I have waded my way through a slew of familiar complaints as I have looked to see whether or not I have recourse against the bald lies this company told me. I have family in Texas (I live in southern California) and recently saw an infomercial on some properties in Horseshoe Bay, an area 30 miles from my family's home. The story line was "if you pre-qualify we will put you up in a hotel and treat you like a king while we show you our guaranteed low price retirement communities."
They put you in a hotel, treat you like a king part I suppose it is true. They were upset when my parents showed up to take the bus ride out to Horseshoe bay from Austin. I did not realize till later the beauty of their trick is to bring people from inflated property areas, sequester them from the locals and sell them properties at three times the local value. I can respect how clever they were, as we drove through neighborhoods NRPI did not own, given comparative prices we could not check. The whole time being told that we could sell the property at any time "probably for much more than we were paying for it".
I will admit, I am a sucker. I bought a nice corner lot for 50 thousand dollars. The lie that kills me the most was when my NRPI representative said kind of under his sleeve "When you get the tax assessment from the county... Don't be alarmed if it is half what you paid for the property. (Mine wasn't, it was a quarter) Out here in this part of Texas the county seat has too old gals running the whole show and they rarely check on values." As if these poor doddering matrons could barely rise from their seats.
The old gals were right on the money, my property is not worth the interest I am going to pay on the loan. Do not fall for these guys, do your own homework. Not only will they mislead you they will lie to your face, then shake your hand.
1 MAUCHLY IRVINE, CALIFORNIA -- My wife and I bought Property in Hots Springs Village 2004. At the time, we advised the sales rep that we're not sure we would retire to the Hot Springs area so several times we said no to the purchase of property. The sales rep insisted if we decided not to retire there "We could easily sell the land and most likely make a profit." The worst has happen, we are not going to be able to retire there, so we contacted a real estate company in the Hot Springs area. We are told the land is worth less than half what we bought it for.
According to the real estate rep the hot springs area have a gulch of property for sale and it could take years to sell. Our finances is not able to carry the property for years. We will sooner or later have to default which would affect our credit. We would like to avoid that if we can.
We would like NRPI to take the land back to their inventorythey may keep the $3,500.00 we have already poured in the investment. We just want to be cleared of any future payment. We were lied to by their agent--the agent even took us by her own house in an attempt to pressure us. We didn't learn about the low value of the property until we attempted to sell it. Sandra and I would not be happy living there as there are other issues we have learned about from rip-off reports.com.