Rich Dad Education
Reviews and Complaints
SCAM!!!!
$700 For Hotel Mints & ***
- Paying lots of money for very little useful information
- Promises
- High pressure sales
Preferred solution: Inform Others
Most disappointing seminar
Disgusting bait and switch tactics
My wife and I are interested in getting into real estate investing. Since we are both fans of the "Rich Dad, Poor Dad" book, we figured this would be a great introduction to some basics. Boy was I wrong.
They promise to teach some principals of real estate investing, but most of the time is spent hard selling their mentor programs that range in price from $15k-50k. Most of the first day is spent showing you how to manipulate your credit cards for "free" money. The tactics, while not illegal, certainly dance in the gray areas of ethics.
The most appalling moment was when they passed out a sheet of "partner" lenders and had everyone in the class pull out their phones, go to one of their lenders sites, and apply for credit. They went so far as to encourage us to apply to multiple lenders to ensure everyone had access to the funds to further their "education" . This made me sick to my stomach and the pure sleaze of the staff made me want to take a shower once I left the class.
I'm a business owner and I understand that you need to take risks, including financial ones, to become successful. These tactics that Rich Dad Education employ are shady at best and borderline criminal at worst. They prey on those that are barely scraping by financially by browbeating them into sinking funds that they don't have into a program that is extremely vague in it's description.
I'm out $700 and feel completely ripped off. While being out the money sucks, it's more the flat out bait and switch tactics and preying on the desperate that I find more disgusting.
Trevor Evans is an incompetent moron
I just attended the same seminar. Trevor Evans is *NOT* an excellent speaker.
He is a narcissistic *** who has no idea what he's talking about. I know enough about the subject to know that several things he said were blatantly wrong. He has no idea how amortization works. I've written programs that calculate amortization tables and re-calculate it if you make pre-payments of your mortgage.
(Yes, Trevor, if you pre-pay, they do re-calculate the amortization table, they do NOT cancel the interest for the next month. If you had attended business school, you would have learned this in your very first managerial accounting class in the MBA program, as I did.)
Furthermore, he insulted people - even going so far as suggesting that one student was a bigot because he was on his phone. He said, "If my skin were lighter..." you might be paying attention. Personally, I was on my phone sending a complaint email to the company.
But you shouldn't blame the student if you are such a poor speaker that you can keep the audience engaged. Not only was he a poor presenter, but his attitude, preaching and misinformation caused him to lose all credibility within the first 2 hours.
It is a shame.
Rich Dad seems to have the best product from what I've seen among the competing companies, but I can't buy from them if this is an example of how they vet their instructors. Trevor Evans isn't competent to teach anyone anything except bigotry.
Preferred solution: Full refund
Bad Investment
My sister and I decided to attend the 3 day workshop. There we became motivated and pumped up to get out of the rat race.
After they guided us into opening a total of 5 credit cards to cover the 30k master program we began our journey of stress and started to see that they sold us a dream. The mentor assigned to come out to meet and help us do our first deal " came out and spent the whole time in a restaurant and cut our last day short so that he can take an early flight. Our online live courses where at times cut short and poor connections from the instructors side. Little by little we began to getting in a deeper hole financially trying to send out letters and do our marketing as well as travels for symposiums.
I feel that the program is over priced and they don't really give you what you pay for.
Its unfortunate that we made this wrong investment that will we be paying back for years to come. Many of our peers from the program feel the same way...
Absolute Waste of Time and Money
Unfortunately, I cannot get my money back but if I can help someone else to AVOID this scam that will be good enough for me.
Several of the reps was there and they presented their history with the company to establish relatability with the audience. All information was presented enthusiastically, selling the possibility of success. The ultimate purpose of this was to upsell their real estate workbooks and weekend seminar, which was $300. I purchased the package and was intrigued to see what was in store at the weekend seminar.
After all, I was there to find out about real estate and $300 was pretty reasonable right?? To top it off, you are told that you can bring a guest free of charge (which I fortunately did not do). The seminar took place in a hotel conference room. Upon arrival, I was given a name tag (helps to disarm you when you are called by name).
The presenter was a woman who was touted as one of the premiere real estate investors with the company. I must admit that she was well spoken and confident. That's where the positives ended. The rest of the weekend was one prolonged infomercial to encourage you to "upgrade" to one of their premiere packages, which were anywhere from $20,000-$40,000!!
You were told that you would be a part of their inner circle. They were "considerate" enough to have financing information on site. The mind games never stopped....when an unfortuntate person bought one of their advanced packages, they would ring a bell and say "another eagle has gotten their wings." Seriously??? Then, to add insult to injury, we were informed that if we didn't upgrade to the premiere package, the real estate workbooks that we had purchased for $300 were useless to us!!!
Thanks for NOTHING. In a nutshell, I received no useful information and I wasted a weekend that I can't get back. What bothered me most was that they are preying on people who are genuinely looking for an opportunity to succeed in real estate. If they had access to the funds required for the premiere packages, why would they be attending these workshops???
Be aware if you attend, the Rich Dad people have their routine down to a science. You are being sold a lifestyle. The psychology of the group is utilized, talk of "eagles" getting wings, the rest of us "ducklings" supposedly left on the outside looking in. I lost respect for Robert Kiyosaki for being involved in an enterprise like this.
I encourage you to AVOID this at all costs. (I attached a picture of my USELESS workbooks ).
Extremely helpful
Do NOT purchase a package!
I attended the 3 day seminar as a guest in the Houston area. I signed up for a package.
During the 3 day seminar they tell you it's not a training package that you purchase but a creation of income. He continued to stress the package will lead to a creation of income streams with examples. In addition, he says the Elite team members help you and show you how to do this using real estate investing as the vehicle. I've been signed up since September 2017.
So far I've taken two online training courses and I continue to get calls about attending more training courses. Nothing more! The training courses are late in the evenings. They run until midnight CT!
One of the trainers suggested I go to craigslist looking for rental properties and randomly call the owners to ask if they want to sell. This is what they call a lead on a real estate investment. I was also told to peruse other sites such as section8.com or look for section 8 properties in my area and call the owners to discuss if they want to sell. This is considered another lead.
At this point, I've wasted about $20k for someone to tell me to look in the newspaper, craigslist, etc. and call random home owners as leads for potential income. Elite is definitely selling training at a way too high cost. It should be free to tell folks such information.
I've gained nothing. My friend who attended as my sponsor, purchased a much larger package and has since been talked into purchasing add-ons. The total is upwards of $60K+ and the mentor suggested to call neighbors to see if they're interested in selling.
None of the neighbors have signs up for sale or rent. Don't attend the 3 day seminar and definitely do not sign up for a package!!
- Guest speakers were friendly
- Mindset
- Unfulfilled promises
- Training class content
Preferred solution: Full refund
Rude sales pitch
3 Day Stock & Option
Well I went to the 3 Day Option Training Taught By Tim Justice ..Gentleman from Utah...Not to say he wasn't highly knowledgable-Certainly Is...But Mentor Wise...No Thanks...He was all over the map...Constant Prompts Note Taking...And I can guarantee by the End...Maybe ...Maybe 1/3 of the class knows what a short option put sell is..It was basically I'm Teaching a specific thing..Oh But here comes a philosophy....For a short time he had 22 yr old Jake teach who was spot on yeah & then Tim intervenes and takes over and it's like oh sh....
But irregardless..It's still an Expensive Only Trade My Way Or No Way operation...Trust This: You can take a $400 Day Trade Course at Investopedia Academy and get far better results without draining your financial swamp
Scammed!
My Refund
I attended the Rich Dad free seminar and was impressed; impressed enough to sign up for the $500 three day seminar. I was given a a book, a folder, and a tablet on the spot.
When I got home, I conducted some online research and was surprised at all the posts saying that it was a scam. I also read that some consumers were denied refunds. I immediately decided that this wasn't for me. I contacted the "school" which operates in Florida under the name "Elite Legacy Education" and requested a refund of my 500 bucks.
They consumer has 3 days to request a refund. They instructed me to email a refund signed request sheet which was included in the folder I received. I did that. I was refunded about $300 of my money that week.
They also emailed a fedex label for the return of the book and tablet. The hitch here, folks, if you will not get a refund if the tablet's sealed wrapping has been opened. be opened. Thank God I didn't open it.
I returned everything in the same manner it was given to me. Elite emailed confirmation that the items were received and refunded the balance of my money a week later. So in total, the refund process took 2 weeks. I'm thankful for their professionalism.
The conclusion here is that you have to follow their refund instructions to the letter. Also, call them to confirm and clarify instructions.
I can't speak on whether the class itself is a scam. But they did refund my money when I opted out.
Rich Dad Education/Legacy Education Alliance may be selling data about their client's financial situation
I paid $700 for a 3 day sales pitch
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We offer various levels of education based on each person's objectives. Many of our students have benefited greatly from attending our workshops.
You may browse through some of their experiences here: https://imgur.com/a/EDmWb. Cheers!
Completely agree. They do not care one bit about any single human being.