Rich Dad's Advisors: OPM: How to Attract Other People's Money for Your Investments--The Ultimate Leverage (Paperback)

by Michael A. Lechter (Author), Robert Kiyosaki (Foreword) "How do you get out of the rat race?..." (more)
Key Phrases: nonreporting issuer, prospective financial statements, rich dad, Other People's Money, Rich Dad, United States (more...)

Editorial Reviews

Product Description
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.

About the Author
Michael A. Lechter is a member of the law firm of Meyer, Hendricks, Victor, Osborn and Maledon in Phoenix, Arizona, and has specialized in intellectual property law for more than 20 years.

Product Details

• Paperback: 352 pages
• Publisher: Warners Business Books (February 2004)
• Language: English
• ISBN-10: 0446691852
• ISBN-13: 978-0446691857
• Product Dimensions: 8.9 x 5.9 x 0.9 inches
• Shipping Weight: 14.9 ounces (View shipping rates and policies)
• Average Customer Review: 4.2 out of 5 stars See all reviews (13 customer reviews)
• Amazon.com Sales Rank: #10,529 in Books (See Bestsellers in Books)

  Popular in these categories: (What's this?)

  #3 in	Books > Nonfiction > Law > Intellectual Property
  #16 in	Books > Business & Investing > Business Life > Ethics
  #42 in	Books > Business & Investing > Investing > Introduction

Customer Reviews

Most Helpful Customer Reviews

32 of 32 people found the following review helpful:

4.0 out of 5 stars Good starting point......, January 4, 2006

By	Shane A. Brewer (Canada) - See all my reviews (REAL NAME)

OPM (Other People's Money), part of the Rich Dad series, focuses specifically on how to obtain other people's money in order to grow your business. This book is one of the beefier books in the Rich Dad series and also starts to focus on specific techniques rather than conceptual ideas.

Author Michael A. Lechter starts off by describing what OPM is, gives a listing of the different types available, and explains the advantages and disadvantages of each type. Michael then writes about how one can attract OPM through strengthening different aspects of the business. Finally the book finishes with an in-depth description of each type of OPM including where to look for it, the motivation of the people giving you the money, how to avoid pitfalls and different preparation techniques.

This book is a welcome change to the Rich Dad series as it gives more specific advice. However, there still is a lot of subject material that is out of the scope of the book so be prepared to read additional material. This book is an excellent starting point for the beginning entrepreneur, but the experienced business owner will likely find this book to be elementary.

Michael Lechter's writing style is concise but can be a bit dry... but you expect that from a lawyer. I stopped counting the number of times he plugged his other books. Once is fine but Michael points it out so many times that it got annoying. Finally the material is suited for an American audience only, so if you aren't opening a corporation in the United States, this book might not be for you.

Regardless, this book is a good starting point in the hunt for OPM. 4 out of 5 stars.

25 of 26 people found the following review helpful:

4.0 out of 5 stars Extremely Important Concept , March 16, 2006

By	Kevin Kingston (ny) - See all my reviews (REAL NAME)

Using other people's money to buy appreciating and cash flow generating assets is the purest act of modern day capitalism and is what this country is all about. It is imperative that anyone wanting to grow a business and create wealth understand this concept thoroughly; especially if you want to create massive wealth.

Warren Buffett's $40 Billion net worth started with OPM as did Harry Helmsley's and Ron Perelman's. In fact Ron Perelman raised several hundred million in Milkin money at roughly 14% before he even had a place for it. He then went on to buy companies that allowed him to pay the interest and eventually pay back the money and presto he has a $3 Billion net worth now (give or take a billion).

This book is a bit repetitive, but is extremely thorough, (after all it's written by an attorney) listing 15 search engines and the web address of 30 VC or angel investors that look for deals to invest in all day long.

Honestly it's really a very simple concept. Find a deal that works, a deal that makes a lot of sense and everyone will want to be your partner. In practice though, finding a deal that works takes a lot of searching, but it's worth it.

By Kevin Kingston, author of: A 20,000% Gain in Real Estate: A True Story About the Ups And Downs from Wall Street to Real Estate Leading Up to Phenomenal Returns

My Blog: bloglines.com/blog/KevinKingston

12 of 13 people found the following review helpful:

5.0 out of 5 stars Great book to start a business with., February 14, 2007

By	J. Wilhelm "Property Owner" (Missouri) - See all my reviews (REAL NAME)

I am mainly interested in real estate investment, so this book did not have a whole lot for me. It would be really great if you are looking for capital to begin a business. I just wanted money to buy houses with!!