My Experience of Rich Dad/Elite Legacy Event Scam

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There was a guy some years back that literally dismantled Robert Kyosaki and his "Rich dad" story, fact for fact. He apparently was some MLM scam guy who changed his gimmick to real estate, and then made up the "Rich dad" story. 

As you were telling your story, I half expected you to say WWE's own "Brother Love" jumped out and gave a sermon about real estate and if you buy the course, he'll LUV YEWWWW!~ (youtube brother love wwe if you don't know who he is). 

I am in the wrong business. Seriously not a guru goes by that is not charging an unconsciousable amount of money. Do you know why they can get away with this is because people buy this crap. i am disappointed in RD because you would think someone out there wants to really help the little guy, I guess they do its just going to cost you $40k. One must pause when someone offers advice on getting rich the most likely case is they are making more money selling you a pipe dream, if it was lucrative why would they not just be doing it. Thats like knowing where a gold mine is located and selling maps to go find it. Its no surprise to me that RD is out there talking about how the world economy is going to crash etc etc. If that was the case why would they be stumping for real estate. Funny he has a new book out called "Fake" https://www.youtube.com/watch?v=KWG2b-36JLc

So glad you posted this. For years I have seen postcards and ads inviting me to a Rich Dad seminar. And like someone said, they try to lead you to believe that Robert will be there, but I knew for sure he wasn't gonna be there.

Nowadays, other people are doing the same exact thing with other big names, such as Daymond John for Shark Take. I see ads about free seminars in my city and I am 90% certain it will be a pitch fest and very little value shared.

Just  did the free seminar yesterday and got as much as I could out of it. Then towards the end started pushing the 3 day workshop  “valued” at 2k for $495. Some did sign up, I thought about it but had to look up the information they talked about to see if it was backed up by any other source besides them.

What I took from this was, be peppy salesmen and fish till you hook one. They were practicing what they were selling . 

Thank you for sharing!! I'd had bad experiences with many of these events. They prey on desperate people who can't think critically and ask you to put down way too much money before you're even ready to decide. Most of these events are so shady, in my opinion

Welcome to Guru-ville. They all use the same business model. Fortunately for the Gurus there is always a new crop of wannabe investors who can easily be separated from their money by selling hope.  Last I heard from a friend of a Guru, greater than 95% of those pay $40K plus for these plans, never even open the materials.  It's a business and it's very profitable.

 

I went to the Rich Dad free seminar here in Paris, led by a man named Steve Sweet who spent his introduction bragging about living in Marseille, holding a British passport, and calling us LIARS when we didn't raise our hands to say that we could live comfortably on 10k a month. It was such a farce that I left after 5 minutes. And I agree, the crowd was full of people that looked like they didn't have two dimes to rub together. 

Thank you, dear Constance!
You prevented me from further damage!
As you did, I just visited the 3-day event, but in Zurich, CH. It went out the same way you experienced. As a consequence I just visited the first day. The first speaker from south africa, Sean Thomson, had too much of this chakachaka-mentality I do not like that much. The others always refered on their success stories and why's. All did their great success within 18 Months. Strange to me. There was always the speak of that £ 25k Investment, which they easily got back with the first deal. Then they moved over to the expansion of your credit-card limit, which a lot in the audience including me performed during lunchtime. Quite a funny experience for me and the Lady on the other end of the phone line! In the afternoon the mentor, Catherine McGuire talked about the opportunities in the UK-Market. Not too bad, but I don´t have comparable information to evaluate or to judge. A group work followed: "How to get money?" could be a headline. At last there came some stories about funding the £ 25k in the family and the request to do so as a homework. That helped me not to visit the following days!
Result: Hands off!

Hi Sonja,

Also had a run-in with these guys at *some* property investment meetup here in South Africa. It's sad because they promote dangerous strategies like increasing credit limits without consulting each person about their financial status. When people are in bad financial straits, its so easy to get taken advantage of. I would only consider hiring a coach after I know for a fact that they have years of investing experience and a good track record.

Just left their workshop and luckily I been reading the books off of bigger pockets, So I was only taking down notes on things I didnt learn from bp, Well I ended up with no notes because it was all geared towards the 3 day workshop. It had about 40 something people in there and and at least 36 of them was signing up... me,my wife, and a lady I met at the event walked out....pure scam

My mum and I attended 2 out of 3 days the 3 day course this weekend in Auckland. I agree with the majority of comments. Lots of manipulative sales tactics, long personal stories, and repetition. Every 10 minutes they made sure to drill in that none of what they were talking about would be possible without investing in the right team of people - investing in their mentorship programme.

It had a lot of very cult-ish vibes. If you questioned anything, then you were a skeptic and had a bad attitude. I especially didn't like the way that they tried to make you feel unworthy of success, or unmotivated and lazy if you didn't want to sign up for their mentorship program. (starting at $42k!)

We didn't sign up. But a concerning amount of people did. 32 people went down the back of the room to give their details and pay for the mentoring. Which at the minimum of 42k would be about 1.3mil in sales! And that's only on day 2! (I think they were doing 2 for 1 for some people which is still 21k each!)

We are not going back for the 3rd day. I hate to think how many people will end up paying for legacy's programme this weekend alone!

I don't doubt that with the mentoring they will get a good start on their property investment portfolio. However, $42k is a stupid amount of money to spend on info you can easily find for free.

@Constance Kang I encountered a similar interaction after going to a "Free" Rich Dad event. It was just an event put on by some stranger, pointing us to buy the 3 day workshop.

He told us a story of how he used to be broke, but he spent his last 3k on his credit card and it changed his life. He said you don't even need to ask your spouse, they'll thank you later.

Total 180 from what I've read from Kiosoky 

Originally posted by @Guy Gimenez :

Welcome to Guru-ville. They all use the same business model. Fortunately for the Gurus there is always a new crop of wannabe investors who can easily be separated from their money by selling hope.  Last I heard from a friend of a Guru, greater than 95% of those pay $40K plus for these plans, never even open the materials.  It's a business and it's very profitable.

Its so profitable that all of us would do it if we could..   

 

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