Robert Kiyosaki's investment advice?

I read the book Rich Dad Poor Dad, from the book I got the advice that its better to buy up real estate, and good investments. However he explains that he started with nothing, i mean nothing, dirt poor. So how did he get a loan to buy a house without collateral? How do I get a loan for 200K with no collateral? I have an average tax rating (650) and have never defaluted. I just find it hard for a bank to give a loan if you have no substancial income to back up the request for the loan. Is this guy another Carlton Sheets, or will the advice really work?

I've read most of Kiyosaki's books and found them to be sound advice rooted in reality and not in selling seminars like many of the current crop of real estate gurus. I've bought real estate with no money down long before I read Kiyosaki's books (or even Robert Allen). When I bought my first 3 unit building I was living in my car and working on commission only. Keep in mind, the real estate IS the collateral, along with your good credit. If you have no substantial income, consider finding a partner, or group of partners who do. I used to split real estate purchases with another individual who would qualify on the loan with me. I managed and maintained the property while he just supervised. Kiyosaki's advice is some of the best out there if his objectives truly appeal to you. Remember, Poor Dad was content just being just an employee and I know many people (the majority probably) who prefer that life. For that matter there is no reason you can't do it both ways, especially if you understand Kiyosaki's advice about smart money.

Look for creative ways to get there. If you have maintenance skills, talk to some mid size apartment complexs. See if they need someone to handle daily maintenance and rent collection. Live there for free. Learn the business. Save some money and then buy a foreclosure.

You may be surprised to find that banks are very willing to lend money to you, esp. if you have decent credit, a job, and money for the down payment. They'll factor in the rental income when they qualify you.

I found his advice more helpful on the motivation side, not on the details of investing. Just keep yourself balanced by reading other authors. Robert's best advice is to educate yourself to become financially wise to your own finances, and the finances of investing.

There are some who disagree with his writing (see URL).

I use http://www.HomePriceMaps.com to search for realty prices by zipcode and/or city. Also-if you don't see any data for your area you can email them your info and they will quickly post home data for your area and email you within a day or two. pretty convenient.