Getting Rich with Other People's Money



Posted: Tuesday, January 17, 2006

by
http://www.themillionairemakerbook.com

So, you want to become a millionaire. It's a worthy ambition because there's a lot of good you can do in the world with several million dollars at your disposal.

But, philanthropy isn't the primary focus of this article. I've made millions of dollars for myself by using other people's money, or OPM as we fondly call it. Now, I teach others how to become millionaires by using a proprietary process I call The Wealth Cycle™.

One of the key components of the Wealth Cycle is the use of cash and assets to accumulate more assets. Asset allocation, asset redistribution, and asset creation are the primary tools of rich people and, if you want to become wealthy, you'll learn how to play the same game.

You don't have to have money to make money

Most people believe that they have to have money to make money. Not so. You just have to be active - often very active.

For example, instead of working a standard 8-5 job and mowing the lawn or playing golf on the weekend, millionaires in the making are scouring their county, state, or even other counties and states, for business opportunities.

It can be a very slow game at first, but once you get things rolling, you can't stop. It's addictive, and my clients like to say that they have become "Asset Junkies." They love buying assets, and more often than not, they're doing it with other people's money (OPM).

Here's just a few of the types of deals I have my clients looking for:

· land development deals (raw land for high-end condos)
· preconstruction (investors "purchase" home in advance of construction)
· residential or commercial real estate
· pre-foreclosure properties
· flips (buy fixer-upper cheap and sell immediately to a builder)

My clients are also scouring their regions for good deals on:

· mobile home parks
· storage facilities
· equity-producing properties

In each of these cases, you'll be the deal-maker who gets your cut of the profits or monthly income. The beauty of working this way is that you don't have to always use your own money or credit to make the purchase. You're using OPM as much as possible, which builds your asset base and gives you extra cash each month.

Spend to earn, don't earn to spend

Here's the tricky part for most people. When you get that bundle of money from the sale of the property, or receive your monthly revenue check from the rental property, don't go out and spend it on nice toys.

Instead, use your cash, and the equity you've built up on prior purchases to buy more assets - look for additional properties and deals into which you can directly invest.

Many of my clients are also putting together substantial purchases of growing businesses. Again, they'll use OPM to make the purchase (generally only to "qualified" investors), taking their cut on the back end.

Then, like the smart investors they are, they'll use the money they make to invest in even bigger and more profitable deals.

The end result? Wealthy people generally won't touch an investment that gets less than a 12% annual return. They know that by using OPM, they can be involved in much bigger deals with a significantly larger payout.

You can too… if you learn how to play the game like a millionaire.

Wealth building is possible for anyone who learns and uses the right skills at the right time. Loral Langemeier literally creates millionaires, and she does it using a well-honed and tested system that anyone can learn. Creating sustainable wealth does not need to remain a mystery! Order your copy of Loral Langemeier’s book, The Millionaire Maker, today: http://www.themillionairemakerbook.com





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