What happened to Carlton Sheets?

63 posts by 56 users

Rob K.

Investor from Southeast, Michigan

Jun 23 '12, 02:09 PM
1 vote

Remember that guy? He was on TV all the time. He talked about buying houses and making a fortune. He never talked about tenants, repairs, evictions, problems, etc. I wonder what happened to him. I know that Tom Vu went to prison and now plays poker. Dave DelDotto went out like Vin Diesel. That McCorcoran clown went to prison. Those guru sideshows used to crack me up. How about Armando Montelongo? Haven't heard his name in years. I get emails all the time from Than Merril peddling his crap.

Good times.....

Bill Gulley

Investor, Entrepreneur, Educator from Springfield, Missouri

Jun 23 '12, 02:18 PM

Those are familiar names, Those were the guys that basically framed my opinions of gurus, thanks to them I make it hard on all of them, almost. I guess if they aren't in prison, they're hiding out or pushing up weeds.

Bill Gulley, General Real Estate Academy (GREA) Training is GREAT Generalrealestateacademy.Com

Loc R. Donor

Note Investor from Pasadena, California

Jun 23 '12, 02:44 PM
1 vote

Good riddance.

Ann Bellamy Verified

Hard money lender from Tyngsboro, Massachusetts

Jun 23 '12, 03:30 PM
9 votes

Well, I'll give credit to Carlton Sheets for one thing: he inspired lots of people to get involved in real estate investing, even if his stuff was bs. I was among them. I bought his course, started it, said "That's crap, it will never work" but went out and educated myself on buy and hold because I was bitten by the bug.

Armando Montelongo must be alive and well and selling lots of mentorship programs, because I have two current customers doing deals as a result of his programs. They are thin deals, but ok for a first deal. One of them found me here on BP and his project is coming along nicely, looking good.

As for Than Merrill and Paul Esajian, I have a great deal of respect for them, actually, and know them both from multiple points of contact. Yes, they are selling courses, bootcamps, mentorship programs, etc, but I consider them to be among the best of the guru's, and I work with a number of investors who are in their mastery program. I don't like the hard sell, but their stuff is good. Of course real life is never like the seminar, but I think they do the best in preparing the students for reality. Out of the guru's that is.

Medium small logoAnn Bellamy, Buy Now, LLC
Telephone: 800-418-0081
Website: http://www.buynowhardmoney.com
Hard money lending in NH and MA, and for free networking in MA, http://www.BlackDiamondREI.com

Al Williamson

Investor from Sacramento, California

Jun 23 '12, 04:07 PM
3 votes

I love this thread. I'm typically surrounded by folks with short term memories. Got to admit I got started because I was inspired to pencil out a no- money down deal. It worked for me - happy to report.

The problem, as I see it, is selling one side of the coin. Being a landlord and being a good landlord are two different things. A takes a while to learn best practices, cash flow management, and preventative maintenance techniques. Definitely more than just greed needed to build wealth with RE.

Medium leadinglandlord rgbsmAl Williamson, Leading Landlord
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Helping landlords increase their income and equity.

Joe B.

Investor from El Dorado Hills, California

Jun 23 '12, 10:39 PM
1 vote

I have a rule that if anybody makes it sound easy to make money... I run the other way. There is no magic bullet. You have to pay the price, take some risk and even if you are extremely succesful... you will have some battle scars. Fast and easy money only exists in the minds of those pitching MLM and Ponzi schemes. Those looking for a shortcut are easy pray.

[email protected]

George Lekas

from Montello, Wisconsin

Jun 24 '12, 03:39 AM

Carlton Sheets is alive and well, and still reeling them in. Now, he is ALL hard sell, this time his "mentoring" program. If you e-mail him, he'll respond with the extreme hard sell for about a week, then tell you you're not serious about real estate and never contact you again.

I'm with Ann- I bought his course, and it got me interested in real estate in the first place. Thank you, Carlton!

Loc R. Donor

Note Investor from Pasadena, California

Jun 24 '12, 07:52 AM
1 vote

Giving credit to Carlton Sheets for getting you into real estate is like giving credit to a snake oil salesman for getting you into being healthy.

Fortunately for you @Ann Bellamy, you were able to figure it out pretty quickly and go down the "right" path. There are many others who plain and simply got burned by him (and other "gurus") and never want to hear "real estate investing" again.

Ann Bellamy Verified

Hard money lender from Tyngsboro, Massachusetts

Jun 24 '12, 08:04 AM
2 votes

@Loc R.,

LOL! I totally see your point. However, it's up to us to do our due diligence and make our choices. Sometimes we're right, and sometimes we're wrong. Some people buy his course and then blame him for being a scumbag when they are out the money, and then never do anything because he's a snake oil salesman. Some people buy his course, say "shame on me" for thinking it was that easy, and then go and find another way.

It's capitalism at it's finest.

Medium small logoAnn Bellamy, Buy Now, LLC
Telephone: 800-418-0081
Website: http://www.buynowhardmoney.com
Hard money lending in NH and MA, and for free networking in MA, http://www.BlackDiamondREI.com

Gary E. London, CPA Verified

Real Estate Investor from Chicago, Illinois

Jun 24 '12, 03:59 PM

I can only assume that Tom Vu went to prison for something other than being a sleazy guru. Was it a shady R.E. deal or something else?

Gary E. London, CPA, U.S. Realty Investment Group, Inc.
E-Mail: [email protected]
Telephone: 773-484-0489
Website: http://www.usrealtyinvestmentgroup.com

J Scott Verified Moderator Donor

Investor / Business Guy from Ellicott City, Maryland

Jun 24 '12, 04:17 PM
1 vote

Originally posted by Gary E. London, CPA:
I can only assume that Tom Vu went to prison for something other than being a sleazy guru. Was it a shady R.E. deal or something else?

I've had the "pleasure" of playing poker with Tommy Vu several times. He says that he never went to prison (for anything), but I'm not sure I'd believe anything he says, at or away from the poker table... :)

Medium lishproplogoJ Scott, Lish Properties, LLC
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James H.

SFR Investor from Texas

Jun 24 '12, 04:29 PM
1 vote

I never read the Carlton Sheets. I'm not big on gurus. However, it was reading Rich Dad Poor Dad that was probably the initial thrust to me becoming serious about actually saving up some money to buy an investment property (something I had fantasized about but not otherwise taken steps toward).

One thing about the guru material is that it is accessible for most people. Smart people realize there is something missing and look for the missing information. A particular real estate agent and BP was big help for me in that regard.

Walter Hill

from Stratford, Connecticut

Jun 24 '12, 06:41 PM

Rich Dad Poor Dad did it for me although Robert Kiyoski is all about the hard sell now as well. His seminars are ridiculous and there are a bunch of Youtube videos exploiting him.

I read Carlton Sheets while I was on college and he had me hook, line and sinker. Lucky I was in school and had no credit or money.

It's sad but people are being taken every day.

Ryan Mullin

Residential Real Estate Broker and Investor from Indianapolis, Indiana

Jun 24 '12, 09:19 PM

I read Carlton Sheets and Rich Dad.. I never would have gotten into real estate if it wasn't for those two.. (I actually listened to books on tape:)

Telephone: 317-965-8708
Website: http://fshouses.com
Vacancy in Indy? We have tenants!

Robert Burns

Real Estate Investor from Baton Rouge, Louisiana

Jun 25 '12, 05:53 AM
1 vote

Interesting responses! I bought the Carlton Sheets course years ago but never did anything with it. However it did "plant the seed". Then a few years ago I went to a 3 day Kiyoski course after I just read "Rich Dad Poor Dad" and it all clicked. Although I spent too much money on the Kiyosaki course and did not get much out of it, I was "in the game". If anything I needed to make my $6,000 back. So I got into REI and have done well and doing better every day. The way I look at it, you can sit in the stands and wish you were playing or you can get on the field and get bruised, cut, and knocked down and you can also win. "After all it's not have many times you get knocked down that counts it's how many times do you get up!!"

Don Konipol

Real Estate Lender from Houston, Texas

Jun 25 '12, 07:02 AM
4 votes

Armando Montelongo was a speaker at a real estate investment club meeting I attended a couple years back. He said he went broke, went into a depression for 6 months, and now how found inspiration and desire to help others succeed. This must be the only business where people will pay big bucks to learn the secrets of success from a total failure.

ALL real estate guru stuff is an outgrowth, twist, or extension (often fantasy) of Bill Nickerson's "How I turned $5000 into a Million Investing in Real Estate in my Spare Time". Save yourself money, time and aggravation, study the book and apply it's principles. It's as valid today as it was in 1959 when it was first published.

Ryan M.

from West, Michigan

Jun 25 '12, 07:38 AM
5 votes

People can say what they want about gurus but I love the guys. People take the class and go out and buy, then realize this isn't so easy. Then I come in and take their problem off their hands for 50 cents on the dollar. I wish there was more gurus.

Gregory London

Multi-family Investor from Kenner, Louisiana

Jun 25 '12, 09:01 AM

Yeah, that's a good question. I liked Carlton Sheets, but I hear a lot of people say he's old school when it comes to investing in real estate.

Robert Steele

Investor from Lucas, Texas

Jun 26 '12, 02:05 PM

I cut my teeth on Carlton Sheets. My girlfriend bought his VCR tape course and it got me interested in REI. I didn't use any of his material though. A lot of his techniques didn't seem to work well in the easy credit environment at the time. Perhaps it worked well in the 80's.

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