Millionaire Academy ratings, reviews and complaints - Real Estate Investments

Complaints and Resolutions

Complaint Experience

N/A

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Complainants allege high pressure sales tactics, misrepresentation of services offered, unfullfilled contracts, and general dissatisfaction with the quality of the course material taught at the Real Estate Seminars. Clients complain they pay $4,000 to $6,000 for the Real Estate course but fail to learn anything new. One customer stated that each week the course was the same as the previous. Most complainants allege they paid various amounts in addition to the price of the seminar training, ranging from $2000 to $5000 as "escrow deposits, " "downpayments" or other fees associated with investing in a real estate venture with the company. Customers complain the company failed to provide appropriate contracts or an investment prospectus concerning the amounts they invested in buying a property. All complainants report they have received no benefits as a result of investing the money. A few clients have reportedly been advised their invested amounts were non-refundable, had been used for administrative costs, or have otherwise received a run around when inquiring on the status of their investment. One customer complained that they paid $6,000 for their course, cancelled before the cancellation period but despite the company's promises they failed to receive a refund.

The company responds to some complaints by stating that the customer's refund period had expired, but eventually settling by providing refunds on the property investment amounts, and in some cases, refunding the cost of the course materials as well. .

Our complaint services are free and our team of expert mediators will assist in resolving complaints with businesses.

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Complaint Closing Statistics

0 complaints against Millionaire Academy closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
0	Agreed to make an adjustment
0	Refusing to make an adjustment
0	Refuse to adjust, relying on terms of agreement
0	Unanswered

Other Information

Company Info

This company's business is providing creative workshops and courses in real estate training.

Primary Contact:	Brian Page (Managing Member)
Business Started:	9/7/2002
Social:

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Licensing

We know of no licensing or registration requirement for companies engaged in this company's stated type of business.

Government Actions

BCA has no information regarding government actions at this time.

Comments and Analysis

We have reviewed some of the companies promotional materials regarding an offer to joint venture purchase residential property in the Desert Hot Springs, California area. The company claims that you may purchase up to 4 properties at a time but you must get pre-qualified for a loan, deposit $2,000 for each property, and purchase a Limited Liability Corporation (LLC) that both you and they will have an ownership interest in.

Before investing, we suggest you seek the advice of an attorney to determine that the terms of the contract, or business proposal, are fair and equitable for both parties. Consider the following, HIU receives $1000 from the investor for locating the property, a 2% finders fee from the builder, 50% of the equity after two years, and then gets to keep the house. The investor must pay $1000, use his/her credit to obtain the property, assume all financial responsilbility for mortgage, taxes, property management costs, pay in full for the trust, but only gets 50% equity after two years when the property is sold.

Keep in mind, if your credit record is poor, you may have to be assigned a partner in order to purchase a property .

Other Considerations

We know of no other matter or practice relating to this company that may assist you in your consideration of this company.

Industry Resources

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Additional Info

DBAs:

Homes in Units Network, LLC

Homes and Units Network, LLC

First Real Estate Team

1st Real Estate Team

Websites:
There are no additional web sites.

Contacts:

Virginia Swanson (President)

Nancy Villalobos (President's Assistant)

Virginia Kaufman

Reputation Report

Millionaire Academy

Complaints and Resolutions

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