Rich Dad Seminar a Scam?

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Batman

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#2277504 15-Jul-2019 22:21

I personally know people who run these seminars. They never tell me too much about these seminars. I never get invited to attend.

But I have heard snippets of a few things

- you pay them to coach you to get rich

- you get rich by taking calculated risks - there are many ways but in NZ almost always involves buying undervalued property

- if the property market goes up you get rich fast, if it doesn't you don't

- 99% of people who pay to attend the seminars them dare not take the plunge

- 1% do and continue to pay them to mentor them to get rich, you stop paying them they stop mentoring you

Just read the book Rich Dad Poor Dad

frankv

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#2277541 16-Jul-2019 07:25

tripper1000:

In NZ the law expects the owner to pull up their big-boy pants and take some culpability for their mess, but in the USA it places far less onus/risk on the owner and far more on the bank. Many times the owner simply abandons the place (for instance when prices go down and they look likely to make a loss) and bank is left to pick up the pieces.

Thanks for that... on trips to the USA, I was puzzled by the considerable number of derelict houses we saw, mostly outside of towns. Part of that puzzle was the low price of land, and pretty much absence of town planning and building restrictions, outside of "incorporated" areas (i.e. towns and cities). But your post added the missing piece.

richms

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#2277543 16-Jul-2019 07:32

frankv:

Thanks for that... on trips to the USA, I was puzzled by the considerable number of derelict houses we saw, mostly outside of towns. Part of that puzzle was the low price of land, and pretty much absence of town planning and building restrictions, outside of "incorporated" areas (i.e. towns and cities). But your post added the missing piece.

There are weird things with property taxes there which remain with the property too, so if someones walked away and not paid that it can make the place not worth anything even if you got it for free. Someone was telling me that if they got a house and fixed it up, the property taxes would go up and that would be also applied to the back ones that were owed, which sounds absurd to me, but everything in the US seems absurd from outside it.

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frankv

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#2277632 16-Jul-2019 09:46

richms:

frankv:

Thanks for that... on trips to the USA, I was puzzled by the considerable number of derelict houses we saw, mostly outside of towns. Part of that puzzle was the low price of land, and pretty much absence of town planning and building restrictions, outside of "incorporated" areas (i.e. towns and cities). But your post added the missing piece.

There are weird things with property taxes there which remain with the property too, so if someones walked away and not paid that it can make the place not worth anything even if you got it for free. Someone was telling me that if they got a house and fixed it up, the property taxes would go up and that would be also applied to the back ones that were owed, which sounds absurd to me, but everything in the US seems absurd from outside it.

Happens in NZ too... rates continue to accrue on properties. I recall houses for sale in Ohura for $1, having been essentially abandoned. Once the amount owing got to a certain level, the local Council took ownership. But even then they couldn't sell them IIRC.

Dratsab

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#2277770 16-Jul-2019 14:17

Technofreak:

elpenguino: All based on ignorance and promises of ever appreciating assets.

Capitalism at it's finest !

Hard sales with smoke and mirrors.

It's so American isn't it.

So if you think capitalism isn't any good, What system do you prefer? The only other system I'm aware of is communism. You only need to look at East and West Germany to get a comparison between the two of them. To paraphrase Winston Churchill, "Capitalism is the worst financial system in the world except for all the other systems".

Sure capitalism isn't perfect by any means, but it sure beats the alternative. No matter what system you have there is always a group of people who will try and take advantage of others. Unfortunately there's always enough suckers who fall for the "almost too good to be true" ruse. The rule of thumb "If it seems too good to be true, it generally is" applies.

To be fair, I read the comment as being a poke at the extreme end of capitalism rather than as being directed at capitalism as a whole.

Technofreak

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#2277792 16-Jul-2019 15:05

Dratsab:

To be fair, I read the comment as being a poke at the extreme end of capitalism rather than as being directed at capitalism as a whole.

Fair comment. I didn't see it like that, but can see how it may have been said with that intention. Unfortunately the intended tone of the message gets lost sometimes when there is no tone of voice or facial features to go with what is said.

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#2277834 16-Jul-2019 17:28

how to get rich = how to scam people

the only people who get rich is the people scamming people

"if it sounds too good to be true it probably is"

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#2278129 17-Jul-2019 09:32

Technofreak: Unfortunately the intended tone of the message gets lost sometimes when there is no tone of voice or facial features to go with what is said.

Quite true which is why it's often better to query than conclude.

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