Go into debt to get wealthy? Here's how: - Robert Kiyosaki

I went to my rich dad and that said what do I have to do and that's when my rich dad said to me and says you have to take a course in real estate I said real estate why he says well for greenhouses one red hotel I said yeah but aren't you going to teach me he says I don't have time to teach idiots you know now I want you here Rich Dad really believed in education but he didn't want to teach me so that's not my job your job is to be a student then I'll teach you so I signed up for a three-day course I was watching television in Honolulu and I was still a marine corps and this ad came on about learn how to invest in real estate money no money down you don't need any money ah that's what I want to do so I took the course it was exactly this rich density to do you see the beauty about real estate is you learn to use debt to get rich I'll give you another tip if you're going to be rich you have to learn to use debt is called other people's money so when I hear poor people say to me oh I said because you're an idiot that's why you're not supposed to use your money you suppose use other people's money with us dude I don't want to do that and so they stay poor so I did this course so the instructor then gave with about 30 us in the class he says all of you this is your assignment this is when you get your education you will look at a hundred properties in 90 days and write it up so I would go to the real estate offices and I say what kind of properties you got to look through it then I went out in a week I might look at maybe six seven sometimes ten and then I had to write a report on each one so I go out next week and then by the time I was into probably of the 90 days I was into thirty days half the classic quit and that's reason they're poor they couldn't stick it out for 90 days so I continued on by the 60 days the other half of quit of the class not half but half of the half and finally it came down to the final days it was like six of us final left and all of us will not become multimillionaires what we do is we just stuck it out we just can't go and look at properties or saying this is what we're looking for no no no no and of course realtor is you know their real estate broker you know why they're called broker because their broker than you are you know I mean and you're trying to take investment advice for those guys same as stock broker you know if they were rich they wouldn't be broke you know think about it so anyway I'm over there doing the deals and finally get through the hundred properties in 90 days and then and only then did I know which property to buy and to this day you know I still remember it it was a little beachfront condo right on the beach in Maui nice place everybody wanted to live there the property was in foreclosure and I walked in there and I said how much is a one-bedroom condominium the guy says oh wait I rent knew the numbers $18,000 what holy man I said how much is the down payment he says 10 percent I said can I put it on a credit card this is yes you can so my first property was a hundred percent debt and that was one of the best education I ever had you

Channel: Success Resources

Views: 1,480,358

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Keywords: Robert, Kiyosaki, robert, kiyosaki, network, marketing, cashflow, quadrant, stock, market, second, chance, rich, dad, poor, books

Id: f6F0XCoXA8s

Length: 4min 10sec (250 seconds)

Published: Sun Jun 26 2016