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Been receiving a lot of emails from Rich Dad Education about an upcoming workshop?
Wondering if it’s worth the time to go?
Well, I found out.
As I’ve dabbled with Robert and Kim Kiyosaki’s Rich Dad books and training on my Enwealthen path, I’ve signed up for various mailing lists. Recently, I was notified about a free education event in my area, so I decided to check it out. Here’s what happened.
The Rich Dad Education seminar was held in a local hotel conference room. The seminar staff were courteous and professional. Registration and sign in was a breeze. An added plus was that the seminar started on time, although it did run about 3 hours, not the 2 hours mentioned on the website. But I’m not complaining, as it was informative, and while they were selling further Rich Dad courses, it was not overly aggressive.
The one unexpected thing was that they had all the rows of chairs blocked off, and an usher would fill each row before opening the next one. Understandable, as it makes for best use of the space, and close contact inspires herd thinking, but still a tad socially awkward. Walking in, I did some quick math, and strategically delayed my entrance to get an aisle seat – I like my elbow room.
No recording devices were allowed – no photos, no audio recorders, not even a tablet or laptop computer – pen and paper only. So this information is all from my handwritten notes.
The Real Estate Pitch
After a brief warmup of the first 15 minutes of Robert Kiyosaki’s video Shooting the $acred Cows of Money, Jessie Conners spoke for about 90 minutes on real estate investing. If that name sounds familiar, you may recognize her from her stint on The Apprentice a few seasons back. A few tidbits she shared:
- Banks are being forced to sell their “shadow inventory” real estate – the property they’ve delayed foreclosure or sale, to avoid pushing prices too low.
- We’re in the middle of approximately $3.7 trillion in ARM mortgages having to refinance
- When buying, look for bank-owned, not MLS listed
- Look for investment financing which is based on the value of the property, not your personal financial wherewithal (sounds like hard private money lending to me)
Of course, all this information is available in the 3 day class. $200 gets you 3 days of training, the training materials, a copy of Shooting the $acred Cows of Money, and you can bring a guest.
I’m interested in real estate investing, so I figured it’s worth $200 to see what they have to offer, so I signed up. I’ve paged through some of the training materials and nothing appears earth-shattering, but we’ll see how it turns out. You can expect a review of their real estate investing seminar in a few months.
The Stock Market Pitch
Second half of the event was on the stock market. I admit, I paid less attention to this section as I’m not as interested in stock market investing, given the current state of the markets.
The speaker was a smooth talking salesman type, but a believable one. He spent most of his time talking about trading – demonstrating momentum trading based on technical indicators, options strategies such as covered calls for generating income, and put strategies for making money when the stock falls.
Common sense would tell me that if it were that simple, everyone and their dog would be doing it already, although covered calls with a collar to generate income on stocks you’re already holding sounds like it might be worth exploring further. As you know, it’s easy to cherry pick stocks with 20/20 hindsight to show how your strategy is perfect. This also sounds like day trading, and I’ve been burned by mechanical strategies in the past, so I’m not jumping at this chance at present.
The stock trading class they offer is also $200, includes a free month of their virtual trading environment ($39/mo afterwards) for practicing your techniques, and you can bring a guest. The class was discounted to $99 if you already signed up for the real estate training.
And The Delivery
In general, the session was lower pressure sales than some free events I’ve taken in the past. Prices for the classes are reasonable compared to what you see elsewhere. However, TANSTAAFL is the rule of the land, so we’ll see how much value I get for my dollar once I’ve completed the seminar. As usual, lots of sales technique – get the crowd interacting with you, free gifts and rewards for acting quickly, by now, you know what I mean – but not over the top.
If you’re still on the fence about attending a Rich Dad seminar, read more of Robert Kiyosaki’s books and take the time to think it over.
Trust me, they’ll still be there if you decide to check it out.
Have you been to one of these free educational events? What did you think of it? Leave a comment below with your experiences.
Photo of Monopoly houses on coins courtesy of Images Money.