Rich Dad-Poor Dad - Training Academy

mutley74

I just been on a 2 hour free seminar to property investing using the RDPD principles. Initially sounded okay, but people at the seminar aim is to get me on a 3 day training academy to go through in more detail how to buy property, mortgage it, rent it out etc. This course is a "discounted" at £349 for 3 full days incl a free CD/book pack.

Just curious if anyone here has been on such a course by RDPD and what their views are? is it worth it, or can better advice be picked up reading forums like this, or is it worth do 3 intensive days to learn more about property investing??


One thing i was puzzled is how they suggest to investors to use credit cards to buy property.....when i asked how, told well its explained on the course! Cany see how one can use a CC without incurring cash advance charges to buy a property...?

tbs624

What I can see is how to make money by telling you I have secrets that will only be revealed after you have paid £xxx plus vat for a course run by me , £xxx, for my follow up DVD, £xxx for my book that follows on from where my DVD finished.........

If I also bung you a tenner's worth of drink and mixed pretzels will you convince some other bods to sign up for one of my courses.....? Mind your greasy fingers until you've paid for that book.........:D

lincroft1710

Ever heard the expression "there's no such thing as a free lunch (seminar)"?

It may be kosher, but I have my doubts. If the people running these courses know all about making money from property investment, then why aren't they out there doing that rather training people to be their competitors?

adg1

There was a company called Inside Track who used to offer this type of seminar at the height of the market.

The owner 'bought' the idea from a friend for £1million, but only if he could make it work - if he did, he paid his friend. If not, nothing. He did, paid up and now owns three plots of land and the houses on them in the most prestigious estate in Surrey, St Georges Hill.

However, the company folded as soon as the downturn in the market happened - it was so heavily linked to property prices continuing to rise at the rates they were.

Here is your £349 seminar: It was based on buying off plan/development sites/development opportunities, at a discount as you bought as many units as your mortgage company would let you, selling them on at a profit and immediately re-investing the money in more property. It worked as long as the market kept on rising and made a few peeople 'property' rich. They now have a lot of assets, mortgaged to the hilt, in a time when values have dropped massively.

I know I wouldn't want to be sweating over the values of huge amounts of property which I bought at the height of the property market now that values have dropped by however much it now is.

adg1

Knew I'd find the link - check this out.

http://www.guardian.co.uk/money/2007/mar/03/alternativeinvestment.moneysupplement

And read through these:

http://www.google.co.uk/search?hl=en&source=hp&q=inside+track+seminars&meta=&aq=f&oq=

And maybe this too:

http://forums.moneysavingexpert.com/showthread.html?t=112820

Enjoy!

adg1

In fact, they seem to BE Inside Track! Who would have thought eh?

Like a phoenix from the ashes.

mutley74

lincroft1710 wrote: »

Ever heard the expression "there's no such thing as a free lunch (seminar)"?

It may be kosher, but I have my doubts. If the people running these courses know all about making money from property investment, then why aren't they out there doing that rather training people to be their competitors?

The people doing the seminar actually property and business investors themselves. They do the courses to offer education in this area of investing to new people.

As far as i know they have no links with inside tracks, and they said tehy dont buy or recommend any property in the course and they dont recommend any areas or agents.

theartfullodger

They sound like a bunch of dodgy bent crooks: I could of course be wrong & they may be upstanding & honourable small-businessmen just try to earn a wee crust.

I'd no more give them money than imbibe the effluvium of an incontinent goat...with personal hygiene problems...

Cheers!

Lodger

adg1

When they say that you can be a millionaire in x amount of years, they mean in property. Not in equity which is where I would want to be a millionaire. If I own 4 x 2 bed flats in the area I live I would be classed as a 'property millionaire'.

Ask yourself two questions.

1. How can you buy a million pounds worth of property if you are just a normal person, with a normal amount of savings to invest? Most 'normal' people can't get a mortgage at the moment in order to buy one property, let alone 3 or 4 or the multiple units you need to be able to achieve the dream they sell to you. They sell a dream, and you pay them up front for that priviledge - they don't need you to invest in any property at all after the actual paid for seminar to earn their money.

2. If you were a multi-millionaire investor, with all the inside knowledge and methods they teach you, would you pass it on working under the umbrella of another company and paying them part of your fees? I wouldn't. I'd advertise myself and teach people myself for the full whack.

Its up to you if you go to the seminar for £0000's. They don't need to recommend any agents or property on the course - you have paid upfront for the information, before knowing what it is they will teach you. All they teach is methods that your could use, with a little investment on your part, to buy houses/business/whatever and make a potential profit from them.

Typing RichDadPoorDad Seminars into google brings up FAR too many warning stories for it to even register on my legitimate investment possibilities radar.

Also, and this is simply a side point - I used to deliver company cars to Inside Track. The people I delivered to were simply sales people, not property investors. They seemed to open up a bit knowing that I wasn't likely to be at any of their seminars!

theartfullodger

The people doing the seminar actually property and business investors themselves. They do the courses to offer education in this area of investing to new people.

As far as i know they have no links with inside tracks, and they said tehy dont buy or recommend any property in the course and they dont recommend any areas or agents.

a) Too positive a write up.. ? Troll-like behaviour??
b) Spelling?
c) Note to self: Beware miss-spelling in my futures posts...

bitsandpieces

There's nothing wrong about studying property/land economics - a very interesting topic. The course isn't cheap, though, and they don't seem to be an accredited institution (despite calling themselves an 'academy'). Have you checked out what local colleges etc. are offering?

Did you learn anything useful in the 2hr seminar? Also, be very cautious if they're overpromising - if there were an easy, safe way to turn minimal savings into a truckload of money, don't you think people would be getting v v rich rather than wasting their time running seminars.