Kiyosaki is a Trump supporter who has said Trump is a genius.
Kiyosaki is a grifter too. His books are just funnels to get people into expensive courses where he can charge them thousands of dollars for virtually nothing of value.
>Kiyosaki doesn’t personally owe that amount; $1.2 billion is the total debt held by a group of real estate investors. “We have a lot of apartment houses with our partners,” she explains, some 1,500 units. “So technically, yes, we have all this debt,” but it’s attached to real assets. And Kiyosaki’s personal share of the debt is small. If his income is, as he tells me, about $3 million a year, that implies his portion could be $30 million to $60 million.
>“He loves to say things that shock,” Kim says. In this case, he knew the number would get people’s attention—cue me, running over the fields—“and then he can explain it in more detail, why investment debt is good
Well it's a clever sub-headline at least.
Let's say you buy shares in a listed real estate investment trust (REIT). The largest of these has about $37 billion of external debt but this is borrowed against properties worth over $100 billion. You as an investor in the REIT are not "in debt"; you are the part-owner of a company that has borrowed to acquire real assets.
Also "investing in real estate" usually = "be a scumbag landlord parasite who makes money by overcharging poorer people who need a roof over their heads"
Huh what do you know. I remember going to a webinar where he was the guest. It was supposed to be part of a program on leadership and success. He spent two hours bashing the Obama administration and telling us college students about how we were all doomed to fail, all the while looking very much like he’d taken an amphetamine before the lecture. Good times
His advice used to be good when nearly every city in America had 8 cap buildings. If you listened to him after 2008 the then refinanced during Covid you’re probably sitting pretty.
These comments are a great way to figure out who didn't read the article. Fine, he's not actually suffering from being in debt, but at least he will have to live with the idea he shit all over someone who seemed like a decent man while idolizing real estate villains
Magali_Lunel | 17 hours ago
This is just another one of his grifts
herr_oyster | 19 hours ago
A fascinating American weirdo. Great article, thanks for sharing.
InnerKookaburra | 18 hours ago
Kiyosaki is a Trump supporter who has said Trump is a genius.
Kiyosaki is a grifter too. His books are just funnels to get people into expensive courses where he can charge them thousands of dollars for virtually nothing of value.
CentralHarlem | 17 hours ago
Allegedly, but as the article discloses, lawsuits making that claim were dismissed.
echocharlieone | 18 hours ago
>Kiyosaki doesn’t personally owe that amount; $1.2 billion is the total debt held by a group of real estate investors. “We have a lot of apartment houses with our partners,” she explains, some 1,500 units. “So technically, yes, we have all this debt,” but it’s attached to real assets. And Kiyosaki’s personal share of the debt is small. If his income is, as he tells me, about $3 million a year, that implies his portion could be $30 million to $60 million.
>“He loves to say things that shock,” Kim says. In this case, he knew the number would get people’s attention—cue me, running over the fields—“and then he can explain it in more detail, why investment debt is good
Well it's a clever sub-headline at least.
Let's say you buy shares in a listed real estate investment trust (REIT). The largest of these has about $37 billion of external debt but this is borrowed against properties worth over $100 billion. You as an investor in the REIT are not "in debt"; you are the part-owner of a company that has borrowed to acquire real assets.
Dangerous_Pepper_939 | 19 hours ago
http://archive.today/bsUUY
alebrew | 15 hours ago
There's a clip of him on a podcast laughing and joking how he evicted a single dad and his daughter at Christmas.
https://www.reddit.com/r/WayOfTheBern/s/Eaq50KZ4jX
fifthing | 14 hours ago
Love the guy in the comments jumping to his defense
purplesalvias | 12 hours ago
I skimmed through his book one afternoon.
His utter disdain for anyone who isn't wealthy is gross. His expectation that everyone should make money investing in real estate is unrealistic.
CallAdministrative88 | 11 hours ago
Also "investing in real estate" usually = "be a scumbag landlord parasite who makes money by overcharging poorer people who need a roof over their heads"
SurpriseMiraluka | 10 hours ago
Huh what do you know. I remember going to a webinar where he was the guest. It was supposed to be part of a program on leadership and success. He spent two hours bashing the Obama administration and telling us college students about how we were all doomed to fail, all the while looking very much like he’d taken an amphetamine before the lecture. Good times
angrymurderhornet | 11 hours ago
Why does it not shock me that a self-proclaimed pop-finance guru has run into money problems?
KCLORD987 | 18 hours ago
That is not his problem XD
DeadWishUpon | 15 hours ago
That is rich!
K04free | 17 hours ago
His advice used to be good when nearly every city in America had 8 cap buildings. If you listened to him after 2008 the then refinanced during Covid you’re probably sitting pretty.
Poncahotas | 15 hours ago
He's actually been the Poor Dad the entire time!
Educational_Poetry22 | 11 hours ago
These comments are a great way to figure out who didn't read the article. Fine, he's not actually suffering from being in debt, but at least he will have to live with the idea he shit all over someone who seemed like a decent man while idolizing real estate villains
Bright_Ices | 27 minutes ago
And being one, apparently.
parkernorwood | 5 hours ago
Couldn't happen to a nicer grifter
SupermarketHot1856 | 4 hours ago
He still lives in a multi million dollar home in one of the nicest areas of phoenix/scottsdale so he must not be doing that bad.