Mike S.
Tampa, FLMember since October 2019

Reviews (1)

    • Oct 8, 2019
    • Verified Reviewer

    Nick Vertucci Real Estate Academy

    Dangerous and damaging - would never recommend

    Overall Experience:

    I attended several NVREA seminars between June and July of 2018 and this was my experience:

    The initial seminar is free and fairly void of anything notable or valuable. Most of the time is spent telling the customers the next seminar will teach them about "learning to flip houses with no money."

    Upon spending $1,000 to attend the next seminar, I learned that you can wholesale contracts to investors, and learned a few tricks to make a house more attractive like using cheap carpet but high-quality padding to make the floor feel nicer. This seminar was more of a list of possibilities than an explanation of how to flip property.

    The second half of this seminar was a sales pitch for a 3-day seminar. The seminar leader says attending this next seminar will give you access to their exclusive network of investors.

    The cost of attending the seminar and getting access to the network of investors was $30,000. Since we couldn't fund the seminar in cash the trainers recommend a 0% interest finance that you can pay off seminar leaders after your first deal. It was only later we realized that this was unrealistic advice given the length of the loan and average time it takes to rehab and sell a house. While the trainers were happy to talk about the 0% financing products they recommended, they neglected to mention the thousands in fees that we would be paying before the interest kicked in.

    Once I attended the 3-day training seminar I learned about renovation on a small and large scale from the average cost of a towel bar to pouring concrete for a driveway. Between sessions, we went on buses to a few properties with a clipboard to evaluate two to three trainer selected properties each day.

    I learned the "exclusive network of investors" described in the one-day seminar is just other people who have attended the three-day seminar. Attorneys teach how to put agreements together with the other attendees as well as how to protect against specific liabilities and how to handle taxes.

    Many attendees were feeling overwhelmed, and they offered more personal attention through field training with one of the seminar leaders. Field training would consist of one of these trainers In this setting the trainer walking you through making phone calls to contractors, hard money lenders, as well as meeting realtors to see potential properties for an additional $25,000. While many wanted the extra attention, few had the funds to pay. The trainers suggested using retirement funds to finance the field training. One of the trainers named Stacy said, "you can't get into a franchise for less than $100,000 what are you worried about this?" I was completely floored. For the company and it's representatives to recommend short term, high-interest financing, and tremendously risky uses of retirement money is completely negligent and in bad faith.

    During the $1000 seminar, the trainers repeatedly said, "the Nick Vertucci system emphasizes safety." But their actions show otherwise. I cringe at the thought of the people who trusted this system with their life savings and ended up in worse positions than before they ever heard of Nick Vertucci. I've been in contact with people from my three day seminar to see if my experience was unique. Unfortunately, they are also in a worse financial position than when they started.

    I would not recommend this course to anyone. Nick said on stage that he would refund the cost of the courses to those unsatisfied. I hope he makes good on his promise, but I doubt it given my experience.

    Bottom Line: No, I would not recommend this to a friend

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