I just read a wonderful book that I highly recommend to you.
BUT WAIT...THERE'S MORE! is the simply mesmerizing book by author Remy Stern that chronicles the television infomercial industry and how those silly late night TV spots selling everything from ab tighteners to cleaning products to---you guessed it---real estate get rich quick schemes has become a $100 billion a year industry.
Of particular interest for anyone thinking about buying one of the real estate courses advertised on the Internet or on late night TV is a chapter in this book called "Crooks and Liars" which of course chronicles the history of so-called "creative real estate" get rich quick frauds of the past.
This book is like a trip down memory lane for me. I got started in real estate investing in the early 1980s and this is just about the same time TV infomercials took hold in America. The earliest leaches in this pond were guys pitching wealth through real estate investing. I can remember their TV spots as if I was awake and unable to sleep yesterday....
Ever wonder what happened to 1980s real estate gurus like Tom Vu, Dave Del Dotto, William McCorkle, and a host of other TV staples pitching their wares to insomniacs all across America? If so, this is your book.
By the way, none of them are still involved in real estate.
The Hall of Shame of creative real estate is long and getting longer. Ultimately the public and the legal authorities catch up with the con artists that steal people's dreams of financial security through real estate.
It is a simple and indisputable fact that virtually every creative real estate guru of the past has either filed for bankruptcy, gone to prison, has been shut down by the FTC or other law enforcement agency, or died broke.
Some have even been murdered by their own customers and business associates. That is how criminal, evil, venal, corrupt and PROFITABLE the sale of these get rich quick courses really are.
Funny how they can supposedly teach others how to make millions but can't make a legitimate dollar for themselves???
Today's crop of scammers is sure to join the list of old time favorites from Remy Stern's super book.
Creative real estate guru Joe Kaiser already has.
Unfortunately, I'm very sad to say John Beck may also be headed towards infamy.
I am currently working with Federal and state law enforcement agencies that are going to be sending a new pack of these charlatans to the dung heap of history very soon.
Anyone who is thinking about buying one of these get rich quick in real estate schemes advertised on the Internet or late night TV needs to read this wonderful book. Learn how desperate people just trying to build financial security for themselves and their family are separated from their money by criminals determined to make a buck at any cost.
And how you really don't need a $89 ab tightener anyway.
Robert J. Abalos, Esq.
www.investinginland.com
