Wake Up! I mean how stupid do you have to be?

[audrey_girl]

I know that he has his detractors here -

but I wanted to share this interview, I think he makes some very good points. I have noticed how much more pointed/angry he has become over the last few years...

[LargoWinch]

Re: Wake Up! I mean how stupid do you have to be?

AG, may I ask you why you are posting this under "news"?

As you are probably aware, for such posts there is the video section as well as other more relevant sections.

[audrey_girl]

Re: Wake Up! I mean how stupid do you have to be?

AG, may I ask you why you are posting this under "news"?

As you are probably aware, for such posts there is the video section as well as other more relevant sections.

Ok - no prob - Is there a way a user can move the thread?

Checking now, but don't see one. Do you know?

Thanks

- Don't think I have permissions to move the thread. Requesting the moderator to move this thread please, if he is up and around.



thanks

[Mega]

Re: Wake Up! I mean how stupid do you have to be?

I think whats happened over just the last year or so is we (Bright people) have sussed that the systerm is totally bent, & going under. We knew things where a bit dishonest, but now we can see that EVERYTHING is rigged.

Its Game Over, the next 5 years will be nothing like the last 25.

Mike

[metalman]

Re: Wake Up! I mean how stupid do you have to be?

I know that he has his detractors here -

but I wanted to share this interview, I think he makes some very good points. I have noticed how much more pointed/angry he has become over the last few years...

sounds good, eh?

says all the right things.

but... ever read the comments on yahoo when he posts his columns there? quite illuminating.

this is the same guy who told us to buy real estate in 2006, to not buy gold until 2008, etc.

where was he before 2009 with his talk about wall street crooks, intentional removal of financial education from usa schools & the wiping out of the middle class?

the poor slobs on yahoo followed his advice & now are poorer for it won't give him a break. read the comments there.

to try to cover his tracks, he gets outraged & emotional. same deal as denniger & his deflation calls.

the dupes fall for it every time.

[rabot10]

Re: Wake Up! I mean how stupid do you have to be?

Metal

I read Rich Dad in Oct of 05 just after putting a down payment on a condo that was under construction in Florida. I went to the R D P D web site and joined his insiders group. The video in Oct of 2005 that was featured had Kiyosaki saying that “the party is over it’s time to find a new party” he was talking about the housing market. I went and got my deposit back on the condo. (The condo never was finished)
In November of 05 he had a video with Mike Maloney that went over gold and silver and that Kiyosaki had been investing in it for sometime. Maloney currently runs GoldSilver.com and it was this video that sent me on my investigation of gold and silver.
Hey if it wasn’t for him I may never have met you.

[karim0028]

Re: Wake Up! I mean how stupid do you have to be?

Metal

I read Rich Dad in Oct of 05 just after putting a down payment on a condo that was under construction in Florida. I went to the R D P D web site and joined his insiders group. The video in Oct of 2005 that was featured had Kiyosaki saying that “the party is over it’s time to find a new party” he was talking about the housing market. I went and got my deposit back on the condo. (The condo never was finished)
In November of 05 he had a video with Mike Maloney that went over gold and silver and that Kiyosaki had been investing in it for sometime. Maloney currently runs GoldSilver.com and it was this video that sent me on my investigation of gold and silver.
Hey if it wasn’t for him I may never have met you.

I agree, Kiyosaki did his analysis of real estate based on cash-flow... If it didn't cash flow it didn't work; in my view he always made that distinction.... He wasn't just talking about owning real estate at any price...

He wrote a book and made a call, if some one is dumb enough to not understand the basic premise of real estate investing and understand that the time had passed for that particular strategy; that can hardly be blamed on him...

His original book on the subject i believe was published 2000 and times change....

Actually, having read his book on gold and silver investing, i think he will herald in the next leg up in Gold and silver... People that read him tend to follow like lemmings and that in my mind is the first step in the next phase in gold, Kiyosaki is the main stream... Pretty soon grocery store clerks will be talking about gold and at that point it will be time to get out... And the cycle continues....

[metalman]

Re: Wake Up! I mean how stupid do you have to be?

Metal

I read Rich Dad in Oct of 05 just after putting a down payment on a condo that was under construction in Florida.:p I went to the R D P D web site and joined his insiders group. The video in Oct of 2005 that was featured had Kiyosaki saying that “the party is over it’s time to find a new party” he was talking about the housing market. I went and got my deposit back on the condo. (The condo never was finished)
:p
In November of 05 he had a video with Mike Maloney that went over gold and silver and that Kiyosaki had been investing in it for sometime. Maloney currently runs GoldSilver.com and it was this video that sent me on my investigation of gold and silver.
:p
Hey if it wasn’t for him I may never have met you.

"Still the man hears what he wants to hear & disregards the rest...'
-Paul Simon

one of many sites that debunk kiyosaki...

Wednesday, February 13, 2008

Robert Kiyosaki: Financial Expert?

I was first introduced to Robert Kiyosaki back in 2001 through our network marketing home-based business. When we signed up to join our “group” or up line as it is called, the package we received contained Kiyosaki’s book titled Rich Dad, Poor Dad.

When I initially read the book, I enjoyed it. At the time there were a few things I thought were trite or that sounded a bit amateurish. This book, however, was my gateway into the world of Robert Kiyosaki, and led me to purchase other works by him, or by author’s who were endorsed by his “Rich Dad” organization. This ultimately led me to purchase his real estate program titled 6 Steps to Becoming a Successful Real Estate Investor.

Having gone through the 6 Steps to Becoming a Successful Real Estate Investor the thought had crossed my mind that perhaps Kiyosaki didn’t really know what he was talking about. The program itself was vague, gave no detail about exact procedure, no negotiating technique at all, or anything on developing a strong real estate portfolio. Moreover, my brother-in-law had already purchased the same program, and about the same time I my wife and I were going through it, he was attempting to put it into practice.

With my brother-in-law out there actually using the program, I thought this would be great, I can go through the program, watch my brother-in-law put it into practice and see if it actually works before I sink thousands of dollars into the real estate market. My brother-in-law told me that he could never get any of the numbers to work that were demonstrated in the program. No matter where he searched for property, even in the lower end areas, he could never find as “good a deal” as Kiyosaki found throughout the program.

So he modified the calculations a bit and ended up actually purchasing his first rent house. He spent several months fixing it up (my brother-in-law is quite good at this type of thing), and he rented it out. By this time I have completed the course, and am waiting to see what happens with my brother-in-law’s first rental house.

He finally found a tenant to rent the house, they were there for about a year, and he barely made any money at all. He ended up selling the house and barely breaking even; and all this by using Kiyosaki’s method. It should be noted that I have other friends who went through the same program, followed Kiyosaki’s advice and ended up bankrupt. Now, this is not to say that investing in residential housing causes bankruptcy. However, if you do not know what you are doing, then yes, it can be financially damaging.
After all this occurred with my brother-in-law, I began to research Robert Kiyosaki. I also obtained several other books by Kiyosaki and a few other “experts” he claims to surround himself with and I read their material as well. I began to notice a trend in the writing and the best single word to describe that trend is: vague. There is enough ambiguity in all of Kiyosaki’s works to give him the appearance of sounding like an expert.

Third, now for the contradictions. (You can see the article here):
“A few days ago, a reporter asked me if I was losing money in real estate. My reply was, ‘No, I'm making money.’ Confused, he asked, ‘How can you be making money during the subprime disaster?’ I explained that since the real estate market took a downturn, there were more people renting rather than buying, which is great for my apartment business. I also informed him that I'm raising rents since demand for affordable apartments is so high. When someone moves out, I increase the rent and new tenants line up, which means my cash flow is increasing.

He then asked, ‘Are you looking for new investments?’ A shocked look came over his face when I said, ‘I've been investing heavily in the stock market since August 2007. I've moved several million dollars into the market.’ ‘The stock market?’ he stammered. ‘Stocks are crashing. Why are you in the stock market? Besides, I thought you were a real estate investor?’ (Emphasis mine)

For a “professional” to give advice and declare that he would never put money into the stock market because he has no control over it, I find it quite interesting that Robert Kiyosaki claims since August of 2007 he has invested millions into the stock market.

Now I’m pretty sure that many reading this actually like Robert Kiyosaki and have perhaps invested money into his books and programs. If that is the case, I hope you will do some serious research on him before you actually invest any money into any thing he recommends.

My problem is that Robert Kiyosaki should not be called an expert because I have yet to read, see, or hear anything that he has recommended actually having lasting value financially. With exception of the countless quips or sayings he has strung together in his book Rich Dad, Poor Dad, I do not think that Kiyosaki has much to offer in the arena of financial expertise.

[rabot10]

Re: Wake Up! I mean how stupid do you have to be?

"Still the man hears what he wants to hear & disregards the rest...'
-Paul Simon

one of many sites that debunk kiyosaki...

Metal my brother or sister from another mother; he has a different agenda than iTulip but not a bad one. Don’t condemn all the unwise pagans who don’t worship from the alter of EJ

[chr5648]

Re: Wake Up! I mean how stupid do you have to be?

If anything Kiyosaki is at best a motivator, many of his stories in his books are vague and his personal examples seem like fabrications.

But he has managed to get people motivated and think about personal finances, which I won't hold against him.

[SCAR]

Re: Wake Up! I mean how stupid do you have to be?

Metal my brother or sister from another mother; he has a different agenda than iTulip but not a bad one. Don’t condemn all the unwise pagans who don’t worship from the alter of EJ

It's just that EJ is conducting a graduate level economics discussion whilst “Rich Dad" type thinking is on the level of an "Algebra for Dummies" primer.

[Mega]

Re: Wake Up! I mean how stupid do you have to be?

Metalman.............is there anyone you like?...........comes up to your "Standards"?
Mike

[rabot10]

Re: Wake Up! I mean how stupid do you have to be?

It's just that EJ is conducting a graduate level economics discussion whilst “Rich Dad" type thinking is on the level of an "Algebra for Dummies" primer.

Scar if you had his money you would give yours away lol. [Rest of comment deleted for name calling and other disrespectful comments. Not iTulip material.]

[LargoWinch]

Re: Wake Up! I mean how stupid do you have to be?

Metalman.............is there anyone you like?...........comes up to your "Standards"?
Mike

Mega, I think MM holds in high regards many members of these pages for a primer.

[karim0028]

Re: Wake Up! I mean how stupid do you have to be?

Scar if you had his money you would give yours away lol. Who would be the Dummy my Participating iTuliper friend? May I add your are a freaken retard dude.

I dont think SCAR meant any insult... RDPD is essentially main stream. Which just tells me that we are entering a different phase of the cycle... You have EJ/Fabr/Rogers as innovators and niche thinkers out before the crowd and once you are in Borders/CNN and marketing to everyone you are in the later stages of either early majority or later....

Once every book in the investing section at borders is about real estate its kind of a hint that real estate is over as an investment.