Monday, December 3, 2007

So what does a multi-millionaire look like?

(You drive what?)
He drives a beat-up, rusted pickup truck and looks no different that the guy next door. He is the proverbial millionaire next door.

Tim is a real estate investor. Currently he has about 50 rental properties, a new land development project and some other projects. He started making money when he was in school fixing cars, then moved to carpentry, then to fixing investment properties ... I have been considering investing in rental property so I wanted to seek some advise from Tim.

Tim not only enlightened me on real estate investing, he showcased some other qualities which have made him successful.

Passion - Tim has pursued his passion. He wasn't chasing a degree or money - he simply started doing what he was good at and enjoyed doing. Real estate investing is not a chore for him but each project is an adventure. He enjoys it and that makes a huge difference in your life - monetarily and emotionally.

Humility - Tim was down to earth, pragmatic and respectful. He was willing to spend an hour with me and counsel me on the nuances of the rental business. His philosophy was simply - I help you today and someday you may help me.

Frugal - Tim was not driving a luxury sports car or wearing expensive clothes or jewelry. He was wearing regular clothes and eating lunch with me at a regular restaurant. His net worth is in the millions but there was no ostentatious display of wealth.

We know it's all about hard work, perseverance, passion and humility but meeting a real life example is truly motivating.

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1 comment:

Dawn said...

I have family members and a few friends that are multi-millionaires, and they look just like most of us "middle-class" folks.
They are all self-made and have always lived below their means.
They are hardworking, frugal, and very passionate about what they do.
And they are charitable, generous, and very kind.
I think there are a lot more "financially successful" people around than we think... they just don't look like what we think they should look like.
We gotta realize they are just like us... they just keep on doing, when some of us give-up!
(Side note... all of the people I have mentioned have accumulated the majority of their wealth through real estate investments... as well as the stock market).
Good post... I don't think a lot of us realize we all have the potential to achieve... we just need to live up to that potential!