In 2001, Alan Corey made a significant transition from residing in his mother’s basement in Atlanta to establishing a new life in New York City. At the age of 22, his aspirations were aimed at achieving millionaire status. Despite lacking affluent connections or guiding mentors, his determination remained unwavering.
Drawing motivation from individuals he knew who led prosperous lives, such as his childhood basketball coaches, Alan Corey found inspiration. Among them, one owned a medical supplies enterprise, while another focused on real estate investments. It was these figures who played a pivotal role in shaping his path toward his current achievements.
Presently, Alan Corey stands as a self-made millionaire, boasting a property portfolio encompassing 366 units. He successfully manages his own business pursuits and, during his leisure hours, engages in coaching basketball. He attributes his initial million-dollar accomplishment to five key habits that he adopted along his journey.
Alan Corey observed his coaches exclusively attired in tracksuits, a visual representation of their autonomy as self-employed individuals. This stood in sharp contrast to the parents of his teammates who hurriedly arrived in formal power suits to collect their children post-practice, exhibiting signs of weariness from their corporate endeavors.
The coaches’ embodiment of liberation and their genuine outlook on life served as a guiding model for Alan Corey. This experience shaped his perspective, steering him away from a preoccupation with appearances. Instead, he directed his focus towards enhancing his overall quality of life beyond professional pursuits. Notably, he maintains his stance on this principle, even confessing an unfamiliarity with tying a necktie to this day.
Despite having the weakest shot within the team, Alan Corey’s coaches invested minimal effort in refining his shooting skills, as his exceptional defensive prowess held greater significance. They actively endorsed his defensive capabilities and played an instrumental role in his improvement.
Under their guidance, Alan Corey imbibed the lesson that everyone possesses weaknesses, which is perfectly acceptable. The coaches imparted the wisdom that achieving a balance in all areas of gameplay might not necessarily result in making it to the NBA, whereas those who excel in specific skills often thrive.
Translating this principle into his financial pursuits, Alan Corey adopted a focused approach. He recognized that his innate talent lay in identifying off-market houses with willing sellers. Instead of pursuing the same properties as everyone else, he concentrated on this strength. As a consequence, he not only secured more lucrative deals but also expanded his network through this strategic methodology.
Undoubtedly, Alan Corey’s coaches possessed the potential to dedicate their afternoons to more financially rewarding endeavors. However, they grasped the concept that time stood as their most valuable asset, opting to invest it in the pursuit of coaching basketball.
This imparted a profound lesson to Alan Corey, revealing that genuine wealth emanates from allocating time to pursuits that hold true significance. He internalized this philosophy, channeling his efforts into real estate investments and business development. His goal was to ultimately liberate himself from the confines of a traditional 40-hour workweek.
Today, Alan Corey’s property holdings are efficiently overseen by property managers, and his operations are supported by a virtual assistant. This arrangement grants him complete control over his daily schedule, exemplifying the autonomy he has achieved.
Acquisition of wealth does not necessitate a disposition of greed. Alan Corey’s coaches exemplified this notion, as their demanding schedules did not hinder their generosity in offering time and focus to others.
Drawing from this example, Alan Corey wholeheartedly embraces the practice of providing guidance and establishing connections for homeowners. This endeavor brings him a sense of contentment and delight, as he finds gratification in simplifying arduous processes for others. This altruistic approach has yielded a wealth of benefits, including referrals, undisclosed property transactions, and a stream of prospects for his real estate ventures.
Alan Corey understands that genuine affluence is marked by the act of giving without any expectation of reciprocity. This philosophy, he affirms, results in a multitude of rewards that far exceed one’s initial efforts.
The coaches who guided Alan Corey consistently upheld the virtues of diligent effort and dispelled the notion of attaining flawlessness. They placed a premium on industriousness and held the belief that even attempts leading to failure held merit. Alan Corey envisions that their approach extended to their entrepreneurial endeavors as well.
He recognizes the significance of persistent endeavors in the realm of business. Alan Corey attests that scaling the heights of success requires a commitment to constant and unwavering effort. There are no convenient shortcuts to achieve substantial accomplishments.
Through adhering to this principle, Alan Corey carved a distinct reputation for himself. His dedication to wholeheartedly engaging with tasks and his willingness to embrace diverse challenges for the betterment of his clients became his hallmark. This steadfast focus on exertion, even in the face of setbacks, has propelled him further along the trajectory of achievement than any other strategy.
Alan Corey is a podcaster and real estate entrepreneur. He co-founded House Money Media, a company dedicated to launching first-generation real estate investors, and is the author of “House FIRE: How to Be a Red-Hot Real Estate Millionaire With a Wealth of Time and Money to Burn.” Follow him on Twitter.
Source: cnbc.com
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