Is OPM=bank money?

Is OPM money lent from a financial institution or another way of obtaining money like other investors? Or both?

Do you know what OPM stands for?

Other peoples money

You down with OPM? :wink:

yeah you know me!

OPM is anyone’s money except yours…! It could be a bank, investors, seller finanace, loans against a credit card, loans against the cash value of a life insurance policy, loans against a retirement vehicle (like a 401K, a 403B, etc)…the list goes on and on…



getting OPM is a whole subject in and of itself. there’s an excellent book called “OPM…”

i forget the author - but an excellent read.

OPM is hard to get.

you must have a business model.

especially if you want angel investors and the like.

certain lenders will give anyone with a pulse a loan…watch out for this type of OPM…

Good source of OPM = Sweet smelling, rich, old ladies from Boca Raton.

Max Bialystock is that you?

If you are trying to buy and fix-up, you will have a problem getting banks to give you financing as a newbie. The houses are ugly and the banks aren’t going to lend purchase money and fixup money to a newbie. You will need to find your own contacts who have money or look for the services of a hard money lender. HML’s are great because if you can fog a mirror, your credit is approved. If you are just trying to wholesale a property to another investory, you don’t need a bank or an HML. All you need is an investor with cash. If the deal is cheap enough, those aren’t hard to find. Call the I Buy adds in the paper. Call Homevestors. Go to a foreclosure auction at the courthouse. There you will find hundreds of people with lots of CASH.

Happy Investing!!
Brandon Lambert

Ha Ha Ha ;D

Thanks for the laugh!