The Bathrobe Millionaire – A Day Late and A Dollar Short

The Bathrobe Millionaire Review – Is He All Wet?

So I received yet another email from a marketer pimping their buddy’s product. This one came with the subject line of “meet the nine million dollar affiliate marketer”. I mean who wouldn’t open the email just to find out who this person is.

The email contained an affiliate link to an Amazon book about “The Bathrobe Millionaire”. I always check the customer reviews first and of the nine reviews, only one was negative. I thought to myself “Okay, this book must contain some interesting insights into making money online”. I then decided to search for the book title in forums to see what people were saying about it.

After a bit of digging, I came across the following post dated April 24th on the Bogleheads investing forum:

I got pretty lucky, frankly. I did online lead generation and for four years from 2003-2007 I generated over 1 million real estate leads (names of people looking for a Realtor) and sold them to a big company. It was extremely lucrative which is how I ended up in Nevada (a no income tax state, but also one that got slammed with the housing downturn.) I’m actually about to release a book about the whole experience called The Bathrobe Millionaire. It’ll be out in about 2 months.

Alright, now we know how he made his money. But I wondered if he was still doing the same thing or had moved on to something else. I received an answer a few posts later when “The Bathrobe Millionaire” author said this:

The whole market completely crashed in late 2007, so no, I don’t really work in it anymore except minimally. The good news is that when I did, I literally only devoted about 30 minutes/day to my “business” and spent the rest of the time watching movies and snowboarding. It was great while it lasted! Laughing Since 2007, to keep busy and bring in some income I have: 1) Spent about 10 months as a VP for some stupid venture-backed Internet company, 2) Started a website for the unemployed that made over $100k and then went kapluey, 3) Bought an Internet business, 4) Sold that Internet business 6 months later after realizing it was a lemon, 5) Started brokering web businesses after realizing the only people who made any money from the business I purchased and sold were the brokers. I guess I still don’t know what I want to do when I grow up.

Hmmm, interesting. The author has now admitted that (1) his money making method no longer works, and (2) he’s struggling to come up with a new method of earning money. So let me ask you – Do you think “The Bathrobe Millionaire” book is going to teach you anything you can implement to start making money?

Personally, I think the book is probably a day late and a dollar short. Yeah, his methods worked great back in the day but not today. I suppose it’s possible to take the techniques he used and apply them to a different market segment but I’m not sure because I haven’t read the book. And based on the posts mentioned above, I don’t think I will be buying “The Bathrobe Millionaire”.

One thing I found interesting about the author’s first post mentioned above is it is very similar to how MJ Demarco made his millions. Demarco is the author of the highly recommended book “Fastlane Millionaire“.

Demarco had a similar lead generation business except his was in the limo rental industry and utilized a website. He started out selling his leads to limo rental companies for $1.00 and he was making a crazy amount of money. Demarco eventually sold his online business for something like a million or two. The new owners basically ran the business into the ground and Demarco ended up buying it back. I believe he subsequently sold it again for a similar amount.

Anyway, you can learn more about Demarco in the “Fastlane Millionaire” book. I read it (twice) and really enjoyed it. If anyone has read it, I’d love to hear your own thoughts and opinions of the book.