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Having been a huge Robert Kiyosaki fan for about 5 years, I think I have soaked up pretty much all the books and courses he has offered on Real Investing. One concept he really drills home is the concept of OPM or Other People’s Money.
As he explains this offers a lot of benefits;
Robert Kiyosaki Review Point 1
It’s pretty hard to buy a $200,000 house if you don’t have $200 K in the bank. If you wanted to invest in real estate for profit, but don’t have the cash, then using other people’s money is a great way to do it. A bank or private lender can flip the bill for the property, you thereby make more than you have to pay back, and you have made profit.
Robert Kiyosaki Review Point 2
Even if an investor has a barrel full of cash, you want to use as little of it as possible. For example, let’s say you have a property that you can buy for $200,000 dollars. His analysis says that it will resell for $250,000, a $50,000 dollar profit
You have two options, buy with your own cash, or get a loan and only have to spend $20,000 down payment of your own money.
If the investment pays off, either way, you have made $50,000 minus the cost of the loan you paid.
If the place for some unforeseen reason goes completely belly up, and you have to go into foreclosure,
Well if the investor bought the house with just his money, he has lost $200,000. If he used a loan, well guess what, you have only lost $20,000… Sucks to be sure, but you can recover, and you still have the remaining $180,000 to invest.
Robert Kiyosaki Terrible Advice?
So is this good advice? Sure is, in fact, investing with other people’s money is the number one way for people of little means to get rich. However, there is a huge problem.
Today, banks to don’t loan like they did when he wrote his books, if you are going use other people’s money in today’s day and age, you are going to have to find creative ways.
If you do that, there is actually more opportunity now for money making deals than there were when Robert Kiyosaki was getting started, you just have to get the right education to show you how.
To learn creative OPM solutions click here… http://www.reeasyinvestorcourse.com/
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