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HOT TOPIC Robert kiyosaki method

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Sauce

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Jan 16, 2013
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Oh, now I get what you mean with your explanation. It didn't occur to me that someone would compare Rich Dad to the Bible as they both are just a few simple little stories, that are easy to remember since one's youth. That's not how I think of the Bible, for reasons that would be way off topic for this forum.

The thing with Rich Dad is, the stories are emotionally powerful but we don't know how many of Robert's stories are nonfiction about anyone... and of those, how many actually happened with him.

And we know that he pushes hard for people to get into MLM and to follow some other questionable advice.

If it's for inspiration about breaking the siren call of society's Scripting, I would have recommended Kiyosaki for that... along with a warning about taking it too literally, or having blind faith in his specific suggestions.

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.
@Late Bloomer I keep asking myself, why should I listen to you? Are you further along than I am? Do you have a background in REI?

Here is what I know and I will repeat. Rdpd changed my life forever. I have done over 100 flips, own 30 rental units, this year I will do over 50 deals. I don't care if it's fiction, only care that it helped me move in the right direction.

Then I read @jscotts book and it changed my business again. Then mjs book, the fast lane Meetup where I met my current coach and mentor. It's iterative and builds on itself. Don't knock the book, use it and grow.
 

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Late Bloomer

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I don't care if it's fiction, only care that it helped me move in the right direction.
Congratulations on your real estate success.

If the only thing that matters about what you read is how you feel when you read it... if whether the stories provided are true or not is irrelevant... than my own personal history is also pointless to ask about, and irrelevant to know. All that would matter, according to that rule you set for yourself, is how you feel about the text I provide! If it makes you happy and inspires good action, read more. If not, stop reading any time!
 

Sauce

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Congratulations on your real estate success.

If the only thing that matters about what you read is how you feel when you read it... if whether the stories provided are true or not is irrelevant... than my own personal history is also pointless to ask about, and irrelevant to know. All that would matter, according to that rule you set for yourself, is how you feel about the text I provide! If it makes you happy and inspires good action, read more. If not, stop reading any time!
@Late Bloomer I don't care how it makes me feel, only the results it gives me.

I reread my post and it sounds like I may be coming off brash or harsh, that wasn't my intent. But one thing I have learned from RK in Cash Flow Quadrant (I am rereading this now) is to listen to those who have been where you want to go. Heck, maybe you are that guy, but I don't know what your background is (other than your intro thread). However, I wanted you to know who I am and why I feel like I can speak on this subject based on my personal experience. Yours may vary. Good luck with your endeavors, here's to your success!
 
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WJK

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You assume a business will always be profitable. You assume that real estate will always appreciate. You assume investing the businesses profits in real estate will pay greater dividends than investing in yourself. You make a lot of assumptions.

You have not mentioned the word "need" one single time. You haven't mentioned the word "scale" one single time. You haven't mentioned the words "intentional iteration" one single time, even though that is what you are doing. Instead, you want to nitpick on the meaning of words. I simply don't give a f*ck.
No, I don't make those assumptions. I have a different point of view from you, honed through a lifetime of education and hands-on experience. You just said that you aren't interested, so there's nothing else to say. Good luck.
 

Real Deal Denver

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No, I don't make those assumptions. I have a different point of view from you, honed through a lifetime of education and hands-on experience. You just said that you aren't interested, so there's nothing else to say. Good luck.
If there was ever a back and forth discussion between an educated professor type with no real world experience, and someone who has walked the walk and can talk the talk - this is definitely IT.

Rather than dissect words and dwell on theories, I have found that following the ones that have achieved meaningful results is always, without doubt, the best course to take.

And I do have to further compliment you WJK your mastery of the subtle art of effective and powerful rebuttal. It is the highest skill in debate.

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WJK

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If there was ever a back and forth discussion between an educated professor type with no real world experience, and someone who has walked the walk and can talk the talk - this is definitely IT.

Rather than dissect words and dwell on theories, I have found that following the ones that have achieved meaningful results is always, without doubt, the best course to take.

And I do have to further compliment you WJK your mastery of the subtle art of effective and powerful rebuttal. It is the highest skill in debate.

View attachment 19670
Thanks Real Deal Denver for your kind words. Regards.
 

jiajia

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Jun 2, 2018
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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.
Teach a man to fish, so you can buy his fish with the money he pays you to learn how to fish
 

Late Bloomer

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I reread my post and it sounds like I may be coming off brash or harsh, that wasn't my intent. .... However, I wanted you to know who I am and why I feel like I can speak on this subject based on my personal experience. Yours may vary. Good luck with your endeavors, here's to your success!
Thanks for your kind words! I didn't say anything about real estate investing in my intro, because it's not part of my personal experience so far. I've had a lifelong fascination with architecture and design, and a long term interest in real estate. If I could go back to high school and start over, I'd likely get an architecture degree and try to move over to the financial side after about ten years of design. In the life I've actually had, I worked for a few years in the software department at a bank. To troubleshoot the mortgage software, I had to learn in detail what underwriting rules would make a loan sellable on the secondary market. So I could see real estate investment as part of my future. But I think I'd be in a stronger position if I could bring some substantial money of my own, as well as my ideas, into the mix.

But this is all getting pretty far from my appreciation of RK as a storyteller. And my dismay at his saying fiction is actually nonfiction, and pushing MLM.
 

WJK

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Thanks for your kind words! I didn't say anything about real estate investing in my intro, because it's not part of my personal experience so far. I've had a lifelong fascination with architecture and design, and a long term interest in real estate. If I could go back to high school and start over, I'd likely get an architecture degree and try to move over to the financial side after about ten years of design. In the life I've actually had, I worked for a few years in the software department at a bank. To troubleshoot the mortgage software, I had to learn in detail what underwriting rules would make a loan sellable on the secondary market. So I could see real estate investment as part of my future. But I think I'd be in a stronger position if I could bring some substantial money of my own, as well as my ideas, into the mix.

But this is all getting pretty far from my appreciation of RK as a storyteller. And my dismay at his saying fiction is actually nonfiction, and pushing MLM.
I was at a Landlord's meeting this last week. The activity was to play the board game called Cash FLow. My friend, the group's leader, said that the book, Rich Dad, Poor Dad was written to support the board game. I didn't know that. But, the game is a teaching tool for the real estate business.

I read his book and now I have played his game. All I have to do is get one good idea from a book to make it worth my while.

I like your plan. You can do it. The information you need is readily available to you. Learn from other's mistakes. Save yourself a lot of money and heartaches.

I started in the real estate business in 1976. I was just a determined kid, starting with nothing, in a good 'ol boy's world. Now, I'm a professional real estate investor. So, I know from experience that it can be done. It a race that must be run thoughtfully, and with a deliberate step by step plan.
 

WJK

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some times those things have a limit, and it time to move on to something bigger if you want to risk growing your wealth. it can be a difficult choice"
It can also be risky to both your peace of mind and your invested dollars. Money is hard to make and easy to lose...
 

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Elif

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Jun 25, 2018
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By being a big name author,
He never had 2 Dads, He never was a Marine,
Hes a con artist
 

WildFlower

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wh

ich is a better board game: Cash Flow or Monopoly?
Cash Flow. I like the game. He sold a lot so that helped his wealth. We played it a lot in early 2000s but then it was like real life so we stopped. I introduced the game to my Gen-Zer and he loves it. :) There are meetup.com groups that get together weekly to play. Sometimes it's disguised as agents or MLM people leading the game night. Robert's advice is good.. just he's empty. He doesn't care about people. I met him.. cold fish!
 

WildFlower

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He didn't write most of his books. Sharon Lechter co-authored nearly all of the RDPD early books. And if you believe the story that a lot of people tell, she did almost all of the writing. Kiyosaki was the face of the brand.

Sharon Lechter - Wikipedia
Do you know if Sharon and her son Phil still work for RDPD? Or did they move on?

Also Robert had a lot of experts write books under his brand. Robert even talked about how the coloring on his books are trade-marketed. He was into selling books. I guess we can't knock that really. Just can't go much further into his personal investments. Many of the gurus are like that/
 

The Abundant Man

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Cash Flow. I like the game. He sold a lot so that helped his wealth. We played it a lot in early 2000s but then it was like real life so we stopped. I introduced the game to my Gen-Zer and he loves it. :) There are meetup.com groups that get together weekly to play. Sometimes it's disguised as agents or MLM people leading the game night. Robert's advice is good.. just he's empty. He doesn't care about people. I met him.. cold fish!
That's awesome! Sad to hear that Robert is a zombie. There are MLM's at your meetup groups?

Cash Flow or Cards Against Humanity?
 

WildFlower

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That's awesome! Sad to hear that Robert is a zombie. There are MLM's at your meetup groups?

Cash Flow or Cards Against Humanity?
I haven't gone but I see them all the time in Meetup.com. I'm in Los Angeles and have thought it would be fun to take my teen son. I have played the against humanity but it seems .. well... against humanity. I have a hard time with it. ;) So many like it. I
 

JScott

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Do you know if Sharon and her son Phil still work for RDPD? Or did they move on?
Last I heard, they had a falling out and parted ways.

I was able to find this article:

This Legal Dispute Says Everything About the Shadiness of Personal Finance Gurus

That contained this quote:

"In the meantime, Lechter and Kiyosaki also fell out. She also took to the courts, claiming that Kiyosaki “executed a plan to willfully destroy the joint venture, while simultaneously and purposely diverting opportunities belonging to the joint venture to one or more entities owned exclusively by them." That roughly translates to “moved money around so he didn’t have to pay me my fair share.” The suit ultimately ended with an out-of-court settlement and Lechter receiving a negotiated $10 million payday."
 

Nik@16

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Aug 22, 2018
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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
Great Answer.
 

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JimK

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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."
Find Herbie! it helped increase production by 30% in 2 weeks at my previous job.
 

Adamjw02

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Jan 15, 2020
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I think Rob Kiyosaki is a quack. I think everyone should read Rich Dad Poor Dad because it has some good pointers and is a good book to start your financial education, it just can’t be your only financial education. His other books, two of which I’ve read, are shitty and have no real, or good, advice.
 

WJK

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I think Rob Kiyosaki is a quack. I think everyone should read Rich Dad Poor Dad because it has some good pointers and is a good book to start your financial education, it just can’t be your only financial education. His other books, two of which I’ve read, are shitty and have no real, or good, advice.
If there was one nugget of valve for you, then he was a blessing to you... it was worth your time to at least get your attention... You're right about the fact Robert's books are only one point of view and a small corner of a very large picture. Add what you learned to your mental library. I guess I'm asking you to have a grateful heart and move on something else that interests you more -- without feeling the need to talk smack about other people.
 

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