SOMERSET, NJ / ACCESSWIRE / November 10, 2020 / Former professional basketball player turned entrepreneur, author, and coach, Art Morrison III is teaching others the methods he used to become a millionaire by 30.
Growing up, Art had always dreamed of playing professional basketball. A difficult childhood, marked by frequent moves throughout high school, and a handful of injuries made this dream seem almost impossible. Nevertheless, Art landed a scholarship with a division 2 school to play collegiate basketball. His lack of credits due to frequent school transfers and yet another injury didn't make his next four years any easier, but still, he prevailed, nearly blinded by his determination to make it to the professional level. He even went so far as to pose as his own agent, writing to over 3,000 professional teams. His relentless pursuit paid off and he landed a position with a professional team overseas.
Art enjoyed a few successful years playing professionally but eventually the volatile nature of the sport, and the lack of stability and income began to wear on him. Determined to provide a better future for himself and his family, Art decided to end his basketball career and started his first business. AboveMAX Basketball was the culmination of all of Art's basketball knowledge and years of experience. From after school programs to camps and clinics, Art built this youth basketball training organization single-handedly, from the ground up. Although there were some lean years, he was proud to have built and scaled the entire business on his own. It wasn't long before he began to get inquiries about his success, as others sought to understand the methods he'd used to build a business that generated over 100K a year. He began to teach his methods to others through 1-1 business coaching. In these sessions, he taught students the ins and outs of starting a business. The success was immediate and Art realized he could translate his business knowledge into nearly any industry and see similar results.
Shortly thereafter, Art embarked on his first real estate venture. Over the next two years, Art did over 2 million in transactions, buying, flipping, and renting homes and began to teach others the power of group economics. Just a month after his 30th birthday, Art reached millionaire status.
Today, Art is dedicated to equipping others with the same tools and principles that transformed his life.
"My road to success is duplicatable by anyone," Art explains, "I didn't get here through some fancy invention or by acquiring millions in venture capital. It came down to perseverance and a few specific strategies."
Art shares his top three methods that any millennial looking to expand their mindset, build wealth, and achieve financial freedom can replicate.
#1 Invest in real estate early. "Today, real estate is one of the best investments you can make and the most ideal type of ‘debt' one can incur due to the low mortgage rates and appreciating collateral", Art explains. "You can even go in on a property with friends!" The FHA loan, also known as First Time Home Buyers loan, allows first-time buyers to put a 3.5% down, as opposed to the traditional 20% down payment.
Of course, as with any government loan, there are requirements. You must have a credit score of 630 or higher and have two years of employment (for recent college graduates, the last two years of college counts as employment). There are two options. You can get an FHA loan on your own, or you can share the loan and downpayment with a roommate (i.e. your new business partner). After you've been approved for the loan, Art recommends finding a property that has 3-4 apartments and needs relatively few repairs. From here, you can live in one unit and begin renting to tenants to start bringing in revenue immediately.
#2 Start a Small Business on the side. Begin building a brand and growing email list for your side business. Art is firm: "You don't need fancy tools or expensive software to start a business. In fact, you can do it all for around $100."
In many states creating an LLC is approximately $100. This is an excellent first step towards legitimizing your business and building the motivation to go out and make it work! However, if you don't have $100 to start, don't let this deter you. You can move forward to the next step regardless. Start by using apps like Canva to create a simple, yet recognizable logo.
Although you'll eventually want to create a website, this is not necessary when just starting out. Instead, create a free Mailchimp account and build a simple landing page that you can utilize to collect email leads.
Next, you're ready to start your social media strategy and generate email leads. Begin posting valuable content relevant to your industry all while driving traffic back to the landing page and inviting visitors to subscribe to join your mailing list (ideally you'll have a valuable incentive for subscribing.) Once you launch your business, you will already have a list of valuable potential customers to begin selling to.
#3 Be passionate, persistent, and consistent! Passion, persistence, and consistency are the keys to success. Once you find something you are passionate about literally nothing will stop you from achieving it except yourself. Many of us fail before we even get started because we either never find our passion or we allow outside forces to dictate our decisions.
"I am a 6' 6", 200 lb. man. From the outside, I look like a natural born basketball player. Let's say I was passionate about dancing and wanted to become a professional dancer. Being a natural basketball player, transitioning to dance is not going to happen overnight. I'd have to dedicate my time and energy towards it until it became a talent", states Art.
Although challenging at times, you can't skip persistence if you truly want to perfect your craft. This is where all of the obstacles lie; the embarrassment, the failures, the haters, the naysayers, and where 90% will give up. If you stay persistent long enough, eventually you will experience a breakthrough. You really want to be successful? Just be persistent.
These methods and many more surrounding the value of mindset are the foundation of Art's most recent e-book, Overcome, and newest business course, launching in early 2021. To partner with Art for 1-1 coaching or get on the list for the business course, visit https://morrisonenterprisellc.com/.
SOURCE: Art Morrison III
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