Nick Vertucci acknowledges the smell of paint in a house the “smell of money” in a YouTube video congratulating people who registers on his Real Estate Academy program. He calls himself a savvy investor who was able to reverse the effect of 2008 real estate crash to make more money during that time. “Buy fear and sell greed,” he continued. Read this Real Estate Academy review below to learn more about Nick and his program.
Real Estate Academy is a real estate investing training course that will discuss the big 3 type of investment which are flipping, wholesaling, and long term buy and hold. It was founded by Nick Vertucci, a real estate investor and host of Los Angeles real estate show called Real Estate Investing hour. Nick claims that it is easy to start and profit with real estate as long as you attended his program.
The main offering of the program is a three-day workshop with Nick and other real estate professionals. To start, you need to pay at least $1,000 to attend 3 hours of introductory seminar that is basically a sales pitch of the three-day workshop. The said seminar is also a required event before you can sign up on the three-day workshop which costs $30,000 to $40,000. The three-day workshop includes training on remodeling bathrooms and kitchens, and how to compare properties. Known as the “bus tour,” the workshop includes on-site viewing and assessment of properties. If the three-day workshop is not enough, you can pay an additional $250,000 for field training, a thumb drive with documents necessary in real estate, and step-by-step mentorship to guide you in handling phone calls and meetings with realtors.
The cost of the program alone makes this not worth it. To be fair, there is a 2-hour video of free training in Nick’s site. However, the only way for you to sign up on his 3-day workshop requires you to pay a grand already. You are paying a premium fee for a sales pitch. The cost for the three-day workshop and field training is just ridiculous.
The reviews on the program are overwhelmingly negative as well to the point that a lot is calling Nick a scam artist. It was that bad that a lot of complaints were escalated to Better Business Bureau (BBB). Aside from complaints on the quality of the training, a lot has mentioned how Nick takes advantage of the program’s refund policy. The refund policy states that you can get your money back within a year of purchase. However, most of the refund claims are allegedly ignored by Nick until the refund policy would not apply anymore. There are also complaints that they do not pay for the hotel and foods used in their introductory seminar and workshop. Even their previous site was plastered with “this account has been suspended due to lack of payment,” showing how consistent they are with not paying their dues.
They are also notorious for pressuring attendees of their introductory seminar to take loans unintelligently. They will advertise the loan as not as damaging to your credit score and is easy to be paid off when it is not the case. It will take at least a hundred off your credit score and with hidden fess amounting to $3,000 plus an interest of 18% after a year. Worst, they are primarily targeting old people (like army veterans) for their retirement money.
To add, real estate is not an easy business contrary to what Nick claims. Flipping houses alone is a high-risk endeavor that usually ends up with you selling with no profit or at a loss. All the investing types taught in Nick’s program also requires you to have at least six figures to operate. If you do not have a lot of capital and cannot deal with the liquidity issues of real estate properties, then you better skip this rather expensive program.
The verdict will be straightforward – I do not recommend Nick Vertucci’s Real Estate Academy at all. Not only I do not recommend the real estate investment types it offers, but the program is also very sketchy with overpriced offerings. Why trust a program to deliver a quality training when they cannot pay their dues at all? After all, that is the only thing they are consistent with.