Is Robert Kiyosaki really listed among the "false prophets" of the bubble?

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NickStone_IHB

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<p>I was reading through the housing doom blogs (better than television by no small margin) and have come across repeated comments that put Robert Kiyosaki on the same level as David Lereah. This actually confused me. </p>

<p>My primariy complaint about Robert Kiyosaki is that he has virtually no investment knowledge at all... or at least his books certaintly don't offer any. Now I have only skimmed his books, but nearest that I can tell, I have never heard him talking about Real Estate as the perfect investment that never loses value. In fact, some of his basic works make basic (his works are fairly juvenile) point that your house is an expense, and not an asset, since the house you live in actually reduces your wealth and offers you no income. The most detail I ever read Robert Kiyosaki offer on actually how to make money is that "you should consider telemarketing." (Wow! Let me write that down!)</p>

<p>David Lereah... well his bullsh*t is well known... so no need to go into that.</p>

<p>So here is my question: Is there anyone out there who has acutally read the complete works of Robert Kiyosaki and believes that he deserves to be bunched up with David Lereah? I am honestly asking... since there is an EXCELLENT chance that he may have written something that I never saw. </p>

<p>Side Note: I do know taht Robert Kiyosaki and Donald Trump are quite chummy... and they both like to advertise for eachother. Now, I personally can't stand Trump. I recently received an "invitation" to attend one of his seminars... and in the brochure it actually showed his SON (same haircut, same arrogant look on his face) as one of the guest speakers. Good lord. I can only imagine what he would talk about. "My name is Brad Trump and I would like to talk about being the son of a wealthy man." I must say, that if this bubble bursting actually shuts Trump up (or better yet... gets him into bankruptcy again), it will have all been worth it! I would assume that he is quite exposed to this bubble. He was trying to get into lending recently but I think that went flop. Also, I would imagine the bubble bursting will prettty much take care of the guest speaker circuit at 1 million dollars a pop. So this should be a rough few years for Trump... but I digress.</p>

<p>Back to the original question: Who out there thinks of Robert Kiyosaki as in the same league as David Lereah?</p>
 
From a previous thread: <a href="http://forums.irvinehousingblog.com/discussion/50/3/is-there-any-way-prices-can-appreciate-from-here/">http://forums.irvinehousingblog.com/discussion/50/3/is-there-any-way-prices-can-appreciate-from-here/</a>





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Robert Kiyosaki is bearish on real estate!

<a href="http://finance.yahoo.com/expert/article/richricher/24515" set="yes"><strong>Robert Kiyosaki</strong> Why the Rich Get Richer</a>

<a title="See more articles by Robert Kiyosaki" href="http://finance.yahoo.com/expert/bio/richricher/robert-kiyosaki" set="yes"><img alt="Robert Kiyosaki, Why the Rich Get Richer" src="http://us.js2.yimg.com/us.yimg.com/i/us/fi/pf/images/people/bio_richricher.png" /></a>





Throwing Good Money After Bad

<p>by <a title="See more articles by Robert Kiyosaki" href="http://finance.yahoo.com/expert/archive/richricher/robert-kiyosaki/1">Robert Kiyosaki</a></p>







Posted on Friday, February 16, 2007, 3:00AM



<p>All booms eventually go bust. </p>

<p>We all remember the stock market crash of 2000, and most of us remember the real estate crash after the implementation of the 1986 Tax Reform Act. Today, many people are anticipating another real estate crash. </p>

<p>Unfortunately, despite our understanding of booms and inevitable busts, it's always near the top of a boom that "dumb money" buys in. Currently, this has set the scene for a potential market bust of which few people are aware. I'll describe it today's column, and advise how best to prepare in my next column.


</p>

...(deleted to fit)...

<p><strong>Smart Money, Bad Times</strong>


</p>

<p>The good news is that during deflationary times, smart money reenters the market, so crashes are great for smart people with smart money. Instead of listening to the optimistic economists, then, you should eliminate bad debt and improve your debt-to-equity ratios on good debt.


</p>

<p>Most important, study; if you want to be smart, you need to learn. I'll discuss what you should study in the second part of this column. For now, be aware that if deflation comes and there's a recession, it won't have much effect on the poor. Instead, it'll punish middle-class people who think they're rich because their houses and stocks have gone up in value.


</p>

<p>I'll explain more in a couple of weeks.</p>







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<p>Here is an entertaining read about Kiyosaki that also is posted in the forum that Irvinerenter sites.</p>

<p><a href="http://www.johntreed.com/Kiyosaki.html">http://www.johntreed.com/Kiyosaki.html</a> </p>
 
If you got the flyer from Learning Annex in Los Angeles to attend a seminar with Kiyosaki and Trump, give it a pass. I went and would not recommend bringing your kids along due to the profanities used.





R. Kiyosaki's book actually did a halfway decent job at motivating me off my butt. The book "Rich Dad, Poor Dad" doesn't give you step by step instructions on how to get rich, but it does make the reader think "out of the box" if you had been raised with the "poor dad" mentality (for better or worse, depending on your point of view).
 
I have read "Rich Dad, Poor Dad," and I liked the book. I never considered him some real estate genius, but I guess some do. What I liked about his books was the focus on cashflow. Kiyosaki is not a speculator. He buys cashflow, doesn't over leverage it, and holds on to it. It is the investment strategy of the patient rich. He doesn't tell you how to do it, but he does tell you what needs to be done, and that makes the book worth reading, IMO.
 
nirvinerealtor,





Yes, if properties were cashflowing right now, I would be bullish. They will at the bottom, and I will wish I had more cash to buy some.
 
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