Attending the “Rich Dad Education” seminars run by Tigrent? If you are a budding entrepreneur, chances are you may be considering attending them. You might even be really excited; after all, who gives you get-rich-quick education and for free to boot?
Well, there is bad news and the bad news is that “free” is only a word they use to lure you in. According to the Better Business Bureau (BBB), you need to be extremely cautious when signing up for the upcoming seminars. In fact, one of them has already been concluded. Called “Property Management & Cash Flow”, the seminar was conducted during May 20-22 which Tigrent’s Learning website called “an essential for every serious real estate investor who is building a portfolio to generate wealth and cash flow.” The seminar was held at Hilton St. Louis Airport, 10330 Natural Bridge Road, Woodson Terrace. The same location is going to serve as a site for a three-day marketing seminar which is scheduled for June 24-26 and as the company website puts it, the seminar will “break down the marketing blueprint to fast track your marketing message to increase your market share and increase your profits”.
So, what could possibly be wrong with a company’s seminars that help you grow as an entrepreneur? Why is the Better Business Bureau warning us to take caution? Because the company has been having some major issues lately, that’s why. Besides the “F” grades (which is the lowest grade any company is capable of achieving with the Better Business Bureau) Tigrent Inc. and its affiliate Rich Dad Education have, the BBB has received some 140 complaints against the companies, 28 of which have been unanswered. The “F” grades, by the way, have now changed into “No rating” as the BBB in St. Louis has learned that the company has responded recently to consumer complaints with the BBB in Florida. However, the most important thing to consider with the BBB isn’t really the ratings – it’s the pattern of complaints…and so far the pattern of complaints against Tigrent tend to center around consumers claiming that Tigrent didn’t give them what they had promised and/or also misled them into signing contracts worth thousands of dollars.
Here’s what usually happens when you attend those seminars. First, you will be able to attend the seminar for a day for free. The “free” seminars typically last for one day. Once you get to the venue and attend the one day seminar, salespeople get to work using high pressure sales tactics on you urging you to pay for a three-day seminar. When you do pay for the three-day seminar, that is when the nightmare begins.
You will be highly encouraged to buy expensive products for thousands of dollars. Not only that, but the BBB has had a couple of complaints where consumers have claimed that company salespeople pressured them into joining the course work by telling them the price would go up if they did not sign up immediately.
The company has not responded to most complaints and money of several people has not been refunded. The company does provide a three-day grace period for a refund, but that too doesn’t seem to be without flaw as most customers claim that three days is not time enough to assess the value of the classes. The other problem is that you are required to submit your refund request in writing which adds additionally to the hassle-factor for such a limited 3 day refund period.
Now the question is, “What should we look out for when attending investment seminars or other programs designed to market wealth-building courses?” Here is what the BBB suggest you do:
- Understand that “free” or low-cost business seminars are not what they sound. They are usually words used to lure the attendees into buying other products.
- Don’t fall for high pressure sales tactics and offers that look too good to be true.
- Make sure that when you make the decision to spend thousands of dollars on a course to help you amass wealth, it won’t be something you are going to regret later on.
- Read any contract thoroughly before signing it. OR you can also take it home to investigate or get some legal advice and if the company denies you the permission to do your home-work, it is wiser to walk away.
- You must get in writing within how much time you will be able to cancel your agreement and still get the full refund. If the company refuses your request or if the time is too short, it’s a red flag.