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John T. Reed' views of various real-estate-investment gurus 9 Eugene Vollucci---I do not recommend Use my Real Estate B.S. Artist Detection Checklist to evaluate this guru. Review of his book How to Buy and Sell Apartment Buildings Tom Vu---I do not recommend Claimed to be a Vietnamese boat person. Surrounded himself with bikini-clad babes in TV infomercials. I am not sure how babes relate to real estate investment. Was he implying you can afford prostitutes after you get rich using his course? Or were the babes gold diggers which you will attract because of your net worth? His approach to advertising is so sleazy I wonder why anyone asks me about this guy. Here is an email I received about Vu: "I wish that internet had been around ten years earlier. I bought many books and tapes from many speakers. One of them was Tom Vu' course. After I bought the course for about $395.00, I realized that I had been had. The information was just basic that most reasonable real estate books you get from the library would have. Some of the information were worthless. I kept some old courses, but I threw Tom Vu' course away long ago because its zero value. This web site is a valuable one that any real estate investor should read." mnnguyen49@%20hotmail.com Click here for another longer, excellent email about Vu and real-estate gurus in general. Michael T. Warren (1665 Territory Trail, Colorado Springs, CO)"”I do not recommend He sent me a post card advertising his "Making Money From Bad Debts Boot Camp." I like that subject. But the post card did not state the cost, which usually means it is so high that the guru feels he has to get you into the clutches of a salesperson before he reveals it. A visitor to my site says Warren' course is $595 with $100 off if you sign up at the promo speech. The post card also had four testimonials. He only gave the initials, no names or cities. Providing only the initials of testimonial givers triggers item #21 in my B.S. Artist Detection checklist. I thought it was interesting that one testimonial was by a person whose initials were actually "B.S." Warren is one of the guys who offers to invest in your deals. That' item # 8 in my Real Estate B.S. Artist Detection Checklist. I have heard from at least one Warren customer, Jack Larking, who is extremely unhappy with Warren. Contact him and/or Warren for details of the dispute. There has been some information about him at papersourceonline.com, too. There is also an email about Warren under the Stefanchik heading above. On the first weekend in March, 2003, I got a blizzard of emails telling me that Warren had been arrested for securities fraud, theft, and racketeering (People v. Michael T. Warren, Div. 03 Case No.: 03CR0793 Colorado Fourth District). If convicted on all counts, he could get 36 years. Trial reportedly has been postponed to February or March, 2005. Wealth Investment Network (P.O. Box 49683, Colorado Springs, CO 80949)"”I do not recommend I do not like the name of this organization. The good gurus generally do not choose such names. See my Real Estate B.S. Artist Detection Check List for a

discussion of how bad gurus reveal themselves by such things as emphasizing the benefits of wealth rather than real-estate information. Their Web site entry pages are chock a block full of words and phrases that I see over and over in material put out by sleazy gurus. Some of the articles at this site were written by guys I recommend. Many were written by guys I give a neutral recommendation to. In other words, the authors are generally not as into get-rich-quick hype as the site owners. The home page has a picture of a treasure chest overflowing with gold and jewels. Stephen Weeks---unknown Use my Real Estate B.S. Artist Detection Checklist to evaluate this guru. Fred Weinkauf---unknown Use my Real Estate B.S. Artist Detection Checklist to evaluate this guru. David Whisnant"”Unknown I sent him a fax saying I had more requests about him than any other unrated guru. I told him I had heard good things about him and asked him to call me or send me his phone number so I could call him. I got no response. If someone who has his material will send it to me, I will review it. Note to Mr. Whisnant: Lots of people have offered to send me a free electronic copy of your book. I have turned them all down because such copies are illegal piracy. But I doubt very many other people are turning such offers down. I still do not have a copy of your book. Whitney, Russ"”I do not recommend"”If I had numerical ratings, I would give him a lower rating than any other guru Because RussWhitney sued me in June of 2002, I have created a separate Web page that leads to many other Web pages I have created about Whitney. Click here to go there. I.G. Williams a.k.a. Ione Young Gray---I do not recommend L.A. foreclosure guru convicted on two counts of using a false social security number to obtain more than $600,000 in federally-related mortgages. Sentenced to 18 months in prison. A visitor to this site added the following: Her Bar Number was #74419; suspension date was 4-29-97. Conviction was for violation of 18 USC 1014, Felony, false Social Security number on a loan application, and for 42 USC 408 (a) (7) (b). He said she was not a saint, but that the government ' prosecution was questionable. He did not say why. I asked him that and why she used an alias in her seminar business. Here is an email I received: "John, I thought you might be interested in the following. It was published in the Attorney Discipline section of this month's edition of the California Bar Journal, which is the official publication of the State Bar of California. IONE YOUNG GRAY [#74491], 54, of Los Angeles was suspended for five years, stayed, placed on four years of probation with a four-year, six-month actual suspension, and was ordered to take the MPRE. Credit towards the actual suspension will be given for an interim suspension which began April 29, 1997. The order took effect Sept. 20, 2001. Gray was convicted in 1997 of two counts of making false statements on a loan application and two counts of fraudulent use of a Social Security number, all felonies involving moral turpitude. The convictions were the result of knowingly making material false statements in documentation she submitted in support of two loan applications. She provided a false name and Social Security number and misstated her monthly earnings. While suspended for nonpayment of bar dues, Gray accepted three cases for clients. She made three court appearances, filed a complaint and motions, and requested a continuance of a trial date. She stipulated that she committed acts of moral turpitude. In mitigation, she made her loan payments on time and the bank suffered no monetary loss as a result of her actions. There was no order of restitution. Richard Wood"”Murdered Wood was a paper (seller mortgages) seminar guru. He reportedly persuaded his seminar students to give him $4 to $6 million to invest in second mortgages. Instead, he used some of it to pay phony returns to later investors. Using the principal of early investors to pay phony returns to them and later investors is called a Ponzi Scheme after Charles Ponzi, the first to receive great publicity for using the scheme. Wood reportedly put the rest of the investor' money into his own accounts"”offshore. When he avoided investors or told them unbelivable stories explaining why he could not give them their money back, they forced him into involuntary bankruptcy. He stopped making payments on his $500,000 Las Vegas mortgage and was presumably about to flee the country when he was shot dead in front of his house. Lance Young"”Unknown Probate guy. Use my Real Estate B.S. Artist Detection Checklist to evaluate this guru. Good luck, John T. Reed, a.k.a. John Reed, Jack Reed, 342 Bryan Drive, Alamo, CA 94507, 925-820-7262, www.johntreed.com

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