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Real Estate Gurus
Irwin “Sonny” Bloch was a lounge singer turned financial radio guru who had a hit show in the ‘80s and ‘90s. He was indicted for fraud after pushing non existent investments, such as a “gold” opportunity that turned out to be worthless metal bars painted yellow.
It seems Mr. Bloch didn’t check out the investments on his show the way he promised, and the characters pushing the stuff paid him for their appearances. Some of his listeners lost a bundle of money; Sonny Bloch took off to the Dominican Republic; but Interpol caught up with him and he served a jail sentence before dying of cancer in 1998.
At one time Sonny Bloch used listener’s questions to put together guidebooks on real estate. He was the author of “171 Ways to Make Money in Real Estate” and “Inside Real Estate”, among others. He also co-wrote a couple of financial guidebooks.
Sonny Bloch’s books are still available, and their strong point is that they give loads of practical detail on “how to do it”, so they’re good for the novice. But if you’re wondering if his real estate tips are going to make you rich, think on this: If Sonny Bloch didn’t check out the investments on his radio show, then how can you trust the investment tips in his books?
Sonny Bloch himself used to say that the only stupid question is the one that isn’t asked. Well, here’s another question that needs asking: Would Sonny Bloch have stooped to defrauding old ladies with his disappearing gold trick if he’d had 171 good ways of making money on real estate?
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