¡®Copycat Millionaire¡¯ Shares 5 Habits Of The Rich That Helped Him Earn His First Million Dollars

About two decades ago in the year 2001, a 22-year-old man moved out of his mom¡¯s basement in Atlanta to New York City. And all he wanted was to become a millionaire, despite not having any wealthy connections or mentors.

For inspiration, Alan Corey, who is a podcaster, blogger, realtor and real estate entrepreneur, looked at the people he knew who lived rich lives, like his childhood basketball coaches. One owned a medical supplies business, and another invested in real estate. Per him, without their influence, he wouldn¡¯t be living his dream today.

Now, he is a self-made millionaire with a vast real estate portfolio and over 22,000 followers on X (formerly Twitter). he runs his own business and coaches basketball in his spare time. So what did he do to turn into a millionaire? Well, the millionaire himself shares five habits that helped him earn his first $1 million:

Habits That Helped Him Earn His First $1 Million

cnbc

Also Read: Mohnish Pabrai: The 'Copycat Crorepati' Who Made Billions By Following Warren Buffett¡¯s Strategy

1. Focus on your strengths

"I had the worst shot on the team, but my coaches put no effort into improving it because I was great at defense. They encouraged that, and helped me become even better", says 45-year-old millionaire Alan Corey.

His coaches taught him that everyone has weaknesses, and that is okay. The most 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. "Finding off-market houses people were willing to sell was a natural instinct of mine. I focused on that instead of going after the same homes as everyone else. This strategy led to even more deals and networking opportunities."

2. Devote your time to things that matter

The millionaire says he is sure his coaches could have spent their afternoons making more money. But they understood that time was their most precious commodity, and they wanted to spend it coaching basketball to him.

They taught him that real wealth is about devoting your time to things that really matter to you. So, he focused on investing in real estate and building his business so that one day, he wouldn¡¯t have to spend 40 hours a week in an office.

"Now, my portfolio is managed by property managers and I have a virtual assistant. I have complete autonomy over my day,", he added.

3. Don¡¯t be greedy

Greed isn¡¯t a requirement of a rich life. Even though they were busy people, the millionaire's coaches were generous with their time and attention. "I often give advice and connections to homeowners because it gives me a sense of satisfaction 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 business."

He added that the truly wealthy give with no expectation of anything in return, and the rewards they reap are exponential.

cnbc

Also Read: This Man Was World's First Ever Person To Become Billionaire

4. Value effort over everything else

Another thing he learnt is that coaches always valued hard work and never expected perfection. If you were trying 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, he opines, adding that he developed a strong reputation as someone who will hustle and try anything for my clients. His focus on effort, even if it leads to failure, has gotten him further in his pursuit of success than anything else.

5. Wealth doesn¡¯t require a suit and tie

The millionaire says that he never saw his coaches in anything but a tracksuit. They were their own bosses, so they dressed however they wanted. It was a stark contrast to his teammates¡¯ parents, who would rush from the office to pick up their kids after practice, exhausted and still in their power suits.

"My coaches¡¯ sense of freedom and authentic approach to life gave me a blueprint. I don¡¯t give 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 still don¡¯t know how to tie a tie," he adds.

Also Read: How Much To Invest In Order To Become A Millionaire

For the latest and more interesting financial news, keep reading Indiatimes Worth. Click here.