Become a Billionaire Before the Age of Thirty
Being a millionaire is so easy that it is not worth talking about. Becoming a billionaire is the new goal for those with the “greedy genes.” Let’s face the reality.
The only way a person becomes a billionaire without doing something illegal, is to have a “me first” attitude. That is what we identify as the “greed gene.” It is not simply survival of the fittest; it is the person thinks they are automatically superior over everyone else.
By definition, a billionaire who has over one thousand million U.S. dollars is in a rare category of being in the 1% that holds massive wealth that is more than the 99% who do not.
It helps if you are some uber-genius that invents the newest hottest thing on the Internet. Or if you are really great at copying and stealing other people’s stuff like Bill Gates who got Paul Allen to go buy the DOS system for $50,000 after he already made the deal to license it (not sell it) to IBM. From that technique came Windows.
Bill would be jealous of Mark Zuckerberg, who copied an existing system (MySpace) made it better by usurping the ideas of his college friends (Facebook). He then claimed it ALL for himself, was sued, settled out of court with the others that helped him develop the system and after the Facebook IPO became the youngest billionaire in the world.
OK, technology aside, we want to concentrate on becoming a billionaire before the age of 30 in the old-fashioned way.
This is the “Donald” model, as in Donald Trump. Trump started with a loan from his father of one million dollars, which he had to pay back. Trump’s father was the king of the slumlords in Brooklyn. He thought his son’s idea to take on Manhattan was ludicrous, but he still gave him a loan of one million dollars to try it.
Leverage and Bravado
To become a billionaire in real estate takes two things: 1) leverage, and; 2) bravado. Leverage is taking one million dollars and making it worth one thousand times that amount. Bravado is using the media, the corporate bankruptcy proceedings, and the continual marketing of the “Trump” brand name to make money for simply putting your name on a project.
Trump has the audacity to ask people to pay an annual membership fee of $100,000 to come to stay with him for a week at his mansion in Florida.
Now Trump runs for president, which is beyond the focus of this article.
Billionaire
It is possible to become a billionaire in real estate by clever application of the power of passive income combined with leverage. Leverage is the key.
You need to finance your way to the top. You need to select properties that have inherent value and use them to acquire more and more.
You need to be really greedy and make deals so outrageously in your favor that others will be shocked at how you got away with it.
The best deals are not putting any of your own money down. Like Trump, use your name as the down payment to get 50% of any deal.