![rich dad poor dad audio book real estate rich dad poor dad audio book real estate](https://i1.sndcdn.com/artworks-000288148802-9772it-t500x500.jpg)
So the Learning Annex would like to open it up so the public-which would include the Learning Annex’s lawyers and forensic accountants-can see what’s up. It further believes that this case in Wyoming-filed against Rich Global and a number of other Kiyosaki-controlled corporate entities by the lawyer tasked with helping it pay off its debts-revolves around the same issue. The Learning Annex is skeptical of Rich Global’s claims. And that brings us back to the latest round. Rich Global said in 2012 it would never move around funds in advance of a bankruptcy filing. Smart people see and treat these scams the same way as timeshare seminars.But the money, the money! So what happened to the money? That’s a good question. Too many people have this dumb idea, inspired by financially irresponsible pricks like Donald Trump, that real estate is some sort of infallible money-generating scheme and if you just do what someone else tells you, you too will be on the path to early retirement. Of course this isn't limited to realtors but it'd be nice to have higher standards since a problematic house or property is considerably more expensive than buying a lemon car or boat. It doesn't help that a lot of realtors are a slimy bunch of self-serving assholes too, probably because it doesn't take much to become one and the NAR "code of ethics" doesn't do anything to punish people who violate the code. Its the same sleazy bullshit as every other real estate investment scam, I wish more people understood that expensive real estate "conferences" and "seminars" that unqualified people can enter for a few hundred bucks entry fee are not some sort of way to real wealth.you want to build wealth buying and selling shit you probably have to increase its worth somehow (marketing, building, renovating, etc.). I liked the book, but I've heard (on radio/TV) ads for Kiyosaki's Rich Dad/Poor Dad real estate investment seminars, sign up today, costs only $xxx dollars and will grant you unbelievable access to properties that are in some sort of darknet-MLS system a normal realtor can't possibly know about.
![rich dad poor dad audio book real estate rich dad poor dad audio book real estate](https://cashflownew.com/wp-content/uploads/2020/05/Robert-Kiyosaki-Bundle-Collection-OF-BOOKS-AND-AUDIOBOOKS-Rich-Dad-Real-Estate-Rich-Financial-Quadrant-Retire-Young-510x510.jpg)
Just don't overextend yourself, and make sure you have plenty of liquid investments to cover expenses. I don't want to scare you I've been investing in rental RE for 15 years now, and overall it has been a good experience (my net ROI has been in the high teens, but at the cost of a lot of work). Taxes become much more difficult - start reading up on depreciation rules. You need to periodically renovate - new appliances, paint, carpet, etc. Renters stop paying, and you need to evict they damage the properties, and it is next to impossible to get fully reimbursed for the repairs you need to do. You need to cover expenses while the unit is vacant. You may need to plow more money into your properties at the most inconvenient times.
![rich dad poor dad audio book real estate rich dad poor dad audio book real estate](https://www.masterpassiveincome.com/wp-content/uploads/2019/03/Rich-Dad-Poor-Dad-Summary-Review-Small.jpg)
Think of it more as a small business than as strictly an investment. Rental real estate is potentially a good long-term investment, but one needs to understand what one is getting into. He describes real estate investing as all puppies and rainbows, which it is not. He derides stock market investment, even through it is the easiest and most consistent way to build wealth over the long term. I feel like I'm finally getting out of the so-called "rate race." The rent 2 units will bring in will cover my mortgage, provide me $300 cash flow, and allow me to save the $600 I used to pay in rent (provided the units are filled and the tenants are actually paying.) I just made an offer on my first income property. If the book really taught me anything, it's that poor and middle class people buy luxuries on credit rich people collect assets to pay for their luxuries. I started living within my means and stopped spending the money I didn't have on luxuries. I took on some freelance jobs for extra cash. My sister and I read the book in the same 3 month period, and even though she was just as excited about it, it didn't stop her from buying a $20,000 preowned BMW with 80k miles on it (on a $45k salary.) Whether the concept is fully grasped or not, the book has a lot of good info. I can understand that the whole concept might go over some readers' heads. I don't know why I've read so much negative feedback on here about it. I also now contribute to a 401k, Roth IRA, and keep at least $2,000 in my checking account, while also making a dent in my debt. Here is my Fidelity brokerage account (what I use mainly for savings): I read the book a year ago, almost to the exactly to the day. Before I read it I was barely saving anything - I'd probably have $3k in my checking account at most, but could dip down as low as $900 some months. I'm a 27/f making $54k a year with a 10% bonus. 'Changing my life' seems a bit dramatic, but it's true.