11 Habits of Millionaires

If you want to put yourself on the fast track to becoming a millionaire, make sure you cultivate these 11 habits. And if you’re already boasting a seven figure net worth? … give these proven techniques a fresh look on your way to eight or nine figures!

1. Daily Reading – Millionaire study guru Thomas C. Corley reports “88% of the rich devote 30 minutes or more each day to self-education or self-improvement reading.” That statistic also led the author to some other astute observations about rich habits, namely that they would rather be educated than be entertained. Next time you feel like browsing Facebook or “vegging out” in front of the television, consider your bank account and pick up a book.

2. Don’t Make Excuses – Unless they’re following a bodily function, ban them from your life. When we make excuses we’re essentially absolving ourselves of blame for an outcome which, in most cases, we had something to do with. This is common. What’s uncommon as becoming a millionaire? Taking responsibility. Even when it’s not entirely our fault, by accepting the blame and resisting the urge to “explain why”, our mind can make the crucial shift from “it’s not me,” to “I am responsible.” This attitude is wildly popular with humans that have larger bank accounts. If that’s not enough reason to make you the “No Excuse Person,” consider this: accepting blame will make your husband or wife love you more.

3. Find the Smartest People and Stay Close to Them –  Yes, you are a reflection of the five people closest to you. And if your actual bank account doesn’t match your vision, find a way to get closer to successful people who’re winning the game of money. All right, all right… there is a “cheat sheet” for this one, and that’s to join DealMaker Society. There you can meet, mingle and share ideas with high net worth individuals, led by the original DealMaker himself, Matt Skinner. Putting yourself in the prime position to succeed means having people who’ve already been where you want to go near you.

4. Embrace Mistakes and Failure – It is here that we often find the things which we’re passionate about. If you adopt the mindset that everything is either winning or learning, you’ll be able to pick yourself up quicker and start again. Learning and feedback are the keys to achievement. Some of the brightest people living today miss success because they feel like they “know it all,” or are too cool for school. Others can’t handle criticism, and therefore stop growing. 

5. Take your Time – A lot of great people have taken credit for saying it, but regardless of attribution: people overestimate what they can do in a year and they underestimate what they can do in two or three decades. Perhaps because of our overstimulated and immediate-gratification-centered society, we humans tend to think shorter term. Millionaire thinking means you must shed the quick-fix mentality and dial back for the bigger view of your life and what you want to accomplish.

6. Get Plenty of Rest – It’s been said everyone has a million dollar idea every year! So why aren’t more people rich? Few write down their great ideas. More importantly, if you’re tired, you might not even notice such ideas as they float across your brain. A well-rested brain is an optimal tool for wealth generation so get some sleep and keep a pen and paper nearby!

7. Exercise – 76% of the rich exercise 30 minutes or more per day, reports author Corley. Beyond the obvious benefits, exercise grows neurons and creates glucose. Neurons are brain pathways and glucose is brain fuel. Race you to the gym?

8. Work Hard –  Brian Tracy, the esteemed author and motivational speaker says the following: if you work 40 hours, you’ll keep pace. If you wish to become a millionaire, you can not do this! The number of hours you work each week above 40 hours has a strong correlation to the fulfillment of your financial goals. Working 50 hours is “plus ten,” a good start; while 60 or even 70 hours a week is where achievements will start raining down on you. The four hour work week is a myth and a bad one at that. The caveat here, of course is that your time is spent working on the 20% which carries with it an 80% impact. Beware getting caught up in “the thick of thin things!”

9. Stay Positive – In the digital era we now inhabit, it can be easy to fall into the common trap of feeling insignificant or insecure when you’re looking at people’s “Instagram Selves.” There’s a disconnect between what we are and what people portray on social media. It’s human nature to be pessimistic and insecure. That’s one of our primary jobs as humans who function at our highest: to shed that thinking, and see the silver lining in every misfortune. Often our greatest tragedy can deliver our greatest triumphs, all it takes is a little creative thinking. 

10. Invest in Yourself – There has never been a time in all of human history where it’s been easier, or more important for you to spend money on things that make you better. Video courses, online schools and a veritable infinitude of options are all open to you, both paid and free. Investing in you means taking time to sharpen your skills, broaden your horizons – this could be buying a course or traveling to Africa. Remember also: your time is an investment. If you’re starting at zero, and feel like you don’t have anything, don’t forget your 24 hour days and use them wisely! 

11. Have Fun – Matt Skinner can be found teaching his millionaire ways in places like Harvard University, on MattSkinnerLIVE! or sharing stages with the likes of Tony Robbins. You can be sure he’s living his highest purpose, sharing real estate strategies that have already worked for him to the tune of $100’s of millions. And if you’re lucky, he’ll tell you how he started out as a ditch digger, and how he got to the exalted place he thrives in today. Why would you ever do something you don’t enjoy to the tune of millions of dollars? And here’s a little insight—if you hate your job, it’s entirely possible that it’s not the job, but your attitude that could use a tweak. When you’re in alignment, work becomes fun and the money you’ll see multiplies.

If you’re a millionaire or want to become one, joining Dealmaker Society is mandatory. Society is the FAST TRACK for you to move quickly and surely toward your financial goals. 

Don’t miss this opportunity – secure your seat now.

This story is an excerpt from my book, “The Dealmaker Manifesto” which you can get for FREE, right here

The Boyle Heights Nightmare House Flip

Years ago, I bought a house from a wholesaler who I had trained. 

Wholesaling is the technique of creating a great deal, tying it up, and flipping the contract to someone who has the money to make the deal happen. Buying from a wholesaler is a good way to get additional deal flow and I still buy deals from wholesalers. 

Wholesaling is also a great way to get started in the real estate investment business before you have your own money make any significant purchases. 

This deal I purchased from the wholesaler was a short sale on a duplex in a rough part of Los Angeles called Boyle Heights. The house was old, maybe built in the 1930’s, which is really old for LA. 

I did all the normal inspections on the house including hiring a third-party inspector to check for termites, etc. I always use a third party to inspect my properties before I buy them even though I am a fully licensed general contractor and technically able to save that money. 

I take the approach that a third party will be impartial in their inspection and give me unbiased eyes on the deal. I like that because it mitigates risk. 

On this particular deal, we got all our third-party inspections done and closed on the property. 

My intent was to fix it up cosmetically, sell it for retail price, and make a handsome profit. 

The first day on the job, we tore out some of the lath and plaster and quickly discovered that termites had whittled their way through nearly 90 percent of the framing—so much so that the lath and plaster and exterior stucco were the only things holding up the house! 

It was going to be a huge expense to replace all of that structure, and the city would normally require us to tear down the entire house and have it all reengineered from the ground up to rebuild. 

Many entrepreneurs would go weak in the knees and bail! 

But I spent the next several weeks negotiating with the city to let me replace the termite infested framing and forego the re-engineering and costly rebuild. They agreed, and I strapped on my nail bags and did most of the framing myself to save money. 

The project did run over budget and took longer than expected, but we got the job done and sold the house for a profit. 

This would not have been possible if I had not purchased the property with such a profit margin cushion that it could withstand unforeseen problems. 

Another takeaway was that my investor on this deal discovered the real reason that people invest with me: as a trained professional, I make things happen, even when the odds are stacked against me. I used my skills and ability to negotiate a compromise with the city and to get things done. I make sure I do this even when life throws a curve ball. 

The biggest takeaway, however, is one of my favorite slogans:

Real Estate Is A Team Sport!

I shudder to think what might have happened to someone who’d gotten involved with this deal without a very high level of expertise, or direct access to someone who does. 

And yet, people DO make these level blunders all the time, partly because there are so many bogus real estate courses out there which don’t properly prepare their students for the reality of flipping property.

One of the biggest reasons I created my Dealmaker Society membership is to give people the ability to ask me questions on a regular basis. If you’re already a Society member and you’ve got a potential deal, or you’re stuck and don’t know what to do next, go here.

This story is an excerpt from my book, “The Dealmaker Manifesto” which you can get for FREE, right here

How I Turned $5,000 Into $13,000

Driving through town one day, I saw a billboard for a seminar featuring several real estate gurus who were going to speak in LA. 

With only one thought in my head: “I have to go,” I took the day off work to learn about real estate investing. 

I remember when I saw my first mentor on stage:

He was disheveled. 

He was old. 

He was crass. 

He was a salty dog…

My kind of person!

I loved his off-color humor and politically incorrect way of communicating. He said he had been a carny (that’s carnival worker for those of you in Rio Linda) in a “past life” before becoming a successful real estate investor. 

He promised to show me how to make money in real estate with no money or credit. 

I was sold! 

I ran to the back of the room and maxed out two credit cards to be able to attend his $5,000 event; and yeah, it took two credit cards for me at that time. 

I mean five grand might as well have been a million because I simply didn’t have it. 

But I made the investment in myself. 

I wanted more than anything to know what he knew and to be able to do what he did. 

I wanted to Make Deals and Get Paid. 

I wanted to flip houses and amass a real estate portfolio just like he had talked about. 

I was so excited about my investment in myself that I called my girlfriend at the time and told her about the investment I had just made in myself. 

She laughed at me and told me I’d just gotten scammed. 

Fortunately, I ignored her “safe advice” to get a refund, instead beaming from ear to ear about the new path I was about to take. 

Several weeks later, I attended the four-day workshop and learned about wholesaling, creative financing, fix and flips and short sales. 

At this point in the story I had zero real estate experience. 

Attending this seminar was like a dream.. And It felt like I was drinking water directly from a firehose! There was so much information to take in…

I learned the tips and techniques on how to transact real estate at this event, but most importantly I learned marketing.

This guy was a master marketer and I not only implemented his strategies to make real estate deals, but I also implemented them in other areas of my life. 

I still use some of his tactics to this day and I teach all of them to my students in my DealMaker Society membership course (along with another 20 years of expertise and $300 million in transactions).

That same doubtful girlfriend might have applauded me, had I told her I was going to learn to be a real estate expert by myself.

You see, that’s one of the false paradigms schools teach us: to do things the hard way.

Think about the messages teachers drilled into our brains: “do your own work”, “keep your eyes on your paper”, “don’t look at your classmate’s answers”.

Those are good paradigms to have in school, but not so much in the real world.

Life is short and figuring out how to do things alone takes way too long. That’s why coaching is a billion dollar industry: smart folks know we need every bit of help and advantage we can get!

Back to my story:

Maybe because I was naive enough to believe every word he said, I took everything I learned there and just did it. 

I didn’t ask questions or try to make his system better. 

I just did it. 

In several short weeks, I’d took that first $5,000 investment in myself and turned it into $13,000! 

I did my first real estate deal and I was hooked! 

Not only was that a fantastic ROI (return on investment) for that class, it also gave me the faith and courage to know this stuff really worked! 

Unknowingly, I had begun the journey of creating my own real estate training, which would eventually become known as the Dealmaker Society. 

This story is an excerpt from my book, “The Dealmaker Manifesto” which you can get for FREE, right here

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