Rich Dad Education course... Was it worth it?

39 Replies

Hey there, 

My name is Logan and I am new to Bigger Pockets.  My first question for the BP community is about taking more advanced Rich Dad Education ( now called "Legacy Education") courses.  I went to the free seminar this morning and while I did enjoy my self I thought that they were aggressive with the sales of more advanced classes.  I love Kiyosaki's books but was a bit turned off by how aggressive they were today.  

They are asking $700 for a 3 day course called "Legacy Education".  I am a little uneasy spending that money without ever hearing from outside sources that the programs are worth the price. 

Have any of you ever attended a paid Rich Dad Education course?

If so, how was it?  

Was it worth the money/time?  

Thanks for your insights!

Hey Logan,

My name’s Vince. I literally just left a Legacy Education 3 day seminar. Honestly I have mixed feelings. I have no real estate investing experience and was super hyped about attending. The first day me and my wife attended was yesterday. We discussed a couple strategies like wholesaling and foreclosures, also the formulas associated with them. Nothing I haven’t hear or seen at other seminars that were free. As we wrapped up for the day, they had us go home and fill out these forms. Basically stating how much we made, assets, goals and what our credit scores looked like. Didn’t think much of it. Until today when we arrived to class to hand in our “strategy guide”(the form with our credit, goals and assets). The guy who assessed us literally glanced at it for 5 mins and didn’t really discuss any strategy. So half way through the day the speaker (who was very thorough at what he did) aggressively starts trying to sell us on spending between 20k to 60k on software and a mentor to walk you through the real estate process. Honestly I want to learn, I don’t want anyone writing deals for me. And then when they leave I can’t write my own deals. Or I have to give them half or more because I let them do the work. Idk this really turned me off. Another thing that I don’t understand is how they are using Robert Kiyosaki image to draw people in. I asked about and if I heard correctly Rich Dad Education partnered with them. Idk... I did learn a few things but it’s nothing you can’t learn from your own research. $700 lesson. I won’t be attending class tomorrow. Lol

@Logan Aardrup You'll make someone's dad rich, it just won't be anyone in your family. 

Honestly, most real estate gurus are the equivalent of the modern day snake oil salesman. Most of these folks can't/don't have a real job. They also have ZERO investing career. 

Ask yourself a simple question: "If this person has such a slam dunk strategy, why is he teaching this to you (a newbie) for $700 over 3 days?" 

Save yourself time, effort and money and learn through books, podcasts, blogs, etc. Follow that up with networking in your local market with investors by attending REIAs and meetups (although both have now become pitch fests for shady gurus). 

Try to find the successful people who are not selling you anything or do not offer any gimmicks. These can usually be identified as the few sober people not beating their chest and talking about their "massive" returns.

Take these sober, successful folk out for coffee/lunch (pay for it, don't let them) and offer them a ton of value. Don't keep pestering them with stupid questions that you can find the answers by a simple Google search. 

Stay in touch, keep adding value and you'll be ahead of scammy gurus and amateur investors in no time. 

You just bought Robert a nice new pair of leather dress shoes . There are no get rich secret strategies bro . Just stay on here and do your research ask questions read posts and learn 

@Omar Khan , Thank you for your thoughts.  I couldn't agree more.  After I posted my question to the forum I got online and started doing a little digging.  Rich Dad Education seems to be a total scam.  Along with hundreds of articles, blogs and posts about how shady and aggressive the Rich Dad Education series are I found a 20 minute "Canadian Dateline" investigation that took cameras undercover and inside the 3 day class.  It was appalling.  After watching that I have been disgusted by the thought that people use the guise of "education" to get people to raise their credit limits and get further into debt to buy their software and take their course. 

That being said, it was a very valuable lesson to learn.  These people are good at swindling. It was a good reminder to be constantly vigilant because people are always trying to take you're money.  

I am moving to a new state but  just through a couple conversations with friends I have already found a new contact in Missoula who, ironically enough, is a very successful banker.  I am going to be needing one of those! I am very excited to see where that relationship will lead.  

Does anyone have any suggestions on good books to read?  I have read many books so far but am always looking for more information.  

I know of someone who took the course and paid 25,000. I know can get a better education just by networking with the people who are investing in real estate already. The heavy hitters in your market are you best source of knowledge. How do you find them? Go to your local REIA meetings and network, network, network! You can also look for them here on BP.

@Logan Aardrup As @Dennis M. said, there are no secret strategies. This free lunch strategy is both pathetic and trite. 

@Noel Challenger has said the truth - network, network, network. You'll learn more from reading proper books (not self-motivation BS packaged as a book) by real practitioners and networking.

Added bonus: You'll not expose yourself to scammy folks... lol

Why not spend hours on here researching, reading old threads, and connecting with like minded individuals? That'll get you more than sitting in a chair for 3 days listening to a guy after quick cash.

Hi @Logan Aardrup and welcome to BP. I too real like Robert Kiyosaki's book have almost all of them. I then even went so far as to purchase the coaching course (very expensive) and to be honest it was disappointing. I wish I would have no taken the course and invested the money else where, but live and learn. So I would say just to learn here on BP (even better) because you can ask questions in the forums to TONS of successful investor and to top it off it FREE. Don't waste your money as I did. 

@Omar Khan  I'm not sure if I was misleading in my last post but I want to make it abundantly clear that I am NOT in any way looking for a "secret strategy" or a "free lunch".  I am extremely disappointed that Kiwosaki would lend his name to such a low brow organization.  

My question was if anyone out there could point me towards any specific real estate book titles?  I am fishing for new titles that I have not already read.  

Originally posted by @Vince Mack :

Hey Logan,

My name’s Vince. I literally just left a Legacy Education 3 day seminar. Honestly I have mixed feelings. I have no real estate investing experience and was super hyped about attending. The first day me and my wife attended was yesterday. We discussed a couple strategies like wholesaling and foreclosures, also the formulas associated with them. Nothing I haven’t hear or seen at other seminars that were free. As we wrapped up for the day, they had us go home and fill out these forms. Basically stating how much we made, assets, goals and what our credit scores looked like. Didn’t think much of it. Until today when we arrived to class to hand in our “strategy guide”(the form with our credit, goals and assets). The guy who assessed us literally glanced at it for 5 mins and didn’t really discuss any strategy. So half way through the day the speaker (who was very thorough at what he did) aggressively starts trying to sell us on spending between 20k to 60k on software and a mentor to walk you through the real estate process. Honestly I want to learn, I don’t want anyone writing deals for me. And then when they leave I can’t write my own deals. Or I have to give them half or more because I let them do the work. Idk this really turned me off. Another thing that I don’t understand is how they are using Robert Kiyosaki image to draw people in. I asked about and if I heard correctly Rich Dad Education partnered with them. Idk... I did learn a few things but it’s nothing you can’t learn from your own research. $700 lesson. I won’t be attending class tomorrow. Lol

 If I paid $700 I would DEFINITELY attend a the days I could. 

Originally posted by @Logan Aardrup :

@Omar Khan  I'm not sure if I was misleading in my last post but I want to make it abundantly clear that I am NOT in any way looking for a "secret strategy" or a "free lunch".  I am extremely disappointed that Kiwosaki would lend his name to such a low brow organization.  

My question was if anyone out there could point me towards any specific real estate book titles?  I am fishing for new titles that I have not already read.  

I’m not surprised at all

It is well known most of rich dad poor dad is made up 

Before investing in anything I always google the name of what I am looking at and add the word scam.   The info is often readily available if you want to find it 

Yeah I liked Kiyosaki's books but from what I understand the coaching program has nothing to do with him, he only licenses the Rich Dad name. I would save yourself some money and just read the Rich Dad Advisor books if anything. Kiyosaki's actual books aren't really about investing. Andy Tanner writes books about the stock market and uses the Rich Dad Advisor name for publicity. Ken McElroy writes about real estate. Tom Wheelwright about tax strategies, etc. Read the books by the actual experts. Kiyosaki himself mostly just writes about mindset. 

Hi, 

I took some of the Rd courses.  They were good BUT   Bigger Pockets has most if not all that you need.  Come live here and you will get educated.  Have a good night.

Thanks 

Neil

Looks like I'll be playing devil's advocate here as compared to most of the responses...

There are a couple undeniable points people are making-- you can get a ton of info on BP, the Rich Dad courses have intensive amounts of sales pitches intertwined in them, and it is very dangerous to jump into one of those expensive courses. 

However, in my experience, there are ways to make everything work for you. I personally did the 3-day Rich Dad course (back when it was $499 and you could bring someone free). It was easily 60% aggressive sales pitches. However, the 40% that was actual information I found to be useful, accurate, and supported what I was trying to learn. I easily got $499 worth from it. 

It literally takes only one key line that you hear in one of those seminars- Rich Dad or anyone else's- to make your real estate investing career, and make the money you spent on it worth it. It's all in how you approach the seminar. If you know there will be sales going into it and your only focus is to seek out the key information that will be useful to your career, then it can work.

I agree with one of the other posters though that long before you do any of the seminars, you can start much more cheaply with the Rich Dad books. Start there and if all those books really resonate with you, then do the 3-day. Certainly don't upgrade to the $5k or $25k seminar from there right away, but you can get key info from the 3-day if you go in with the right mindset. But, start with the free (BP) and cheaper (books) stuff first and gradually build up. That's your best protection from spending a fortune on what turns out to be irrelevant material.

I wrote this awhile ago, not sure if it helps or not-

https://www.biggerpockets.com/renewsblog/2014/05/1...

For what it's worth, I can say absolutely for sure that I would not be where I was today without having read some of the Rich Dad material. Certain points I learned in his books are clear as day in my head and kept me going through my journey. People can say what they want about him, but honestly....who cares if the rich dad isn't real?? The points are no less true. I've never read a thing of his that I didn't find to be helpful and accurate. And I never did more than the 3-day course of his nor do I work for them or make any commissions for saying that.

I attended a weekend "Rich Dad" conference at the end of 2013. It was only $179 for the 3-day conference, if I remember correctly. 

It included several speakers and overviews of how to make money in real estate, but little depth about the process. It was enough to pique my interest, but not enough for me to sign up for a $20,000 to $50,000 course of education and training.

For a short while after that, I went to a few conferences hosted by another guru group that boasts training course that are organized along the lines of a university curriculum, with basic classes that lay the basis for more advanced material.

My conclusion was that those courses were well-organized and the material was good, but the organization itself was geared toward bringing people into the fold to sell more course materials to other people. Some of the participants professed to be involved in real estate, but the bulk of them were just trying to make commissions from selling the courses.

That formed my criteria for any guru program: ask the teachers/gurus about their own past and current participation in real estate investments.  If they spend more time preaching than practicing, I stay away from them. I believe you'll get more usable training and guidance from people who are in the trenches of real estate investments rather than from the gurus who earn the bulk of their income from teaching.  

@Logan Aardrup @Vince Mack

I feel I have enough experience about Rich Dad to provide some helpful feedback. A few years ago, I dropped a few G's on a Rich Dad "coaching" program. This program required weekly call-ins to an expert that led the one hour lesson. As I recall, there were 10 or 12 lessons. There were homework assignments, which I found minimally helpful and informative. I have to say, however, the course was definitely not worth what I paid for it. Come to find out Robert Kityosaki, although I find his books inspirational and motivating, basically produced a marketing strategy full of hype about real estate then sold it to a third party who uses his likeness as a catch. I think Robert receives royalties from it, but the "program" is actually independent of his teaching. I found the program to be deceptive and, in fact, we (the "students") were flat out lied to in several occasions. For example, our "coach" mentioned in one of the first weeks that Robert Kiyosaki himself was going to make an appearance on the call-in and we students would have the opportunity to pick his brain. That never happened. In addition, the Rich Dad company sells the contact information of the people who sign up to other parties. I received more than one phone call from companies claiming to offer a service that helps people establish an LLC, obtain a business credit card, and help build their client's business credit worthiness by making purchases on said business credit card on behalf of the client without providing advance notice to the client! I never fell for this, but later found out that many people were taken advantage of financially and ended up filing for bankruptcy.

In short, The Rich Dad program, I found, is at least quite shady and at most a scam.  Recall that Robert Kiyosaki and Donal Trump wrote a book together and they are good friends, as I understand.  They seem to share similar practices with making promises they never intend to fulfill. Take Trumps real estate school, for example.  Total scam. 

In any case, I have found that the information contained on this site through articles, ebooks, podcasts, blog postings, etc FAR outweighs the little information I gained from the Rich Dad program.  In fact, the information I did gain from the program can easily found on this site for FREE.  My recommendation to you is that this site is pretty much all you need in terms of education. 

Hope this helps and best of luck,

- Chris

@Logan Aardrup

" Most lessons in life are free.............but the ones you learn the most are the one's you pay for". 

Bigger Pockets has all this free information, podcast, forums, Q&A from experienced experts in the RE field, etc. You can learn more from BP than you will with these guru courses that charge thousands. However, 90% of the people on BP will never take action, as quoted by Brandon Turner himself.

It is human nature to doubt what you can get for free, while placing high emphasis on seminars, courses, tapes, books, etc., while getting charged thousands.

Thus, when you are scammed out of thousands........you would have learned a valuable lesson and will remember for life.

Terry

I have to admit that what they are selling is mere education. You must understand that. There is not formula to success, you make your own way to success. The reality is that the 3 days course give you an idea of many things you are unawared. However, I hae to say that I have learned so much from this site and the price to be a memeber is a great one.

Originally posted by @Miguel Dormany :

Hi @Logan Aardrup and welcome to BP. I too real like Robert Kiyosaki's book have almost all of them. I then even went so far as to purchase the coaching course (very expensive) and to be honest it was disappointing. I wish I would have no taken the course and invested the money else where, but live and learn. So I would say just to learn here on BP (even better) because you can ask questions in the forums to TONS of successful investor and to top it off it FREE. Don't waste your money as I did. 

 Thank you so much for posting this. I am in Tampa as well and literally just came from day 2 of the three day seminar. I get that they are trying to teach you to leverage debt, but to use that for just education,  without deals, puts you behind the curve. I knew the right answer, just needed soneone to say it. Thank you.

We bought a course through fortune builders two years or so ago for 20,000. It turned out to be a great opportunity. It’s a life time deal, they put on free seminars all over the country, a wealth of information not only on how to but how to build a business! The systems are awesome. People pay thousands of dollars to go to college, your going to pay money for your education one way or the other! BP is a great community everyone is really helpful. We started with no money and are on our fifth flip.

All these types of education are usually not worth of it, those knowledge might be good, but I believe you could get there here on BP easily for free, just timeblock 30 mins to spend on BP every single day, I'm sure you'll learn all those things.