RICH DAD on the way. - Posted by Dawoud

Real Estate Investing
1

Posted by TC on December 31, 1998 at 12:25:48:

I started the book two days ago and down to last chapter.I grew up poor and can relate to the book very well.My father was an alcoholic,ran his own bussiness.I did learn from him on the good and bad and the ugly.My father had a friend who also had a bussiness and did very well with (unlike my father),gave me a JOB and taught alot different (was also an alki).They have both been on the wagon for several years now.My father is living off of SS now and the other is doing very well in bussiness.
I would not trade the experience.I still love my father and respect the both of them very much.

I have worked in self employment successfully for about 18 yearsand have three children and I am teaching from my learnings.
Who knows,maybe each generation will keep getting better!

TC

2

RICH DAD on the way. - Posted by Dawoud

Posted by Dawoud on December 30, 1998 at 15:11:11:

This is to say thanks to everyone, for opening my eyes to
Rich Dad Poor Dad. I’v just completed the book, and will
apply the knowledge. By the way, anybody Lonnie Dealing in
South Carolina ? I found out we can do only 4 Deals a year
without having a license. I’ll be recieving the dealer packet in a few days. I’ll be sure to keep everyone posted.

MAN I LOVE THIS SITE. Go after those assets in the new year,
and for the whole year “PARTY LIKE IT’S 1999”. REAL ESTATE
INVESTING what a game.

MAN I LOVE THIS SITE

3

Re: RICH DAD on the way. - Posted by milNC

Posted by milNC on December 30, 1998 at 18:09:46:

one of my NC buds said he got the insurance dept
to allow him to be a dealer without having an out-of -home- office, because he has no inventory. Now, who would have imagined the dept of insurance?
It’s 5 deals in NC. Some states it’s
one and some it’s 12.

Every state is different. The people in guv agencies are unfamiliar with types like us. This can
be frustrating, they will say, well, tell us what you
want to do and we will tell you if you need a license.
Or you call DMV Dept Motor Vehicles and they never heard of what you ar talking about. You just have to keep on trying. Every state is different.

Rich Dad is a good book, but he never once honors his
own father. I could not understand that.

Also, He lets Rich Dad pay him next to nothing. He never dicusses it with his Dad. Is the point that he as a child has no choice
because he is so insignificant and so poor?

He never negotiates the 10 cents an hour he is paid, and he is never offered another choice. He does not know how to negotiate, so he is in a take -it- or- leave -it position. The Rich Dad never teaches him how to negotiate,he just keeps on paying him poorly.
Is that the unspoken message?
Be the hammer, not the nail? I suppose ultimately that is it–that the one in power can make you do–whatever–
for 10 cents, and that if you are an employee, you will
never be treated fairly. well, the book didn’t get into that. It never addressed what was going on with the child, but only that his own father worked for a salary, and the businessman dad invested. I have no argument against the fact that the way we invest is better. I read the book and kept wondering if there was going to be a “father and child reunion” but it never
came. I think the 'Poor Dad" could have done just as
well to invest aggressively whilst being a professor
or whatever. I shiver to think how life would be if we were all alike. Yet, because of our creative RE we are able to fund our other creative interests.

Once you get your dealer pack, post again…maybe you
can still be a home - based business–be a dealer from your home if you find what agency to go through. Had I not been helped by this board (sorry, I don’t want to log off this page to find your name, but you know who you are, and I thank you very much) I would not have known that I could fight this, or at least it would have taken much much longer to figure it out, make the phone calls, or even know that it was do-able.

4

Re: DJ? I thought NC was different - Posted by Jan

Posted by Jan on January 04, 1999 at 22:38:04:

You said only five deals per year? I thought there was no limit in NC. I think I’m pretty confused. So much info!

5

Re: RICH DAD on the way. - Posted by David Alexander

Posted by David Alexander on January 01, 1999 at 19:21:03:

How about this. My Dad as I was growing up was an alcoholic(He no longer is). I on the other have chosen
not to drink for the most part. Is it disrespectful because I don’t want to be like my Dad. My Dad is also poor, is it disrespectful that I have chosen not to be like him in the financial since. Because you see
a different or better way doesn’t make it disresptectful. This book was about finance. I am sure he picked other qualities from his dad that were
not about finance and if he were writing a book about
character, education etc. you would see his dad in a good light. The book is only talking about one facet
of life, Finance. By the way I got alot of great qualities from my Dad, far more good than bad.

David Alexander

6

Your thoughts and widsom are refreshing… - Posted by Mark R in KCMO

Posted by Mark R in KCMO on December 31, 1998 at 19:17:09:

MilNC,

As you read the book, and saw the concepts presented, were they so different to your world that the ideas and the answers to your questions were not noticed?

We all have choices, and that is what makes discussions about different life styles and choice so wonderful.

When I read about your, thoughts, and ideas on a book that I thought were clearly expressed, and these same words were seen from a totally different light, I am pleased.

It pleases me to know that the world is filled with different people. Many with ideas and desires totally different then my own.

As you read these words, and feel great comfort in the knowledge that your choices are what make you you.

Just as my choice make me who I am.

If you were to tell me that someone would read Rich Dad, Poor Dad, and come away that he didn’t respect his father, I would not have believed it possible.

If you would have told me that people could read this book, and choosen to follow the Poor Dad examples, I ask why choose poverty?

There are no greater shackels than one places on thier own mind.

You show your heart well, your convections are stong, you choices are without question. The Life you choose is of your own making and you have well earned where you are, where you are heading, and where your destiny is complete.

When people ask me why aren’t more people doing what you are doing I have to tell them I do not know.

Thoses answers are now clear…

I have been blinded by opportunity to see defeat.

I am deaf to the words of doubt and dis-belief.

Feelings of despair are not able to pierce my heart.

These truths are what create great fortunes, opportunities, and peace and comfort.

There is no better gift than the one that you gave.

The one of the glimmer into what life looks like from the across they way.

Thank you for sharing and I know that you will find what you are looking for.

Mark R in KCMO

7

I must respectfully disagree… - Posted by Soapymac

Posted by Soapymac on December 31, 1998 at 10:12:00:

with some of the points you make about the book “Rich Dad, Poor Dad.” I am not trying to put you into a corner…just looking at it from a different set of eyes.

“…he never once honors his own father. I could not understand that.”

He DOES honor his father…by writing about him, and what he learned from him. Nowhere in the book did I find Mr. Kiyosaki “dissing” his natural father. I would submit that he knew his father very well…and learned from him. What father would not want his son learning by his example?

His biological father held a view that was different from his friend’s dad…and Mr. Kiyosaki was capable enough to discern what BOTH DADS were teaching him. To me, that brings honor TO BOTH DADS.

“He lets Rich Dad pay him next to nothing. He never dicusses it with his Dad.”

You might want to re-read that section of the book again. Seems to me that he and his natural father had quite a discussion about that.

“Is the point that he as a child has no choice because he is so insignificant and so poor?”

No, again. Look at the discussion Mr. Kiyosaki has with himself about this very fact.

Your last, long paragraph suggests to me that you read the book superficially…and what you stated are your impressions. I am going to suggest a method of reading the book that will, by the time you complete the process, give you complete ownership of the material he is presenting.

  1. Read the book through just to get the flavor of it. (This you may have already done.)

  2. Read the book again. This time go through and highlight or underline the things that “jump” out at you.

  3. Read the book a third time…only this time just read what you highlited. By this time, you should “own” the ideas presented.

Last point and I’ll get off my soapbox (another reason for my moniker of Soapymac.) Some of the questions you ask in your last paragraph Mr. Kiyosaki recognizes he did not thoroughly address in this book. That is why he wrote “The Cash Flow Quadrant” — a book that is due for release in the Spring of 1999.

He may have it at convention.

Cordially,

Soapymac

8

Re: RICH DAD on the way. - Posted by CTChap

Posted by CTChap on December 31, 1998 at 24:52:08:

I think the unspoken message here that the author was trying to get across was that given a situation that you are not happy with or have no control over(10 cents an hour), should make you look at other opportunities that can better your situation.
In this case he found that he could make more money if he used the comic books in a library and charged the other kids. He probably would not have seen this had he been even mildly satisfied with his salary.

CTChap

9

Re: Your thoughts and widsom are refreshing… - Posted by MilNC

Posted by MilNC on December 31, 1998 at 21:40:41:

Thank you for your response… I feel we had a miscommunication. Your post contains many thoughts deserving of long reflection that I did not realize at first reading. Still, perhaps you don’t know what my world is, neither do you fully understand my choices.
I find your response to me as odd as you found mine to the book!
I merely thought that the author had not “fleshed out” the character of PoorDad to the extent that he
had the Rich Dad. I don’t dispute the lessons provided by Rich Dad–I just don’t recall, and kept expecting
in my reading, a similar weight as to Poor Dad contributions, but it was not forthcoming. As the book progressed, Poor Dad never got his due–I kept waiting. As Soapymac pointed out, I may have missed a few parts, but,honestly,
I was waiting and waiting.

I support the ideas presented in the voice of Rich Dad.
I have spent many years in the Poor Dad vein, and defend my change to the Rich Dad sector, as I do not have the luxury of being in the Poor Dad realm.

I was raised by “Poor Dad” parents, who for ever, were never pleased unless I pursued their formula. Somehow,
it just never worked for me. I was more than delighted to find this board that finally put to rest the concept that my only hope in life was to buy a house and wait for 30 years for it to appreciate, and meanwhile work 2 jobs to make it happen. They both had gov’t jobs with no possibility of getting fired, they had tenure, and I was the “odd” one. It was as if I had a character defect because I had no tenure. Be strong… Ha! Be fired–that’s reality. It’s easy to “be strong” when you can’t be fired. I wasn’t able to “stand up” therefore there was something wrong with me. Brave talk! (Don’t people write blues lyrics about these things on a regular basis?)

(thank you JP and Terry for this board!)

My comments were more on the literary style of the book, not whether investing is a good idea.

My uncle, when he was 19, had a hotdog stand in a gas station for two years, and slept in the back of the store, and then
got married and then after that, they both slept there. He invested in
the stock market. That was a long time ago. Later, he opened a restaurant. Later, he was a millionaire from the stock market. (I just feel better with real estate.)
He never graduated from high school, but studied all the time, because he loved learning. He got a degree in biochemistry at age 52, not because he had to, but because it was fun. He learned 2 foreign languages on home study and through language clubs in his town.He showed me how many aspects of life a person could be involved in. And I want to invest in real estate in order to “fund” all of my many interests, because, for sure and for certain, my former career never could.
His memory is a beacon to me. I am in school now-with the courses from this site. That is how I spend my off hours. I consider it equal to a full time job.

Were it not for this board, I would be floundering
about for mutal fund investments and the like, and would have no idea of other possibilities. I was quite limited, but now I feel I have access to a wealth of
information that I CAN understand. From all the articles on this site, the wealth of informatin of the posts. and the general helpful tone of the posts, it’s
a great resource.

Respect all people.

10

Re: RICH DAD on the way. I agree with that!!! - Posted by Doug Jones

Posted by Doug Jones on December 31, 1998 at 05:58:41:

I agree. I was never taught much about business myself.

I was taught to WORK hard, which I totally appreciate

my Dad teaching me that.

It is still HARD work to keep

making the phone calls and setting up deals, as much work, sometimes, as fixing up a house.

Either way, I’m glad that I was taught to work. I was

outside yesterday making my 3 kids work, too!

DJones in Sunny Tampa

11

Re: Your thoughts and widsom are refreshing… - Posted by David Alexander

Posted by David Alexander on January 01, 1999 at 19:28:20:

I posted to an earlier post you had not realizing you were talking about the literary style of his book.
Think about this, He says in his book that he talked
with a writer and she was mad that he sold so many books because she was a better writer. He said he was a better marketer. I agree his writing is not great
but, he get his point across in a clear cut way about how you should handle finance.

David Alexander