A Progression Through Four Stages
1. You must learn to Think a Million (think like a Millionaire Real Estate Investor) before you make your first move. How you think matters. Learning to think like a Millionaire Real Estate Investor will give you the greatest chance of becoming one.
2. The next step is to Buy a Million, in which you will get a thorough understanding of the best models for investing in real estate and more fundamentally, an understanding of money: the ways it is made and the ways it can be lost. The goal is to equip you with the working models you need to purchase investment properties with a market value of a million dollars or more. Believe it or not, this is not the huge leap you might imagine, and many investors reach that mark long before they ever expected they would. Buy a Million is about the fundamentals of acquiring properties, holding them, and in some cases selling them. Buy a Million applies the power of Criteria, Terms, and Network to launch your career in investing.
3. After you Buy a Million, you will set your sights on having an equity position of a million dollars or more in your properties. We call this stage Own a Million. This is when you will realize that the investing you have done has blossomed into a bona fide business. With that transformation come a set of issues specific to that level of ownership. Acquiring properties through credit potentially becomes more difficult, cash becomes a commodity, and managing your investments could require help from several quarters. This stage involves dealing with and often balancing cash flow with asset or equity buildup. It may involve selling, trading up, or exchanging.
4. The last stage of growth for a Millionaire Real Estate Investor is Receive a Million. Think of it as the summit, a place where only the best have gone. Receive a Million is when you are in a position to receive an annual income of a million dollars from your investments. You can step out at any point along the way. Exactly when you decide to move into the “receive mode” is up to you. Obviously, you do not have to wait until you are receiving a million dollars a year. |