Flip with Nick Reviews
About Flip with Nick
Flip with Nick is the online home of real estate investor and mentor Nick Vertucci, a retired police officer who claims that he has created the "blueprint for profit" in real estate investing.
How Does It Work?
According to the website, interested customers can sign up for one of the Fortunes in Flipping seminars that Nick Vertucci offers throughout Southern California. Vertucci believes that while real estate investment is a great way to make money, the truth is that it is a difficult business and requires teaching and mentoring in order for new investors to be successful.
These seminars are described as teaching attendants "the world's most efficient system for flipping properties," as well as explanations of how you can get no money down funding and how to find the best investment properties.
There is no explanation of fees or costs for these seminars, or any of the products you can get through these seminars. It is, however, free to register for a seminar, and the website promises that attendants will receive a free Fortunes in Flipping Kit worth $400.
Since the seminar is free to register for, there is no published Refund Policy or Guarantee. Customers who purchase products from this seminar or other related Nick Vertucci events should ask about potential refunds at that time.
Customer Service Contact Info
Customers who would like to contact their Customer Service team with questions, concerns, or complaints can do so using their advertised phone number 800-328-6418.
Unfortunately there are not many user reviews available for these seminars at this time. There are some complaints from past users of other Nick Vertucci materials and classes, but it does not seem that there are reviews specific for the Flip with Nick seminar series.
Competitors and Alternatives?
There are many other companies, people, and organizations that claim to teach people the best methods for investing in real estate, including Cody Sperber, Real Estate Mentoring, FreedomSoft, and many more.
If you have any experience with this company or their products, please leave your Flip with Nick reviews below.
23 ‘Flip with Nick’ Reviews
I attended the 12 PM event in Novi on Friday, October 23, 2015.
I agree totally with Donna's comments. I have been involved in real estate both on an investment side as well as the retail side of listing and selling residential properties for over 20 years.
Two additional items stood out. The presenter made two additional comments that I thought were poorly presented. One being the issue of wholesaling the property or the sale of the "paper". Yes this can be done but not as easily as presented for several reasons. Most bank owned properties (REO), also sometimes Fannie Mae or Freddie Mac owned homes specifically addresses the fact that the property cannot be assigned. Also some auction sites do the same thing. If the buyer (he/she) reviews the sales addendum (some of which are 25 pages in length) which is drafted by the selling entity, the great majority of the addendum does nothing but protect the seller. What about the issue of the "earnest money deposit" (EMD). Lets say the buyer is new to real estate and has to put down a 5% EMD of the purchase price, thinking that home he bought is a great deal and now wants to flip the paper and the smart new investor tells the buyer it cannot be reassigned. What does the newby investor do.? Does he try to close or walk away from the deal.? If he walks aways the EMD "IS NOT" refundable.!! If it is an investment property the buyer will have to qualify with a mortgage lender for two properties at the same time, as generally will require 20% down plus closing costs because it is a investment property and also probably eight (8) months of cash reserves.
The two properties that were on our slide presentation as being available or having already been acquired in the Novi area were local zip codes but no address was ever given. I researched the limited information going back one years and could not located the properties as being active for sale, pending or sold.
I sat next to a gentlemen that saw me taking notes on my IPAD and asked if I had any experience to which I replied yes. He then stated that if he takes the courses that they will provide him a list of who to call to do the repairs.? A list of qualified contracts that actually show up for a job is a list that is worth it's weight in gold.
When I speak with a potential buyer or investor, I can show them copies of the listing, all the purchase documents; the closing statements (HUD-1), and also the subsequent repairs and closing statement when the home is sold.
My mother and I attended Nick's Fortunes in Flipping Seminar yesterday, October 22, 2015, outside of the Detroit area. We have both had an interest in this and thought we'd check it out as we were supposed to gain all sorts of knowledge from the seminar. There were probably 50-60 people at the event, it was VERY structured and controlled. No questions allowed "so they could get through all the material in 2.5 hours" and because it would throw the presenter off. For the first hour it was nothing more than the presenters background, telling us about all of his degrees, how smart he was and about how many mistakes he made investing until he met Nick. Now he makes so much more money per month using Nicks' methods.
Their techniques are quite skilled. They tell you out of the entire room full of people, they are only going to accept 7-10 of us, they are very selective about who they work with. This automatically makes people think they want to be one of those 7-10 people. Then they say they don't want your money, they want your testimonials. Over and over we heard about how Nick is the real deal and how you don't find anything negative about Nick online. I did search and didn't find too much but then I realized there are companies out there that are paid to remove negative reviews. Also, if Nick is the number one house flipper in the country, why aren't there more reviews out there (positive as well as negative)???? After the first 1.25 hours went by, the presenter finally started to outline some the steps we would learn in training, but nothing of detail. Lots of emotional stuff, like having something to leave to your kids, making a better life for yourself, etc... They also hit repeatedly on the fact that they knew some of us were just there to "kick the tires" and they wanted nothing to do with those attendees, only those that were serious. They tout that they are "strictly by the numbers" program, if the math doesn't add up, they don't do the deal, which basically guarantees your success.
After about 2.25 hours of not learning anything of substance, they announce that for the first 3-5 people that sign up for the training, they will receive 30 minutes of one on one with the trainer right now, a chance for them to learn from the best, but he will take ONLY 5. The cost of the training (three days) is $5,695 if you don't sign up today, if you do it today, it is only $1,695, a savings of $4,000. Smart. Shock people with the huge amount and then give them the lesser amount and tell them that's only about $40 per month for 3 months or $120 investment on your credit card in return for a minimum of $5,000 after the first 90 days of using the "system". Then the presenter basically says "remember, only the first 3-5 people will get the one on one time with me and I can take no more than 5". Immediately 2 people jump up and run back to sign up and the rest of the room starts to fidget, looking back to see how many are back there and eventually more get up to be one of the first five and the presenter keeps talking and plays a video about all their successes. They claim a guarantee but no one ever let anyone look at it.
I didn't pay the money, nor did my mother, there were too many red flags. Anyone can take some pictures and put them up on a screen and say they handled the sale of the home and make up a number to claim as profit. Why didn't they copy the guarantee and let everyone read all of the FINE print on it? Why did the presenter and all of his team not dress better if they had all this money from real estate? Were the first two people that jumped up to sign up plants in the audience? Why did they not let anyone have their cell phone on vibrate (claiming it messed up their blue tooth slides)? Why did they give out false information on the validity of business structures (I am an attorney and at least two things the presenter said were not true regarding business entity structure)? Why did they keep telling people they were going to run out of the home study kits? If they come into town and want to sell the training, they have plenty of kits with them, they just tell people they don't so people will panic and run to sign up so they can get the kit. Also, why are they asking for people's FICO and credit reports at the training? I read another review that said after about 6 hours into the first day of training they indicate that you need "Advanced" training to learn everything, which is over $20,000! That's why they want your FICO and credit report. Plus they were pushing lots of zero percent credit cards as a means to finance everything, not something I'm interested in.
In the end we walked away with our free gift, a nice boxed lunch and really no additional information on real estate flipping. I think they make all of their money with these seminars. Just think, if they did 2 seminars per day for 4 days here in the Detroit area and at least 10 people signed up at each one, that is over $135,000 for the four days here in Detroit. If they do this every week somewhere across the country, that is over half a million each month and over $6 million per year, just doing seminars. That's where they make their money. Is it legit? I don't know, maybe I'm too skeptical but I just got a bad vibe from the entire thing.
Nick advertised his free house flipping seminar in Connecticut. In the radio ad it said he had more money than he had investors - so he was looking for 20 people to flip houses. This implied, at least to me, that his company would provide some money (e.g. as a co-investor or lender)) to investors to flip houses. After the free seminar, I asked about that and was told that in the 3 day training session they would tell you how to get the money, including using credit cards (not a good idea in view) which was very different than what their ad said.
The free seminar was very carefully controlled from the beginning, they even told each person were to sit. They also would not take any questions during their presentation (I suspect to avoid the risk of someone asking a question that would undermine their efforts to get you to signup for the 3 day seminar). They said they do not do hard sell, yet they used some of the hard sell methods. The presenter said make the decision about the 3 day seminar on the facts and not on emotions yet they played into your emotions the entire time ("don't you want to provide for your family?"). Then they played the "last day to sign up to get the discounted price" game and only X number of seats are left so be first in line.
I didn't signup for the 3 day because I never make a such a financial commitment on the spot be it buying aluminum siding for my house, a used car or a seminar. They sold the seminar like a used car salesman (and I guess I am insulting the used car salesmen by putting them in the same camp as Nick and company)..
Read the guarantees closely regarding getting your 3 day seminar money back if you are not successful using the program. It would be pretty easy from the company to say you didn't follow the program because you did or didn't do X, Y or Z
Very slick presentation. BUYER BEWARE!