I am very interested in knowing if anyone has attended Robert Kyosaki’s Rich Dad Education and then went on to their advanced training in investing with Wealth Intelligence Academy that Kyosaki has partnered with?
The cost of the training starts at $9k upwards to $44k. I love creating win-win situations, problem solving, and want to make a career in real estate investing. I have seen other options and want to further my education in a cost effective, efficent way. :help
Robert has some good books - in particular “Rich Dad Poor Dad”, “The Cashflow Quadrant” and “Rich Dad’s Guide To Investing” - but you can buy all of those for under $50. Don’t bother with some seminar like that though. $9k to $44k is a big waste of your money
I’m not a believer in seminars. For the kind of money you spend, you could make a down payment on one or more properties. Everyone start with just one. I started in '97 with a partnership and in 2000 moved into doing it myself with a duplex. Now I have 30+ units (I have a full-time professional career outside of this). I’ve never been to a seminar but I read like a madman, always talking to people (espeically ones who know more than me), networking on occasion at local events. PLus, I have a very specific strategy that has evolved over time, I always have a goal for next 1-2 years. My point is like BLL said, what do you want to do flips, sub2, rentals? You need to start in a niche and become and expert. Additionally, you need to pick a market and become THE EXPERT. Be able to tell your realtor what properties are worth (and why). They don’t teach that kind of stuff in seminars.
My $0.02: What can you get for 44k? In Georgia, that’s 4 years of in-state tuition/room/board. Or you could buy a resonably sweet ride. Or put it in a mutual fund and let it grow. Or get books from the library and, as another poster said, start investing in properties with the 44k. Just food for thought…
shiva Rich Dad is great motivation. But they have no idea how to make money in your town. What I did is what I advise you to do. Find somebody in your town doing what you want to do. Do exactly what they are doing. Don’t reinvent the wheel. If they charge you then pay them. The MOST I have ever heard of someone charging is $5,000. I know you can find someone to show you for $1000 and I bet you can get that help for free.
Not to sound rude, but you are basically the type of person these programs are geared for … You’ve read enough to “taste” the freedom of financial independence, but you still have the fear inside you that keeps saying “One more seminar, and I’ll have the knowledge I need.”
If you’ve read Kiyosaki’s books and you’ve researched the ideas on this site and others, you ALREADY have enough information to get started. Sure, it’s nice to have someone who’s “been there and done that” to hold your hand as you trod along, but (as these programs have shown) that type of education is usually expensive. And, who is to say you’ll actually learn enough to do anything afterwards?
My best advice would be to fill in any holes by researching here and other places, and to ask questions (again, here and other places). There’s a point when you have to tell yourself “ENOUGH!” and actually DO something besides reading another book or attending another seminar. Go to your local REI club and mingle and get to know the players. Start researching properties in your area and coming up with financial statements to see if they are good buys (and, if so, who you can give the information to in exchange for $$$ or knowledge).
I read ONE book by Kiyosaki (Retire Young, Retire Rich), and started researching RE investing here and other places. In 3 months I made my first offer. In 4 months I had my first property under contract. I never attended ONE seminar - my only education was that ONE book and what information I gathered here and other similar online sites.
shiva, hold on to your wallet because you’ll be fleeced otherwise. For some folks, a mentor is a blessing. I know mine made a difference in my life. But I know others who, despite having all the smarts and knowledge needed to be real estate success stories, never do a thing with that know how.
My advice is to focus on one area of real estate investing to start, just one. You can’t be all things to all people right out of the box. Then, ask yourself if you are ready to do what it takes to succeed. If the answer is yes, find a mentor who you can relate to and work with, and get it on! Best wishes, shiva!! :smile
Funny, me reading this as the Comast Guy was at my door and I mentioned I work from home as a Real Estate Investor and he told me he spent $495.00 in Washington recently for Rich Dad Classes for like 2 days and he said they touched on a lot of subjects but no real meat.
The main thing he said was they wanted him to get mentoring from them for about $20,000.00. They told him they come to his area for 3 days and show him how to do a deal?
Has anyone here ever done the $20K (or there abouts) program to offer real feedback.
I myself have read all his books and found some value in them.
My company had an inventory sale the other day and they had the Rich Dad, Poor Dad on book and CD for about $2 each. I thought about snagging them up and eBay’ing them. In any case, I talked one of my fellow co-workers out of buying them on the grounds that Bob may be more of a book writer and salesman than someone who actually follows his own training. Should I feel bad about that? :evil
The Rich Dad books are decent for the price. That’s as far as you want to take them. Kiyosaki will never give you a “roadmap” on exactly what to do. But the concepts about money and financing are good. There are plenty of other books out there. There are three books that I’ve found extremely helpful.
“The Millionare Real Estate Investor” by Gary Keller.
“The ABC’s of Real Estate Investing” by Ken McKelroy.
“One Minute to Rental Property Riches” by Michael Rossi (Propertymanager).
You can also go on ebay and get an updated Carleton Sheets course for about $40 - $60.
I went to a seminar and then had people calling me from that place to be my mentor for thousands of dollars. After reading books and talking to people and learning about different demographics, the hardest part is taking the first step. Jump in, make mistakes, take risks, get experience. No one can take the risk for you.
The best thing I found - a demographics company that will give you all kinds of information on emerging areas or markets of the country. Some even have brokers that share properties with them in those markets. Buy the research from a professional if you are not investing in your own market.
Yes i’ve purchased the RichDadEducation/Wealth Intelligence Academy classes. In fact, i have one more class yet to take.
I didn’t purchase all the classes…just 3, which you can retake for no charge as a refresher. You also get a number to call in case you have any questions about particular subjects as well as the instructors email address to ask questions at any time.(They respond very quickly) I wasn’t about to pay $30,000-$50,000 for all the classes, but i wanted to get my foot in the door with a few.
Looking back on the decision, I could have gone on the internet and gotten some less expensive more cost effective packages/books/etc but I needed to take action…Good or Bad, Costly or Not.
Also, there are very few people in my area who are willing to teach or let me learn from them. (Everyone is a Realtor-mostly looking out for themselves) I needed something…anything to get me to the point of gaining knowledge and this was the first thing that really looked appealing.
They do go into a great deal of detail in the classes and my teachers so far have been great.
Knowing what I know now…would I do it all over again…no. Was I proud that I took action towards my goals…yes.
I’m slowly gaining confidence and should be doing my first couple of Sandwich Lease Option deals very soon. Needing to pay off the classes is a great motivator!LOL
I’ve invested just over $200 in books & a course. I don’t think that you have to spend a great deal of mney to get a solid knowledge base, a goal and a plan. At some point you’ll have to realize that no amount of education will truly prepare you for the real world. You’ll make mistakes, learn, and move on. Good luck.
I agree with most of the people on here about choosing a specific niche and making it your specialty. So find an aspect of real estate investing that you like, and research the crap out of it, reading, networking, chatting, posting etc. You don’t need an expensive class or mentor. And from what I have learned so far, dont waste any more of your life watching, make a move. As people are seeing this market tumble, it can be in our favor to get into some investing. If it turns out to be bad, it will motivate you to make a better one next time.