![]() ![]() “I think he’s great.”īorn Tuan Ahn Vu, Vu said that he, his parents and nine brothers and sisters were among thousands of refugees who fled South Vietnam by boat after the communist takeover in 1975. “I listen because I want to be rich like him,” said Hocea Rodriguez, a 24-year-old Anaheim restaurant worker from the Philippines who attended Vu’s presentation at the Marriott. ![]() Many in Vu’s racially and ethnically mixed audiences imagine his Horatio Alger story could be their own. He seemed to receive an especially eager reception during a recent five-city tour of California. Still, Vu, who fills ballrooms from Orlando, Fla., to Montreal, finds people willing to pay as much as $15,000 for his advice. “But I think you can get all of this sort of information from your library, for free.” “You can get a motivational kick from him, sure,” added Jane Garvey, editor of the Creative Investment Advisor newsletter in Glen Ellyn, Ill. You either end up taking advantage of an unsophisticated seller or misleading an institutional lender” by not disclosing that you have no equity in the property. The other problem is that it is very hard to do a legitimate ‘nothing down’ deal in a legal and ethical way. Reed, a Danville, Calif., real estate investment adviser and book author: “The main problem with the nothing-down gurus like Vu is that when you buy property with nothing down, the existing debt on the property is a tremendous burden. “At first, I started out doing what everyone else was taught to do. “I always knew there was money to be made in real estate,” said Vu, whose easy manner and ready smile contrast with his aggressive salesmanship. He has done this, he says, by distilling his real estate advice into a simple formula: Locate the hopelessly indebted and persuade them to sell their homes-without a down payment-and for less than the property is worth. He listed $6 million in debts.Īlthough a few well-known TV real estate salesmen remain, such as Dave Del Dotto of Hawaii, Vu has become one of the most visible. Similarly, former school teacher Ed Beckley, whose “Million Dollar Secrets” cable television program appeared in about 200 markets, in 1987 filed a Chapter 11 bankruptcy court petition seeking protection from thousands of former students who sought refunds. after the company that licensed rights to his real estate seminars filed for liquidation under Chapter 7 of the federal bankruptcy code in 1986. The best known of the 1980s real estate gurus, author Robert Allen, closed down Allen Group Inc. If this guy (Vu) is breaking the law, then he needs” to be prosecuted. We’ve got affidavits from 20 of his students. what matters to me is the underlying truth of what they are saying. “I understand that his people have raised questions about the motives of the people who are complaining. “I’ve wanted to look into his operation for some time,” said Mark Barnett, an assistant state attorney general in Hollywood, Fla. The attorney general is also examining whether Vu has violated Florida law by failing to register his businesses with the state. The Florida attorney general is investigating claims from 20 of Vu’s students that he allegedly engaged in deceptive trade practices by reneging on promises to help students invest in real estate by becoming their “financial partner” in certain purchases. His campy hourlong television ads-which promote his seminars against a backdrop of bikini-clad women, fast cars, big yachts and huge mansions-are so infamous that they have been spoofed on both the Fox television network show “In Living Color” as well as on NBC’s late night comedy show “Saturday Night Live.”īut Vu’s rags-to-riches odyssey is receiving some serious scrutiny these days. , money, salary, income, and assets.He arrived dirt-poor in the United States from Vietnam in 1975 and has gotten rich, he says, following advice he now gives to others. So, how much is Tom Vu worth at the age of 65 years old? Tom Vu’s income source is mostly from being a successful Player. He net worth has been growing significantly in 2021-22. According to our Database, He has no children. We don't have much information about He's past relationship and any previous engaged. Tom Vu Weight & Measurements Physical Status He is a member of famous Player with the age 65 years old group. We recommend you to check the complete list of Famous People born on 5 December. Learn How rich is He in this year and how He spends money? Also learn how He earned most of net worth at the age of 65 years old? Popular As Now We discover Tom Vu's Biography, Age, Physical Stats, Dating/Affairs, Family and career updates. ![]()
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