Customers of house-flipping scheme tied to HGTV stars to receive $12M in refund checks
Source: KTVX-TV Salt Lake City, UT
Posted: Jul 31, 2024 / 05:23 PM MDT
Updated: Jul 31, 2024 / 05:23 PM MDT
(NEXSTAR) The Federal Trade Commission (FTC) is distributing $12 million in payments to thousands of Americans after it says a Utah-based company with ties to multiple HGTV stars duped people into paying for pricey seminars promising success flipping houses.
The company, Zurixx LLC, agreed to a settlement in Feb. 2022 after it allegedly used false earnings claims to convince would-be real estate entrepreneurs to pay, in some cases, tens of thousands of dollars to learn the Zurixxs house flipping system.
Zurixx owners Christopher Cannon, James Carlson and Jeffrey Spangler boosted sales from the coaching scheme by partnering with home-improvement and flipping TV personalities, according to the FTC.
Celebrities involved included HGTV stars Tarek and Christina El Moussa of Flip or Flop and Hilary Farr, along with Peter Souhleris and Dave of A&Es Flipping Boston, among others. In some cases the TV stars never actually showed up for the classes, sending pre-recorded video messages instead.
Read more: https://www.abc4.com/news/customers-of-house-flipping-scheme-tied-to-hgtv-stars-to-receive-12m-in-refund-checks/
Link to FTC PRESS RELEASE - FTC Sends More Than $12 Million in Refunds to Consumers Harmed by Zurixx Real Estate Investment Coaching Scheme

mopinko
(72,153 posts)sounds like it. they hooked them up w short term lenders charging 10% and more. convinced them the BEST way to do it was w opm- other ppls money.
they flipped several houses and barely made any money.
democratsruletheday
(1,229 posts)I bought a Carleton Sheets no money down system for about $400 approx. 20 years ago. We didn't use it (also heavily suggested being leveraged/in debt to flip houses) but did end up flipping a few and making good money BUT only because my Dad/partner put up his house to do it. No short cuts folks.
mopinko
(72,153 posts)had a good divorce settlement and invested it in that. put as much into it as i paid for it. got top of the market rents for a few yrs, but got my ass kicked during the plague and had to sell it. made a fair amount of money, but cd have made more except the realtor was a chicken.
i paid off the mortgage on the 2flat i got in said divorce, so tho i miss that rent check, not having that mortgage to pay cut that loss in half. put a lot of money into that bldg, and was able to almost double the rent, while cutting my costs.
im hoping to buy the 2flat next to me, if the guy ever gets around to selling. it was so hard to find a contractor in the plague. but i have a real good guy now.
rescuing that house was a long time dream come true. the 2flat needs a lot of work, but it is such a beauty. mine is sorta stripped down, but that 1 is the top of the line. woodwork to die for. built in china cabinet. not messed w much.
gonna hurt to have a mortgage again, tho.