Friday, May 28, 2010

Rich Dad Seminar in Edmonton

Todd went to the Free Rich Dad "How to Get Rich in Alberta" Event. The event which has suffered bad reviews, investigations and unfortunate sales tactics seemed like a good place to network.

Overall his impression was that the event skims over a lot of ways to get wealthy but doesn't support with any real meat. It's all sizzle. Which is good if you want to keep people coming back for more but doesn't work for those who are looking for real information. The host, Darren Weeks, an Edmonton multi-millionaire, was partially aggressive and a little condescending - but that's what wealthy are like right? At least it's the way we expect them to be.

We got a follow up direct marketing letter with some tips like; build your elevator speech, find a mentor and get a business card. Three excellent pieces of advice if you have a clear goal in mind to apply them too.

So the final rating? These seminars are not as evil as many would have you think, at least this one wasn't, however this event alone will in no way get you rich in Alberta or anywhere else.

Oh and networking time ZERO they were herded around and only got a three minute break - come to think of it the perfect amount of time to use your elevator speech....

8 comments:

Chris Davies said...

Good place to network, but sorely lacking in content. I find at least one person at every REIN event who has just been to a Rich Dad weekend and is now wishing they'd saved the money on the RD stuff and just came out to REIN.

Anonymous said...

I used to work with Darren. In my opinion he was a great salesperson who used his charm and outgoing personality to always make the sale. His success in Real Estate was 50% hard work and 50% luck. His success story involved purchasing properties by assuming non qualifying mortgages and then flipping those properties when the market was hot. Non-qualifying assumable mortgages have all but vanished in Alberta, so it is no longer possible to obtain property by using this model. Darren does have charisma but I'd be vary of his claims and remember that his background is 100% sales. He is out there to generate wealth and if you can help him along the way he will gladly sell you something.

Patrick said...

Has anyone done a short sale in Real estate? Let me know what the lenders are looking for. Anyway thanks for this great post.

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Alberta Oil Sands Investor Abroad said...

Chris - nice to meet you! Now I have a face to put to the great blog! I know what you mean about putting the cash towards REIN but in some ways I wouldn't have seen the value in REIN if I hadn't gone through about 2 other not so hot courses. Cheers! See you Danielle

Alberta Oil Sands Investor Abroad said...

Anonymous - there is very little luck in Real estate. For sure his sales background helped him. We bought a number of houses using non-qualifying assumables I only pray they come back or another model to fill that void. They were fantastic. Thanks for the comment! Danielle

Bill said...

What are the benefits of REIN?

Anonymous said...

I went to the free 2-hour rich dad seminar last year (actually put on by Tigrent Learning Canada). Since I didn’t know any better back then, and their sales tactics were top-notch (like making it sound easy to get your money back, which it’s not), I ended up buying the 3-day rich dad real estate course for $500. However, I couldn’t take the course until now, a year later, and in the meantime I had joined REIN. Going into the 3-day course, I knew it would be a lot of sales, but (like Todd) thought it might be a good place to network and probably a good course in sales. And with all the negative reviews in the media, I thought perhaps they cleaned up their game. Nope. I was still blown away! One of the worst courses I’ve ever experienced. I honestly can’t believe these guys still get away with this, and that they have such low ethics! They want their students to stay naïve and soak in the deceptive sales pitch. Some things were just plain ridiculous – like making you feel like you have broken the law if you attempt to network, talk to each other, or exchange business cards! I questioned why someone would invest in Windsor and not in Alberta – obviously this revealed that I had some real estate knowledge, so I was quickly shut down, told I should probably leave if this wasn’t for me, labeled a resistor and a non-compliant person. Trying to be diplomatic, I said there are probably pro’s and con’s to both locations. The instructor shot back saying there were no con’s to what he was teaching. No con’s? No risks? If someone tells you there are no risks, they are lying through their teeth. This was only one of several examples. These salesmen suspected I was a REIN member and were actually very threatened by me, probably because I may lead others to question their merit or, god forbid, think for themselves. I personally found this pretty hilarious as I’m normally the quiet good student and the last person to cause “trouble” in a classroom. As far as the actual content was concern, I thought it was very poor. For $500, students should get way more – and I know it’s possible; as REIN does it! The whole event was aimed to skim over the top and introduce a bunch of high-level strategies very quickly, leaving students confused and wanting more information. They attempt to instill some fear that if you don’t sign up for the mentorship program, you will not succeed in real estate, and therefore not reach your dreams. Pay now, or never have this opportunity again. Well, for $18,000 - $45,000 for another 3-day course they will give you that information...maybe. I would never spend that kind of money to find out. I left early, and I can only imagine what deceptive things they said about me to the other students to their own advantage. It’s hard to keep quiet after experiencing such a mind-blowing event. The first day was comical, but the second day was just irritating already and I just wanted to tell as many other students as I could to “do your research!” and “you have other options!”. Thanks for letting me share. I fully support this article as well: http://www.asksaro.com/401-robert-kiyosakis-rich-dad-education-on-real-estate-investing-review/

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