Controversial Gurus, J.T. Reed, C. Sheets, M. Warren and Others. - Posted by JA-FL
Posted by JA-FL on November 20, 1999 at 07:30:19:
Re posting 11/19/99 by Chris on “C.S. not my cup of tea”
We agree with your analysis of the Gurus you saw at Wealthbuilders REIA. Fortunato, Napier and LeGrand, at least, certainly seem to be well qualified and are, or have practiced what they preach. REIAS, are or should be a great source to filter out some of those who are not so great or may be doubtful. Most are. We used to be a member of Wealthbuilders, but now prefer the non profit type of REIA. At one REIA, where M. Warren was to speak, we told of our experiences with him, and were then advise if we brought it up at his appearance, we would be the one that was “denounced”. That kind of makes you question who is on whose side?
In reply to your question, we use the term we, most of the time since there are more than one of us involved, and a just natural tendency to refer to yourself in the third person.
In reply to your question on M.Warren, did we sign up for his bad debt program and not like it? Yes we did. It was at a Ron LeGrand yearly conference where he spoke. His Bad Debt and Judgement and Lien Seminar Package cost $2,400.00. We did not find anything in it that we hadn’t already learned or could learn at the County Court House. When we asked for a refund, he wouldn’t do it. In addition at the J&L Seminar, we and three others invested in his turn-key package 100% unconditional all money back guaranteed ATM program to the tune of a total of $200,000.00 for the four. We were led to believe that the profits would be approx $3,000.00 per mo, per unit invested. It made absolutely no profit for anyone but him, and he he has not refunded a cent to us. There is a District Attorney Investigation on going. How could that happen, you may ask? (We did our due dillegence at the time and found nothing on him, we did not know about the J.T. Reed Site, over a year ago). You may now understand better why we are such a advocate for sites like this and Reed’s and others that show both sides, or as the NaREIA has at their conventions a separate session on Gurus and other R.E. items, called “The Good, The Bad and The Ugly”. We hope relating this experience will encourage all investors to check out any Guru thoroughly from both sides before you invest, then take it all and make your own informed judgement. Since hind-sight always seems to be 20/20, obviously we didn’t look as much as we should have. If any one else has had an similar, but hopefully less expensive experience, please post. Thanks.