Rich Dad "Advanced Training" seminars?

Rich Dad "Advanced Training" seminars?

Real Estate Investor · Eugene, OR · Member since 2008 · 10 posts · 8 votes

Has anyone taken the plunge and attended any of the "Advanced Training" courses put on by the Rich Dad Education company? Last fall I attended a three day seminar put on by Rich Dad Education, but because of the steep price (and some mental red flags that went up during the seminar), I declined to sign up for any of them.

The first warnings started sounding as things got underway the first day when we were forbidden to network with anyone during or outside of the classroom, we weren't to challenge any of the ideas of the instructor, nor were we to conduct "research" on our own by using the Internet. They also wanted to protect their "proprietary" information, so they wouldn't allow you to record any of the sessions. Note taking, it seems, doesn't seem to threaten that.

I later came to find out that the Rich Dad Education seminars were essentially repackaged Russ Whitney products, and many people feel scammed by the whole process.

I understand that the basic training seminar is mostly motivational in nature and is designed essentially to upsell the attendee into purchasing one of the "advanced training" seminars that deal with a specific area of investing, anywhere from wholesaling to large development deals.

The basic training courses are $495, and if you can withstand/ignore the high pressure sales tactics, I felt that I did actually receive my money's worth in terms of knowledge and useful information. But the advanced courses range anywhere from $7,000 all the way up to $45,000, if memory serves. That seems like a ton of money, but if it's something that returns your "investment" back to you in increased profits from doing better RE deals, then I would assume most would feel the high cost would be worth it.

My question is, has anyone attended any of these courses, and if so, do yo feel that you got your money's worth by attending? I see precious little information anywhere on the Web regarding reviews of these more expensive training courses.

Perhaps attendees sign contracts forbidding them from talking about their experiences? I figured this would be the place to find out.

Todd

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Real Estate Investor · Las Vegas, NV · Member since 2008 · 1k+ posts · 447 votes
18y

Understand that the Rich Dad Seminars is a marketing company. They give you a “free†seminar so that you’ll buy the $495 class, the $495 course is used to sell you $7,000 advanced course. The advanced course is designed to sell you the mentoring program. It’s all about upselling, they want you to believe that you will find out the success “secret†at the next class. The reality is that you learn by doing, did you learn how to ride a bike by going to a seminar? No, you learned by falling down and skinning your knees, then you got up and did it again. Education classes are your training wheels but until you actually get out there and do it you will not learn how to really be successful.

:cool:

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  • Real Estate Investor · South Portland, ME · Member since 2008 · 33 posts · 0 votes
    18y

    Taz,
    What are your thoughts on John T Reed as I see you referenced him earlier in regards to the book being fiction. I read that site a while back and have googled him and it would appear to me that his platform is based on slinging mud and putting down every one elses work but his own (which of course he promotes throughly). So just curious Taz if you have read any of his books or what not and what you think about him since you reference him? This is quite the thread we have going on

  • Manhattan, NY · Member since 2008 · 801 posts · 61 votes
    18y
    Originally posted by Kevin Colwell:
    Taz,
    What are your thoughts on John T Reed as I see you referenced him earlier in regards to the book being fiction. I read that site a while back and have googled him and it would appear to me that his platform is based on slinging mud and putting down every one elses work but his own (which of course he promotes throughly). So just curious Taz if you have read any of his books or what not and what you think about him since you reference him? This is quite the thread we have going on

    Oh without a doubt he likes to sling mud while trumpeting his books. There is a great deal he writes I vehemently disagree with and the reason we are in disagreement is he and I think about investing in two different models.

    I view investing as a business that should be run as a business. He views investing, especially real estate investing, as an exercise for the individual. He believes only in self management of rentals and the investing experience he has is ancient in relation to the market conditions today.

    Not too long ago, I was talking with someone about him and his writings. I said, well, everything he said may be true for him at the time he was actually investing. But, I don't think I'd want a surgeon trained in the late 1800's to operate on me today. Even if he was the best damned surgeon in the world at that time. Things are different now, we have anesthesia and antibiotics and all manner of advances. The same is true for Mr. Reed.

    Having said that, it does not negate the fact he does sometimes hit the nail on the head from a logic perspective; and for me, one of those times is in relation to Robert Kiyosaki.

    I have read Reed's books. I try to read everything I can get my hands on about this business. I did not buy his books, they were loaned to me by a colleague. The information in them is factual but not all that useful to someone actually trying to build an investing business. If you are interested in having a few houses there is more there for you. I do not subscribe to his newsletter.
  • Bellevue, WA · Member since 2008 · 156 posts · 57 votes
    18y
    Originally posted by Taz:
    So, I guess no one is bothered by the fact his "Rich Dad/Poor Dad" book is fiction?

    http://johntreed.com/Kiyosaki.html


    Honestly, no. I read RD,PD as more of a series of parables and philosophy anyway. If Kiyosaki uses a fictional character to make his points, so be it.

    I would never take actual financial advice from Robert Kiyosaki, but I certainly credit RD,PD for changing the way I think about money.

  • west palm beach, FL · Member since 2008 · 9 posts · 0 votes
    18y

    I agree. The book "Rich Dad, Poor Dad" is a great book. I haven't read any of his others, but plan to do so soon. Any suggestions?

  • San Jose, CA · Member since 2008 · 137 posts · 2 votes
    18y

    Hi Tasha
    you may want to read 'Guide To Investing' and 'CashFlow Quadrant'... I have read them too. But if you are looking to advance in RE investment theory, you need to know what kind of investment you want to do... couple of books I have are - 'How to make big money investing without cash or credit' by David Finkel (if I remember right) and 'A Rehabber's Tale' by one of our BP members - Richard J Warren.

    If you are talking Stocks/Bonds - best book EVER (in my opinion) is - 'The Intelligent Investor' by Sir Ben Graham (Warren Buffet's Guru in Stocks/Bonds).

    Hope that helps.

    Cheers
    Ram

  • Real Estate Investor · Salem, OR · Member since 2008 · 14 posts · 0 votes
    18y

    After reading all posts here, we are nervous to report we are pro-RDPD investors as well. We have been interested in Real Estate for years but have never been able to "hurdle" the vast unknown which is Real Estate Investing. We purchased one of the advanced courses mentioned last year and fortunately our luck was we ended up with an extremely compatible coach. LIke others have mentioned here, RDPD is extremely good for motivation but, in our opinion, the "where" part was left out of the equation. During the advanced course we purchased 1 short-sale property in South Salem (Oregon) and made a little over $20K (in 4 months). Now, around 9 months later we are closing on our 5th "buy and hold" property, out of state. Both Cashflow and Equity have been established on all 5 properties. It is our opinion people who don't get much out of educational material expect to get the infamous "answer".... the golden key.... just like anything else you get out of it what you put into it....

  • FL · Member since 2008 · 40 posts · 2 votes
    18y

    I know they have a Cashflow game, that I've been hearing a lot about. Anyone tried that? Is it worth the $200?

  • Real Estate Investor · Eugene, OR · Member since 2008 · 10 posts · 8 votes
    18y

    This might be better suited in a different thread, but since it's Rich Dad related, I'll give it a shot.

    The Cashflow game, while steep in price, does have its benefits. Think of it more as a fun way to increase your "financial IQ." The real purpose of the game is to get you to properly invest in real estate so that your passive income exceeds your expenses, thus getting you out of the "rat race."

    Those who don't (or won't) grasp the concept will take hours and hours to finish the game. Once you understand and adopt the principles, it's relatively easy to "win."

    I personally bought the CD-ROM version for my PC. Both versions operate the same way, although with the PC version, you can play against multiple computer opponents, if you wish.

    I recall having a "Eureka" moment the first time I successfully completed the game, and it has forever changed the way I think about real estate investing. You can, in a few short moments, capture the essence of an entire book, which is pretty cool.

    Overall, it scores points for being a fun way to learn the concepts espoused by Kiyosaki. Unfortunately, it loses points for me in the price.

    My $.02

    Todd

  • Real Estate Investor · Salem, OR · Member since 2008 · 14 posts · 0 votes
    18y

    Mike,

    We have played both the Cashflow 101 and Cashflow 202 games. We would highly recommend them for anyone interested in RE investing. They are worth every penny in our opinion.

    We agree with Todd the prices are not cheap, but they are definitely cheaper and quicker than studying any RE investment course.

    We just thought we would throw this out there as a thought: An option for playing this game is there are "Cashflow" board game groups starting up all over the country. There's probably 1 in your area. Seeking one of these groups out is a great way to network with like-minded people while still learning to play the game. This way you don't have to purchase the game; the host will have theirs.

  • Los Angeles, CA · Member since 2008 · 557 posts · 70 votes
    18y

    Definitely -

    Find (or create) a Cashflow 101 group on craigslist, meetup.com, or yahoo groups.

    You don't need to buy the game to play regularly. I bought cash flow 101 in 2004. I couldn't find any friends that wanted to play it, so I found groups. I was the one that usually ended up bringing 101.

    Originally posted by Ken And Laurie Foht:
    Seeking one of these groups out is a great way to network with like-minded people while still learning to play the game. This way you don't have to purchase the game; the host will have theirs.


  • Real Estate Investor · Rochester, NY · Member since 2008 · 193 posts · 46 votes
    18y

    I love playing Cashflow. I received the game for "free" when I signed up for the advanced courses, but would recommend buying it off ebay. It is a great game ot play to help keep you in the real estate mindset, and will teach you a lot about the general idea of investing, and allow you to try out some different strategies in a safe environment. You will also learn how to analyze deals and fill out a basic balance sheet.

  • Real Estate Consultant · Member since 2008 · 792 posts · 30 votes
    18y

    As others have mentioned, most would agree that networking is definitely important in business. However, I cringe when I hear of fairly new investors purchasing out of state real estate. I sincerely hope it works out, but these are very tough times to be doing that. There is a huge group of people out there in the world trying to dump their problem on you.

    Odds are that there is someone in your town or city that is worth 8 digits or more from investing in real estate.

    I would suggest getting to know them. If possible, work for them.

    Everyone needs education. Everyone needs mentors. Choose them wisely. In my opinion, they are most effective face to face.

    ps - there are no secrets. Anything can be found on the internet.

    ps2 - how much does Harvard cost per year?

  • Real Estate Investor · Tulsa, OK · Member since 2008 · 8 posts · 7 votes
    18y

    Rich Dad Seminars

    Hey guys and gals! Sorry it has been so long since I posted. I am not very good at keeping up with these sort of things. I can't take long right now, but just quickly - I am happy to see more people getting involved in this. I only have time to mention two important factors:
    1. as far as the trainings go, they are absolutely more than worth the price tag (I will try to go into more detail at a later date), but it all depends on the person taking the courses. I have seen people attend the courses and they just didn't do anything with it. And then I have seen others start making an average of $15K per week just wholesaling. And that was within weeks of his first or second class - that person still had several to go!

    In response to the person wondering if I am backed by Rich Dad or WIA - I am NOT. I do not participate in very many forums because I spend as much time with my family and friends as possible. I work very hard to limit my time on my computer - especially the internet. I have seen it take over too many people's lives and it doesn't make sense to me. I will get on a forum such as this if a friend tips me off on a good one to be involved in... But that's about it. I apologize if I don't come across as trustworthy - but I promise I am not sponsored by WIA or Rich Dad.
    Thanks and good luck to you all!

    Nate

  • Real Estate Consultant · Member since 2008 · 792 posts · 30 votes
    18y

    yeah, that sounds legit.

  • Member since 2009 · 1 post · 0 votes
    17y

    Hi.

    This is my first post. I agree with Nate that its about the people attending the seminar not the speakers. The people who attended seminars must act after they have learn from the seminars. If not the seminar will be a knowledge that is not use. I worked in seminar event company before, I have known some of them that only wants to get the knowledge, to know what the market is doing, tats all.

    Do not complain about the speakers if you did not act on what the speakers teach you.

    [EDITED to REMOVE SOLICITATION]

  • Altus, OK · Member since 2008 · 2k+ posts · 690 votes
    17y

    Seminars can be a wealth of knowledge but a lot of them are smokescreens designed to sucker you into more coaching,products,etc.

  • Real Estate Investor · Hartwell, GA · Member since 2008 · 35 posts · 6 votes
    17y

    Someone mentioned "upselling". That's what all the gurus do - try to get you into their cults.99% of them have nothing to offer.

  • Real Estate Investor · Terrell, TX · Member since 2008 · 30 posts · 4 votes
    17y

    I'm surprised that they aren't recruiting for Amway at those seminars.

    Call me a "dream stealer", whatever.

    Want REAL real estate advice? Go to your local real estate investing club and start talking to others who ACTUALLY invest in real estate and don't sell seminars on "getting rich quick".

    "A sucker is born every minute" - P.T. Barnum

  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    17y
    Originally posted by Daniel Stewart:

    Want REAL real estate advice? Go to your local real estate investing club and start talking to others who ACTUALLY invest in real estate and don't sell seminars on "getting rich quick".


    OR, stick around BiggerPockets and learn what you need to know FREE!
  • Real Estate Investor · Dallas, OR · Member since 2009 · 74 posts · 1 vote
    17y

    Great idea Joshua!
    The amount of information and first hand experience available on this site....

    PRICELESS!

  • Real Estate Investor · Terrell, TX · Member since 2008 · 30 posts · 4 votes
    17y
    Originally posted by Joshua Dorkin:
    Originally posted by Daniel Stewart:

    Want REAL real estate advice? Go to your local real estate investing club and start talking to others who ACTUALLY invest in real estate and don't sell seminars on "getting rich quick".


    OR, stick around BiggerPockets and learn what you need to know FREE!


    Sage advice, also.
  • Real Estate Consultant · St Petersburg, FL · Member since 2008 · 50 posts · 2 votes
    17y

    Nice to see this thread still going on. I live in the Tampa area where we are old guard guru rich. Jack Miller, John Schaub, Pete Fortunato, Jay. These guys aren't fancy marketers. When they sold a seminar ticket, they spent their time TEACHING you, not upselling you. They still teach at a fraction of the price of these slick marketers who know marketing inside and out and jack about real estate.

    If you are encouraged to call your credit card company and raise your limit in order to buy a program, you are getting VERY bad advice, especially in this economy. Hold onto your cash. Learn how to do creative deals. We talk to more people who have spent their money on gurus who turned them onto "investments" which are now upside down and killing them.

    Barbara

  • Real Estate Investor · Hartwell, GA · Member since 2008 · 35 posts · 6 votes
    17y

    Barbara - nice post.

    I know at least 10 investors here in Charlotte who have been taken by inforpreneurs on the internet. Others have been hammered by local gurus who have no regard for other people and are quick to take advantage of novice investors.

    Real estate investing is a fun job, but it's a game that can mean financial and legal doom for those who don't do their homework.

    People, avoid most gurus. Avoid the infopreneurs on the internet who are not real estate investors, but marketing geniuses who are out to pick your pocket.

    Keep your cash to do deals. And remember, don't make a deal more complicated than it has to be. Start out doing simple stuff at low price points and you won't get hurt as badly if the deal goes bad.

    Avoid "subject to" deals and lease purchases. Be patient and pick deals with which you are comfortable.Always be working to line up funding. Do "clean" business. Stay away from broke wannabes and middlemen who are trying to grab a piece of your action.

    Learn how to value properties by running real comps. Read a lot of books and use your local realtor as a resource and network, network, network.

    Gurus can't teach you much more than you can find out by picking the brains of other reputable investors.

  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    17y

    Great post, Michael.

  • Real Estate Investor · Edmonton, Alberta · Member since 2009 · 4 posts · 0 votes
    17y

    Hi everyone,

    I just wanted to say my friend and I signed up for the advanced rich dad training classes and the first one starts Feb 13.

    I'm looking forward to it. I'll be sure to come back here and let you know how it goes.

    Thanks to Nate and Noelia for your comments, I'm glad you've become successful. :)

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