Rich Dad's Guide to Investing

Sowpub'ers -

In the past, we've discussed Robert Kiyosaki's "Rich Dad" series of books. The first was "Rich Dad, Poor Dad." The second was "Cash Flow Quadrant." To be quite honest, for me neither one of those books had much meat in them. I already susbcribed to the theories in them. In fact, on someone's recommendation, I recently bought "Cash Flow Quadrant." I was disappointed enough with it that I took it back to Borders. I really didn't want the money back. I wanted to exchange it for a better book. (By better I mean one with ideas in it I hadn't heard.) I looked for Robert Allen's latest book. They supposedly had it in stock but it wasn't on the shelf. So I decided to take a look at Kiyosaki's "Rich Dad's Guide to Investing." I spent about 30 minutes checking it out before I left the store. It looked good enough so I exchanged the other one for it.

I've been reading it for several days now. IMO, this is where all the real meat is. So... if the first two books left you flat, I would suggest checking out "Rich Dad's Guide to Investing." It's made me think about a number of things.

Rick Smith, "The Net Guerrilla"


Would You Like to Double Your Salary in 90 Days Like I Did?

Hi Rick,

Robert Kiyosaki's methods do work.... While I don't invest in property like Kiyosaki does, a friend of mine is a successful property investor after being inspired by, and following, Robert Kiyosaki's books (and he's read beyond them too)....

The essence of his property investing technique is this: borrow from the bank to make your purchase, and then make sure the rental payments (from your tenants) at least cover your bank repayments. If it *more* than covers your bank repayments, then you get a regular cashflow from it too. That's the guts of it....

It sounds simple, and my friend assures me that it is. :) He started about three years ago, and a few months ago he just bought his second investment house.... He's doing this while he's working a job, and also finishing off his studies too!

By the way, he also did well with a "chattel-type" of property deal.... My friend's first purchase was an empty piece of land. A couple years later, he sold the land for a nice profit....

But what if you don't have enough money for the down payment on a piece of property, or what if you can't get a loan? You can also get started in property with REITs.... Real Estate Investment Trusts (known as "Property Trusts" in Australia). This is what another friend of mine did. (I don't think Robert Kiyosaki mentions this angle....)

A REIT is when a group of people collectively own a piece of property or a portfolio of properties.... By buying REITs you become one of the group of owners, and you'll get a dividend payment a couple times a year which is the return on your investment.

It's a good way to get started in property in a small way, because you could probably get started with as little as a few hundred dollars.... REITs are generally bought and sold on the stock market, but because they are essentially property they are inherently more stable than most stocks.... Your return generally comes from the dividends you get, rather than from changes in the price....

Anyhow, I'm a big fan of Robert Kiyosaki's books.... His goal is to try to get you to change the way you think. :)

- Dien

Dien -

> But what if you don't have enough money for
> the down payment on a piece of property, or
> what if you can't get a loan? You can also
> get started in property with REITs.... Real
> Estate Investment Trusts (known as
> "Property Trusts" in Australia).
> This is what another friend of mine did. (I
> don't think Robert Kiyosaki mentions this
> angle....)

I'm not against REITs but they ran into some real trouble in this country. I think it was back in the 80s. The problem was, if I remember correctly, there were a lot of scams, inflated values, etc. I think the SEC revamped the way REITs operated. I think they're much more stable now.

One way you can finance investments in real estate without much capital outlay is through tax lien certificates. (Not all states sell tax liens. Some states are tax deed states. Also, I'm not sure how this works outside the US.) These instruments allow you to get in for as little money as you want. And there are ways you can get pretty good returns on the money. This is something I've been looking into pretty seriously for the last few months. I'll keep you posted on how things work out.

> Anyhow, I'm a big fan of Robert Kiyosaki's
> books.... His goal is to try to get you to
> change the way you think. :)

Well, the 3rd book in the series has made me give some serious thought to a few things.

Rick Smith, "The Net Guerrilla"


Who Else Wants to Double Their Salary in 90 Days Like I Did?

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> Sowpub'ers -

> In the past, we've discussed Robert
> Kiyosaki's "Rich Dad" series of
> books. The first was "Rich Dad, Poor
> Dad." The second was "Cash Flow
> Quadrant." To be quite honest, for me
> neither one of those books had much meat in
> them. I already susbcribed to the theories
> in them. In fact, on someone's
> recommendation, I recently bought "Cash
> Flow Quadrant." I was disappointed
> enough with it that I took it back to
> Borders. I really didn't want the money
> back. I wanted to exchange it for a better
> book. (By better I mean one with ideas in it
> I hadn't heard.) I looked for Robert Allen's
> latest book. They supposedly had it in stock
> but it wasn't on the shelf. So I decided to
> take a look at Kiyosaki's "Rich Dad's
> Guide to Investing." I spent about 30
> minutes checking it out before I left the
> store. It looked good enough so I exchanged
> the other one for it.

> I've been reading it for several days now.
> IMO, this is where all the real meat is.
> So... if the first two books left you flat,
> I would suggest checking out "Rich
> Dad's Guide to Investing." It's made me
> think about a number of things.

> Rick Smith, "The Net Guerrilla"

... "Multiple Streams of Income on the Internet."

The previous book was "Multiple Streams of Income." I have that one. I knew the latest one was out. I believe you can find it Amazon.

Rick Smith, "The Net Guerrilla"


Would You Like to Double Your Salary in 90 Days Like I Did?

Hi Rick,

Like you said you already understood the "THEORIES" (ie. Mindset, Concepts) so I agree that you would have found VERY LITTLE in his first two Books.

I share Dien's view. In Kiyosaki's first book and his others, He was trying to change the MINDSET of his readers. Basically to understand what an "ASSET" really is! and Why the RICH GET RICHER!

With this MINDSET, you have real POWER because you can pick and choose the specific techniques which you like to make money

He was trying to differentiate himself from OTHER authors, that only give you TECHNIQUES! Once you understand the CONCEPT and have the MINDSET then and only then did he introduce the reader to DETAILS and SPECIFICS in RICH DAD GUIDES TO INVESTING.

I found his books extremely valuable to me, because he explains in SIMPLE terms, How the Rich think?

Understanding that, now it's a matter of CHOOSING and DOING something. Like you and Gordon!

Duane (Mr. Mindset) Adolph
> Sowpub'ers -

> In the past, we've discussed Robert
> Kiyosaki's "Rich Dad" series of
> books. The first was "Rich Dad, Poor
> Dad." The second was "Cash Flow
> Quadrant." To be quite honest, for me
> neither one of those books had much meat in
> them. I already susbcribed to the theories
> in them. In fact, on someone's
> recommendation, I recently bought "Cash
> Flow Quadrant." I was disappointed
> enough with it that I took it back to
> Borders. I really didn't want the money
> back. I wanted to exchange it for a better
> book. (By better I mean one with ideas in it
> I hadn't heard.) I looked for Robert Allen's
> latest book. They supposedly had it in stock
> but it wasn't on the shelf. So I decided to
> take a look at Kiyosaki's "Rich Dad's
> Guide to Investing." I spent about 30
> minutes checking it out before I left the
> store. It looked good enough so I exchanged
> the other one for it.

> I've been reading it for several days now.
> IMO, this is where all the real meat is.
> So... if the first two books left you flat,
> I would suggest checking out "Rich
> Dad's Guide to Investing." It's made me
> think about a number of things.

> Rick Smith, "The Net Guerrilla"

Duane -

> He was trying to differentiate himself from
> OTHER authors, that only give you
> TECHNIQUES! Once you understand the CONCEPT
> and have the MINDSET then and only then did
> he introduce the reader to DETAILS and
> SPECIFICS in RICH DAD GUIDES TO INVESTING.

Exactly. My only problem was that I *wanted* the techniques since I understood the concepts. And maybe that's why I found "Investing" to be more valuable to me since it appears he's introducing new concepts as well as techniques.

> I found his books extremely valuable to me,
> because he explains in SIMPLE terms, How the
> Rich think?

I agree.

> Understanding that, now it's a matter of
> CHOOSING and DOING something. Like you and
> Gordon!

That's always the toughest part, choosing and doing.

Rick Smith, "The Net Guerrilla"


Who Else Wants to Double Their Salary in 90 Days Like I Did?

Hi Rick!

Thanks for an excellent recommendation. Looks like this is a *must read* for me.

With Purpose and Passion,

JULIE