OPM: How to Attract Other People's Money for Your Investments–The Ultimate Leverage
It’s Saturday and that means it’s time for another Burbed book of the week. Today, let’s look at:
Cash flow is the foundation of every successful business, but investors do not have to start with their own money to build a business. Money can be made by acquiring an asset, turning an idea into a fortune, or building a business, using other peoples moneyOPM. This book will discuss different forms of OPM, how to find OPM, the consequences of using OPM, and the legal aspects and pitfalls of trying to access OPM.
Another book from the Rich Dad series.
Personally I love phrase OPM. I remember people dropping it oh so liberally in the good ol’ days of 2005. OPM this, OPM that. What? You’re not OPMing? Oh, I am so OPMing! OPM BABY!
Or… my back hurts! What do I do? Get some OPM!
Let’s bring the cult of OPM back. Build some statues, erect some temples. Let’s bow before the god OPM and see how He can help us all become rich!
May 23rd, 2009 at 10:27 am
Remember, all you need is a .com at the end of the name and people will invest, invest, invest!
May 23rd, 2009 at 11:29 am
just noticed this little money maker, now a short sale:
1725 MILLER Ave
Los Altos, CA 94024
Price: $1,500,000
and, wait for it, Oct 19, 2004 Sold $1,925,000
DOM is 2 days and short sales are strange, but these folks have already lost their 10% down and we taxpayers are going to lose more courtesy of countrywide.
Lender # 1 Countrywide Home Loans Inc
Loan amount # 1 $999,950
Rate type # 1 Variable
Lender # 2 Countrywide Home Loans Inc
Loan amount # 2 $732,550
Rate type # 2 Variable
recast time on an option ARM, perhaps?
May 23rd, 2009 at 12:09 pm
That’s a really strange loan split too. Normally we’d see 10 down/10 second/80 first mortgage. Maybe it was stated income too?
May 23rd, 2009 at 12:23 pm
I pick on los altos often, well, because it is imploding. but, here’s a little love for hillsborough, a founding member of the OG RBA:
in the affordable range:
750 BOWHILL Rd
Hillsborough, CA 94010
Price: $1,895,000
Jul 09, 2002 Sold $1,850,000
one for burbed (from the listing)
“WARNING!!! property is in very bad condition please”
1365 HAYNE Rd
Hillsborough, CA 94010
Price: $1,350,000
Mar 29, 2006 Sold $1,641,000
Oct 21, 2004 Sold $1,280,000
some short sale action:
1006 BLACK MOUNTAIN Rd
Hillsborough, CA 94010
Price: $2,100,000
Jun 23, 2005 Sold $2,400,000
Jul 21, 2000 Sold $1,980,000
time for a price cut after 107DOM?
2755 RALSTON Ave
Hillsborough, CA 94010
Price: $5,295,000
Oct 31, 2002 Sold $4,550,000
May 26, 2000 Sold $5,000,000
Jan 22, 1990 Sold $3,500,000
n.b., if the 1990 buyers held, would that mean it would be worth $14M next year?
staying with the high end and high DOM theme:
180 ROBIN Rd
Hillsborough, CA 94010
Price: $6,400,000
DOM: 495 days
Feb 01, 2001 Sold $7,900,000
and, finally, some real price discovery
15 CRYSTAL SPRINGS Ter
Hillsborough, CA 94010
Price: $1,590,000
Dec 31, 2008 Sold $2,611,516
Dec 10, 2004 Sold $2,200,000
Aug 15, 2000 Sold $2,000,000
the ’08 sale was the foreclosure. some nice cash-out REFI there and now bank-owned and priced to move
10 CRYSTAL SPRINGS Ter
Hillsborough, CA 94010
Price: $1,700,000
Mar 18, 2009 Sold $2,250,000 (the foreclosure)
Mar 02, 2006 Sold $2,600,000
May 25, 2000 Sold $2,390,000
completing the REO doulbe-shot for a very lucky street
I wonder what will happend when these become comps? Bueller? anyone?
May 23rd, 2009 at 12:23 pm
Meanwhile another bank has failed. Second largest after last year’s IndyMac failure. The FDIC is out $4.9 Billion.
http://www.businessweek.com/ap/financialnews/D98B4UCO0.htm
May 23rd, 2009 at 6:33 pm
thanks for the compilation of information, lower case steve.
May 23rd, 2009 at 9:18 pm
> [...] lower case steve
anon, do you work for the department of redundancy department?
May 24th, 2009 at 12:17 am
n.b., if the 1990 buyers held, would that mean it would be worth $14M next year?
—-
Yes, home price doubles in every 10 year. Therefore 2755 RALSTON Ave is your golden opportunity for becoming wealthy. Buy this home for $5.2M today and next year you will be able to sell it for $14M.
May 24th, 2009 at 11:34 am
actually, uppercase herve, i do.
May 24th, 2009 at 8:33 pm
Heck. All you have to do is come up with some stupid invention and have Billy Mays sell it for ya.
May 24th, 2009 at 10:43 pm
billy mays is an amateur. you want sales? get the shamwow guy,, lol.
May 24th, 2009 at 11:36 pm
did you hear about the shamwow guy’s legal troubles?
http://www.thesmokinggun.com/archive/years/2009/0327092sham1.html