Kiyosaki/Trump Revisited

Robert Kiyosaki, Donald Trump and the many other real estate gurus overnight have dated themselves as relics of a bygone era . In retrospect, we see that many real estate investment speakers, seminars and books relied heavily on the pop psychology tactic of overcoming the fear of "doing the deal". The actual details of doing the deal remain as complicated as ever - investors really need to know all facets of the home buying and investment process for consistent success. And frankly, it now seems incredulous that an investor would be able to learn the ropes over a three day workshop.

Any new review about a pop real estate investment guru and his/her work becomes revisionist by definition because they're made in context with the knowledge that boom turned to bust. Brian Brady makes a good point that Kiyosaki is a gifted storyteller who packaged fundamental ideas for mass consumption. Equity Scout's Chris Smith looks closer at how Kiyosaki exploited that window of opportunity by, for example, selling $149 Monopoly-like games, consistent with his "get rich by not being a slave to a job" mentality. Tacky philosophy...

Both their reviews support the fact that the new wave of real estate investor was sold first on the psychology of action and then on the rationale of investment performance. And that in itself is not bad, the boom unleashed a lot of smart investors who otherwise may have not had the guts to see real estate as part of their asset portfolio due to its relatively gargantuan size.

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  • 7/3/2007 6:17 AM Herb Hamilton wrote:
    As long as there are people wishing for the good life without putting in the effort to get there, there will be ample scmucks to be farmed.

    As W.C Fields famous quote about suckers " There is one born every minute " And unfortunately there will always be a new Guru to come along and take advantage of the ne'er-do-well.
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  • 7/4/2007 9:29 PM 4MySales wrote:
    Trump and Kiyosaki are much better at selling themselves than they are at teaching the art of the deal. If an individual is serious about investing in real estate, it takes a lot of research and learning to not get burned.

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  • 7/5/2007 10:57 PM Brian Brady wrote:
    I loved Robert Kiyosaki. He is an engaging storyteller.

    I think Kiyosaki's greatest contribution was his Cash Flow Quadrant. His worst was his investing book. How many of us REALLY get access to pre-IPO stock? You and I, Pat, as former securities brokerage guys have VERY limited access. How is the average guy getting started going to catapault into that realm?

    Your conclusion is correct. He certainly got people to take action and that, in itself, is not a bad thing.
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