…what would I do to become a millionaire? This was such a good exercise… maybe I will be hustling to make it happen!

OK, I would wake at age 20. I estimate it would take me 5-7 years to reach a million bucks of net worth. During this time, I would be living as frugally as possible and working part-time for the first 2 years to cover my expenses and build up my credit score (through secure loans).

The “Education”

  • 20 years old: For starters, I would not have done my PhD; instead, I would get a PhD directly from millionaires. Think about it, people spend tens or even hundreds of thousands on a degree to learn from professors, but the majority spends less than $1000 over their lifetime on books. Why would you not want to read a book written by a millionaire, who is basically giving you his formula in exchange of something like 10 bucks? I would read all these Books, understand that money is a tool, which I should use and not be used for.OK, so education is almost solved (after all at this point I know all the formulas from the major businessman on earth), but to top it off I would look for a mentor. Knock on doors and show my excitement to learn from them. I estimate this would take three to six months.

The first business: passive cash-flow from the internet

  • still 20 years old: I would set up a very scalable internet business, revolving around 1) drop-shipping, 2) affiliate marketing and 3) book publishing. I would work on this for 6 months straight, while carefully designing my other services. At the very least I think , $30k pa, mostly passive after the 6 months. I would be taxed through a company, which I would also use to write off most of my expenses. I would hire someone trustworthy and educated to run the business.

The real estate deals I love

  • 20,5 years old: So I am 20 years and 6 months old. Here I start to design the domination of one region, in terms or Real Estate. For that, I would start to get the best of the best foreclosure deals. Of course that, regardless of my liquidity (at this point lets assume 0 dollars) I would use leverage. At this point, I also buy my own home, a 2-unit+attic house. Two units to rent out, the attic for me to live. One unit pays off the 30-year fixed-rate mortgage, the second builds up a maintenance fund and the third saves me rent!

The real estate company: capitalizing on my own RE portfolio

  • 21,5 years old: OK so after say three foreclosure deals on multi-unit houses, I would set up a Real Estate company, with a super slim logistic layer (maybe one multi-skilled employee and a cheap location. I am willing to give this guy 10% of the company so that he works without a salary in the first 6 months). This company would manage my and others properties and sell homes. I will assume the business takes one year to gain real traction.

Connections and a small construction company for synergy!

  • 22,5 years old: At this point I have the knowledge, a mentor, a passive online business (worked hard 6 months straight) and a real estate company (hustled like a champion for 1 year) with a nice client portfolio. Ohh, a real estate company is the best company to get to know people at the tax office, bankers, lawyers, notaries, etc, so I will assume I would have good connections at this point. Its the perfect timing to start leveraging my clientele: I set up a small construction company.I’ve seen so many millionaire dudes with this type of businesses… Now I build and flip homes to sell through my Real Estate company. I spend one year finding the right contractors to hire and set up the office (which would be, guess what… inside my Real Estate company!). Maybe I move to a bigger location at this point, but I don’t double the rent.

Expanding the business towards the millionaire blueprint…

  • 23,5 years old: My construction company is running. It builds homes for clients and for my own, to sell for a profit and I am all over the RE market. At this point, I am only lacking three or four angles of it, which I will exactly now: investment products (homes designed to yield the double of any interesting bearing account), insurances (such a profitable business in southern Europe…), a mortgage company and a staging company. I still have 3,5 years left, guess where they go to… I would grind till I turn into a millionaire.

This was such a beautiful exercise. I realized that I woulda gone a totally different route, if I were to re-start at 20. I wish I could, too. But you know what? I am still young. I am building up an internet business as you read this. Maybe I follow this very same plan this from January 1st, 2017. After all, it won’t mess up my plans for the year.

Thanks for all your feedback BTW. Love you guys.