ORLANDO, Fla. — Action 9 has a warning about real estate seminars in local hotels promising big returns if you buy their money-making programs.
Two local men claim they lost $40,000 after signing up for classes that never happened.
“We thought we were on board with something amazing,” Keone Robinson said.
Robinson and his friend Edgar Reyes attended a free seminar in a local hotel.
Premier Tax Liens came to town selling a money-making program to buy tax liens as real estate investments.
“It seemed like an interesting way of being able to acquire property,” Reyes said.
The seminar was really a sales pitch for its program that showed investors how to buy tax liens that were placed against homeowners who failed to pay property taxes. The program would also explain how purchasing these liens could lead to acquiring the property involved.
Robinson and Reyes signed the Premier Tax Liens contract and say they paid nearly $40,000 for the program.
Robinson said that within just a few months, he felt misled and trapped. “They robbed me of my faith in people.”
The same month they signed the money-making contract, COVID-19 became a major concern.
Both men say Premier Tax Liens offered a few seminars online but that was not what they paid for.
They purchased the “Diamond Executive Program” that included multiple in person training and investor events.
Reyes said the events never happened and all their attempts for a refund failed. “Basically just, good luck thanks for the money, that’s what it feels like.”
“They acted like they don’t even know me,” Robinson said.
Action 9 found the company is rated B with the Better Business Bureau, but it’s had 6 complaints in just a year. One customer claims it never delivered on the promise that its program was a “speed boat” to real estate riches. Another person felt misled after paying $20,000.
“Be very careful and keep your emotions in check,” said Erica Urdaneta with the Central Florida BBB.
Urdaneta can’t comment on this specific company but warns in general some real estate investment seminars can be risky, so don’t fall for a frantic sales pitch and urgent deadline.
“If they’re pressuring you to sign this contract and not willing to answer your questions, that’s a huge red flag, make sure you get answers before signing on the dotted line,” Urdaneta said.
Todd Ulrich reached out to Premier Tax Liens several times but has not received a response.
Robinson and Reyes vow never to make this mistake again.
“Don’t try to sign anything just at the spur of the moment,” Reyes said.
If the company is making money selling seminars but not investing in real estate, consumers are advised to watch their wallet.