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Nick Vertucci Companies, Paper Flipping is a Flop/Scam/Fraud

Nothing but another scam to make the man who started it rich, not you. My wife and I attended a seminar for Nick Vertucci companies where we were introduced to paper flipping. It was a term they used to get us to give them our money so that we could get it back, plus more. Basically, an easy way to get rich. We were interested and curious. It was a luring presentation, so we paid nearly $2,000 to go to their three-day seminar.
Throughout this time they told us about the special tools and resources that differentiate them and would help us out most. We did not really learn anything new or special, apart from what we can read in a book or online. They also offered access to more funding.
We were all in because of that fact, until they tried to get us to sign up for a required bus tour to start the process. I don’t think any of that was even used to be invested. It was a ridiculous amount of money. We quickly realized that this money was going to other people who were already in the program. They were convincing people to completely roll over their 401k’s! We only had so much to offer.
We are lucky that we only lost the money that we did at the three-day seminar because another couple that we met went all in and they recently told us that they had not made any of their money back, in fact, they are being asked to invest more.

Comments 6
  1. Folks, all these real estate seminars are the same whether it’s Scott Yancey, Fortune Flips, Don Lapre, Cameron Dunlap, etc. They are nothing but frauds!!! I came in with a open mind hoping NVREA would be different but they all the same…SCAMS!!! those that can’t afford to financially pay for the $30-$40k Bus Tour they will try to talk you into using a company called SEED CAPITAL. I was lied too, they said seed capital is a direct lender when in reality they are a credit card shopping company. They want your credit score to see how much money they can get for you in credit cards with a 12-18 months 0% interest rate. They will say based off your credit score you qualify for this much, so on. If seed capital is able to get you that amount with these credit cards, you have to pay seed capital $3,495 while the amount you qualify for pays the bus tour directly goes to NVREA. Keep in mind, when seed capital is credit card shopping for you all these credit companies is doing a hard pull when they do a credit check. It lowers your credit score to poor rating. I went from good to poor credit status now, nearly 200 points dropped. The NVREA presenters at the 3 day WILL NEVER MENTION THIS!!! After listening to all the blah-blah-blah at the 3 day, who really has the time to read the seed capital contract. All you want to do at that time is go have dinner and go home. They do this cause they know the average person like me who knows nothing about this will not read it and just sign whatever cause they know they have your trust in them. It’s all planned out and a deception!!! Also to mention, you need to have some sort of funding mechanism in place to have your rehab properties financed. They work with a HML (Hard Money Lender) called IMC money. Read it on their website, you have to have at least 680 credit score for them to even work with you. With seed capital pulling down your credit score to poor status, it’s nearly impossible to get funding from them. The people who are successful at this flipping business, are people who have some type of financial backing themselves. (This is also what NVREA doesn’t tell you) Don’t believe this bull they tell you that you can do this business with no money out of pocket. It can be done, but your chances at success at this is slim to none. Nick Vertucci the man himself, doesn’t even know the success rate of those people who bought into his program. My estimate is probably 5% if even that. I do believe you can make money off flipping, I had a couple friends and family member flip. But like the ole saying goes, it takes money to make money and if you don’t have finance backing it will be extremely hard to make money in this business. Anyhow, I will write this off as a loss but remember this quote about life. There are alot of scams going on out there, if it sounds too good to be true it most likely is!!!!

    1. Yes, I fell for it as well, and met some of the nicest people while on the bus tour who were taken as well. One young lady was in tears after she found out that after her already large investment, they wanted even more money for individual coaching, which was what everybody thought we would be getting for $30000! They should be ashamed of themselves, but they aren’t.

  2. Thanks for your detailed complaint. I was thinking of going to the seminar and after reading your response, no way. I am retired and was basically just looking for some ideas to run with. I also am a licensed Private Investigator and would do a comprehensive background check on him. You saved me the time and expense.
    Again good luck in your endeavors and thanks for your input.

  3. Yes this is big scam they want you to scam the person who is saying they house by telling them you going to perches they house will you try get a baller and if you don’t find one the is on hold for 30 days and sellers is loosing money I don’t think this is right wend someone is selling they house to move . Scam scam and they and the watch is a scam too they don’t send you no watch don’t waist your time .

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