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Robert Allen is a "no fly zone". Consider him, his company, his seminars, his books, and anyone associated with promoting him as dangerous to your wallet and your integrity. Like I’ve said before, and will unfortunately say again, there are the good, the bad, and the ugly in every profession. Robert Allen is the ugly in the real estate road to riches.
What set Robert Allen apart from Carlton Sheets and Robert LeGrand was his novel, but legally questionable notion, that real estate, especially distressed properties, could be purchased with no money down. Maybe it’s legitimately possible and maybe it’s not. All the real estate I’ve ever owned came with a required down payment.
However, Robert Allen was hawking something new, and he sold seminars at thousands of dollars to unsuspecting prospects. My sources tell me that the useless information they received wasn’t even applicable to their hometown or state. Even though Robert Allen guaranteed your money back if his words didn’t produce wealth, getting it back was virtually impossible, especially after the Robert Allen seminar division filed bankruptcy. Subsequently, when Robert Allen got in hot water with the IRS to the tune of over $300,000, I quit following him.
If you must get involved in real estate, please do so. Don’t be swayed by the emotion of powerful infomercials or seminars. Start with your local library and read. Learn your real estate market. And, if anyone suggests Robert Allen as a reputable source, please remember that jail time won’t be pretty, and with his methods you just might end up there. Call me if you have any questions regarding who has had this experience.
So, move on. Check out Carlton Sheets and Robert LeGrand. Personally, I don’t recommend real estate. It’s just too much work.
