503: The Millionaire Formula: 10 Steps to Hit 7-Figure Net Worth (Part 1)

You probably know Brandon Turner and David Greene as multimillionaire real estate investors. What you may not know, is that a decade ago this was a very different story. Brandon didn’t grow up in a wealthy family, and by his 20s, had packed on about $20,000 of credit card debt while spending $1,000 more than he could afford each month. David grew up in a family where finances were a constant stressor, he later vowed to himself that he would never let money problems hurt him or the people he loves. Now, both Brandon and David have made the long journey from rags to riches, and through investing in real estate they were able to pull themselves up by their bootstraps and reach financial independence. Today, we talk through the first five (of ten) steps that helped Brandon and David reach this financial feat.  This is a great episode to take notes on, as becoming a millionaire is close to impossible without following most, if not all of these steps. While this episode isn’t entirely focused on real estate investing, a large part of being a successful real estate investor is financial intelligence. Even if you’ve made mistakes in the past with investments, debt, spending, or any other financial lever, following these ten steps will give you a solid framework to stair-step your way into millionaire status.  In This Episode We Cover How Brandon and David discovered their need for financial independence early in life  Thinking of money the same way you think about fitness and health Reaching huge financial milestones, even if you started out with extra obstacles Fighting lifestyle creep and never falling into the Ferrari trap  Building an income stream that is scalable, passive, and automated  The “stair-stepping” method that leads to massive wealth accumulation And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Youtube Channel The BiggerPockets Bookstore Alan Corey Gary Keller BiggerPockets Podcast 500: Robert Kiyosaki: America’s ‘Rich Dad’ Sees a Real Estate Crash Coming BiggerPockets Podcast 447: Create Your Dream Life in 3-5 Years Using Vivid Visions with Cameron Herold BiggerPockets Podcast 461: Defeating the “Enemy of Success” with Steven Pressfield (The War of Art) GoBundance YNAB (You Need A Budget) Mint Open Door Capital Email Your Questions: [email protected] Check the full show notes here: https://www.biggerpockets.com/show503 Learn more about your ad choices. Visit megaphone.fm/adchoices