For Those of You Who Remember Utah Investor

[bflbob]

I just read this new post over at Richdad.com.

Rich Dad - Welcome to Rich Dad!

Sounds like he made some poor choices.

 

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[andviv]

wow. I remember many of his posts. I used to think they were very good.

Was his theory flawed? or just the way he implemented things that was deemed illegal?

Thanks for sharing this, Bob.

 

[MJ DeMarco]

Wow, I remember people had elevated him to god like status over at the RD boards.

Making money as a crook is pretty easy since you can lie, steal, deceive, cheat, and have no boundaries ... making money honestly is a bit more difficult. It almost sounds like he went via the guru route ..." forget about making money in RE, I can make money giving $5,000 seminars."

Surprised, but not entirely shocked.

 

[SteveO]

I think his process was good. It was him personally that had the issues.

Reipro was one of the first to bolt from his group (due to his flaws). He and his wife made the big time using a lot of what they learned.

 

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[MJ DeMarco]

So what happened to LesGee? Wasn't he a "Utah" protege?

 

[hakrjak]

I remember Utah... I also remember Planegirl, who started that blog based on his methods when she started her REI business -- I used to read it pretty avidly.

Speaking of the old days, it's amazing to see how far a lot of us have come since the old days on the RD forums.

Anybody know what ever happened to BrownPM? or was it PMBrown?

Cheers,

- Hakrjak

 

[Sid23]

So what happened to LesGee? Wasn't he a "Utah" protege?

I spoke to Les a couple of years ago. He graduated to buying apartment buildings in the Midwest. He lives by me in the Bay Area, CA. Haven't spoken to him in a few years though.

 

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[PurEnergy]

I believe I remember this guy. I think he used to buy foreclosures that had a first and second mortgage. He would get the second discounted to nothing therefore creating equity. I don't know what he did with them on the backend.

 

[ryanpal]

i use utah's 300 posts as a base for my rei business. it's a shame because i bet he could have made just as much money doing this honestly. looking at his posts on RD, he definitely did have quite a following.
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it seems 24tea made that post. i believe i read many informative posts by tracey as well. maybe someone should recruit tracey here ;]

 

[SteveO]

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it seems 24tea made that post.

The name will never go away. :smx6:

Tracey lives close to my parents. I actually worked on an apartment deal with her that did not come to fruition.

 

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[hatterasguy]

Its interesting to see how the old guard from the RD forums is doing. I have been on those forums since the beginning, though not really active I was a lurker.

I remember his posts, they were always very good. Still since he is going to jail it sounds like he has some character flaws. Hopefully he learns from his jail time and corrects them.

I'm not a herder, I don't buy into the guru thing so I don't understand the attraction. But I do remember he had one heck of a following.