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Tricks Millionaires Use To Get Rich

 

If people weren’t constantly looking for a path towards riches, there’d be no use for a lottery. The sad reality? Your odds of lotto money are pretty crappy, so it looks like you’re going to have to work for it and get a little lucky in the process. In co-writing his book, “Wealth Made Easy,” Dr. Greg Reid interviewed 100 rich people to find out how they did it. From those interviews, he came up with four tricks that anyone could learn from if their willing to put the research and work in.

  • Land – Brian Sidorsky’s a “land mogul” in Canada. He says if you know of a U.S. town that’s seeing 20% – 25% growth, you should figure out where the “main” street is, and then draw an imaginary line eight miles out. Then, rent the land to farmers so it’s paid for while the town expands. When there’s enough growth, some big-box store will come along and pay you 100-times what you paid for it.
  • Combine Ideas – Gene Landrum did something that was revolutionary. He took unrelated things and combined them – food, families, and amusements. From there, we have Chuck E. Cheese. Brilliant, aside from the occasional family fighting episodes.
  • Cherish The Obsolete – Ron Klein’s the inventor of the magnetic strip. He also made a fortune picking up old Teletype machines from the Western Union Company. After refurbishing them, he was able to sell them to major companies, converting them to braille printers for the hearing impaired.
  • Work With Competition – Ernesto Ancria, Jr. owns car dealerships in Texas. When the economy went south, he worked with competing dealers with joint events and community projects. It rebuilt the image of auto dealers in the area, and everyone made cash!

Source:Business Insider

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