Rich Dad 3 Day REI Seminar in Knoxville TN

10 Replies

So prior to discovering BP I signed up for this 3 Day seminar in Knoxville TN that is this weekend. I've paid for it and figure while I know some of it will be a sales pitch surely I'll pick up on some good knowledge and information over 3 days and hey it's another opportunity to network. 
That being said I'm actually allowed to bring up to 2 guests with me for free. Since no one in my close circle is available or cares I figured I'd extend the invite to anyone in the BP family that is local. 
If you're interested just shoot me a message or post here. It's Fri & Sat from 9-6, Sun from 9-4. At the Crowne Plaza Knoxville Downtown University 401 W Summit Hill Drive SW Knoxville, Tennessee 37902.

It would be great to be able to share this with someone else local but I'm sure most of you have other things to do during that time that would be more productive to your own business. Just figured I'd throw it out there. 
We could meet up on Friday AM for Breakfast or even Thursday night ahead of it. 
So like I said if you want to join me for free just let me know. I paid $700 for it so hopefully there is some value there in the use of the time. 
Thanks 

I strongly recommend that you prepare for heavy sales pitches. They will tell you how you can call your CC companies and increase your credit line all so you can purchase more of their classes.

You might get a good tip here and there, but I wouldn't be surprised if the info they give you only leaves you with more questions. They tell you just enough to be confused and ask more...and therefore need more classes! ;-)

Please don't spend more money on this. Instead, save your money for the downpayment on your first rental or something. Attend local REIA meetings. Keep reading here on BP, listening to the podcasts, etc.

Leave the credit cards at home. Probably debit cards too. I’m guessing this will Be s giant sales pitch from start to finish.

I went to a similar one 2 years ago. I should go to another just to remind myself how awful they can be lol.

Good luck.

@Derek Tellier Best of luck! As @Caleb Heimsoth has mentioned, I would leave the debit/credit/all other cards at home. 

Most of these events are a complete scam. I continue to be shocked at how many smart people fall for this level of chicanery. 

Save yourself the time, hassle and loss of brain cells and spend that day with your family/friends. At least, they're not trying to screw you (hopefully... lol) :)

Hey there @Derek Tellier . I went to one of those seminars prior to joining BiggerPockets. I’m new here, but I do have some experience going to a seminar. I’d like to share my experience with you.

First thing is first, I attended the free seminar where they spent a few hours telling me what I would learn if I attended the paid seminar.

When I got to the paid seminar, they spent half of the 1st of 3 days telling me about what I was gonna learn.

Just to keep track.... so far we are 7 hours into me learning that they’ll teach me some awesome stuff, but later. This young guy(me) in his twenties gave up his weekend plus $200 for the session. Needless to say at this point I’m anxious, excited, and a bit irritated.

Day 2

They teach us about concepts (more thoroughly explained in the BP podcast) that grab my attention. I also notice that he’s managed to get everyone (me included) to say yes about 30 times and it’s not 10am yet.

(Scorecard)

+ Building value (by the way he hasn’t attempted to sell us anything yet but it’s coming )

+ conditioning the audience ( at this point we’d probably bow to him if he asked for it )

Day 2 afternoon

It’s almost time to go. And so far he has really given some information that I’m ready to go run with. Then he mentions a special course where we have to apply and only a select few are accepted. By this point I AM HOOKED. He casually mentions a $50k price tag and it is all I think about until the next day.

Day 3 ( The Pitch )

This is why they really had the free class. I forgot to mention they gave me an application to fill out and have done first thing that morning . Yes there was a deadline. And at least 90% of us applied. The application asked really personal questions like FICA score, available credit and assets. Also social security number . Then they one by one “interviewed” each of us

(The interview)
I need to start by saying that he did all of the talking.

Not your typical interview in the least. He noticed my SSN and a ton of other personal info was missing so the only questions he asked me were if I could fill out everything for him and if I could follow directions. I’ll leave my response to him up to your imagination.

I need to pause here and vent about the demeaning posture of this gentleman. He short answered most of my questions for example I was interested in learning about a deal of his that wasn’t so amazing. His response is that he’s always made money and never had a bad deal. Okay, I can’t say that he hasn’t unless he paid $50k for the course-> I’ll expand on that later.

After the interview he said a panel would discuss and decide. And he asked me if i were selected would I have $50k today to pay. I said no, guess what the panel decided for my future with their brand.... you guessed it.

Conclusion

The seminar that I attended was not the rich dad series, however they may be similar programs. The seminar itself is a business. When you invested your precious time and money into a 3 day weekend thats the first step to paying more later. It’s a numbers game in my opinion. I respect the savvy of the ones who incepted this business model. However, I felt some serious deception throughout the entire process and I have to wonder how some of these guys cope internally with the methods of this business model.

Before continuing I must add that during the process they continually drove home that fact that you don’t get something for nothing. That may have been them adding value, but regardless it’s a fact of life and a useful thought to keep in mind.

The other thing (going back to my interview) is that while they may tell you that the extra courses will pay for themselves via flips and wholesales.... that $50k is buying more than just education and mentor ship. You have to follow their directions to a tee, you have to constantly communicate with them and the group they connect you with ( which is for a limited time), you have to work hard to save money (although you are $50k lighter) and follow scripts and guidelines including using your money how they tell you to in order to build your business within the image of theirs.

Again I’m new to the investment world. But I’m willing to wager that with the same amount of effort and cash, you will be able to leverage the experience of professionals, to build something of your own that perfectly fits your financial goals, limits risk to you and your family, and is repeatable if you somehow lost it all just because you chose the “hard” route.

I have the feeling that if you mess up with them, you’re back to square one.

Now despite the tone of my short story if you asked me if I’d do it again I would say ABSOLUTELY!

I knew nothing of the possibilities until attending this course and I squeezed it in terms of information then eventually I found out about BP! (Thank God)

Many of the attendees won’t be aware of the possibilities as you are either so if you start to dislike it make sure to keep it positive for those around you. I also encourage you to get out as much of it as you can. There should be some supplemental knowledge there available for you.

Good luck and have fun !

-Ryant

Thanks @Nicole A. , @Caleb Heimsoth , @Omar Khan and @Ryant Nelson

I'm fully prepared to hear the sales pitch and the good thing is I couldn't spend $ if I wanted to right now as I'm in the process of divorce proceedings. So legally couldn't spend the money anyway, so I've got a safety there lol. Although while I did spend my $700 after the free 2 hour seminar I always intended for that to be where it ended. Even before BP I had a good friend coaching me along and he's who got me into BP.  
I'm hoping that I get some good information although I'm pretty confident most EVERYTHING they say will be something I already heard on a Podcast or read/heard in a book. 
If come Saturday I feel my time has been totally wasted I'll skip day 3 since surely that will be the heavy sales pitch day. 
Like I said hoping maybe I just hear something new or said differently that inspires me, even if it is the same old it will just continue to help reinforce those concepts and keep me focused on what I'll do once I'm free to do what I want. 

I live near you and saw advertisements for this. I like the Rich Dad books that I’ve read so far and am interested in hearing about your experience. I’ll be at the rei networking event this Saturday. Hope to see you there!

I just attended the seminar last week. I read the book and was very interested in learning more. They offered the 3 day seminar for $700 and I was seriously contemplating attending. I googled reviews and came across this site and so glad that I did, thank you for all who shared their experience. 

I am glad that I did go, they did share some bits and pieces of great information, like joining the local REIA, etc. but like mentioned here, just teasers. So I am joining the local REIA and looking forward to using the resources on this site as well.

Glad my post led you here @Tanya Jones

They do a good job with the sales pitch and I have no doubt that someone very motivated, who had the funds but needed some real help and direction would definitely benefit from the training they offer.

I paid $17k for a year of school to start my current career 20 years ago and I have no doubt that I wouldn’t have grown at the pace I did without that training. But just like I tell new technicians fresh out of school now, “the school gave you a ton of knowledge but Now you have to learn how to use it” 

All the education in the world does no good if you don’t take action with it. 

I totally agree, at some point you have to take action.

SO, something funny...

I went to visit my area REIA, good size group, I guess they have monthly speakers, the gentlemen that just so happen to be speaking, FULL of energy, great sense of humor, but there was something eerily familiar about his "pitch". He then posted a pic with Rich Dad and said they were great friends...blah blah blah...and just for $497 you can take MY class on "X Date" andddddddddd the first 20 people to sign up can get it for only $49!!

Flabbergasted.

What cracked me up about this group, was that one lady boldly questioned, if you are making so much money, why are you here teaching this class?

Is this how it is? Really?

That sucks you're REIA group does that. The local one here is great.

Hopefully that was just a one off situation And the next meeting will be more fruitful. 

I question the same thing you do “why are you teaching”. I hear lots of reasons. Some seem valid others not so much. 

One good example of a good reason is Ken McElroy who speaks for the Rich Dad company. He said in a podcast here on BP that he gives every penny he makes for doing those to charity. He doesn’t have to work but he loves sharing and educating. And it beats sitting around doing nothing.