Fast Flip Real Estate is another real estate "guru" scam that I have discovered a little too late. Unfortunately this company seems to be relatively "new" and there was no scam information on them.
Fast Flip's concepts are to make an option to purchase real estate and then flip your option to someone else, making money on the flip to the 2nd person. They also tell you to do this with notes/mortgages.
First of all, in Illinois you are required to have a realtor's license in order to buy, sell or offer to buy or sell or otherwise deal in options on real estate. A small detail that no one at Fast Flip Real Estate bothered to tell me when purchasing the course. Also, in order to buy and sell mortgages in Illinois, you are required to be licensed as a mortgage broker. Otherwise, you can deal in both of these areas and receive finder's fees - that's IT.
They tell you on the phone that you are buying the course materials, and paying for funding for your real estate deals, your coach will buy your real estate deals, and you have an exclusive territory in your area to use their program. ALL completely false.
They also tell you that you should pay with your credit card so that in 30 days, if you are not satisfied that you can tell your credit card company. Apparently this is also false because that is exactly what I did, and they are contesting my allegations.
I would be interested in hearing from anyone else who has dealt with this company because even an EMPLOYEE told me that lots of people had called her and begged for their money back. Sounds like a class action lawsuit to me. I have spoken with an attorney and the "contract" is null and void because of being entered into fraudulently. But this means going to court...
I am currently owed $6,000. I will know if I got any credit from my credit card company next week.
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