So today I went to a local Real Estate Investment Club meeting. This meeting was different than the local REIA meeting - the same folks running both but the Club is more informal and is geared towards networking, while the REIA meeting is more formal and organized like a trade association.
Anyway - I met my first Nouveau Riche believer… a kid full of energy. He told me he is in the notes business - buying and selling brokerage notes… I thought it was interesting that he says he is in the notes business but his card states he is an Independent Training Associate with Nouveau Riche… :O)
I don’t know much about them, but based on what I read here I believe they are kind of a multi level marketing organization… Am I right?
Yes, you’re right - they are a MLM scheme intent on selling their $16,000 training. The funny thing is that almost none of them seem to be involved in real estate - they are always selling their training for the commission. RUN!
OK, for the record I’m a NR student. Yes, we market. No, we’re not multilevel marketing - nor are we a “scheme.”
Because students are given the ability to market the school that’s considered network marketing, NOT multi-level - there is a difference. the referral program is completely optional to the students. it’s not a necessary component like in a traditional MLM like Monavie, Amway, Mary-Kay, etc.
the NR folks that are at the clubs doing marketing and the ones that you typically run into who are pitching you very often aren’t doing much real estate… they’re marketing. there’s good money in it and unfortunately good money attracts bad salespeople.
the education itself is very good, the instructors are very knowledgeable, and for the price, 16k for two full years of education (live college 6 times a year for 6 days at a time, online streaming video and audio, conference calls and a very large community if you choose to plug in) it’s a very good deal. Five grand gets you three days at trump U. do your research. personally, i’m now a wholesaler… a successful one at that… and 100% of my education came through the school and the NR community.
unfortunately the NR students who are using their education, and there are a lot of them, you won’t typically find at clubs or be approached by, they’re busy doing real estate. the “good ones” do market, but in very different ways… by talking about their experience, not going after you at a club.
sorry to get all RA-RA but i’m just a little tired of the NR bashing. it’s a “system” if you will, but a pretty good one when examined – true it’s not for everyone, but it definitely isn’t without merit.
duplex - I understand what you are saying and I believe that you are probably right… I don’t believe all Novueau Riche students are bad or trying to scheme people… I guess they get a bad rap because of few bad apples…
However if it was my business I would do whatever I could to prevent those bad apples from damaging my brand. What bothers me is that the Company doesn’t seem to care - as long as those bad apples are bringing new business they are fine…
I don’t know much about the program. However based on the little I know and what I experienced last night, I don’t have a good opinion about it.
yup, yours is a common story. new marketers (there is training for people who want to market) are encouraged to go to investment clubs and networking events and just meet people. typically those are the new guys, so chances are you got a taste of ignorance.
and you’re right, you’d think they’d care. unfortunately, any new student can market, so there’s no way to stop someone from going out and trying.
there’s really only one way to success in real estate and that’s education coupled with hard work. NR doesn’t paint a “get rich quick” attitude, but the marketers sure can make a lot of money. it’s not long before NR students see it like this:
“hey this education really works, i can make a ton of money selling the education and then putting that money back into real estate.”
from the inside that’s a very logical and attractive model. from the outside it very often looks like:
“come to my school… i don’t care if you do anything in real estate, i’m just trying to sell you and score a commission.”
sometimes that’s true… sometimes it’s not. keep in mind that a lot of the NR folks that are doing the RE are not natural sales people… they may just be trying it out. if you’ve ever tried sales let me be the first to tell you… it’s not easy. you may be experiencing a newbie on both levels, too… new to sales AND real estate. double threat :biggrin
my bottom line on all of this is that the education is very good. yes it can cost up to 21k, and from the vast amount of time i’ve spent reading this forum (i’m a lurker), people agree that you can succeed without paying for classes or seminars. they’re right… you can… and no amount of money spent or education ingested makes you an investor if you’re not out actually trying to do it. BUT if you’re a person that is going to go out and spend money on your education … dollar for dollar NR is the best i’ve seen.
The hotel where my club meets also hosts the NR on the same night. You can tell their cars b/c they have in large letters all over the windows: “Real estate apprentice wanted, make $12k/month” or something similar. I get what you’re saying, but it just wreaks of BS. :deal
Hey… I was trying to figure out why you were referring to 2 guys/wingman… And the only one I saw posting good things about NR was duplex…
And then it just dawned on me… Are you referring to me? Do you really think I had a secret agenda when I opened this thread?
Uau… one side of me is feeling really good because I never had a wingman… :O) But the other side is a little bit disappointed that you would think I had a secret agenda… :O(
You couldn’t be farther from the truth… I was just sharing my first experience meeting a Nouveau Riche associate… I read about them here but never met one of them (until this week).
I would never pay thousands of dollars to learn something that I can learn for free. So I guess I am not a good target for them… :O)
I see the “Real estate apprentice wanted” signs all the time. (Almost as if there in this wanna be spinoff from the show apprentice with Donald Trump) Not “I buy houses”. I heard a presentation from someone who claims to be a gazillionaire, and she was talking about never having to use your own money for the deals you do, then in the next breath she says to get a few people to “college” so you can use that money to invest. What!?
And not that is should matter, but the apprentice signs are always on like old rusted out vehicles, or really dirty. At least wash your car.
I think that does matter. I’m not saying you should letter up a Ferrari or anything, but if your driving a piece of crap car with that in the window… I’m not following that.
It reminds of me a local guy here in Indiana that is offering mentor classes and at the same time has about 20 houses in foreclosure and will probably end up filing bankruptcy. EH EH. Sorry. LOL.
