{"id":94921,"date":"2020-10-04T05:00:59","date_gmt":"2020-10-04T11:00:59","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=94921"},"modified":"2024-02-24T12:58:39","modified_gmt":"2024-02-24T19:58:39","slug":"habits-that-will-make-you-millions","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/habits-that-will-make-you-millions","title":{"rendered":"5 Habits That Help Average People Make Millions"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC9921567505&amp;light=true\" width=\"100%\" height=\"200\" frameborder=\"0\" scrolling=\"no\"><\/iframe><br \/>\n<span style=\"font-weight: 400;\">I moved to the United States several years ago, and I truly believe it is the best country in the world. I always tell everyone that what I did here, I would not be able to do anywhere else. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are five steps that have helped me achieve the success that I have today, and I\u2019m hoping that they will do the same for you.<\/span><\/p>\n<h2>5 Habits That Help Average People Make Millions<\/h2>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/0eONZpGByFA\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h3>1. Aim purposefully to leave your 9-5 job behind.<\/h3>\n<p><span style=\"font-weight: 400;\">So the first thing you need to do is quit your job. It\u2019s called a J-O-B, which means &#8220;just over broke.&#8221; You\u2019re working a 9-5, you\u2019re getting someone else richer, you\u2019ve got an hourly rate, you\u2019re limited to how much money you can make, and you can\u2019t really go beyond the industry average there, right?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most multi-millionaires and billionaires own businesses, because there is no limit to how much you can earn in a business. You can flip one, 10, or 100 properties. But for the person with a job, there are only 24 hours in a day\u2014and many of those hours are taken up while you\u2019re only getting paid an hourly rate.<\/span><\/p>\n<h3>2. Don&#8217;t get into debt.<\/h3>\n<p><span style=\"font-weight: 400;\">This country has so much debt, it\u2019s mind-boggling\u2014student loans, mortgages, car loans, credit cards, etc. It doesn\u2019t make any sense to me. Only spend what you can afford to spend, which means the money that you have in your account should be the money that you are spending. Simple. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">On top of that, I\u2019m going to go out on a limb and say you should strongly weigh your decision on whether to go to college. I know, I\u2019m sorry Mom and Dad, but college is going to cost you hundreds of thousands of dollars. And you\u2019re going to learn how to be good at a job and how to make your boss richer. It doesn\u2019t make any sense to me. I think that the world will start going in a different direction when it comes to that. We\u2019ve got a lot of entrepreneurs who don\u2019t have college degrees; they don\u2019t even have high school diplomas. But they\u2019ve got businesses that are achieving amazing success. So that piece of paper, that document, that diploma doesn\u2019t really mean as much today as it did back in the day. <\/span><\/p>\n<h3>3. Stay frugal.<\/h3>\n<p><span style=\"font-weight: 400;\">When I started my journey as an entrepreneur and a business owner, I was told by some of my mentors that I had to keep costs to a minimum and drive revenue. That means don\u2019t buy a new phone, don\u2019t buy a new suit, and don\u2019t buy a swanky new couch. There is no need to spend money on things that do not give you a return on investment. Instead, spend one dollar and get two back.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To do this, you have to keep costs to a minimum. Don\u2019t be like everyone else, buying the new phone when it comes out. Unless it\u2019s helping you get more money, do not spend it. Stay frugal. When I was broke, I could only afford to buy dollar gas station coffees, and I was eating teaspoons of peanut butter to survive. Guess what? If that is what you have to do, do it. Even to this day, we have a system in place where we check any $2 unrecognized charges on our cards.\u00a0<\/span><br \/>\n<em><br \/>\n<strong>Related:<\/strong> <a href=\"\/renewsblog\/millionaire-through-real-estate-at-31\/\" target=\"_blank\">How I Went From Broke Poker Player at 25 to Millionaire at 31<\/a><\/em><\/p>\n<h3>4. Learn to sacrifice everything and anything.<\/h3>\n<p><span style=\"font-weight: 400;\">That is probably the hardest step out of all of it. There aren\u2019t any walks in the park, and there aren\u2019t any vacations. I personally left everything and everyone behind, and I moved into the unknown. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">I had a great paying job in Australia, plus familiarity, family, friends, and memories. I left it all. I made a huge sacrifice and moved here with nothing. I worked my freaking butt off, and I still do to this day work 16-, 17-, or 18-hour days. Every dollar that I have, I invest back in my business. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nothing comes easy in life. You have to work hard, you have to sacrifice, and you have to do whatever it takes. You have to put everything on the line. If you want to succeed, there aren\u2019t any excuses and it\u2019s going to take a lot of hard work. I don\u2019t believe in talent. I believe in hard work.<\/span><\/p>\n<h3>5. Methodically invest in property.<\/h3>\n<p><span style=\"font-weight: 400;\">I\u2019m not sure what the statistics are out there, but the majority of multi-millionaires and billionaires all have very large property portfolios. There are many ways that you can invest in real estate, as you guys know. Regardless of the niche you use, you want to get to a certain level of financial status where you can buy and hold. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Long-term wealth, in my opinion, is built by buying and holding properties. They hopefully will appreciate in value, which will hopefully continue to expand your multimillionaire status, and you will also receive residual income from them so you can achieve true financial freedom and enjoy your life.\u00a0<\/span><\/p>\n<h3>BONUS: Surround yourself with the right people.<\/h3>\n<p><span style=\"font-weight: 400;\">There are no ifs, ands, or buts about it. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let me tell you something. I quit school at the age of 14. I\u2019ve got no formal education whatsoever. But as Henry Ford once said, \u201cI\u2019m smart enough to have smarter people around me doing the things that I can\u2019t do or don\u2019t wish to do.\u201d That statement changed my life. I always try to be the dumbest person in the room. I\u2019ve realized my faults, and I aim to surround myself with the right people. I surround myself with attorneys, accountants, and other entrepreneurs running amazing businesses. I also surround myself with other real estate investors doing great things who pull me up with them. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">They say you are who you are with. So make sure that you network. Throw yourself out there. Go to conferences, shake hands, kiss babies, talk to people, email them, cold call them. Network equals net worth. Surround yourself with the right people. If they\u2019re worth $10 million, at least they will pull you up and you\u2019ll be worth a couple million, if not more than that. You are who you are with. Have the right people around you.<\/span><\/p>\n<p><a href=\"https:\/\/www.biggerpockets.com\/real-estate-investment-calculator?utm_source=renewsblog\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-91220\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-02.jpg\" alt=\"\" width=\"700\" height=\"85\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-02.jpg 700w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-02-300x36.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<p><em><span style=\"font-weight: 400;\">Any questions?<\/span><\/em><\/p>\n<p><strong>Comment below. I\u2019d love to hear from you.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you want financial success, there aren\u2019t any excuses\u2014it\u2019s going to take a lot of hard work. Here&#8217;s the blueprint. The rest is up to you.<\/p>\n","protected":false},"author":1672,"featured_media":114223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7119,20],"tags":[],"class_list":["post-94921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-daily","category-personal-development"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/94921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/1672"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=94921"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/94921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/114223"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=94921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=94921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=94921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}