346: Net Worth of $17M - From Big Macs to Race Tracks: McDonalds with a Honda to Software with a Ferrari

Millionaires Unveiled

Jace Mattinson

Investing, Millionaire, Financialplanning, Business, Self-improvement, Education, Finance

4.8 • 872 Ratings

🗓️ 26 February 2024

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

David has a net worth of $17 million. Most is in his company but he does have over $1 million in real estate, some cars and cash. He shares his journey from being an engineer to becoming financially free through real estate investments and the creation of a software company.

David also talks about his spending habits and the lifestyle changes he made after achieving financial freedom. He shares his decision to leave his job and the challenges he faced in transitioning to entrepreneurship. David emphasizes the importance of buying great real estate deals and managing properties himself. H

e also discusses his plans for the future and managing risk in his investments. In this conversation, David Lecko shares his journey of managing finances, building personal wealth, and making luxury purchases like cars. He discusses his passion for racing and how it has become a meaningful hobby for him. David also talks about how his lifestyle changed over time and the challenges he faced in managing his spending habits. He expresses his love for Austin and the vibrant entrepreneurial community it offers. Finally, he shares advice for beginners, emphasizing the importance of reverse engineering a proven business model.

Takeaways

Financial freedom can be achieved by investing in real estate and creating passive income streams.
Buying great real estate deals and managing properties yourself can be a successful investment strategy.
Transitioning from a W2 job to entrepreneurship requires careful planning and a willingness to take risks.
Managing risk in investments can be done by buying properties with good cash flow and focusing on a specific geographic area. Take control of your finances and pay yourself what you deserve for taking the risk to start a business.
Find a meaningful hobby that requires you to be fully present and pushes you out of your comfort zone.
Be mindful of your spending habits and make conscious decisions about luxury purchases.
Build a community of like-minded entrepreneurs who understand and support your journey.
Reverse engineer a proven business model to increase your chances of success.

Transcript

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0:00.0	I'm not going on trips I don't even have money to date right it was just years of
0:03.1	sacrifice and delayed gratification that then I just had to you know go wild I had to
0:09.3	spend some money just to feel good and go swing the other way a little bit
0:12.4	welcome millionaires and future millionaires.
0:15.1	You're listening to the millionaires unveiled podcast.
0:18.1	The show where you'll hear the stories and interviews of everyday millionaires will
0:22.2	unveil their decisions, their strategies, and
0:25.0	their portfolio allocations. Now to your host, Jayce Mattingen.
0:30.0	Welcome back to another percent of the Menories and Web Podcast. This is episode
0:36.4	of 346. Stace, it's almost March. Your favorite month of the year for March Madness. We have our own March Madness coming.
0:48.0	That's true. I do love March Madness. It is definitely basically another holiday in my house but yeah I mean the babies
0:57.1	are gonna be coming this month or I guess in the month of March but yeah gonna be
1:01.7	a little bit of madness around here, and you're hanging in there pretty good.
1:06.0	We have a lot of, we have a lot of a guest writing in worried about you, but you're crushing it.
1:11.0	Rightfully so, he says I'm crushing it, everything hurts crushing it. Rightfully so he says I'm crushing it everything hurts and I'm dying but
1:17.1	it's a bear hunt right can't go over it can't go under it I just have to go through it but
1:25.6	anyway I'm I'm thankful that everybody's healthy yeah and I think I said listeners guests whatever I said but yeah listeners speaking to listeners we've got a great review
1:36.2	this last week this comes from weekly financial motivation is the name I guess.
1:43.4	So I'm a new listener to the podcast.
1:45.3	I'm thoroughly enjoy hearing the experience of different everyday
1:48.2	millionaires each week.
1:49.2	I'm training for a marathon in April, so I often listen to several episodes at once while I'm logging 10
	...

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