BiggerPockets

Just curious if anybody has had any luck getting their money back from a guru? I signed up for Rich Dad training over a year ago and have taken 2 of the 4 classes we paid for. We were at a point in our lives when things we difficult and took the plunge. Fell for their trap, hook, line and sinker. We have taken the wholesaling and lease options class and ran into some snags when we attempted to apply what we learned. We have 2 more classes to take but if there is any chace we'd much rather get our money back. I know it's a long shot but I thought it was worth asking.

Heather

Hey Josh,

I'm pretty sure it is, I just thought there might be some loop hole I was unaware of. Regardless, we are moving forward and will take our other classes. I'm not saying I haven't learned anything, I just now know there are other ways to learn. (less expensive ways) As I've read time and time again, these classes tell you all the good stuff, we're learnig the bad on our own.

Thanks for your reply.
Heather

I stiffed one.....kinda.

I bought the program on one of his "financing deals" to be paid after the program. The program was nothing like what he promised. I kindly informed him I would be paying for the training I ordered when I receive it. Still haven't paid for it and I haven't heard anything for a couple years now. Don't expect too. He had other dutiful pawns who kept writing him checks.

It's nice to know I'm not the only sucker out there. We had 3 days to cancel, I actually did call for a refund but the man who answered the phone was so kind...He talked me through my fears and said he understood how I was feeling. He felt the same way when he signed up for the program. He said it paid for itself time and time again. I believed him. LOL. Lesson learned, but boy was it expensive!

I think getting your money back would be an uphill battle. Maybe they will let you extend your classes. Education is great but if you don't use it then it is worthless.

The key to getting your money back is to understand your credit card companys chargeback policys.

Some companies will fight for your rights than others

If it is any consolation, I lived in neighborhood with Robert Allen in his early days. His No Money Down got him and a lot of people in trouble. We used to argue about that. Later , he moved to CA and declared(check public records to finish this sentence) and then started doing it again. What goes around sometimes goes around.
P.S. At the time I knew him, he live on the Osmond Lane in Provo, Utah.

sell it on Ebay for half price?

I take courses from time to time and read loads of books, and yes I have definitely gotten refunds on a few, but others have been priceless to me. I'm pretty clear on what I want and what I think will work for me personally.

If you have a decent reason (personal or financial or just not satisfied with product), call and ask for someone who is actually in charge where you bought it, explain your situation clearly, don't be too nice or rude, just be respectful, honest and clear. If you have a good reason and you are smart about it and persistent, it is likely you will get a refund unless it clearly states no refunds in the agreement. Don't get stuck talking to operators or salespeople or secretaries, don't send letters or emails, call someone who is in charge in person, usually they are decent people, and if its in reasonable time, and you have a good reason, chances are you will get a refund.

I had to get a refund once when my friend was deployed in the military (no time to take the course, and lost interest in it). Another because I found a course the same day I liked better. Once I misplaced my passport and couldn't attend. Another I resold on ebay (when I was really new I couldn't afford it), I think I bought that one on Ebay too. I've also gotten refunds on memberships but sometimes had to pay for the time that had lapsed. Don't get me wrong though - I buy a lot of courses/books, and refunds are the exception. But they do happen sometimes. I've probably learned more from reading books and taking courses as an adult than I ever did in any public school system, excepting private business schools which were excellent too.

The most expensive course I ever took was the $5k Robert Allen protege course and frankly the best I ever took. It's a perfect fit for me but I don't think it is for everyone. Real estate investing carries risk and people need to acknowledge that, also if you are a true entrepreneur at heart you will find a way to succeed, not everyone will try as hard as you, and most will probably give up because they don't have the heart to see the vision through. I'm an artist before anything else and that is why I took that course because it is the perfect business model for me. Even U2 owns real estate and has multiple streams of income. But not everyone has my personality type and my drive, and if it's not for you, don't buy it. Almost always you can step away and decide later, even when people say you can't. As for getting a refund, it may be possible, or it may be a deal is a deal, and unless you ask, you won't know.

I filed a complaint with Better Business Bureau, and am looking at Attorney General's site. The Rip-Off report site is chock full of stories just like mine. I can't believe I was so foolish. one of the kind readers/investors out there might have some information for me, so I'm waiting for that. thanks
Fran

I got suckered into one of those '30-day-trial' thingies with Tim Mai and when I tried to cancel before the thirty days were up, I came up against emails that were not answered, phone lines that never picked up and chat requests that just hung in limbo. I sent a request in writing certified mail and it was signed for . . . suspiciously late.

However, I took it up with my credit card company, printed out the initial email request and a copy of the letter I'd sent and faxed it to the disputed charges department. When I finally got the option to cancel (a few days after the charge, hmmmm) I went through all the "are you really sure?" pages and made my way to the big red cancel button.

To their credit, I was refunded in full, so I'm okay as far as that goes, but man, they didn't make it easy. Lesson learned.

I recommend reading the fine print when you sign up and find out how you get out, if you can get out, before you put down the cash for it.