How one Southern California millionaire used tech to create a massive real estate empire

From Forbes.com:

How One Southern California Millionaire Used Tech To Create A Massive Real Estate Empire

At the helm of today’s progress is a technology that’s paved the way for monumental improvements in our lives — the internet has shaped our communications, commerce, entertainment, and of course, our insatiable thirst for information. It’s evolved over the years as other technologies have been built up around the expectant existence of the web, providing the very bedrock for change across every field imaginable.

Of course, without the internet, life would be quite different today. In fact, just a few short decades ago, life was drastically different. In the span of just over 40 years, we’ve gone from clunky room-filled computers to blazing-fast in-pocket smartphones that allow us to communicate, shop, travel, work and search through the world’s annals of information instantly, in real-time. It’s always on and it’s always available.

Forty years ago, games like Pong were considered breakthroughs in computer gaming. Today, fully-immersive real-world gaming environments dominate the landscape. We’ve gone from simple mechanical cars that helped us get from one point to another, to electric, autonomous, self-driving vehicles; from basic computing to advanced algorithms, quantum computers, virtual reality, the Internet of Things, and of course, the early birth of artificial intelligence.

For most people, the upshot of this earth-shattering technology has been an improvement across every spectrum of life. The masses have more options when it comes to transportation, shopping, services, travel, health and everything else thanks in large part to the web. However, while the internet has improved lives on the whole for a large majority of people, it’s only a small minority that’ve wholly embodied this technology to wield mind-boggling results.

The Impact Of Technology On Real Estate

It’s not enough to talk about the impact of technology on the macro-scale; it’s far more beneficial to see the effects its had on individuals to help bring to light just what’s possible with the right mixture of motivation and inspiration. Clearly, the internet has created wealth beyond measure for a great number of people. It’s opened doors and kindled an unfounded level of accessibility to average individuals from around the world.

In a recent article that I wrote about Instagram Influencers, I chronicled one such individual named, Manny Khoshbin, a Southern California centi-millionaire who’s amassed a mind-boggling $110 million commercial real estate portfolio. While Manny’s story was by no means an overnight success, it is the typical American rags-to-riches story that helps to empower individuals out there reaching for something that, today at least, might seem unattainable.

And, by all means, Manny’s story is a particularly fascinating one. And it truly shows you just what people can accomplish with the right affinity of habits and goal setting, along with access to information and persistent action. However, like others, Manny didn’t start out with the right opportunities, knowledge or contacts. In fact, he could hardly speak the English language when his family abruptly left Iran after a regime change at the age of 14-years old.

He often recounts the story of how his parents, himself and three other siblings, had to live in their station wagon while his father saved up enough money to rent an apartment. He passionately conveys how he once worked at K-Mart and skimped and saved every last cent that he could, taking the bus to work while others enjoyed the convenience of having a car. He speaks vehemently about how people made fun of him, racially abused him and discounted him at every turn and corner.

However, none of that stopped Manny. He was committed to getting really rich in life. It was that burning desire — a mission if you will, for a better life — that compelled him to succeed. By leveraging the technology that everyone else had access to, he ultimately made that vision a reality. With little opportunity and almost no cash, he used the power of the internet to understand, research, and ultimately buy, his first investment property — a single-family home located in Gardena, California.

Manny poured all his energy into fixing up that simple home. He renovated it with the little money and credit he had left and then put it on the market for rent. After two years had passed by, the value had shot up, netting him over $100,000 on that sale. However, while others might have used that cash to celebrate or buy a new car or go on a trip, Manny was a man on a longer-term mission. He turned that all-important capital over, using it as clout to purchase three new homes.

After his success with single-family homes, Manny moved swiftly into small apartment buildings, then into commercial real estate. In fact, it’s today’s income-producing value of his commercial real estate assets that’s provided him the capability to live an extraordinary life, one which he chronicles daily on his Instagram account. From his stunning home, to his beautiful family and two children, and his ever-evolving collection of luxury, exotic and hypercars, Manny has most certainly been blessed.

However, he tells me that it’s all thanks to the Internet. While Manny lives in California, much of his holdings are in Texas. He’s used sites like loopnet.com from the very start to research commercial real estate properties, creating alerts that helped to funnel him the right information at the right time. He tells me that it’s in large part thanks to that single website that he’s had so much success in the commercial real estate market.

Over the years, he’s bought and sold a jaw-dropping $450 million in commercial real estate, which has also afforded him the opportunity to build up one of the most impressive collection of cars in the Southern California area. Manny’s penchant for automobiles might also be labeled an obsession. However, it’s that obsession that’s drawn the attention of so many people from around the world to his Instagram profile.

The cars in Manny’s collection (and some in production) are worth well over $25 million, and include 3 (yes three) Bugattis, of which one is the new Bugatti Chiron, a Full-Carbon McClaren P1, a one-off Hermes-edition Pagani Huyara, the Saleen S7 TT, Porsche 918 spyder, Porsche Carrera GT, two SLR Mclaren roadsters (of which one is a limited 722S edition), the Mclaren 650S Can-Am edition, 3 Rolls Royces, a Lamborghini Aventador SV Roadster, Aventador Miura edition, one off Koenigsegg Agera RS full-carbon with the 1M engine, and two 4×4 Mercedes limited-edition G-Wagons.

Coming from a person who once had little grasp on the English language and lived in a station wagon with his family for several months, that’s an impressive feat. It clearly conveys the power of having the right amount of motivation and inspiration mixed with the proper access to information afforded by the internet. While anyone can most certainly do it, few are committed enough to seeing things through on that level.

Success Tips According to Manny Khoshbin

While droves of people might relate to his story, and everyone else out there has the same access to information that Manny has, not everyone is able to realize their potential and achieve their goals. When I asked Manny what drives him to keep pushing forward, even now, when his parents are telling him to relax and enjoy life a little, it’s that burning desire for a better life and to never have to live in a state of poverty ever again, which keeps him going.

However, there are some tips that Manny has for people. There’s a certain set of habits that have provided the framework for his success, much like the internet has cemented the foundation for an increased quality of living for people from all walks of life. In fact, there are 5 habits in particular that Manny highlights that have been central to his success. Emulate these habits, and anything is possible.

#1 — Set goals often

Manny is a fervent believer in goal setting. But this isn’t just about setting long-term goals; it’s also about setting daily, weekly and monthly goals. These goals act as markers towards our longer-term goals and milestones. However, these can’t be set passively, nor can they stay in the mind. They need to be written out somewhere on paper or on a screen.

#2 — Create a massive action plan

It’s not enough to set goals. You need a massive action plan. Create a plan towards the attainment of your goals and constantly challenge yourself. How are you going to get from one point to the next? What are the steps you’re going to take? While you don’t need to know everything right now, you do need a general plan of attack. Don’t be afraid to push your limits!

#3 — Effectively manage your time

Time is the greatest equalizer in the world. No matter who you are or where you live you have the same 24 hours in a day that every other person has. Use that time wisely. Plan out your day and avoid getting involved with time-wasters that zap your energy, productivity and, ultimately, your ability to succeed. Instead use your time wisely to research your next move so you don’t put your money at risk.

#4 — Stay positive and be persistent in your approach

Never give up. No matter how hard things might seem today, you’ll get past it as long as you don’t throw in that proverbial towel. There is always a solution for those that are willing to search for one. No matter what the situation, how bad it is or how dire it might seem right now, there is a way to move past that point and succeed. Keep your mind focused on the positive and eventually positive things will manifest.

#5 — Always add value no matter what

While the desire to make money is great, if you don’t add value to the world, you’ll never succeed. The most successful people in life have added the most value. There’s always a way to add value in whatever it is you’re doing as long as you concentrate on the long term rather than taking shortcuts or expecting hand outs. Never think short term and always consider adding value if you want to truly succeed in life.

 

Read more @

https://www.forbes.com/sites/robertadams/2016/08/12/how-one-southern-california-millionaire-used-tech-to-create-a-massive-real-estate-empire/2/#1601431de17d

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