EP 271 - Don't Fall for the OPM Lie: The Hard Truth About Using Private Money in Your Real Estate Business

What did you think of todays show??There’s a lot of misinformation and confusion about real estate investing out there, from the idealization of using other people’s money (OPM) to the exaggerated success of sub to deals.In this episode, Mike and Dan reveal the truth about the OPM method, challenging the popular narrative that it's an easy and accessible strategy for all investors. They discuss the ethical considerations of private money, the responsibility investors have to lenders, and why so many people seem averse to institutional money.Mike and Dan also share updates on their first commercial property and latest investments, delving into the nuances of creative financing and being a leader in your business.Overall, this episode is a lesson on the importance of having the real estate knowledge to combat the lies you see on social media and close deals through creative financing. Tune in now!Topics discussed in this episode:The ethics of real estate investingWhy your real estate knowledge mattersThe reality of using private moneyClosing on a commercial real estate propertyCheck out the FREE Collecting Keys “Sub To Transactions” Master Class!https://collectingkeys.com/subtoIf you’re an established investor with money to invest, but not the time, check out the Instant Investor PRO Program! https://collectingkeys.com/Check out the Big Dan Energy shirt (and more!) in the Collecting Keys Merch Store: https://store.collectingkeys.com/Download the FREE 5-Step Guide To Generating Off Market Leads here: https://collectingkeys.com/free/If you are interested in learning from Dan and Mike to receive coaching and learn how they built their business, head to https://collectingkeys.com/keyscon-2023/ and see if you are a good fit for the mastermind group!Collecting Keys Podcast Resources:https://collectingkeys.com/https://www.instagram.com/collectingkeyspodcast/https://www.instantinvestorprogram.com/https://www.instagram.com/mike_invests/https://www.instagram.com/investormandan/This episode was produced by Podcast Boutique https://www.podcastboutique.com