“FREE Seminar – How To Buy House with Zero Down”

It takes one to know one… or at least that’s what they say.

So after you’ve booked one of these “Wealth” seminars, traveled so far, paid outlandish prices for books and tapes and even more for memberships, John T. Reed tells us what has become of many of these “Get Rich Quick” gurus.

  • Albert Lowry, author of “How You Can Become Financially Independent by Investing in Real Estate,” declared Chapter 7 bankruptcy in 1987.
  • Craig Hall, author of “Craig Hall’s Book of Real Estate Investing,” declared bankruptcy in 1992.
  • Bill “Tycoon” Greene, author of “Two Years for Freedom,” was convicted, fined and sentenced to prison. (He later escaped from a minimum security prison and is believed to be living in England.)
  • Tony Hoffman, author of “How to Negotiate Successfully in Real Estate,” filed Chapter 11 bankruptcy for his company in 1986.
  • Wade Cook, author of “How to Build a Real Estate Money Machine,” declared Chapter 7 bankruptcy in 1987 and 2003.
  • Dave Glubeitch, author of “The Money Game,” declared Chapter 7 bankruptcy in 1987.
  • Dave Del Dotto, author of “Cash Flow System,” was charged by the FTC with misrepresenting products in 1993. He filed Chapter 7 bankruptcy in 1995.
  • Charles Givens, author of “Wealth Without Risk,” was successfully sued by a former customer for giving bad financial advice. He filed for Chapter 7 bankruptcy in 1995. He died pending trial.
  • Sonny Block, author of “Inside Real Estate,” was indicted in May 1995 by a federal grand jury for fraud and fled to the Dominican Republic to avoid prosecution. He was eventually deported to the U.S., but died pending trial.
  • Ed Beckley, author of “Million Dollar Secrets,” declared bankruptcy in 1987 and was sentenced to federal prison for wire fraud.
  • Robert Allen, the author of “Nothing Down” and “Creating Wealth,” declared Chapter 7 bankruptcy in May 1996.

I guess it’s safe to say that speculating on housing is out for now, at least until the line of books in the library changes to something such as, say, commodities.

Advertisements

Tags: ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: