rich dad poor dad scam
1.You'll be overcharged for your Real Estate (basic) Education. Most people go for the free seminar which is meant to open your eyes and your mind. Then you'll be up sold to a 2-3 day training camp. Sound's sweet right? This training camp is going to cost you $200-$500 which is not bad to some. This 2-3 day training camp teaches you BASICS and is meant to up-sell you into a much more in depth mentor-ship program. Here is what you will learn in your 2-3 training camp
- Bird Dogging
- Lease Options
- Subject to (Deals)
- Owner & Seller Financing
- Building a Buyers List
- Building a Sellers List
- Asset Protection
- Short Sales
List goes on I don't feel like listing everything (sorry) the training class will have a good 50 people in it or more and they are rushing through each of these and you're taking notes.. Sounds good right?
Well what if I could you there were books that cover all that information and more and it not cost you more than $100.00? I suggest you get any thing from
- Peter Conti & David Finkel
- William (Bill) Bronchick
- Wendy Patton
- Steve Berges
I've purchased over 14 books for less than $100 (thank you amazon). These books have step by step instructions from basic to advanced. They show you how you thing these salesman are rushing you through in the rich dad training but more and more in depth.
Not to mention you can find excellent authors and real estate investors in your own city that will take you under their wing
2.Rich Dad trainers... most of them are not active real estate investors! They understand the concept and all the stuff in text that was fed to them but they don't INVEST FOR A LIVING!... I'm saying but having sex with a woman and talking about having sex with a woman are 2 completely different things! I feel real estate is the same way. 9 times out of 10 the coach that is training you knows NOTHING about your market! So they are teaching you thinks based on their market. Now I know a concept is a concept and can be applied just about anywhere but when it comes to real estate each state has its own set of laws and... AND!!! a good % of the techniques they will teach will get you into trouble in your city because
- Laws are not the same in your area
- The market isn't the same in your area
3.Rather than showing you how to research and do comps also known as comparable s they push their software at you which comes free with their mentoring program (that coast 35k I might ad). The software they pitch also has a $30-40 monthly fee to use as if paying for the mentoring program wasn't enough. The books will show you plenty of other alternatives both free monthly member alternatives. They don't show you anything about writing contracts nor do they pass out any basic contracts that you can use or even have an attorney alter.
4.Rich Dad Training - Is owned by the one and only RUSS WHITNEY if you don't know about this guy I suggest you do both a Google and you tube search online. He's not a really fair guy. He's taken advantage of a lot of his students and he's flakey... sorry that just my take on the dude. I won't trust him with my money on my worst day. What kills me is Robert doesn't show up to his own training or have specialized video made out to these new want to be investors! It's all cookie cutter poop and a lot people fall for it and lose a lot of money. The trainers/ Salesmen do their job well too. Some are actual investors but they won't be your personal coach. So the good ones build you up give you good information then in the end turn you over to a bunch of people you have no rapore with who in most cases are horrible trainers.
They always tell you the glamorous side of real estate investing and swear up and down that they can teach you to invest safely so nothing goes wrong... GTFO! No matter how safe you are something can ALWAYS GO WRONG the best thing you can do is prepare for it. Always prepare for the worst in any situation.
5.For those of you that can't afford the course the trainer for the day will instruct you (most demand! And make you feel stupid for not having the money) to increase your credit limit. Now this can be a good and a bad thing. My instructor taught us how to use credit as a good investment tool but to only use if you have a good deal under contract that will cover fee;s but others don't present it so well and get a bit pushy!
Those are just some of the reason if you go you local real estate investors club you'll run into other investors who have actually spent that 35-70K Rich Dead Course and tell you the nitty gritty of the actual course and how much of a waste of time it was. Not to mention you will learn more from a mentor in your area. I don't know about you but I rather have someone that is at least reachable
Robert Kiyosaki Knows His Partner Is Scamming The World
Three part video displaying the inside workings of Robert Kiyosaki's Real Estate Investor Seminars.
He even admits that his training seminars are unethical