I received the email below last night. It speaks for itself. Aside from deleting the real estate guru's name to protect the writer's identity I have made no changes to the text.
The guru in question is known to me. I would describe him as a "B List" guru. He is a frequent speaker at REIA's around America but virtually unknown outside get-rich-quick real estate circles. His products are sold online through his website. I never believed what he was saying was true and now I know it is false.
The author of this email spoke to me by telephone this morning and agreed to cooperate with law enforcement officials and the Federal Trade Commission in their investigation of get-rich-quick creative real estate fraud. I believe her claims of working with this guru and she gave me substantial information about him which I have confirmed.
I want to thank this woman for coming forward and contacting me. I feel it was an act of contrition on her part and I hope she feels better for doing so.
It is time to put these get-rich-quick creative real estate gurus out of business once and for all for all the harm they have caused, the money they have stolen, and the damage they have spawned all across the United States which law enforcement estimates into the hundreds of millions of dollars.
Time is running out for them. The noose is tightening every day. People like me who want to end their reign of terror over the real estate world need your help.
If you have worked in the creative real estate business, as an office manager for a guru handling their back office sales, or are a former real estate guru yourself, or are a customer who has been defrauded by these slimy real estate peddlers, please contact me at robertjabalos@gmail.com.
Robert J. Abalos, Esq.
*************************************************************
Read this
| Tue, Feb 9, 2010 at 8:48 PM |
To: robertjabalos@gmail.com |
| I have been reading what you write and everything you say about these real estate gurus is true. I know because I worked for one for about three years.
I worked for XXXXXXXXXXXXXX as an office manager. He actually did invest in real estate unlike some I guess and was a total slumlord. We were told never to respond to complaints from tenants about broken things because it was his hope that when they moved out he could pocked their security deposit. The stories I saw there were sad. One single mom with two kids had a roof fall in on this awful property and it took a complaint from the city to actually get the thing fixed. This guy bought every run down and garbage strewn property in the county. The more trash in the yard the better. He paid illegal aliens to fix these places up and even stiffed them from time to time. We were constantly getting sued and I had to deal with the sheriff coming to my door but he held these properties in so many trusts and corporations very few people actually got any money from him.
One day he announced he was going into the real estate information business and this work got added to my duties without any increase in pay. He bought or paid someone to write a course on lease options and some other investment topics and started selling them online and at seminar events sponsored by others. It was my job to ship the products and take calls from people wanting information on them. The idea that anyone could actually learn anything useful from his made us laugh in the office but he sold plenty of these courses. When sales numbers didn't match the previous month we were threatened with firing if we didn't sell harder on the phone.
I attended two seminars with him and worked the back of the room selling and handling the credit cards. I was sad so many people were buying these courses because I knew they were worthless but I had to smile and just thank them and encourage them to buy more. The other real estate speakers at these events all had assistants too and we talked before and after the event and they agreed with me that a job was a job but we were sickened by what we were doing to pay the bills. I saw lots of immigrants at these seminars and poor people paying on visa cards. I don't think any of these gurus actually knew what they were talking about. I know in my case the guy I worked for inflated everything he said and showed pictures of properties he did not own. Most of his real estate was falling down and dirty but all his pictures were shiny and new buildings.
I finally quit when the cops kept calling looking for him about this renter or that. We had lots of drug activity in our buildings and it was getting dangerous to even call people to pay the rent. But I also know he was making huge sums of money selling these courses and speaking events all over America and especially in the west and northeast where real estate is high priced. One bank deposit I made one day was for $33,000 in just course sales.
I feel disgusted at what I did and my part in all this. I hope the government shuts these con artists down because they are taking money from people who can't afford it.
Good luck. Please don't use my name because I still live in the town where he work |
|
I received the email below last night. It speaks for itself. Aside from deleting the real estate guru's name to protect the writer's identity I have made no changes to the text.
