Robert Allens - Thoughts on Books?

[GoalsMagic]

Has anyone read the books by Robert Allen, 'No Money Down', 'Creating Wealth' and 'Multiple Streams of Income'?

I have just read One Minute Millionaire whish was great. Wondering if his Real Estate focused books are relevant to Australian market etc.

Regards
Rod

 

[Jamie]

Hi GoalsMagic,

Havent read them personally, but a fair amount has been written in the past on Robert Allen.

This link HERE is an interesting excerpt from John Reed's website... remember, however, this is just one opinion.

Here is a short clip from the site:

At best, you would have negative cash flow following his books. At worst, you would go bankrupt and wind up in jail. He doesn’t put it this way, but his nothing-down techniques almost all require you to mislead an institutional lender or take advantage of an unsophisticated seller or both. The president of his Atlanta Robert Allen Nothing Down Club literally went to federal prison (at Eglin AFB, FL) for doing illegal nothing-down deals. There is virtually nothing in his material about how to make a profit. Rather he simply assumes that real estate goes up so much every year that you need only buy it to cash in

Best wishes,

Jamie

 

[Mr. Fabulous]

Another thing about Robert Allen is that he actually went bankrupt himself, owing a few hundred grand in taxes. Is this the kind of guy you want to be getting wealth advice from? I think not.

Mark
'no hat, some cattle (but the herd is growing)'

 

[Jas]

One of the first books I read was Robert Allen's 'no money down'.

The thing I liked in that book was the graph on how you use equity to by more and more.

It was a simple idea, but the graph did a good job of explining it to me

Jas
(who's obviously a visual learner)

 

[EricK]

Rumor has it that he is now heavily into network marketing. Usana I believe. Same old story applies! Just do a little D D. (Due Diligence)

 

[D.T.]

Hi GoalsMagic,

I cant vouch that any of the posts above me are true or false. However, "Creating Wealth" was the first book on this subject i ever read, and it prompted me to keep reading / learning to get to what i know today, and where I'll be tomorrow.

Keep in mind tho, that its american and that america's rules are alot different to ours, hence their techniques have to be. This is why i now refuse read anything american (on investments). John Fitzgerald, Margaret Lomas and Jan Somers have written a few great books between them anyway.

-Regards

Dave

 

[Patosan]

Yeah I'm with Dave,

Robert Allen's "Creating Wealth" was one of the first books on property I read ... though it's not solely devoted to property. It has many good points however shortly after while visiting Oz I stumbled onto one of Jan's books in a quite country bookstore. There is no comparing the practicality and relevance to the Oz market.

Robert's stories are great but like most of the yank gurus, the system would be difficult even for Americans ... in Oz Jan and the wonderful people on this forum can help you with real practical examples and advice much much more.

Having said all that, he does deal with topics other than property which could indeed be of interest ... especially given the hot feeling in the Oz IP market now.

 

[Mr. Fabulous]

Patosan,
Have to agree with you on this point:
Robert's stories are great but like most of the yank gurus, the system would be difficult even for Americans ...
Mostly because most of his strategies are illegal. I imagine that illegality would make any strategy difficult, though! I too agree that reading O/S books on investing is time that could be better spent.
Don't mind reading O/S books (Buffettology and The New Buffettology are two of the best books I have ever read on investing), but if I had the choice between an Aussie and O/S book, I'd take the Aussie one everytime.

Mark
'no hat, some cattle (but the herd is growing)'

 

[Hunter]

What a good forum! Just want to say I love this place!

Had some doubts about Robert Allen.. but it is all clear now!
Thanks to all!!

Hunter

 

[ivi]

Free Robert Allen books incl. "Nothing Down"

Hello People,

Not withstanding the views on the subject of Robert Alllen I though this to be the best place to let you know about his promotion.

You can get two Robert Allen books for only paying the shipping price.

1) Nothing Down for the 2000s

2) The Road to Wealth

http://www.robertallenmedia.com/camp...rare/index.php

Caveat Emptor (Buyer Beware) - Naturally the will be an attempt to upsell and you will get a phone call from a consultant, be aware there is a free one month subscription to their forum with the offer. (I choose no to partake in this) there is a $29.95 US/per month membership fee.

None the less for about $7 US you get two books, worth reading.

All the best...