If there is one thing I hate about real estate investing, it’s the constant barrage of OLD information from “gurus.”  The same tired old gurus trying to sell the same old tired strategies that used to work but have little chance of success in 2009. Well, let’s welcome Donald Trump to the regurgitated info from old gurus club!

Trump is regurgitating info from 2004, so he’s at least a little more current than a few others out there, but really do we need to attend another “free” seminar that is just a 3-hour long sales pitch for the $10,000 seminar that we can get tonight and tonight only for $4,995?

I just received my invitation in the mail to attend the “Way to Wealth” seminar in Denver. And I’m RSVP’ing no thanks. Here’s why.

1) They are giving away a “special edition” copy of Think Like a Billionaire. Unfortunately, I got it when it was released back in 2004, so what’s the deal? No time to write a new book?

2) He’s not even going to be at his seminar. According to the website “Mr. Trump will provide a videotaped personal message at the seminar. The seminar will be instructed by a Trump Institute certified teacher, hand-picked by Mr. Trump.” Whatever.

3) I hate to say it because I am actually a fan, but his stuff is crap.

Back in 2005 when he first decided to become a REI guru and launched Trump University, I took the plunge and ordered a course called, Bubble-Proof Real Estate Investing. I checked the website and they don’t sell it anymore. Good thing.

It was by the “dean” of Trump University, Gary Eldred, and was, as you can imagine, the usual vague techniques but one thing jumped off the page at me.

In the course, Eldred was promoting an investment opportunity in “turnkey duplexes” offered by a company called Mile High Capital Group. He said he was a “spokesperson” for this amazing company.

Well, this amazing company happened to have been indicted on securities charges after scamming 800 investors out of $22 million for turnkey duplexes that never materialized. And the dean/spokesperson was telling us that in order to succeed, all we had to do was invest in these duplexes, too.

These guys were based here in Denver and they were all over the news so you can imagine when I read this I was dumbfounded. A faculty member of Trump University promoting a scam in one of Trump’s own courses. Unbelievable.

I emailed Mike Sexton, the  president and co-founder of Trump U and complained about the course and the blatant promotion of a scam. He was very nice but did nothing. A few weeks later I got an email from Eldred saying that he in no way meant to imply that he was endorsing the company and apologized for mentioning them in the course. Hmmm. Don’t spokespeople endorse products? I thought so, too.

Long story short, I am kicking off the Investor Insights REI Reviews with a HUGE Do Not Buy on this Trump babble. Save your money and your time, folks. And when you get your invitation (and you will), be sure to recycle.