Robert Kiyosaki

[jaydub]

[ QUOTE ]
jaydub,

So do we agree, on the following 2 things?

1. The RDPD "story" is a work of fiction
2. Some people have benefited from reading the RDPD "story"

... and assuming we agree...

then why when someone is talking about #2, is it necessary for you to focus on #1?

[/ QUOTE ]

My original post was an attempt to explain the gap between the love and hate RK camps. People hate being lied to, this is especially true in the context of financial matters.

Yes I agree that some people have benefited from his materials, would you agree that some people have not? Surely that must be included as #3. From there we can quickly get to why he inspires so much hate and why he inspires so much love.

There are several relevant groups of people with regard to RK:

1. People who have benefited from his materials.
2. People who have not and feel conned.
3. People who see the tactics he uses and disapprove.

These are not exhaustive but are in my mind the most relevant segments. I doubt these three segments will ever come to agreement on the man.

J

[w_gibbs]

[ QUOTE ]
People hate being lied to, this is especially true in the context of financial matters.

[/ QUOTE ]

qft

[Snafu'd]

So what authors are considered extrememly knowledgable and realiable when it comes to real estate investments? I've seen Reed's name mentioned in this thread extensively but it seems to be in regards to his dislike of other authors.

[Tien]

It really depends on what your goals are exactly about real estate.

There are two different real estate groups:

Cash is king vs Passive income

1) The cash is king group focuses mainly on "flipping houses" for short term cash. Buying distressed properties creatively at way below market value and reselling it at market value. This method allows you to generate huge amounts of cash. The trick is buying the right properties.

2) The passive income group focuses on buying properties and holding on to them. This method will allow you to build an empire of wealth which will essentially be your ticket to retirement.

There are different authors for each group. Books however, only scratch the surface. It is like David Sklansky with poker. He doesn't teach you the nitty gritty details of poker. If you really want the people who will teach you the nitty gritty details of each group, you need to hit up the gurus and seminars. This is the danger because most new people don't know which ones to go to any many of them are blackhole for your wallet without giving you much substance in return. However some Gurus out there are true bonafide practitioners that will grind every single detail step by step for you. If you are interested I can tell you which gurus are really good.

A good book to get started however is:

The Millionaire Real Estate Investor by Gary Keller.

[Jeff W]

I read this in a Kiyosaki article that was linked on another board I follow:

[ QUOTE ]
Among other reasons, they all involve putting money into an investment vehicle [mutual funds] over which investors have little control. And since most people end up choosing mutual funds as their primary investment within these plans, playing the lottery would be a better way to go.

[/ QUOTE ]

[ QUOTE ]
But isn't there a better chance of making money in a mutual fund than there is in the lottery? Hardly.

[/ QUOTE ]

Unbelievable. Anyone who spews [censored] like that can hardly be relied on for investment advice.

Link

[eastbay]

[ QUOTE ]
jaydub,

So do we agree, on the following 2 things?

1. The RDPD "story" is a work of fiction
2. Some people have benefited from reading the RDPD "story"

... and assuming we agree...

then why when someone is talking about #2, is it necessary for you to focus on #1?

[/ QUOTE ]

FWIW, from the first five minutes of reading RDPD, I thought it was pretty clear that the "Rich Dad/Poor Dad" thing was just a storytelling device.

So while I also don't think much of the book, I have to chuckle when people act as if there's been this big deception by Kiosaki about "Rich Dad."

I also heard that the "Ten Minute Manager" was not a real person, and that there weren't actually two little actual mice who had their Cheese Moved. I demand an explanation for this outrageous deception!

Maybe John T Reed can get on the investigative journalism trail of Sniff and Scurry next.

eastbay

[PanchoVilla]

To me the difference between a John T Reed and and RK is night and day. RK is primarily motivational type writing. Reed is details, facts, and examples. Specific ones. I said before I did read RDPD and it made me change my point of view. Reed's books are excellent for the how part. He gives detailed techniques for ways to make money in real estate. Then he gives specific examples with names and dates of deals that he personally has done, or that have been submitted by his newsletter readers.

Yes Reed is not a fan of the huge number of RE "experts" out there. It doesn't change the examples of bad advice he points out.

So my personal point of view is that RK is great to read when you are starting out. If you want to put together a specific set of the how part, then if its RE related, then Reed's books are excellent. Maybe its because I am an engineer and the fact/examples based approach works better for me. Probably another factor is how much I have read about the horrors that are MLM. Anything even remotely conected to that is going to start off being viewed very poorly by me personally. Read both sides of the argument and decide for yourself. If you do the wrong thing you will be the one paying the price, so you may as well make the actual decision too. [img]/images/graemlins/smile.gif[/img]


Pancho

[esevans]

[ QUOTE ]
I read this in a Kiyosaki article that was linked on another board I follow:

[ QUOTE ]
Among other reasons, they all involve putting money into an investment vehicle [mutual funds] over which investors have little control. And since most people end up choosing mutual funds as their primary investment within these plans, playing the lottery would be a better way to go.

[/ QUOTE ]

[ QUOTE ]
But isn't there a better chance of making money in a mutual fund than there is in the lottery? Hardly.

[/ QUOTE ]

Unbelievable. Anyone who spews [censored] like that can hardly be relied on for investment advice.

Link

[/ QUOTE ]

Thanks, Jeff W. Kiyosaki is an idiot pure and simple. Actually, now that I think about it, he is a genius. How else can you put out crap like that and make $$$ selling books, etc.

[wdcbooks]

That article that was linked is among the single dumbest pieces of finance writing I have ever seen. It is slippery, odious and grossly disingenuous. I really had no opinion about Kiyosaki aside from the basic contempt I have for writers of cheesy self-help books, before I read that article. After reading it I can't imagine there is anyone who takes him seriously.

[RikaKazak]

[ QUOTE ]


RDPD is one of the most important books I have ever read.

If you already know what he's teaching, I can see how he can be annoying...but if you don't know it, it can be valuable advice.

[/ QUOTE ]


I missed this thread...but I agree with this.