‘Think Rich Quick’ author quits amid controversy | Inquirer Business
Close  

‘Think Rich Quick’ author quits amid controversy

Through what appears to be his own twitter page with his photo on it, Trace Trajano (who claims a P275 million real estate portfolio in the Philippines) announced to the world that he is quitting giving his real estate seminars: “I began the One Million Pinoy Millionaires Mission 3 years ago. And in that short time, I have created several hundreds of millionaires all over the country. I find fulfillment when I see a young guy like Pius make half a million pesos a month because of what I teach.  But I want peace of mind and so I am quitting giving real estate seminars. I will still continue the One Million Millionaires some other way but it will no longer be by giving real estate seminars.”

The decision came amid allegations of fraud that have been documented online by certain persons who brought up a number of issues, including a claim that students paid $5,000 lifetime coaching but never got what was bargained for.

ADVERTISEMENT

Bo Sanchez

Bo Sanchez of Shepherds Voice Publications once published Trajano’s book but the preacher’s apparent Facebook page reiterates that they are no longer connected with Trajano.

FEATURED STORIES

Sanchez’s team writes: “Once upon a time, Bo’s nonprofit foundation, Shepherds Voice Publications, published the Real Estate book of Trace Trajano. And we’re grateful that his Real Estate ideas have helped many people. But Trace has moved on to other things-and so have we. Please know that in saying this, we’re not criticizing him or his work. If you work with him or invest with him, please do your own due diligence.  We’re simply concerned that some people may work with him or invest with him on account of a perceived continuing business relationship with Bo Sanchez.”

Get rich schemes

Trajano has promoted a real estate get-rich-quick scheme that more risk-averse fund managers may not agree with (such as the following example) since his ideas involve closing real estate deals using “saliva capital” only.

Although certain persons have given success stories using Trajano’s method, other followers may not necessarily experience the same instantaneous success.

In one of his self-produced tutorial videos, Trajano, who calls himself  “millionaire maker,” interviewed what he described as one of his most successful students Thea Santos who allegedly made P260,000 from her first deal—a transaction closed in two weeks with no money down.

What was her secret? Santos scoured the bank listings and discovered a four-door two-storey apartment in San Pedro, Laguna. For the initial down payment, Santos issued a postdated check that was due in 14 days.

During that time, she marketed the property and found a buyer within that time frame.

ADVERTISEMENT

Trajano summarizes the get-rich formula: “The idea behind buying properties no money down is that you control a piece of property, as long as it’s a good deal, then you market that property and you get a buyer who will take over your place. The buyer brings the cash not you.”

In a succeeding video, Santos detailed how she sold the property in two weeks by using what Trajano calls “extreme marketing” techniques—she basically did some networking, produced marketing and financial plans, placed signages and newspaper ads and sent across a most important message: “This is a bargain and requires urgent decision or you’ll lose it.”

“Laway” only

The buyer eventually came from her personal network.

Trace Trajano, who co-authored his book with Larry Gamboa, held his supposedly last Think Rich Quick online seminar “How to buy properties with laway lang ang puhunan” last Aug. 27-28, 2011. The cost was P2,000 or $45 and was made available to a worldwide audience.

In an earlier letter dated 15 June 2011 that was posted on the above-mentioned twitter page and Viloria.net, Trajano issued a long response letter entitled, “I’m sorry. I’m not perfect…”

At the onset, he defends his programs as follows: “I would like to make it clear that I have not deceived anybody as all pertinent policies are clearly stated in all of my forms, stubs and even in e-mail reminders, which students have to accede to before they can join and of which those who have attended my programs willingly agreed to.”

Biblical references

He continues with some biblical references: “I believe that leadership demands sacrifice. And if taking all the hits and blows would entail helping more people and make more changes in people’s lives, then let it be so and ‘let the man who has no sin cast the first stone.’

“Furthermore, because of such acts I am now compelled to further hasten the revolution of creating one million Filipino millionaires, and together, we shall ‘rise and rise again until lambs become lions!’”

With that emphatic statement, the question remains on whether Trajano is really breathing his last. Toward the end of his more recent goodbye note, he throws back a suggestion to his virtual audience, “Click here … If I get at least 100 people, I will give my last real estate seminar.”

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: author, book, Think Rick Quick, Trace Trajano
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2021 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.