117-Partnering Your Way To Riches With OPM
It is with great pleasure that after investing in real estate since 1979, I can present to you one of my prized accomplishments and secrets. I have bought more than 30 million dollars in real estate where I did not put up a penny of my own money. It was other people?s money (OPM) that made it all possible. I?ve never disclosed to anyone, before now, how this was possible, or even how my big project achievements had been accomplished.
The other day I was discussing this program with a student. I had just finished this book that morning, without the Preface, of course. (Personally, I like to write that last.) I was so excited; I just had to tell her about it. She asked, ?Why did you decide to share it now? What?s different than before??
It all started when my marketing people suggested that I give a 3 hour presentation on PARTNERING in Orlando, Florida at Disney World. I had initially intended on preparing an 8-12 page presentation with handouts, allowing for class discussions and participation. In those situations, I also enjoy some class interaction and role-playing.
Once I began writing I couldn?t stop! Before I knew it, instead of having a few pages I had 3 chapters written and it became a runaway train going 100 miles per hour. It grew to 4 chapters, then 5, then 6, and then you know what happened. I really enjoyed writing this fresh, secretive topic. It just got crazy!
The partnership topic developed a life of its own and became much larger than I had anticipated, or imagined. In other words, I had never planned to disclose my hidden secrets on partnering. As you can see, it was an accident how it happened.
Throughout my entire life, I?ve always taken short-cuts. Everybody knows that about me. Whether it was homework in school, or cramming for an exam, I always looked for the shortest distance between points A and B. At the end of the day, it was always a straight line. Why read an entire book when I can buy Cliff Notes? (Cliff Notes are a small pamphlet that summarizes all of the chapters.) Anytime there was an obstacle, I went through it, jumped over it, or crawled under it. That?s me. That?s the summation of my life. I don?t always take pride in this fact. Sometimes it?s a curse, but that?s just me.
My investing and home study courses are evidence of that. They include every possible short-cut I?ve taken over the last quarter century. They are, both directly and indirectly, my autobiographies. They are, essentially, my lifetime achievements of short-cutting.
Partnering, to me, is the essence of short-cutting your way to multi-millionaire status. The logic is to avoid the laborious task of saving your way through life until you can finally have the money to do something. Essentially, partnering means to use other people?s money to buy now what you would ordinarily have to wait many years, if ever, to buy yourself. Rather than waiting and striving 20 years until you can afford it without a partner, after achieving a certain level of success, you can expedite the purchase and buy it now. This allows you to start at a higher level sooner, thereby enabling more of your lifetime to invest in higher dollar properties. In other words, rather than starting at the bottom, you start at the top. (Why start as a desk clerk and spend your lifetime working your way up when you can start by owning the hotel?)
I remember reading years ago where a young man in his early 20?s wanted to get married. He desired her parents? approval. Her father wanted a responsible husband with self-discipline and frugality for his daughter. The father required evidence of $1,000 in savings by the fiancé in order to gain approval.
After six weeks, the young man showed up with a savings account statement with $1,000 in it. Her father gave his approval, and they were subsequently married.
To make a long story short, the newlyweds had quickly figured out that all they needed to do was apply for, and receive, a VISA® card. The card came in the mail, and they simply took a cash advance and opened a savings account. Voilà, a marriage was born.
They wanted to get from point A to point B in the shortest period of time. My path is straight through, or with obstacles that I jump over or climb under. That?s no different than what the young couple did here to obtain her father?s approval and marriage blessing.
What is my path? My path starts at birth and continues until death. I want to become a millionaire, sooner than later. I have a Type-A personality, so I?m in a hurry.
Consider my life as a straight line that stretches from left to right. On the far left is where I was born. On the far right is where I will die. (I?m not one of those people who think that they?re going to live forever.) I want the mark that represents I?m a millionaire as far to the left as possible, closest to birth. That means that I would have the rest of my life, on the line after the mark of millionaire, to live in comfort.
Notice that I equate money with comfort, not happiness. The movie stars in Hollywood can vouch for that.
Anything that I can do to speed up the process, continuing to be fair and honest, should be done to increase my, and my family?s, quality of life. Essentially, I only have so much time on this earth, so I want to make as much money as I can in the shortest period of time.
This book teaches you how to examine situations and scenarios in a new light by seeing them from many different perspectives. You will learn to consider many alternatives, rather then just one viewpoint, when analyzing a deal. This gives you a world view, so to speak, when considering project strategies.
Again, it is with great pleasure and joy to introduce to you many of my most guarded secrets. Good luck becoming a multi-millionaire!
H. Roger NealTM
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- Item #: 117
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