BIZZIBIZ: Jim Piccolo Mansion Listed For $3.5M (SOLD!)

Jim Piccolo, the controversial founder of Nouveau Riche University, Bizzibiz digital marketing franchise, and Real Estate Worldwide (REWW) reportedly is trying to sell his extravagant Scottsdale, AZ estate via a short sale (see below).

Asking price:  $3,500,000

UPDATE:  House was sold on 7/25/12 for $3,000,000 according to Zillow.

UnhappyFranchisee.com has been told that Jim Piccolo’s house at Big Bear Lake, CA is on the market, and that his luxury car collection is also being sold.

Jim Piccolo property 1Fortune has not been kind to Mr. Piccolo in the past year and a half.

In a February, 2011, the Arizona Corporations Commission announced that Jim Piccolo and his business partners must pay nearly $6 Million in restitution and fines for defrauding 105 investors with unregistered deed of trust investments.

(BIZZIBIZ Franchise Founder Jim Piccolo Defrauded 105 Investors, Says AZ)

Jim Piccolo’s attempt to create a national digital marketing franchise company, named Bizzibiz, never got off the ground.  Plagued with problems from the start, the franchisor company recently filed for Chapter 11 bankruptcy protection (See BIZZIBIZ Bizzi Biz Franchise Goes Bust, Declares Bankruptcy)

Jim Piccolo property 1The status of the reported 85 franchises sold by Bizzibiz is unclear.

UnhappyFranchisee.com has been told that Jim Piccolo is now directing his energy into another Nouveau Riche-type real estate investing school venture called Real Estate Worldwide (REWW)

Listing for 23035 N CHURCH Rd Scottsdale, AZ 85255

The Jim Piccolo property is listed on Redfin here:  23035 N CHURCH Rd Scottsdale, AZ 85255

Here are the highlights:

Beds: 7  Baths: 10  Sq. Ft.: 12,500  $/Sq. Ft.:  $280

Lot Size:   8.11 Acres  Property Type:  Single Family Detached   Style:  Contemporary, Santa Barbara/Tuscan

Year Built:  1990  Community:  Pinnacle Peak Heights Unit 6  County:  Maricopa   MLS#: 4672208

Source:  ARMLS

Jim Piccolo property 3Status:  Active with Contingencies The seller has accepted an offer on the home, but certain conditions must be met by the buyer before the sale can be finalized.

On Redfin:  258 days

“Magnificent 8+ acre estate! Includes every imaginable custom detail-exquisitely appointed light fixtures, vanities, mirrors, to-wine room, game room, library with floor-to-ceiling book cases, office, unbelievable 40-seat theater complete with stage area, soda station and more! Athletes can enjoy complete gym facilities–weight room, lockers, steam shower and tanning room. Relax indoors or out-in sit down bar or lounge areas. Impeccably manicured grounds with waterfall, pond, pool, fire pits and tennis court. Car aficionado’s dream 2200 sq ft garage, complete with custom storage and hydraulic lifts. No detail overlooked in this one-of-a-kind masterpiece estate. * * TV’s, Crestron theater equip, Speakers & seating do not convey * * ”

Jim Piccolo property 4

Jim Piccolo’s property is listed as a short sale

Jim Piccolo’s mansion is listed as a “short sale,” which is explained on the Redfin website:

A short sale listing is one in which the seller still owns the property, but owes more money on his mortgage than he will get from selling the property. Most often, more than one bank holds a mortgage on the property and each bank has to approve the sale…

With multiple parties required to approve the transaction, the short sale process can be long and frustrating, and comes with no guarantee of success….

How are Short Sales Different Than Foreclosures?

Short sale homes are still owned by the home-owner, while foreclosures are owned by banks. If the home-owner cannot sell the home through a short sale, the bank initiates foreclosure to try to sell the home directly, often in an auction. If the auction fails to turn up a buyer willing to pay at least what the bank was owed on the home, the home becomes Real Estate Owned (REO), where the owner is the bank. The bank then typically sells the property through a real estate agent.

ARE YOU FAMILIAR WITH JIM PICCOLO, BIZZIBIZ, NOUVEAU RICHE, OR REAL ESTATE WORLDWIDE (REWW)?  SHARE A COMMENT BELOW.

Contact UnhappyFranchisee.com

Contact UnhappyFranchisee.com

10 thoughts on “BIZZIBIZ: Jim Piccolo Mansion Listed For $3.5M (SOLD!)

  • October 30, 2012 at 1:40 pm
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    In October 2011 I loaned $50,000 to Jim Piccolo/BizziBizs as a short -term loan of 30 days .

    As of today’s date October 30, 2012 I have not receive payment of any kind despite many attempts to collect this debt has been completely ignored

    I would greatly appreciate any suggestions on how I may be able to collect !!
    It’s a lot of money I cannot afford to lose it especially these days

  • October 30, 2012 at 2:06 pm
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    PS to whom it may concern

    Jim and his wife are still driving around town beautiful black Bentley and black Range Rover which I was led to believe were being sold satisfy creditors obviously is not true.

    To me it’s just doesn’t seem like an honest thing to do!

  • November 1, 2012 at 3:02 pm
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    That is unbelievable that Jim and his wife would be driving cars like that after all the people they have ripped off!

    Where did you see them? I’ve been trying to collect from them as well.

  • Pingback:BIZZIBIZ Franchisees Reject Jim Piccolo Spin : Unhappy Franchisee

  • January 29, 2013 at 10:01 am
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    O “Jimmy boy” is holding the throttle at wide. Open…you know when you do that it’s gonna come apart…”guess it did”…when you have that kind of wealth, and it sounds to me like it was borrowed usually the borrower gets stuck in a rut, things and markets go bad but the borrower cannot seem to borrow enough to keep his lifestyle, the problem is he doesen’t know when to stop borrowing and finally ends up in the gutter as I see he has, well not quite yet in the gutter yet, but he is headed there…look at Warren Buffet, he understands what a liability an assett is, he doesn’t have to steel to keep his wealth…lol…I have a relitive with the same mo. Your money becomes their money and they seem to think that you owed it to them, even though they forgot about the part about it was a loan…lol…they need to keep up their lifestyle at any cost…they act like they are going to pay it back but after so much time the issue will go away unless you stay on it…it’s too bad that we now get to see/meet the real person behind the sheet of green, usually it is not a pleasent sight…I thought “Jimmy boy” had it together….I kind of liked him, he had a lot going with NouveauRiche, but he spent all the money coming in for his lifestyle instead of taking care of business…the money went to his head I guess

  • May 28, 2013 at 11:28 pm
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    Mr. Piccolo is a master salesman with a sick sense of entitlement. He doesn’t seem to know when to apply the brakes. Scamming appears to be a part of his fibre. He needs help to stop before he takes more innocent people down. Don’t be fooled by Jim’s likeable nature. He is bad news!

  • August 15, 2013 at 12:32 pm
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    Jim and Mary will take your money and you will never see the end product. They are cheaters and liars. They steal from hard working Americans and have zero remorse. That is what a definition of a Sociopath.

  • April 1, 2014 at 10:40 am
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    4/1/2014. I was about to sit down to write a letter to Mr. Piccolo and explain the financial situation he and Nouveau Riche has subjected me to. I googled his name in order to get an address to forward my letter and found the many links of negative information looming out there about Jim Piccolo. I feel so stupid and ignorant to think now that Jim Piccolo would be interested in what I have to say knowing now how he has scammed so many people out of so much money. I am soooo, well, I don’t know what the word is as to how sickened I feel.

    I love real estate, and when I found Nouveau Riche in 2007, it seemed to be just what I was searching for after having also been scammed by Donald Trump in the same way. But, I thought NR would be different. And, since I did not have any money to attend his COLLEGE, Jim’s pawns found me a loan (a private one) unfortunately. I was so grateful when I was told not to worry, it may take some time, but I would get a loan.

    I questioned why the loan was so much, ($25,000) as the total education package was $16,000 and was told that I would need marketing materials and travel expenses. I was not interested in the marketing end but was told it was part of the education. What the heck did I know except that I wanted the education to go out and do real estate. So I signed and now I’m stuck and so is Citizen’s Bank, as I have not done one real estate deal in 7 years since. My loan now is over $30k. I paid some over the years but the added interest shows I owe more than the original loan itself. I’m retired and can’t pay anymore than I already have. I told the bank, who has been very understanding, that I will always be interested in finding a way to do real estate and when I do have some deals, or win the lottery, they will be first in line to be paid back in full.

    I guess with all the millions Jim Piccolo has scammed others out of, $30k is just a rain drop in the bucket. And, Jim, if you happen to real this, and find it in your heart to help me, kindly contact Citizen’s Bank to repay my loan.

    I was promised help and assistance, as were all the other perspective students attending the weekly cattle call meetings we, as marketers were obligated to drag into after marketing all week long.

    As Danny Nassi put it, as he stood on a chair and extended his hand to an invited guest, “we will take you by the hand, walk you thru a deal and you will be on your way”. Not.

    When I called Danny one day for help, there was none and never was. I worked hard at the marketing, brought people into the weekly meetings but fortunately for them, they didn’t fall into the trap. They are the lucky ones. And, for me, I am grateful now for not having their being scammed on my conscience.

    I understand Jim’s partner in crime, Dan Snyder, who I thought of as so wonderful, is following in Jim’s footsteps, running another scam just like NR called Renatus, be careful!

    I leave you and others reading this comment that was told to all “students” by the great Chad, ” If you have a complaint, write it down on paper and mail it to yourself”. I did, but it did no good!!!

  • April 4, 2014 at 10:49 am
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    Hello, Patti,

    My firm, Bridge Management Consulting, helps small business owners them who are struggling with overwhelming debt resulting from a failing or closed business. We help our clients settle their debt.

    We’ve helped with outstanding bank loans, unearned franchise fees, terminating franchise agreements, and non-compete clauses. We specialize in SBA loans and the Offer in Compromise procedure, and we help settle vendor debt, landlord/lease problems and other financial obligations resulting from a failed business.

    Feel free to contact:

    Ryan Lineham, Director of Client Services
    401-390-3800
    ryan@bridgemgt.com

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