thoughts of rich dad coaching?

63 Replies

so i got the call from these folks, and they are selling the rich dad coaching to me.

3599 for 6 months of coaching. has anybody had experience with this or can some one shed some light on it. I am about to call and cancel my 50% down payment of 1800 dollars that i put up last night.

dan I did purchase on impulse and am pissed at myself for allowying a sales men to sell me of all people on buying into a program. with no evidence of success.

I have put in my request for a refund but am told i have alot of hoops to go through. I am not happy about it. I put alot of belief in the rich dad programs but feel like this was a sale to prey on people. I will continue to search for a mentor. I have several other people guiding me that I feel could make much better use of my money. but wanted to hear other peoples take on this program on here. so far i have not heard anything positive to support the investment.

and judging by the response of the company to refund my money i dont feel I will be doing anything other then reading the books at this point.

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dan at presently I have a business plan i am actively working on, I am currently consulting part time and work full time as an network eng.

my business plan should be complete in 30 days at which time i will engage in building my business 100%. I am also working details with my brother of purchasing some real estate in the slc utah area. we are currently looking at deals in slc.

I have written my plans for the next 18 months and have been sticking to them. I looked at coaching as a way to help me move in that direction i am already very modivated and driven to accomplish my goals and thought it would be a valuaable asset. however I feel that to much impulse was used to sell me on the product with out a chance to digest it. for that alone I feel compelled to request a refund as a valuable lesson to myself.

in addition to that I feel that the coaching offered was too vague of an offering to see much value. It was pitched as a team effort as much as a 1 on 1. and too many buzz words and fear of loss items where used which at the time, sadly i made a hasty decision. I admit i need to work on my dealing with salesmen so i still take a lesson from all of this.

my plans remain the same however i will sit back and take a breather to digest all that i have learned.

thank you for the post. It seems like it was easy to get caught up in the hype. I am def more grounded then i was say a month ago. My plans still remain the same. I would say that kiosaki is a great motivator for taking action and providing a broad education of terms but thats about it.

I have found this site to be one of the most useful items i have found for information and networking.

Keep up the great work guys You are providing an invaluable service!

We didn't even make it through the second interview! What a joke. Very pricy at US$8,995!

From my enquiry on the rich-dad-coaching website the first contact we had was from a pushy sales guy out of Utah who was clearly following a sales script. This didn't bother us as he sounded quite friendly and seemed ok.

The second call we had was with a lady called Katie. Right from the outset she had the tone of voice and attitude that she was doing us a favor! She came across quite arrogant and kept using stupid sales tricks like, "Is that ok?", "Do you understand that".. getting you to say, "Yes, yes, yes". Very annoying and condescending.

She made us feel like it was her giving US and interview! She asked all the typical questions like where do you want to be in 12 months, what's the 3 things you most want to achieve in life, etc, etc. Nothing new and something you can work through yourself from most business/self-help books available.

The big issue we had was that she refused to talk at all about the qualifications of the "coaches". Now from reading this forum I realize the "coaches" are in fact not qualified. She was asking to put all our faith in "Robert" as a guru and expecting that would gloss over the fact she was not providing us any information on the quality and experience of coaches.

She said Robert himself vets all the coaches personally and therefore that somehow defines the selected (sales) coaches as experts. From experience this is offering no more value than a person following a templated method or formulated guide. Similar to anything you can get from Action International (Brad Sugars) or similar.

We've been BIG fans of Robert Kiyosaki for over 10 years now and have read most of his books. I have to say however that the coaching side seems just like another business and cashflow generating opportunity.

We'll pay for good advice from experienced people and money is not our main concern. Katie quoted us a price of US$8,995 for coaching with no indication of how that broke down and what we get for our investment.

Richdad coaching is missing the mark from my perspective. We are highly motivated, aggressive and focused on achieving our goals.

We already own over $1,100,000 of property with good equity, have a business that is growing 50% + each year, projecting turnover of over $1,000,000 in the next financial year with good profitability.

We are not little bunnies that don't know the basic concepts and need someone to hold our hand. I fully recognize that we are early in our investing career and have a long way to go. So I guess that's why it came to a surprise to us that the Richdad formula put us into the box with everyone else!

When I mentioned to her our concerns around the reviews we're read on the Internet she said, "The Internet is like a Bathroom wall...". Well I say thank GOODNESS for "bathroom walls" that allow people to share their experiences, for free, with everyone else!

In summary, I'd love to get some coaching from experienced mentors to help us get to the next level from Richdad coaching or similar. Unfortunately Richdad coaching was unable to provide me any examples of their coaches’ experience, real world qualifications or otherwise!

I'm not signing up for that amount of money not knowing who my "coach/mentor" will be!

I welcome any calls from the Richdad coaching organization or people that can offer their thoughts.


P.S. in the end when I raised an objection to not knowing more about the qualification and real-world experience of the coaches, she said, "Ok, thank you for your candor and honesty, thank you and good luck for the future." Then proceeded to hang up on us! I could not believe it!
:shock: :shock:

After reading the responses hear we received a call from a Kyosaki interviewer. We have been buying and selling real estate for about 6 years. This coach named Rich from Salt Lake City turned out to be very taunting and callous after being asked about the specifics of how the program worked and his own investment experience (which was nill). We ended up hanging up on him 10 minutes into the interview. This program is a total scam designed to put money only into their pockets. I could not believe the arrogance of this individual. He actually got angry and long distance of course called me out personally as one man to another. No man would ever say those things to my face but he did so with my wife on the phone as well. Thank God he showed the true colors of the Kyosaki coaching program. My blood may be boiling but I'm not out any money!

i am a little leery of John T Reeds advice as he has not done a real estate deal in this decade. He seems like a bright guy and does have a good angle (dwell on negative) to bring in viewers.

that said - I have a slightly different story.

I signed up for RichDad coaching over 4 months ago and have been through 16 weeks of their mentoring. I have also read and underlined most of the RichDad books and listened to all of their CD's and all of their podcast.

I have found the program to be helpful - but it will not be the magic silver bullet to make you a real estate superstar. That is something that you will have to do - each and every day.

I have learned alot - and my real estate coach - Travis - has a lot of real world experience in single family homes and apartment. He challenged me each week to perform daily actions and we set goals. I did a ton of homework and feel like I have gained alot in the past 4 months.

in the end - the program is more about you - and what you will put into it. If you go to a gym and spend a ton of money and think that the Gym is going to make you an Arnold Schwarzenegger - then your sadly mistaken. Arnold put in a lifetime of discipline and money and time to get to where he is at. You will have to do the same.

I would spend $4k again tonite if I knew that I could push myself closer to my dreams and goals.

Today I have 7 quad apartments and 1 single family house - all 100% rented - this is because I devote myself to daily action, I learn through programs like RichDad and others books and CD's and Podcast - and get out there and get the job done. I say that with full humility having worked hard through sweat and backache to get to that point.

I encourage all of you to take the time to learn as much as you can to gain your financial freedom. I will be happy to answer any questions anyone has on the program (or others.. I have a full bookcase of books, CD's, DVD's and cassettes).

all the best to you all in investing 8)

I just remembered i had this info-

an interview with a RichDad Coach - Travis Martin, that we did back in January 2008 (recent info). You can read the interview here:

i hope this helps. Please feel free to PM or email me if you have specific questions about the program.

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Any coach you get, you should be able to work with them one-on-one. Then they should work with you at least 12 months.

Next ask him for the addresses of three of his properties. If he hesitates about giving you the information, then run the other way.

Thanks for the info. I'm actually in thier interview process myself. My question is with me being a novice investor and looking to get started, is Rich Dad mentoring worth the $4k+ fee? I'm in need of a mentor to get started with Multifamily/ SF homes.

That is a lotta coin!! What are the end results you are expecting? I only charge 197 per month and guarentee you makin money in the first 6 weeks of your 6 months. (I am not pitching here, I am only giving an example.)
I would not cancel right away, but I would call them and ask what you can expect out of the program. I would also ask if Robert Kiasoki is teaching it himself, or if you have his assistants helping you. It is important you know those answers prior to moving forward. Good luck :mrgreen:

P.S. With that said, I love the Rich Dad Poor Dad book!

Robert Kiyosaki is very big on licensing intellectual property. He licenses his name to various other companies. The Rich Dad training/coaching is a separate 3rd party company that licenses the "Rich Dad" name and pays a percentage of sales to RK.

There are videos on YouTube of folks directly confronting RK about the issues related to the 3rd party training company. RK did not do his homework before signing away his "Rich Dad" name to that training company.

I very much like his "Rich Dad Advisor Series" books, most of which are written by respected experts in specific fields, like intellectual property rights, real estate property manangement, gold and silver investing, etc. His more recent books that he authored, like Conspiracy of the Rich and Unfair Advantage are very good books.

I don't put much faith in John T. Reed's opinion about Robert Kiyosaki. JTR has long experience in real estate with mostly negative results, so he puts down many authors that claim there is a good living in real estate investing. Just because JTR failed in real estate, doesn't mean everyone will fail. JTR only self-publishes his own books these days and criticizes anyone else that publishes similar ideas on his subject matter, saying they are regurgitating his ideas.

Bottom line: Forget about coaching and mentoring. You're better served by spending a couple hundred bucks to buy an hour or two of time from an experienced real estate attorney that has the property portfolio to prove his skills and abilities. Who knows, maybe if you show some potential aptitude, he'll agree to partner with you?

Two cents worth. Your mileage may vary.

If you look up ripoff in the dictionary it should say "Rich Dad Mentoring Program". I have heard many testimonials, which means I have heard many people talk about wasting thousands of dollars they could have spent investing in real estate. I find it hard to believe that this program is still in existence and people are still falling into the trap!

Russ Whitney group went under due to problems. They then bought a franchise from RK so are back in business again. A lot of the same things that went on with the Russ Whitney group are now happening all over again. In an interview, he is aware of the situation, but is not doing anything about it.

Looks like this thread was started a few years ago, but since others may read, I'll put in my .02.

If I had the money to pay a mentor/coach thousands of dollars, I would just use it to get into my first property instead and attend local REI groups and read up here on BP. If you can't figure it out without a coach, you likely don't have what it takes because you are looking to get spoon fed.

If you need help with legal items like contracts, pay a lawyer to make them up for you (its not that expensive). He/she would surely explain to you how to navigate the forms you paid for.

I know nothing about coaching programs from RD/PD, but I do know that Utah is the leading state for sales floors and companies that use them do it for a reason. They are very good at "selling".

The best coaching programs - and YES there are legitimate and very good coaching programs that come with various price tags - are designed to help winners win. There is a certain type of person, often someone very entrepreneurial, who will excel under a good coaching program. Not because they couldn't figure it out on their own, but because they are conditioned and open to following a proven path and they succeed.

Now if they could figure out a way to not "sell" to people that don't fit - we wouldn't have anything to talk about!