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Robert Kiyosaki, Rich Dad , Oh where did he go ?
10-19-2018, 01:58 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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Robert Kiyosaki, Rich Dad , Oh where did he go ?
All the recent threads about Suzy Orman made me curious about another talking head - and I found this: his co. is no longer in business - maybe I missed it last year.
https://thecollegeinvestor.com/4726/...ys-bankruptcy/
Geez, look at the fees for his education materials.
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10-19-2018, 02:16 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,000
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__________________
Numbers is hard
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10-19-2018, 02:22 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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Hehe, yeah never take financial advice from broke people!
What a sham, what a scam. "Get rich flipping houses using other peoples money"
These guys are still on the radio out here, amazing.
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10-19-2018, 03:27 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 7,271
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Quote:
Originally Posted by RobbieB
Hehe, yeah never take financial advice from broke people!
What a sham, what a scam. "Get rich flipping houses using other peoples money"
These guys are still on the radio out here, amazing.
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And we still loan to some of those flippers. The ones to whom we do hard money loans buy really really smart, have great contractors, knock out the upgrades/repairs fast, stage well, and price reasonably. They sell quickly and probably make $50-$70k per house. They are sharp and work hard; we are content backing their play.
__________________
"Be kind whenever possible. It is always possible." Dalai Lama
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10-19-2018, 04:21 PM
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#5
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Recycles dryer sheets
Join Date: Jul 2016
Location: Cypress
Posts: 172
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Quote:
Originally Posted by calmloki
And we still loan to some of those flippers. The ones to whom we do hard money loans buy really really smart, have great contractors, knock out the upgrades/repairs fast, stage well, and price reasonably. They sell quickly and probably make $50-$70k per house. They are sharp and work hard; we are content backing their play.
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Calmloki, I am fascinated by hard money lending. I would like to pull out rentals and just do notes or hard money lending. Any recommendations for a place to start. I'm in the greater Houston area. Not sure if location makes a difference on lending as it does for hard RE.
Cheers and thanks for any responses.
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10-19-2018, 04:23 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Posts: 1,934
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Flipping houses is the opium of the people.
Just my $0.02.
Can't stand Suzy but I actually like Kiyosaki. He helped turn on the light bulb that allowed me to FIRE.
__________________
And if I claim to be a wise man, it surely means that I don't know.
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10-19-2018, 04:50 PM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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Quote:
Originally Posted by calmloki
And we still loan to some of those flippers. The ones to whom we do hard money loans buy really really smart, have great contractors, knock out the upgrades/repairs fast, stage well, and price reasonably. They sell quickly and probably make $50-$70k per house. They are sharp and work hard; we are content backing their play.
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Interesting. Yeah I imagine if you knew what you were doing and had the right help lined up you could make a lotta dough.
I'm also sure that doesn't include 98% of the wanna be's that pack the "free seminars"
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10-19-2018, 04:57 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Jun 2016
Posts: 4,655
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Quote:
Originally Posted by griffithee
Calmloki, I am fascinated by hard money lending. I would like to pull out rentals and just do notes or hard money lending. Any recommendations for a place to start. I'm in the greater Houston area. Not sure if location makes a difference on lending as it does for hard RE.
Cheers and thanks for any responses.
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Location does matter for hard money loans. I’m in So CA and the guy I use only works with lenders in CA. Hard money lending has worked well for us as one part of a diversified portfolio.
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10-19-2018, 05:00 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 7,271
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Quote:
Originally Posted by RobbieB
Interesting. Yeah I imagine if you knew what you were doing and had the right help lined up you could make a lotta dough.
I'm also sure that doesn't include 98% of the wanna be's that pack the "free seminars"
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I totally agree with you.
__________________
"Be kind whenever possible. It is always possible." Dalai Lama
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10-19-2018, 05:06 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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We do not watch TV unless we are up in our high-country boonies home where there's no broadband Internet. There, I turn to satellite TV for entertainment, and watch a bit of HGTV. I like the Flip Flop couple's show. It seems they know what they are doing, and the money they spend on some big and extensive renovation is a lot less than what I think I would have to spend. Don't know if there's any flim-flam on the accounting, but I am impressed taking at face value their monetary results of each project.
But back on the question "Where did Kyosaki go", lemme post a Youtube song for a break.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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10-19-2018, 05:45 PM
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#11
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gone traveling
Join Date: Mar 2015
Posts: 3,508
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Quote:
Originally Posted by NW-Bound
But back on the question "Where did Kyosaki go", lemme post a Youtube song for a break.
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Thanks - now I've got Pete Seeger in my head...
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10-19-2018, 05:50 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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It’s 2 for 2 for me. I never liked Suze nor Rich Dad, Poor DAd, or now bankrupted dad.
__________________
Just another day in paradise
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10-19-2018, 06:30 PM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 7,271
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Quote:
Originally Posted by griffithee
Calmloki, I am fascinated by hard money lending. I would like to pull out rentals and just do notes or hard money lending. Any recommendations for a place to start. I'm in the greater Houston area. Not sure if location makes a difference on lending as it does for hard RE.
Cheers and thanks for any responses.
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We kinda fell into it - was making payments and told the little escrow company we wanted to be on the other side. Started making smallish loans through the private escrow company. After some years and a number of mistakes that cost a bunch we kept running into the same several people when we went out to do eyes-on inspections of properties we might loan on. Now we pretty much just loan to them or through them.
Hard money gratifies our real estate urges and pays well - mostly. Having to foreclose has been rare, which is good, because it is expensive and painful. A company that was handling our money at one point evaporated, taking more than a year's worth of our living expenses with them. Making loans only on commercial enterprises feels better than loaning to widder women and Bob Cratchit's family.
__________________
"Be kind whenever possible. It is always possible." Dalai Lama
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10-19-2018, 07:17 PM
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#14
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Recycles dryer sheets
Join Date: Jul 2016
Location: Cypress
Posts: 172
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Quote:
Originally Posted by calmloki
We kinda fell into it - was making payments and told the little escrow company we wanted to be on the other side. Started making smallish loans through the private escrow company. After some years and a number of mistakes that cost a bunch we kept running into the same several people when we went out to do eyes-on inspections of properties we might loan on. Now we pretty much just loan to them or through them.
Hard money gratifies our real estate urges and pays well - mostly. Having to foreclose has been rare, which is good, because it is expensive and painful. A company that was handling our money at one point evaporated, taking more than a year's worth of our living expenses with them. Making loans only on commercial enterprises feels better than loaning to widder women and Bob Cratchit's family.
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Never thought to approach the escrow company. Interesting. Thanks for the data points. Cheers
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10-19-2018, 09:52 PM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,806
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Quote:
Originally Posted by calmloki
And we still loan to some of those flippers. The ones to whom we do hard money loans buy really really smart, have great contractors, knock out the upgrades/repairs fast, stage well, and price reasonably. They sell quickly and probably make $50-$70k per house. They are sharp and work hard; we are content backing their play.
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After they do that a few times, do they still need to get outside financing?
-ERD50
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10-19-2018, 11:11 PM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 7,271
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Quote:
Originally Posted by ERD50
After they do that a few times, do they still need to get outside financing?
-ERD50
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Strange to me, but they do keep coming back to us.
__________________
"Be kind whenever possible. It is always possible." Dalai Lama
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10-20-2018, 06:46 AM
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#17
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Thinks s/he gets paid by the post
Join Date: Sep 2014
Location: The Great Wide Open
Posts: 3,779
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Quote:
Originally Posted by Onward
Flipping houses is the opium of the people.
Just my $0.02.
Can't stand Suzy but I actually like Kiyosaki. He helped turn on the light bulb that allowed me to FIRE.
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I bought several of his books, they were also motivational for me. I always do my DD with any financial huckster.
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10-20-2018, 07:39 AM
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#18
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Thinks s/he gets paid by the post
Join Date: Jun 2017
Location: Western NC
Posts: 4,600
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Kiyosaki is just another "power of positive thinking" guru.
As critics point out, he made his money via books and speaking fees (primarily to Amway members)
Going to the local library to borrow Dale Carnegie or Napoleon Hill books would be a better and cheaper approach if you want something in that vein.
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10-22-2018, 02:53 PM
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#19
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Full time employment: Posting here.
Join Date: Jul 2010
Location: San Francisco
Posts: 858
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Quote:
Originally Posted by ncbill
Kiyosaki is just another "power of positive thinking" guru.
As critics point out, he made his money via books and speaking fees (primarily to Amway members)
Going to the local library to borrow Dale Carnegie or Napoleon Hill books would be a better and cheaper approach if you want something in that vein.
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I seriously hated his books, I read Rich Dad, Poor Dad many years ago and was really amazed that it had so many boosters. It was just pages of gibberish and silly graphs, with literally zero actionable advice. I finished it and went back to sticking my investments in index funds. I read a second one since with all the hype there must be something to it, and no, nothing actionable in whatever the second one I read was either.
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10-22-2018, 03:08 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,962
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Wow. I was never really impressed with that guy. Didn't he and Trump had a business partnership together ?
Quote:
Originally Posted by Lakewood90712
All the recent threads about Suzy Orman made me curious about another talking head - and I found this: his co. is no longer in business - maybe I missed it last year.
https://thecollegeinvestor.com/4726/...ys-bankruptcy/
Geez, look at the fees for his education materials.
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__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
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