We have all watched those TV reality shows….you know the ones that make it look really easy to flip an old rundown house into thousands of dollars in profits. Well, Tarek & Christina aside, the Federal Trade Commission and the State of Utah recently announced that they were charging a Utah-based company with lying to consumers in order to convince them to attend allegedly free real estate seminars across the country. HousingWire is reporting that the FTC says the company (Zurixx) promised to give away the secrets to making money flipping houses at their events, but actually charged just thousands of dollars for what they say were supposed “secrets.” In addition HW reports that the FTC says the entire operation is a scam, with the company allegedly using “deceptive promises of big profits to lure consumers into real estate seminars costing thousands of dollars.”
“…Zurixx entices people to attend its “free” real estate seminars by using HGTV stars and other TV personalities as celebrity endorsers and claims that attendees can learn how to flip houses to make money……Zurixx’s business model has come under fire in recent years, with many customers accusing the company of using false advertising to entice them to attend the company’s events…”
National REIA believes that the best place to get started in real estate investing is to attend a meeting of your local NREIA affiliated REIA (aka a real estate investor association). Click here to find a group near you.