
267: Net Worth of $2.6M - Started at 18 putting 50 cents per hour in my 401k
Millionaires Unveiled
00:00
I've Got 2,000 a Month of Cash Flow and I'm in the Process of Redeveloping a House and I Got a $200,000 Loan and I Figured Out How to Get the Money Together.
I had 25,000 saved up when the stock market crashed in 2008. I put $5,000 in each one of those stocks and doubled it within a year. My wife said we got to do something different because we were sitting on our checking account or savings account with no mutual funds. We went to an investment firm that was front-loaded but they gave us some good advice. They told me not to buy anything for more than 20% down until you can get equity loans. When my neighbor's mother passed away he bought her fourplex so she could live there without having to worry about him taking care of everything. He now owns his own business selling real estate around New York City
Transcript
Play full episode