Millionaires are super-cool dudes with loads of money (well, that makes a millionaire super-cool in the first place, anyways…).
But, becoming a millionaire ain’t a one-timeone-day process. It requires hard work, patience and some luck too.
However, there are some habits that everyone should follow to enlarge your money and become a millionaire.
Check them out:
1. The future is crypto.
Bitcoins, ripple… okay, most of us aim to keep enough cash-on-hand to make capital calls, monthly payments, and a little extra for emergencies and weddings for three years. The rest goes to entrepreneurs who I think will transform industries.
2. Multifamily real estate and know how to sell.
The primary recession-proof income stream is multifamily, income-producing real estate investments. There are many indications that multifamily apartment investments will continue to be great.
There are 75 million baby boomers headed into retirement. Many of today’s apartment complexes may be converted to retirement communities in the future. Many millennials aren’t buying homes. It’s getting more expensive to build new apartment complexes. No matter what the economy does, everybody will always need a place to live.
3. Buy commercial real estate with high-credit tenants and assets like rare cars.
One, buy long-term leased, credit tenants real estates investments such as anchor grocery shopping centres and high credit single tenants like O’Reilly Auto Parts. Think about it: in a recession, people will repair their used car rather than buy a new one. And people have to eat, so any credit grocery anchor tenants will survive.
4. Invest in basic needs.
In the last 115 years, there have been depressions, world wars, Black Monday, the dot-com crash, the subprime mortgage crisis, and other financial crises worldwide. When you understand how cycles work and the resilience of the global economy, hedging your bets becomes a lot more understandable. However bad the economy is, people still need food, water, and shelter. So, my family and I have invested in large swathes of agricultural land and real estate.
-Com Mirza, The $500 Million Man and CEO of Mirza Holdings.
5. Invest in yourself.
People who want to win in all areas of their lives work on themselves. They invest in themselves because knowledge is power and power reduces your exposure ahead of an economic downturn.
I invest in myself continuously, expanding my education and knowledge base. I’ve programmed myself with an unshakable mindset that I use to decode and recode my clients’ minds and bodies. I’ve also invested, developed, and applied my own proven programs and products over the last 20 years.
