So many real estate investors say Robert Kiyosaki was such a great influence.
Think again:
He’s the worst. Perpetually calls crashes and is wrong. Has some good thoughts, but the mechanism "Creature from Jekyll Island"called the Federal Reserve is beyond what he can comprehend. IMO
It’s fascinating to see how some of your heroes evolve over time. I’ve seen him make some absolutely unhinged statements over the past decade. At first, I didn’t want to believe it—it was easier to give him the benefit of the doubt. But after seeing enough, I’ve come to accept that he’s not someone I should look up to.
It’s a bit conflicting conflicting because Rich Dad Poor Dad played a significant role in shifting my mindset 25 years ago. The same can be said for a lot of people I know. That impact is undeniable. But past influence doesn’t make someone immune to accountability. Words have consequences, and no one can expect to maintain a good reputation while consistently making reckless, contradictory statements, not to mention the business model that takes advantages of tons of people.
There are still some solid fundamentals in his original books, or I guess, Sharon Lechter’s earlier books, but this just isn’t a guy I’d want to model my life after.
Three years ago, I almost hired Phil Pustejovsky (Freedom Mentor on youtube). I backed out when I learned the mentoring membership was $25,000. It gives the member access to their team via phone, email, and online webinars.
I would still have to find my own houses to flip.
When I sold a house, I could keep 50% of the end profit. Phil would keep the other 50% profit.
The 50/50 split would continue until the total profit over the months/years reached $500,000, then our contract would end. I would have earned $250,000 profit and the other $250,000 profit would have gone to Phil.
Over the phone, the salesman said that the fee amount of $25,000 was NOTHING and that I would probably get that back on my first deal.
@ArizonaNative Oh really?? I had no idea Phil’s business worked that way.
As for the Robert Kiyosaki stuff, that’s disappointing. I’d have to echo what @mattpayne said. I’ve also heard him say some crazy stuff in recent years and didn’t understand what happened. It was like his personality just took a 180 from what I knew of him in the early 2000s.
I was surprised to learn that Sharon Lechter wrote most of that book, but I’m grateful she did it because she clearly outlined some solid concepts that changed how many people think, myself included.
I guess this is where wisdom and discernment come into play. We all need to identify and separate the good from the bad in whatever a person or entity is teaching.
Most people will have a mixture of both, and unless you want to throw the baby out with the bathwater, we all need to think critically to decide what we’ll listen to and ignore.
Seth - I agree with you completely. We need to be smart about what ideas and concepts we choose to add to our business plan.
Thank you for this open forum on R.E. Tipster. It allows us to continue to learn and grow.
I also watch all your videos on youtube and am a subscriber. You have a lot of great interviews and everything is always presented professionally.