MANNY KHOSHBIN: From Homeless To $250 Million Real Estate Mogul & Luxury Car Collector, He made it!

my next guest spent part of his teenage years living out of a beat-up station wagon with his family well now he's got 13 million dollars in collectible cars three homes and he says he's worth over 130 million bucks [Music] Manny Cashman is one of the most exciting entrepreneurs in the world today with real estate holdings in excess of a quarter of a billion dollars Manny also has a world-class car collection that would make even the finest car connoisseurs and beasts [Music] I came from Iran yeah age 14 it was a skinny little boy you know that escaped you know that regime going to the war and all that stuff and my dad and my mom and three siblings you know they decided to leave Iran two weeks before my 14th birthday because at age fourteen you you know they basically make you go to the army and you can't really leave the country that's none of us has spoke a word of English so it was very difficult to come here and not be able to communicate we only had two thousand dollars you know cash we arrived to USA my dad was promised to drop by his friend that on the gas station and two nights at their house we were forced to leave so we end up buying a 1972 Datsun a station wagon and that became our home for a couple of weeks until my dad was able to get a job after a few weeks raised enough money for he security deposit for a one-bedroom apartment now I was basically carrying all the guilt because everyone's suffering because I mean that really was like built my personality had to grow to be a man fear is you know always with you you know I don't know anyone that you know honestly can't say they don't have fear in life you know you have fear of something you know or another but if your motivation exceeds fear you're you're always been overcome so at 16 I was legally able to work and I applied for a job at Kmart and I was collect 407 I was a you know clerk to clean the bathrooms a stockroom mop the floors and I found this company that's selling multi-level marketing door-to-door sales ee WI so I call them it's at earn 500 at the time I was earning three dollars and fifteen cents an hour a little over 100 bucks a week so I'm like wow that's five times more than I'm making so I quit Kmart I went work for that company and but then four to five months I was one of their top salespeople and then one night me and my dad are shopping a price Club back then was at Costco his price Club and I did a quick math on the nuts and cashews and trail mix and I'm like wait there's something nice for $3 a pound this company is selling it to me for double why don't I just buy the nuts from price Club and back and sell myself then I used my dad's PC to print the labels and I start my own business I was 18 and that's one guy bought three bags and next morning 7:00 a.m. I show up and he's at my door he was a health inspector for Orange County so I had to shut it down and that was a sad day but I have some money saved but I don't know what to do with it right I like clean house more safe and then my dad says oh my friend was telling me we can buy a gas station you know he hired a loan officer to do my his SBA loan and unfortunately sadly backlight that guy turned out to be a con so I lost all my 20 grand it was depressing that was my first basically near bankruptcy but it's super depressing because that was you know hard cash and hard and money you know I you know made that money being discriminated Casta but you know I told myself look you know it maybe it wasn't meant to be you know you have to believe in that you know the you know if you put the effort you put everything good intentions with the hardness you can and it doesn't work out there's a reason for it right there's something better waiting for you you got to celebrate your failures and your success because there is a lesson to be learned in everything you know when you have a great success a good exit you sell a company or whatever it may be you celebrate because the good milestone in life and then when you lose something bad happens hey it's a expensive lesson unlearn you're still celebrated yeah because if if you take it about the negative notation that's just gonna keep eating you inside and it's gonna limit your upside and then I as I surround myself with more successful people and that's a big secret to success as well you know you're a product of your environment so always you know in you know find new friends that are older and more successful than you so I was like a sponge you know learning from people around me right yeah so I met this guy and he drove a Camaro Porsche and so what do you do he goes I own a mortgage company and I'm like okay what do you do loans and real estate and I'm like okay cool so I told him I work for a once entire company but you know he liked my you know my attitude my motivation my energy it was hey why don't you come you know dude loan processing for me that's all right so I got my real estate license I worked for him for five or six months and then I realized how much money you can make in loans because I was processing I might see how much chicks commissions you were getting on each loan and and then I tried to open my own mortgage company I realized you need a broker I met another guy through the circle that he was a broker but it was not as motivated yeah you know cuz you just get rich parents you know yeah but he was a broker so I'm like hey Mark why don't we open a mortgage company I don't have a broker license but we do over 50 50 it's like okay so but I was the go-getter one you know mostly my process was what my investment was always reinvest the money he's like you know buying a cow you don't sell the cow you saw the milk and even when you sell the milk you take part of the profit and invested in a second calf yeah you know and only with that 30% of it whatever you maybe you go by you know iPad iPhone whatever you have so my mentality was always reinvest reinvest you know don't spend the principle reinvest the cash flow you know and that's how amassed all this real estate and I told myself I said hey I'm gonna buy a Bugatti when I can buy ten of em cash but so I made 200 you know of course at $300,000 my first year and the mortgage company mostly from the auction house and so that was huge I mean I think out of the box we gotta do something even more aggressive right so seventy-nine cents plus and it was called Elba they're gone which means in a spanish warehouse yeah so we opened that and we were doing great we were making 30 grand a month and we said okay one of these you know converted to a supermarket because every you know all the Hispanics and I they loved to eat and then it was doing fantastic so we opened the second one a big chain opened right next to us in Santa Ana as soon as I had their grand opening our so dived fifty percent and then so I sold it for twenty eighty five thousand or with me one and a half years oh wow I remember I used to work seven days a week 12 13 hours a day I used to close the register take the money and then go stop stop by 24-hour fitness I wasn't even going home I stopped by the gym throw the money in the safe and then go to the gym and work has won and it the funny part is for me was the challenge because I really knew I could get out of it you know oh you know when somebody likes keep stabbing you this I know how bankruptcy you're crazy how you gonna can do it before this big change you know to me I was like sometimes you know those negativity actually gives you life and so that was great so after yen half I sold it $285,000 I owed like 140,000 or 180s on my credit cards I was paying four thousand one interest I lived in a one-bedroom apartment I had sold my house my car's I had a 500 sell at Lexus ls400 back then was a big deal yeah for I'd like to $300,000 in cars I had to sell all those to keep up with the payments and so after a year and half I lost everything I was negative net worth until I saw the supermarket then I took that money it was October 1990 that's number 1998 is when I sold it and I open at each rate I count because I saw everybody all my friends are making hundreds of thousands of trading stocks I tripled that by September 1999 this is a lot of it is the most money I've ever seen and I want to invest in a real estate I put $20,000 cash down and bought that property and I bought two other REO homes in Orange County so I started three properties from the money I mean in stock market so I went from people tell me file bankruptcy now I want a shopping center and two homes you know it's that my mother's never give up because that's been is it's just not a possibility you know for me I rather die nothing give up I made my first may million when I was 29 it was like getting the taste of success is addicting you know you know when I started you know selling drunk from you know dumpsters and it swapmeet I then I'm gonna own all these cars I'm really I didn't know I'm gonna end up being a real estate investor don't worry about you know five ten years from now worry about worry about how can you improve today you know improve yourself mentally physically with people around you and even your job you know always been lookout you know on a better opportunity and then eventually you'll get there if you're a striving for a higher ground you're gonna get there but you don't have to worry about how you gonna get on all top of the mountain right now you know just do baby steps you know as stepping stones you know yeah and that's what I would say you know don't have that anxiety a lot of people are trying to figure the whole thing out right now today yeah and that's a mistake you know just know that it's gonna take time and if you put your best foot forward and you have your subconscious is gonna do the rest just focus and the bigger picture as you're climbing the mountain and an invest in real estate and ignore the noise there's always noise around here always weather is your own siblings or your friends there's always people doubting you you know why because that's that their mentality and are they thinking you can't do it and you know pawn haters call whatever you come on I can't dollars but you know Dow dollars never you know you know discouraged mean you know they actually encouraged me because I love showing the next time what are you saying you know crush your fears you know whatever your fears are as you face them and you overcome them of course you know the video anyone that does anything for the first time you know it's a little scary you know weather is doing skydiving boy you know jumping in the ocean for the first time you know if you got a fear of sharks yeah so but it's amazing the feeling you get afterwards that's probably you know one of the key factors to including yourself is facing your fears you know I always knew like anything I'm doing early on is a stepping stone you know what that meant how he had a you know I had a much bigger picture in my mind you don't want it to be a multi-millionaire I wanted to own a bunch of exotic cars a big mansion as a matter of fact at age 15 or 16 I drew a mansion with some palm trees in front of it and two Mercedes right back then I don't know what the Ferrari or Lamborghini Mercedes right yeah so I I drew two convertible Mercedes with palm trees you know you envision your dream where you want to be and then your subconscious will take over if you're you know I really put the effort your subconscious will do the rest

Channel: Motivation Beast

Views: 336,634

Rating: 4.9410462 out of 5

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Id: kHoxFL4LtY0

Length: 12min 7sec (727 seconds)

Published: Mon Apr 27 2020