I am looking into taking some advanced courses with either Rich Dad Or renatus. Renatus main facility is located here in Salt Lake so I would have a community. They have plenty of private investors lined up to help me get into properties but I must pay into the education before these resources are given. My main focus/business plan is to buy multi unit properties. I don’t have 20% to put down so I am kind of looking for all the help I can find. I trust Rich Dad a little more because I believe in Robert’s philosophy but the product is much more expensive. Any Suggestions?
If you can’t afford 20% down, you’re not going to be able to afford the RIch Dad seminar scams. Here’s an investigative report on youttube on the Rich Dad seminar scams http://www.youtube.com/watch?v=HE6nT0oyPt8&NR=1&feature=endscreen
My suggestion is to get a better job or cut your expenses and save up for the 20% down because no lender will lend you 100% financing and you won’t convince a vendor to lend you a no money down VTB 2nd unless you can convince that vendor you have past proven success by showing them you hold other rental property and can provide proof of past success. Landlords didn’t get to where they are by being stupid.
Hi CarterMG99, welcome to he world of real estate!
I too am a huge Robert Kiyosaki fan. And I have gone to his “free seminar”, which in reality is not ran by him but a 3rd party training company. You can get the exact same information from ALL of his books, and save a fortune.
But primarily…no way, no way, no way, would I recommend you get started in real estate by investing in real estate seminars. There are so many people out there who run “free seminars” which are really sales pitches for a more expensive seminar, which usually is $1000 to $3000. And that secondary seminar is really a sales pitch for even more seminars that could total on up to $40k or $50k!! Lots of poor folks get suckered into those … and the only people who really win are the guys running the seminars. There are even entire “real estate universities”, which are not universities at all, where they do the same thing.
The real estate business offers a lot of people a chance to make a lot of money, and a lot of people know it, and that has created a huge pool of people who enjoy providing real estate training at rip-off prices.
Additionally, there are lots of overpriced real estate books and packages out there going for $500, $1000 and much more - watch out for those too!
If you need a book on short sales, buying foreclosures, wholesaling, whatever specific subject you might be interested in…checkout Amazon.com and you’ll spend $10 to $50 on a similar book.
When I started out, I visited John T. Reed’s “Guru Rating” webpage, and bought every single book that he recommended minus his own products. See http://www.johntreed.com/Reedgururating.html
I do not totally agree with what John T. Reed says about every “real estate guru” - such as his reviews about Robert Kiyosaki - but most if not all of his recommended book authors are EXCELLENT - including John Schaub, Kevin Myers, Lonnie Scruggs, Bill Nickerson and the like.
You can honestly probably buy all of the popular books from his recommended authors off Amazon.com for just a few hundred bucks, and you will have the best real estate educational materials that you could ever dream of!!
That alone will give you a lot more cash that you’d spend on seminars, to invest in real estate. =)
Let us know if you have any questions and we’d be glad to help.
Have a good weekend,
Well, I think to call the seminars a scam is a pretty bitter response. They are a business. Any business has the goal not to make you rich, but to make themselves rich. Can you take what you learn from a seminar and become rich? Yes. Will you? I would estimate that most who attend them do not. They will give you just enough to want more.
With that said, I would agree in bypassing the seminars and reading the books. Also, reading through and posting questions on this forum will be very helpful. I would also suggest getting involved in a real estate investors club in your area. Find an investor that will work with you on bird dogging a few deals for them. You don’t have to get a better job (which is not very realistic). You can do part time stuff that will not only help you build some extra cash, but will also help you learn along the way.
I love Rich Dad’s books. I’ve never heard anything about renatus… It sounds like a personal problem.
You’ve got a lot of quality feedback here. I would just add that regardless of what training you decide to take, it all comes down to your own effort, not some short cut, or high-priced access to money.
Frankly, there’s (MUCH) cheaper ways to find OPM than to sign up for a seminar, regardless of how good their information might be.
One of the more famous investors here in Southern California simply advertised in the paper, “Appraiser needs money to buy foreclosures.” Not the most elegant ad, and it might not apply to you, unless you massage the definition of “appraiser,” but it solved his down payment problems.
Another cheap way to find money, is to look up the private loans recorded at your county recorder’s office. You might have to go back a few years to find a critical mass of leads, but you do what you have to do. Meantime, these people, or someone they know, will either have money for your deals or become a partner. Either way, half/all your financing problems are solved.
Just look for private lenders on projects like you want to buy. Otherwise, it’s like looking for an eye doctor in the podiatrist’s section of the yellow pages (does anyone ever look there anymore?).
There’s so many ways to find down payment money without paying through the nose, that you should really consider what other advantages there are to this training other than access to money.
I could find you money in three days if you actually found a deal. My point is not “how-easy-to-find-this-is”, but the fact that it’s possible if you keep both your mind and eyes open. It takes courage to believe this is possible, I’ve discovered.
Meanwhile, Robert Allen’s got an ebook called "Nothing Down Techniques.pdf that I’ll forward to you at no cost, if you pm me. I would link it here, but my links are always removed.
I understand your need to get premium education as it will help however based off your situation I suggest getting free education and focusing building relationships with private money lenders to get your multi units funded. It mush more profitable to spend money on your business models.
I have gone to numerous seminars over the last twenty years as an investor. I have never spent more than $500 on any of them. I always have left feeling like it was worth it because even if they just refreshed something that I already knew, it helped. However, I have seen numerous people sign up for $30,000 seminars by these same speakers. I cannot in any way see how yuo can get that kind of value out of it. There are no magic bullets or secrets to be revealed. Just useful tips. Not 30k worth.
Ive heard very negative reviews about Rich Dad, and I recently saw a news special on how the Rich Dad scam works, it is very sad. If I were you I would look into Than Merrill’s “Fortune Builder” program. They are very reputable and are the real deal.
I agree with the posts and I am a firm believer in education. I go to seminars for a variety reasons such as keeping up to date in current market trends and also to network. You never know who you will meet at the event.
I have been disappointed at some events where it is all sales and no real “meat”. My approach is try to take at least one nugget of information from the event and apply to my business.
Curious to know from others:
What makes you sign up for an event?
Did you feel the Guru added value to your business?
What would you do differently?
Would you recommend certifications offered by NAR? I’ve been also thinking about Real Estate Express online school, but I’m not sure if it’s worth the time. I’m taking a gap year at The University of Kentucky (due to the serious health problems) and I think I must look for self-education courses on real estate, while I’m “chained” to my bed.
If you took the money you were going to put into a training seminar and put it towards a property you would learn more and already be investing in real estate.
You could also consider learning from a local investor doing deals using the same strategies whereby you trade your time for hands-on experience. And use the money that you would spend on seminars and/or courses towards your first investment property.
A great place to meet local investors is at monthly real estate club meetings and/or local weekly real estate meetings throughout the week in your area.
Try using www.Meetup.com to find the active once taking place in your area.
Good luck and happy investing.
Rich Dad’s books are very good! There are lot of useful information. I remember reading them for General development during my University years. I studied at the computer science Department. I had to fill my free time with books because unfortunately much of the theory taught in several subjects was irrelevant. I didn’t teach her at all because it was pointless. But I was surprised when the guys from Cisco Certification Exams managed to help me with this exam in just 2 days. Thanks to their help, I passed one of the most difficult exams and did not lose my budget place!
Rich Dad’s books and philosphy is good. Have you tried Bigger Pockets? If you have a significant amount of money to spend on a deal, then you should use that money to invest it or pay for a personal mentor. Someone who is already where you want to be in your investing career.
Don’t invest large amounts of money into training programs like this. Listen to podcasts, watch YouTube and get a general understanding and then start to take action. As you take action pay for professionals like a title attorney to help you. Having some money to spend on these things is better than sinking your money into a training programs. I am not against investing in education I just think you need to move forward a bit yourself and learn by doing, then you will understand what training is worth investing in and will be in a position to action the concepts straight away.