503: The Millionaire Formula: 10 Steps to Hit 7-Figure Net Worth (Part 1) 01:09:55

    <p><br></p><p>You probably know <strong>Brandon Turner</strong> and <strong>David Greene</strong> as multimillionaire real estate investors. What you may not know, is that a decade ago this was a very different story. Brandon <strong>didn’t grow up in a wealthy family</strong>, and by his 20s, had packed on about <strong>$20,000 of</strong> <a href="https://www.biggerpockets.com/blog/2016-02-12-smart-credit-card-debt-student-loans">credit card debt</a> while spending $1,000 more than he could afford each month. David grew up in a <strong>family where finances were a constant stressor</strong>, he later vowed to himself that he would never let <a href="https://www.biggerpockets.com/blog/solve-financial-issues">money problems</a> hurt him or the people he loves.</p><p>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 <strong>reach</strong> <a href="https://www.biggerpockets.com/blog/key-to-financial-independence-has-nothing-to-do-with-real-estate">financial independence</a>. Today, we talk through the first five (of ten) steps that helped Brandon and David reach this financial feat. </p><p>This is a great episode to take notes on, as <a href="https://www.biggerpockets.com/blog/rental-property-wealth-generators">becoming a millionaire</a> 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 <strong>financial intelligence</strong>. 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<strong> stair-step your way into millionaire status</strong>. </p><p><strong>In This Episode We Cover</strong></p><p>How Brandon and David discovered their need for<strong> financial independence early</strong> in life </p><p>Thinking of money the same way you think about<strong> fitness and health</strong></p><p><strong>Reaching huge financial milestones</strong>, even if you started out with extra obstacles</p><p>Fighting <a href="https://www.biggerpockets.com/blog/how-not-to-blow-5-figures-a-month"><strong>lifestyle creep</strong></a> and never falling into the Ferrari trap </p><p><a href="https://www.biggerpockets.com/blog/create-multiple-streams-income-real-estate">Building an income stream that is <strong>scalable</strong></a><strong>, passive, and automated </strong></p><p>The <strong>“stair-stepping” method</strong> that leads to massive wealth accumulation</p><p>And <strong>So</strong> Much More!</p><p><strong>Links from the Show</strong></p><p><a href="https://www.biggerpockets.com/forums">BiggerPockets Forums</a></p><p><a href="https://www.biggerpockets.com/membership-types">BiggerPockets Pro Membership</a></p><p><a href="https://www.biggerpockets.com/youtube">BiggerPockets Youtube Channel</a></p><p><a href="https://store.biggerpockets.com/">The BiggerPockets Bookstore</a></p><p><a href="https://www.penguinrandomhouse.com/authors/76508/alan-corey/">Alan Corey</a></p><p><a href="https://en.wikipedia.org/wiki/Gary_W._Keller">Gary Keller</a></p><p><a href="https://www.biggerpockets.com/blog/biggerpockets-podcast-500-robert-kiyosaki">BiggerPockets Podcast 500: Robert Kiyosaki: America’s ‘Rich Dad’ Sees a Real Estate Crash Coming</a></p><p><a href="https://www.biggerpockets.com/blog/biggerpockets-podcast-447-cameron-herold">BiggerPockets Podcast 447: Create Your Dream Life in 3-5 Years Using Vivid Visions with Cameron Herold</a></p><p><a href="https://www.biggerpockets.com/blog/biggerpockets-podcast-461-steven-pressfield">BiggerPockets Podcast 461: Defeating the “Enemy of Success” with Steven Pressfield (The War of Art)</a></p><p><a href="https://www.gobundance.com/">GoBundance</a></p><p><a href="https://www.youneedabudget.com/">YNAB (You Need A Budget)</a></p><p><a href="https://mint.intuit.com/">Mint</a></p><p><a href="https://odcfund.com/">Open Door Capital</a></p><p>Email Your Questions: [email protected]</p><p>Check the full show notes here: https://www.biggerpockets.com/show503</p>
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