Nouveau Riche (real estate investment college)


Nouveau Riche (real estate investment college)
Nouveau Riche
Established 2000
Type vocational school
President Jim Piccolo
Location Glendale, AZ
Website www.NouveauRiche.com

Nouveau Riche is a non-accredited[1] vocational school specializing in real estate investing. Class topics range from introductory real estate investing to advanced techniques such as creative real estate investing techniques including wholesaling, multi-units, and short sales; examples of course titles are "Fix & Flip" and "Creative Financing."[2]

The company takes its name from the French term nouveau riche, which refers to those with "new money", or who created wealth within their own generation as opposed to inheriting a family fortune ("old money").

Contents

The school

Nouveau Riche has taught thousands of students from around the United States. In 2007 more than 9,000 people attended the college.[3] At a single college session held in Glendale, Arizona more than 2,200 students gave the instructors a 93 percent approval rating.[3]

There are currently three tuition schedules ranging between 30-120 instructional hours. Students may designate a partner to attended classes at no additional charge.[4] Classes are taught using the principles of instructional systems design and multiple six-day college sessions are held throughout the year.[3][4] Those students who are enrolled with the Regents tuition (currently 98 percent of all students) may repeat classes for an additional year and have access to streaming video classrooms for select courses at no additional charge.[4]

The American Council on Education lists Nouveau Riche under the CREDIT program list of reviewed courses.[5] However, if the credits are accepted by a college, it is at the Junior College, or Associate's Degree level.[citation needed]

History

Nouveau Riche was founded by Jim and Mary Piccolo in 2000 with the inception of the company’s educational programs occurring in 2002 through collaborative efforts with co-founder Bob Snyder.[6] In December 2002, the corporate headquarters were established in Scottsdale, Arizona.[citation needed]

Nouveau Riche currently has plans to construct a campus facility on a 30-acre (120,000 m2) site overlooking the Phoenix, Arizona valley.[7] The 140,000-square-foot (13,000 m2) campus is estimated at a cost of $74 million and is planned to have administrative buildings, glass-and-steel classrooms and luxury dorms linked by a man-made river.[8] The design of the complex is headed by Larson Associates Architects, Inc.[7]

Controversy

Fortune Small Business reports that the company's affiliated investment broker, Investor Concierge, markets properties as "positive cash flow", but the cash flow is often positive only because of temporary subsidies, putting the buyer at risk of negative cash flow after the subsidies expire.[2]

Notes

  1. ^ Buchholz, Jan (October 14, 2007), "School buys N. Phoenix parcel", Phoenix Business Journal 
  2. ^ a b Gray, Patricia B. (August 8, 2007), "Who would buy real estate in this market?", Fortune Small Business 
  3. ^ a b c Savage, Robert Lucas (January 2008), "Graduate Riche", Your Business at Home 3 (1): 44–49 
  4. ^ a b c Voss, Megan (January 2008), "Structured Success in Real Estate Investing", Your Business at Home 3 (1): 23–25 
  5. ^ www.acenet.edu[dead link]
  6. ^ NouveauRiche.com/about/founders
  7. ^ a b Savage, Roger Lucas (June/July 2008), "On Top of the World", SUCCESS: S6-S11 
  8. ^ NouveauRiche.com/about/nouveaunews

External links


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