- The rags to riches life of Mike Summey
- Know Where Your Money Goes
- Develop a Pattern of Investing
- Develop a Personal Budget and Track Your Money
- Think Like an Investor, Not Like a Consumer!
- It takes planning and determination to be successful
- Patience and persistence are unstoppable
- Learning is an everyday task
- Seek positive advice when setting life goals
Mike Summey is an entrepreneur in the truest sense of the word.
From a humble upbringing in the poverty-stricken coalfields of Southern West Virginia, he struck out to make his fortune at the tender age of 15.
With little education and no money, he stumbled his way through several menial jobs ranging from carpenter work to factory jobs and even door-to-door encyclopedia sales.
In 1967, at age 21, after being laid off from his factory job and given $300 in severance pay; he paused to contemplate his future.
After considerable thought, he wrote down a simple sentence that he
carried in his wallet for the next 30 years. The sentence read,
“I will become a millionaire by age 30 and retire by age 50.”
What followed was like a fairy tale and speaks volumes about the power of having goals.
When he compared the meager wages he made working for someone else to the lofty goals he had set for himself, he knew he would have to change careers to have any hope of achieving them. The shock of losing his job, made him determined not to ever be at the mercy of an employer again.
He invested the $300 severance pay in an old van and started a small sign shop that he eventually built into a billboard company. Among his many accomplishments in the outdoor advertising field, he invented and patented the single pole construction used throughout the world today and designed the first fully integrated computer software for the industry.
However, it was advice from his accountant, that started him down the path that led to his writing: The Weekend Millionaire’s Secrets to Investing In Real Estate.
His accountant advised him to start diversifying his investments and recommended real estate. This all sounded good, except for the fact that it took all the money he could scrape together to keep his capital-intensive business growing and there was simply no surplus money left to invest.
Aside from the money problem, having to oversee offices in two states, made time a commodity in nearly as short a supply as money
Mike started like many new investors, spending an hour or two when he could find the time looking for properties he could buy with little or no money down and favorable financing. After several months, he found a small house that met his criteria and he purchased his first rental property. From this meager start, he went on to build a fortune in real estate using his spare time.
Right on schedule with the goals he carried in his wallet, he sold his company and retired at age fifty.
Today he enjoys a six figure monthly income from his real estate investments, lives in a dream home located on a beautiful gated private estate and flies his own pressurized twin-engine airplane.
Mike Summey what he credits for his success, he is quick to say, “It’s my education.
I have Ph.D., from the University of Hard Knocks.” His philosophy of how to become wealthy and his explanation of how to live the Lifestyle of Success are fascinating in their simplicity.
He doesn’t talk a lot of theory and he won’t try to baffle you with a lot of hype and rhetoric.
With his friendly down home Southern drawl, his often-humorous anecdotes and real life stories, it’s easy to see why, to paraphrase, “When Mike talks… people listen.”
News At Ten
Good Day New York
Good Morning Texas
Reach For The Stars
Dollars and Sense
Books by Mike Summey