Robert Allen
Program review by Merle Braley, Internet Marketing Advisor★☆☆☆☆
Robert Allen Review -
Robert Allen has written a number of books on investing in real estate. He gained some notoriety by his books and lectures on no money down and some see him as a pioneer in this field.
His recent seminars and books in my opinion are dated and filled with inaccuracies and material that applies only to California and more specifically to Los Angles County. So, it’s questionable if the teachings of Robert Allen have any real money making application once you actually take them outside the Seminar rooms.
Although there’s a money-back guarantee offered by the Seminars, everyone I’ve talked to about this guarantee says it’s next to impossible to collect on the guarantee. Robert Allen says that you can’t have a refund until you have made some type of documented effort in a certain specified amount of time. He says you must first apply the course methods with unsuccessful results before a refund will be granted. I’ve read reports on the Internet from several students claiming they were still not issued a refund even after making a documented effort to show the course did not work for them.
The reality is that only after people buy the courses or attend the seminars do they realize the amount of work required and just drop the whole thing. So they don’t get the required documentation to allow them to get a refund, or even if no documentation is required they just don’t want to hassle with the thing anymore so they just don’t apply for a refund at all. But, that’s the case with so many business opportunities that attract those who are looking for a get rich quick scheme.
I’m told that Robert Allen and/or his seminar company filed for bankruptcy several years ago as a protection from ever having to make good on the backlog of refund requests.
The investment approaches that Robert Allen typically teaches, usually involve buying “distressed” properties at discounted prices. “Distressed properties” are properties in pre-foreclosure, properties from estate sales, owners going through divorce, or other must-sell factors. Investors often look for distressed properties that they can buy at 70% under market value. So, it’s easy to see that someone could easily recoup their investment and then some in Robert Allen’s seminars and books.
On the other hand, it’s easy to see how someone could easily end up in financial disaster following Mr. Allen’s advice if they made a mistake with determining the market value, or costs to renovate, or local economy. I think we are seeing the effects of Robert Allen type of approach to investing in real estate which assumes that real estate values always rise. Well folks, sometimes values decline. Foreclosures are at an all time high.
In my opinion, you could end up with a negative cash flow following his advice. You would go bankrupt. You could loose your home in foreclosure. You could wind up in jail. Many of his nothing-down techniques are ways for you to mislead an institutional lender or take advantage of an unsophisticated seller or both.
I understand that the president of the Atlanta Robert Allen Nothing Down Club literally went to federal prison (at Eglin AFB, FL) for doing illegal nothing-down deals. He read the book and got the book thrown at him!
Robert Allen himself got into financial problems with the IRS in 1984. Thenn, in 1986, the IRS filed a $346,395.79 lien against Allen.
So much of Robert Allen’s story makes him seem like he’s selling Snake Oil. And with his newer books promoting Multiple Streams of Income it’s only fitting that it include multi-level marketing of vitamins. Let’s face it, everything that Robert Allen does is all about Robert Allen and how Robert Allen can become more rich and famous.
I attended one of his seminars, and have his course materials and books in the basement. They should have gone to re-cycling a long time ago.
If you have had any experience with Robert Allen, his seminars, or his Ultimate Real Estate System, or any of his other programs and would like to contribute to this review please enter your comments below or record your comments on the 24 hour recorded message line.
Thank you
Review by Merle Braley
After reviewing scores of home-based business opportunities, Internet marketing, and so called marketing gurus, you can guess I’ve learned what works and what doesn’t. Click here to see how I make money…
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