Rich Dad Real Estate coaching

13 Replies

Brand new to BiggerPockets, loving everything so far. Also brand new to Real Estate investing.

I want to learn what to do before I jump in so after reading several Rich Dad Poor Dad company books I thought it would be a good idea to sign up for their Rich Dad Coaching.

Since I started the process, I have seen several not so good reviews of the coaching.

I have my coaching on hold due to a financing delay and I need to make a decision quickly on how to proceed.

I originally signed of for the Real Estate Course for $4,400 and then got "talked into" the more generic "Choose to Be Rich" program when the financing looked like it was not going to happen.

I have a way to pay for it now but am not sure whether I should try to back out or not. Has anyone had any recent experience with the coaching? All of the post I could find are several years old.

Check out Marko Rubel's videos on youtube. I hear it's a good program.

@Dan Graney

I actually just got off the phone with one of the Rich Dad coaching recruiters. I talked with someone yesterday about the program and he set me up with an "interview" for this morning. There was a lot of talk about commitment and taking action which is a good way to stir up emotions to get you to give them money now. Did you decide to go through with the program? I was getting some pressure to put the payments on a credit card as it would be "good debt" that would come back to make me money and give me motivation to go out and make deals. Anyways, just wanted to share a little bit of my experience, whats the latest on your end?

Levi,

Well since I already gave them some money and agreed to take the class I figured that I would make the best of it. However I did switch to the lowest cost program the "Choose to Be Rich program. My first group coaching session tonight so I will let you know how that goes.

One good thing I have to say about it is so far calling the coach resource line has turned out pretty good. I have called 4 times, 3 of those were for real estate related questions. Each time I have reached someone who an active real estate investor and the one time I had questions about multi-family I was fortunate enough to get a guy who had more than one unit himself.

I still think, after finding BiggerPockets, which I was told about by a Rich Dad coach, that I would have enough educational materials without Rich Dad. However the accountability and weekly scheduled coaching sessions is something that I think will give me a good jump start to get into the real estate investing game.

Levi,

Just got done with my coaching group session, pretty disappointing. It was an online presentation of a few slides and basically the moderator (coach) going over a few basic concepts. Meanwhile the other people could chime in or do a virtual hand raise in a chat window but it was mostly silence from the group. The coach also spoke about us breaking up into groups which never happened. I asked them if we were going to do that and he chuckled and said "instead of that I regaled you all with a story."

I hope the rest of the sessions will be better but at roughly $600 per session it is so far not seeming worth it.

My understanding is Robert Kyosaki has licensed out his coaching and it is done by a company with a poor reputation. I would not consider Rich Dad coaching. It is my strong felling that it is both low quality and very overpriced. 

Medium crab1 copyNed Carey, Crab Properties LLC | http://baltimorerealestateinvestingblog.com/

Is my opinion that working one-on-one with a successful coach that understands how to get you into action and knows your market and knows your strengths and weaknesses, not group but 1 on 1, is the way to go.

Group classes are generally very basic and mostly for motivational purposes but does nothing to get your business going

Research Rich Poor Dad coaching here on BiggerPockets to get more insight as far as the value of their coaching for the money

Medium banner reiskills 997   copyBrian Gibbons, REISkills | [email protected] | 818‑400‑3046 | http://MyREISkills.com

I want to preface this, by saying that I am in now way, shape or form affiliated to the company below. I met a gentleman who is part of Lifestyles Unlimited when I cold called him regarding a property of his in Austin. He said that he would sell for the right price so my partner and I flew down from Pittsburgh. It was while on tour that we got talking and I asked him how he started, he told me he knew he wanted to get into RE investing and signed up with the group mentioned above. This guy is a sharp guy, he won an award in Austin as their best operator of the year. I have kept in touch with him even though we didn't buy his building. In the past two years he has purchased 3-4 complexes about 300 units by my rough count. He credits everything to those guys, even helping him connect with passive investors. Again I have never attended a meeting or spoken with anyone at the this group. I do not now the costs or whatever level of commitment they require. Just though I would share his story for anyone interested.
Dan Graney I was told to avoid these guru seminars right from the start. I am a big fan of Rich Dad Poor Dad and I am currently using his strategy of "using other people's money" as a big part of my game plan. But I stopped at the book. I find learning through networking is better than any book out there. A book, or course can only tell you so much. Talking to actually investors and people who live in the markets is what helps me. However I have ran into the wrong kind of people from time to time, if you know what I mean. I like to think that real estate investing is learned through experience. You can read every book out there and take all the courses possible but without experience it takes you no where.

Go on to Amazon and order a handful of the best selling/best rated real estate books. You'll likely spend less than $100 and get tons of useful info that will be plenty enough to get you going. The only missing piece then is accountability, to which I would suggest joining a local REIA or real estate Meetup group.

You can get tons of great info on BP, but this information is bits here and there. A good book will pull multiple aspects together nicely. Then use BP to fill in the gaps.  

Having done the Rich Dad courses, I can without a doubt say that the BIGGER POCKETS forum has the answers you need, the up to date info on your specific market and real time strategies.  Buy several books on real estate investing.  Ask questions here for advice and references.  Save your dollars for a down payment.  Do not get wrapped up in the excitement and energy of the crowd who "Almost assured of making your fortune in 30 days!"  That is how they will wrap you up on selling their courses.   

Don't give them another dime.

Disclosure: I'm currently partnering w/ Dennis Henson on a flip.

I did a 2 or 3 day Rich Dad RE course which opened my eyes to the different ways to make money in REI. However, the constant sales pressure to join their grossly over-priced coaching programs was a huge turn-off. My $.02, if you're going to pay for coaching or mentoring, spend it locally w/ someone you can meet face to face w/. I use Lifestyles for MF and Dennis Henson for SF, and recommend both.

Hi,

 I just did a interview this evening with one of the Rich Dad Recruiter. one to one coaching for 1 yr program costs 5399$. I am new to real estate investing. I do not see any new reviews in recent past. Is this course really worth it. Please share your thoughts if anyone of you been in this course recently? how was your experience if so.

Hi @Dan Graney for me the best coarse offered by Rich Dad is the weekend intro course where you get an overview of real estate investing in a 2 day boot camp. It was $300 but I paid $149 and they gave at least that much in study materials. If you actually study and apply what you learn from that course, you have all the knowledge you need to be successful. However, knowledge is only about 40% of what is needed and the other 60% in your motivation, commitment and network.

As others have mentioned, if you use BP as an education tool by going on everyday and reading, posting, asking questions, and networking, this would be a very expensive course but it's almost free!