Have you tried Wealth Intelligence Academy and/or Rich dad Education?
Soured on Wealth Intelligence Academy
Have you tried Wealth Intelligence Academy and/or Rich dad Education?
| I went to a wealth intelligence academy seminar run for rich dad education and was excited and concerned with what went on. Has anyone else been to one and thinks the same? |
Last weekend I went to a Rich Dad education seminar which was being run by Wealth Intelligence Academy.
For those of you that don't know, Rich Dad Education is a series of programs run in the spirit of the "Rich dad, Poor dad" book and its follow ons. Essentially, rich people have a different mindset than the middle and lower class and this makes all the difference.
The seminar I went to had some very interesting sections that showed how someone with the mindset of a rich person could turn an ordinary property deal into a money making machine, then repeat this success turning the whole process into a business where you don't work inside, ie you develop the business operation, not do all the work.
Some of the real world examples gives were just great. Everybody saw the deal there, but their first thoughts would only nett a little capital. The instructor then showed what was actually done with the property that made more capital and returned a cash flow.
I would have to say, that with the way it was presented, most people there could see that it was possible to repeat the deals shown and all it would take is some know-how and the correct mindset.
How everyone came to this conclusion may be a bit questionable tho...
The entire seminar was very well run. Discussion were held at tables where a table member then presented a summary to the rest of the group. The cashflow 101 game was played twice to show how different thinking can help in the game.
Now, for the entire seminar, the following ideas were repeated about every two hours and everyone asked to repeat out allowed; Being rich is about having a financial education and not about having money, if you do what you have always done you will get what you have always got. Also, the discussions seemed to just be a way to reinforce these ideas and to give an opportunity to the presenter to ensure everyone was on the right track.
Now, I think the education itself could be a great way into changing how you live your life by getting out of your job, but the way the education was presented just seemed so pushy and like a hard sell to me.
Anyone else been and had similar thoughts?
Soured on Wealth Intelligence Academy
I had a similar experience at a 3 day Real Estate seminar. There were a lot of success stories told with power point, photos and even pictures of one (only one?) successful couple who made 35K on a house in Florida.
The presenter was very personable and kept the class moving at a rapid pace. There was a work book with the class but it was rarely used. If you have had some experience with real estate already, the class could serve to inspire you to take another step in investing. The class itself would not give you much useful info on how to do that, however.
My overall impression of the class is that it was a springboard to purchasing the more expensive (10K, 15K, 20K, 25K, 35K) other classes that were actively sold beginning the second day. There was so much encouragement ("hype") throughout the first two days, we were looking forward to what other classes they could sell us.
My wife and I have been investing in single family homes for 20 years and are not new to this process. We wanted to find out how Kiyosaki made the big bucks because we are getting to the point where we are going to retire soon (on our own nickel, not Uncle Sam's) and want some more passive income.
I have two recommendations if you are a serious investor. The first one is free. Look in your local area for real estate investor's clubs. You will find people who have made lots of money in real estate and are very willing to help a new person.
The second is Rich Dad Coaching. Check the RichDad website. It costs ~ 5K depending on which plan you choose. My wife and I are half way through our year-long class and have one rental we are very happy with.
P.S. One warning about Wealth Intelligence Academy. They have very few available classes. We actually signed up for their expensive courses only to find that no in-person classes were available to attend. They suggested the online classes, but they won't work on a Mac computer. (We actually asked our trainer if their software was Mac compatible. He said it was and when we got it and tried to install it, it wouldn't run. They also have a research software program - claimed to be Mac compatible- that wouldn't work either. This one they are charging us $45 per month to access.
The sad story above is one we will survive. I have seen others who made this big purchase on credit cards and can't get their money refunded and don't have a year or two to learn to be an investor. I have also seen documents online where WIE is being sued in various states for "Misleading Information and Sales Tactics" I have included some links below for info on their ongoing problems with their business practices.
Good luck in your investing. It is possible to make money in real estate. Be very aware that it will take some time. Years in fact. Be prepared for the long run, get some mentors in your area, study well, and you will be successful.
Copy and paste the links for more info on WIE.
http://myfloridalegal.com/newsrel.nsf/newsreleases/BB082469E432ABD6852573CC0054A7C3
http://dockets.justia.com/search?query=wealth+intelligence+academy&search=Search&stateorcourt=court-alndce&lawsuittype=&documentfilter=allcases&cases=mostrecent&min-day=1&min-month=1&min-year=2004&max-day=3&max-month=12&max-year=2007
http://www.lesjones.com/posts/000262.shtml
http://www.ripoffreport.com/reports/0/270/RipOff0270358.htm
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