A Few Houskeeping Issues:
please email ripoffreport and have them put Kiyosaki, and Rich Dad Education as a seperate category. Also, if you post here, the Topic should be chosen as "Education & Instruction" with the Topic being "Seminar Programs"
Well, I am green when it comes to knowledge about real estate investing, but a friend of mine & others (even ones in real estate) always talked about the Rich Dad Poor Dad Book alleged to have been written by Robert Kiyosaki. Upon that recommendation, I heard about a free 2 hour seminar advertised in my email account, and decided to act on it. As a newbie to real estate investing, I learned quite a bit, and it seemed that the 3 day Workshop for 495 would teach me something which I could apply instantly.
Since the Rich Dad Education Book, Guide To Real Estate Investing and Choose To Be Rich DVD/CD book package were given to those who signed up for the 3 day, I figured that this was fair. The problem, is that when I reviewed the material in the handbook, only tidbits of information were given with no serious step by step procedure. The CD's/DVD's and other books were just motivational speaking fluff with no real substance.
Unfortunately, I reviewed this material after the 72 hr window for a refund closed. Overall, The 3 Day Workshop was informative to a degree for a newbie such as me; but there were other issues which give me a really bad taste in my mouth regarding Robert Kiyosaki, Rich Dad Academy / Rich Dad Education / Wealth Intelligence Academy, et al . ..
The first red flag went up when the speaker, alleged to be Bonita Fieser (also an self proclaimed Christian); gave instructions on how to raise one's credit limit to upwards of 25K. It was presented, at first; as a way to boost one's credit score so that they would have a high enough rating to get loans in order to do quick foreclosures. She presented a script to follow, along with any rebuttals to any objections by a credit agent; in order to raise one's limit to a suggested 25K. Bonita Fieser had said that she goes to one of the several companies she has cards with and mentions that she wants her limit raised because she wants to do business with just them. Fair enough so far, right ?? Well, then she proceeded to say that she'll apply the same tactic with all of the other companies as well. First of all, that is underhanded, but for someone who claims to be Christian, that is flat out dishonest.
Anyway, there was an "assignment" for everyone to use the script over lunch break and up their credit limit. She had asked for a show of hands and had people come up and give a testimonial. However, I now recall that at the onset of the meeting that morning; Bonita Fieser had immediately ascertained by questioning and a show of hands who had bad credit, good credit, and certain levels in between by a show of hands. In fact, she had done numerous surveys that way to get clearer numbers. I believe that survey coupled with the forementioned "assignment" was all tied into the bigger upsell of their 12K-44K "advanced training" courses on Day 3.
On Day 2, nearly 2 hours of the class time was devoted to going through a catalogue and its description & pricing of the "advanced training" for "Rich Dad Education". The prices had to be handwritten by the students in the blanks provided on a seperate sheet handed out, as no prices were affixed in the catalogue. The whole time I was thinking "Why can't they put this on the website" ? "Why can't we be learning something practical right now" ?
The mantra was repeated over & over again "you need to get a mentor, etc . . " Well, what they meant was "you need one of OUR mentors for many thousands of dollars. The 3 day seminar is really carefully crafted in that each of the topics have tidbits of information leaving you wanting to know more with the rabbit hole disclaimer "you can't learn it all in 3 days, so you need advanced training".
Another Red Flag went up when Bonita Fieser threatened to call the police on anyone bad mouthing the program with what she termed as "hazardous waste". Evidently there were 2 men ejected from the conference for criticizing the program (although I don't know the details).
They have this other tactic where you go back and get your "certificate" & an "access card" to their website. All this is is for you to back to one of the reps so that they can get a last crack at you to sell their 12K to 44K training. They use this term over & over on the unsuspecting person when they haven't enrolled; "What's Holding You Back". That question is most manipulative in that no matter what your answer is, it seems like that is what is holding you back. The result is that you think that there is something holding you back and that you yourself has a serious problem because you are not ponying up 12K-44K.
In conclusion from my experience, and from the ones motivated to post here at ripoffreprt.com; I believe that these are the levels of manipulation administered by
Robert Kiyosaki, Rich Dad Academy / Rich Dad Education / Wealth Intelligence Academy, et al . . .
Level 1 Manipulation:
Invite you to a free seminar & shake you down for $495 for the 3 day seminar. This is accoplished by giving you a book by Rich Dad Education, Guide To Real Estate Investing ; and Choose To Be Rich DVD/CD book package. All of which have a seriously inflated retail price; but are given to you for "free" if you pony up $495
Level 2 Manipulation
Through tidbits of information, cogent advertising, long drawn out teachings, up your credit card limit so that you can pony up 12K-44K for Rich Dad Education "advanced training".
Now these levels I am merely speculating on, but through what I have been reading, I believe this is accurate through deductive logic
I am not sure If I have these in the right order
Level 3 Manipualtion
Once signed up for 12K-44K, you are persuaded to buy, from their attornies; expensive multi-level asset protection packages in which your properties (which you haven't even bought yet because you are in the hole 12K-44K) are protected through a regional LLC, which is owned by a Nevada Corp, which is owned by an IBC.
Level 4 Manipualtion
Once signed up for 12K-44K, you are persuaded to "invest" in some dumpy land in Costa Rica; with the "honor" of being an "international investor" - Whoopdy Doo!
The Real Gist of this is that this is really a veiled MLM scheme. The "reps" are splitting up the booty of the 495 & the 12K-44K for "signing you up". If you sign up, you will now do the same, but the ones above you still make a cut of your cut, and so on down the line . .
They got talked into it and are now passing the curse along to you so that they can break even on the American Nightmare (and other failed investments) !