How to get Rich! - OPM or Using Other People's Money

I show the basic concept of using other peoples money rather than your own, so you can 'leverage' your profits, by using less of your own money for investments.

[@ladystalker3953]

Simple & efficient explanation for any beginner. Thank you

[@VeenavSharma]

Thank you so much , u explained it in a very simple language😃

[@arthurperretta9834]

I have one question. If you borrowed $90,000 from the bank. Than sold it, wouldn't you owe more than the 90K, since the bank is charging interest? Since the bank is making money on their 'investment' you'd have to pay off the future value of the 90K. Please let me know if I'm over thinking this.

[@VAL_ON_WHEELS]

Maximum is 25% interest. But if you sum up more money out of that 90k then making a equalised 25% then there is no interest. Sometimes banks can cut off the money when u sell the house charged as per the contract. If the price goes higher rate or if sold at a lower rate some percent of interest will be cut.

[@saurajitchakrabarty7145]

Really easy and beneficial...thank you

[@lilnoro1694]

Thank you very very much.This is very helpful video 😄

[@hafsata.yakubu5937]

Waaaaaw, what a brilliant explanation!

[@rjrajib9045]

Perfect idea and your technique also thanks for this

[@BrettGossage]

My pleasure 😊

[@ka-trip574]

Clear illustration

[@Me27399]

what about interest to be paid on the loan?

[@jenniferoviawe]

On the flip side they don't care about the current present value of ones gain they just care about the payments and especially the interest the incurs for the cost of borrowing

[@perryd43]

Thank you for the 101 OPM post neighbor.

[@BrettGossage]

No Problem!

[@onbonnt.v.2483]

Awesome how you explain this so simple but I'm just curious, what about the risk of a job loss or an illness? Thanks in advance. And by the way any recommendations on books or videos that go more in depth about this

[@obeythelaw5504]

You can buy insurance. Thus you will make a smaller profit. But you will have hedged the risk.

[@42lookc]

Mortgage insurance.

[@harpalsinhjadeja2568]

what about interest

[@abccolony]

How can i use this model in with my music career? Any tips what i can use my opm money on?

[@Vano287]

Where you live, don't they look at your income to validate the mortgage? I am living in the netherlands, and we can't get a mortgage with only a down payment. Have you got any idea, how I could get a mortgage with only down payment?

[@Zk8et]

thank you, this is the same way robert kiyosaki does it right? because he said if i SHOULDN'T use my own money and instead use OPM

[@BrettGossage]

Yes - I admire some of the philosophies of Robert Kiyosaki - A lot more people should listen to what he has to say...

[@saurajitchakrabarty7145]

It would be really helpful to know how to use other people's money and get a loan from bank...thank you

[@sacarchy]

He told this in first 1 minute 5 seconds.

[@olayemiganiayoplateaugania7241]

Please I just want to buy a house in Italy. please how do I go about it. Thanks

[@mariegulley7909]

You don't factor in the payments made in the mean time. Okay so you have $10,000, get a loan for $90,000 from the bank, totaling $100,000. You give the $100K in exchange for the house. Now you are + a house worth $100K, but -$90K @ 3% a year. The house on average will go up about 2%-3% a year. (3% of $90K is $2,700.) (2.5% of $100K is $2,500.) So this doesn't work. You don't buy a house for $100K and the next week sell it for $150K lol

[@walterneves5978]

so you actually made 40k hehehehehe