One of the best business books of all time. If my best friend was thinking about starting a business in Michigan tomorrow, this is THE BOOK I would buy for him today.
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I read this book a long time ago. The title might make you think that this is a book about wealth attraction or prosperity thinking but that is not the case.It is however one of the best book ever written about the mindset of most private investors.
Thanks to MTV and Kardashians, most civilians think that rich people in America all live in mansions, drive Bentleys, have hot model girlfriends and most of the time are shooting rap videos or reality shows.
The rich are supposed to be living in a different universe.
But that is 100% untrue.
The MTV type rich people come and go. Tyson, Holyfield, MC Hammer and couple of thousands of former actors, pro-athletes and TV stars are broke once their 15 minutes ended. The guy who owns that plumbing company in Sterling Heights for the last 25 years has four million to invest in his checking account. Boring. Yes. Great potential deal partner. Yes.
What I learned from The Millionaire Next Door was: the rich are not on MTV but they are first generation entrepreneurs, who live in a house they paid off 20 years ago, still married to the same person for the last 30 years, drive a Ford 150 truck that has 125,000 miles on it and have no interest in showing off their wealth to anybody.
They do however have $900,000 cash in the bank, no debt; kids went to school debt free. The live in nice homes in upper middle class suburbs (think Livonia, Farmington Hills, Canton or Macomb Township) and since they are NOT PAYING $9,000 per month in their mortgage and car payments - they got money to invest.
The rich in America don't live different. They think differently. And if you want to become good at putting together deal partnerships and LLC's together to buy properties to flip or apartments to hold - it would help you if you knew how they think and what they want out of life.
The Millionaire Next Door would help you understand the mindset of the 'real rich' in America which in turn make your better at talking to potential deal partners who have more money and a different mindset compared to most people.
Essential for understand how the rich in America think and act toward money.
If you are serious about building a private investor network - this should be the first book on your reading list.
