Asset academy property investment courses

Susiouxsie

Hi there, 
           My family member has recently completed a paid three day course with them and is apparently 'buzzing' as he's just paid another £10,000+ for mentoring and a few courses he's interested in.
He was very impressed with what he's experienced so far and is aware of their history, business name change from going in to administration as he has apparently researched the company beforehand with good/bad reviews etc. It does sound like during the 3day 'recruitment phase' they were pushing the need for the courses, testimonials and spouting money back guarantee claims. Just sounds like heavy duty sales tactics as you'd expect. 
He is an extremely busy and hard working man (building trade), has accumulated a good amount of wealth over the years and is interested in investing and building a good property development portfolio.

From his point of view : if he puts a huge amount of money down he has no choice but to commit to completing the course. He's been stuck in a rutt for a while and looking for a quick fix and he believes what they're offering. 
 The pressure he's going be under to keep up with the course with his current job plus the cost of future courses will not be sustainable.

From what I've found on this forum and other reviews from their previous incarnation of 'legacy elite training' hasn't left the best impression.

I have read a large amount of negative reviews, press article about issues with getting refunds from them and that they went in to administration in 2019. Would be serious red flags to me!

Any positive experiences from real people would be good to hear for a balanced view but I'm beginning to think the good ones are well dodgy looking or potentially on their payroll. 

Ultimately, it's his hard earned money and nothing to do with the rest of the family. It's just difficult to watch someone you care about potentially get scammed.
I would be very grateful for any advice out there, thank you for taking the time to read. 

Slithery

If he has a 'huge amount of money' and is in 'the building trade' then why does he need to pay out tens of £K to even work out whether or not it's a good idea?
Actual property developers mange this day-in day-out without getting scammed along the way...

Susiouxsie

As far as I can tell he just didn't know the best way to start out and was concerned about going in to it without knowing enough. He was searching for online courses to learn the things he wants in a structured way while he works his current job.
 He has asked colleagues and friends of friends for advice who have flipped property and done buy to lets but I guess wanted to learn more for himself.

The courses they are offering claim to give you that knowledge and you will be more likely to be successful as a result (of course they do). They say they cover things like Buy to Let with guides to investing, securing investment with the help of a mentor. I don't know if these courses can deliver what they claim.
   I think a common tactic is to make sure you're comfortable handing over large amount of money under the guise of 'well, you'll all be  property investors soon so get used it' or 'you'll make the money back when you're successful but only if you follow the course'. 

Crashy_Time

You can get property seminars on CD`s or downloads that cost a few quid?

https://www.nightingale.com/authors/dolf-de-roos.html

https://dolfderoos.com/category/products/

BikingBud

Send it to me there's a similar probability that he will make loads from it

FreeBear

Susiouxsie said: he's just paid another £10,000+ for mentoring and a few courses he's interested in.

He has been had good and proper.

Susiouxsie

BikingBud said:

Send it to me there's a similar probability that he will make loads from it

I know, it sounds like the most obvious scam. I would laugh about it but I'm honestly worried sick he'll give them more money.  

Susiouxsie

Crashy_Time said:

You can get property seminars on CD`s or downloads that cost a few quid?

He had looked at some free resources but the Asset academy stuff 'won' as it is marketed with a mentoring package.

I guess, it's down to the perceived value. Huge pricetag = it must be somehow better,more reliable and more convenient 😐

Crashy_Time

If he already has money IMO he should be diversifying and investing it, not getting into a completely illiquid asset at the height of an obvious property bubble at record low interest rates! His trainers/mentors will obviously say different.

https://www.vanguardinvestor.co.uk/what-we-offer/all-products

Susiouxsie

Crashy_Time said:

If he already has money IMO he should be diversifying and investing it, not getting into a completely illiquid asset at the height of an obvious property bubble at record low interest rates! His trainers/mentors will obviously say different.

Well, he had money just hoping he's not given them any more 🤦🏻‍♀️. 
He wants to go in to property development and learn about it. His access to fellow tradesmen and his own experience in that area is what's driving it. 
There's probably a million better things he could have put his money in to that wasn't Asset academy but here we are. 

canaldumidi

Not sure what you are expecting here;

He is convinced this company is worth paying tens of thousands of pounds to.

You believe it is money down the drain.

Most people here think it's money down the drain (over 10 years and I've never heard anything positive!).

I guess there must be other mugs people like him who believe, or the company would not continue running the courses.

You're not going to hear anything reassuring here.

But equally I suspect you're not going to convince him not to carry on/pay more.