How would you become a millionaire with a thousand bucks? If you only get a thousand dollars, how would you spend it? Well, the first thing I would do is I’d get operational, so I could do business. So, if you don’t have a phone, get a phone. You got to have a phone to even begin. So, that’s how I’d spend that. I’d find somewhere to stay. There are tons of interesting places. You could live with other people. You could offer to do some fixing around their property. You got to get creative about where you’re going to stay, just to get stable, if that’s all you were doing.
Let’s assume you’re already stable. You got a place to live, food, and all that stuff. You can make a million dollars and become a millionaire with your phone. So, the thousand is an interesting idea. What would you do? I’d buy a phone, and I wouldn’t do a lot of extra, because I want to preserve the cash. I would go make new money.
You all have an amazing skill set. You could drop me anywhere in the world with Google Translate, and I could, in any language, coach people on money and business. Because the only thing you’re not taking away from me in this formula, is my brains and experience. But you took everything away, my database. It’s exactly what I would do. I would start selling my time, and get some more money, and inside of that, I would be looking for the right relationships of people, who really had the beat on the street in real estate.
The fastest way to become a millionaire, in my opinion is, either start your own company, and sell your way to success, or start your own company, and buy a bunch of real estate. But you have to have a team around you to do it.
So, how would you spend a thousand dollars? I would conserve a lot of it, and I would bootstrap by selling your time. Is it the perfect model? You got to get a sustainable business. I would be navigating, looking for the right people that have the beat on the street for real estate, and then I’d coordinate the team. I’d organize the team. I’d find the money.
Go for OPM (other people’s money), OPC (other people’s credit), other people’s IRA. I’d find where I can put a deal to the money, and then, in the beginning, I would flip them, because I actually want to stockpile more and more cash. So, I would start flipping the properties, or flipping the companies. I’ve flipped pizzerias, hair salons, laundromats, all sorts of small businesses in town that can create extra capital for you. So, even if you’re only making 20, 40, 80, 100,000 dollars in those turns, you only have to do a few. We didn’t have a time limit. We just said from the limitation of a thousand, what would you do?
I would keep it, and I would add to it. And I would constantly be adding to it. At some point, here’s an interesting turn for a lot of you who haven’t been millionaires, or multi-millionaires for a while, at some point, because you’re so experienced, you stop using your own money. You put your own money somewhere else, and you use other people’s money to do the deals. That’s the leverage of good debt at the highest form.
As far as bootstrapping again, it’s being really resourceful. It’s knowing how to make money, and I think the biggest is, you don’t know how to make fast cash, and I have perfected the model of making fast cash. I can help you make money in five to ten minutes, to an hour, to three hours, as long as you’re willing to do what it takes. Which means, you have to speak. Come to my marketplace, people make hundreds, if not thousands of dollars.
The challenge with a lot of you, you don’t know money or finance, or how to do a deal. You just have great ideas. Now, you have to to turn that idea into a deal, so it can generate some cash. And then your daily actions have to have a result called your bank account increases. A lot of you are just busy, and your bank accounts aren’t changing, because you’re not doing the right behavior.
I don’t care what the industry is, you got to go to market, you’ve got to sell, and you have to understand cash flow. So, let’s talk about hiring a team. How do you hire a team? you put them on commission. Salespeople are the highest paid people. When you learn sales, that is the highest skill you can learn. You all can do this. You’ve got to get a team, and you’ve got to get a team quickly. You cannot do this alone.
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