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post #27 of Old 07-17-2013
hellosailor
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Re: What Is A Boat Really Worth?

"There's a concept called OPM - other people's money. Rather then taking cash out of the bank, use someone else's money. I use that in my investments. "
EH, I'd say you've got that backwards, Julie. Unless you are literally stealing their money, when you borrow someone else's money, and presumably pay them back iwth interest, THEY are using YOUR money. You're not using their money.

If you borrowed the money from yourself, you'd keep the vigorish. Borrowing money only works if you can borrow for less than the return you get elsewhere, like taking out a 3.5% mortgage and putting a quarter million in the market at 10% instead. (Which for a while was very possible, not quite such a sure thing right now.)

In the 1970's, when a million-dollar robbery was a BIG one, the DOJ/FBI stats said that something like 90% of those big ones were never solved. They attributed this to professional planning. As opposed to the guys who said "Ah, I ain't got no beer money, let's go rob the 7-11."
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