Write a New Book Before Real Estate Investing?

Question

Robert Kiyosaki started his business career basically by writing a book (Rich Dad/Poor Dad) and using the proceeds (royalties) to invest in real estate properties.

How many people here have thought about using the same strategy?

Don Konipol · Answer

No , actually some research into his background reveals very limited success - until he wrote a book on success!
It's noteworthy that his book had little or no specifics - it was basically a general outline of how to "think rich".  The people most smitten were (1) people with a product/service to sell that were able to somehow relate the product/service to his book and (2) people with a non business type background who were wowed by a few relatively simplistic business-investment concepts.

Think of  Mr. Kiyosaki as a celebrity, an actor playing an investment guru!  Reminds me of when just after the TV show Dallas ended, Larry Hagman was pitching an investment in an oil fund.

Vikram C. · Answer

Publishing a book has a low probability of success, particularly if you have nothing interesting to say.  Just because someone else may have done it does not mean that you can do it as well.

I think your time may be better spent learning about the subject by doing some deals.  Later, if you wish to publish a book, you will at least have something useful / interesting to say, thereby increasing your odds of success.

Jon Holdman · Answer

You need money to invest.  Whether that comes from a day job, a real estate job (e.g., agent, wholesaling, rehabbing), or writing a book, doesn't matter.  If you can write a book that actually generates some sales and income, go for it.

But like Vikram says, its a tough business.  The author's share of the sales price for a book published and distributed through traditional channels is minuscule.  You'll get a better cut through newer channels, like Amazon's Create Space.  But you will be on your own for promotion and getting it into stores (if you want to do that.)

Books are a "hit driven" business.  "Angry Birds" is a phenomenally successful mobile game.  Yet "Rag Doll Blaster", written by a local company here is very similar and yet not anywhere near a hit.  Why?  I haven't a clue.  I believe you have to work really, really hard to have any success.  But you also must just plain be lucky, too.  Right product in the right place at just the right time.  Hit driven industries require, IMHO, a high degree of luck.

Don't really think Kiyosaki's success is in real estate.  Its from his education business.

Account Closed · Answer

I have a friend that is published. Her book(s) are in every Barnes and Noble and Borders. She gets 25 cents a sale. She is not a best seller. She quickly moved to other products - digital books, coaching, etc...

Like Kiyosaki, she is brilliant at marketing herself (that is how she got the book deal).

Writing a book first seems like a tougher road if you're not passionate about writing and marketing.

Curt Davis · Answer

I think his success was a little more then writing a book then investing.  Success usually comes first, then books and products come 2nd.

Write a New Book Before Real Estate Investing?

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