In 2001, I moved from my mom's basement in Atlanta to New York City. I was 22 years old and wanted to be a millionaire. I didn't have wealthy connections or mentors, but I wasn't deterred.
For inspiration, I looked to people I knew who lived rich lives, like my childhood basketball coach. One ran a medical supply business and the other invested in real estate. Without their influence, I would not have achieved my dreams today.
Now, I am a self-made millionaire with 366 units in my real estate portfolio. I run my own business and coach basketball in my spare time. Here are his 5 habits that helped me make my first million dollars.
I never saw the coach wearing anything other than a jersey. They were their own bosses, so they dressed how they wanted.
It was a stark contrast to the parents of his teammates, who rushed to pick up their children from the office after practice, exhausted and wearing power suits.
Coach's sense of freedom and authentic approach to life gave me a blueprint. I don't spend all my time and energy on how things look on the surface. Instead, I invest in my quality of life outside of work. I still don't know how to tie a tie.
My shot was the worst on the team, but my coaches didn't do anything to improve it because I was a good defenseman. They encouraged it and helped me get even better.
It taught me that everyone has weaknesses and that it's okay. The most well-rounded player doesn't always make it to his NBA, but skill specialists often do.
To increase your wealth, be the best at something. It was my natural instinct to find off-market homes that people were willing to sell. I focused on that instead of aiming for the same house as everyone else. This strategy created even more trading and networking opportunities.
I'm sure my coaches could have spent the afternoon making more money. However, they understood that time was most valuable and wanted to spend it coaching basketball.
They taught me that true wealth is dedicating your time to the things that really matter to you. I focused on investing in real estate and building a business so that one day he wouldn't have to spend 40 hours a week in an office.
Currently, my portfolio is managed by a property manager and I have a virtual assistant. I have complete autonomy over my day.
Greed is not a requirement for a rich life. Even though they were busy people, my coaches were always generous with their time and consideration.
I often provide advice and connections to homeowners. Because I feel satisfaction and joy in making a difficult process a little bit easier. That led to many introductions, off-market deals, and leads into my real estate agent business.
The truly wealthy donate without expecting anything in return, and the rewards they receive are exponential.
My coach always emphasized hard work and never expected perfection. If you try new things, failure will be rewarded. I suspect they ran their businesses the same way.
Trying again and again is how you get to the top in business. There are no shortcuts.
I have built a strong reputation as someone who will go the extra mile and try anything for my clients. By focusing on my efforts, I was able to pursue success above all else, even if it led to failure.
Alan Corey He is also a podcaster and real estate entrepreneur.he is a co-founder house money mediaa company and author specializing in building first-generation real estate investors. “House FIRE: How to become a hot real estate millionaire with plenty of time and money to burn.” follow him twitter.
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