Business & Entrepreneurship Podcasting with Micheal & Tatiana: Formerly Known as the Watch4thehook29 Mai 2024

Using Other People's Money (OPM)

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How does a business survive? One of the main ways is constant and good financial stability. That financing can come from other people's money, or OPM. OPM is referring to borrowed capital that is used to increase the potential returns as well as the risks of a particular investment. This money must come from legal financial intuitions or registered entities to avoid legal ramifications. Business owners can use legal OPM to upgrade their business, take own investors, purchase items for their business, etc. Using OPM is not a fairly new concept, but it has had a lot of overhauls regulation wise in the past few decades. We are mainly here to discuss legal OPM use and how sometimes you can get more than you bargain for.

We have been very upfront about our adventure into the real estate world and one of main hurdles was obtaining OPM. Our OPM we obtained from a financial lender took us over six months. We had already spent the previous 10 months we were working with another financial institution for them to ultimately tell us they were not able to do commercial lending at that time (talk about being strung along). Yet we are now in the demolition of our 12-unit apartment complex renovations almost 3 years after we officially purchased the property. That part in itself is almost a 31-year journey for me alone. We want you all to tune into this episode to really understand how you may be able to access OPM and the string that come along with that money as well.

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