HEIR -- what's the scoop???

[just wondering]

I've recently been looking into investing through a "wealth building" company called HEIR (Home Equity Investment Rewards). I've been to a few meetings, my brother has invested, and I've got my brother-in-law and sister-in-law looking into it as well. From what I've seen on this forum, people believe it's a scam. Does anyone have any recent experience or knowledge of the operation?

[SteveL]

Call the Attorney General for your state, to see if there are complaints.

[HFWR]

Based on the limited info on their website, I'd pass. Looks like a multi-level marketing company, for starters. So, you borrow your home equity, and invest in something? real estate related. IOW, buy some unknown "investment" on margin (using your home equity)... What are the fees, the expected returns, etc.?

Guess you have to go to a "meeting" to find out. Why not buy a REIT and be done with it...

[d]

i fully expect that it is a wealth dwindling opportinuty to rid you of your home equity -- good luck!

[Culture]

From their web page:

"Learn to give generously and receive graciously"

I would run, and run fast, when you investment adviser intends to teach you how to "give generously." Your adviser should concentrate on making you the maximum returns consistent with your tolerance for risk. If you want to learn about giving, please contact the church or social service agency of your choice.

"Provide maximum safety with highest returns"

Defies all academic and industry knowledge. You can have safety, or you can have highest returns. Both at the same time are impossible. This alone would ensure I would never listen to anything this organization ever says.

"Preserve the wealth you already have" and "Live debt free by lowering your mortgage and debt carrying costs" along with "Activate your home equity in order to build wealth"

How am I supposed to preserve my wealth and lower my mortgage by borrowing against my home equity? This makes no sense.

"As a leader in their field for close to 30 years, this company manages over 15,000 acres of land in Canada and the US. Their vision is to become one of the world's largest land products company. Their focus is purchasing raw land in the path of development of major North American cities. "

Manages, but not owns? Nice investment product there.

Two other problems:

1) They quote Robert Kiyosaki on their newsletter. Enough said.
2) They have this vauge "Christian" theme to their organization. IMHO, there is no Biblical contravention to the accumulation of wealth by ethical means. However, my experience is that almost every time someone tries to sell a commercial product as "Christian" it ends badly. If you have to brand it as Christian to sell it, it probably is not Christian.

Bottom Line:

Run, run now and run fast. Imagine that a hungry rabid lion is chasing you.

[Culture]

Oh, to actually answer your question "Does anyone have any recent experience or knowledge of the operation?"

No.

Keep in mind that it is not only your own wealth that you are going to destroy here, but also your relationship with your brother, brother-in-law and sister-in-law when things go sour (and they almost certainly will).

Of course, I could be wrong.

[haha]

I think you will find that few or none here have experience recent or otherwise with this scam.

We only have so much time, energy and knowledge. Why waste any of that chasing unlikely payoffs?

As Uncle Mick would say, Psst Wellesley!

Or as I would say, Psst!, get a grip.

Ha

[Nords]

Quote:

Originally Posted by just wondering I've recently been looking into investing through a "wealth building" company

Building whose wealth?

Oh, wait, I recognize this question-- bringing up this type of topic at only the second post, the first post already deleted by moderators, and a profile full of visits from only moderators. Looks like astroturfing spam to me!

[just wondering]

Nords, I have no idea what astroturfing is, but it sounds as if you're implying that I'm not a "real" person asking a "real" question. If that's the case, that's very insulting, especially considering your status on this forum.

I stumbled across the forum when I was Googling HEIR to find out some information about it. I came across a thread by Kombat who was trying to convince his wife that HEIR was a scam, but nothing had been posted since the end of June.

My posts weren't deleted, FYI, the moderator delayed posting them until she was certain that they weren't spam.

I appreciate the sincere and helpful responses I've received, and hope that more people will respond to my sincere request for information. I'm just like the rest of you here -- real people trying to learn from one another.

[OAG]

Wait a Year and ask your Brother how he is doing financially with the process. He seems to by your best source of real hands on information. Of course he may not want to share bad information with you (may enter denial).

[donheff]

Quote:

Originally Posted by just wondering I've recently been looking into investing through a "wealth building" company called HEIR (Home Equity Investment Rewards). I've been to a few meetings, my brother has invested, and I've got my brother-in-law and sister-in-law looking into it as well. From what I've seen on this forum, people believe it's a scam. Does anyone have any recent experience or knowledge of the operation?

Why in God's green earth would you drag your family into an "investment proposal" you admittedly don't understand and are concerned might be a scam? Are you trying to alienate them?

[just wondering]

OAG, that sounds like a good plan. My brother's a really logical guy, so I can't imagine that he'd be taken in by a scam.

Donheff, I'm not "dragging" my family into it. My brother-in-law and sister-in-law are looking into it simultaneously with me and my husband. We're both doing our "due diligence" to try and sift through everything to see if it's just smoke and mirrors or if HEIR is really onto something.

[Moemg]

I was taught a great lesson by the tech melt down . If you do not understand it do not invest in it .

[donheff]

Quote:

Originally Posted by just wondering Donheff, I'm not "dragging" my family into it. My brother-in-law and sister-in-law are looking into it simultaneously with me and my husband. We're both doing our "due diligence" to try and sift through everything to see if it's just smoke and mirrors or if HEIR is really onto something.

OK. I was just reacting to this in the OP: "I've got my brother-in-law and sister-in-law looking into it as well." Sounded like you got them involved and would own their angst if they invested and it turned out to be a scam.

[just wondering]

Is there any way to find out for sure if it's a scam? Does the government keep tabs on companies like these? They're listed with the BBB and have a clean record, but is there some higher authority that can vouch for their authenticity? Alternatively, what are the true signs of a scam?

[Sarah in SC]

If it sounds too good to be true, it probably is.
There is no law against stupidity, otherwise the jails would be full.
No government agency or salesperson is responsible for your money, you are.

Those are just a few off the top of my head. If most of the very smart folks on this forum say that it sounds like a scam, then gee, I'm not going to test the theory with my money!

[OAG]

Did a google on subject "HEIR home equity investment reviews" and got some information from "satisfied customers". From what I read this is a Canadian Company to which you "give" a membership feel of ($5-6K) then they "hook" you up with people or companies looking for money (your equity) to do Real Estate Projects. So you will have to do due diligence on the companies they "refer" you to (they get a "referral fee" for doing this I am sure). Seems like a Roladex based company to me. Frankly, I would stay away, unless your brother can show "real" returns far above his entry fee and "investments" in a year or so.

[just wondering]

Sarah, those are great sayings. As a newbie to this forum, maybe I should find out what people are happy investing their money in. I haven't done any looking around other than asking about HEIR.

[Goonie]

Quote:

Originally Posted by Moemg If you do not understand it do not invest in it .

Ditto!

[FinanceDude]

Quote:

Originally Posted by just wondering Sarah, those are great sayings. As a newbie to this forum, maybe I should find out what people are happy investing their money in. I haven't done any looking around other than asking about HEIR.

You are growing more wise with each post. I would stay as FAR AWAY from this as I could. Typically in such "opportunities", the guys that are called "Regional VPs" or "National Sales Managers", have the upper hand. They make 100% overrides on you killing yourself to get all your friends and family involved, but you get a small pittance...........