That old saw about timing being everything certainly rings true in the case of Troubleshooter Tom Martino. On the same day he talked about being humbled by filing Chapter 7 bankruptcy due to alleged real-estate liabilities of $78 million (a figure he disputes), the Colorado Association of Real Estate Investors announced the lineup for October's Real Estate Investors Wealth Building Convention. And guess who's scheduled to talk about "Timing the Market"?
Here's the Martino-touting blurb on the website for the convention, slated to take place October 15 and 16 at the Crowne Plaza Hotel DIA:
Tom Martino is a well-recognized name in Colorado. He is the host of the Troubleshooter Radio Show in 630 KHOW every day, and host of Martino TV on Fox31 News. Tom has been a vocal consumer advocate and media personality for many years, but is also a real estate investor with over 30 years experience. By timing the market, he has made (and sometimes, as he will admit, lost) a fortune in real estate. He will share his thoughts as to why NOW is the ultimate time to buy Colorado real estate!
This description is obviously a bit out of date. For one thing, Martino TV is off the air, and his contract with Fox31 wasn't renewed. As for his success at timing the market, he told us yesterday, "I didn't exit when I probably should. You just keep going and hope you can maintain your property, but sometimes you can't."
Then again, he may be able to speak eloquently about Colorado real estate bargains. After all, the banks that will end up with the properties he'll no doubt surrender as a result of his bankruptcy may well peddle them at heavily discounted prices. And he does know plenty about building wealth. Holding onto it is another matter.
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