Transferring Debt Like a Bank to Finance Deals
I just attended the Rich Dad Education 3 day training. They talked a lot about transferring debt as a bank would to fund deals. For example banks use money deposited into CDs to loan out to people at a higher interest rate never using their own money. The concept I'm learning is just to utilize less of your money and more of other peoples money for a greater ROI. They talked about utilizing credit cards and paying those off with peer to peer lending and paying the peer to peer with the cash flow from the deal etc. I understand this can't be utilized for every deal as your credit may not allow it but was wondering if the community has insight with these types of funding. Maybe you could provide your experience with this concept and other creative ways to use OPM? Thanks in advance!