Millionaire tip of the day- The definition of "LOSER"

[STR8UP]

Originally posted by Cappy da pimp
Guys I cant agree more with you. I just recently had the privalege of hearing Dr William Danko, co author of The Millionare Next Door speak at my university. Actually hes a professor and I should have a class with him next semester.

A word of caution-

The book "The Millionaire Next Door" is a good book for illustrating the profile of the "average" millionaire (someone who takes most of their lifetime to acquire it). This book would be more accurately titled, "The Middle Class Millionaire Next Door", since it fails to acknowledge how time plays into the equation. Understand that if you want to become wealthy in a short period of time (less than 15 years) you will need a different strategy than the "average" millionaire.

 

[STR8UP]

Originally posted by WORKEROUTER
Str8up:

What would you suggest for me if I wanted to make these kind of connections? How would I go about finding people and doing it? I know I can read books and educate myself that way, but I really don't have any connections of the sort that you describe?

Good question.

The bad news is that if you are young, it can be hard to find someone who will take you seriously.

The good news is, people who learn how to solve problems (such as being too young to be taken seriously) are the same people who reach the top financially.

I haven't personally been involved in a real estate investment club, but I would assume that even if you don't own property the dues you have to pay to join would be one of the best investments you ever make. If you show the successful investors that you are willing to do whatever it takes to learn, it's likely that they will gladly teach you everything they know.

The thing is, you have to be really careful not to screw it up. If you find someone who is willing to teach you what they know you have to give it 110% or your mentor will drop you like a hot potato. I would gladly teach someone in exchange for helping me out with whatever I needed done, but I value my time in the hundreds if not thousands of dollars per hour range, so I wouldn't give someone very many chances to jerk me around before I cut them off.

 

[Socialreject]

Great post STR8UP. Very well defined!

Mark is essentially a very lucky guy. He's got all the right connections already, all he needs to do is change his attitude and he's almost guaranteed golden.

Being a loser is something you choose to be really. You know when you are one, it hurts, it makes you angry and while you might not know what it is making you angry and depressed, there comes a time when you have to self reflect and become a man.

I've not met a single honorable man who is a loser, eventhough some i know are quite poor (dead end jobs). Nothing wrong with this. They are simply not ambitious enough and are happy with what they have.

I remember a time, years ago, when my head was stuck up my ass and i was almost exactly the same as Mark (although i never expected anyone to pay for me because i did have some values). It wasn't untill someone who i respected came 'clean' with me that i realized i had to change my attitude. All it took was for one honorable man to be completely honest with me. Since this happened to me i always try to be 100% straight up (hehe) with people i know and i see are strugling.

If you care enough for your buddy Mark (and if you haven't already done so), it might be rewarding to come clean with him. Although granted some people just don't know the truth if you slap em around the ears with it and will just get angry and write you off as an *******.

 

[WORKEROUTER]

Originally posted by STR8UP
Good question.

The bad news is that if you are young, it can be hard to find someone who will take you seriously.

The good news is, people who learn how to solve problems (such as being too young to be taken seriously) are the same people who reach the top financially.

I haven't personally been involved in a real estate investment club, but I would assume that even if you don't own property the dues you have to pay to join would be one of the best investments you ever make. If you show the successful investors that you are willing to do whatever it takes to learn, it's likely that they will gladly teach you everything they know.

The thing is, you have to be really careful not to screw it up. If you find someone who is willing to teach you what they know you have to give it 110% or your mentor will drop you like a hot potato. I would gladly teach someone in exchange for helping me out with whatever I needed done, but I value my time in the hundreds if not thousands of dollars per hour range, so I wouldn't give someone very many chances to jerk me around before I cut them off.

So would you suggest that at this point, I just continue reading books and educating myself that way?

 

[STR8UP]

Originally posted by WORKEROUTER
So would you suggest that at this point, I just continue reading books and educating myself that way?

NO! By all means, FIND A MENTOR!

But you are going to have to seek one out which might not be easy (try the RE club!) and you better be willing to impress your mentor with your ambition. If you aren't willing to put in a lot of work for no immediate payoff, don't waste your time or his! One of the traits of being financially successful is being willing and able to get paid for things you did YEARS earlier.

Kind of like the Karate Kid.....wax on, wax off. You might not like everything you have to do, but in the end you will see how it pays off.

 

[MetalFortress]

The one thing I can think of is car dealerships. They are usually owned by small to medium time owners who you often see going in and out of the dealership itself. Become an employee there, and then when you meet the owner or his top level employees (usually family), ask him.

STR8up and others, how do corporations play into divorce? If you own a corporation and all of your assets are in its name, are they safe from the courts?

 

[MetalFortress]

Originally posted by Derek Flint
Bush is holding people accountable for their irresponsilbe actions - how dare he?

Cosign

 

[STR8UP]

Originally posted by MetalFortress
The one thing I can think of is car dealerships. They are usually owned by small to medium time owners who you often see going in and out of the dealership itself. Become an employee there, and then when you meet the owner or his top level employees (usually family), ask him.

STR8up and others, how do corporations play into divorce? If you own a corporation and all of your assets are in its name, are they safe from the courts?

As for the car dealer thing- I would be careful. Many of these kinds of businesses are run by self employed individuals, NOT businessmen. You need to get advice from someone who knows how to build businesses or other assets, not someone who is bogged down trying to keep their small car lot out of bankruptcy.

That's why I suggested the RE club. People who are focused on buying RE are usually concentrating on building assets. These are the kind of people you need ot associate with. And they will usually have more free time to teach you that a successful business owner would.

On the subject of corporations and divorce, no comment. Haven't had the displeasure of needing to find answers to those kinds of questions yet.

 

[MetalFortress]

I meant new car dealerships. Those ones are generally pretty big.

 

[RaWBLooD]

Why is every thread with millionaire in the definition include bush, HES A SPECIAL CASE, GET OFF IT.