Following the settlement of a lawsuit, the Federal Trade Commission (FTC) is sending 10 million dollars in refunds to victims of a phony real estate investment scam perpetrated by Response Marketing Group LLC along with Scott Yancey and Dean R. Graziosi who promoted the scheme. Response Marketing Group used social media and infomercials to promote three day workshops at a cost of $1,000 that purported to teach people how to make large amounts of money flipping houses. At these workshops Response Marketing Group also would pressure attendees to pay an additional $30,000 for a real estate investment coaching program. The scam was also promoted by Scott Yancey who formerly was featured on an A&E television show “Flipping Vegas” and Dean R. Graziosi who writes self-help books and has a YouTube channel with 170,000 subscribers. The entire program was based on false and misleading claims with attendees losing money rather than making the promised large profits.
TIPS
TIPS
Before hiring the services of a business coach, you may want to find out what helpful advice you can get for free through government agencies such as the Small Business Administration. http://www.sba.gov/starting-managing-business
As for flipping houses, here is a link to a Bankrate.com story about the pros and cons of house flipping.https://www.bankrate.com/real-estate/flipping-houses/
If you do decide to hire a business coach, you should find out if there are any complaints filed against him or her. An easy way to do this is to just do a search engine search in which you look up the person’s name with the words “scam” or “complaint” and see what comes up. Also, be wary of buying any program merely because a celebrity endorses it.
If you were a victim of this scam and have not been notified by the FTC in regard to applying for a refund, go to the ‘FTC Scam Refunds” section on the first page of Scamicide.com for more information. It is important to note that any applications for refunds must be filed before June 19th.
If you are not a subscriber to Scamicide.com and would like to receive daily emails with the Scam of the day, all you need to do is sign up for free using this link. https://scamicide.com/scam-of-the-day/
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