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Let's publish the actual property ownership records of the gurus Seminar and home-study course ratings Copyright 1998 by John T. Reed 'Successful' gurus' holdings For some time, I have been saying that we will, in the future, be able to get performance stats on everybody, just as we can currently on pro athletes. When will that come about? I don't know, but when it comes to real-estate gurus who claim to be big successes and who claim to be "doing these deals every day," and investing in deals brought to them by their seminar customers, I'm tired of waiting. Guru Carleton Sheets, recently wrote to me to express unhappiness about my not recommending him on my Web site. In that 3/25/98 letter he claimed that he bought a single-family home as a rental property in the previous six months for "25% down (borrowed capital)." I assume that "25% down (borrowed capital)" means nothing down, which is a prominent aspect of Sheets' advice. Sheets also wrote that he is "a full-time real estate investor buying, selling and rehabbing property on a weekly basis." I wrote back asking Sheets for the address and lender name on the recent nothing-down acquisition and also for the addresses of the properties he has bought, sold or rehabbed in the last three months. I got no response in spite of repeating the request to his infomercial producer on the phone. Some of you may invest in Florida. I would appreciate it if someone who has occasion to go to the recorders or assessor's offices in the Stuart, FL area would see if they can get me a copy of any public information on the deals Sheets teased me about. I have added the home city and state of many gurus to my guru-rating Web page so those of you who invest near other gurus can check for evidence of their deals. One reader found a public record of one Sheets-owned property out of the Martin County Court records which are on line. I have long been one of very few gurus who write about both their successes and failures. It's time to publish the stats on other guru's holdings. I'll publish guru ownership and purchase-and-sale information from official documents I receive on this Web site. I once dug up the recorders office documents on Allen's 1981 Los Angeles Times "challenge" nothing-down purchases in San Francisco and had a barrel of fun doing it. Sherlock Holmes for a day. (Allen should be grateful that I have not yet figured out how to reproduce the documents in readable form online.) I suspect that publishing the performance stats on gurus would have an effect like turning on the light in a room in full of roaches. If you've never had the pleasure, roaches roam only in darkness and react to light by scurrying back into hiding. One reader reported the following: "John, I have read your list of guru's and have asked a few questions to several of them and many of the responses are typical, "if you don't like us don't try us" or declining or avoiding the questions I had ask!" Frank Hoag Please send me any pertinent documents to John T. Reed, a.k.a. John Reed, Jack Reed, 342 Bryan Drive, Alamo, CA 94507, Voice: 925-820-7262, Fax: 925-820-1259, www.johntreed.com

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