No Money Down – OPM & OPC
Can you buy a Real Estate using somebody else’s money? And somebody else’s credit? Absolutely!
Today we’ll talk about one of my favourite no money down strategies which is Other People’s Money & Other people’s Cash.
OPM! OPC! Other People’s Money! Other People’s Credit! One of the best strategies for launching into no money down real estate comes down to realizing that your greatest resources are not found within you but from the out.
Stop doing this by yourself
Together, we the Human Race have a tremendous resource. For this strategy to work you have to expand your horizon, you have to network, you have to meet people that have the money and, work with people that have the credit.
I have done countless of deals where I brought the deal to the table, someone else had the money, and someone else did the credit.
There are lots of version of other people’s money but the one that I favour the most is using my circle of influence. There is no doubt that in your circle, you got people that want to get ahead just like you do and they have a plan as well on how they want to break free from what society has set.
Whether you do or you don’t have money, people are around you that do.
Did you know how most real estate gets funded?
With money that are saved up in a 401K, with money that are saved up in IRA, with other qualified accounts
Not everyone is willing to take risks.
Do people walk around thinking “yeah we should totally use my 401k or IRA to buy a real estate”? The answer is No! This could be the riskiest thing for them to do that’s I why they put in their 401k or IRA because it felt like it’s the safest thing to do.
Most people are too afraid that if they try to touch their money they’ll end up paying taxes and penalty and as a result they sit and do nothing.
Listen, if the plan cannot get you to where you want to be then the plan is broken! If you don’t want to end up broken or broke, you need to do some different things!
The riskiest thing for most people is to do nothing.
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