How To Invest With NO MONEY Down: Turn $0 Into Infinite Returns -Robert Kiyosaki (Millennial Money)

Video Transcript

Are you ready it to the next level?
Investing into sound investments like big money does.

– Hello, millennials and all generations. This is Millennial Money, featuring Robert Kiyosaki. I’m your host, Alexandra Gonzalez. You know Robert as the best selling author of the number one personal finance book of all time, "Rich Dad, Poor Dad." But I’m happy to announce that Robert just released his brand new book, "Fake: Fake Money, Fake Teachers, Fake Assets." You can get your copy by following the link in the description below. This topic was highly requested by you guys. So, due to popular demand, in today’s Millennial Money, we’ll be covering how to invest with OPM or other people’s money. Here’s how Robert explains OPM. – It was a long time ago – Yeah. – when I first started Millennial Money, and I made my usual wise-ass remark, "Only lazy people use their own money." And that’s because I have spent much of my life raising capital. You know, today you have crowdfunding and all that stuff, but the reason I had to learn to raise money was because I had no money. And so, if you read "Rich Dad, Poor Dad," in there my rich dad always said, "Never say I can’t afford it." And it was my rich dad and many of my teachers subsequent to that, that said, "Lazy people always say I can’t afford it. "I don’t have the money. "That’s why they’re poor." They have a poor mindset. So, instead of figuring out how to raise money, it’s just really easy to be a loser, and I call them losers. It pisses them off because we all have the power, if we wanted to, to not be poor if we learned how to raise money. So, I hear, you know, and the reason I get upset, I still get hot like this. (Alexandra laughs) My poor dad, my PhD Father, he always said to me, he says, "You know, I’d be a rich man if I didn’t have you kids." And I said, "Well, you know, dad, "it’s not my fault you had kids." You know, I mean, "You know, I just can’t afford it because I have kids." And the more he said that, the angrier I got. So my rich dad, at age nine, he says, "Well, that’s why your old man’s poor, "because he’s lazy. "He thinks his PhD is gonna carry him." He says everybody can say, "I don’t have money. "I can’t afford it." He says, "That’s why he’s poor. "He’s lazy." But my father kept going back to school, you know, Stanford University, Chicago, Northwestern; he never learned any of this stuff. They still don’t know it. Because most teachers want a pay check, pension, and tenure. They want job security. So the mindset is different. And that’s what they teach the kids. – Next, Robert tells us the number one phrase that keeps people poor. Now pause, I want you to leave a comment below if you know what it is. Don’t cheat. – So the reason I say only lazy people use their own money is because it takes much more intelligence to raise capital. And so I’ve never been able, ever since my rich dad, since a little boy, my rich dad forbade me from ever saying I can’t afford it. He says figure out how you can afford it. "How can you do something?" Figure out how you can do something. So, over my lifetime, most of the projects I’ve started, I’ve never had any money. I like not having money, because it forces me to think; I get creative. I have to educate myself, I have to talk to rich guys. "How’d you do this? "How’d you do that? "How you do that?" And what has happened to me, and I just turned 72, I’ve never needed money. Because if I need money, I figure out how to raise it. So today you guys have crowdfunding and all that. I mean, I don’t know what that stuff is. But it’s easy to say, "I can’t afford it." All the poor people say, "I can’t afford it." All the poor people say, "Well, let’s tax the rich." All the poor people are saying, "Well, give me a free education, free food, free schooling, "free manicures, free pedicures." There’s laziness, my opinion. – One of my favorite things that Robert teaches is how your mindset can literally change everything. If you have an open mindset, you can really change your life. So Robert explains how his mindset changed how he invests. – So, you know, over my lifetime, I’ve raised hundreds of millions of dollars. And it’s because I didn’t have money as a young person that I learned how to raise capital. And it’s really quite simple. You have to find an asset that’s worth more than me, you know. If they can’t invest in me, because that’s called slavery, you know, by me, you know? So what I do is, when I started off, I write about it in "Fake," I started off looking for this one little piece of real estate. I found an excuse, you know, this one bedroom, one bath condominium on the beach in Maui. And I found an excuse for people to give me the money. All I had to do is assure them I’d pay them back. So my first deal was an infinite return deal. I had no money in the deal because it was 100% debt. It was an $18,000 condo. You can’t touch them for that much any more, but the economy was bad. So I buy this $18,000 condo; the guy wanted 10% down, you know? You don’t need higher math. 10% of 18,000 is how much, sports fans? 1800 dollars. I could’ve use my money, I had the money. But that would be too easy. – Robert tells us lazy people use their own money. Let’s find out exactly what he means by this. – Only lazy people use their own money and that’s what really pissed off a lot of people out there. Go, "You calling me lazy?" I said, "Yes, I am." Because you’re the same type of person will say, "I can’t afford it. "I can’t do that." That’s the problem. It’s up here; it’s a real estate between this ear and that ear. "I can’t do that." Most of my family say, "Oh, yeah, I can’t afford it." My father taught to say that; my mother taught to say that. My rich dad said I should never say that. Let me ask you this question. You know, you work for the Rich Dad company. How much of my money is in this company? – Zero. – Zero. Zero. – When using OPM, one question I had for Robert was what happens if the deal goes wrong? He answers by telling the story of one of his biggest mistakes. – So, the biggest mistake. So, I was doing very well here. This was 1973, I started buying my first deal. And that was an $18,000 deal. $1800 down, $25 a month. Cash flow. – Cash flow. – I was infinite. And then I kept doing that, I had a lot of property. And then I decided I go here. So my first business was a nylon and Velcro surfer wallet business. And it didn’t sell. So you know, everybody knows what those wallets are today. But back then this is 1974 or five. Yeah, ’75. They didn’t know what the wallets were. So we’re going broke really fast. We bought 100,000 of these wallets from Korea. We ship it to our warehouse in Long Island, and we’re borrowing money from our investors. So we raised about $600,000; I got this little goofy wallet business up. So we’re in serious trouble. I owed my father about $200,000, my rich dad was laughing at me. We’re going broke so quickly. Because we couldn’t move the wallets, a 100,000 of them. They were sitting on this (murmurs) warehouse on Long Island. And nobody would buy them from us. So then the good thing about stupidity, there it is, makes you smarter. So I started thinking; we started thinking. Said what’s wrong? And I said, what was happening in the world at that time, all the baby boomers are fat, so they had to start running. So jogging was coming online, you know, and nobody jogged before. You know, so these guys are all jogging. And then we’re reading the paper; we’re sitting in Honolulu, going broke fast. And we read the paper, this jogger went to Golden Gate Park in San Francisco and was jogging around the park. And what the jogger did was he had no place to put his car key. So what did they do? He puts it on the front tire of his car and goes for a jog around the parks; we’re reading this newspaper. And voila, when he comes back to his car, the car wasn’t there! – Oh, gosh. – So the guy says, "They stole my car!" – Oh, my goodness. – And so the question was, on the headline of the newspaper article, "What does a jogger do with their key?" And so we sat there, said, "Oh, my God, a problem. "A problem." So with that, I designed the shoe pocket and you can see this picture right here. It’s Playboy magazine. I mean, she’s nice looking young model with nothing on but a shoe pocket. (Alexandra laughs) But anyway. So we’re going broke so fast by then. But when that picture hit Playboy, suddenly, we were geniuses. And everybody started throwing their money at us. And all this product, our wallets were selling; our shoe pockets were selling. Investors were happy. And the sales went through the roof. So we were extremely successful. So we went from risk, stupid, smarter, successful. But the problem was how do we finance our inventory? Because the demand was worldwide, and we couldn’t keep up with demand. So I borrowed another $100,000. And I went to my CPA, my CFO, Stanley. So I said, "Stanley, will this $100,000 "solve our inventory problem?" He goes, "Yes, it will." So I gave Stanley the check. And he ran off with it. – Oh, my goodness. – I had no signed documentation; I turned it over to him. He said I owed him the money. So that was one of my first, you know, six figure, seven figure mistakes. – This is another question all of you flooded our comments with on YouTube, and all of Robert’s social media. It’s: what advice do you have for millennials just starting out? Watch what Robert says. – Well, number one is investing; invest in what you love. I love business. I love real estate. I mean, I really love it; I own this building here. And I love gold and silver. So I invest in what I love. Most people say, you know, do what you love, but I’d rather invest in what I love. But I love being an entrepreneur, I love investing. It’s like Shark Tank to me. I’m always looking at new businesses, new deals. It’s just a game like this. You know, when you look at the financial statement, that’s like your scorecard. It’s like your golf scorecard is your financial statement. But as you know, our schools teach us nothing about financial statements. – Finally, we wrap up our discussion about OPM with Robert’s final words for those of you that use the phrase, "I can’t afford it" as an excuse not to invest. – But it goes back to the original question: Why did I say only lazy people use their own money? Because lazy people always say, "I can’t afford it." You know, "I can’t do it." It’s easy to say that. And that’s why they’re poor. It’s harder to go raise a million dollars than to say, "I can’t afford it." – All right, guys, that’s it for today. But before you go, I wanted to let you know of the new show we’re launching, Weird Money. And this is gonna be our host, Derek. – Howdy, guys, I’m Derek. I’m gonna be hosting Weird Money on the Rich Dad YouTube channel, and I look forward to talking to all of you about the most bizarre and out of this world parts of our financial institutions, the economy, jobs, all that sort of stuff. And thank you, Alex, for introducing me. – Thanks, I’m really looking forward to it. And well, guys, don’t forget to subscribe and hit the notification bell if you wanna be notified on this new show. Bye, guys, see you later. (upbeat music)

Welcome to @BigMoneyInvesting3529 – Your Ultimate Destination for In The Money Facts!

🌴 Discover the Big Money Investing Strategies on Metals and Real estate Investing. 🌊

Experience the world of finance with @BigMoneyInvesting3529

We bring you the latest and greatest from Big Money Investors, showcasing the why’s, how to’s and best steps.

Whether you’re planning a short of long term investment, preparing is the first step and most important one.

The Big Money Investing channel is a great go-to source for your investing advice.

🔥 What You Can Expect:

  • Exclusive Financial and Big Money Investing How-To’s
  • Big Money Financial Traits: Learn how to mix and match your perfect investment portfolio to match the planned out time horizons.
  • Financial Learning Is A Lifestyle Change: Stay financially fabulous with our expert investing tips, real estate pratices, and healthy lifestyle advice.
  • Behind-the-Scenes: Get a sneak peek into how the Big Money Investors spend some of that return, from photoshoots, to interviews with the experts.

👙 Why Subscribe to @BigMoneyInvesting3529?

  • Stay Updated: Be the first to know about new investment ideas and most importantly what not to be part of in todays age.
  • Inspired Goals Lend Motivation: Get inspired by our Big Money Investors vibrant and diverse lifestyles, a perfect view at times.
  • Engaging Community: Join a community of financial enthusiasts and wealth producers that love to share their passion for life with others.

🔔 Subscribe Now: Hit the subscribe button and turn on notifications so you never miss an update from @BigMoneyInvesting3529!

Join us on this fabulous journey and transform your financial situation with the latest trends and tips from Big Money Investing.

Thank you for being a part of our amazing community.

We can’t wait to see you shine finanically!

🔗 Subscribe here!

#BigMoneyInvesting #big #money #investing #lifestyle #investors

Support Big Money Investing Sponsors

Leave a comment on this content and future topics you would like us to cover on Big Money Investing!

Share this post

Comments (26)

  • @TheRichDadChannel June 16, 2024 Reply

    When it comes to investing, would you prefer to use your money or Other People's Money?

  • @AmariTrades June 16, 2024 Reply

    4:40 “What does he mean find an asset that’s worth more than me”

  • @dominosnostradamus2415 June 16, 2024 Reply

    Good job girl I feel bad for you dealing with him 11:59

  • @dominosnostradamus2415 June 16, 2024 Reply

    😴 11:44

  • @dominosnostradamus2415 June 16, 2024 Reply

    That’s stupid 10:44

  • @dominosnostradamus2415 June 16, 2024 Reply

    Awkward 9:29

  • @dominosnostradamus2415 June 16, 2024 Reply

    Bruh 5:52

  • @dominosnostradamus2415 June 16, 2024 Reply

    Democratic Socialism is good 4:27

  • @agneszenda June 16, 2024 Reply

    2024 and i'm here in Zim, Africa. Truly inspired by all these people talking about 100Ks and millions in the comment section. Been having these 2 great business ideas it's been 3 years trying to get that capital for them. 11K and 15K each. May God help us Africans😢

  • @TheDstraub June 16, 2024 Reply

    Funny thing is he doesn’t actually ever tell you anything. This guy had a rich friend who loaned him money… lucky him. He’s a total fraud.

  • @weshouser821 June 16, 2024 Reply

    This told me absolutely nothing useful

  • @ThatBoaJordann June 16, 2024 Reply

    Who here in 2024?

  • @glen4326 June 16, 2024 Reply

    Wow, so enlightening. People are lazy. Find a way to raise money. Groundbreaking. Work. Everybody works. You mean, work your fingers to the bone. Like immigrants do? If a person from another country can come here and become rich, so can everybody.

  • @maximusmeridius3380 June 16, 2024 Reply

    I still don't know how to raise capital or other peoples money. Details and specifics count.

  • @blizzart9191 June 16, 2024 Reply

    I don't say:" I can't afford it."
    I used to say:" thx, don't need it."

  • @user-ry3gr5sl2m June 16, 2024 Reply

    Poor and middle class people work for money while rich have money work for them.

  • @ishikagupta3158 June 16, 2024 Reply

    Dont work for money make money work for you

  • @douglassmith9445 June 16, 2024 Reply

    Please oh please Robert, have a long form conversation with Dave Ramsey and truly explain each side.

  • @aluexpress987 June 16, 2024 Reply

    Education shoud be free only in the world.

  • @midwestcharm June 16, 2024 Reply

    I don't have a father that I can borrow $200,000 from like he did

  • @SpaceRexit June 16, 2024 Reply

    Without cheating
    The number 1 phrase that keeps people poor to me is: "I can't afford, I'm too poor, I'm broke" rather than getting into the nitty-gritty of the problem

  • @inittowinit3260 June 16, 2024 Reply

    Thanks Robert for another video of no help

  • @ToddMills-bv1tf June 16, 2024 Reply

    I never needed money, because when I needed it, I would just find a way to raise it… what kind of advice is this!? This guy constantly contradicts himself. How disconnected from reality do you have to be, to call working people lazy because they dont want to spend their money on frivolous things.

  • @RajeshKumar-xg5cm June 16, 2024 Reply

    Your generosity can change a life. Please consider lending a helping hand. Every contribution, no matter how small, makes a difference. Please support me in my time of need. Your kindness can brighten someone's darkest days. Please consider donating to help me overcome my hardships.With your support, I can rebuild my life and create a better future. Please consider donating to make a difference. Please please please help me.
    Bank: city union bank
    Acc no:500101011721145
    Name: M.Rajesh
    IFSC : CIUB0000042
    Branch: salem main

  • @SuccessMikeMatthew-gw5uh June 16, 2024 Reply

    I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charlotte Miller.

  • @matthewsetzer9896 June 16, 2024 Reply

    I seen that red bracelet he had.
    Is Robert a cabalist ?

Leave a Reply

Your email address will not be published. Required fields are marked *