The truth about Rich Dad Poor Dad seminar (big scam)

By
Real Estate Agent with Coldwell Banker Residential Brokerage
http://actvra.in/Nx

I did attend many seminar in my real estate career as I strongly believe on education.

I went to the 3 days seminar rich dad poor dad on Maui about a month ago.

I paid $500 for it and all they did was making you believe that without them it would not be possible to become a real estate investor. They where degrading The real-estate industry by pointing out the Realtor and making them look dishonest and new nothing about what they where doing. Basically to them we where useless...

Not only they insulted me and my fellow Realtors but they where using emotional trigger to make people feel that they could only succeed in life with their formula and books.

I dind't learned anything and they asked us to pay $32,000 to get a mentor to be in the Real-Estate game...

Some people where so naive and borrowed money to friends and family thinking they will become rich!

I saw  a single mother with 4 kids who brought her life saving...That really broke my heart...I was lucky I only kist $500

What a scam!

Thank you for your help and support!

Many waves of Aloha to my readers.

Stephanie

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the graph to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Location:
Hawaii Maui County Wailea Wailea-makena
Tags:
rich dad poor dad scam

Comments 168 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tree to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Anonymous
Steven

Since the money invested in the seminar has gone, do you guys and girls have kept any free copy for all the follower or in other word giving out all the Rich Dad Poor Dad copies over here?

 

 

September 14, 2011 09:06 PM
Anonymous
Wasim

I'm unemployed, no job and no business, but it realy doesn't take much business or common sense to understand that when someone asks you to pay them in exchange for a some kind of secret method of making money, that the secret method IS infact the cash that you just handed over. That's pretty much it. I could very easily gather together regurgitated material, re-package it up and have a headline on a web page that reads something like, "Find out how to earn cash from home on your spare time" ..... bla bla bla .......... only $97 ...... etc. The way that I would have made my money would not have been from practicing the methods I was teaching but by just simply selling the re-packaged material.

I'd much rather be ethical, with little cash, than to spend my life rich but knowing deep down inside that i bullshitted people.

October 12, 2011 05:29 PM
Anonymous
Jason

I feel something went wrong with your view of your classes. I've taken the $35,000 classes in both Real Estate and the Stock Training. I used what I had learned from Andy Tanner in the 3-Day Stock Seminar to earn enough money in my Stocks that I could pay for the higher end classes. My stock success then led to the ability to pay for my real-estate classes. All this being said, I'm only 18 years old and glad I got in on this when I had the oppurtunity. The classes and mentorship are great, as is the philosophy. I hope that if anybody else goes to any seminar or advanced classes you do so with a positive attitude to walk away with everything you can, instead of being so cynical of their reasons to teach the way they do. Good luck to all.

October 16, 2011 09:59 PM
Anonymous
Steve

Just sat through the first half of an evening seminar on taxes. They are actually tell you to donate to help fight aids. They admit the government will surely reassess your return and you'll probably lose and have to repay the unpaid taxes but you'll be able to keep your money for years!! I couldn't f**king believe it. Two of my friends are in the middle of this mess. Darren Weeks is an unscrupulous con artist. Pure scam. Some seminars are fantastic. They are usuallly not that expensive and there is no upselling. Fast Track to Cashflow is a company to be avoided. SCAM!! Be Aware. I'm a big fan of Robert Kiyosaki and I have to wonder if he knows the things that Darren Weeks is doing. 

November 04, 2011 01:59 PM
Anonymous
Mylo Espinoza

I have to say I am not a realtor a broker or investor...I paid for the 3 day class. I attended a seminar three weeks ago and.....oh before I start, I did let some of my realtor friends know some of the concepts and they all laughed...good keep laughing fools (still my friends though will hang out with them less.) I could not pay for the advanced classes of course I don't have the money...

heres the funny thing people, every comment I hear is about the money for the classes.....too much, doesn't work...didnt learn anything....they are salesman......yes and no........I have not heard one good comment about the experience...maybe because everyone is on the left side of the quadrant....I have always questioned the economics, ideas of real money (counterfeit) and many things that they talk about...and guess what I am so glad.

I will pay for the classes as soon as I can. For everyone out there who thinks its a scam...let it be...leaves more room for me to make more money and everyone who hates can stay in the rat race....

Three weeks after the 3 day course......I just made two deals this week...$600 positive cash flow!!!!!!!!! Everyone who  doesn't open their mind and do...instead of crying...wake up....I am truly on my way!!! (And guess how I made the $600 positive cash flow happen.....I learned it from the 3day course...YOU SNOOZE YOU LOSE...YOUR IN, YOU WIN!!

November 08, 2011 12:44 AM
Anonymous
Angie B.

Wow Stephanie!  you really need to learn how to spell!!  Did you even graduate from high school?  No wonder you had no clue what they were talking about.

March 23, 2012 09:57 PM
Anonymous
SCAM

SCAM! SCAM! SCAM!! Please do NOT fall victim to these high pressure, commission based, sales jerks. They are very persuasive in making you beleive that you cannot accomplish this on your own. This company is not run by Robert, but in fact by Russ Whitney, a convicted felon with a history of regulatory run-ins (http://www.dailyfinance.com/2010/02/25/robert-kiyosaki-taken-down-by-cbc/)

Stay Away, and please make others aware!!!!!

April 04, 2012 01:30 AM
Anonymous
jeff

I went to the three day seminar yesterday...and signed up for the 199 3 day course. On a wim I decided to google the whole thing....I sure am glad that I did! I have faxed in my refund request and called them to verify they received it. If you call the number you can get a fax number to fax it in, its not on the initial paperwork.  200 dollars saved...

 

April 27, 2012 12:18 PM
Anonymous
Sue

I am absolutely agreeing with all of the above comments. It was a great thing that I did not buy into their 3 day Seminar at $199 and you can bring a guest. I mean, it's a good price however, it got worse when I needed time to think. When I was leaving... the cashiers in the back of the room were harassing those who did not purchase the advance training package were calling out "go back to J-O-B" and pointing their fingers. They sounded upset and that was a HUGE turned out and I could care less about rich dad now! I rather do what many of my friends are doing and that's protecting family with index universal life insurance. Plus, you get free mentoring, they pay you for training, and you don't have to spend more than 125 bucks! Anyone who's looking for a safe business check out www.firstfinancialsecurity.com no sells pitch! no gimmicks! And there's people that are willing to help you for free.

May 19, 2012 09:28 AM
Anonymous
Rose Wilkinson

I went to the $500 "Rich Dad, Poor Dad" seminar and got a lot of mileage out of it for the money. Sure, there was a pitch to upsell advanced training courses. But overall, it was a healthy, "well balanced" sample of the different investment strategies the average person can use who has no credit or no money to get started in real estate.

It NEVER ceases to amaze me how people will pay $25,000... $50,000... or even $100,000 or more on student loans without even the promise of a job once the person enters the work force. But yet, I don't hear one person complaining about a college education being a "scam" because of some stupid piece of paper that's suitable for framing called a "degree." Most of the college professors who teach people only make $40,000 to $60,000 per year, if not less. How can they teach an individual how to truly be wealthy when they are an employee working for a middle class salary?

The reason these real estate seminars were created was for one reason, and one reason only: The red tape surrounding the Security Exchange Commission (SEC) Much like the real estate commission, the SEC regulates the buying and selling of securities to the general public.

In a nutshell, it is illegal to walk up to Joe Blow out of the blue on a cold call basis and say, "Hey buddy, do you have a 401k? Would you like to earn 10% return on your money helping me buy real estate that is 50% or less on the dollar?" The only people you can approach like that on a COLD CALL without breaking the law is an "accredited investor" who is defined as making $250,000 per year and has at least $1 million dollars in net worth. But these seminars are simply a loophole around the Security Exchange Commission's strict rules about raising private equity from your average Joe who wouldn't be defined as an "accredited investor."

The only other "loophole" under the SEC guidelines that it is okay to solicit private funds from an individual you have already proven to have an established relationship with, AKA... a WARM MARKET, or your personal sphere of influence. So, under the disguise of an "education" these real estate investors can pitch you different strategies and bring you in as a partner on their deals slowly over time. But they can't come out of the blue and directly say this. They have to word it in such a way that the person is buying an "education" and slowly establishing a relationship. (Wink-wink.)

In my humble opinion, most people who buy these courses expect that they are going to sit through an educational course. But instead of getting a degree, they are going to get one million dollars upon completion of the program. That's how it works in school, but not in the real world. School is only about theory. Becoming a millionaire is about applying theory to reality and taking action. Knowledge is not power, like they teach people in college. Taking action upon knowledge is power. A theory is only suppose to be a road map, or a guide to help you make as few mistakes as possible along the way... but you are STILL going to make mistakes, no matter how much you sit down, listen and take notes.

I've made several thousands of dollars applying what I learned at a $500 weekend seminar. So for me, it was a good return on investment. But that is because I didn't sit there and whine about them trying to upsell me an "advanced" course I couldn't afford. I took what little information they gave me, researched it further at the library for free, did trial and error on my own and learned a lot. Just being exposed to new ideas is refreshing.

Do I think the advanced training courses are a scam? The answer is - no, I do not. I think the average America is absolutely stupid when it comes to making a good return on their investment. If you go to a stock broker, all the stock brokers will do is try to sell you bank products in order to earn a commission. Once again, nobody thinks that is a scam - but that is the reason we just recently had this huge, massive bail out from all of these major financial institutions. I don't see anybody calling Bank of America or Wells Fargo a scam, but they are the biggest scam ring running, in my opinion. Our entire educational system is a scam. But once again, I don't hear anybody complain, because it's normal to go to the banks to borrow money and go to school to get an education. The reason people think these real estate courses are scams is because it sounds too good to be true that you can go to school for a few weeks and learn how to become a millionaire in a fraction of the time of going to college. But in my opinion, if the education works 10 times faster and accomplishes 10 times more results - it should be worth 10 times more money! But yet, it costs just as much about your average college tuition. Truthfully, I would go myself if I had the money - and I've been in this business for 10 years, both as a Realtor and a full time real estate investor.

Cheers,

Rose Wilkinson

 

May 23, 2012 01:35 AM
Anonymous
Joe

When I heard this commercial on the radio I knew it had to be a scam. Out of curiosity I had to find out what type it was all about -- I know better than to go to a seminar that is advertised. They have to make their money back SOMEHOW! I thought maybe it was a broker selling annuities, or a ponzi scheme con-artist trying to convince people that their home is "dead equity". So it's another one of these "get rich buying and selling real estate" seminars. LOL. I thought the 2008 real estate crisis would have wiped out these seminars but I guess these people never give up.

July 11, 2012 04:32 PM
Anonymous
John

sad to know lots of people spends money for this kind of seminar to get knowledge......

knowledge can be free..........and lazy bunch of peoples are dammed to pay for knowledge....

i have read robert kiyasaki book (i borrow my friends book, i wont pay a single dime for a book), i must admit the book is real good.  when ur a competence person, you will know how to accept the pro and reject the cons. I just absord the positive knowledge, thinks bout the shady knowledge and reject the negative knowledge.

The real problem is the people who attends the seminar itself. They follow blindly, like they are some kind of zombie...

that kiyasaki fellow is human too, not perfect, blaming him for everything, dont u think its a bit unfair for this fellow.

i myself is an arrogant person. i believe i have reach enlightment in investing. and i also look down on the kiyasaki dude. and wants the opportunity to bash him big time, so i read his book. But His book able to enlight me, impress me, and makes me reach higher heights of enlighment.thou some parts of his book is stupid...

and lastly, for his seminar, is the instructor Robert kiyasaki himself? you guys probably expects the instructor have the same standard as the kiyasaki, but its not true. kiyasaki is rich, intructor is an employee, working for money, trying to sell seminars for commission. some instructor have better standards and a good conscience compare to other instructors.,

 

paying for seminars generally are stupid fellows...... End of story......

September 07, 2012 08:52 PM
Anonymous
Steven Moo .See beyond human eyes..

When words being conveyed in a such ridiculous way or aggressive way by any sales person in Robert Kiyosaki seminar, that might turns out to like this “If we don’t do this, we would be like this forever”. And the message would becomes such “literally”, that actually translate the same meaning of whether Robert Kiyosaki is telling us to “get a job” or “don’t get a job”, literally.

So be careful, Rich Dad Poor Dad does actually tells us how he makes money in the “practical” way, that people like to learn how to be rich in many ways, that we won’t notice it ourself after all, that he creates demand for it easily, since the emotion or the will to become rich is in such a demand in the market at the first place when he starts to sell his books.

Generally seminar is not for stupid fellows, but is a type of method used to convey message to a interested group of people within a short period of hours, either the outcome from this seminar is for selling products or promote any services available. 

Stay calm and you will know what I'm talking about.

 

 

 

October 13, 2012 08:44 PM
Anonymous
Steven Moo. www.stevenmoo.com

For those who do would like to know what Robert Kiyosaki is talking about, I would be kind to explain.

For the mean time, just save your money first and know your cash flow basis. Currently I'm assist my client how to build up his / her business for cash flow calculating from zero cash flow management knowledge.

In other words, revenue - (cost + expenses)  + (tools + skill) to manage a business.

as in otherwords, how Robert Kiyosaki is making money .... kindly do a survey yourself or I would be kind to explain too.

October 13, 2012 08:54 PM
Anonymous
Boni Canovas

In response to Steven Moo (163/164)

Robert Kiyosaki, author of Rich Dad Poor Dad files for bankruptcy

DigitalJournal.com‎ - 11 hours ago
Personal finance guru and author of the New York Times bestseller "Rich Dad, Poor Dad," Robert Kiyosaki, has filed for Chapter 7 bankruptcy ...

PS: I was scammed out of $500!

 

October 13, 2012 09:28 PM
Anonymous
Steven Moo. www.stevenmoo.com

How Robert Kiyosaki is to be in bankruptcy would have no impact or influece that we would become bankruptcy sooner or later, same with the meaning of Robert Kiyosaki is rich doesnot mean we all gonna be rich after joining whatever event he holds.

So paying fees that guarantees RICH or gaining experience or for what at the first place?

October 14, 2012 02:57 AM
Anonymous
Michael wilson

Most on this put down of robert kiyosaki are afraid of losing money and seems to me have not read any of his books, So sadly most of you will remain poor and middle class, And if you spent more time reading maybe you would have a better understanding, Rich brother, Rich sister is a good book, it talks of spiritualism and goes more into depth about what his life is about, People have choices what they spend their money on, sadly its the judgemental who get nowhere

January 09, 2013 05:38 PM
Anonymous
chris from ab

Its posts like these that really open my eyes...if you cant offord to lose 500.00 dollars left alone an actual sum of money... then your in one hell of a tough place. I've spent around 30k on education last year, only difference is I actually applied what I learned.

and I'm financially free!

My opinion, most live in fear...always looking for the scam exit.

I bet only about 5% of people who actually pay to go to seminars will get any results, because most are cheap people who can't afford to make a mistake.

Wake up please.

Employement will be challenged, our currency will be challenged, and your spirit will be challenged.

 

April 27, 2013 06:29 PM
Anonymous
Rocky Venti
I have been investing in Real Estate since I was 31 years old (am now 72) and NEVER feel bad about paying for more education. I paid $299 for the 3 day workshop and have not attended yet. The free seminar, and accompanying materials, opened my eyes to what I did not know by being poorly educated and self-taught. Mostly I did NOT leverage my funds to their utmost ability. If I had known just a couple of things I learned in the seminar I would be ten times richer today. I probably will not pay for any mentors but don't mind paying for some education. I would suggest you at least start applying what Mr. Kiyosaki suggests. Read his (and Donald Trumps) books and map out a plan for yourself. There is no more rewarding feeling than having your money work for you while you are sleeping and purchasing even more when the market dictates. I am willing to help people with some advice. If I get only a couple of people that want my advice it will be free. If I am overwhelmed I will stop or have to charge for it. I never made more than $20/hr. when I worked and now have an empire approaching $1.3 million. The reason these people charge money is because they can't give it away free or it will totally eat up all their time and they have to prosper also. Consider the mentoring fee as part of an education that will one day make you rich. The one thing I learned a long time ago was told to me by I do not remember: "You can't get rich working for wages" and you are just: "trading your time for money". You MUST leverage your time and funds or you are doomed to a life of working from paycheck to paycheck. You will NEVER get ahead that way. Mr. Kiyosaki has done what he learned to do and was kind enough to share his information with me. God bless him (his wife and team also)...
December 15, 2013 05:00 PM
Anonymous
MrIconoclast
Wow what a tool.....work your ass off rich dad, and when you die, we can stuff you with your money and put you on a shelve as a monument to greed.
January 23, 2014 04:31 AM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the key to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainer
61,475

Stephanie Perrault

Realtor Associate
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the umbrella to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information