• Report: #298177

Complaint Review: Rich Dad Education

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  • Submitted: Tue, January 08, 2008
  • Updated: Sun, April 08, 2012

  • Reported By:Scottsdale Arizona
Rich Dad Education
1612 E. Cape Coral Parkway Cape Coral, Florida U.S.A.

Rich Dad Education Cash Flow Technologies Robert Kiyosaki Scam, Learn to be Rich (Rich Dad) 3-day class is a scam and ripoff Cape Coral Florida

*REBUTTAL Individual responds: Rich Dad Workshiop for RE Investors San Diego

*General Comment: Rich Dad Poor Dad

*Consumer Comment: No Doubt Financial Freedom Costs More Than a $500 Investment

*Consumer Comment: Getting Your Money Back

*Consumer Comment: RICH DAD EDUCATION BEING SUED BY FORMER PARTNER & CORPORATE ATTORNEY SHARON LECTOR!!!

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If you are patient and can read my long complaint, it will be worth your time. First, like many of you are planning on doing or did, I signed up for a 2-hour orientation seminar. This short meeting was to describe the many opportunities in Real Estate and how using Robert Kiyosaki's methods and system can help you make money in RE. By the way, mine was in Scottsdale, Arizona.

The speaker seemed to have good experience, and got us, including me, very excited about getting more involved in the RE market.

Mainly, though, he focused on getting us to sign up for a 3-day seminar and offered "special" one-time only pricing of $495 for this class. His description of the 3-day class was that it is intensive training and would cover all areas the Real Estate market, including some of the tax laws.

Well, that sounds like it's worth $495, doesn't it? So, I signed up for a class in Scottsdale AZ for Jan. 4-6. Let me tell you, it's NOT worth it either from a time or cost perspective. It is a rip-off.

The speaker was introduced as the BEST teacher that Rich Dad Education has. He was far from it, and more likely one of the worst trainers I have ever listened to. We were told he was a very successful investor. I don't believe he is, and I will explain that in a second.

Anyway, the first several hours were spent with just talking about the RE market and how great it is. This was to get people excited about it, but why was I there unless I already knew this?! So, that wasted a half-day. Next, the speaker wanted to show people how great his investments were. Hah! Let me tell you, his claim to fame was a picture that he kept showing on the screen of himself standing in front of a Las Vegas 4-plex in the mid 1980's that he bought. Wow! So, I was thinking to myself, "if this guy is so successful, then why can't he show us recent wins in the market, and if he's so rich, why is he teaching this class?"

By the way, numerous people tried to ask questions, but he would push them off and say it had to wait, and when they did ask a question, he had a weak answer. he also complained that people were interrupting him. And, he kept saying if you want to know the "why", then it's because he said so. Now, does that sound like someone who's interested in helping you learn something new or get better at it?

On the afternoon of Day 1, the instructor asked everyone in the audience (about 130 people) to go home that night, call American Express and apply for a Amex Blue card. This was so you get some available credit for real estate investments. He also said everyone should call their credit card companies and raise their credit limits!! After a little prodding, he finally admitted that this was not only to create "good" available debt, but also to have money to pay for their "Advanced" classes, which you would need to get any real knowledge!

Day 2 started out with spending about an hour or more, on having people line up tell how they got more credit. This was really pissing me off, as I signed up for a real estate investment and strategy class, not a CREDIT BASICS class! Now, let me say, I understand the difference between good and bad debt, and using other people's money (such as credit card companies) to your advantage. But, what I don't like is that that many of these people are getting credit after listening to the instructor and will end up using this for bad debt as usual and end up in further financial trouble.

In the afternoon of Day 2, the instructor played a DVD of Russell Whitney (who I now know is a partner of Robert Kiyosaki's), about Land acquisitions. Again, this only spoke about how great land development opportunities are, not about the strategies to go after this market. Also, Mr. Whitney and the instructor talked about how you can get involved in this "exciting" opportunity to invest in a resort in Costa Rica. I hear that this is a property that Robert Kiyosaki and others, including Mr. Whitney have purchased and are trying to get investors for. And, you only have to fly down to Costa Rica for 5 days to get the hard sell! Wow.

Around 3 or so on Day 2, the instructor decided to spend the remainder of the time talking in detail about the locations and costs for the "Advanced" classes, that you will need if you are "serious" about making money. OK, let me tell you, just to jump start with that is $9,000 (and travel costs perhaps), or up to $44,000 for many classes. And, they don't give you any real details about the class. Well, after listening to costs in gory detail, me and my family left. We just couldn't take the hard sell that was going on. Remember, we signed up for a Real Estate Investment Class, at least that's what we were promised. We weren't the only people angry, there were lots of others showing frustration from not receiving any valuable information.

Needless to say, we didn't return for another pummeling on Day 3. Just suffice it to say, I'm attempting to get my money back from Rich Dad or Cash Flow Technologies, or WIA, or whatever. Save yourself some time and major frustration. Don't sign up for this 3-day class. A better investment of your time is to read Kiyosai's books, or other well-known RE authors, or read the wealth of information available on the Net. Or, better yet, spend that $495 on a good real estate or stock investment. If you're like me, you're not afraid to spend money as long as you get what you're promised. Take care.

Scott
Scottsdale, Arizona
U.S.A.

This report was posted on Ripoff Report on 01/08/2008 03:23 PM and is a permanent record located here: http://www.ripoffreport.com/r/Rich-Dad-Education/Cape-Coral-Florida/Rich-Dad-Education-Cash-Flow-Technologies-Robert-Kiyosaki-Scam-Learn-to-be-Rich-Rich-Dad-298177. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 4Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Individual responds

Rich Dad Workshiop for RE Investors San Diego

AUTHOR: Irene - (United States of America)

I paid $200 for 3 days Rich Dad Workshop for RE Investors on March 2-4,2012.
There are 2 hours some info regarding RE. I am a RE investor with 15 years experience- I have more than 57 doors. On Day 2, the instructor decided to spend the remainder of the time  talking in detail about the locations and costs for the "Advanced"  classes, that you will need if you are "serious" about making money.
- start with that is $18,000! up to $74,000 for many classes. And, they don't give you any real details about the class. Well, after listening to costs  in gory detail-I was very disappoint. Please be smart- people are not idiots. It has been ruined a reputation of Rich DAD COMPANY. It's a  Shame! On next day- the instructor start over about the cost for the "Advanced" classes and spend more time to sell a classes. I couldn't take the hard  sell that was going on. I was so sorry for loosting my time and not receiving any valuable information.
I respect "Rich Dad Education.
Please do not ruin your reputation!
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#2 General Comment

Rich Dad Poor Dad

AUTHOR: Giovanni - (U.S.A.)

I too recently went to a 3 day Rich Dad Poor Dad seminar that cost me $200. Ok so paying the $200 wasn't that big of a deal. I believe that the instructor was a successful investor because I did get some good information about real estate that I didn't know but overall I'd have to say it was a sales pitch. The staff weren't very patient with us neither. For example on day 1 we played the cash flow game, everybody at my table never played the game and when we asked a staff member a question they were very slow to help and they looked/talked  to us like we were stupid. On day 2 the instructor said that this is the most important part of the of the 3 day course, and do you know what it was? It was the sales pitch for the advanced training that you need to take to make serious money. The classes ranged from $20,000-$100,000. And each class is only 3 days and you have access to a mentor for 3 days and that's it. Many people showed a lot of frustration because we too were told that it was an intensive three day training to learn on how to invest. They never told us that they were trying to sell us more classes for an ungodly amount of money.

Needless to say I wasn't suckered into paying that amount of money. So I left. About a week later I went to the local real estate investors club and networked with great successful investors that are willing to help. One of them was a Rich Dad Poor Dad success story and became a mentor for Rich Dad education and quit working for them. He straight up told me that most of the instructors that teach the basic three day seminar aren't investors. They're trained salesman. He said that most of them don't even own they're own house. When he came out to the different states as a 3 day mentor for those who were dumb enough to pay for those ungodly expensive classes, that the students told him that the instructor from the 3 day seminar made all kinds of false promises. Saying stuff like "If you pay for any class that has a mentor, you're mentor will come out and help you with some deals and you will make your money back in those three days." He had to tell them that it wasn't true. Those instructors are salesman. Not investors.

Anywhoo when I went to the local meeting to my surprise IT WASN'T A SALES PITCH!!!! The speaker actually spoke about what's really going on in the local market. And it only cost me $15 to go to the meeting. Then I forked over another $20 to buy this awesome book that gave me all the information and more than the 3 day seminar from Rich Dad education. And it cost me a total of $35. Not $200, or $100,000. So I spent the rest of the time actually networking with real investors and I picked their brains. I'm meeting with 2 of them this week to sit down and figure out a mentorship plan. So in a nutshell, Rich Dad education seminars RIPOFF!!! Don't waste your money. There is a huge amount of money to be made in Real Estate and there are good programs out there. Just do your research. Right now the Real Estate Investors Association (REIA) is the largest Real Estate investors club in the nation that provides good quality information and is an outstanding place to network with successful investors that are willing to help you get started. reiclub.com is another great tool but most importantly google your local investors club, go to the meetings and network with investors and find some mentors that will help you get started. Have a great day.
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#3 Consumer Comment

No Doubt Financial Freedom Costs More Than a $500 Investment

AUTHOR: Jk, Pa - (U.S.A.)

Yes, I too went to the three-day seminar. Yet, knowing much about real estate investing and an expectation both, to further my knowledge, and know that education is expensive, I am completely satisfied that I had engaged in WIA advanced training.

Myself an M. Ed graduate, my son an MBA, my daughter a current Juris Doctorate enrollee, I believe that my financial education is best served by this avenue of education. My wife and I had been real estate investors (multi-family and off-campus student housing) for more than twenty years, yet our financial approach to continued success was always hampered with the "how can we get to the next level of investment" concern.

Having been involved with the WIA for about one year, we have networked our experience and the education provided to reach beyond our initial expectations.

All highly educated members of my family through the "formal post-secondary and beyond" education system whole-heartedly believe that the WIA has provided that promised financial education that was proposed during the three-day introduction. My wife and I now know what financial freedom truely is, thanks to our foresight, and the "Zuckman" introduction.

It is unfortunate that so many think that $500 will solve their financial woes, yet finance their son's and daughter's "formal" education, at hundreds-of-thousands of dollars, to do little more than teach them to be employees.

I now know why the vast majority of Americans live the daily grind and complain, while the few "financially educated" reap the rewards of the American dream. It is sad that $500 means too much to so many when it comes to educating for personal wealth.
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#4 Consumer Comment

Getting Your Money Back

AUTHOR: Byron - (U.S.A.)

A few years ago I worked for a seminar company before I knew how scuzzy they were. You will probably have a hard time getting your money back from them directly, but companies like this are very responsive to the BBB and attorney general. Go through their Byzantine return process. Make calls, send the return form back, etc. If you can cancel the purchase from the bank side, do that. But don't give up if they seem to be avoiding you, or even if some bogus deadline has passed (e.g. "you have three days to return this, but we won't return your call until four days have passed.")

Companies like this spend alot of money trying to keep their image positive--they'll hire blackhat SEO firms to suppress negative web links, they'll monitor sites like Ripoffreport, and usually try to keep up with BBB complaints. Even threatening to complain to BBB/ripoffreport/attorney general will usually get you your money back. If not, make good on your threat and you should hear back from them soon.

Many of these companies have had trouble with the attorney general offices of various states. Our company couldn't hold events in Ohio, and I think California just laid down some heavy penalties on a few of our vendors. The point is, speak out and you will probably get a good response from the AG. Nobody likes these guys.
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#5 Consumer Comment

RICH DAD EDUCATION BEING SUED BY FORMER PARTNER & CORPORATE ATTORNEY SHARON LECTOR!!!

AUTHOR: Sarah Polanco - (U.S.A.)

In 2007, former business partner/collaborator and attorney Sharon Lector filed to sue Rich Dad Education, Robert and Kim Kiyosaki in Las Vegas District court. The case is ongoing. At least 2 courtdates are scheduled for this January 2008. To view the "case activity" log onto: www.accessclarkcounty.com then double-click PUBLIC RECORDS then "District Court" and enter case # 07-A-549886-C
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