Posted by Valerie PA on August 07, 2001 at 09:41:24:
How are you?? Thanks for the info. I did see a few by Robert Allen and was wondering about him too. In fact, our library is very well stocked with REI books. It’s just a challenge to pick the right ones. Thanks again.
Wondering about Wade Cook? - Posted by Valerie PA
Posted by Valerie PA on August 07, 2001 at 08:34:21:
Can anyone give me their opinion of Wade Cook’s books and his investing techniques.
Re: Wondering about Wade Cook? - Posted by Michael (tejas)
Posted by Michael (tejas) on August 08, 2001 at 10:44:22:
His real estate info is very good and sound. His stock info doesn’t border on the ridiculous, it is ridiculous. Since his company became public, his company’s trading accounts became available. Using his own techniques he lost money! Alot of it. That should tell you something. The rising stock market of the last 10 years reminds me of the old adage: “Everyone’s a genius in a bull market.”
He is a hypemaster of the worst sort. He has gone bankrupt several times to keep from paying his debts,
and cheated business partners. Hopefully his stock strategy company will be put out of business by the several AG’s after him.
Wade Cook… - Posted by David Alexander
Posted by David Alexander on August 07, 2001 at 11:28:32:
has some of thye best fundamental education out there.
Before I found this site I read and still own virtually every book published by him.
Real Estate Money Machine is one of the reasons I’m here today.
It is a book about creating wraps and cashflow… Paper… and is very fundamentally sound.
Only today you do the same thing by buying and taking over property subject to as opposed to assumming mortgages, finding loan partners, or private money… or a combination of one or or all.
I also at one time used his stock techniques… never with any great amounts of money because I became side tracked and with paper and real estate. If you listen to his stuff on the stocks it works too.
Fact is most people hear half of everything they are told, usually on the dangerous half… lets make the money fast.
Take your time build a plan… hand out at this site , grab some books at the book store, and decide your path once you do grab a course or two learn more in that area… then Focus.
Re: Wondering about Wade Cook? - Posted by Sally
Posted by Sally on August 07, 2001 at 10:26:21:
He recently settled some deceptive practices/fraud charges in Washington state, see the link for the WA Attorney General news release:
Re: Wondering about Wade Cook? - Posted by Connie SoCal
Posted by Connie SoCal on August 07, 2001 at 08:56:15:
Steer clear. He is out to get your $$. He has a big ego, thinks his way is the best way/only way to make money. I thought his ideas were good, bought into his stock trading techniques, lost a lot of money, and wish I would have put all of that into Real Estate.
He started out in Real Estate but found he could make a quicker killing with the stock market without going through the pain of other people’s problems (delayed escrows, etc.). So he leads you to believe that you can make 1000’s of percent/year annualized yield on one trade. He likes risky stock option trading that if you win, you win big. However, if you lose, it’s gone! I know!
When Fannie Mae split 4 ways, he made a lot of money. I was in his seminar that day and tried a trade with it. It was good. AOL split, too. It was good. BUT there were a lot of others not so good. THEN you can only claim $3K losses on taxes per year!! HA!
I could tell you specifics, but why go there. I closed that chapter of my life and am sticking with Real Estate.
Don’t go to his BOOT CAMP for Real Estate! Instead, get a couple of courses offered here. It will save you tons of $$, and you can get “mentored” here on the message board by great people, and use that $$ savings on a deal.
In short: Don’t do it! But if you are curious, get one of his books at Amazon.com for cheap and read it to see what he is all about without spending a lot of your hard-earned money.
Re: Wade Cook… - Posted by Valerie PA
Posted by Valerie PA on August 07, 2001 at 12:22:57:
OK… I’ll read the book and decide for myself. My plans are complete but I continue to read daily and get different points of view and ideas. There are so many books out there on the subject of REI, it can be difficult to decide which ones to choose. I guess I’ll just read them all while making my offers and learning more! Thank god I am a fast reader! Thanks so much for taking the time to reply.
Re: Wondering about Wade Cook? - Posted by Valerie PA
Posted by Valerie PA on August 07, 2001 at 10:44:28:
WOW! Well, I guess I will find another book! LOL
Thanks for the information.
Re: Wondering about Wade Cook? - Posted by Valerie PA
Posted by Valerie PA on August 07, 2001 at 09:07:21:
I picked up his book “How to build a Real Estate money machine” at the library (free). I wasn’t sure about him so I thought I would go the library route. His ideas seem to be similar to what is discussed here in CRE as far as the REI goes. I have no opinion on his stock advice as I have not read any of those books, nor followed his stock investing advice. I’m sorry you had problems and lost $$ in the process. Thanks for your input and the heads-up.
In my opinion… - Posted by David Alexander
Posted by David Alexander on August 07, 2001 at 13:51:31:
his books harp on the fundamentals… which is the place I believe everyone should start.
If you dont understand the basics of business and investing… then you’ll have a harder time starting in the beginning…
There is a fine line sometimes…
Anotehr great book while your out there… The CashFlow Quadrant.
Robert Allen’s books - Posted by SusanL.–FL
Posted by SusanL.–FL on August 07, 2001 at 09:30:51:
You might come across some of Robert Allen’s books (in the library). They are all excellent. (Nothing Down in the 90’s plus many others). I’ve even found a few of his in used book stores too.