I watched my mom struggle to make ends meet and my first job was making sandwiches – now I’m a self-made millionaire
A MAN who watched his mother struggle to pay her bills began investing in real estate at an early age and became a self-made multi-millionaire by 30.
Todd Baldwin, 31, has revealed his top tips for saving pennies and building wealth from scratch.
From a young age, Todd knew he never wanted to face financial stress like his mother did and became a shrewd entrepreneur early on.
The American started out making sandwiches from the bottom, but a few years later Todd was earning enough in commercial insurance sales to invest in real estate in his early 20s.
From there, he bought a six-bedroom house outside of Seattle and began “home-stealing”.
Todd cleverly rented out the other rooms in his house, covering his mortgage costs and even making a tasty profit every month.
Over the years Todd has built an impressive property portfolio and by the age of 25 his new value has reached £800,000. insider reports.
At the age of 28 he reached dizzying heights, became a self-made multi-millionaire and quit his job.
However, he explained that the key to his success was both his burglary attempts and his thriftiness.
By 2020, Todd and his wife Angela managed to save 80 percent of their salary by refusing to spend money on certain things in life.
He said CNBC that they refrain from spending money on entertainment and leisure activities such as going to the movies or eating out.
Instead, they found a loophole by doing these things for free as a secret shopper.
Home theft still makes up a large part of their income and renting out rooms in their own property means they’ve almost completely paid off their mortgage.
These days, however, the two live a little less frugally and have taken a step back from clandestine shopping and home theft as their net worth is now £3.2million.
Todd is currently involved in big wholesale property deals – working between sellers and investors to secure deals – and has raised £800,000 in just five deals in 2022.
A man of many entrepreneurial talents, the real estate entrepreneur also invests in the stock market, where he tells others to invest in what you know.
Beyond this practical advice, he encourages others to diversify by spreading their money across different investments to reduce risk.
His next top tip is not to confuse investing with saving as they are very different concepts.
If you want to build up your wealth, you shouldn’t just save, he advises.
In conclusion, Todd recommends investing for the long term and giving up the idea of get-rich-quick schemes.
“Set and forget,” he told Insider. “Do not engage in day trading”.
On his Instagram, Todd he told his followers: “There are only two rules in investing: Rule number one, never lose money.”
“Rule number two, never forget rule number one.”