Multifamily Investing Made Simple

Book Deep-Dive: Mistakes Millionaires Make

May 04, 2022 Anthony Vicino and Dan Krueger Episode 202
Multifamily Investing Made Simple
Book Deep-Dive: Mistakes Millionaires Make
Show Notes

Everyone makes mistakes right? How about a mistake that loses you $200 hundred million? Today we are breaking down Mistakes Millionaires Make.

Remember, with each episode, we will provide a helpful Deep-Dive infographic where we break down the entire book on to 1 page! Check out, and download, this week's infographic below!

Harry Clark's, Mistakes Millionaires Make, gives you insight into the stories of millionaires you don't often hear. Behind the tales of glitz, glam, fame, and money... are the failures. It hurts the most when you fall from the tippy top. And Clark hopes to help prevent that from happening to you with this book. He interviews 30 entrepreneurs who ultimately achieved or maintained success, but not without the pitfalls of that journey to becoming a millionaire, and the catastrophic effects those losses had on them, their families, and countless others.

Here are our top 10 takeaways:

  1. Diversify
  2. Earning It VS Keeping It
  3. Know Yourself
  4. Asset Protection
  5. Leverage: A Double Edge Sword
  6. Keep It Simple
  7. Don't Do Business With The Government
  8. Cash Reserves
  9. Bad Luck Is Omnipresent
  10. You're Half Wrong

Download the infographic here! 

Tweetable Quotes:

"Bad luck. It's omnipresent. And if you stay in the game long enough, you're going to be exposed to some pretty, pretty bad luck.– Anthony Vicino

"That's the innate nature of investors, to look at what the risk is, but a lot of business owners don't, they don't look at the downside."  – Dan Krueger