When someone says the word ‘millionaire’ what do you imagine?
Maybe someone walking out of their new Porsche wearing a Rolex that can pay off your mortgage.
However, the reality is there are 1,000’s of millionaires and multi-millionaires in Australia who you would never pick as being wealthy.
In fact, there was a study of over 700 millionaires in America – reported in a book called ‘The ‘Millionaire Next Door.”
And, it showed how “ordinary” millionaires can be. But, it also showed some tips we can learn from.
8 Surprising Facts about the ‘Millionaires Next Door’
1. Around 80% hold college degrees
2. Most of them are in a low-tech businesses (such as laundromats etc.)
3. A majority of them don’t own expensive cars, and mostly buy American-made ones
4. They have a “go-to-hell fund” that’s enough to last them for at least a decade
5. 80% of them are self-made, and belong to the first generation rich
6. About 20% of them are retired
7. 97% of them own a home that they’ve lived in for at least 20 years.
8. Many of them invest heavily in property
My friend Helen ticks many of these boxes.
You’re more likely to see her at the local play center with her little Son Max, rather than drinking champagne in St Moritz…
However, she has created ‘first-generation’ wealth through building businesses and investing in cash-generating assets.
Her preferred asset class is commercial rea estate – and she currently collects around $50,000 per month net positive cashflow from around 52 tenants.
That’s on average around $1,000 profit per month per tenant!
Not only that, she currently doesn’t have a single vacancy across her portfolio.
This shows the “vacancy rate” problem that some folks associate with commercial can be managed if you know what you’re doing.
If you want to make as much as $1,000 cahflow profit per month – from 1 reasonably priced property – come to this free event.