Has anybody heard of or gone to the Rich Dad ... Poor Dad event?

geek84

Hi Folks

Has anybody heard of or gone to the Rich Dad ... Poor Dad event?

I have a complimentery tickets & will be going this week.

It's going to take a few hours and I am just wondering if it will be worth it, or just another one of those events where they try to part you from your money.

Thanks

kelloggs36

Never heard of it - what is it?

Browntoa

well if its anyhting like this

http://www.richdad.com/default.aspx

its got AVOID + HARDSELL written all over it

budgetflyer

The Rich Dad Poor Dad book was one of my main inspirations to starting a property portfolio.So I am a fan of his- however
this event will probably be promoting expensive "member services or courses"
Id suggest buying the book , reading that, b4 parting with any money, because most of Robert Kiyosaki's strategies are "High Risk,fortune favours the brave type investments"
One of his favourite sayings is "If Im gonna go bust, it wont be for a crappy $20K condo"

geek84

Hi folks

Thanks for you replies so far.

budgetflier, I also want to invest in a portfolio of properties. Howver, I am not much of a DIY person. Do these properties require much maintenance to do, and would it cost much if I asked someone else to do the maintenance?

Thank You.

budgetflyer

Most managers are going to charge you 10% + any expenses.
I manage mine myself.
Useful sites are http://www.singingpig.co.uk/forums/ and http://propertytribes.ning.com/forum.
A month spend reading all the threads on these sites will warn you against many pitfalls.
No money down strategies are almost impossible nowadays and anyone promising a "no money down package deal" is likely to fleece you.
Saying that, there is good money to be had if you are in for the long haul. I just wish I had surplus money to invest!
You can buy flats here in Scotland, in OK areas for under £40K.These rent all day long to suitable people on benefits These should after interest payments and other expenses, show a surplus of around £250+ per month. On a £12K investment (deposit + legals etc) thats around 25% return PA

JennyJewell

Hi
I haven't been to an event - mainly due to costs but I have read some of his book which is quite inspiring It's quite a hard and long book to read but some of the stuff he has done to get where he is is brilliant Hope that helps
Jenny

PasturesNew

You don't have to buy the book.... if you google carefully for 5-10 minutes you can probably download a copy free. I think I managed to a few months back, not read it yet though.

azmilsyahmi

Lucky you. I wish I had a chance to attend one of his talks. I have read and reread most of his books. Wish someone had recomended his books sometime ago then I won't be in this situation. BUt its ok now I am slowly reducing his debt. Go with an open mind. His books don;t only say about real estate portfolia but how to be financial free. :j:j:j

geek84

Good Morning

I went to one of his seminar's the other day - it was for 2 hours. In the seminar, you are not told much anout anything than common sense i.e. buy stocks/shares when prices are low & sell when prices are high. However, the seminar did start from the basics - that is why it took the 2 hours! You are also told to look in the press and company prochures for past performances etc.

However, the guy who gave the talk was more geared to selling their 3 day course at the price of £500! On that course, he claimed that knowledge will be gained about how to look at past, present & future performances and therefore when to buy/sell stocks/shares to maximize profits etc. He also claimed that the potential profit to be made would pay for this course itself again & again!

In your opinion, do you think that the course is a bit pricey and in all honesty I should give it a miss?

Thank You.

GavB79

On every single investment product I have seen to do with shares, they carry the disclaimer 'past performance is not a guarantee of future results'.

These seminars are always about the up-sell - pay your £500 to be told that the real money secrets are on the 5-day course that costs £5,000.