Posted by Ben (NJ) on May 06, 2000 at 21:10:58:
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Robert Allen’s new book…(off to a bad start) - Posted by Ben (NJ)om
Posted by Ben (NJ)om on May 06, 2000 at 13:42:53:
Just got “Multiple Streams of Income”. Since I am a tax lien investor, I naturally checked out the chapter on tax liens first. This is what Allen says, “my good friend Ted
Thomas called me and told me about tax liens…well, I’ll
let Ted tell you about them himself”. We then get seven pages or so of Ted Thomas’ sales pitch…verbatim". This is SO incredibly lame! If I wanted Ted Thomas’ materials I would have ordered them (in fact I did a few years ago and found so many inaccuracies I sent them back immediately).
If the rest of the book is anything like this, i will be sorely disappointed!
Luckily, it’s not… - Posted by HR
Posted by HR on May 06, 2000 at 16:42:35:
Ben,
The tax lien section is the weakest in the book. Overall, the book is good. The ideas are on the mark, they are just too basic. How can you talk about landlording in just one chapter, for instance?
Overall, I find it a must read. I like Bob Allen. He is a pioneer. I look to him to have distilled the ideas of others into a money making venture. With MSOI, he has done just that. While each chapter doesn’t tell you nearly enough to do each topic, it can get you pointed in the right direction. I found the ideas valuable and a refreshing reminder.
Just my 2 cents,
HR
Re: Luckily, it’s not… - Posted by Ronald
Posted by Ronald on May 06, 2000 at 21:07:11:
I would be wary of Allen; he declared bankruptcy 3 years ago; has had numerous judgements against him and has owed hundreds of thousands of dollars to the IRS in judgements and liens.
Not a very successful person
Re: Luckily, it’s not… - Posted by Matthew Chan
Posted by Matthew Chan on May 09, 2000 at 17:17:20:
If you have read the book, you will realize he accepted responsibility for errors he made in past management and operations. It does not diminish the ideas he has taught and continues to teach.
Having a lien or bankrkuptcy is not the sole indicator whether a person is ultimately a winner or loser, successful or not successful.
If you think so, you better take a look around at the people around you grinding away in their jobs with their debt trying to look good but really can’t afford it.
They probably have no liens or bankruptcies but not really successful either.
Re: Luckily, it’s not… - Posted by JoeKaiser
Posted by JoeKaiser on May 08, 2000 at 19:37:52:
How long do you suppose “Nothing Down” was on the New Your Times best seller list? How many millions of copies do you suppose it has sold and continues to sell?
Not successful? You gotta be kidding me.
Do you really believe “success” is like some big scorecard in the sky, where the numbers are tallied on any particular day and someone stamps “success” or “failure” on our efforts to date? Hardly!
Business, by and large, is like a roller coaster. There will be ups and downs, hills and valleys, and you either deal with it or do the 9 to 5 thingie. Which reminds me . . . saw a quote the other day that went something like this:
“Great people talk about ideas, average people talk about events, and small people talk about other people.”
Frankly, I’d rather hear about your ideas . . .
Joe
That’s EXACTLY why I value his advice… - Posted by HR
Posted by HR on May 08, 2000 at 16:49:05:
Allen has passed thru bankruptcy, has judgement and IRS liens against him, etc??? My kind of guy!!!
Ronald, the really great ones are not afraid to throw caution to the wind to land the bigger, better deal. Allen is like that. He is unquestionably one of the giants of rei. Not to read his stuff is to make a colossal mistake. His ideas are right on the mark and are excellent (Building Wealth and Multiple Streams of Income).
The fact that he’s made some eggregious errors in his life doesn’t disqualify him as a mentor. In fact, maybe it makes him even better?
HR