Robert Allen Institute Lost $10,000 with Robert Allen Institute! Internet

I went to several seminars by the Robert Allen Institute.

When I was finally convinced that the way to make money was in buying distressed real estate and flipping it for a profit (they were VERY convincing, and inundated me with many three-ring binders and CD/DVD's), I signed up and paid $10,000 for their training.

Come to find out, it's Very easy to find properties.  But, their "No money down" approach was a total rip-off and lie.

I was given a HUGE book of what they called "hard money lenders" (companies or individuals that would consider putting up the initial cash, once you presented them with a profile of the property and the plan to bring it to maket, costs, etc.).  Come to find out, Very Few of these 100's and 100's of names were willing to put up ANY money unless you put up an equal amount yourself.

The whole idea Robert Allen sales people instilled in us "attendees" was that you didn't have to have your own money to make this work.

What a LIE!  I worked on this with a friend for over a year.  Found plenty of properties that were worthwhile, but after exhaustively calling so many supposed "hard money lenders", I never made one penny. 

I spent an enormous amount of time and energy trying to make this work...All I have to show for it is a bank account with $10,000.00 less in it. 

The old adage is true:  It takes money to make money.  They should have used that as their opening remark at their seminar! 

Beware!!!!