I signed up with John Jennings (owner of National Investment Corporation) and paid $10,000 cash to be fully mentored for 1 year, about everything in Real Estate; pre-foreclosures / foreclosure deals, with 0 Down, No Credit required and 50/50 partnership on every deal he brings.
He was HIGHLY and AGGRESSIVELY promoted and introduced to members of REINCLUB by Mr Larry Loik, President of Real Estate Investment Network Club AKA REINCLUB (they are located in Thousand Oaks, California).
I had paid $690.00 for 1 year membership at REINCLUB.
We were shown pictures of John Jennings standing next to a convertible Mercedes, wearing suit and tie with dark glasses etc. All this to convince us how successful he was in real estate. Later on, he told me personally that he own or owened a Hummer also!!!
I have yet to see a Mercedes or a Hummer.
He always meet people at this particular coffee shop, around the corner from his apartment next to his mailbox address that he uses as if it is a business address.
This guy talks at the speed of lightning and has nothing to show for it.
Yet, I was so convinced by the presentation that, right after the presentation, I signed up and handed a $10,000 check to Mr Larry Loik (reinclub president) who introduced/promoted John Jennings. This was on
7-15-06.
Today, it's 6-13-07 and I never got any mentoring and got not a single deal.
Any deal that he offered me, I had to come up with $50,000 down minimum and had to run my credit report or my wife's credit report each time and/or he wants me to lend money to someone facing foreclosure etc. They were all worthless deals.
Finally, back in April of I sent John Jennings and Larry Loik several emails requesting for a full refund or meet with an arbitrator to settle the matter once and for all but, both of them declined.
Larry Loik maintains that he was nothing more than a promoter and was only paid by John Jennings $2,000 out of the $10,000 that I handed to Larry...
How can he be a promoter when he is the president of a real estate investment network club and charges $690.00 membership fee?
John Jennings told me straight forward that he doesn't even have that kind of money. At first he said that he only received from Larry Loik $2,000. Then he admitted that he received $8,000. He then said he can't afford to pay me back because, he does not have any money.
He does not have a car nor an office. He works out of his apartment.
I always have to meet him at a coffee shop near his apartment, where his mail box is also located. We always have to use my car and gas.
Originally, he said he is from San Antonio, Texas. Then I found out he was in Arizona under a business AKA Allforeclosure, which someone lost their house to foreclosure due to his alleged false promise stating that he will help them avoid foreclosure; (read on usacomplaints.com)
He still maintains a website under Allforeclosure in Arizona. He shows on his website the usual picture, sitting in a convertible MBZ!!! Now, he is in the Los Angeles area as mentor / investor and... Fill in the blank!!!
My story goes beyond this but, bottom line; think twice before getting involved with these people. I know there are more people that have been ripped-off by these people. It's a matter of time before they come out and sue them.
My intention is to find as many people and turn this into a classaction suit. For now I am going to file a lawsuit by myself, I'd rather not say anymore. National Investment Corporation and Real Estate Investment Network Club will here from me very soon. Just beware.
0 comments