In his book he says:
“Personally, I find it distasteful when people attempt to offer me less than what I want…for what I have…that they want.” p224. He then goes on to say basically you should just pay the going price.
Come on, Robert, whatever happened to negotiating a deal? As if you are going to buy property and just fork out the asking price. Who does that?
He talks about a property in the book yielding around 15%. Show me properties yielding this much. No good saying they are out there if they are 1 in a 1000 – you’ll never find them no matter how good you are. How about a bit of reality?
I like to think I am educating myself financially, mainly in the share market at this stage. But reading his books actually makes me feel inferior. Whether he likes it or not he favours real estate heavily. There’s nothing wrong with that, but it’s not the only investment avenue.
In his view a big crash is coming in the share market. He will be right at some point and I tend to agree with him, but his timing may be way off. Throughout history there have always been crashes to shake excesses out of the market.
It’s no good thinking we will be immune from a big crash by owning real estate. It will dive as well. Who will be able to afford to buy houses if the economy has crashed and burned? There will be no demand.
Robert Kiyosaki seems to be one of those guys that you could never please, i.e. you could tell him your strategy, but he would be able to pull it apart. I do find him contradicting himself at times in his books. He often refers to the laws of nature. They apply to the physical world and were never intended to apply to financial matters. Sure you can see some similarities, but don’t confuse the two like he seems to.
Yeh, I know he is filthy stinkin’ rich and has succeeded beyond what most of us could imagine. He definitely has something most of us don’t – an overwhelming drive to create a successful business? Are we all similarly motivated? No, because it is not in everyone’s nature. I am good at crunching numbers but I am not creative enough to build a business.
I have spoken about RK in other posts and want to reiterate the underlying theme he presents is sound, even if he is carried away with his own success.
Wez.
<<<<He talks about a property in the book yielding around 15%.>>>>
They are probably around, but he is probably a little silent on all the truth. There are areas within many towns and cities in the US that are a little unsafe. You would not want to go there even during the day. To sell those properties people are willing to sell no money down and reduce the price considerably (hence the high yield).
Fortunately for us here in Australia we dont really have areas like this.
After a while reading books from RK, and people like Robert G Allen, it gets tiring of all the talk about what can be done in the USA property market….
So much of it is not relevant to Australia…..
I’m now trying to focus on local property authors…… I still look to the US guys for how they were inspired etc, but thats about it…..
The statement about being offended about low ball offers kinda stinks…… arrogance if you ask me…… He like to do deals, but doesn;t like them being done to him…….. FUNNY……….
I think with Kiyosaki you’ve got to read it like a non fiction. If that enables you to challenge your beliefs and think in a more proactive way then that’s what I take from his books. I doubt if what he says is even true. However, after I was given the ‘Cashflow Quadrant’ it changed my thinking about my spending habits and propelled me forward.
Cheers,
Gatsby!Like a fiction, you mean Gatsby?
I guess what I feel about all of these books is … I imagine they are very enjoyable, and people like to read them, and learn new ways of doing things… but I do get surprised when people start *sounding* like the book. I learned many things by reading so many books (not really investment books) but I can’t imagine walking around sounding like Jonathon Livingstone Seagull, or The Little Prince, or a William Faulkner novel. I reckon it’s a matter of thinking “I enjoyed that book and it made sense”, rather than *becoming* the book.
I think if we are putting others “up” then we are, in a de facto sense, putting ourselves down. I reckon there are financial “secrets” within us all- it’s merely a confidence in one’s self that allows us to develop autonomy.
kay henry
Hi Guys,
i love reading and listening to roberts books,cd’s and cassettes, without reading and listening to what he has said, i would honestly not be where i am now…
Cheer,
sisOriginally posted by wezwaz:…..Yeh, I know he is filthy stinkin’ rich and has succeeded beyond what most of us could imagine. He definitely has something most of us don’t – an overwhelming drive to create a successful business? Are we all similarly motivated? No, because it is not in everyone’s nature. I am good at crunching numbers but I am not creative enough to build a business…..
Wez.Hi Wez. Unfortunately you say it all in the above paragraph. Do you want to prosper? Stop seeing prosperous people as “filthy” “stinking” – and stop seeing yourself as prosperity being “not in your nature” – not “creative enough ” and other derogatory self pitying comments like that.
If you think rich are filthy but good natured people with other abilities that do not include making money are soo cool, well, you have made your own path to mediocrity and lack of money.Nothing wrong with that, we all choose what we want to be, you have chosen not to make money, not to succeed in business because you have this idea that it is wrong to succeed. Oh yes, you have decorated this idea with lots of socially acceptable concepts. And you are not alone, you belong about 95% of the population.
Try to snap out of you limiting beliefs and you may find that success is a state of mind, a choice, and that you don’t need special talents, just the right belief system.May God prosper you always.[biggrin]
MarcScott, papa bear is the low ball king!
maybe RK can get a few lessons from him…[cigar]I have recently finished Robert’s “Business School” and think it is his best yet. Over the past few years we have attended many seminars, read dozens of books and used our own common sense to form a strategy of what we want for us in life; not what someone else thinks we need. We have grown in our personal development to a level that enables us to confidently pursue our dreams and to us that is what it is all about. Anything you get from books etc is information that should be used as a tool to be applied as applicable only. If, after reading, you find you are still in a hole, then read something different to help change your thinking so that you can achieve what you are after. The Magic of Thinking Big, How to Win Friends and Influence People are a couple of good ones. The first couple of investments are the hardest and then it becomes ridiculously easy especially if you find a way to produce some passive income along the way.
If I knew then what I know now……….you know how it goes
As Jim Rohn says success is not to be pursued
it’s what we attract by what we becomeIE looking at our issues, personal growth, etc
Our outer reality reflects our inner beleifs
Cheers
“When you can walk on water…take the boat”
Marc1
Blow it out your a..e! LOL [strum]
You make a number of assumptions that aren’t true. Yes, you caught me on the “filthy stinkin'” terminology. I shouldn’t have used it since it wasn’t meant literally. We all have the right to be rich if we can make it happen. I know that a lot of rich people do a lot in the community that never really sees the light of day. If people create their wealth by fair means, more power to them. I want to learn from those people.
Don’t assume things about me, such as being on a path to mediocrity. You don’t know how wealthy I am. I’m far from being on the bones of my a..e, like the average person off the street. I always work on my mindset, but it is not as poor as you might believe. In fact, I am open to many ideas in the world of investment. I can’t stand hype and so-called “positive” talk that turns out to be fluff. Ed Burton (a seminar presenter) once stated something like, “doesn’t matter how positive you are, if you don’t know what to do you will fail.” Truer words were never spoken. So there is far more to investing than just a positive attitude (which is a given).
Just because Robert Kiyosaki is a “guru” doesn’t mean we can’t question his advice, writings and motives. He is not precious. I give him due credit for creating a fabulous empire though. He is very good at his business.
Wez.
“He talks about a property in the book yielding around 15%. Show me properties yielding this much. No good saying they are out there if they are 1 in a 1000 – you’ll never find them no matter how good you are. How about a bit of reality?”
From what I know of the US market find a deal that can provide 10-12% is relativly easy to find (mid-west). Here it’s alot harder (thanks to negative gearing), but commercial does offer similar opportunities to find that level of return.
“you’ll never find them no matter how good you are.”
I have (even on residential!)…
“Personally, I find it distasteful when people attempt to offer me less than what I want…for what I have…that they want.” p224.”
I think the reason he is saying this is because a large amount of emphasis in a lot of material has been on putting low ball offers on property. He is saying that sometimes thats not the best way to go (he explains why with the potnetial upside, that the buyer seems to ignore).
“Just because Robert Kiyosaki is a “guru” doesn’t mean we can’t question his advice, writings and motives.”
I agree.
Rgds.
Lucifer_auI haven’t finished reading the book yet. It is a thick one isn’t it? They tend to slow me down a bit.
So far, I am getting a theme of ‘velocity of money’ coming thru. Interestingly there was a comment from Robert that if the realestate market becomes too expensive and he cannot find a great deal, he will move his money into a hedge fund so that at least his money is making ‘something’ while he waits for a reasonable realestate market to return.
The book seems to have a more agressive slant to it and a lot more urgency to get out there and invest with a view to maximising profits.
If you want to get out of a hole, first stop digging.
Lucifer
Thanks for your comments and benefit of your experience.
Brenda
RK does talk about switching to hedge funds at a point in the cycle. But the idea of switching to catch different cycles is more difficult than it sounds. Wouldn’t we all like to be moving our money at just the right time to catch each wave!
I have had investments in hedge funds for seven years now. My experience has generally been good. They performed very well through the 2001/02 bear market period, but the last year hasn’t been a good one for them. So the point I make is switching to a hedge fund won’t necessarily provide strong returns. Most importantly you have to find a good hedge fund. Like other managed funds, some managers are good and others are poor.
Wez.
Hi there,
I thought the book was great.It really opened my eyes to see the trends of the future.In general I love his positive thinking and self belief in himself.He is a role model I use to push myself and achieve my goals.Turn your computer into a high profit centre with the amazing ABC automated system.
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