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New Reviewer

Payed way more then i wanted

was suppost 2 only pay $500 but wound up paying $997.95. by the time i checked my bk account months later , damage was already done. i waited 4 the seminar 2 return , witch never happened !!!!!!!!!!!!!! my health Shrugdoesn't allow me 2 travel far. Contract date 02/08/2013. called the number they gave me , never returned my calls!!!!!!!!!!!!!!!!!!!!!

User's recommendation: do not believe in the hype.

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ID
#1819399 Review #1819399 is a subjective opinion of poster.
Product
The Flipping Formula Course
Pros
  • Peter souhleris
Cons
  • No course
Loss
$998
Preferred solution
Full refund
New Reviewer

My worst financial decision I ever made !!

My wife and I attended a free seminar about 2 years ago. They told us that It was about $2000 to go too next level an 3 day seminar and there was a money back guarantee ( but you have to do a lot of things perfectly to even claim it ) and that they would give us finance up to 500,000 to do our first deals with. We just have to go to next level and it would be provided for us so no worries !! So we went to the Vagas and spent all our money and maxed out our credit cards for the big final package! ($45,000) Where they told us that they would give us the info on the $500,000 loans ! They told us they would be helping us with finances on our projects up to $500,000 every one that we wanted to do. ( THEY LIED) they have some different finance companies to sit down with and check your credit and everything and they already know they maxed out all our cards and everything else so of course our credit isn’t 720 after all that So no loans and no help you stuck with alot of debt and you on on your own with a quick education !! I am very very unhappy with the whole process and with the No help that they promised us over and over with the finance! So we have been working 12-15 hrs days and some weekends trying to. Keep up with the bills and try to work and trying to rebuild a house we are living in! And having to live threw a rebuild is very hard ! We are trying out best to make a go at it there is know one trying harder to make it work than us and we have no help from the Flipping Formula!! In fact they took all the finance we needed to do a rebuild! I need them to reimburse us for all of my credit card debt that they put us in so at less I don’t have to struggle just so we don’t lose everything we have !!
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ID
#1338863 Review #1338863 is a subjective opinion of poster.
Product
The Flipping Formula Course

Class Action Suite Needed to stop these Trump University schemes!

Attended a year ago. A total scam based on fear, intimidation and manipulation. They put you through two days of seminar with very little helpful information. During that time they sell you on trying to increase your credit card balance on day, so on day two you can max out your cards going in debt to go to real estate Mecca in Las Vegas for a weekend. They set you up with a one to one manipulation session to try to squeeze you into coughing up 10-40K in order to be in some BS club. If I could charge them for two days of my wasted time, I would of. Called after the conference and demanded my money back. They tried to get me to settle on half. I refused, and they finally relinquished and refunded my money for two day seminar. I had to pay for travel time to conference for two days. They furnished no food. Had to pay to send *** three ring notebook back and the worse was the psychological abuse by the entire encounter. Run from this! Don't waste your time and money. A complete bait and switch show. Needs attorney general to shut this down and law offices to start class action suit against these swindlers.
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3 comments
#1849482

I agree totally. The premise of the initial seminar which was free was to "teach" you how to flip homes and how to get investors no matter how much funds you have available.

That was the clincher. It took me almost two years before I was able to attend to the seminar which I purchased for almost 1000.000 I received numerous reminders to attend seminars either in NY or other locations. Of course I was not going to incur any out of pocket expenses going to any other locations other than New York. Finally a seminar became available which I was able to attend locally and I did.

The seminar didn't offer any free meals. The motivational instructors sole purpose was to motivate you to buy their sales pitch which was to invest more than 40K to become a flipper. The seminar was not real seminar because they did not use any of the materials which I purchased initially as a point of reference. There were 4-5 men there and all they discuss was how to use your credit cards to invest.

Their sole purpose was to determine who there could afford in the immediate to invest in their scheme in the immediate. I was not a viable investor so after day one they lost total interest in me and it was obvious in the way they treated day 2.

I didn't return day three because it was pointless. I would love to get my money back.

#1386548

Confused on who they r talking about ! I payed 4 course but , they would let me know when it would b back near my town , it's been since 2/8/2013 I haven't heard from them !!!!!!!!!!!!!!!!!!!!!!!

#1628597
@PissedConsumer1386548

filling a house find one in your budget.banks will loan you.wait flip again for close to double then the banks will loan you get a free home.formula I am not sure if banks are paying 2000 for a stable quality home.to get it off their hands.or hub is giving away cheaper priced homes to the average

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ID
#1046277 Review #1046277 is a subjective opinion of poster.
Product
The Flipping Formula Seminar
Reason of review
Bad quality

The Flipping Formula - Customer Care Review

They over promised and under delivered. Promise to be able to purchase property without your own money, but immediately requested we open credit cards, which in turn was used to pay for all the up selling. Not being one to have credit debt, though it may seem ignorant now but didn't realize the more we charge the higher our monthly payments. So we went from excellent credit to not being to pay all of our bills along with the ccard payments. This also disqualified us from their promise of corporate credit, although it was the program that put us in this situation. Still we have not been able to recover with $50K of debt because the flipping formula was a flop. They promised to guide you but whenever you call the people who sold the bag of goods, you never hear back. Worse decision of my life, oh how I wish there were a lawsuit, I am not into suing but just want back to what I put in.
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ID
#1012441 Review #1012441 is a subjective opinion of poster.
Service
The Flipping Formula Customer Care
Reason of review
Problems with payment
New Reviewer

Everybody got it wrong, this is the real deal

I don't understand why people complain about the program. Las year I was part of the Inner Circle, and like any educational program, you have to pay, but it is worth it. Next week I will close my 5th deal. So far so good, it hasn't been easy, but Pete and Dave said this required a lot of commitment and work. Also, I have been using their online products for quite some time now and they are pretty handy. My mentor has been awesome. I think this is the real deal. The inner circle book, which has samples of all the important stuff we learned in the seminar is a great resource. All the Flipping Formula personnel are helpful and friendly. Real people, approachable, positive attitudes.
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ID
#996622 Review #996622 is a subjective opinion of poster.
Location
Peabody, Massachusetts
Product
The Flipping Formula Course
Pros
  • Peter souhleris
  • Michael anthony
Reason of review
Good quality

Flipped off by Flipping Formula

I attended an invite I received in the mail from the a real estate training program, The Flipping Formula. Upon arriving we were greeted cordially. The presentation was informative and presented well by Terry Granahan, and then midway through it became apparent the one day seminar was given to promote buying their 3 day $1,900 dollar workshop which they guaranteed would be bringing in a hefty income within the first few weeks. At the break I went to Terry to inquire, as it had been my purpose to do, about their possible interest in a property a very kind friend had entrusted to my networking capabilities to introduce to investors. (It is a very high-end, potential development property.) Terry told me to speak to Todd after all of the people lined up to purchase the 3 day workshop were finished. I approached Todd after his sign ups were complete. I told him of the property. Todd took a step back, eyed me in a scrutinizing manner and said, "Why would someone trust such a property to you? Are you a Real Estate Broker?" I replied I wasn't but I had successfully found a buyer for a smaller property in the past and my friend was kind enough to provide me the same opportunity now of which I was truly grateful. He said, "What's wrong with this man that he would think you were capable of finding a buyer for his property?!" I replied once again that I had successfully accomplished it previously. He asked with an arrogance that could have emptied the room of every enthusiastic trusting person who had just turned over a couple of thousand dollars to them, "What do you want from me?! I am a professional! You should leave!" Now my dander was raised. I replied, "I am a professional as well...a writer in fact. I have also successfully had the newspapers print my editorials. The Flipping Formula will be my next submission!" Terry came over hearing my statement in response to the outrageous way Todd was speaking and asked me to come with him so that we could talk. Our talk consisted of his attempts to distract my anger with compliments meant to diffuse my spite by comparing me to a character in a well-loved movie whose temperament was gentle and long-suffering. Terry began, "Do you know who you look like?" My husband jumped in falling for the psychology, "Audrey Hepburn!" I embarrassed corrected him, "Maybe 40 years ago." Terry came in for the big attempt, "Melanie in Gone With the Wind! You look and seem so much like her." I decided to pass on the embarrassment, "I would have preferred you compare me to Scarlett." Terry realized his compliment with its intended subliminal character alteration had just bombed! He went for a 2nd try... "Wait here I have something for you!" He returned seconds later holding a bag with 5 MP3 players, 4 more than the 1 promised for attending the day seminar. Oh, and he did apologize for Todd's behavior and said he would definitely address it. Having looked up later who this Todd was it is doubtful Terry will address him as it appears from what I can gather that Todd is probably Terry's boss. My advice... always approach those on the executive level from left field before handing over your money so that you can see their true colors!
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ID
#833051 Review #833051 is a subjective opinion of poster.
Location
Lynchburg, Virginia
Service
The Flipping Formula Customer Care
Cons
  • Todd
Reason of review
Poor customer service
Preferred solution
Clean up the ethics in the company
New Reviewer

Never delivered what we purchased

We were up-sold educational package events that do not work and rental properties that were supposedly "HUGELY discounted" and "provide net cash flows" that are neither. Experienced much of what is described by the Florida complainant and feel the same way about gaining Real Estate Investment information elsewhere. Flipping Formula promises to assist if you fail and leads you to believe you should close at least one deal within 10 - 25 offers, if you follow their formula. We have made over 200 offers in our local Oregon area using the Flipping Formula and have not been able to purchase a single property. The key is identifying properties prior to being listed on the MLS, which is nearly impossible, and the training does not tell you this. At the Advanced Training Investor's Summit in Las Vegas we were sold two rental properties, touted as "turn key, HUGELY discounted, with active leases, and positive cash flow". We just learned the current fair market value of these properties is actually less than half of what we paid for them, plus a balloon payment is due in October for more than what we could sell the properties for. We will therefore lose our entire initial cash investment of $62,000. Both properties were in need of much initial and continued ongoing repair to this day, and one of the tenants left one month after we closed in early 2014, and the second is being evicted now. Our attorney calls these properties "toxic assets". This is not what we expected. We have not made a dime, but have spent over $130,000 in training and lost revenue. Although the staff is courteous on the phone, and up to this point have been willing to assist us in repairing the properties at their expense, they refuse to remunerate us by purchasing these properties back from us or paying us lost rent, most likely because they always new they were selling toxic assets to unsuspecting desperate or uninformed buyers. Run, don't walk from this organization!
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ID
#674079 Review #674079 is a subjective opinion of poster.
Location
Salem, Oregon
Pros
  • Coaching staff
Cons
  • Sales mis-information
Reason of review
Not as described/ advertised
Preferred solution
Full refund
New Reviewer

Flipping Formula Real Estate Investment Scam

I have invested over $43,000 in Pete & Dave's Flipping Formula for real estate investing. Not one concept has aided me in my real estate investing. The claims to invest with little to no money, make large returns on investments, banks getting rid of their non performing assets, etc. has all been smoke and mirrors. The guru's that host these seminars are skilled at what they do and know just how to ignite the spark to get you to further your education. The real estate market has radically changed but there is no mention of the difficulties that are ahead. What guru's have been able to do in areas like California cannot be done in the town in Florida I live in. The money back guarantees that are offered have so much fine print to them that by the time you realize the program does not work where you live you stand no chance of every getting your money back. I would warn anyone to not invest you capital in these types of educational seminars. The same information is available in books, on line, and though investment groups. DO NOT SPEND THE MONEY>
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6 comments
#1167562

My husband and I got suckered too!!

#1167814
@PissedConsumer1167562

I'm sorry to hear that. I logged and online compliant under this website and was able to obtain a partial refund of the fortune we paid. Maybe your husband could do the same.

#1202820
@PissedConsumer1167814

We got scammed too how did u do to get some of ur $$ back

#1096212

I agree....it is a total sham!

#1093414

Thank you. That's just what I figured

#1044194

i attended the free seminar tonight. Im a licensed real estate agent with ten years experience as an investor.

What I experienced was a hard sales pitch for a $2000 seminar which was peppered with some half-truths about real estate investing which, if you educate yourself a little bit on real estate younwill recognize as B.S. , from what I understand if you take the 2k seminar they pressure you for a 30-40k seminar.

listen, if you have that kind of money burning *** in your pocket just go put it down on an investment property yourself. dont give it to these crooks.

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ID
#567306 Review #567306 is a subjective opinion of poster.
Location
Spring Hill, Florida
Reason of review
Not as described/ advertised
Loss
$43000
Preferred solution
Full refund

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