John Reed's Critique of Real Estate Gurus

[WORKEROUTER]

Interesting.

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


"Robert Kiyosaki (Rich Dad Poor Dad)---I do not recommend
I was told I would like this guy. His book was #1 on the Business Week best seller list. Eager to find another guy to recommend, I bought his book Rich Dad, Poor Dad in a bookstore and read it.

This is one of the all-time worst financial books ever written! I was so disturbed by it that I wrote an extensive review of it."

Another quote from this page:

"Kiyosaki is hurting people
This man is doing damage. I got an email from a surgeon. Her 17-year-old son read Rich Dad Poor Dad and now does not want to study or go to college. He just wants to get rich and believes Kiyosaki’s pitch that education is a waste of time. He now puts down and criticizes his mom for not being richer. I never knew a surgeon who was fighting the pigeons for something to eat. And this particular surgeon says she finds her profession extremely rewarding in non-monetary ways as well.

Another guy wrote from Israel. He got so pumped by Kiyosaki’s books that he told his boss off and quit his job. Now he is unemployed and hurting and wrote to thank me for this page, but to lament that he did not read it until it was too late.

If I do not try to set the record straight, who will? Almost everyone but me is either unqualified or unwilling to say anything. See Why I created and maintain this Web page for some comments on why I am unwilling to sin by silence when I should protest."


from http://www.johntreed.com/Reedgururating.html#anchor529971

Finally, here is a list of Reed's material. From reading some of his site, he seems to offer truthful advice about investing and is not trying to sell people scams or create false hopes.

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

 

[Shiftkey]

Rich Dad Poor Dad is not a financial book, it is a motivational book. John Reed obviously hasn't read the book either, because Kiyosaki RECOMMENDS getting an education and has one himself.

Reed is a loser who makes money by putting other products and authors down, appearantly commiting libel to do so. He's nothing but a crooked salesman.

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

 

[Bible_Belt]

I was just about to say the same thing. What a jacka55 this guy is:

Beginners sometimes ask if they should subscribe to my newsletter, Real Estate Investor's Monthly. The truthful answer is yes, but I find that a lot of beginners whine about the price. It's $125. If that's a lot of money to you, do not subscribe.

 

[Francisco d'Anconia]

That's what happens when you just take the word of someone else without making an effort to find out for yourself. I bet that's why there aren't more millionaires in the world.

 

[diplomatic_lies]

People who read a book on wealth then instantly quit their jobs or drop out of college are dumbasses, and deserve what they get.

Whatever happened to planning?

 

[LowPlainsDrifter]

I have a really good business now that I built gradually over the course of about five years.

I started by doing it *part time* while working at a fulltime job that paid fairly well and had good benefits.

When the job left me, I turned my part-time endeavor into a fulltime business that I've done really well with.

 

[MetalFortress]

John Reed is a "real estate guru" who owns all of 3 properties. This man is a retard who is slamming others to sell his own book.

 

[Egoist]

does anyone actually take clowns like kyosaki or reed or any other of the so-called gurus seriously?

funny ****.

 

[STR8UP]

Originally posted by MetalFortress
John Reed is a "real estate guru" who owns all of 3 properties. This man is a retard who is slamming others to sell his own book.

Yea, if you have to resort to slamming the competition to sell your own stuff you must not have a very good product.

 

[STR8UP]

Originally posted by Egoist
does anyone actually take clowns like kyosaki or reed or any other of the so-called gurus seriously?

funny ****.

Yes, and with results to prove it.

 

[Egoist]

Originally posted by STR8UP
Yes, and with results to prove it.

well if a million idiots try, i am sure that a couple will be successful to a measure.

i've yet to see a successful person who followed either one. as far as i am concerned, Napoleon Hill is still the best when it comes to motivating business success. the others are just wannabes.

rich dad poor dad is the worst business motivational book that can be summed up in one sentence: "wealth is created by owning a business or generating passive income from investments"

 

[Derek Flint]

Originally posted by STR8UP
Yea, if you have to resort to slamming the competition to sell your own stuff you must not have a very good product.

Sounds like Ross Jeffries.

 

[STR8UP]

Originally posted by Egoist
well if a million idiots try, i am sure that a couple will be successful to a measure.

So just what is "successful to a measure"?

No, if a million "idiots" try this every single one of them will fail. But if you aren't an idiot and apply the principles CORRECTLY you will almost always succeed.

rich dad poor dad is the worst business motivational book that can be summed up in one sentence: "wealth is created by owning a business or generating passive income from investments"

You sound like one of those book critics who gets paid a salary to write a review, probably doesn't even know what an asset is, yet somehow feels qualified to discount the advice of anyone who teaches anything but conventional financial "wisdom".

In other words, unless you know the RIGHT way to do it, don't try telling anyone else that certain things are WRONG.

 

[Francisco d'Anconia]

Originally posted by STR8UP
So just what is "successful to a measure"?

No, if a million "idiots" try this every single one of them will fail. But if you aren't an idiot and apply the principles CORRECTLY you will almost always succeed.



You sound like one of those book critics who gets paid a salary to write a review, probably doesn't even know what an asset is, yet somehow feels qualified to discount the advice of anyone who teaches anything but conventional financial "wisdom".

In other words, unless you know the RIGHT way to do it, don't try telling anyone else that certain things are WRONG.

Plus anyone who has read his books knows that "Rich Dad" is not a book about real estate. He defers the actual real estate information to his advisor Dolf De Roos.

 

[Bonhomme]

Do-able, but VERY difficult

Making a real estate empire from humble beginnings is do-able, but very difficult, unless you're working with a good income from your day job and/or a LOT of money and/or cheap credit straightaway. Otherwise, everybody would be doing it.

I've done some real estate investing without much money or work income of my own to work with, and it's anything but easy, unless you really have lady luck on your side.

Where the real estate gurus are dead wrong is pitching it to seem easy. But if they told the truth, they wouldn't sell so many books.

Rule #1: don't quit your day job.

 

[Shiftkey]

I don't know of one RE guru who says investment is EASY. Many say it's simple, but there's a big difference between simple and easy. A good analogy I read (I think by Russ Whitney) is pushing a car for a mile in a straight line. Simple, yes; easy, hell no.

 

[Francisco d'Anconia]

Originally posted by Shiftkey
I don't know of one RE guru who says investment is EASY. Many say it's simple, but there's a big difference between simple and easy. A good analogy I read (I think by Russ Whitney) is pushing a car for a mile in a straight line. Simple, yes; easy, hell no.

Good analogy.

 

[sifer]

Originally posted by Egoist
does anyone actually take clowns like kyosaki or reed or any other of the so-called gurus seriously?

funny ****.

Actually I do. Clowns like you work for me.

I'm too lazy to work in the winter, how much do you want?

I made a thread on John T. Reed, do a search people. I've also done a small extensive research, John T. Reed has been sued several times himself and was in the Taxpayer's Compliance Management Program. It's basically an audit because the IRS suspect you tried to screw or exaggerate something on the tax form.

I am not too sure of the outcome but with someone like John T. Reed, he probably came out fine while the IRS keep a closer look to him.

Yes, the blind leading the blind. At least Robert Kiyosaki helped millions, John T. Reed only hurt more people by putting them down and teling them "you can't do it, it's not possible, there are other ways to do it", the pessimistic ideas.

Sounds like Ross Jeffries.

Yes, on the basis of hypocrisy too. This is why I hate PUA. Not the people, but the material presented by the likes of Ross Jeffries.

well if a million idiots try, i am sure that a couple will be successful to a measure.

i've yet to see a successful person who followed either one. as far as i am concerned, Napoleon Hill is still the best when it comes to motivating business success. the others are just wannabes.

rich dad poor dad is the worst business motivational book that can be summed up in one sentence: "wealth is created by owning a business or generating passive income from investments"

Maybe you are too egotistical for your own good.

A million idiots? Where did you get the statistic from? Napoleon Hill is as good as Robert Kiyosaki if you apply whatever they teach, besides, Napoleon Hill's message is much the same as Rob's, from that, school is useless, (read the intro of Think and Grow Rich, he even puts up a disclaimer so he doesn't get criticize for downplaying school, I don't blame him for wanting to protect himself for unneeded controversy) and to that "do what you must do, to get there".

Wannabes? Why? People want to help and you're saying "they're just wannabes". If I had to say, what have YOU done?

Making a real estate empire from humble beginnings is do-able, but very difficult, unless you're working with a good income from your day job and/or a LOT of money and/or cheap credit straightaway. Otherwise, everybody would be doing it.

I've done some real estate investing without much money or work income of my own to work with, and it's anything but easy, unless you really have lady luck on your side.

Where the real estate gurus are dead wrong is pitching it to seem easy. But if they told the truth, they wouldn't sell so many books.

Rule #1: don't quit your day job.

Rule #1: Quit your day job. I can't say much, I never had a job in my life so maybe a job would be nice but from the complaints I hear all the time.. not too sure.

Besides, show me where a guru ever said it was easy? They might have said "call this institution up and you can get this percentage! It's that easy to get this [X <---insert whatever it is the guru is focusing on]".

But even then, I've never seen that.

But you know, I remember speaking to a person who invested in 2 properties and had a cashflow on both of them. He was like you, he said "it was anything but easy, keep your job, this is hard work, all the toilet working, all the paperwork, all the walking" and you know, the next thing I know he went home driving Lexus and constantly tried to be funny and tried too hard to crack a joke. So on one hand he tried to look like he's a hard working man, he is trying to discourage me from investing (I don't blame him, I mean who wants competition?), and on the other, he lived a good life, had a family, two kids who are homeschooled, and a beautiful (<--- yuck, not my wife hehe) wife.

I don't know of one RE guru who says investment is EASY. Many say it's simple, but there's a big difference between simple and easy. A good analogy I read (I think by Russ Whitney) is pushing a car for a mile in a straight line. Simple, yes; easy, hell no.

Me neither, and I've been in this field for many years since I was a young'n.

I never heard of one guru that ever said, "GET RICH QUICK EASILY AND SIMPLY WITH REAL ESTATE OVERNIGHT, YOU CAN LIVE IN HAWAII AND OWN YOUR OWN PLANE OVERNIGHT TOO! JUST BUY THIS PRODUCT". I have seen people say that and have never proved it. Your perception of one thing can easily be exaggerated by your persona.

If so, show me, I'm willing to see for myself.

By the way, BEAUTIFUL analogy.

 

[JonJack]

I think it's obvious that the percentage of people that actually becomes successful and content because of what they get from gurus is incredibly small. If this was actually stated clearly by all the gurus, they would be out of business. I doubt there's a specific number, but I figure it's no where near 30%.

Although the advice being given is usually sound, the manner in which it is done is very misleading. Most of the famous gurus have been in the motivational business for years and they are clearly aware of this fact.

The general human population is unfortunately very lazy and prefer the easy way out of their miserable lives. That's why no one can make lots of money catering only to the hardworking people with lots of intitiative and drive. Besides, these hardworking people with initiative don't really need advice from gurus on becoming successful.

If a person spends thousands of dollars on books, seminars and tapes on becoming rich and successful, does that mean that success is easy? Or is it just simple?

 

[sifer]

Good points.

Originally posted by JonJack
I think it's obvious that the percentage of people that actually becomes successful and content because of what they get from gurus is incredibly small. If this was actually stated clearly by all the gurus, they would be out of business. I doubt there's a specific number, but I figure it's no where near 30%.

Get a specific number and then come back. It's much more accurate and fair that way.

Although the advice being given is usually sound, the manner in which it is done is very misleading. Most of the famous gurus have been in the motivational business for years and they are clearly aware of this fact.

Most advice are misleading to those who don't do their research of studies. I'll be perfectly honest, my perception of what's taught is exactly the same as that of what is supposed to be in real life, however, the concept is the same as taught by the guru, only the employment of such technique differs. This means this basically, did you ever do anything on law? You go to a district court or somewhere because you want to file in something.

A guru gives you the generic papers, you just have to tailor such paper to your state, which is why they say gurus are misleading, because the state differs in terms of what is needed and what is not. However, this is exactly why gurus also put a disclaimer, that you MUST talk to a lawyer or else you can't hold the guru accountable.

Besides, these hardworking people with initiative don't really need advice from gurus on becoming successful.

You know, I like the sound of that, but personally yea, I think sometime you need the advice. Actually I had someone walk me through when I got to my second investment. It was because I had tried something new from what I did in the first investment. So I personally think you need just a tad bit of info. I don't know anyone who went into the field blank, I don't think anyone did. Andrew Carnegie admitted that he knew nearly nothing about steel yet owned the steel industry. And hence the word, nearly. He knows a bit.

If a person spends thousands of dollars on books, seminars and tapes on becoming rich and successful, does that mean that success is easy? Or is it just simple?
Neither, the books, seminars, and tapes should help. If you went to a bank, the book or seminar should tell you what to do. Personally I relied on books back then, I would carry a book on a certain subject. Example, let's say I was going to go negotiate with someone. I would carry a good book on negotiation and read on it before I did it. Worked for me.

Success is easy and simple, OR hard and complicated, it's like beauty, it's in the eye of the beholder. I actually met someone who graduated Ph.D in computer science and he worked in the corporate world, and quit a few later on because he got bored and found it useless (think Fight Club). He played stocks and became a millionaire. He said life was too simple, college was easy, and stocks was too easy. I believe him, after seeing him enjoy life in Michigan, California, and New York.

Personally I think it's ok, not too bad, hey, no high school degree and I managed to pull it off without difficulty, I absolutely should love it but you know, I'm pretty lazy myself.

:crackup: