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April 24, 2005

RichDad: Coming bust good for pros, bad for amateurs?

If you attend one of the many RichDad real estate investment groups in New England or around the country, read this quote from one of the leading real estate bubble blogs before making your next real estate move:

Here in Los Angeles there is a huge Real Estate seminar coming up with Trump, etc. On the local news radio channel, ..."Rich Dad" author Robert Kiyosaki plugs his appearance at the seminar by telling the audience that "A real estate bust is good for the professional investor and bad for the amateur." Upon hearing this ad I was amazed at the sea that they would have to undergo to change their advertising. They have seemingly gone from "making money in real estate is easy" to "there's going to be a bust and I will scare you into attending."

Interesting. Verrrrry interesting.

My impression of RichDad's CashFlow game is that the repeated examples of investors making easy money in real estate was misleading and setting "amateurs" up for disappointment.  Can't remember a single scenario where any playing card lost money in real estate.  Guess you have to attend one of the seminars to learn how to protect yourself from that, or participate in their real estate investor groups or their new REI bird-dog forum

Re_birddog_1Alternatively, if you are an ordinary home buyer or seller, you can attend one of The Real Estate Cafe's upcoming "Bubble Hours" to exchange perspectives on the real estate bubble with your peers and learn some defensive homebuying techniques. 

The first "Bubble Hour" is tentatively scheduled for 6:30pm, Thursday, May 5th at the DoubleTree Guest Suites, 550 Winter Street (click for directions), in Waltham just off Route 128.  Please contact us by 11am on Monday, April 25th if you are interested in attending so we have enough time prepare a worthwhile evening.  To do that, can you post questions you'd like addressed in the comments field below?  If anyone knows the answer, fire away now.  No need to wait for May 5th to get some peer-to-peer feedback going.

02:55 AM in Protecting yourself | Permalink


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