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Real Estate "Gurus"

Contributed by mm | February 6, 2004 11:34 PM PST



John T. Reed offers a complete library of reviews of various real estate investment "gurus." His judgment: most of them are fakes.

He also thinks Robert Kiyosaki, the author of the Rich Dad, Poor Dad series, is lying most of the time. I have to admit I am persuaded by the detailed analysis and can accept most of the conclusions in the review. I can understand Robert Kiyosaki may not have a "Rich Dad" in the first place, and no evidence supports that he earned a lot in real estate investments. (Disclosure: I read one of Robert Kiyosaki's books several years ago and I didn't think high of the messages he wanted to convey. I never recommended to people his books.)

Also, I don't think real estate is a good investment vehicle for ordinary people (including me). To me, the transactional cost of real estate investments is too high (6% commission + 1% sales tax + fees) and liquidity is poor. In addition, I cannot think of myself busy taking service calls from tenants everywhere. I am more comfortable making bets in the financial markets.

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