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

Michael A. Lechter (Author), Robert Kiyosaki (Foreword)
4.3 out of 5 stars  See all reviews (14 customer reviews)

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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
  • Average Customer Review: 4.3 out of 5 stars  See all reviews (14 customer reviews)
  • Amazon Bestsellers Rank: #35,302 in Books (See Top 100 in Books)
    #84 in  Books > Business & Investing > Investing > Introduction

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Michael A. Lechter
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Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
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How do you get out of the rat race? Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
nonreporting issuer, prospective financial statements, rich dad, percent ownership interest, bartered services, general solicitation, nonaccredited investors, personal guaranty, intellectual property assets, factoring company, potential licensees, qualified investors, federal exemptions, grinding equipment, offering memorandum, elevator speech, sales partners
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Other People's Money, Rich Dad, United States, Warner Books, Other People's Resources, Creating Fortunes, Use of Funds, Typical Source of Funds, Louis Cannon, Small Business Administration, Department of Commerce, Department of Education, Garrett Sutton, Chamber of Commerce, Loose Cannon, National Science Foundation, National Venture Capital Association, New Shares Issued, Own Your Own Corporation, Squire Sanders, West Coast
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Rich Dad's Advisors: OPM: How to Attract Other People's Money for Your Investments--The Ultimate Leverage
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Customer Reviews

14 Reviews
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Average Customer Review
4.3 out of 5 stars (14 customer reviews)
 
 
 
 
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36 of 36 people found the following review helpful:
4.0 out of 5 stars Good starting point......, January 4, 2006
This review is from: Rich Dad's Advisors: OPM: How to Attract Other People's Money for Your Investments--The Ultimate Leverage (Paperback)
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.
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26 of 27 people found the following review helpful:
4.0 out of 5 stars Extremely Important Concept, March 16, 2006
This review is from: Rich Dad's Advisors: OPM: How to Attract Other People's Money for Your Investments--The Ultimate Leverage (Paperback)
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
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16 of 17 people found the following review helpful:
5.0 out of 5 stars Great book to start a business with., February 14, 2007
This review is from: Rich Dad's Advisors: OPM: How to Attract Other People's Money for Your Investments--The Ultimate Leverage (Paperback)
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!!
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Most Recent Customer Reviews

5.0 out of 5 stars Fast & Perfect!
The book was shipped very quickly and it arrived in perfect condition! Would do business with again anytime.
Published 6 months ago by M. Khuri

5.0 out of 5 stars just as I spected thank you for serving so good
I am not good writting but the book is excelent and I had a very good expirience shopping at this store
osman
Published 20 months ago by ozzy Gomez

4.0 out of 5 stars OPM: Other People's Money
A true entrepreneur knows how to leverage other people's ideas and other people's money to create more wealth for everyone around them. Read more
Published on August 25, 2007 by L. Huffman

5.0 out of 5 stars The art of leverage
If you really want to be a Real estate investor,then this is the book to purchase.The book is an investment in itself.
Published on June 10, 2007 by Larry A. Amati

4.0 out of 5 stars A good start on the big business picture.
One of the concepts the Rich Dad series has taught me, and you see this throughout the free enterprise system, is that "he who creates the investment gets most of the gold"... Read more
Published on January 21, 2007 by David Etenburn

5.0 out of 5 stars A Must Read For True Entrepreneurs
Michael Lechter's book "OPM" Other People's Money is one of the finest books written for creating financial leverage. Read more
Published on August 3, 2006 by Doug Brown

4.0 out of 5 stars OPM
Only 1/2 way thru, however, an old dog can learn new tricks. I've been a real estate investor for 17 years. Read more
Published on July 5, 2006 by James Reid

4.0 out of 5 stars Great Place to Start To Learn About OPM
Michael Lechter is a powerful addition to the voice of the "Rich Dad" series. For anyone trying to figure out how to start a venture without money in hand, this is a great book to... Read more
Published on April 17, 2006 by The Arkman

5.0 out of 5 stars There's no better investment than someone else's money!
If the thought of being able to build a fortune using other people's money seems like a dream come true then look no further than Michael Lechter's book OPM. Read more
Published on September 29, 2005 by Bill Zanker

5.0 out of 5 stars Harnessing the power of LEVERAGE!
This book is must reading for anyone contemplating starting their own business. I learned more in this one book than I did with a 2 year business degree.
Published on September 24, 2005 by Walt Robbins

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