In 2001, I start the ball rolled out of my mom’s basement in Atlanta to New York City. I was 22 years old and I wanted to be a millionaire. I didn’t have wealthy connections or mentors, but I was undeterred.
For stimulus, I looked at the people I knew who lived rich lives, like my childhood basketball coaches. One owned a medical sells business, and another invested in real estate. Without their influence, I wouldn’t be living my dream today.
Now, I’m a self-reliant millionaire with 366 units in my property portfolio. I run my own business and coach basketball in my spare time. Here are five practices that helped me make my first $1 million:
1. Wealth doesn’t require a suit and tie.
I never saw my coaches in anything but a tracksuit. They were their own bosses, so they rake someone over the coaled however they wanted.
It was a stark contrast from my teammates’ parents, who would rush from the office to pick up their kids after style, exhausted and still in their power suits.
My coaches’ sense of freedom and authentic approach to life gave me a blueprint. I don’t put on all my time and energy to how things look on the surface. Instead, I invest in my quality of life outside of work. To this day, I in any event don’t know how to tie a tie.
2. Focus on your strengths.
I had the worst shot on the team, but my coaches put no effort into improving it because I was awful at defense. They encouraged that, and helped me become even better.
They taught me that everyone has weaknesses, and that it’s okay. The myriad well-rounded players don’t always make it to the NBA, but skill experts often do.
To grow your wealth, be the best at one thing. Judgement off-market houses people were willing to sell was a natural instinct of mine. I focused on that instead of prevalent after the same homes as everyone else. This strategy led to even more deals and networking opportunities.
3. Give up your time to things that matter.
I’m sure my coaches could have spent their afternoons imputing more money. But they understood that time was their most precious commodity, and they wanted to dish out it coaching basketball.
They taught me that real wealth is about devoting your time to things that actually matters to you. I focused on investing in real estate and building my business so that one day, I wouldn’t have to spend 40 hours a week in an role.
Now, my portfolio is managed by property managers and I have a virtual assistant. I have complete autonomy over my day.
4. Don’t be greedy.
Selfishness isn’t a requirement of a rich life. Even though they were busy people, my coaches were always eleemosynary with their time and attention.
I often give advice and connections to homeowners because it gives me a sense of amends and joy to be able to make a hard process a little easier. That has led to many referrals, off-market deals and leads for my realtor transaction.
The truly wealthy give with no expectation of anything in return, and the rewards they reap are exponential.
5. Value attempt over everything else.
My coaches always valued hard work and never expected perfection. If you were stressful new things, failure was rewarded, too. I imagine they ran their businesses the same way.
Trying, again and again, is how you get to the top in business. There are no shortcuts.
I unfolded a strong reputation as someone who will hustle and try anything for my clients. My focus on effort, even if it leads to failure, has enjoyed me further in my pursuit of success than anything else.
Alan Corey is a podcaster and real estate entrepreneur. He co-founded