Reviews for Using Other People's Money to Get Rich: Secrets, Techniques, and Strategies Investors Use Every Day Using OPM to Make Millions

The average rating for Using Other People's Money to Get Rich: Secrets, Techniques, and Strategies Investors Use Every Day Using OPM to Make Millions based on 2 reviews is 4 stars.

Review # 1 was written on 2011-04-14 00:00:00 Mm Ho "Using Other People's Money to Get Rich: Secrets, Techniques, and Strategies Investors Use Every Day Using OPM to Make Millions" by Desiree Smith-Daughety Maximize your financial potential using other people's money. The true success of any entrepreneur is how effectively they use other people's money to best leverage their strategy. It is often considered the way to wealth, and many entrepreneurs use it effectively to propel their wealth. The author talks about the mistakes she made in her own business. Number one was not taking a salary for herself in her business; secondly, she was unrealistic about asking for enough additional working capital for projects. Minimizing doesn't get you to your goals! But she loudly and clearly identifies her biggest mistake as not starting her own business with other people's money. This book will help you focus your opportunities. It will help you take advantage of your options that will build immediate wealth. With the downsizing in corporate America, many individuals have gone off to form their own businesses-some successfully and some not. What are some caveats that you need to learn to best launch your ship? The chapters give you insight into moguls that have successfully used OPM like Warren Buffett, Donald Trump, and Bill Gates. She provides interesting case studies from a broad spectrum of service and industrial businesses that were started using OPM. These case studies are insightful and motivating. It's not only important to have an idea, but to know how to get that vision into reality. She discusses other sources of OPM other than lending institutions or venture capitalists. She gives you plenty of options. Desiree Smith-Daughety discusses the benefits as well as pitfalls of using OPM, and how to plan and prepare for the "Shark Tank"-those that fund you. Of critical importance and interest in this resource is in securing the OPM. What is the interview process like, how can you best negotiate your deal? These chapters are well done, informative and very beneficial to the new entrepreneur. I particularly liked her discussion on contract considerations and how she familiarizes the novice with the questions that need to be considered. She gives several points on how to manage your OPM in terms of marketing, financial projections, and how to structure your debt. This is a good resource from a financial aspect as well as a marketing tool and in it she outlines the importance of branding. A whole chapter is devoted to real estate investment. She also discusses various paper assets such as bonds, stocks, hedge funds, and index funds to familiarize you with these options as part of your OPM management. This is a good resource and you will take away new ideas for action and execution. I received a complimentary copy as part of the www.ReviewtheBookTeam.

Review # 2 was written on 2011-04-02 00:00:00 Matthew Renn Ideally, OPM (Other People's Money)will enable you to gain financial security through investments but it also involves huge risks; one being high interest rates. "The greater they [investor] deem the risk to be, the more interest you will be paying." However, the benefits often outweigh the risks; having access to funding allows you to snatch business opportunities. This book covers the basics. It not only covers the benefits and risks but it also covers important information such as: understanding investor needs and what they look for; creating a business plan; financing options; negotiating deals; managing OPM; and, real estate investing. Investing with OPM is a huge responsibility and requires more than just reading this book. "Using Other People's Money to Get Rich" is written in easy and understandable language. For me, the book was too basic but that only means that I've experienced using OPM and already was familiar with the strategies. I was expecting more and didn't get it. However, that said I do believe this book would be a good start for people wanting to know more about using OPM without getting into overwhelm but encourage further research and reading other books if the interest is there.