- Paperback: 256 pages
- Publisher: Little, Brown & Company (4 Nov 2004)
- Language English
- ISBN-10: 0446691852
- ISBN-13: 978-0446691857
- Product Dimensions: 15.6 x 2.5 x 22.9 cm
- Average Customer Review: 3.0 out of 5 stars See all reviews (2 customer reviews)
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421,711 in Books (See Top 100 in Books)
- #41 in Books > Business, Finance & Law > Professional Finance > Venture Capital
- #51 in Books > Business, Finance & Law > Personal Finance > Property & Real Estate > Investments
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Product Description
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 People's Money - OPM. If one has a credible idea or business proposition, does their homework, and builds a proper foundation, OPM in one form or another should be available. This book will discuss the different types and forms of 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.
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Customer Reviews
Most Helpful Customer Reviews
7 of 8 people found the following review helpful
Format:Paperback
This book is rather specialized, but very useful. I thought that attracting other people's money is the hardest part of business before reading this book. Now I realize how simple it is. M.Lechter, thank you.
Format:Paperback
After reading more of the kiyosaki's series of books i found this the less usefull because it doesn't really tell you the secrets of getting other people money rather the author goes on explaining what is a goverment grant which is a type of OPM or why you should do a business plan before going to the bank or ask your familiy or friends for invesment and so on.....they are giving you tips that the decent invester already must know in conclusion if youu are looking for new ideas buy another book...
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
17 reviews
44 of 44 people found the following review helpful
Good starting point......
5 Jan 2006
Format: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.
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.
29 of 30 people found the following review helpful
Extremely Important Concept
17 Mar 2006
Format: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
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
13 of 14 people found the following review helpful
A Must Read For True Entrepreneurs
4 Aug 2006
Format:Paperback
Michael Lechter's book "OPM" Other People's Money is one of the finest books written for creating financial leverage. The information teaches anyone how they can take an idea and truly turn it into a significant financial gain without risking their own capital.
You do not need money to become successful. You need a worthwhile idea and other people's money and or resources to bring that idea to fruition. Don't shelve your dreams due to lack of cash flow. One idea in this book provided me with over $30,000 in other people's resources and I did not give away equity to do so.
After you read this book then lack of cash flow is no longer a reason not to transform your ideas into reality. Apply the knowledge in this book and you have more than a short-lived chance of success. We have all heard the saying that knowledge is power. Once you have learned the information contained within this book you will have the power, you just have to apply it.
The material is straight forward. This is a must read for anyone that considers themselves a true entrepreneur. I learned more about cash flow and understanding how to attract other people's money and resources in this book than I did in six years of college.
If I had this information prior to starting my entrepreneurial life I am sure I would be 50 times wealthier today.
Thank you Michael, You Rock!
You do not need money to become successful. You need a worthwhile idea and other people's money and or resources to bring that idea to fruition. Don't shelve your dreams due to lack of cash flow. One idea in this book provided me with over $30,000 in other people's resources and I did not give away equity to do so.
After you read this book then lack of cash flow is no longer a reason not to transform your ideas into reality. Apply the knowledge in this book and you have more than a short-lived chance of success. We have all heard the saying that knowledge is power. Once you have learned the information contained within this book you will have the power, you just have to apply it.
The material is straight forward. This is a must read for anyone that considers themselves a true entrepreneur. I learned more about cash flow and understanding how to attract other people's money and resources in this book than I did in six years of college.
If I had this information prior to starting my entrepreneurial life I am sure I would be 50 times wealthier today.
Thank you Michael, You Rock!
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