I am so glad you came across this site. You are here because you are researching NRU. They should really change their name to Nouveau (you get in debt while WE GET) Riche University. In NRU you will meet the most sincere, nice and lying people in suit-n-tie…
There are 2 ways to get out NRU.
1. Don’t talk to; call or e-mail anyone from NRU. They are all GREAT and I mean really great SALES PEOPLE. And now what they are trying to do is; sell you! Since they got sold for 16-20K! They know every trick in the bag on how to sell you!! They actually hand scripts! on how to get more people in the door.
WHAT? You have no money. No problem; we’ll help you get the student loan! and they have mortgage companies lined up to get you that 40K. Out of that 40K you just borrowed; they will take the 20K.
Why take out 40K if you only need 20K; well, as Dan Read (Dallas’s Independent Team lead http://cashflow.meetup.com/176/members/2458616/) explains; “it’s so that you have a cushion”; incase your payment for your awesome ‘deferred’ 2 student loan comes knocking on your door 2 years later. He doesn’t care nor anybody that’s involved in NRU cares about you; they care about their 8 to 10K commission depending on what kind ‘awesome’ program you buy. You see even thou you have your student load deferred; the juice is still running the loan for that two year; Ya but so what? You’ll have found your new team-members (I mean suckers) so you can build your so called “TEAM” (and take their money)
Here are few of the techniques they use. http://www.scribd.com/doc/2023465/Proof-NRU-is-scam-N-MLM
No time; no problem; signup now! And start part time! Look how well others are doing.
You say I don’t have the cash for that now. They say “Would you be interested if money wasn’t a issue?”.. guess what money is always an issue. We can help you get the loan..
You are afraid; no problem; look we got ‘whole’ team ready to help you!! BULLSHIT they are not going to go out and find you the property in your local area. Why would buy a property in UTAH where you can’t even see the property?
2. If you already signed up and are in that 7 day cancellation period; please ohh please cancel your account.. DO IT NOW. If you used your credit card to signup and the 7 day period has expired; no problem still; if the charge is still not older than 1 month and you have no paid your credit card bill; you are in luck. Call up your credit card company and tell them your computer was HACKED and Credit Card Company will refund you your money; that’s if you have not gone to their college and not paid the credit card bill. Act dumb and tell Credit card company that you have no idea how the charge got their. (ok so they make you sign something with your mouse when you first signed up; guess what that is not a physical evidence; CC will take you side and you will get your money back)
NRU people are nothing but slick talking thugs in suit and tie. And they know one thing ;how to SELL (not real-estate but NRU programs). Most of the people involved will not be doing real-estate but simply marketing? WHY? I tell you why because it’s much easier to find a sucker and take the 10K than actually do the realeaste..
They will talk about how Dean Read and Rob Miles owning multi-million dollar dental clinic. HOW? It’s at your expense. They paid 60K to become regional advisers for dallas and every person that joins NRU in dallas, they make 800 to 1K. So lets see how this works; you just paid 20K for your education and out of that 10K went to the person that brought you in; 1K went to Dan/Rob so NRU is getting 9K for their profit and out that 9K they still make huge profit.
They education system is WAY overpriced. To that their answer is you are looking a smaller picture; think how much money you can make..!
Their education system is filled with way too many stories of how they did the deals to fill the time instead of actually doing the hard-core material work.
If you want to get a good weekend seminar on real estate for $500 try this
http://luinc.com/
here are some more examples of how scummy NRU is.
http://www.truegotham.com/archives/dirty-real-estate-tricks-licensing-scams-and-mortgage-fraud-more-bad-press.html
http://www.scam.com/showthread.php?t=6928
http://www.cockeyed.com/citizen/nouveauriche/nouveau_riche_toc.shtml
http://www.cockeyed.com/citizen/nouveauriche/nouveau_riche07.shtml
Bottom line is this..
Real estate is where all the money is, so it’s also bound to be where the con artists are, too. 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 the money .
HERE is the list of suckers in Dallas area in the Multi-level-Marking NRU programs – 224 that means they at least made 224K. It’s more close to 750K. If you understand how MLM works. This is an MLM because your first two people you bring go to the person who actually brought you over… and that’s what makes it a MLM. a plain and simple pyramid scheme and the person on the top makes the most.. and that’s Dean Read and Rob Miles and Matt and NOT YOU!!!
Abd-Alhadi, Walleed
Able, Jonathon
Agnew, Clark
Alcid, Judith
Aleman, Fernando
Aleman, Monica
Allsup, Paul
Amanda, Caroline
Anderson, Clint
Anderson, Timothy
Aring, Steve
Arnold, Harvey
Auger, Paul
Bankes, Timothy
Bartola, Amy
Bassett, Cassandra
Bejar, Myrna
Bellamy, Betty
Bellamy, Kelly
Bellomy, John
Bennett, Bryan
Blodgett, Thomas
Bongat, Alejandra
Bowling, Jim
Bowman, Stephen
Bowser, William
Brown, Ernie
Browning, Mike
Bullard, Robyn
Butikofer, Jess
Butler, Cameron
Camacho, Jose
Campbell, Richard
Capili, Rod
Carr, Veanna
Caruana, John
Carver, Jon
Celestine, Bryan
Choudhury, Monzoor
Christiansen, JD
Contreraz, Eddie
Cook, Aaron
Cummings, Victoria
D’Arcy, Sharron
Daley, Winston
Daniels, Janice
Daniels, Phillip
Dansby, Ty
Donovan, Michelle
Drysdale, Joseph
Dugan, Gregory
Elmer, Matthew
Eneremadu, Joseph
Enoudo, Edet
Epley, Chad
Epley, Cinnamon
Estes, Larry
Farmer, Steve
Freeman, Lindsey
Fulgham, Leon
Garcia, Pete
Gehlhausen, Denise
Glass, Jodi
Goemans, Catherine
Gonzales, Arturo
Gonzalez, Alex
Goodman, Matt
Goplin, Slade
Graddy, Bill
Green, Jacqueline
Grissom, Doug
Guerra, James
Hamulak, John
Hanlin, Patricia
Hardy, Casey
Harkins, Aaron
Harrison, Joel
Harrison, Rob
Hartnett, Dionne
Hashaway, Omega
Haworth, Curt
Haworth, Curt V.
Herbert, Mark
Herod, Christopher
Hestilow, David
Hoover, Nicole
House, Jon
Howard, Joshua
Hulse, Val
Hyden, David
Irzyke, Bob
Jackson, Bobby
James, Jenea
James, Terry
Jang, Eric
Jenkins, Rashad
Johnson, Darius
Johnston, Miriam
Joiner, Jay
Jones, Helena
Jones, Jaquay
Ashby Jr., Darrell George
Julio, Jose
Kara, Julho
Khalid, Anas
Kroonstuiver, Ronald
Kurtze, William
Larson, Christopher
Lasaki, Tolu
Lay, Richard
Laywell, Gregory
Linsenmann, Richard
Livingston, Lynn
Long, Edward
Louthen, Nancy
Lozada, Daniel
Lumbley, David
Lumbley, Ryan
Machado, Richard
Madewell, James
Malloy, Neil
Maniatis, Nick
Marrero, Miguel
Mattingly, Eric
McGuire, Leslie
McKendrick, Kelly
Metcalf, Terri
Miles, Robert
Miller, Jason
Moore, Marcia
Morales, Aaron
Morales, Lino
Morris, Cart
Munson, Darin
Munyoro, Martin
Murphy, David
Murray, Bruce
Myers, Richard
Nagy, Paul
Nava, Dianne
Nichols, Julie
Nixon, Gary
Novoa, Ricardo
Oommen, Stephen
Ota/Harvey, Akemi
Ovalle, Jesse
Owens, Arthur
Page, Teresa
Parker, Linda
Parra, Jorge
Patel, Manish
Paterson, Colin
Patman, Justin
Pauley-Barker, James
Perchan, Steven
Piper, Nathaniel
Pitala, Craig
Pitt, D. Blake
Pope, Rick
Portugal, Jose Antonio
Puckett, Judy
Quattrone, Jenn
Quintana, Louis
Ramsey, Paul
Ramtahal, Michelle
Read, Dan
Read, Robert
Rector, Jerad
Reeves, Robert
Relander, Brett
Reynolds, Ryan
Riley, Randall
Ritter, Barbara Ann
Rivera, Lynn
Roberts, Stephen
Robinson, Abraham
Robinson, Keith
Rodriguez, Joe
Rubio, Zoila
Said, Ribar
Sanchez, Oscar
Saylor, Carol
Saylor, Steve
Schiller, Robert
Shah, Meenaxi
Shan, Param
Shepard, Mark
Singleterry, Angela
Smith, Anthony
Smith, Cathy
Smith, Jacquelyn
Smith, Jami
Smith, Sidney
Staples, Susan
Steptoe, Richard
Stone, Duke
Su, Jimmy
Swanson, Lisa L
Sweat, Cindy
Sweeten, Tiffany
Tamayo, Gustavo
Tassin, Bill
Thompson, Brad
Thompson, Ryan
Trachta, Travis
Truax, David
Truax, Lesa
Tucker, Otis
Turner, Mary Ann
Valenzuela, Paul
Waclawczyk, Chad
Walker, Matthew
Wallace, Shurlene
Warren, Brian
Wasmund, Melinda
Wasmund, Robert
Wauchope, Elaine
White, Brendan
White, Richard
Wiechecki, David
Williams, Lamarris
Wilson, Jonathan
Yandell, Roger
Young, Charles
Zarate, Paul
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12 comments:
Thanks for your info. I agree all that they are doing is MLM. If people really want to screw others without doing the $300/mo or the $16K, for $75.00 you can sign up to refer others and "get paid" via debit card. My "mentor showed me a debit statement totoalling $445K - and he is paying others to refer good folks like myself to listen to their crap.
As a preface, I joined Nouveau Riche University by purchasing the “Regent’s” package, I went to the "college", I tried to recruit, I have analyzed the Investor's Concierge deals, I went to the briefings, I have heard the likes of Piccolo, Snyder, Cheri Tree, Kecia and all the other NRU hacks speak, and I’ve met and talked to many NRU "students". So please don't tell me I don't know what I'm talking about. Here is my assessment of NRU. I have tried my best to be fair. For those of you familiar with NRU, this outline follows the “EPIC” presentation some of you may have been subject to.
The Company
1. Piccolo and Bob "the General" Snyder, the founders of NRU, have MARKETING backgrounds. Look it up. They have no prior experience with real estate investing before NRU.
2. As a consequence of Number 1, NRU is primarily a MARKETING business. You can call it whatever you want, direct marketing, MLM, a pyramid scheme, a ponzi scheme, there may not be a perfect term, but it contains aspects of all of these concepts.
3. Real estate investing and education is an ancillary part of NRU. It is the "product" that they sell, but it might as well be long-distance phone plans, an internet web-based business, vitamins or make-up.
4. NRU's success is a direct product of the real estate mania this country has experienced over the past 7 years, not anything inherently great about the company’s products or services.
The “Education”
5. For $16,000, you really don’t get very much. You receive a certain number of “college” credits that expire after two years, but the catch is that you have to fly to Arizona to use them and you can only do that four times a year for a one-week period each time. There is an on-line option, but it is sub-par for a variety of reasons.
6. The courses are amateur hour and taught in seminar-fashion. They may dazzle people who don’t have a college degree, but will offer little to those who are generally versed in basic real estate and financial concepts. The educational materials are photocopied, hand-bound booklets, sometimes just an outline of the power point presentation. The instructors appear to be knowledgeable in their field, but they are mainly interested in consulting fees and fees for other services that they offer to NRU members (not altruism as many NRU shills would like you to believe).
7. NRU does not “teach” you anything you can’t learn by spending a few dollars on Amazon.com. There are no secret tips to learn that haven’t been published in the hundreds of real estate books you can buy on your own.
8. The “education” is primarily a vehicle for the direct marketing aspect of NRU, just as Investor’s Concierge is there to give members credibility when they market the course. The Concierge, however, is also another mechanism by which NRU extracts additional money from its students. More on this later.
Real Estate as an Investment Class
9. In marketing the tuition, a great deal of emphasis is placed on how real estate can make you rich. There is little or no information on how risky investing in real estate can be. At the “briefings” (the 2-hour presentation designed to lure new members), the presenter will talk a lot about how great real estate is because of the availability of leverage and certain tax benefits. At several briefings I went to, the presenter would literally make the representation that real estate prices only go up. Finally, the presenter will talk about how terrible it is to work for a corporation and how useless a college education is (ala Robert Kiyosaki). This usually manifests itself in the form of derisive acronyms, such as JOB, which stands for “Just Over Broke”, or how only NRU can give you an MBA that’s worth anything, a “Massive Bank Account” (crowd usually goes wild here).
10. NRU never mentions the special risks inherent in residential real estate investing, such as problem tenants, financing and interest rate risk, structural and environmental risks associated with housing, the cost of maintenance, the prospect of asset depreciation or declining rents, and the risk of litigation including from eviction and foreclosure. Bottom line, investing in residential real estate is very risky and comes with a host of hazards you would not find in other asset classes. NRU discounts all of this and presents real estate as a perpetual money tree.
11. We will likely never experience again in our lifetimes the type of appreciation in residential real estate that we have seen these past few years. There are several reasons that this is very likely to be the case: reversion to the mean, unsustainable public/private debt burdens, massive transfer of wealth to developing nations, slowing economic growth, an aging population, greater regulation in the financial sector, etc.
12. Historically, residential real estate prices have appreciated at the rate of inflation.
13. Real estate, like any other asset class, carries risks that are commensurate with the returns you are likely to generate. For example, leverage is great in good times, but people are quickly learning how easy it is for your equity to get wiped out a result of relatively small declines in home prices.
14. Investor Concierge deals are generally market-rate deals, but they are advertised to NRU students as amazing deals that generate positive cash flow. There are other sites that break this down, but generally speaking, the appraisals are usually 2-3 pages long and contain nothing more than a broker's opinion of value, the financing is almost always interest only or neg-am, the rents are inflated, and the only way you get "positive cash flow" is if you include certain seller incentives like pre-paid HOA or guaranteed rent, most of which will expire within 2 years. Additionally, maintenance and vacancy will almost immediately eliminate the $100 or so of positive cash-flow a month you may get. NRU members hate talking about the details of the Investor Concierge deals.
15. Typically, there are only 15-20 available properties on the Concierge at any given time, so the pickins’ are slim. NRU encourages you to “reserve” a property you like as soon as you see it online because it could get snatched up by someone else unless you do. The NON-REFUNDABLE fee for reserving a property is $350.
16. Investor Concierge deals are mainly located in historically depressed or undeveloped, sub-urban or rural real estate markets, you will generally not find properties on the system in established, urban markets. These properties are likely to experience declines in this current bear market and will not likely appreciate much at all when the economy recovers.
17. Anyone who has purchased a deal off of Investor’s Concierge over the last two years has either lost all of their equity and/or is underwater. This is a terrifying prospect for many people in NRU because at the briefings, many of them go up to the front and brag about how they have bought 5, 10, 15 or even 20 properties over the past few months. Many of these people are going to have to walk away from their homes in the coming years, which will destroy their credit and eat up any ponzi money they made from the marketing. Anyone even thinking about joining NRU should be asking the ISAs for a detailed breakdown of their current real estate portfolios.
The Marketing
18. The real estate investing component of NRU is used mainly to support the primary business of the company which is selling tuition packages. For an additional $75, you can become an Independent Student Advisor (“ISA”) and can go out and sell the tuition packages on behalf of NRU. There are three options which cost different amounts, but most people are pressured to purchase the most expensive package, the “Regent’s” tuition together with the “Encyclopedia”, which total almost $20,000. There are certain commission and tuition-related perks you get for buying this package.
19. The commission system is what really drives NRU. NRU members receive a 50% commission for each tuition package they sell, so that can amount to nearly $10,000 a pop. Commissions are further leveraged by the requirement that each new person you sign up bring you two additional recruits before they can be “certified” and start collecting their 50% commission, with the commission for those first two recruits going to you (that’s almost an additional $20,000 on top of the $10,000 you already made from the first guy). Then, each of those two fresh recruits that were handed to you also need to bring you two new recruits before they can get “certified” (yes, that’s another $40,000 on top of the $20,000 on top of the $10,000). You see where this is going. Of course, before you can begin collecting any commissions at all, you need to bring YOUR ISA two fresh recruits and get “certified” as well. This “pyramiding” aspect of the commission structure makes it extremely lucrative IF YOU ARE GOOD AT SALES. This is hook that gets most people to fork over the money. If you get out a piece of paper, you will see how quickly you can get to $1 million. Also, the commission structure is subject to change by NRU AT ANY TIME.
20. But even the commission structure has a catch, one that NRU only recently started to be more upfront about. NRU used to present the commission system as requiring that you bring your ISA two fresh recruits before you begin collecting commissions for additional recruits yourself. But if you actually read the commission rules, you will find that you in fact, need to bring your ISA FOUR new recruits, NOT TWO. My ISA sold me NRU telling me I only had to bring him TWO, when in fact, the rules say you have bring him FOUR. His explanation to me AFTER I signed up was that he would “manually” certify me on the system after I bring him two recruits. Well, that’s fine for me, but how the hell was I supposed to sell this thing to others? I could not guarantee that they would all get “manually” certified after two sales because that’s not how the commission rules work. My partner was furious about this, but this is the type of thing that happens when you incentivize people to aggressively market any product. There are other hidden rules as well, one that pretty much requires that you have to keep selling indefinitely to keep the stream of money flowing. Anyone even thinking about signing up should ask to see a copy of the rules on paper before you do anything and read it very, very carefully, because it is confusing.
21. Most people are unsuccessful at selling tuition packages. It’s akin to trying to sell a used car, except you would probably get more value from a junker than the “education” that NRU offers. Most people are simply not good as selling used cars and most people wouldn’t feel good about it either. The problem is that the “education” and other ancillary services are simply not worth $20,000 and it’s obvious why: most of that needs to go subsidize the commission system, which is needed to lubricate the entire NRU machinery. So unless you’re committed to selling and you’re good at it, you’re likely to be very disappointed.
22. The commission system places a lot of pressure on NRU members to sell, sell, sell. This is how all the top “producers” have made most of their money. This also creates a massive conflict of interest. More on this later.
23. The direct marketing aspect of NRU preys on the greed and naiveté of all sorts of people, but mainly lower-middle class individuals, young people just starting out, and real estate agents/brokers, many of whom don’t have a lot of education and work crappy jobs that they aren’t happy with.
24. NRU is tied in with the likes of Robert Kiyosaki and “The Secret”. I’m not going to bore you with the analysis, but try Google and you will find plenty of critiques.
Conflicts of Interest
25. NRU generates tremendous income directly from its students. They make money not only from the tuition, but also from marketing materials and services, credit services, mortgage brokerage services, accounting and legal services, special seminars, Investor Concierge transactions, all of which cost extra, and they’re not cheap. You also have to pay for lodging and the plane ticket to get to the college. All of the NRU instructors also offer consulting deals and other professional services, which also cost extra. The $16,000 for the Regent’s tuition only buys you “college” credits, you get NOTHING ELSE. You even have to buy the forms and brochures you need to sign up people for NRU. I take that back, you do get a tote bag, but it looks ridiculous.
26. NRU members are supposed to be “mentors” to the new members who they sign up, but what they really want from you is for you to sell the tuition to others, because they will the commission for the first few sales you make. There is a huge conflict of interest here because there is a big incentive for NRU members to sell the tuition, irrespective of the quality of the product or the unique situation of people to whom they are marketing.
27. NRU encourages you to sell to friends and family, which destroys relationships when people are dissatisfied or feel cheated, which is often the case.
28. The most distasteful defense of NRU to me is that “it’s not for everyone, but it worked for me”. It may be that there are some people who are successful and make lots of money in NRU, but the system cannot support a situation where most of the people in NRU make tons of money. This is the inherent, mathematical limitations of these types of marketing structures. I’m sure someone smarter than me can prove this. Likewise, the real estate market cannot support most people in NRU making money in residential real estate investing. Case in point is the short sale strategy, which NRU shills tout as the way to make money in a down market. Well, there is so much competition in short sales right now, and even more with each “college”, that short sale investors are bidding up pre-foreclosures pretty much to market. These two fundamental concepts virtually guaranty that only a small minority of NRU members will make any money either from the marketing or the real estate investing, and REQUIRE everyone else to fail in order for the system to sustain itself. This is the biggest conflict of interest of them all and lends to NRU’s reputation as a “scam”.
Conclusion
NRU is a marketing business that encourages and monetarily incentivizes its members to use high-pressure sales tactics to sell a very expensive real estate “education” package with questionable value to unsophisticated people with the lure of quick money and unlimited riches in real estate. Success in NRU is highly dependent on (1) a booming real estate market and/or (2) a unique talent in sales and marketing. What makes NRU so insidious is that it plays on the fear and greed of ordinary people, often friends and family, most of whom will go bankrupt by following NRU investment strategies during a severe and sustained real estate down turn such as the one we are experiencing now, and most of whom will fail in selling the tuition package because they lack the sales and marketing expertise which is further exacerbated by a declining real estate market. Taken as whole, NRU may be perfectly legal, but many people will feel like they were cheated out of thousands of dollars by someone they trusted. If after reading this, you are still interested then by all means sign up. But just be prepared to live with it if at some point you find yourself either financially bankrupt, morally bankrupt, or even worse, both.
Epilogue
Finally, you’re not going to see a whole lot of posts like this from people who have joined NRU. Most are very disillusioned at the loss of thousands of dollars and don’t even want to give it another thought. The rest are out searching for marks. I can only hope that NRU won’t survive this bear market in housing, and if this post can hasten its demise, so much the better. I don’t blame the person who signed me up, he incidentally has had to find a full-time job now since NRU is apparently not doing it for him. I walked into this with my eyes wide open, which shows you how greed can overcome any good judgment you may think you have. But I am thankful that I didn’t end up dragging anyone else into this apart from a good friend as my partner in this scheme, but with whom, as a result of NRU, am no longer on speaking terms. So for all of you NRU shills out there who still think you are doing God’s work, why don’t you try calling each and every person you have signed up and ask them exactly what they think about NRU. I think you will find that my experience is not so unique. If you can keep on selling after that, well then, good luck to you.
Congrats DEAN, Way to give up on yourself and your investment!
The fact is 76% of people that buy the “Regents Tuition" and attend the college obtain proporties.
96.2% of the people that decide to do the marketing side of NR and reach certification make the $20k back that they invested in the first place.
Dean obviously did not reach certification before he gave up on himself and his investment
numbers don't lie!
Adam, you are scum and I have nothing by contempt for you. Statistics are great, but let's pay a little more attention to what they're not saying shall we? Watch while I destroy your post:
First of all, the fact that 76% of NRU members who buy the Regent's package and attend the "College" purchase real estate is not something to brag about. In fact, it's part of the scam. I am very certain that in the next year or two, there will be hundreds if not thousands of people in NRU who will have to declare bankruptcy to get out of just the Investor's Concierge deals not to mention whatever other stupid deals they have done apart from that. Nearly all the homes bought using the Investor's Concierge system in 2006, 2007 and possibly earlier are underwater now. On top of that, the incentives run out after about 2 years, so most of them will also be in negative cash flow territory as well. With rising gas and food prices, it will only be a matter of time before people have to bail out en mass from these really bad deals. There's no one to help these people out either, as the general consensus is that investors and speculators should not participate in any bail-out plan.
What is most sickening is that through this all, NRU has made millions of dollars in reservation fees, broker commissions, loan fees, and what ever other kick backs they get from putting the deal on the site for the seller, and they've made all this money from their own members, risk free! See the conflict of interest section of my post above for more on that.
On to your second "statistic", you say that 96% of NRU members who decide to market and get "certified" make their money back. Well, let's not even talk about the ethics of selling the tuition, I've already made my point above. But your 96% is totally meaningless. All you are saying is that 96% of the people who are able to sign up two people (this is what is meant to get certified) are able to sign up two more. What you're saying is that those with some success with the marketing will likely make their money back. What you're not saying is HOW MANY PEOPLE HAVE ANY SUCCESS AT ALL WITH THE MARKETING. I want to know how many NRU members there are and how many are certified as of today. This is certainly a statistic that NRU has on hand, but one I doubt they will ever give you. I am certain the number of NRU members who are certified in proportion to the number of total members is stunningly low. Adam, why don't find out exactly what that number is and let us know?
What else do you have for me Adam?
Dean!
We understand that your pissed off! But who is really to blame for your lack of success. YOU! no one else but You!
So quit being and ASS!
Nate:
I take responsibility for getting scammed by NRU. This is why I'm posting about it everywhere I can. If you think there is something wrong with my post, you are free to point out exactly what those problems are. If the problem you are having is that your potential marks are actually reading my posts and thinking twice about joining your little ponzi scheme, well, that's exactly my goal. Good luck in hell buddy!
Dean,
Keep posting. The more you upset these people the more your helping potential victims see them for who they really are, thieves!
You are providing a valuable public service by sharing your insider perspective of this scam.
Sincerely,
Proceed with Caution.
Dean,
I share your sentiments... I was very reluctant to sign up when approached about NRU and have not sold or purchased ANYTHING from Nouveau Riche to date.
Still, it's amazing - my name somehow ends up on your "list." I think I understand your frustration, but you need to get your damn facts straight before you spread slander and false information about people you've never had contact with.
I was signed up by someone over 3 years ago and never took any active interest. I repeat: I've never purchased nor sold anything from Nouveau Riche. Yet I google my name and find your inaccurate trash... remove that list or get your facts straight!
You will be hearing more about this, I promise you that.
Full response to "Dean."
Dean's post is full of misinformation and an obvious bias that he makes no attempt to hide.
It truly sounds as though he gathered as much free-floating information as he could so that he might make it sound as though he has first-hand experience. The attempt is to give the nonsense that follows some sort of credence.
I will begin a full response to his post, responding to each one of the numbers individually...however, blogger.com will now only allow 4,096 characters per post.
I will post as much as I can here, but for the full response you may visit http://tinyurl.com/q4sq7p
(if you wish to view a preview of the link and the full URL it can be seen on tinyurl.com at http://preview.tinyurl.com/q4sq7p)
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The Company
1. Piccolo and Bob 'the General' Snyder, the founders of NRU, have MARKETING backgrounds. Look it up. They have no prior experience with real estate investing before NRU.
--Even if this IS true, a) I don’t know how anyone could possibly “look up” what sort of personal experience any individual has with something as broad as real estate investing…Can you tell me where one might find this information? Perhaps it would be more readily available for a more well-known businessman. Exactly what experience does Bill Gates have with RE investing? How about Rupert Murdoch? Where is this information published?
b) Is it possible that that is a reason neither one of them teaches a single class? Neither individual is listed anywhere as an instructor of any specific course in the course catalogue.
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2. As a consequence of Number 1, NRU is primarily a MARKETING business. You can call it whatever you want, direct marketing, MLM, a pyramid scheme, a ponzi scheme, there may not be a perfect term, but it contains aspects of all of these concepts.
--Great comment. Spoken like a true lawyer. With that last sentence fragment you get to say almost anything you want before it, and by the end of the statement alleviate yourself from all claims of libel or falsities. You could say the very same thing about almost any business. Depending on how far you’re willing to stretch your claims, you could even say nonprofit organizations "contain aspects" of direct marketing, MLM, a pyramid scheme and a Ponzi scheme...The truth is, Nouveau Riche, like MOST other business is not any of those, other than maybe direct-to-consumer marketing.
First of all, there is nothing wrong, immoral or illegal about multi-level marketing businesses. That acronym "MLM" is thrown around as if it were a terrible thing. Multi-level marketing is a perfectly legitimate business model. But even still, Nouveau Riche is not a multi-level marketing business. Multi-level marketing businesses DO function by enrolling unsalaried salespeople (also called
Adam and everyone,
I spent time with the comapny for many YEARS, the statistice of who does anything and gets returns are low, very low, due to lack of effort and pie in the sky thinking. The education is, in my opinion the best, but it has hurt many many people. Most now are broke, in foreclosure, and suffering to make ends meet. Even the top teir of leaders. Incentive programs are now in place to "save " the leaders as the majority get sucked in to believe RE is easy...not easy, very hard. Can be worth it, but most lack the persisitence and committment to reallly go do it. FYI
Thanks Dean. I really appreciate your post. My brother was turned on to NRU by an instructor at his school (a letter to the Dean is next on my agenda). He is one of his instructor's two "fresh new recruits" and my family and I are enraged. I wanted to pull my hair out when I watched and listened to my intelligent brother regurgitate marketing speak and defend his new "friends" and company. He has until Saturday to back out and I'm doing what I can to change his mind. I've already tried reason and logic, but it does no good. Yelling didn't work either, but I guess I shouldn't be surprised. Unfortunately at this point, he won't listen to me anymore. My parents also can't seem to get through to him. I've been doing a lot of research online and feel that your post was one of the most comprehensive and helpful. I know this is a stretch, but would you be willing to reach out to him? If so, please comment and I'll follow-up with an email address that I created today specifically for this reason. If not, any words of advice would be welcomed.
- From a sister who refuses to let her brother become a NRU lemming
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