Rich Dad's Advanced Training?

Question

Has anyone attended the rich dad advanced training courses?  They cost several thousand dollars, and I was a little skeptical.  Has the training helped anyone or would you recommend real life experience?

Mark A. · Answer

Don't do it! Once you get there it's just yet another series of up-sells. I haven't been (not a chance in hell) but know someone who did and that fool has so far spent over 17 grand on BS!!

Anne * · Answer

Google Russ Whitney or Wealth Intelligence Academy. It's the same program, rebranded under the Rich Dad name.

I have spent tens of thousands on REI education, and many of programs I've been to are worth every penny.

I was extremely unimpressed with the $500 training, and we did not sign up for further education. In fact, I was so disappointed, I wrote a long rant in the RDPD forums (which has probably been deleted by now).

I love RDPD, the book that "started it all" for us. But I can't recommend this training.

Account Closed · Answer

Thanks for your input.  My gut feeling told me no-- I VERY MUCH appreciate the confirmation.  I think I will do better with real world experience.

Ram Chandrasekaran · Answer

I totally agree with Brad!! I was a Rich Dad's Coaching student and spent $5600.00 when I was already in Credit Card debt (beginning of 2007). However, the good thing that happened was it made me THINK about 'CREATIVE FINANCING', websites to do (PRELIMINARY) due diligence on properties, Fair Market Rents, etc. Yet, it is for people who are not self-motivated and kinda lazy. Yes, I said it! I was lazy... now, I gain knowledge through books and not from coaching classes. To me it was GOOD! Overall, I would rather you motivate yourself and read LOT of books and network with people!

As for 9thIsland's question, for your lease option, I would suggest this book that I borrowed from the County Library couple weeks back. Although it is NOT exactly Lease-Option, it is really good to get you started. They talk more about Foreclosure and Pre-Foreclosure and how you negotiate. Very Interesting stuff!!

"Making Big money investing in Foreclosures without Cash or Credit" by Peter Conti and David Finkel. If I were to knock on doors for Short Sales, Subject-To, etc. I would use the dialogues they have in this book. Interesting read! - For FREE this is GREAT Information to ME. :)

Cheers
Ram

Ryan Murakami · Answer

I signed up for the cheapest package (two courses, software, no mentor included) and I have mixed feelings so far. I took the wholesale class and I liked it but now that Ive found sites like this, and have gone to several REIA meetings, I feel like I couldve got just as much info on my own.

Now Im trying to decide whether to take the lease-option class or the profits in probate class next. They also offer creative financing, rehabbing, and property managment courses. Any suggestions on which class to take next?

Brad Mcleod · Answer

I agree wholeheartedly.

I spent a fair amount on the RichDad coaching but in the end, I had to get up off the couch and get the job done.  The RD coaching pushed me - but I also had to push myself.

Getting out there and driving the streets, writing down addresses, writing letters, talking to owners, making offers and finally getting to a closing - are all made up of daily actions that you have to take to move yourself forward.

The courses help - but in the end - you have to help yourself.

Account Closed · Answer

I just wanted to chime in and first state I have never had any involvement with the RDPD training stuff. I know the company has changed massively in the last few years. I even heard there was a major rift between the publishers of the RDPD stuff and Robert Kiyosaki himself prompting him to have his wife Kim's stuff done differently.

Here is what I will say, you can go to any training you want, pay what ever amount you want. In the end, to me at least, it is all about motivation to get out there and start doing it. Regardless of how you say you learn, there is no better way than to get into the fire. If you don't want to risk your own money on your own investment, how about you go to a local club, find an investor that is DOING IT, and volunteer your services, YES I SAID VOLUNTEER or even offer to pay a little something. After all, you will be learning on their dime and from their knowledge.

Brad Mcleod · Answer

I am currently in the Rich Dad Coaching program ($4,000) and have not been approached with an upsale.

I think that in general a course is really what you make it.  I read all the books and had daily action items to perform.  I learned a few things but in general the course (Rich Dad) made me more aware that I need to improve my financial IQ.  That said, I listened to 4 hours of podcast today and have been working (and learning) on my blog tonite.

I bought (with a partner) 2 short sales in the past 3 months with $140k in equity.  I think that part of that had to do with reading lots of books, applying action items to the real world and having a positive attitude towards learning and growing.

my goal is to learn a few things from Rich Dad and apply them and get out of the rat race by November 2008.

Tom Sylvester · Answer

I am in the middle of taking these courses now.  My partner and I are splitting the cost ($15,000).  Here is my take.

The first seminar, Learn to be Rich, cost $500, so $250 each.  This "course" was 100% worth it.  Beyond all of the sales they tried to push on you, it was a great overview of real estate and the opportunities.  This was enough for me to end up getting started in real estate, but I thought I needed more.  My partner and I signed up for 4 advanced courses.

The first course was an overview, just like what was learned in Learn to be Rich.  They just got into a little more detail.  This course did also give some motivation to get started.

Prior to taking this course, I had already begun looking around for properties, building my team, and all of the other things I needed to do.  I had my eye on a fourplex as well.  About 2 months after taking this course, my partner and I closed on a duplex.  We have not even taken the other three courses yet.

I regret signing up for the advanced courses, and also do not regret it at the same time.  I am not really impressed with how the Rich Dad company runs things.  They constantly want more money, and obviously don't care about you once they get your money.  The $15,000 that we spent on the advanced trainings, along with cost of travel and hotels is a lot of money.  To put it in perspective, the duplex that we purchased cost $26,000.  With the $8,000 that we used to purchased the property, we would've almost paid it in full.  You can learn everything you need from your local reia group, books/courses off ebay and just by doing it.

The reason I am happy about the course is that they got me started in real estate.  I regret spending the $7500, but if motivates me to be successful.

All in all, I would not recommend these courses, and would instead recommend local reia groups, books and hand-on experience.

Mami Terai · Answer

I Just attended the "Learn to be Rich" seminar last weekend for about $500.  I still wonder if it is worthwhile to take advanced courses. Yes, it's really expensive, at least for me, like you have to put minimum $12,000 to get a mentor, provided that you share the cost with a partner.  (Advanced 3 courses each 3 whole days, 3 day personal mentoring and life time access to a mentor and 14 day free software.)   If you take it whole by yourself, it would be $24,000.

There might be a cheaper way to learn. Does it get me PLAN and START rightly? Is mentor system so effective?  (I assume that the whole point of the advanced courses is to get a good mentor.)

I could tell that the whole system, the first free seminar and "Learn to be Rich" seminar, is very well crafted to sell these expensive courses, and honestly, I did not like the way they do, like if you sign up on-site at the seminar, the tuition will be somewhere 30 to 40% off.  (The above price is the on-site price, btw.)  However, is it still worthwhile?  Does anyone have positive experience?