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Old March 7th, 2006 #1
Angle
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Default 'Rich Dad, Poor Dad' - opinions?

I saw this book on Amazon, which I've seen before but not read. What do people think? It seems to revolve around the idea that work = taxes, but assets are the key to wealth. Naturally, this is capitalistic as hell and depends upon the natural division of man into sucker and smart.


http://www.amazon.com/gp/product/044...Fencoding=UTF8

One thing that struck me was the blurb - 'This book will ... challenge your belief that your house is an asset.' Controversial!
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Old March 7th, 2006 #2
jozu
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I downloaded the audio book from limewire.

It's ok. Fairly obvious stuff really, but there is some good advise that most of us don't really give a second thought to.
 
Old March 7th, 2006 #3
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Before you attempt to put any of Kiyosaki's ideas into practice, read this:

http://www.johntreed.com/Kiyosaki.html

Draw your own conclusions. I've concluded that Kiyosaki is a con artist.
 
Old March 9th, 2006 #4
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Quote:
Originally Posted by DJ_Zarathustra
Before you attempt to put any of Kiyosaki's ideas into practice, read this:

http://www.johntreed.com/Kiyosaki.html

Draw your own conclusions. I've concluded that Kiyosaki is a con artist.
Cheers for that.
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Old March 10th, 2006 #5
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RE: Angle

The gist of the book is advocating that one should use one's money to buy assets and not liabilities. That makes sense. Avoidance of the jew's traps without specifically naming the jew.

It starts-off with a convoluted story about his real father vs. his adopted father's approach to money. In a back-handed way, he puts-down his real father. Not very Oriental of him, I might add.

Nevertheless, the book gives sound financial advice worth heeding.

Also, take with a grain of salt his critics. Especially the previous post's link. It strikes me as odd that one would be so obsessed with him and his books to the point where they feel the need to delve into all of that inane minutia. Is there a jew in the woodpile?
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Last edited by brutus; March 10th, 2006 at 12:29 AM.
 
Old March 10th, 2006 #6
Antiochus Epiphanes
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Quote:
Originally Posted by Angle
I saw this book on Amazon, which I've seen before but not read. What do people think? It seems to revolve around the idea that work = taxes, but assets are the key to wealth. Naturally, this is capitalistic as hell and depends upon the natural division of man into sucker and smart.


http://www.amazon.com/gp/product/044...Fencoding=UTF8

One thing that struck me was the blurb - 'This book will ... challenge your belief that your house is an asset.' Controversial!
there are definitely some good nuggets in that book. like that self-employed individuals should use corporations to minimize payroll taxes. that's a basic small business strategy but most people who are not CPAs or business lawyers dont know about it.
 
Old March 17th, 2006 #7
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Whenever I see Kiyosaki, I'm reminded of that creepy
Tom Vu and his ridiculous real estate infomercials.
Anyone else remember him?

http://infomercial.tvheaven.com/tomvu.htm

http://infomercial.tvheaven.com/videos/tom_vu_babes.wmv
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Old March 17th, 2006 #8
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Because of this thread I noticed his infomercial while flipping through the UHF channels.

In Kiyosaki's infomercial he introduces his wife "whom he loves VERY VERY much" a white young blonde career woman with a tight body.
 
Old March 17th, 2006 #9
Itz_molecular
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Quote:
Originally Posted by JimInCO
Whenever I see Kiyosaki, I'm reminded of that creepy
Tom Vu and his ridiculous real estate infomercials.
Anyone else remember him?
Oh yeah, I remember him very well . One of those good Vietnamese immigrants who was going to do so much to improve our country . He swindled plenty of folks , $16,000 for a 72 hour seminar that just wore people out.

Did you see the special that 20/20 did on him ? Showing all the lies and misrepresentation he did, one of his satisfied customers was his brother-in-law .

They exposed his swindle scheme and showed the methods he used to bilk people.


Here is one , by a guy who paid $1000 for a one day seminar . The business plan totally flopped .
http://www.johntreed.com/Folsterletter.html

Last edited by Itz_molecular; March 17th, 2006 at 06:02 PM.
 
Old March 20th, 2006 #10
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Vu said you can get real estate deals at tax and foreclosure sales. That is true. Vu will not be the last one to popularize that kind of thing. Fixer-upper type real estate strategies are reasonable methods and for a person with good local knowledge and common sense there are many opportunities.
 
Old March 20th, 2006 #11
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Quote:
Vu said you can get real estate deals at tax and foreclosure sales. That is true. Vu will not be the last one to popularize that kind of thing. Fixer-upper type real estate strategies are reasonable methods and for a person with good local knowledge and common sense there are many opportunities.
I ran into an an old high school friend of mine recently. This year, the guy will celebrate 20 years on the City Fire Department. He will retire with a lifetime pension at half of the average of his three highest earning years (around $40K in annual pension) . Additionally, he (and wife) get lifetime medical and dental coverage. Not a bad gig and he's only 43 years old.

Because of his fire fighters schedule (3 days/nights on; 4 days/nights off) he had alot of free time to scout out good real estate buys in the area. Generally, these were "fixer upper" type properties in above average neighborhoods. He would buy one of these and start working on it himself; sometimes his kids would help out after school. In the last couple of years he's "turned" 8 properties (averaging 1 property every 3 months) each time making a nice healthy profit which then went back into his main house (now mortgage free and updated). Doing the work himself not only saved money on contractors but he also learned various skills such as carpentry, hanging sheetrock, landscaping. He's ready in go full blast into his second career: Real Estate Investing.
 
Old March 20th, 2006 #12
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Quote:
Originally Posted by Omega Man
I ran into an an old high school friend of mine recently. This year, the guy will celebrate 20 years on the City Fire Department. He will retire with a lifetime pension at half of the average of his three highest earning years (around $40K in annual pension) . Additionally, he (and wife) get lifetime medical and dental coverage. Not a bad gig and he's only 43 years old.

Because of his fire fighters schedule (3 days/nights on; 4 days/nights off) he had alot of free time to scout out good real estate buys in the area. Generally, these were "fixer upper" type properties in above average neighborhoods.
Great. Our tax dollars at work. The goverment is so bloated with overspending its an inside joke.

Quote:
Originally Posted by Omega Man
He would buy one of these and start working on it himself; sometimes his kids would help out after school. In the last couple of years he's "turned" 8 properties (averaging 1 property every 3 months) each time making a nice healthy profit which then went back into his main house (now mortgage free and updated). Doing the work himself not only saved money on contractors but he also learned various skills such as carpentry, hanging sheetrock, landscaping. He's ready in go full blast into his second career: Real Estate Investing.
Not only is he not working most of the time for his government job, he's flipping real estate on the side, and causing house prices to inflate right along with every new graduate of the Carlton Sheets homeschool of speculation.

Ah, I dont think most jews have it this sweet.
 
Old March 21st, 2006 #13
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Quote:
Originally Posted by Durban
.......Not only is he not working most of the time for his government job, he's flipping real estate on the side, and causing house prices to inflate right along with every new graduate of the Carlton Sheets homeschool of speculation....Ah, I dont think most jews have it this sweet.
Wow, what a whiner. You hear about somebody's friend making a couple bucks by rehabbing existing housing stock and you call him a jew.

I know plenty of people who do this and in case you didnt realize this, most people who work with their hands are not JEWS.

I say if you can make money doing this, go for it. Just be careful your margins are big enough. I knew an old guy who did this for decades -- deals set up by his unethical "friend" who was a broker/lawyer/real estate agent-- where he never had a decent margin-- bought em on land contract and sold em that way, with hardly enough markup to cover real est taxes and insurance let alone profit and risk. Look before you leap.
 
Old March 21st, 2006 #14
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Quote:
Originally Posted by Antiochus Epiphanes
Wow, what a whiner. You hear about somebody's friend making a couple bucks by rehabbing existing housing stock and you call him a jew.

I know plenty of people who do this and in case you didnt realize this, most people who work with their hands are not JEWS.

I say if you can make money doing this, go for it. Just be careful your margins are big enough. I knew an old guy who did this for decades -- deals set up by his unethical "friend" who was a broker/lawyer/real estate agent-- where he never had a decent margin-- bought em on land contract and sold em that way, with hardly enough markup to cover real est taxes and insurance let alone profit and risk. Look before you leap.

Tell that to the new generation of white kids that will have to live with their parents till they are past 35 years old because of all these White yuppies who are flipping houses causing real estate to inflate beyond reach of anyone who hasnt been in the market since 2000.

You think white birth rates are low now? There wont be any whites being born in the near future because whites wont have kids until they have a house.

Whites have become jews.
 
Old March 21st, 2006 #15
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Quote:
Originally Posted by Durban
Not only is he not working most of the time for his government job, he's flipping real estate on the side, and causing house prices to inflate right along with every new graduate of the Carlton Sheets homeschool of speculation.
This works just fine, so long as there is cheap money available and the government is flooding the country with immigrants . Cut away either one of these and the house flipping falls flat on its face .
 
Old March 21st, 2006 #16
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Quote:
Originally Posted by Durban
Tell that to the new generation of white kids that will have to live with their parents till they are past 35 years old because of all these White yuppies who are flipping houses causing real estate to inflate beyond reach of anyone who hasnt been in the market since 2000.

The flipping isn't causing the real estate to inflate, it's massive immigration combined with cheap/easy money. Flipping is only a symptom, not the cause.

You think white birth rates are low now? There wont be any whites being born in the near future because whites wont have kids until they have a house.

Excellent point , the media hasn't informed us yet , but there is a real baby bust occurring , because of the expensive real estate and high inflation in essential items. Are we every going to have hell to pay in a decade or two.

Whites have become jews.
Real Estate really isn't going up in value, the dollar is just going down . Dollar has lost over 70% of its value in the last two decades.
 
Old March 21st, 2006 #17
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Quote:
Originally Posted by Antiochus Epiphanes
Vu said you can get real estate deals at tax and foreclosure sales. That is true. Vu will not be the last one to popularize that kind of thing. Fixer-upper type real estate strategies are reasonable methods and for a person with good local knowledge and common sense there are many opportunities.
Yeah, but Vu says to offer 40 or 50 percent of the asking price , HA ! Read the link that I posted, the guy tried that nonsense, it was a total flop, not a single taker ! The man doing the fixer uppers is working as a general contractor and making money proportionate to the occupation. He isn't becomming a millionaire as Vu says is possible. Plus , he didn't pay 1000 bucks for one of Vu's over-hyped siminars .
 
Old March 21st, 2006 #18
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Quote:
Originally Posted by Durban
Not only is he not working most of the time for his government job, he's flipping real estate on the side, and causing house prices to inflate right along with every new graduate of the Carlton Sheets homeschool of speculation.

Ah, I dont think most jews have it this sweet.
That is a naive statement. Most jews would laugh at that kind of money, chump change . A jew lawyer that boilerplates trust agreements at $500 a whack, 5 a day, that's $2,500 a day , just to have his secretary fill out a couple of forms. jews that manage hedge funds anything from a few $100,000 a year to several million . A jew abortionist making almost $2,000,000 a year .

Your friend may be doing well by working class standards , but that is tip change to people making serious money.
 
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