Posted by Jimbob on December 12, 1998 at 09:04:20:
Dave Del Dotto has recently surfaced with a new front, it’s called National Housing Alliance or something like that. I was around in the Del Dotto heyday in the 1980’s, I bought most of his materials and went to most of his seminars. Like so many other infomercial Guru’s, Dave never came through on his promises to people. I will say that out of all the people I’ve seen, and I’ve seen most of them, nobody comes close to Dave Del Dotto when it comes to getting the crowd whipped up into a frenzy, and positively motivating people, he is or was a marketing genious.
In the early 90’s or thereabouts, Dave was indicted by the Federal Trade Commission for many violations, including false advertising, misrepresentation, and so on. The judge ruled that neither Dave or his wife were able to practice his trade for the rest of their lives! Which is why I was surprised to see Dave resurface with his new venture, although I haven’t heard from him in a while, maybe the Feds shut him down again.
In all fairness to Dave, although I was disappointed that he was not there to help me when I needed him as he promised me, if it was not for Dave and his incredible talent to motivate people, I would not still be in the real estate investing business today.
When I was depressed because I could not land a deal, or was struggling with how to put a deal together, I would go back over his books and video tapes (hundreds of times) and it was like I was recharged, full of energy and ready to go. Today I own almost a million dollars worth of real estate, about half debt and the other half equity. I still work my full time job which I love (computer engineer) but I have a better assurance that my future and retirement will be more secure than if I had not gotten into real estate. Maybe someday I’ll be able to quit my job if I feel like it, and concentrate on investing full time (if the darned economy ever slows down).
The moral of this story is persistence pays off in a big way!