509: Cars & Cashflow: Manny Khoshbin’s Story from Homeless to $1B
If you scroll through Manny Khoshbin’s Instagram, you’ll see wealth, success, and a lot of very nice automobiles. You may look at his life and say “well, that must be nice”, but there is much more to Manny than Ferraris and private planes. A few decades ago, Manny was homeless, sleeping in a car with five other family members, simply trying to survive in America.
Manny’s dad wanted to protect his son from entering the military in Iran, so two weeks before Manny’s birthday, the family packed up and left for the United States. They were homeless for a couple of months but slowly were able to find jobs and scrape together some money. Manny worked at a swap meet, a K-mart, a multi-level marketing company selling snacks, and other various jobs.
As he was working he realized that the people driving the Porches, Lamborghinis, and Mercedes were all investing in real estate. After making money in his entrepreneurial endeavors, he bought his first commercial property. Now, two and a half decades later, Manny is sitting on a billion dollars worth of real estate. Oh, and did we mention he bought this all without syndicating?
In This Episode We Cover:
Manny’s “American Dream” story from immigrant to multimillionaire
Why commercial real estate is such a profitable investment
Value-add opportunities and flipping commercial real estate over the span of a few years
Which real estate industries are on the downward trend (and which to invest in)
The steps new real estate investors should take to make it big
Why Manny’s luxury cars are an investment, not just toys
And So Much More!
Links from the Show:
Books Mentioned in this Show:
Trump: The Art of the Deal by Donal Trump
Manny Khoshbin’s Contrarian Playbook by Manny Khoshbin
Driven: The Never-Give-Up Roadmap to Massive Success by Manny Khoshbin
Check the full show notes here: https://biggerpockets.com/show509
Learn more about your ad choices. Visit megaphone.fm/adchoices