Robert kiyosaki method

lewj24 · May 11, 2018

You need to read MJ's books. Kiyosaki is conning you. He didn't get rich selling real estate. He got rich selling the very books you are listening to! Oh the irony.

He has 26 books and has sold over 27 million copies. That's how he got rich.

The EL Maven · May 11, 2018

Here's his method, step by step:
1. Work for a guru and learn the ropes
2. Invent a fictitious story to teach wealth platitudes to the multitude
3. Publish a book
4. Get on Oprah to sell said book
5. Promote MLM in said book and get MLM's to buy it en masse
6. Go around the country offering seminars, since now you're the guru

That's it. That's all there is to it!

And just so we're clear, this is in jest.

Kak · May 14, 2018

Kiyosaki is like this:

You know the old saying "give a man a fish and he eats for a day, teach a man to fish and he eats for a lifetime?" That's Kiyosaki. He is teaching people to fish and charging for it. Meh. He's ok.

Well there is a third part... Teach a man to SELL fish and he eats steak.

I add a fourth. Lead others to fish and sell fish for you and you get to eat whatever you want, on your own jet.

biophase · May 11, 2018

Tanner Chidester said:
I thought everyone here would love him haha.

Robert Kiyosaki is one of the reasons that this forum was started but not in the way that you think...

Kak · May 11, 2018

Nothing groundbreaking has ever come out of someone following a step-by-step course or guide.

Kiyosaki made some money in real estate and then he decided it was more powerful to be a guru.

Late Bloomer · May 11, 2018

Tanner Chidester said:
Any advice on this would be welcomed.

Hi Tanner, welcome to the forum. I suggest you don't waste any more time on Kiyosaki, and instead focus on MJ's advice and other great resources you can learn about from the forum.

Robert's a hell of a great storyteller, brilliant with emotional hooks. He shakes up people's preconceptions. His quadrant of business types is a nice way to organize some thoughts about business.

Also, from people who've investigated the thin evidence of what he reports about his early life... he's almost certainly a big-time liar and scammer, who did NOT have many of the personal experiences he claims, and who did NOT get rich from practicing what he preaches. His storyline is in large part a fable. There probably was no Rich Dad. It's a fable that he is falsely passing off as a totally true story, when it isn't.

It would have been ethical to have marketed it as "a business novel" rather than a true story. For example, Eli Goldratt did that with "The Goal." The struggling business manager, Alex, was a composite of all the struggles Goldratt had seen in multiple clients. And what a coincidence, the wise advisor who solved all of Alex's problems, was a guru just like Goldratt and with the very same advice! It was sold as both "business" and "fiction" and nobody ever claimed to be the real Alex of the book.

WJK · May 12, 2018

Tanner Chidester said:
I believe he always uses the term "leveraging someone elses money." I don't know if I understood it correctly but sounded like he used other peoples money to invest in real estate and grow his wealth. I was only listening to it on audible and didn't understand it fully so i was hoping someone here might know what he was referring to and explain it better.

I have been in the RE business for 42 years.

He's talking about leverage -- that's taking OPM (other people money) along with your down payment to make your profits on the market value and/or income stream for the whole property -- not just the $ you put down. Yes, it can work and work well in an up market. Yes, you can pay your expenses and your mortgage payment out of your rental income stream -- if you buy right, plan it, manage the property well, and have enough equity to keep your mortgage payments down. (It's called house hacking.) Some good luck along the way helps too. If you know what you're doing, you make some awesome returns.

I rehab, manage and rent low-to-moderate-income mobile homes... and my annual returns on my rehab dollars are ranging from 30% to 100%. I can't do that anywhere else that I know of... The day to day property management demands can be brutal. It's a hands-on business. Sometimes I bellyache about it.

MJ asked me when I introduced myself to this forum -- why I don't sell out. The problem is that I have built a white elephant with pink toe nails. I have exceeded the investor market in my area. I came from a much larger RE market, not realizing how shallow it is here locally. It's not a bad life -- just not what I planned for my retirement years. Even an old-timer like me makes mistakes. So, I might as well get comfortable for ride!
www.wjkbusinessbuzz.com

Fastlane Liam · May 11, 2018

By being a big name author,
He never had 2 Dads, He never was a Marine,
Hes a con artist

DustinH · May 15, 2018

I've read Kiyosaki a lot. RDPD was the book that actually turned me on to starting a business and living differently than everyone else. I've read most of his books. I didn't pay for them. I borrowed them from the library or listened to them on YT.

He made money by being an entrepreneur. He started a wallet business which was crap. He bought real estate as investments (big win). He created the Cashflow Quadrant board game (why a board game??). Then, he wrote Rich Dad, Poor Dad to build his brand and actually sell the board game. The board game never took off, but his book sales did. So, he wrote a bunch of books. Built a team of Rich Dad's Advisors who also wrote books. Started doing seminars and selling those seminars/workshops around the country. He now has underlings who go around the country and do the "Want to get rich in real estate?" workshop circuit for "free admission."

As for my thoughts on Kiyosaki. Did he lie about his backstory and upbringing? Probably... maybe not... who gives a shit? Honestly, who cares what his backstory is? I think he has brought tremendous value on business education through his books. I think he has great principles in his books that are important for someone to distinguish themselves from the Scripted dogma. Such as, the rich don't work for money, don't trade time for money, start businesses/investments for cash flow rather than revenue, and you don't need to go to school to start a business and make money. Also, understanding asset classes and the cashflow quadrant was valuable to me. So, I believe his teaching has an upside.

If I read MJ's books and found out he never drove a limo or worked at a limo company before he started an online limo service, would I care? No. Who gives a shit what the backstory is? MJ's principles are great! So, I find a lot of value in his books because of the content.

His advisors' books were good reads as well. Especially the one on taxes and the one on real estate investing. Watch out, though, after RDPD and Cashflow Quadrant his books were just rehashes of those two books.

So, I would say read Rich Dad, Poor Dad and Cashflow Quadrant. Read his RD Advisors' books if they interest you. Then, just stop there. Don't buy anything else. Don't buy any of his new books because they are the exact same material as his old books. Don't do any courses or seminars because he never goes in depth enough. Go get the books from the library and don't pay for them unless you feel the need to do that.

Raoul Duke · May 27, 2018

biophase · May 15, 2018

Kak said:
Kiyosaki made some money in real estate and then he decided it was more powerful to be a guru.

He actually does say in one of his books, that under his name says Best Selling Author, not Best Selling Real Estate Investor. I don't think he ever tried to hide that part.

biophase · May 11, 2018

Tanner Chidester said:
ok is there any truth to investing the way he prescribes in real estate? I think MJ mentions investing at the very end of unscripted but i'd have to go back.

It’s been a while since I’ve read his books. What is the way he prescribes to invest in real estate? I don’t quite remember his methodology can you explain it here?

Kak · May 11, 2018

Tanner Chidester said:
I believe he always uses the term "leveraging someone elses money." I don't know if I understood it correctly but sounded like he used other peoples money to invest in real estate and grow his wealth. I was only listening to it on audible and didn't understand it fully so i was hoping someone here might know what he was referring to and explain it better.

Yes... The word leverage in business/real estate usually means that the investor got a loan and was able to control a property worth much more than their "investment" (down payment).

Yes very common.

Other peoples money. Like investors?! Yes also very common.

biophase · May 11, 2018

Tanner Chidester said:
I believe he always uses the term "leveraging someone elses money." I don't know if I understood it correctly but sounded like he used other peoples money to invest in real estate and grow his wealth. I was only listening to it on audible and didn't understand it fully so i was hoping someone here might know what he was referring to and explain it better.

Well most people use other people's money, meaning that they get loans from banks. Few rarely pay cash. However to take that a step further, you can use other people's money for your downpayment by getting investors, hard money, family members, or try to put 0% down.

Sauce · May 15, 2018

There are tons of people out there selling their info products. They are extremely predatory especially in the RE arena. Good operators are few and far between and RDPD seminars are among the worst. These courses are tailor made for people in the slow lane following the script.

With that being said, I read RDPD and Cash flow quadrant. When I read them I was reading them as a business novel and for the content. They changed my life and are a large part of why I am doing what I am doing.

@Late Bloomer this sort of thing has been going on forever. Take for example Napoleon Hill, who was also be most accounts a fraud (see https://paleofuture.gizmodo.com/the-untold-story-of-napoleon-hill-the-greatest-self-he-1789385645) This book has also been instrumental in changing my mindset and a large part of how my Grandfather attributed the majority of his success as well (started a large life insurance, mortgage, mortuary, and cemetary biz). So should we be running around hollering about how terrible it was, or should we, as my Grandpa would say, "eat the meat and throw away the bones?"

I have spent a bundle on seminars, courses, and coaching, and one thing I can say is buyer beware on anything that promises a silver bullet to creating a business.

Late Bloomer · May 19, 2018

Galaxy16 said:
How did he manage to author 26 books?

Writing a book doesn't prove that anyone had anything to say. It only proves that they found a way to put their words into book format.

A typical business book is about 200 pages. Take a couple of months to write an outline, then write a page a day, then take a couple of months to edit. There's a book done in a year. Could you write a forum post or two each day that would take a few minutes to read? There's your 400 word page a day. Organize them into 12 chapters with 5 sections each and there's your book.

Repeat every year for a career that run 25 years, and there's your 25 books. But it's easier than that if half the material is almost exactly the same from one book to another, and half the rest of the material is given to you by your co-author while you provide the marketing hype.

Real Deal Denver · May 30, 2018

Late Bloomer said:
But now that MJ's books are available, I can recommend those to challenge Scripting, with stories that are literally true, as far as I can tell, AND that lead on to pragmatic, very well considered business advice.

Yada, yada, yada, you know what I think of their books and advice?

Absolutely love them. But even more than that...

It amazes me to no end to see the earth shaking concepts ordinary people come up with.

I can only imagine how many hours MJ spent killing time when he was a limo driver. Somehow he broke free of that and rose to unbelievable levels of success.

Kiyosaki was a helicopter pilot in the marines, if I remember correctly. He also worked for Xerox. He could of, and probably should have, stayed at that plateau. Love him, or hate him, look at where he is today!

Bob Parsons, whom I googled recently and listened to a speech on the internet (founder of GoDaddy) was one of several replacement troops for a marine unit, to make up some marines that were killed. Their leader was a 19 year old kid that didn't know very much - but he was the highest ranking "surviving" marine, so he was in charge. Bob worried that he would not make it out alive. Imagine being a disposable grunt in miserable conditions, just hoping you live to see tomorrow? Later in life, he had 50 million and founded GoDaddy. Went from a marine thinking he could die at any moment, to a leader of industry.

You know what all these people have in common with me? None of them are particularly tall, and all of them were scrapping by at one time. Yeah, that's about it. Did you expect more?

All of them are rather handsome, rich and respected, admired by millions, have a fondness for stylish sun glasses, and have great personalities. Other than that, there's no difference between any of them and me...

I'm working on closing that gap. So far, I've got the height thing under control, and I'm going to be buying some cool sunglasses this weekend.

So back to that advice thing. Yep, I absorb every word. The power of it is there for the taking, but so few ever do.

jlwilliams · May 12, 2018

No question, buying property with borrowed money then selling or renting the property can make huge money. Many wealthy people got rich doing it. But.... there have also been a great many who went bankrupt doing it.
I lost a bunch of money in real estate in the '09 poop storm. That jaded my perspective in a way that (in retrospect) let me foolishly pass by great opportunities. I didn't go bankrupt, but the suck was harsh.
My advice is to take the enthusiasm that Kiyosaki sparked in you and let that build by digging deeper. Learn more, but don't get stuck on learn mode. Act. Build up a war chest of money doing whatever you can do, then put together a deal. Buy then rent out or sell, rinse and repeat.

WJK · May 13, 2018

Late Bloomer said:
Aw, how cute!

Yes, it's not only cute -- it's also a cash cow. The income is 6X greater than when I started. Now, I've got to figure out an exit strategy to cash in on that income.

Galaxy16 · May 14, 2018

lewj24 said:
He has 26 books and has sold over 27 million copies. That's how he got rich.

How did he manage to author 26 books?
Also Suze Orman seems to be a Binge Author.
Also Robbins?.

Late Bloomer · May 15, 2018

DustinH said:
Did he lie about his backstory and upbringing? Probably... maybe not... who gives a sh*t?

It makes no difference is the purpose is to entertain, and to inspire through entertainment.

It makes a HUGE difference if the purpose to is get people to rearrange their whole lives, spend LOTS of money, take massive action, and induce other people to do the same... based on a promise that the promoter actually had the real experiences and successes that they claim. Which is exactly Kiyosaki's intention.

He could have said he wrote a "business novel" or "business fable" or "inspirational modern day epic metaphor" etc. But what if he was honest that Young Robert was mix of reality and fantasy, if he told the truth that Rich Dad was a fantasy, an imagined and idealized "what if" composite of people Robert didn't actually know and who never were friends and mentors? That would have blown out his MLM business plan.

If people knew that Rich Dad was as fake a character as Harry Potter, they'd not have opened their nylon and velcro wallets, got a raise on their credit cards, bought mega-expensive seminars, joined the MLM, and harangued people at McDonald's as I posted about yesterday, all based on a series of fictional books.

A business novel can be a legitimate sales tool. I mentioned "The Goal" and the follow up novels by Eli Goldratt. He was very successful getting clients who felt as trapped and stuck as Alex, the hero of Goldratt's novels. Alex was just like the kind of clients he wanted to find. He was based on, inspired by, a combination of, some of their true stories. In the novels, the hero found a mentor for hire, Jonah, just like the in-demand consultant Goldratt wanted to be. But Goldratt was ethical. He NEVER claimed that Alex and Jonah were people you might meet on stage, if you hit the 100 person, $10k/month Super Emerald Gold Downline Split Entrepreneurship Bonus Level.

Why would you be willing to base your career, fortune, life and work, on a fiction story that was told by a liar who claims: IT'S ALL TRUE SO YOU CAN DO THE SAME? To me, that's not just a little oversight. It's a totally fatal flaw. It's not just a little scratch on the paint of the battleship. It's an iceberg with a torpedo inside, that blows up the Titanic and leaves its wreckage on the bottom of the ocean.

If MJ never had a mattress on the floor while coding limos.com, it would make EVERY difference in the world to me, about whether a lead gen site can be a good business model, and whether the struggle might be worth it. And that's for a guy who has nothing to sell but another book, a forum upgrade, and a very moderately priced meetup. How much more should there be REAL VALID PROOF from someone who wants you to be rich by going to his $10k seminar and signing up your hundred closest relatives and buddies?

Compare my experience and others with the evangelists of Robert's Fraud.
Just overheard an entire Kiyoski based MLM pitch. Wow, that was painful.

Real Deal Denver · May 16, 2018

DustinH said:
I think he has great principles in his books that are important for someone to distinguish themselves from the Scripted dogma. Such as, the rich don't work for money, don't trade time for money, start businesses/investments for cash flow rather than revenue, and you don't need to go to school to start a business and make money. Also, understanding asset classes and the cashflow quadrant was valuable to me. So, I believe his teaching has an upside.

I cut my teeth on RDPD. I buy used copies every time I see them to give them away. This book should be required reading for everyone. This ONE book alone surpassed all the financial literacy I learned in grades 1-12 - but I can name the capitals of every state in the union! Now's THAT'S impressive.

Late Bloomer said:
If people knew that Rich Dad was as fake a character as Harry Potter,

I need a source for this. His rich dad is well documented in his books. He lived in Hawaii and was the superintendent of schools. There are not many people that fit that description. I see no benefit to lie about a character that is so well defined, and I don't believe he lied. Identify your source please.

Sauce said:
I read RDPD and Cash flow quadrant. When I read them I was reading them as a business novel and for the content. They changed my life and are a large part of why I am doing what I am doing.

Yes. This was opened my eyes and changed the way I was thinking. Although there is more advanced information available, we all have to start somewhere.

Sauce said:
I have spent a bundle on seminars, courses, and coaching, and one thing I can say is buyer beware on anything that promises a silver bullet to creating a business.

I have also spent a bundle. The last course I took cost $4,000 and came with a money back guarantee. I was heavily leaning towards getting a refund because that was a lot of money for me to outlay.

After I finished the course, I realized this was the best course that I had ever taken - and perhaps the best for most other people, as well. I did not ask for a refund, and I still refer to and use the course material on a weekly basis, even though it has been two years since I took it.

I have taken other courses that cost even more than that, as well. I've never had an issue thinking I did not get my money's worth when I was done.

As the saying goes, "if you think education is expensive, try ignorance."

Late Bloomer · May 16, 2018

Real Deal Denver said:
I cut my teeth on RDPD.

I agree that Kiyosaki did an awesome job pointing out that most people live a life of financial terms dictated by someone else, and often not for the benefit of the one living by the script. I don't have any problem with his pointing that out. It needs to be said anew in every generation, and he did a great job saying it for his generation.

I also think his Quadrants framework is pretty useful.

He is a very entertaining storyteller with a unique, personal, appealing, humorously self-deprecating Everyman tone of voice. He's inspired many people to question the scripts they were raised by, and to hope and reach for better. He deserves plenty of credit and acclaim for all of that!

I need a source for this. His rich dad is well documented in his books. He lived in Hawaii and was the superintendent of schools. There are not many people that fit that description. I see no benefit to lie about a character that is so well defined, and I don't believe he lied. Identify your source please.

Robert's own father, who Robert derides as his "POOR dad" in his books for the Dad's financial conservatism, was the superintendent. I completely believe that biographical part of Robert's books is accurate.

My concern is with the "rich dad," super-investor and rich father of Robert's rich best buddy since childhood.

I didn't collect the bookmarks, but if you do web searches for articles from people who've tried to identify who could be the rich dad, and was such a person really involved in Robert's life since childhood, you'll probably find the same multitude of articles I did.

I looked this up many years ago, but I think I found over a dozen independent people offering real estate advice or investment based on their own successes, or reviewing personal finance books from a perspective of critical thinking, who looked into this. And every single one said they can't find any consistent evidence of who Rich Dad might have been, or how he might actually have been known by Robert.

These authors, journalists, and reviewers found other discrepancies about Robert's autobiographical stories of his education, military, work, business and investment experiences. Not just occasional goofs about a particular date or minor detail, but published statements in the books and recorded mentions in the seminars that seem to flat out contradict available third party evidence.

They also pointed out that the Rich Dad series didn't start until AFTER Robert was already a "contrary skeptic to society's rules," guiding people into Large Group Awareness Seminars and MLM. With no mention at all of "Rich Dad" or any of his lessons for more than five years after Robert published his first book. Some of this information is summarized [with citations] in the Wikipedia article on Robert.

If people are astute enough to separate inspir-tainment(TM) from worthwhile financial action plans, I'd recommend Rich Dad on that basis. Unfortunately most people say, if the story's appealing then the moral and message must also be true. And a lot of the Rich Dad advice on business and investing seems questionable to me, very overpriced at best.

lowtek · May 16, 2018

Tanner Chidester said:
Ok appreciate it. I had no clue. I thought everyone here would love him haha. As far as investing goes do you have any recommendations on where i could learn to try to have my money work for me as much as possible? Just trying to avoid learning through experience ha.

invest in whatever made you the money in the first place

Real Deal Denver · May 19, 2018

Late Bloomer said:
Writing a book doesn't prove that anyone had anything to say. It only proves that they found a way to put their words into book format.

A typical business book is about 200 pages. Take a couple of months to write an outline, then write a page a day, then take a couple of months to edit. There's a book done in a year. Could you write a forum post or two each day that would take a few minutes to read? There's your 400 word page a day. Organize them into 12 chapters with 5 sections each and there's your book.

Repeat every year for a career that run 25 years, and there's your 25 books. But it's easier than that if half the material is almost exactly the same from one book to another, and half the rest of the material is given to you by your co-author while you provide the marketing hype.

^^^Flipping genius! Found my road map!

Real Deal Denver · May 28, 2018

jasoncuellar123 said:
Kiyosaki’s methods are elementary at best.

They’re coffee table books.

Ok then. I guess that makes me elementary.

Coffee table books are picture books - cars, islands, dogs, horses, waterfalls, etc.

I cut my teeth on this book. It was so enlightening. Like that day I learned my multiplication tables by memory - I knew that was going to be a skill I'd use for the rest of my life. Some skills and some knowledge are "foundations" that are built upon.

When you write a book that sells millions, spans an industry, and is known around the world - then ok - you can insult the simpler books. But I don't think even MJ would think of insulting this book. Even though I know immensely more today than I did then - there would be NO way I could have climbed the staircase to where I am now - which I did one step at at time - without starting out at the beginning, which this book provided.

You want to know an even simpler book that has much greater lessons? The Bible. I point that out to merely show that simple is not inferior. Not by a long shot.

Don't discredit things because you learned them a long time ago - or because you know so much more today. I still buy that book and give it away - and I still read it from time to time too.

Jordan Yager · May 30, 2018

One author I would highly recommend as well is Brandon Turner who goes into great detail on the different ways to invest in real estate and landlording and how to turn it into a business. Also Think that although rdpd is super inspirational and in fact is the very book that led me into finding MJs books and adopting the entrepreneur mindset, he didnt get rich off of anything but you and me buying his books and taking his seminars. Is my thought. And agreed the one with Ken McElroy was by far the most informative.

Tanner Chidester · May 11, 2018

Ok so i've been listening to a lot of audio books by robert kiyosaki.

I'm not sure I understand how he is acquiring his wealth. I get it's real estate but is he simply borrowing other peoples money and using it to make a profit?

It seems like he's doing the right things but I'm not clear. If someone could explain to me how he is prescribing to invest and if it's a good method.

My dad starts to get heated soon as I bring it up but he isn't an entrepreneur so I take everything with a grain of a salt. Any advice on this would be welcomed. I'm looking to go back and read the books in more depth and get off audio.

Late Bloomer · May 11, 2018

Tanner Chidester said:
Ok appreciate it. I had no clue. I thought everyone here would love him haha. As far as investing goes do you have any recommendations on where i could learn to try to have my money work for me as much as possible? Just trying to avoid learning through experience ha.

There's a real estate section on the forum here. If there's a particular technique that you're curious about, do a quick search to see if someone's already talking about it. If not, make a new post in the real estate section, eg "Flipping second mortgages Robert Kiyosaki style, is this a valid thing?" or whatever you have in mind.

Also... Either I'm way overdressed for the forum, or "business casual, come as you are" got a lot more informal since my last job :rofl:

Vermilion · May 12, 2018

@Tanner Chidester Go and follow the work of Ray Dalio. Much more interesting guy then Robert in my opinion(even tho Rich Dad Poor Dad have valuable info too).

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