How long do we keep this thread active before we read in one of RK's books, "My ideas are so thought provoking that I was one of the most talked about subjects in the Retire Early forum. Of course this was post my armed services stint."?
So where do I find these LLCs?vic said:Most of it is in short term LLC's which return me about 20-30%/year.
The problem people are pointing out is that RK has been SUCCESSFUL at peddling his BS to the unwashed masses, not at actually implementing the very advice he sells. He's never made much money from real estate...he's nothing more than a liar and a fraud.Enuff2Eat said:RK is like any of the others "get rich" guru that talks alot about common sense and non-sense that 98% of the people in this forum already know but the only problem is.....
He is SUCCESSFUL period. when u get to that level, people will knick picking, exam and re-exam, scruntenized everything you said. RK's bunch of b.s makes alot of money for him and he got a couple of million books sold. So wether you agree or not, some of his got stuffs motivated and excite people.
enuff
soupcxan said:The problem people are pointing out is that RK has been SUCCESSFUL at peddling his BS to the unwashed masses, not at actually implementing the very advice he sells. He's never made much money from real estate...he's nothing more than a liar and a fraud.
soupcxan said:So where do I find these LLCs?
WoW The linked website (john t reed) has more valuable real estate information than all of Kiyoscumbags books combined. Thanks!Toejam said:Kiyosaki isn't the only author or radio/TV personality who has pushed real estate and get-rich quick schemes in the last 20 years or so. Anyone remember Robert Allen? What about Carlton Sheets, who is still on late-night TV commercials. Everytime I see any of these guys, I just turn the channel. You don't have to listen to any of this stuff if you don't want to!
Here's an extensive list of all these types of "authors" and "personalities" at this web site, many of whom are graded and evaluated by Mr. Reed here:
http://www.johntreed.com/Reedgururating.html
vic said:You will not find them. They are not advertised anywhere. We just know the guy personally. I was also wrong about the numbers, it is 35% and up/year. Just about to get into another one. It is all real estate development.
Vicky
spideyrdpd said:3. Reed does not believe that real estate can have positive cashflow.
quote:
almost all normal rental properties have negative cash flow. --- John T. Reed
http://www.johntreed.com/nothingdown.html
vic said:You will not find them. They are not advertised anywhere. We just know the guy personally. I was also wrong about the numbers, it is 35% and up/year. Just about to get into another one. It is all real estate development.
Vicky
Martha said:These sorts of things are usually private placements, offered to a select group of investers. Usually only accredited investers are allowed to invest; people with very high incomes or a million or more in assets. The securities laws limit the ability to offer these sorts of investments to non-accredited investers because of the high risk.
Can work out well. Or you can lose your entire investment.
PsyopRanger said:I am 29, “Bad Debt” free, own 2 real estate rentals with positive cashflow held in a LP with an LLC as the general partner,DW and I have Roth IRA's worth over $150,000 and earning 30% annual returns since 2002 (during the bear market). My kids ages 7, 6 both have Roth’s and will become millionaires around age 35.
Because of Kiyosaki’s challenge to get a financial education, I will retire at age 45 regardless of what happens to the markets because I have more than one option, I am diversified across asset classes and global markets.
i'm also going to guess that you can't verfiy most of the "formers" (but with upwards of 35% annual return, it's not important) and won't hear from any of the "latters"i'm going to guess that the former is in small single digits and the latter is in large double digits.
d said:i'm also going to guess that you can't verfiy most of the "formers" (but with upwards of 35% annual return, it's not important) and won't hear from any of the "latters"