I am a recently licensed agent in Texas. I heard an ad on the radio for a three day real estate workshop, I called and registered to attend.

The workshop is a Robert Allen Multiple Streams of Income event. The web site is here: http://ewireg1.com/

Has anyone here been to one of these workshops? Is it worth me spending 9 hours a day for three days to be there?

Absolutely not.

This is a case of P.T. Barnum's famous quote of "there is a sucker born every minute." This stuff has failed for decades. Yet, every year, a whole new set of folks get sucked into it.

Mr. Allen has been around since the '70s. He is the father of the "nothing down" approach to real estate. Techniques like seller carry-backs, undisclosed seconds, signing over a property with an existing mortgage, etc.

Much of it is called "creative financing". A significant portion today is called loan fraud. At the very least, it is not nearly as easy or inexpensive as people think. Particularly with lenders really increasing the requirements of investment financing (much higher downs, stricter qualification standards).

The true purpose of this event is to get you to buy other materials: Kits on things like short sales, foreclosures, etc. Coaching. Other "business opportunities".

It is all garbage. Yet, if you go, you'll see all kinds of folks caught up in the hype and buying stuff. Sad. Very sad.

Here are a few links on Mr. Allen:
http://www.johntreed.com/Reedgururating.html#anchor496881
http://www.onlyreviews.com/robertallen.html



What is really sad is that the folks who attend will think they've learned the "secrets" to making money in real estate. They'll then ask local agents to make ridiculous lowball offers with all kinds of "creative financing". These folks are an utter waste of time. And, after awhile, most of them will figure out that they have been misled.

My girlfriend saw this guy on TV, I think...an infomercial. Bought one of his books, asked me to read it and tell her if it was legit.

It is very persuasive...well written But ultimately, yes, it's snake oil, really.

If real estate were this easy, then we'd all be doing it. Trust me.

First clue that it's a rip off is the link for "Find out how 10 of my students made ten million bucks in three days" (or it may as well be as exaggerated as that...I realize I'm using a gross exaggeration of the quote, but it's just as ridiculous than the original...lol)

Selling information is a big business,some people are too stupid or too lazy to find out things for themselves or they have more money than common sense(the money came from an inheritance,settlement claim,winning the lottery etc.)

All people do is package free info into a shiny box and sell it as some revolutionary thing and people by this crap.really sad

Thanks for all of your replies. I had a "feeling" it would be a huge sales pitch for other products and services.

As a motivational tool only... I LOVE his CD book the "One Minute Millionaire". I don't think the book "Multiple Streams of Income" is bad either, it opened up the world of Options trading to me, which is a great way to take an extra $30 and turn it into $300 through the power of leverage. The power of leverage is what most of his books are about. Definitely, nothing wrong with that, just don't pay more than $30 to learn about it.

Other than real estate investing, I love his ideas. Try and look for his books at your local library.

W.O.T.