1st Product Name: Rich Dad Poor Dad Investing Cash Flow System Webinar
2nd Product Name: Rich Dad Real Estate Cashflow Blueprint
Product Owner: Robert Kiyosaki
What Is It?
The Rich Dad Poor Dad Real Estate Investing Cash Flow System Webinar is a one-hour webinar featuring Robert Kiyosaki. Kiyosaki is the author of bestselling book Rich Dad, Poor Dad and many others within this series, as well as the founder of the Rich Dad Company focusing on “elevating the financial well-being of humanity.” The webinar is an hour-long introduction to real estate investing to boost cash flow.
The Rich Dad Real Estate Cashflow Blueprint Program is a training program that leads students, step-by-step, through how to purchase one income-producing property within a year.
The webinar is free. While a tad on the salesy side, it is worth the watch if you’ve never been introduced to the Rich Dad Poor Dad concepts before, or if you have and would like a refresher.
The Rich Dad Blueprint Program costs $395 USD and is much more time intensive. Personally, I wouldn’t spend this money on it, but it depends on what kind of learner you are and where you’re at in your investing journey if you want to make that plunge.
Before You Buy
As mentioned above, the webinar is free. I’d recommend watching it regardless of whether or not you plan on purchasing the Blueprint program because it is a good introduction or refresher on the Rich Dad idea.
As a heads up, the Rich Dad seminars (particularly the in-person real estate seminars) have garnered a pretty rough reputation over the past decade. In-person free workshops are hosted, and educators try to continually upsell attendees to increasingly more expensive seminars after that.
I have personally never attended one of these seminars, and strongly advise against investing thousands of dollars on programs/seminars unless you have done all of your research and vetted the program first. Never make a financial decision based on one person’s opinion alone (especially that of a really smooth marketer at a seminar designed to drum up more business).
My reviews below of the webinar and Blueprint program are solely based on what I have learned through my attendance and research, but please do not get sucked into an upsell spiral.
My Thoughts on the Webinar
- Think like the rich
- Things such as saving money, cutting up credit cards and avoiding debt are NOT the things you want to do if you want to build wealth
- Minimize liabilities and acquire assets
All of these secrets point towards the benefits of real estate investing in particular as a vehicle to wealth.
What I Liked
Whether you’re familiar with and/or like Kiyosaki or not, I think he has some really fair points and good reminders for real estate investors (budding and established alike).
The hour-long webinar is a decent recap of the above three cashflow “secrets” and is a reminder why you need to stay motivated and adaptable when investing.
For the amount of time and money (i.e. one hour and $0) that this webinar takes, it’s worth watching, especially if you are:
- New to the Rich Dad concepts
- Thinking of real estate investing; or
- Established in real estate investing (in this latter case, it’s just nice as a motivator and reassurance that you’re doing alright)
If you do watch the webinar, be sure to stay until the end so you can download the free Real Estate Cashflow Blueprint Companion Guide. It’s a light read and a simple recap of the principles discussed in the webinar, if you like to learn through independent reading and review.
What I Didn’t Like
The webinar is ultimately intended to lead people to the Blueprint Program, so it is quite salesy. You could probably do without the first 15 minutes and last 15 minutes, to be honest, but it is what it is. I personally am just not a fan of being so blatantly sold to, and the end of the webinar is full of shared testimonials from people who have used the Blueprint program. Personally, I am always mistrustful of buying products from webinars that share testimonies like this. Are they even real people? Who knows.
My recommendation: make sure you watch the webinar for what it is. A tidbit of information, packaged to make you want to purchase the Blueprint program. When you watch, be mindful of separating the information from the sales pitch and you will leave with nuggets of information here and there.
My Thoughts on Blueprint
The Rich Dad Real Estate Cashflow Blueprint program purports to lead students towards the purchase/ownership of one income-producing property by the end of the year. The program consists of a series of modules to walk students, step-by-step, towards acquiring this property, complete with exercises and worksheets to lead them through this process. The Blueprint program is also bundled with a number of other throw-ins, such as templated forms to help with the process (they say this is to save you from working with an expensive lawyer. My advice: NEVER forgo a thorough legal review, especially when working with real estate!).
What I Like
I am a huge nerd. I am a very process-oriented learner and worker, and enjoy homework (yes, I know, super weird). The structure of the Blueprint program appeals to me for this reason. The idea of having a step-by-step guide towards purchasing an income producing property in a year appeals to me.
Full disclosure, however, is that I personally didn’t fall for the Blueprint program sales pitch, so I can’t speak from the inside from personal experience. I can only say what part of the program appeals to me, and what might appeal to you too if you are that type of learner too.
The Blueprint program does come with a 30-day money back guarantee. Again, I personally didn’t purchase the program, but if you are interested in testing it out and find you’re dissatisfied with the product, they should honour the money back terms.
What I Don’t Like
Aside from winning the lottery, there’s not really a “get rich quick” silver bullet floating around out there hiding behind the next program/webinar you invest in. I personally didn’t like how the Rich Dad Blueprint program was marketed practically as a get-rich-quick scheme.
Another thing I didn’t like was how the webinar suggested the Blueprint program would teach you how you can invest “without using your own money.” There are a lot of sales pitches that say you can build a real estate portfolio without using your own money, however, I question how sound this advice is. In the webinar, Kiyosaki talks about how he believes real estate investment is better than saving or investing in stocks/bonds because there are no other investments that the bank will support to the point of providing 80% of the money (in the form of a mortgage). I agree, and I suppose this is “using someone else’s money” to a certain extent, but any form of investment requires a certain amount of cash upfront too.
With that being said, if you do sign up for the Blueprint program, I’d recommend going in with reasonable expectations.
All in all, I’d say that if you’re interested in Kiyosaki’s cashflow system, watch the webinar. You won’t lose anything other than an hour of your time at most, and may even gain a helpful tidbit or two.
If you like what you hear and you’ve never been introduced to the concepts in Rich Dad Poor Dad before, I’d recommend picking up a copy of the book and giving it a read. Many people have found reading Kiyosaki’s book transformative in and of itself without having to register for any of his programs.
As for the Blueprint program? I personally can’t endorse it, as I think there are a number of other ways to learn about real estate investing rather than investing in a ~$400 program. There are books to read and people you can call (*ahem* like real estate agents *waves*). But if you’ve done your watching and your reading and you’re jonesing to try the Blueprint out, you can sign up for the bundle and discounted deal after watching the webinar.
If you do end up trying it out, drop a note in the comments to let me know how it goes and what your thoughts are. Or drop a note in the comments to let me know what you’ve used to up your real estate investing savvy.