Sunday, June 29, 2014

Real Estate Guru Drug Dealer



The depravity of real estate gurus should not shock me.  After studying them for more than thirty years I thought I had seen and heard it all.

A guru banned for life from the real estate industry due to court convictions selling home study courses on how to become a successful property investor.

A guru selling seminars on how to make a fortune with foreclosures who lost their own home in a foreclosure because they could not afford the mortgage payments.

A guru who gets young underage girls drunk at their seminars for the purpose of seducing them.

I could go on and on and on and on.  Trying to find an honest real estate guru is the equivalent of searching for a virgin in a whorehouse.

But this new story was unbelievable until I saw the evidence.

The facts run this way.

A major real estate guru was actually a genuine property investor.  In fact, they owned so many rental properties they opened a property management office where they handled their own rental units but also expanded into managing the properties of other investors.

Unlike what they said in their books and course materials, their properties were financed conventionally with normal down payments and regular mortgages.  No creative real estate hanky-panky or other nothing down nonsense.

So far, so good.  Congratulations I would have said.

But there was a catch.

The guru raised the down payments to buy their rental properties by selling cocaine out of their management office.

No, this wasn't some nice person selling grams of blow for his friends on the weekend.  This involved quantity and lots of it.  LOTS.

The only reason I'm not posting the guru's name and some of the documents I've seen is this guru stopped selling dope when they started peddling get rich quick real estate home study courses.  There is also no evidence they are still selling drugs.

Imagine that.  You can make more money selling nothing down courses and seminar tickets than cocaine.  At least this guru did.

Just amazing.  And despicable.

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