will make a nice profit when this home resells. I will definately be investing with them again in the future. If you have any other questions about them feel free to ask. I am on a first name basis with most of them up there now, but I was as leary as you in the begining.

  3. #3
    Join Date
    Dec 2005
    Location
    New Jersey
    Posts
    269

    Re: nu-way realty

    diva,

    Use caution with this Company. There is another thread about them on Internet scam.
    Someone at the company became indignant when questioned.
    Don't get scammed. Check out all opportunities or Companies before doing business.

  4. #4
    Join Date
    Jan 2006
    Posts
    2

    Re: nu-way realty

    I am very careful always. But, I have already received over half of my investment back with my finders fee and will definately make well over a at least a 4% return on the resale in less than one year. Typically speaking most investments take at least a year to see any return at all and at this time most returns are an arerage 1.5 to 3%. You can do the math and see that I really can't say anything bad here. Don't get me wrong I know where you are coming from on the skeptic side. (we have all been taken a time or two)The bottom line is that they are for real as long as you can do the work required they will, and have honored my contract and I do enjoy the work.

  5. #5
    Join Date
    Dec 2005
    Posts
    3

    Re: nu-way realty

    Quote Originally Posted by tcurran
    I am very careful always. But, I have already received over half of my investment back with my finders fee and will definately make well over a at least a 4% return on the resale in less than one year. Typically speaking most investments take at least a year to see any return at all and at this time most returns are an arerage 1.5 to 3%. You can do the math and see that I really can't say anything bad here. Don't get me wrong I know where you are coming from on the skeptic side. (we have all been taken a time or two)The bottom line is that they are for real as long as you can do the work required they will, and have honored my contract and I do enjoy the work.
    You're lucky you could get a realtor to work with you...that was my downfall. Plus my location isn't the best location currently. Most of the foreclosures that would be a potential good investment are being assigned to evacuees from New Orleans. All the good bank owned properties are snatched up by investors that can move faster than Nu-Way. All of this combined makes it almost impossible for me while I'm working full time at the day job. I explained my situation to Nu-Way and got a 1/2 my money back. Bad place bad time for me.

  6. #6

    Re: nu-way realty

    Please be advised that Nu-Way Realty is a licensed company only in Arizona. We are not associated with any of the practices described on this forum, such as the $5,000 up front fee for agents etc...

    Other companies have taken advantage of the legitimate Nu-Way name. Be aware that Nu-Way Realty is persuing these companies.

    We are not an investment firm.

    Our website is http://www.nu-wayrealty.com/?go=locations

    Please contact us if you have any questions.

  7. #7

    Re: nu-way realty

    We are Realtors in Arizona who have had the unfortunate experience of entering into business with this company, NU-Way Realty out of Englewood, Co. We were asked for $8500 up front to do 5 deals with them. We were excited and couldn't wait to get started. Since we did not have access to $8500, after many phone calls from the companies rep, Sherry Tremont, Branch Manager, she offered to let us pay half up front and the balance to be paid from the profits of our first deal. We completed the training, which we really didn't need, then started to submit our properties for consideration. We submitted over 7 properties, most were turned down, until they agreed on one. We negotiated over $75,000 off the purchase price and Nu-Way signed a purchase agreement to buy the property. We spent many, many hours to get this deal together and also to get quotes from contractors on the repairs. The Close of Escrow was to be December 27, 2007. The purchase contract was signed on November 12, 2007 and normal time to complete a contract in Arizona is 30 days, however you can negotiate any length if the seller is agreeable. So we also negotiated a longer escrow in order to help Nu-Way get their funding together. The Title Company was in contact with Nu-Way to see whose name the documents should be drawn up in - they never got a response to their many emails and phone calls. December 17, 2007 we started trying to find out that information ourselves and also how Nu-Way would sign the documents, whether via fax or email. They never returned our calls. Then we discovered, we were never informed of this fact, that Nu-Way closed down from December 21, 2007 through January 2, 2008. HOW COULD THEY AGREE TO SIGN DOCUMENTS ON DECEMBER 27, 2007 WHEN THEY KNEW THEY WOULD BE CLOSED.
    The sad end to this is that the seller terminated the contract for non-compliance, they kept the deposit of $1000 that Nu-Way had put down, and we are out our $4250, $2000 finders fee and $6000 real estate commission on the sale. Nu-Way said they were unable to close on the deal, when we were finally able to talk to them on January 2, 2008 after many phone calls - suddenly no one is available to talk to us- we as realtors have mortgage bankers who told us they could fund this deal in 5 to 6 days. We put them in contact with Nu-Way who were supposed to give them the information to process a loan, they never did and did not return any of the mortgage bankers calls or emails. We have decided not to do business with this company, it has damaged our reputation here in the real estate community, and we are out a lot of money. So if any of you would like to contact us we can tell you more, or maybe if someone else has been scammed by the company we could get together to search our options. There are 19 complaints filed with the Better Business Bureau on this company, we have files a complaint with the Attorney Generals office in Denver, Co; the Colorado Dept of Real Estate; the Arizona Dept of Real Estate and the National Association of Realtors. EVERYONE, RUN, RUN, RUN AWAY FROM THIS COMPANY. They are dishonest and extremely rude.

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