James Smith NRI, Darel Snyder PSI group — Took their advice and lost $65,000!
I was one of James Smith's students. Two years ago I went to a seminar in Burbank CA with my brother in-law and we decided to purchase the entry real estate package which was $5,000. At the real estate entry course we were offered a special deal for the entire real estate package (M5, foreclosure workshop, commercial workshop, mentor program and analysis software) which was additional $17,000 dollars for both of us. We were also offered an opportunity at M5 workshop, a profitable property which in return will have high return. So $22,000 which we spent will be covered. We bought the entire package. We took all the workshops except commercial workshop. We meet with other investors and the concept was good. We also talked with successful investors. Over all it was okay, we met interesting people. James has the right concept I thought.
At M5 workshop we were afford to purchase Edge luxury condo in Scottsdale AZ. We couldn't miss the opportunity. The condo that I purchased at that time the value was $350,000. The properties were discovered by PSI Group (http://www.psigrouponline.com/), which is run by Darel and Brycen Snyder. I personally spoke with Darel few times and he told me the Edge property is a sweet deal. I did some research and it looked like a good deal at that time. Plus given their expertise in real estate who am I to argue.
I signed an agreement with the builder that I can't sell the property for 18 months. Every month I did do diligence to make sure the value is going up. That specific zip code was always appreciating. I knew there were condos being built but I had no idea that it will impact the value of my condo. Plus I called the builder office few times to make sure my condo was appreciating, the answer to my question was always yes it's appreciating. 18 months is over now I'm trying to sell the condo and guess what my condo value down to $320,000. My total loss including negative cash flow is $65,000 dollars. I tried to contact PSI Group, they were going to get back to me in few days, and it’s been 3 weeks now. I paid $11,000 dollars to get an advice from real estate expert and this is what I get. It's very disappointing. That’s my story.