Well we know that millionaires: are millionaires in their MINDS long before they may be one on paper; they think BIG and they have a HUGE why for wanting to be a millionaire. Millionaires also STOP WHINING, COMPLAINING and JUSTIFYING and take ACTION!
Let me give you a quiz.
You have got $50,000 to spare and want to do something for yourself as a reward for being a good little Millionaire.
So do you:
(A) Buy that cool Lexus you have had your eye on?
(B) Buy that property that gives you a $500 return on your investment monthly?
My millionaire friends and clients would chose “B” for sure! They know that this has added another ASSET to their portfolio! You see they are buying that ASSET straight out with no DEBT associated with it!
Here is another quiz:
Is your current house you live in an ASSET of a LIABILITY?
Most would say it is an ASSET and they would be dead WRONG!
Why? Because unless you own that house FREE and CLEAR with NO mortgage/debt it is NOT an ASSET! The REAL owner of your home is the BANK or who you pay your monthly mortgage to!
In the current situation most home owners will NEVER be able to declare their home an ASSET! They can not get ahead of the INTEREST they owe since in the majority of the cases they are NOT paying down the PRINCIPAL!
Also so many house especially in America have lost their ORIGINAL value and in many cases people who have done their math are walking way from their home and letting the bank take it over! NOT SMART!
Why because they have most likely RUINED their CREDIT FOREVER! It is much better to try to work with the bank than run away from your RESPONSIBILITY!
So let’s get back to that first quiz.
My millionaire clients would say “A” and “B”!
Yes they would have their cake and eat it too!
How? First they would buy the ASSET which has a POSITIVE CASH FLOW of $500. Then they would use that $500 to find a PREVIOUSLY OWNED ( new politically correct term for USED!) Lexus and LEASE it!
Most likely they would still have money left over from LEASING the Lexus to purchase another ASSET like a share of a hot stock!
So do you have this aspect of the MILLIONAIRE MINDSET?
If not DEVELOP it!
If you want join our NO COST EVER Shirt Pocket Millionaires Club then go to the header on this site entitled Shirt Pocket Millionaires Club and click on it and follow KISS instructions!
More in next post!