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ForumsArrowPrivate Lending & Conventional Mortgage AdviceArrowusing OPM
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using OPM

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user profile avatar
  • Posts 1.0K
  • Votes 73

Michael Shadow
Investor from Bellefonte, Pennsylvania

posted about 13 years ago

I'm looking for what people have done to find OPM to use for investing. We have to date only used our cash and our credit to get money. How do we go about locating OPM?

Thanks,

-Michael

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user profile avatar
  • Posts 17
  • Votes 0

Kenneth Ortiz

replied about 13 years ago

I've posted ads in newspapers, ebay, craigslist, every forum website I could find. I printed up flyers and handed them out at investment groups and I handed them out to every friend and family member.

I am a hard money lender using a pool of private investments to lend cash. my first investor was my dad who had $300k in an IRA at the time (it's over $1million in just five years of lending).

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user profile avatar
  • Posts 42
  • Votes 9

Arty Fresh

replied over 1 year ago

@Kenneth Ortiz so are you saying he borrowed 300k from you and in 5 years he turned it into a mil ?

When did he start paying you back / pay off the amount he owe to you

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user profile avatar
  • Posts 7
  • Votes 3

Martin Lewis
from Bedford, MA

replied over 1 year ago

@Arty Fresh . He is saying that he made use of the 300K that his dad had in an IRA to lend out to other investors as a Hard Money lender i think. He has turned his dads 300K into $1Mil in 5 years. Is that correct @Kenneth Ortiz

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Check Rosette Top Subjects:
Traditional Financing, Real Estate Finance, and Maintenance
  • Posts 2.1K
  • Votes 1.4K

Carl Fischer
Rental Property Investor from Ambler, PA

replied over 1 year ago

@Martin Lewis

Don’t the banks do it everyday? Why are you surprised?

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  • Posts 7
  • Votes 3

Martin Lewis
from Bedford, MA

replied over 1 year ago

@Carl Fischer Not surprised just wanted to make sure i didn’t misquote.

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