Tuesday, December 29, 2015

The Incredible Secret Money Machine


A reader of this website recommended a book to me I had never heard of before.

THE INCREDIBLE SECRET MONEY MACHINE by author Don Lancaster.

I got a copy, I read it, and I loved it.

I was going to write a detailed review of the book but someone already had.  Great synopsis.

Originally written in 1978, the book details what today is called a "side hustle" or making money on the side other than a full time job and investing the proceeds in other income producing assets like real estate.

This strategy was the quintessential "get rich SLOWLY" approach of real estate gurus in the 1970s and 1980s.  Build income, build cash savings, and then buy properties for long term gains and pyramiding opportunities.


Another great example of this approach is Dave Del Dotto's still exceptional book, HOW TO MAKE NOTHING BUT MONEY from 1989.

I highly recommend both these books above for people who want to invest in real estate the smart, efficient, safe, ethical, and responsible way.

1.  Build cash flow through side hustles other than your full time job
2.  Save your money
3.  Buy bargain priced real estate
4.  Improve what you buy to build equity
5.  Hold, refinance, or sell for profits

The real estate gurus of today teach little more than disguised foreclosure rescue fraud.

AVOID THEM.  Go with the classics.

Thanks for the book recommendation.  KEEP THEM COMING!

Monday, December 21, 2015

Carl Icahn and Pep Boys

Those of you who took my advice on Pep Boys as a real estate play years ago are doing better and better these days.

Carl Icahn announced a takeover bid for the company today.  It's in play, people!

Counteroffer, anyone?

Monday, December 14, 2015

George Plimpton


A reader of this blog asked me how the new Investing in Land website will differ from the old.  A good question.  Right now I only have a two word answer.

George Plimpton.

Study his life and have fun.  We will, just like he did.  Watch his biography on DVD for some clues.

Website will launch on March 1, 2016 or sooner.  Stay tuned for more details.

Tuesday, December 8, 2015

Guru Freebies


Real estate gurus offer all sorts of "freebies" and enticements to come to their FREE introductory seminars.  Lately, the cornucopia of stuff is extreme.  Cell phones, computer tablets, hotel vacations, memory sticks preloaded with course materials, libraries of books, CDs and DVDs, you name it.  All are usually given ridiculous retail price valuations to make these sweeteners seem way more valuable than they really are.  A one GB thumb drive loaded with some PDFs for $199.95?

One reader of this blog had an incredible offer for me.  I'd only need a time machine to use it.


Sometime around the year 2007, real estate guru Robert Allen of Nothing Down fame was offering FREE introductory seminars pitching his new Enlightened Wealth Retreat.  The value of the free ninety minute come-on and seminar pitch was, get this, drum roll please....

$3,995.  (Check out the fine print on the tickets above.)

Yes, an hour and a half with a Robert Allen trainer (not the man himself) was being valued at a Big Mac meal short of four thousand bucks.

Also note this reader was given three tickets or nearly $12,000 in "value" for just coming to a cheesy hotel ballroom and listening to a sales pitch for a $7,995 real estate wealth building and passive cash flow generating program.

Wow!  What a deal!

Most attendees did not think so.  Here is what one person unfortunate enough to pay the nearly $8,000 for the Enlightened Wealth Retreat had to say.

Robert Allen is still at the real estate guru game, BTW.  He's the current winner of the Most Overvalued Guru Freebie in Real Estate Guru History.  And in case you think I was going to bash him, I'm not.  His Multiple Streams of Income book series is excellent and so are his books, Creating Wealth and The Challenge.  All are available for one cent used on Amazon.com.

If you have another candidate for the most overvalued guru freebie, please let me know.  Thanks to Dave in Salt Lake City for the tickets.  They are now part of my collection.  A mere photograph would have been enough....

Friday, November 6, 2015

For Sale American Paradise


Far too many real estate books are just plain boring.  Perhaps it is necessary sometimes given the nature of the subject matter---but not always.  Most times boring books are explained away by the simple fact they were written by boring authors.

FOR SALE AMERICAN PARADISE by author Willie Drye is about as far away from dull and sleep inducing as any book could possibly be.

This is the amazing story of real estate investment and speculation in Florida during the 1920s.  From the boom to the inevitable bust.  It reads like a Who's Who of America during the Roaring Twenties as everyone, and I mean EVERYONE, flocked to the Sunshine State to make some money.  The list includes The Marx Brothers, Al Capone, Thomas Edison, and even political firebrand William Jennings Bryan.  And, of course, there were the millions of little people, the average citizens all over the country who believed the sky knew no limits and everyone could cash in on this new glorious frontier.

I could not put this book down.  The author's research is exhaustive and this work does not read like a novel.  Instead, the facts and details simply overwhelm the reader into thinking "How could anyone ever have thought any of this was really true?"  A truly unique writing style.  The author's extensive notes on sources run from pages 236 to 281, in other words, 45 pages of footnotes.  Put another way, nearly 20% of this entire book is detailed research for the other 80%.

This book is fun, exciting, sad, thought provoking, unique, and most of all from a real estate perspective, educational.  You see how real estate bubbles are born and die.  The spirit of innovation which gives rise to them, the greed which ultimately seizes control and spins them into chaos, and the financial carnage and destruction which is left in their wake.

A MUST READ real estate book.  Just awesome.  As a real estate writer I applaud Mr. Drye for his extensive research and how well he used it all.

Friday, October 30, 2015

Pep Boys Update


I wrote this post on the Pep Boys automotive chain in 2012.  I called it a common sense real estate value play on all their store locations.  When I wrote my article Pep Boys (ticker symbol PBY) was trading for $8.29 per share.

Bridgestone has agreed to buy Pep Boys for $15 per share.

If you followed my idea you earned a 68.72% return in about three years or 22.9% per year.  Not a bad return for a token price which really amounted to a perpetual call on the company's stock.  In other words, buying a LEAP call on PBY with no expiration date.  Quite a safe and tidy investment.

Thanks Manny, Moe and Jack.

Monday, October 26, 2015

Real Estate Guru


I am seeking the etymology of the term "real estate guru."

In other words, who invented the term?  When was it first used?  It's a common phrase and I have found some early uses dating back to the 1950s but I do not know the origin of the term.  I need a more precise history for a project.

Readers of this blog have been quite helpful supplying me with information.  I am hoping my readers come through one more time.

Any information on this topic would be much appreciated.

Please email me at robertjabalos@gmail.com.

P.S.  The photo above is of William Safire, the master of etymology.

Sunday, October 4, 2015

Homeowners Associations


The latest and most egregious example of homeowners association ("HOA") abuse.  (On a daily basis I could pick many.)

A homeowner cannot fly an American flag on her own home even when her neighbors say is it fine. When an overflow meeting is called by angry residents to address the flag rule, the HOA cancels it at the last minute.  The homeowner is still looking at $75 fine for the HOA violation and has vowed not to take down Old Glory.

The lesson here?

NEVER NEVER EVER buy an investment property with a HOA.

You lose virtually all control over your investment. Period.

Most HOAs are not well run, in fact, it is amateur hour at the vast majority of them. Even when the HOA members are well intentioned (a big if) things never happen like you planned.  Costs rise faster than anticipated due to a lack of competitive contract bidding and even cronyism.  Wacky HOA members are elected who believe they are in the incarnation of Stalin.  Maintenance is deferred by homeowners on the HOA who are selling their properties soon so future buyers can pick up their repair costs.  The list goes on and on and on and on....

Sad when the Stars and Stripes are controversial anywhere.  Dumb HOA.

Tuesday, September 29, 2015

Carl Icahn Danger Ahead



Absolutely brilliant analysis by one of Wall Street's greatest investors, Carl Icahn.

Don't believe me.  Believe Carl.  We have been saying the same things for months now.

Enough said.  Watch the video.

Saturday, September 26, 2015

Cabin Lessons


Far too many real estate books are hypertechnical or filled with jargon and legalese making them hard to read.  It gets boring fast slugging through a CPA's fantasy of endless IRS code sections or examining blueprints and engineering plans seemingly written by a nerdy scientist.

The new book, CABIN LESSONS, by author Spike Carlsen is NOT such a work.

I absolutely LOVED this book.  It's a personal tale of what happens when a married couple decides to build a small cabin on Lake Superior.  An updated 21st century version of MR. BLANDINGS BUILDS HIS DREAM HOUSE.

This story is filled with charm, humor, wit, adventure, fun, and most of all, love.

Yes, it is also crammed with LOTS of technical and practical advice for do-it-yourselfers on everything from finding and inspecting land to actually building a home step-by-step.  But it is the wonderful readability of this book that separates it from so many in the marketplace.  This work reads like a novel more than a real estate investment guide---which it clearly is.

You get to know these people and cheer them on towards final victory.  You live their daily ups and downs, their mistakes, and their victories.  Not exactly a common theme in most real estate texts.

I highly recommend this book.  Informative, packed with money and time saving advice, but also a real testament to a once in a lifetime odyssey from people you wish lived next door to you.

Uplifting and enlightening.  What more can you want?

A real big thumbs up.  One of the best real estate books I have read in a long, long time.

Wednesday, September 16, 2015

Cash Flow Forever


Real estate books generally come in two categories.  "Newbie" books for novice investors who know virtually nothing about the industry but want to learn more and more advanced texts which deal with the specifics a professional and experienced investor might want to know.

CASH FLOW FOREVER by author Jeff K. Johnson fits perfectly into the first category.

This book is one of the most basic primers on real estate I have ever read.  If you have a friend who has never invested in properties before but wants to learn the ABC's quickly and simply, CASH FLOW FOREVER is just about ideal.

Experienced investors may pick up a tip here and there but their interest will not be sustained over the 236 page book length.

I found this book easy to understand and readable, not filled with technical and confusing jargon but common sense solutions to basic problems and simple answers to simpler questions.  It is quite effective on this rudimentary level.  But do not think there isn't a great deal of substance here.  The advice offered is real, practical, effective, LEGAL AND ETHICAL, and often quite imaginative.

My only quibble with the book is its subtitle.  THE REAL SECRETS OF REAL ESTATE INVESTING.

There are no "secrets" in the real estate world.  Period, end of story.  There is only information you just have not learned yet, hardly a secret really.  I have objected to the use of the word "secret" in the real estate investing context for years since it suggests a cabal of investors are keeping the general public away from their keys to real estate wealth.  It's just not true.  Not knowing a fact does not make it a secret, it just means you have more to learn.

A great alternative subtitle here would be "The Real Truths of Real Estate Investing" because this is precisely what is offered here.

With that tiny teeny weeny exception aside, I would highly recommend this book to any novice investor who wants to learn the absolute basics about real estate, especially if they can't decide to buy properties versus investing in stocks, bonds, or other assets.  CASH FLOW FOREVER is a readable and informative book definitely worth the price.

For the record, I was given a free copy of this book for review purposes.

Tuesday, September 1, 2015

Parklets


One of the dumbest ideas currently raging across Seattle (and surely headed to a city near you) is the idea of "parklets" or converting parking spots and roadways into tiny little urban parks.

Here is the official City of Seattle website page on parklets and its gastronomic equivalent called "streeteries" or converting parking spots into dining spaces.

The idea is to provide urban residents with new park spaces.  Of course, the City of Seattle already has FOUR HUNDRED PARKS comprising 6,200 acres of parkland in a space just 142 square miles wide but who's counting?

The notion ANY congested city like Seattle with a fixed infrastructure space anticipating 120,000 new residents over the next twenty years would intentionally destroy valuable parking spaces and roadways verges on insanity.

But as my Twitter hashtag notes #WelcomeToSeattle.

Aside from the obvious transportation issues, here are some other problems with parklets not ever mentioned once, and I mean ONCE, by the local Seattle media.

PARKLETS ARE DANGEROUS

Using a parklet literally means you are sitting in a roadway with cars whizzing past you at 30 MPH with virtually nothing between you and death.

Each parklet is separated from oncoming traffic by pretty flower boxes and white traffic markers, much like these two new parklets which can found in the hipster (and very expensive for renters) Capitol Hill district of Seattle.






See the pretty planter boxes?  Each gives the illusion of protection.  They are made of plastic, not concrete.  None are bolted down and all are held in place by about a hundred pounds of soil.  The white posts you see are bolted into the roadway but are made of plastic and bend on a spring.


Any car careening into a parklet would run right over everything in its path and easily exit the other side.

Notice this parklet was placed on a sharp curve and how closely the cars come to the flower boxes.






Sitting in a parklet with your back to traffic is suicidal.  It is just a matter of time before a drunk driver or a psychopath drives right through one.  Sounds incredible but a drunk recently did the very same thing at Seattle's Pike Place Market just two weeks ago.

One other obvious danger to parklets is a serious trip risk.  Notice all the steel cables holding down the chairs and tables so no one (without a bolt cutter) can steal them.  Slip-and-fall lawyers across the city just can't wait for the first broken hip or fractured skull.


PARKLETS ARE EXPENSIVE

The parklet above just a few weeks ago was SEVEN parking spots.  Each spot sells on the meter for $4.00 per hour.  Each meter day is twelve hours (8:00AM to 8:00PM) so this parklet costs Seattle $336 per day in lost revenue.

$9,408 per month lost. (Sundays are free so only six days per week of revenue.)

$112,896 per year.

And this is just one parklet.

Parklets need to be maintained.  For example, who empties this garbage cans in the pictures?  City workers, that's who.

Parklets need to be built.  According to the workmen I spoke to building this parklet above (the curved one), the cost was about $40,000.

Sounds high?  Not really.  Recently the City of Seattle painted crosswalks in its Capitol Hill neighborhood rainbow colors for the Gay Pride Weekend and parade.  Cost to paint each crosswalk was $11,000.

Yes, $11,000 to paint a crosswalk.


PARKLETS NEGLECT REAL CITY PARKS

Seattle has many gorgeous parks but no money to maintain them.  Many are deteriorating and filthy, filled with vagrants and drug addicts who use them as campgrounds and toilets.

Here is a beautiful small park near two major historic properties about halfway between the two parklets photographed above.  Notice the dirty park sign, the vagrant urinating on a bush in the park and the two groups of drug addicts with their shopping carts and packs getting high in the background.




How about this novel and creative idea?  Before building new parks why not maintain and improve the parks you already have?

I could go on and on and on about parklets but why?  This is the Seattle media's job, not mine.  They get paid to investigate but instead they cheerlead and reprint press releases received from City Hall.

But most of all, parklets obviously destroy property values by denying owners access to the very sidewalks outside their properties.  Your customers get to park their cars blocks away instead of at your curb.  Handicapped and elderly residents can walk a distance, right?  No need to accommodate the disabled.  Your business loading zone just disappeared.

And the best part of parklets for real estate owners is a sure kicker.  Every parklet is built with the proceeds of a special real estate levy on all Seattle property owners.  $146 million in total from 2009-2014.   A $450,000 home in Seattle pays $80 per year for this nonsense.

One last important point.  NO ONE USES PARKLETS.  Notice in all the pictures above not one single person is sitting at all those tables and chairs.   And these photos were taken on a sunny day, not in December or during a rain storm.

Honestly, look at the pictures above and ask yourself would you sit there?  These parklets are less than one month old and already are filthy and covered in grime.

Tuesday, August 4, 2015

Rats in Seattle Update


I wrote about the exploding rat population in Seattle in this blog just about six weeks ago.

Now the major local press is focusing on the rat epidemic in Seattle.  Here is an article from the Seattle Times giving lots of statistics I did not know when I wrote my original piece.


7th worst city in the United States for rats. (Sorry, Big Easy.  You are #1.)

2% of all homes in the city officially report rat infestations each year, or more than 28,600 complaints.

When you live in a city where you see huge giant rats nearly every day of the week there is a problem for pedestrians.

You can just imagine the huge problems all this is causing for real estate owners, property managers, and investors.

Wednesday, July 29, 2015

He's a Fraud, Claims Wife of Famous Real Estate Guru


Mr. X has been a real estate guru for more than twenty years.  He claims to have made millions of dollars as an investor and property flipper.  His recent advertising claims he flips "300 properties a year" or literally more than one house or building each business day, month after month, year after year, for decades now.

There is no doubt Mr. X is a very, very, very successful real estate guru.  He has filled arenas, auditoriums, and the Internet with sales pitches and merchandise for decades and has probably made tens of millions of dollars selling get-rich-quick home study courses, workshops, and boot camps.

There's only one problem Mr. X has going forward as a real estate guru.

His own wife says he is a con man and has publicly stated his claims of real estate success are all lies.

The situation is simple.  Mr. X is getting a divorce and his wife in official court documents is making some stunning claims about her soon-to-be ex-husband.

I don't really care about the reasons behind the divorce.  (Adultery, physical abuse, emotional cruelty, and irreconcilable differences.)  There is lots of juicy tidbits there but even real estate gurus get divorced.

What is just AMAZING are her allegations versus Mr. X's real estate guru empire.  And she should know.  She served as his business manager for many years.

Just some of the allegations include:

  • Using friends, relatives, and business associates as recommendations in advertising and sales promotions.
  • Showing photographs of houses and buildings which Mr. X claimed to own which he never did.
  • Fabricating documents and evidence to prove Mr. X made huge sums of money on real estate deals.
  • Mocking the purchasers of his real estate courses and products, calling them "first class idiots" and "suckers born to be fleeced."
  • Lying to regulators about certain sales practices at his companies during a prior investigation of Mr. X's guru operations.

There are more than twenty paragraphs of fraud allegations in just the few court pleadings I have seen.  The above barely scratches the surface.

Hell hath no fury like a woman scorned is the motto here.

According to what I have learned Mr. X had an affair with a woman he met at one of his seminars.  (Incidentally, this is more common than you think.  Gurus hit on chicks all the time at these events.)  When Mrs. X learned of the affair, Mr. X denied it until he was caught red handed, or as lawyers say "in flagrante delicto."

So Mrs. X is now on a scorched Earth path of revenge, content to kill the golden goose laying all those eggs just so Mr. X and his new girlfriend cannot enjoy them.

I'm not revealing who Mr. X is just yet.  People in divorce proceedings often say the worst things about their spouses.  (Ask Donald Trump this week.)  Sometimes anger and personal pain cause exaggeration.  So the absolute truth is not known at the present time.  But everything I learned here from Mrs. X under oath confirms everything else I have suspected about Mr. X for years.

If it walks like a duck, quacks like a duck, and looks like a duck, it usually is a duck.  But now I have proof, however accurate but certainly informed and independent, Mr. X actually is a duck.  Good to know.

More to come.


Sunday, June 28, 2015

Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc.

Much has been written about the impact on "wealthier" communities and real estate values after the case of Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. decided by the U.S. Supreme Court this week.

Aside from all the hyperbole on both sides of the case, this is by far the best analysis of the decision I have read.  Just superb.

The impact of this decision will be measured in the months and years ahead.  My gut reaction tells me the plaintiff's bar will love it.  Christmas arrived in June.

If you are a real estate developer or property owner who builds or rents housing in "wealthy" neighborhoods, you need to discuss this case with your lawyer.

Sunday, June 21, 2015

Rats


One of the features of the new modern walkable urban city is unintended.

A large and rapidly growing rat population.

Urban density means more people per square mile.  Density has the same effect on rat populations.  More people, more rats.

Downtown Seattle is overrun with rats.  Seeing these rodents is nothing new for city dwellers.  But the numbers and sizes of today's rats is stunning, some as large as small dogs.  I am not exaggerating.  Check out the size of this rat.


Here is a news report on how bad the problem is in Seattle's Belltown neighborhood where Pike Place Market and the Space Needle can be found.  By the way, tenants pay an average $2,700 a month for a two bedroom apartment here.



The best evidence of the growing rat population is not seeing the actual creatures who are mostly nocturnal and great at hiding from predators---like you and me.

Instead, it is the proliferation of rat traps placed EVERYWHERE.  I took these photographs in a single day on a single walk in downtown Seattle.  Believe me when I say I could have taken many, many more.








Trying to control rat populations with traps like this is the equivalent of emptying Lake Erie with a teaspoon.

Politicians do not like to talk about rats.  Rat extermination programs are always underfunded.  Can you imagine a mayor running on a platform of more money for rat control?  But the subject of rats is not discussed because it is the "green" decisions of city managers to emphasize composting of food waste and recycling programs over quick and effecting trash pickups which are causing this explosion in rat populations.  Here is an article directly attributing Seattle's rat problems to the city's own recycling program.  If the mainstream media finally gets it, you know the problem is much larger than they claim.

To those advocates of high urban density, just remember where lots of people go, rats follow.  And people also do not want to spend $1 million for a 1,200 square foot condo when rats are part of their daily life.

Tuesday, June 16, 2015

Alleys


Alleys between streets and buildings serve important public works functions.  They literally provide air and breathing room for tenants, bringing in light and breezes to stuffy apartments.  Delivery and garbage trucks use them for pickups and drop offs.  Drivers use them to save time and gas by eliminating one way streets and stop lights.

But others use alleys too.

Homeless people use them for toilets and sleeping.  Drug addicts use them as shooting galleries.  Prostitutes turn tricks in them.  Street criminals use them as ambush points where innocent people are beaten up, raped, stabbed, and shot in them.

Alleys, an important feature of any urban landscape, had become a menace.  Dangerous, smelly, and nasty places.


So the city of Seattle came up with a brilliant idea.  Let's close the alleys to traffic and pedestrians and actually make walking or driving down an alley a crime.  Not all the alleys in the city, but only those with a past history of problems.

The logic was simple.  If drug addicts, prostitutes, street thugs, and the homeless could not get into alleys, they could not do mischief in the local area.

So the alleys were closed with big signs and even bigger warnings.  Here is one example in downtown Seattle near the major intersection of 3rd and Union right across the street from Benaroya Hall, home of the Seattle Symphony.



Without even knowing the whole facts, what do you think happened next?

Did the prostitutes go straight and get real jobs since they had no place to "work"?  Did the drug addicts seek out rehab treatment programs when their favorite place for heroin and meth addiction relief was taken away?  Did the criminal class just throw up their hands and surrender in the face of this attack on their real estate?

Of course not.

All the crimes, filth, urination and defecation, and shooting up is now done in PUBLIC.  If the alleys are closed, then just go into spaces which are not.  Like building doorways, parking garages, public parks, and actually in front of the alleys and their warning signs.

Criminals and drug addicts may be societal defects but they are not always stupid.  Unlike the city of Seattle which somehow believed this new program would work.  Now take your kids to a public park and you can see, if you are unlucky, an addict shooting up between their toes or two junkies arguing about a drug deal gone bad.  Public urination and defecation in Seattle is on the rise like in this "hot" tourist neighborhood Pioneer Square complete with many alleys.

Seattle has big plans for its alleys.  Some it wants to turn into public spaces for street parties and tourists.  Read this article and look at the photographs.  Would you go see a movie in a crowded alley?

Alleys are supposed to be functional spaces, not recreational ones.  When alleys are closed, traffic and deliveries are shunted onto public streets.

If you want to rid a city of prostitutes, junkies, vagrants, and street criminals there is a better way.  It's called the criminal justice system.

Wednesday, June 10, 2015

Product Pitch Fest


I find it hysterical creative real estate gurus now need to market their get-rich-quick seminars as "educational events" and clearly say in BIG BIG letters

THIS IS NOT A PRODUCT PITCH FEST

It is quickly becoming clear to me the last generation of real estate gurus may have killed the golden goose for get-rich-quick seminars for at least the next generation or two.  The days of easy money for the gurus, just showing up at some cheesy hotel ballroom and having newbies open their wallets like sheep led to slaughter are over, thankfully.

Marketing data must be telling the gurus people don't want hard sales pitches at these events, especially after paying $597 per person just to get in the door.


Watching the slow disintegration of the get-rich-quick industry is much like seeing a large ship sink into the depth of the deep black ocean one inch at a time.  The problem of course, to mix metaphors, is cornered rats are extremely dangerous.  The gurus have already started turning on each other and the public will inevitably get caught in the crossfire.

By the way, there are some really good speakers at this event in Las Vegas including Jimmy Napier and Jay P. DeCima ("Fixer Jay").  I'm a fan of both men and highly recommend their books.  (Other speakers at this event aren't so good, sorry to say.)  I wish the promoters of this event luck---assuming it REALLY is not a product pitch fest.

Wednesday, June 3, 2015

Guru Cheating Guru


In what I hope quickly becomes an Internet sensation, one very well known East Coast based real estate guru is now suing his former partner, a lesser known but still quite famous West Coast guru, on the basis of "fraud, embezzlement, theft of trade secrets... and client lists, and...other types of larceny."

His partner, proving the axiom there is no honor among thieves, has filed a counterclaim arguing virtually the same causes of action.

I am not getting involved in this crossfire, at least not quite yet, which explains why I'm not naming names or posting PDFs of pleadings.  But knowing each of these gurus and their work for years does not surprise me each would cheat each other.  After all, both cheated the general public for years selling worthless get-rich-quick home study courses.

Apparently, these two lovebirds decided to sell courses and do seminars together and did so for a number of years.  But the partnership soon dissolved over personal issues including "excessive drinking of alcohol at sponsored events...and other functions" and, get this tidbit, "inappropriate sexual advances to female seminar attendees, event workers, and hotel staff."

I'm hoping the media picks up this story.  I'm going to nudge it slightly along to put my thumb on this scale.  A good lurid tale exposing the sordid underbelly of the real estate guru world will make great reading.  I can't wait for civil discovery on this one.  It's not quite Spy v. Spy but Guru v. Guru will do.

Thursday, May 21, 2015

Professional Squatters


Follow this case of professional squatters making life hell for landlords near Silicon Valley.  Absolutely amazing to behold.  Professional squatting is also a trend which is growing nationwide---for obvious reasons.

You can even learn how to become a professional squatter online.  Nice, eh?