In my previous entry, I wrote about my apprehensions on wealth seminars like the Think Rich Pinoy seminar. As I said, I wanted to attend but I wasn’t sure if it was worth the S$200.00 registration fee. Luckily, I discovered that the same seminar is going to be held on the weekend that I was going to be in Manila for a friend’s wedding. So I decided to attend that one instead because the registration fee was only P1450.00.
You probably want to ask me “So, how did it go? What’s the verdict?”
Before I went to the seminar, I was begging my dad to come with me so we can absorb the concepts together. But he kept telling me he already knows what’s going to happen since he’s been to a million seminars like that one. He even told me, I bet you at the end of the seminar, they are going to sell or ask you to join something. Then they’ll get your information and after that your phone will never stop beeping from messages inviting you to different things. So I went alone because I wanted to experience for myself what the seminar is all about.Â
The seminar discussed a lot of concepts that I have already read in Kiyosaki’s books,Napoeleon Hill’s Think and Grow Rich and Francisco Colayco’s Wealth within your Reach (Pera mo Palaguin Mo). Even though the concepts were already familiar with me, it was still very inspiring and probably moreso for those who haven’t read the books.Â
The first speaker was a financial adviser from PhilamLife Plans. The second part was an inspirational feel-good talk from Bo Sanchez and the final speaker was Dr. Larry Gamboa.Â
The last part of the seminar brushed on the how-to’s of making money in real estate. There were a couple of people sharing their success stories and that part really motivated me to get into real estate too.  Â
We also played a game of Cashflow 101. I have played it before but the rest of the people there did not have any idea on how to play the game much less knew what to do with their financial statement. They gave us an hour to get out of the rat race and most of that time was just spent teaching other people what to do with their financial statements. We didn’t even get to complete a round in the rat race. Â
There were some people who got out of the rat race in less than an hour but I highly doubt if their financial statement was updated properly.  There was one pair (we were playing in pairs because there was a shortage of gameboards) in our group that got out of the rat race in an hour but they could hardly update their statement without help I doubt if they got the point of the game. But Robert Kiyosaki did say you need play the game at least 10 times before you get the point.Â
Finally, they talk about their dream of creating 1 million Pinoy millionaires by 2020. I think this is a good vision. It’s related to what Donald Trump’s and Robert Kiyosaki’s book “Why we want you to be Rich” is about. People should do away with their entitlement mentality - meaning stop relying on your government for your own survival. Imagine, 1 more Filipino millionaire is 1 less Filipino relying on our government to get them out of poverty and 1 more Filipino who can help other Filipinos get out of poverty too.
They plan to accomplish this by “mentoring” people on the ins and outs of real estate. What’s the catch? Well, the mentoring only costs a measly P400,000.00. After that you have to “mentor” five others. It sound a little like network marketing to me coated with a nationalistic appeal. I’m not saying it’s wrong. As a matter of fact, Robert Kiyosaki encourages people to join network marketing groups because it’s the best way to get mentored.Â
I went home totally convinced that I would buy this franchise and get mentored. But when I got home and told my parents about the seminar they were very skeptical. Well first because my dad was right because at the end of the seminar they were selling some properties and introducing their franchises.Â
Then my dad (a non active yet licensed broker) told me that you cannot sell property whose title is not in your name unless you’re a licensed broker. Did you ask them about that? I said, “Huh? I don’t know. They didn’t mention it.” And he just replied “Then ask them.” (I still have to verify whether my dad is correct or there’s some legal way of going about it.)
I’m also wondering if it’s really that easy to find people to flip properties to? From their stories it looks pretty easy.Â
The one thing that I have been wondering about in the seminars was how to they pay taxes? Are they legally avoiding it or are they illegally evading it?
When I registered for the seminar, I was asked about my expectations and one of them was that I would be given an official receipt for the P1450.00 I paid for. I think it’s only right to make sure that people who would be mentoring our country’s future millionaires pay taxes that they cannot avoid legally. There were about 100 attendees in that seminar who each paid P1450.00 but I didn’t get an official receipt.  I’m all for 1 million Pinoy millionaires by 2020 but so about 1 million Pinoy tax evaders by 2020.Â
So the verdict? I say, the seminar is worth checking out. You have nothing to lose but potentially a lot to gain.Â
On a related topic:
One of the reasons you should also be careful about entities promising to make a millionaire out of you is this news about Dinna Revilla, author of the book “Riches in Foreclosures” and Dr. Larry Gamboa’s real estate mentor. Always do your own research before committing yourself. As Trace Trajano said in his book “Think Rich Quick”, you should practice due diligence and part of it is making sure you are covered.Â
Sphere: Related ContentMiriam Quiambao files raps vs realty firm
Former beauty queen Miriam Quiambao and four others filed a syndicated estafa case yesterday against an alleged incorporator of a real estate investment company before the Manila City Prosecutor’s Office.Â
Regional Director Edward Villarta of the National Bureau of Investigation-National Capital Region (NBI-NCR) named the complainants as Quiambao, Karen Ann Navarro, Ma. Esperanza dela Cruz, Maria Cristina Avenido, and Sheila Lim.
NBI agents apprehended Dinna Lynn Revilla, the president of Bonaventure Investors Realty Society Inc., which has offices at 407 Praise Condominium on Santillan street in Makati City. The firm’s incorporators – Antonio Revilla, Sheree Revilla, Ramon Cuervo III, and Gloria Petate – have also been named as respondents.
Dinna Lynn allegedly convinced the complainants to put their money in a property investment and guaranteed hefty profits in a short span of time, according to the NBI-NCR.
Navarro, Dinna Lynn’s apprentice, allegedly discovered misappropriations and discrepancies in the property investment and told the complainants about the status of their investments.
The complainants “discovered that their investment earnings were misappropriated and that their property investment were indeed already foreclosed… due to the non-payment of its corresponding monthly amortizations in the bank,†said Villarta.
The respondents allegedly continued to ask for P300,000 from the investors. This prompted the complainants to seek the NBI-NCR’s help.
The agents set up an entrapment operation wherein they prepared 10 marked P500 bills. Navarro met Revilla at a restaurant in an Ermita mall last Jan. 28 and the NBI arrested her once the transaction had been completed.
Special Investigator Manny Fayre said they filed charges of syndicated estafa against the respondents.
Source: Philippine Star
10 responses so far ↓
1 Froi // Feb 21, 2008 at 5:15 am
Sir I attended the same Seminar in Philamlife Tranining Pavillion last February 16, 2008, since I had a short vacation trip back in the Philippines from February 13 -19, 2008. But now, I’m back here in Singapore.
2 Froi // Feb 21, 2008 at 5:35 am
I also dream and plan my life to achieved that Financial Freedom, and I plan to do it as the soonest as I can so that I can enjoy life with my family,but I never said to myself that I will merely do it tru Real Estate. I have other options, other than Real Estate though I also plan to enter into this kind of investment since I have friends who are working in Pag-IBIG Funds, specially handling Foreclosure Accounts and Acquired Assets, and as feedback from them, you can really earned from this NPA (Non-Performing Assets), but I tend to raised a working capital in acquiring this assets first so at least I can fully owned them on a Bargain Price. But as of now, I am working on other sources of income aside from my Salary Income. Though I already read books from Napoleon Hill, Dr. Larry Gamboa, Bo Sanchez, Farncisco Colayco etc. etc.,however personally,I still gain from this Seminars.By the way the local chapter of the Singapore Jaycees are conducting a Cashflow101 game here in Singapore. Maybe I’ll try to join in their next scheduled.
3 Ms. Tsiken // Feb 21, 2008 at 11:29 am
It’s good to hear from a fellow Pinoy with the same goal of financial freedom!
We attended the same seminar! We probably saw each other there.
I also attended because I was in Manila for the weekend but I’m also back in Singapore now.
I’m sure our paths will cross again.
4 Recto // Mar 4, 2008 at 2:36 am
Hello,
I’m new to Singapore currenly looking for rental rooms. I got interested on your articles above in which we have similar goals,to gain financial freedom and get out of the rat race…I would appreciate if you can help me locate a place to stay in Singapore preparably near Commonwealth..Thank you..
5 Ms. Tsiken Rice // Mar 4, 2008 at 12:27 pm
Hi Recto,
Your best bet would be the classified ads of Pinoysg.com and other sites such as roomsdb.net and apost.com. Good luck with house hunting!
You might also find this entry useful.
6 jomar // Mar 4, 2008 at 12:37 pm
Hi! Just some history. From the beginning, the TRP sessions were just “info-only”, then Larry came up with the vision and he knew he needed a way to make the vision happen. It’s not netmarketing at all, it’s real mentoring (think Jim Rohn or Tony Robbins)-you’re not required to sell merchandise or any products but to continue on the real estate business you want to pursue in the first place. You’ll just be followed up and supported and trained by many mentors in different friends, not just real estate.
Also–around 95% of applicants to the franchise are rejected. The rules are pretty strict, Larry and company are not after your money- they’re after people who really really want to be millionaires. But if it’s just a simple desire and not a burning desire–they don’t consider the person at all.
Regarding the ORs, I’ll ask the team to bring blank ORs next time -come to think of it-i also don’t bother asking for one when I attend events. Strange.
Nice review though. I’m kinda concerned that you’re actually thinking about how others pay taxes instead of how to become wealthy yourself. I suppose you’re just being wary of frauds.
However, it’s not about them-really. It’s all about what would YOU DO. As trace said, the real estate busines is a great model for wealth. It’s up to you how YOU practice it.
7 Ms. Tsiken Rice // Mar 4, 2008 at 1:12 pm
Thanks for the clarification jomar.
Though you shouldn’t be concerned when people are asking for ORs. Yes, I am thinking about how to become wealthy but I don’t want tax authorities after me.
Besides you’re going to have to pay them one way or another. It’s just that you don’t need to pay any more than what the law requires you to. If I had a business, I would be needing ORs for tax deductions just as I would need to issue ORs to those I cater to. I was just curious actually if they
would issue an OR if someone asked for itreally read the expectations on the registration info.Taxes pay for the infrastructure and public services of our country (ideally). If nobody paid taxes, then our country would be in a much sorry state that where it already is (unless our country can find another source of income like oil reserves).
It’s not about the taxes really, my concern is I hope they groom millionaires who have a sense of social responsibility. Because money and social responsibility together is a powerful thing and it can effect changes in our country which if I’m not mistaken is one of the goals of TRPMN.
Cheers to Pinoys taking over their financial destiny!
8 kcirsun // Mar 7, 2008 at 12:16 pm
It was great to have stumbled upon this discussion. There is alot to learn from the exchange of replies, that is awesome! I guess we all agree in one thing here that in order for our country to become wealthy the people need to become wealthy and it all begins in our mindset. I believe that this is one of the greatest positive influence of TRP seminars.
Attending a seminar like TRP is bound to start a fire in your heart because it touches something that is really close to many, if not all, of our hearts and that is to become financially free. Surely, after attending it, a dream will be given birth in our minds - and believe it or not this is where it will all start.
From there, it is now up to us whether this dream will remain as it is or will we start working on making it a reality. Now, should we decide to take that bold step of living our dream, we are bound to encounter “dream killers”. Dream killers are those who will pose more questions than answers and sometimes would rather see you fail that help you succeed. This I believe is the advantage of being in a group that shares the same dreams with you, like maybe the TRP community, for they will give you answers and not questions or atleast help you in finding the answer rather than erecting a wall of question that could eventually, if one is not careful enough, kill your dream.
9 Ms. Tsiken // Mar 7, 2008 at 4:59 pm
Yes, we all agree on the same thing and it’s a great thing.
The seminar really motivated me to push myself even more into realizing the dream we all have.
But I guess, not everybody are on the same level of enlightenment. And it’s easier for some people to embrace their Rich Dad and let go of their Poor Dad. I, myself, have been raised on a Poor Dad mentality (to the max - you wouldn’t believe!). It was how I was programmed my whole life and though not wanting to sound like a dream killer, I have struggles and fears to overcome and to overcome those, I need to ask questions and voice out my fears. Probably so that someone can tell me that my fears are unfounded or that they’re normal. I’m sure there are a lot of people in the same boat as I am. But I don’t really hear anyone talk about their fears and I would rather talk about them so I can address them than have them brew inside me. Personally, I think asking questions is your due diligence. Put it out there. Allow those who are patient and willing to change your thinking. Now “dream killers” on the other hand, in my opinion, won’t even bother to ask questions. They’ll just shoot you down. And even if they did ask questions, those are questions that whatever answer they receive, their minds have been set.
That’s why I’m also glad that there’s discussion here. It will help other people wanting to take the leap too.
And that’s why it helps to seek out people who share the same goal as yours so you can grow together.
Ultimately, the only dreams “dream killers” can really kill are their own.
10 Ms. Tsiken // Mar 7, 2008 at 6:18 pm
PS
I also think that not all “dream killers” are out to kill your dreams. They’re like that because they’re concerned about you and they don’t really know any better.
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