The following is a letter I received a few years ago from a true “Millionaire Next Door”…
I am a 39 year-old Californian who is writing to let you know that I think your books, The Millionaire Next Door and The Millionaire Mind are right on the money. Please excuse my spelling and penmanship. I have no education. I was very dyslexic as a kid and they figured I was just a dummy. I am in the car detailing business in a very prosperous area. I detail only high end cars at my customers’ homes. I work out of a 9 year old Toyota truck I bought used with 75,000 miles on it six years ago. As a result, I have made a very good living in this business.
At the age of 27, I bought a repo condo for $105,000…fixed it up and sold it for $190,000 two years later. [Good timing] Then I bought a custom built 2,000 square foot house for $300,000. But I got tired of paying them payments at $2,000 a month. My friend told me to sell the house and take the $100,000 and put it towards a 4-plex. That way you live for free.
Well, 4 1/2 years later I still live in the apartment and I have bought both 4-plexes on both sides of me and one across town. Now I still make the same money detailing cars. It’s my investments that are going to make me very wealthy. I plan to get another building this year and hopefully go over the 2 million dollar mark. I get a real kick out of myself thinking maybe one day in my life time I could really be a multimillionaire.
You may wonder how I figured all this out on my own. Well I work for the real wealthy…the people I work for with a ton of money or cash flow are not the doctors or the attorneys. I started looking at my customers and looked at the life style not the house or cars. I found that the people who had apartments would do whatever they wanted. I used to want to be rich to show off. Boats, cars and so on but the more I understand money the more I realize that people with money don’t care so much about money or I mean having the big ticket items.