$75,000?!?!?! SERIOUSLY?? Wow!! I will say this...I will make a great offer to all the people here on BP... For only $50,000 I will personally fly out to your house, and spend one day with you teaching you everything I know...and what I don't know..I'll make up on the spot and you won't be the wiser... PM me for my offshore account info. :)

People dream of financial security, but most dont have the foggiest idea what they could do to achieve it. If they happen to stumble upon a potential path, few of those actually believe in themselves enough to make it past the first steps. Of the few that make a start, only a few of them develop a passion for it that drives them thru the failures and keep them optimistic. The old tapes come back telling them that they arent one of the "special few" who actually acheive their dreams. I see REI training and mentorship programs in the same light as multi-level marketing, whom play and prey upon peoples dreams and take peoples hard earned money while they know that 97% will fail. These programs dont teach building a solid business in a career one has the aptitude to succeed in. They sell dreams. They deliver motivation. And they prey upon those who think their only path to success is being led by the hand by an "expert". While virtually ALL the info needed to become successful is available in books and on sites like this, the self-confidence, drive, determination, and dedication can only be found within. If it isnt there, $75K aint gonna buy it. And if one had it, they wouldnt need the programs to pursue their dream. People succeed because they have passion for what they are doing. Anyone with money or credit can buy an investment property and create some passive income. But few have the passion and drive it takes to focus their energy into finding the deals, handling the roadblocks and hearing the "no's", and taking the associated risks on an ongoing basis that is requisite tor building a real estate investing business. Simply buying an investment property doesnt an investor make. Rich Dad has a regular thing going here in Anchorage. I resent the hell out of it because this is not an investors market by any stretch. It is now and has for many years been a sellers market. Even the dumpiest fixers are priced for the retail buyer. It is a strong rental market, but the boat loads of cash and credit it takes to acquire rentals will ensure that for most, the dream will remain just a dream. I call myself a "contractor" because thats what I am. I have a passion for breathing new life into worn out properties. When I walk into a property I see it for what it could be, rather what it isnt. My eyes and ears are always open for workable deals but if I wanted to make a living being an "investor" in Anchorage Alaska Ibe mighty hungry. I do rehabs for landlords all the time. They own investment properties, but they have careers that earned them the ability to finance them, and do so to provide them more security in retirement. They dont see themselves as "investors" and neither do I. There are newbies that come here every day with the dream of acheiving financial security thru real estate investing. Thats awesome! I just think that a great addition to the site would be a forum area dedicated to helping people identify what passions, talents, skills, desires, etc. lend themselves to a career in REI. Understanding finance, what makes for a sound investment, and what it takes to rehab is nothing without the ability to present ones self in a professional manner, the confidence to negotiate a deal, and the self esteem to hear the word "NO!"... Repeatedly. For the "guru's" to be truly effective, they would need to be career counselors as well as RE "experts".

I'm not opposed to spending serious money for good education, especially a life-changing experience that leads to an improvement of lifestyle, as one seminar did for me many years ago. I even have an acquaintance that is a Rich Dad advisor who I believe is a solid guy. That being said, if you read the original book, "Rich Dad, Poor Dad" your BS meter should have either become fully deflected or at least pointing well into the orange area. When I read the chapter quotes from the other 'experts' I thought it was satire, but no, they were really toughting this claptrap. As for John T. 'Jack' Reed, and his rate-a-guru list, I believe his intentions are sincere, however he has some pretty quirky ideas and some erroneous conclusions. Jack did NOT make hs money in real estate, and that's all I will say about that. So, how do you vet out the real deal mentors from the dream merchants? It ain't easy, sometimes. However, this is a good place to start. And as far as spending serious money for training goes, it may well have its place, particularly for niche category and special areas of education/skills, but not at the beginner level. Read posts here, buy books, listen to cd's, attend RE club meetings, but leave your credit card at home until you understand what it is you wnt your money to buy in terms if education.

I have a friend who did a 5k mentorship program a couple years ago with Rich Dad. He was very dissapointed in the coaching, the coaches are not experienced real estate investors. I have taken my share off seminars and bootcamps. My money would have been much better spend hooking up with a successful rehabber and working for him for free for a year. Study everything you can get your hands on in your chosen field. Get some experience working for/with someone in the area of real estate you want to learn. You are much better off hiring someone local who is doing what you want to do, that can help and advise you as the issues come up. Spending 15k for advise on a broad range of subjects you wont need, and not having someone who can address your specific problems as they come up, and they will. Good Luck in your endeavor.

The only reason I wanted to go for the second day was to sort of warn the people in my table. I can't really call this a scam because they are offering a service but at the price they are doing it and telling people it's ok to use credit cards or borrow to pay this debt pi$$ed me off. Everyone in my table didn't show up, I feel like I did a favor lol. Don't want to discourage you but don't let them brain wash you.

I agree with what Collier H. said, save your money and check out this website!! A Canadian consumer watchdog group investigated Rich Dad coaching seminars/salesmanship and found it to be set up like a scam. I love the "Rich Dad" book, just be careful with the mentorship program You can form your own opinion: check out the videos here: http://youtu.be/HE6nT0oyPt8

checkout the "guru ratings" by john t reed through google.

No problem the other thing I wanted to say by reading a lot about real estate investing before you get involved you will see what suits your personality in this business. Some people make better landlords then wholesalers and others are better rehabbers or better at buying tax deed investments or assigning contracts and ect.

Its too much just read his books most of them are in the library and 15k for a course non sense. you can buy a 4 year degree with 30k. Just hit the library in the real estate section and read every book u can on investing then read about finance and accounting. also you can borrow books from other libraries just by asking your local library to send it on over. Authors like Robert Kiyosaki,Trump,Ron Legrand,Conti Finkle,Sam Zell. William Bronchick,Shemin,Larry Loftis, John Beck, Plenty have books that cover real estate. They all might want to upsell you into an expensive bootcamp. This forum just by searching subject matter can teach u a lot as well. Hope this helps. btw welcome to BP Cody enjoy we are a big community of real estate investors and ect helping each other without asking you for money;) I will say this I do budget at least 200 to 300 a year for education annually in my business. PS: There are plenty of battle tested investors in this forum to help out!

Hello Cody... Save your money! Just dig in here at BP. Tons of great info on this site... Good luck!

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Updated over 9 years ago, 10/14/2015

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Cody C.Poster

Central Point, OR

Guru, Book, & Course Reviews

Rich Dad Coaching?

Cody C.Poster

Central Point, OR

Posted February 01, 2013 21:04

Hello!

I'm a recent new member to this site, and I think it's an excellent resource for people like me who are brand new to RE investing.

I've had the "privilege" to attend a 3 day "intro to REI" course put on by the rich dad company. I just got done with day one, and headed into day two tomorrow. We have decided NOT to purchase their 15k-75k course/mentorship programs this weekend, and to do some research into alternatives. My concerns:

Price -While I realize that coaching/mentorship is very important to avoid pitfalls, and help one stay on course... This seems to me to be pretty steep...

Content -I think there are probably ways to find great content for free online/through people/biggerpockets... again, not sure about the value that they are selling.

context -arent most of their coaches hired to do that job? What are the odds that that coach has seen the battle trenches, and otherwise walked the walk?

Any input from folks on here?

Thanks,
Cody

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