Quoting Kiyosaki
I'm new here and have been studying diligently. I just read rich dad poor dad and loved it.
Im curious about something he said in the book.
He said, (in 1997), that buying foreclosures was "too slow and too many other people are doing it"
What do you think about that? Is it true that the "formula" has lost its potency??
I suppose that depending on where you are that could be true or not true. I dont know what do you think??????????
Was he speaking about getting them at auction? Go back and look...since buying them at auction requires a different breed than the folks who acquire houses in preforeclosure, and prior to the auction.
I think you took the reference out of context. Kiyosaki actually said that he learned a formula for buying foreclosures when he was much younger and he made a lot of money using it. But today (in 1997) that old formula is "too slow and too many other people are doing it"
Your right I think I took that out of context. Thanks for your replies.