I think Im going to be sick ...

[MJ DeMarco]

Reading this makes me ill ...

Poor saps are going to pay $45K for information that can be found for FREE. High pressure sales tactics (for $495) only to be upsold to more stuff.

Imagine the people that pay for this stuff ... the debt of the seminar will handcuff them for years.
:cuss:
http://forum.richdad.com/forums/tm.asp?m=618258&p=1&tmode=1&smode=1

 

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[Runum]

Man what a coincidence. I was just reading that entry and making the exact same observation. What a huge hole to put yourself into to get started!:cheers:

 

[running dogg]

Russ Whitney is a disgusting excuse for a human being, and if he sues me for saying it, I'll get some people together and bring his empire of scamming crashing down, even if I have to play Samson. That's how disgusted I am with him and his tactics. I saw what he did to Creative Real Estate Online after some posters trashed him. He threatened to not only sue them, but utterly destroy them, professionally and personally. It reminds me of the "freak outs" L. Ron Hubbard pulled on his critics.

Also, the $45k is for ONE SEMINAR. There's a graduated scale, like in Scientology. At the end, the total cost is probably something like $100k. If I had that much money, I wouldn't need a seminar, I'd need a wealth manager, like the kids of billionaires have to manage their dough so they can keep the tabloids in business. If I could get a $100k credit card limit, I wouldn't need Whitney either.

I'm financing the startup costs of my e-commerce website on cards, and already I'm starting to get nervous. I'm thinking of getting a personal loan to pay down the cards so I can continue. If some dumb seminar guru told me to sweet talk my bank into giving me a $100k credit limit, I'd tell him to go pound sand, because it ain't gonna happen.

 

[andviv]

Can any of you comment on wealth managers, based on your experience?

 

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[royemunson]

Yes, if this is nuts. This is why I dislike the so called gurus. Once your in their funnel, their sales tactics are to continue to upsell you until you've spent more than you can afford.

Heck Diane Kennedy has a real estate seminar in Hawaii that is 30K.

They make you feel like you can't be successful until you spend this kind of cash.

Joe

 

[Peter2]

Can any of you comment on wealth managers, based on your experience?

If a wealth manager is sooooooo good, how come he still has to work?

 

[andviv]

well, if that were completely truth then Roger Federer or Tiger Woods would need a coach? They are clearly the best on what they do and still need coaches. Same with singers and actors. Or maybe these comparisons are stupid.

Let's talk about business people... the most important CEOs also have coaches --called advisers or something else, but the concept is the same.

I do know of rich people using them, and knowing that there are so many wealth people in this forum that's why I ask.

 

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[MJ DeMarco]

well, if that were completely truth then Roger Federer or Tiger Woods would need a coach? They are clearly the best on what they do and still need coaches. Same with singers and actors. Or maybe these comparisons are stupid.

Let's talk about business people... the most important CEOs also have coaches --called advisers or something else, but the concept is the same.

I do know of rich people using them, and knowing that there are so many wealth people in this forum that's why I ask.

Thats a great analogy however I think a coach that Tiger Woods might use and a coach that the "Russ Whitney's seminar-lecture-circuit" provides are two different things. The speakers make millions selling seminars and educating people on book theory which, with discipline, can be learned from a book. The lazy mentality, "I want someone to show me step-by-step the road to wealth" is why these seminars are big money winners for the guys the propagate them.

Not all education is treated equally because each carries a cost.

People worth millions don't go to work for Cash Flow Technologies or Russ Whitney. They don't sit on the phone in some office in Phoenix and "coach" callers.


No one has contacted me. Peter? Anyone contact you to be a mentor? SteveO? Russ?? Anybody?

 

[snowbank]

Thats a great analogy however I think a coach that Tiger Woods might use and a coach that the "Russ Whitney's seminar-lecture-circuit" provides are two different things. The speakers make millions selling seminars and educating people on book theory which, with discipline, can be learned from a book. The lazy mentality, "I want someone to show me step-by-step the road to wealth" is why these seminars are big money winners for the guys the propagate them.

Not all education is treated equally because each carries a cost.

People worth millions don't go to work for Cash Flow Technologies or Russ Whitney. They don't sit on the phone in some office in Phoenix and "coach" callers.


No one has contacted me. Peter? Anyone contact you to be a mentor? SteveO? Russ?? Anybody?

Be my mentor MJ?(seriously):smxB:

 

[MJ DeMarco]

Be my mentor MJ?(seriously):smxB:

That's the point of this forum! To have real millionaire mentors! Not some guy in an office that was hired for $20/hr to play the part of a successful businessman. :smxG:

 

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[kimberland]

The lazy mentality, "I want someone to show me step-by-step the road to wealth" is why these seminars are big money winners for the guys the propagate them.

I'm wary of any mentor that won't talk about downside
(everyone can do this, you won't lose money, etc).

If you're playing the stock market,
there will be bad days, bad decisions.
You'll end up losing money.
Just part of the game.

If you're leading projects,
some will blow up in your face
and you'll likely get fired
(or as I call it... taking the hits for the team).

: )

 

[andviv]

MJ, I think we are talking two diff things in here; my mistake for mixing things up.

The post was about Whitney and RDE. Then somebody mentioned about Wealth Coach/Strategists. I do know of a rich guy (you know him as well) that uses wealth coaching and told me it was worth every penny (and it is not cheap!!). I was asking about that in particular; probably should be a separate post.

 

[Peter2]

MJ, I think we are talking two diff things in here; my mistake for mixing things up.

The post was about Whitney and RDE. Then somebody mentioned about Wealth Coach/Strategists. I do know of a rich guy (you know him as well) that uses wealth coaching and told me it was worth every penny (and it is not cheap!!). I was asking about that in particular; probably should be a separate post.

I suggest that you start a new thread where we can talk about this issue.

 

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[Russ H]

Originally Posted by PhxMJ
No one has contacted me about being a mentor. Peter? Anyone contact you to be a mentor? SteveO? Russ?? Anybody?

Yes, I do get the occasional request, from various places (everything from B&B mgt, to wealth building, to home theater design/construction, to building a business).

My answer:

That's why I write.

These days the writing is on the forums. In days past I wrote for magazines (before they became internet roadkill) and taught workshops.

Got paid well for it, too.

-Russ H.

 

[MJ DeMarco]

I mean, has anyone from RD Corp, or Russ Whitney Corp, contacted you to be a mentor. They are selling mentors.

 

[Russ H]

ROTF, LMAO

No, RK has not been calling me to mentor for him.

He fired me, remember? :smx19:

http://thefastlanetomillions.com/showthread.php?p=1519#post1519

http://thefastlanetomillions.com/showthread.php?p=1554#post1554

-Russ H.

 

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[FT1]

This is what I found most disgusting, assuming it's true:

But one of the things we found most distasteful were the "homework" exercises of calling up your credit card companies and getting them to drastically increase your credit limits. This was done under the premise of getting the $$$ for future real estate investment. Only on the 2nd day do we find out it *CONVENIENTLY* allows you to pay for future Rich Dad Education / WIA courses since they would only accept credit card payments -- IN FULL -- for these future courses.

 

[cantwait2]

Property gurus have been charging up to $50k on this side of the globe for the duration of the property boom. Unfortunately there are always people clinging to the illusion that there is an easy way. They keep paying which is why these guys stay in business.

It's like spam, someone's buying.

 

[yveskleinsky]

I was there, and yes they do take an intermission/lunch so people can go call their credit card companies to increase the amount of available credit. I increased my limits by $25k! ...Which is awesome, and I love having access to all that low cost (0% for 6 months) money- but hell if I bought anything there! Lots of people did. It was a super hard sell and there was this whole level of status given to those who joined. After all, they were the real action takers. Lame.

 

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[Russ H]

Funny thing is, I have older tapes and CDs from Robert Kiyosaki where he talks about how you can learn a lot from books and DOING, and that going the seminar route, while it can lead to success, can just as easily NOT-- and-- he says it's too expensive, he didn't see it being worth what the seminar leaders were charging.

RK's past seminars (5+ years ago) focused on selling his books and tapes. He really didn't try to "up sell" his students into seminars where they'd spend thousands of dollars.

Times change.

-Russ H.

 

[andviv]

He has said it before. The only way to make it to the billionaire level (which is his next goal) is to have "infinite returns"
For him using these seminars is great ROI as he is not putting anything else than his name and others make him the money by using the old pressure-based seminar schemes.
And just wait until his company starts pushing his franchising down everybody's throats. I can see the only way for franchisees will be to sell the RDE seminars.

 

[yveskleinsky]

Reading this makes me ill ...

Poor saps are going to pay $45K for information that can be found for FREE. High pressure sales tactics (for $495) only to be upsold to more stuff.

Imagine the people that pay for this stuff ... the debt of the seminar will handcuff them for years.
:cuss:
http://forum.richdad.com/forums/tm.asp?m=618258&p=1&tmode=1&smode=1

Just curious- I'm assuming that when you posted this link that the link was active and not all deleted posts. (Very 1984 of the RD site.)

 

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[nomadjanet]

I'm wary of any mentor that won't talk about downside
(everyone can do this, you won't lose money, etc).

If you're playing the stock market,
there will be bad days, bad decisions.
You'll end up losing money.
Just part of the game.

If you're leading projects,
some will blow up in your face
and you'll likely get fired
(or as I call it... taking the hits for the team).

: )

This is soooo true & no one wants to say it or to hear it. You will lose money on some deals. No one hits a homerun every up to bat.
++++ Seeing both sides of a deal makes us better business people.
Janet

 

[MJ DeMarco]

Just curious- I'm assuming that when you posted this link that the link was active and not all deleted posts. (Very 1984 of the RD site.)

Thats called damage control - you can't sell $50K seminars and have your own forum exposing the BS that it is.

 

[yveskleinsky]

I think this was from a post that I started on the value of the Whitney training. In my defense, I kept getting hammered by people who didn't read the whole friggin post. I would have never paid anywhere near $50k for training, I was just wondering if anyone had and if they felt it was worth it.

...I like how the mods response to the deletion is: "Does not add value". Ironically enough, the intention of my post was to clarify value. Potato/potatoe I guess.

 

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[andviv]

Well, I honestly think I would pay for a $50K training if he see the value in it. I am sure I will get a lot of heat because of this, but hey, that is my opinion. I do believe there are thinks out there that are worth $50K. I don't think I'd pay it for a 'how to buy houses in pre-foreclosure', but I'd pay it for some other things. I'm just not at that level yet.

 

[Russ H]

Royemunson
Heck Diane Kennedy has a real estate seminar in Hawaii that is 30K.

They make you feel like you can't be successful until you spend this kind of cash.

Andviv
Well, I honestly think I would pay for a $50K training if I saw the value in it. I don't think I'd pay it for a 'how to buy houses in pre-foreclosure', but I'd pay it for some other things. I'm just not at that level yet.

I agree w/Andviv. I was originally contacted by DKA when Diane Kennedy offered her first seminar like this. Buy in was, I think, $25,000.

This was not a "spend big bucks learning the basics" seminar. The whole idea was that this way, the only people who would come would be those who could afford this. They had made it far enough so that $25K would be not chump change, but doable.

Sharon and I talked about this for almost 2 weeks. We decided not to do it, since we were closing on our first big (over $1M) RE deal, and wanted to really focus on that.

Diane wound up writing a book about the experience:

The Maui Millionaires

Note that the above link is a review. If you want to buy the book, do Diane a favor and buy it via the link from her site, so she makes a coupla bucks for her charities:

[ame="http://www.amazon.com/gp/product/047004537X/ref=s9_asin_image/102-1696429-4572960?n=283155"]Amazon.com: The Maui Millionaires: Discover the Secrets Behind the World's Most Exclusive Wealth Retreat and Become Financially Free: Books: Diane Kennedy,David Finkel[/ame]

Do I regret not going?

Nah. We got a great B&B, and those last few weeks required every ounce of our moxy (lender wouldn't finance b/c they insisted the foundation be replaced, appraiser only allowed $50K for a new foundation, when every single bid I had (there were 3) was over $120K, turned out the seller was terminally ill and couldn't provide training for the transition, all the business records were removed by an over-protective executor, etc).

Besides: I can always read about the Maui Millionaire experience, and, if I choose, take advantage of it in the future.

-Russ H.

 

[camski]

well, if that were completely truth then Roger Federer or Tiger Woods would need a coach? They are clearly the best on what they do and still need coaches. Same with singers and actors. Or maybe these comparisons are stupid.

While it is true that roger federer and tiger woods have coaches, it is important to remember that they have these coaches moreso for perspective than anything else, not because the coaches have more knowledge or ability. If the coaches did they they themselves would have been great players themselves. Tiger woods knows how to play great golf by himself but he also realizes that by only using his perspective he might miss something that can keep him from being his best. So he chooses someone who he feels can communicate his goals with and then that person can observe him and make sure that he is staying on track with his goals and not getting off track. tiger is actually the one running the show and in charge of the direction of his game, the coach is just there to make sure he stays on that path.

 

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[tbsells]

I know some people who spent $45k on RD real estate training. They were very pleased with it. They own nothing but they sure are fired up! I think its tragic. In addition to the seminar costs there were substantial travel costs involved. They could have put 10% down on a $500k deal instead.

I guess you can't protect people from themselves.:nonod:

 

[royemunson]

I agree w/Andviv. I was originally contacted by DKA when Diane Kennedy offered her first seminar like this. Buy in was, I think, $25,000.

This was not a "spend big bucks learning the basics" seminar. The whole idea was that this way, the only people who would come would be those who could afford this. They had made it far enough so that $25K would be not chump change, but doable.

Sharon and I talked about this for almost 2 weeks. We decided not to do it, since we were closing on our first big (over $1M) RE deal, and wanted to really focus on that.

Diane wound up writing a book about the experience:

I agree. since learning more about it it is not your typical guru seminar for learning lease options or other.

I spoke too soon before doing more research. I learned from someone that this is truly a mastermind group that does create millionaires.

Joe