Asking Millionaire Homeowners How They Got Rich

Alright you guys, this is one of the craziest cribs I've ever seen in my life. I can't even call this a house. This is a little compound, but let's see if we can get some free game. I wanted to open it up to just a few questions for your advice to the younger generation. Sure, I'll take it. Thank you sir, I appreciate that. Yeah, you want to come in? Yeah, thank you. Awesome. How long have you lived in Houston for? Uh, got here in 1982. Houston, Texas is the number 8 city in the world with the most millionaires. Today we're going to be asking multi-millionaire homeowners in Houston how they became wealthy. Alright guys, we just got to our first neighborhood out here in River Oaks. We're going to be going up to these doors, asking these multi-millionaire homeowners how they were able to become wealthy. Let's go in and see if we can ask them some questions. It's crazy man, because we're not just anywhere. We're out in Texas, and you know how these Texas people are about just going up to their places and solicitors. And even though we're not soliciting, we're really just trying to do this for a good cause, you got to be very careful because some people not take it the right way going up to the door with a camera. But we want to do our best to get this content for you guys. Alright guys, we're here at our first house in Houston, Texas. We're going to go up and ask this multi-millionaire homeowner how they were able to become successful. Hey, question for you. Wanted to know if we could ask you or someone at a few questions. Yeah, sure. Where are you originally from? I'm originally from Pakistan. And what industry did you ultimately pursue a career in? Anesthesia. I'm a physician. Oh my god, my journey is very, very long because I was a physician in my country, and then when I came here, I had to do all the licensing exams all over again. But, you know, the beauty about America is if you put your passion into something that you really want to do, people recognize that, and no matter what, they bring you up. What has been the most amount of money that you've ever made in a single year? I've made like seven figures plus, yeah. And what would you say is the best financial advice that you've ever received throughout your lifetime? You know, somebody once told me that the seventh wonder of the world is the power of compounding. So that $1 that you put into your 401k as a young person, when you retire, you will see the effect. So I always tell my kids, the minute you get a job, open your 401k account and put some money in. And my final question for you, for someone who is, I guess, pursuing healthcare and medicine today, it takes a lot to be able to work your way up and make seven figures in any field, but let alone in medicine, it's competitive. What's the biggest thing that really made you stand out in that industry that is a competitive industry? Honestly, it's 90% of my work. You know, the cream always rises to the top. For 10 years, I worked every Christmas, every Thanksgiving, holidays, nights, days. You get the reward. Thank you so much. I really appreciate that. I loved your answer. All right. Thank you very much. That was our first house that we went up to today. She's killing it. Over seven figures in a single year as a physician. Came from Pakistan, now lives in the United States. I loved her answer talking about compounding interest. But guess what? She said, that's the seventh wonder. Let's go find the eighth wonder and find this next house. Hey, sir. Quick question for you, sir. Are you the homeowner? Yeah. Would love to just ask you a few quick questions on how you became successful. No, I don't think I'm going to do that. No worries, sir. Have a great day, though. Thank you very much. Thank you. Even though we started the day off with a win, we had no idea what was coming our way over the next five hours. Country, but I'm based in Austin. Just asking beautiful homeowners a few questions on their advice to the younger generation. I have no interest yet. No worries. Have a nice day. Trying to become successful one day. No, have a good one. I'm sorry. I don't have any interest. No worries, sir. Have a nice day. Thank you. Hey, he didn't have any interest, but he would have had interest because he would have gotten a million views, but all that matters is that you're liked and you subscribe to this video and go follow the School of Hard Knocks everywhere. All right, you guys. We just pulled up to an absolute compound out here in Houston, Texas. We're going to go up and see if we can talk to them, but it's going to be hard because it's gated. We'll see if they can come down. I'm sorry. We can't talk right now. Okay. No worries. Have a nice day, sir. Couldn't talk right now. It sucks. It's hard. A lot of these guys are super busy people, very high class people, so it's going to be hard to get a lot of these people's times, but all we can do is keep going and go get the next one. This is one of the craziest cribs I've ever seen in my life. I can't even call this a house. This is a little compound, but let's see if we can get some free game. How are you doing, sir? Just asking beautiful homeowners a few questions on their advice on how they became successful for the younger generation. I thought you had one of the most beautiful homes in Houston. I wanted to ask you just a few questions. Sure, I'll take it. Thank you, sir. I appreciate that. Yeah, you want to come in? Yeah, thank you. Awesome. Cool. What industry did you ultimately pursue a career in? I've actually had only one job in my life. I started when I was 17 years old, working part-time at McDonald's, going to college, and I just stayed with it, and that created all this, and my children have their own restaurants as well. So you start an open McDonald's? Well, you become a franchisee. So how many McDonald's have you opened throughout your career? Well, that's a bigger number. We currently have 50, and my kids have 19. That's incredible. And how have you really been able to scale your business? A lot of people, they'll have a great idea, they'll start a business, but they struggle to scale. That's the energy that a franchise will give you. Of course, you have to have some experience and the will to work hard and get it done. It was really about perseverance. You've got to be with the right franchise, too. You don't want ones that fail. Throughout your career, what's the best financial advice you've ever received throughout your lifetime? Well, I give the same advice to anybody else I give to my kids, and the advice I followed. I lived with enough money just to make ends meet, and all the rest of it went to pay down debt. Once you get out of debt, you become much freer in a lot of things, and I mean all kinds of debt. Car debt, house debt, business debt, of course, comes first. What's been your secret to sales? Well, McDonald's is a formula. The advertising is nationwide as well as local. I've done a lot of committee work on the national level, and that's been my whole career. It's been great. It's a great business. It's hard working, very difficult, but if you stay with it, you'll get the reward. Final question for you. Any last words, any advice to the younger generation that's aspiring to own a multimillion dollar house like this? Well, this didn't come overnight. Let me just say that. We've been here 12 years now, and we built it from scratch. Our vision, we collect a lot of art, and that's the story. We just enjoy and want to pass on the wealth to other folks. Thank you so much for your time. I really appreciate that. It means so much that you've taken the time to answer some questions for us. Thank you, sir. I mean, that's one of the most insane houses that I've ever been in my entire life. My man owns McDonald's all over the country. Let us come into his home. Did you guys see the artwork in there? Did you guys see that house? I mean, that's got to be one of the craziest experiences I've ever had running this channel. Look at this house right here. Show them the house real quick. Part of the game of going up to these people's houses is you've got to make a good first impression. You're asking these people for their time. You're knocking on their doors. You're bothering their day. You have got to sell yourself in, like, the first 5 to 10 seconds that you get there. Making a good impression is super important, and we do just that at the School of Hard Knocks. All right, you guys. Just look at this crib right here. I don't know what this person had to do to be able to own this place, but regardless, we're going to go and find out. Hello? Yeah, can I help you? We wanted to know if we could just ask you a few quick questions on your advice to the younger generation and how you became successful. OK, go ahead. Could we do it in person, or if we could do it over there, it's totally up to you. I'm not at home. I'm in California. Oh, OK. Yeah, I guess. What did you do for a living? I'm a physician. What's the best financial advice that you've ever received throughout your lifetime? The most important thing, probably, is to not overextend yourself. So you have to live below your means, and if you live below your means, I think you could get, during bad times, you're pretty safe. But if you don't live below your means, what happens is you're going to have expenses Final question is, you've clearly got one of the most beautiful houses I've ever seen in Houston, and to own a multi-million dollar home like this, it obviously took some incredible hard work. So maybe any last message for the younger generation on how they can really become successful regardless of their industry? I think what happens is people look for the easy way, and if you look for the easy way, you're never going to find it. Thank you, sir. Have a great day. My man wasn't here, but he was nice enough to do a five-minute interview. He's out in California right now, and he took the time to actually join the call and talk to us while we were at his house in Houston. Second position of the day, but that's crazy, man, the real game that he gave. Don't overextend. Don't over-leverage yourself. Get your head in the game. Put your head down, and don't look for the easy way out. Let's keep going. All right, you guys, this house is listed at over $36 million on Zillow. We're going to go see if someone's home and figure out how they were really able to own this house. How's it going? Good. How about yourself, sir? I was like, what'd you do for a living? I used to own and operate automobile dealerships in Houston, Texas. Yeah, I owned Champion Ford, Texan Ford, Texan Lincoln, Mercury Zuzu, and a number of other stores, and then I sold my company to AutoNation and ran AutoNation for about a year and a half until I basically resigned and then started doing some investment projects and other things like that, so I started to buy my own stores. If you were to go back to when you started your first business, what's the number one thing you wish you would have known? I wish I had an opportunity to learn more about operational businesses at school, at the business school at the University of Texas, and really attended a class that dealt with what you're going to deal with as a young entrepreneur when you go and start to operate your own business. You're not going to do it by the textbook. You're not going to really learn that in school itself. You're going to have to basically get with somebody who's willing to mentor you and take the time to instruct you on everything you've got to look at. The company I went to work for after I left Ford Motor Company in 1979, it broke within three months and it went bankrupt, almost bankrupt, and we salvaged it to become the number one Ford dealer in truck sales in the country in a year and a half. We did that because we really organized the team to come together on one, what I call the biggest thing ever in my life, is a rallying point, a motivational point. Something that you have passion about that you can motivate others to achieve at a higher level and excel, and they have to believe in that as well, and that vision they have to embrace and they have to engage wholeheartedly and realize that you're not going to do it on a piece of paper. You're going to have to do it in practice, and it's a lot harder to do in practice than it is when you're writing that piece of paper and you're putting those numbers down, that they're trying to teach you in accounting class or in business school, here's what your assets are, here's what your liabilities are, here's what's happening at that stage. When you sit in front of a bunch of people and you've got to make a payroll of $150,000 a week, $400,000 a week, a million dollars a week, and you've got other families relying on you as the leader of that organization to try to achieve that and make that accomplishment come true for everybody, you've got to have that rallying point, you've got to have that motivational point. But there's one thing you guys need to learn coming out of school, you don't have to be the smartest guy, okay? Yes sir. You don't have to be the biggest guy, you don't have to be the fastest guy, all you have to do is be the best guy you can be and you can be that by outworking anybody else in that organization. You learn to outwork everybody else and I promise you good things will happen for you. Wow. Hey. My man showed up to the gate, it just dropped a five minute bomb on us on how he was able to, he sold his company to AutoNation, ran multiple businesses in the automobile industry for years. This guy's a mogul, look at his career, look at him going back in there, you've got to show him, show him that. What industry did you pursue a career in? Well I was a professional touring musician, then when I turned 40 I became a chef and owned restaurants and run restaurants and now I cook for high profile clients. That's amazing. The food and hospitality restaurant business can be very competitive. What's the biggest thing you've implemented throughout your skill set as a business owner to really stand out? Your biggest asset is your staff. Treat them like gold and they'll treat you like gold. It's a team effort, you can't do it on your own. You've got to treat your staff well and they'll bend over backwards for you. So I guess I'll kind of end on by asking you, for somebody coming out of school today, what's your best advice to someone starting out in the real world? How can they really put their head down, become successful and earn six figures? Work hard, play harder. How can you play harder? It's all about balance, you've got to make time for it. If you burn yourself out and you let life pass you by, sure you have a lot of money, but don't take that with you, take experiences with you. What kind of cigar do we have right now? Oliva V. Oliva V? Have a good one man, thank you so much for your time, have a great day sir, really appreciate that, means a lot, thank you sir. Hey, the only thing I regret was not asking him for a hit of that Cuban, but a man came through, we stopped him on the street, coming in, professional chef, owned restaurants around Houston, man, Houston's crazy, you never know who you can run into out here, but let's keep trucking, let's go get this next one. So, what was his name? It's Captain Tillman. Okay. F-E-R. Okay. T-I-T-T-A. Hey, that's a billionaire that lives there. Crazy. Oh my God, he owns the Rockets. Are you serious? Yes. Security guard came to the door, asked what we were doing, trying to get an interview, he said, you can look up, his name's Tillman Fertitta, this is the owner of the Houston Rockets that lives here. Are you serious? He's a billionaire, he owns Landry's Inc. and the Houston Rockets. I literally today said, what if we found the owner of the Houston Rockets now? He's got a home, we found his house, that's ******* incredible. His net worth is 8.4 billion dollars. My man's out here, he's pulling back, he was driving with the Rolls Royce, we're gonna go and try and snag this interview real quick, see what the hell this guy did on how he was able to own a Rolls Royce out in Houston, Texas. Hey, excuse me bro, question for you, is this your Rolls Royce? My friends and I, we started the channel in Austin, Texas, we grew it to 1.5 million followers. Is that cool, can we ask you a few questions? Yeah, sure, that's fine. So I guess my first question for you is man, like you're having a conversation with a young kid, 20 years old, he's fresh out of college, he wants to get serious about becoming financially free. What is the 60 second blueprint that it took for you to be able to own a Rolls Royce? Oh man, it took about 10 years for me to really figure out business and how to become successful in business. So 60 seconds might be tough, but I would say if I had to sum it up, it's you have to always want to learn. It doesn't come, it's not just gonna come easy. If you think it's gonna come easy, you're not gonna get it. But if you want it and you're willing to learn and you're willing to work, then you'll find out whatever it takes to get it. But if you want, we can talk more about business in general and elaborate a little bit more because I think it's gonna be hard to explain it in 60 seconds. Would that be cool? Could we come in for a little bit? Yeah, if you guys want, I got a few minutes. All right, let's get it. Let's go guys. Yeah, so if you guys want to come on in. Oh, the mic for me? Yeah. You guys came prepared. Cars are my thing. I do love cars. Yeah. Could you kind of explain what cars you own right now? Yeah, I'm building a house for a bigger garage because I can't hold them all here. So a lot of them are at my warehouse, but you saw the Rolls Royce. We've got a Lamborghini Urus SUV with a wide body kit. I love classic cars. So you see a 1972 Chevelle with a 454 big block in it. Over here, you see a red Ferrari 458 naturally aspirated, one of my favorite cars. But this is definitely my childhood dream car. So this is the Lamborghini Diablo. I had the poster of this car on my bedroom wall when I was a kid. So to drive it and to own it, to me, it's like a dream come true. But come on in. We'll talk a little bit more. So like what industry did you ultimately pursue a career in? Yes, I became a doctor and then I specialized in emergency medicine. I thought I'd handle all traumatic and medical emergencies that would come into the ER. Now, how long have you been an entrepreneur? So I started relatively early. My first year after graduating is when I started turning the wheels on my first medical facility. So sometimes you don't want to wait too long. I think a lot of people will say, oh no, let me wait for this, let me wait for that. Sometimes you have to, but sometimes you're just stalling. You're just a link. And you might start saving up money, then you're like, well, let me buy this first, let me buy that first. And now you don't have the capital. But if you can focus and just save as much as you can. Like my first job, I worked like three times as much as a normal doctor. It was nonstop because I knew I had to save to have enough money to take to a bank and get a loan to build my first facility. Throughout your lifetime, what was the best financial advice you ever received? You don't go for money, but think of money as a tool, as a tool to do something great. I think when you approach it that way, you're always happy even when you don't have the money. Even when you're trying to build yourself up and become successful in business. But if you focus on money and cars, you're never going to be happy. And if you're not happy, you're probably not going to have the drive and the passion you need to get there. So never focus on the money and think of money as a tool to do great things.