Have you taken a good look at your finances lately? Maybe you don’t want to. Leaning more on the negative in your account than positive? Or just wish there was more in there to spend? What kind of spending habits do you have? Are you spending your money on coffee or a quick trip to store for a couple things that turns into a $300 of what you didn’t plan on?
Now you’re feeling worried because you spent your hard-earned cash that you saved on a compulsive purchase. Yeah, we’ve been there too. We bet you’re thinking, “I wish there was a way to keep all my cash in the bank and still be able to buy things and even better, invest and make money!” But how is that even possible without using my own money?
that keeps money in investors pockets but allows them to still be able to own properties and make a return is by using Other People's Money (OPM). When you learn this strategy correctly, you will learn to use this in every aspect of your life. I’m sure you’re thinking, “Oh yes, using my credit cards will rack up my bill!” Credit cards can be a GREAT tool, when used CORRECTLY from an INVESTOR mindset, NOT a consumer’s mindset.
Investors look at it with the perspective of the return on investment (ROI) and the consumer views it as, how much will this cost me.
can be used as a tool to leverage investments, you can use OPM in many ways. For example, most of us are aware that on average, credit cards typically have high interest rates. But what if you use a credit card toward rehabbing a property and are able to flip it for a profit? That allows you to pay off the credit card and puts money in your pocket. Think about that a little more, you used OPM without taking your own personal money.
How about an unsecured loan from a bank or peer to peer lender to do the same? These are just a few ways to use OPM. Depending on what you are looking to do, we have many ways we can teach you creative financing. A great way to get started in real estate investing, not only for beginners, but for those with troubled credit and may have little to no capital is to learn the Wholesale strategy.
With wholesale you are using none or very little of your money and none of your credit. The point is to have money work for you and learn how to leverage that with your financial goals. Learn how to change your consumer mindset to an investor mindset and maximize your ROI with Legacy’s Building Wealth Club.
Legacy’s Building Wealth Club offers you the financial education needed to pursue your goals. Let our education and experience lead the way!