As Calvin Coolidge once said, the business of America is business.
If there is one thing that’s separated America from the rest of the world is its pro-entrepreneurial culture.
This was on full display in the immediate decades that followed the Civil War. Americans were ready to move on from this violent internal struggle and show the rest of the world what they were made of.
Taking advantage of America’s strong protection of property rights and pro-business culture, various entrepreneurs stepped up to the plate to demonstrate their business chops.
Cornelius Vanderbilt (1794-1877): Cornelius Vanderbilt was the first of the so-called “Robber Barons”. He made his fortune in railroads and shipping.
Vanderbilt started a passenger ferry business in New York harbor with only one boat. He moved on to bigger endeavors by starting a steamship company, which eventually led him to dominating Hudson River traffic. In addition, he set up the first rail service that connected New York with Chicago.
At the time of his death in 1877, Cornelius Vanderbilt amassed a fortune of $2.5 billion (in 2020 dollars). Vanderbilt became one of the most prominent business leaders in American history and helped finance the creation of Vanderbilt University, one of America’s premier institutions of higher learning.
Andrew Carnegie (1835-1919) Andrew Carnegie was born in Scotland and emigrated to the United States with his parents during his pre-teen years. Carnegie cut his teeth as a telegrapher and began investing in bridges, oil derricks, and railroads.
He later grew his wealth as a bond salesman, where he raised money for American businesses in Europe. During his time building his wealth, Carnegie always had his eyes on building his own business. In 1892, he founded Carnegie Steel Company, which was later merged with the Federal Steel Company and the National Steel Company to form the United States Steel Corporation in 1901.
Once the sale of Carnegie Steel was complete, Carnegie leapfrogged John D. Rockefeller as the richest American at the time. Carnegie amassed a total fortune of $11.8 billion in 2020 dollars.
Carnegie spent the rest of his life participating in philanthropic ventures. Some of his notable projects were the construction of Carnegie Hall in New York, Carnegie Endowment for International Peace, and Carnegie Mellon University, among other philanthropic ventures.
John D. Rockefeller (1839-1937): John D. Rockefeller set up his first oil refinery close to Cleveland and incorporated the Standard Oil Company in 1870. By 1882, Rockefeller had virtual monopoly control of the oil sector in the U.S. His business prowess caught the attention of Washington, D.C., which feared his business endeavors were consolidating too much power.
Eventually, the US Congress passed the Sherman Antitrust Act in 1890, and in 1892 the Ohio Supreme Court declared that Standard Oil was a monopoly. These moves and subsequent antitrust actions prompted Standard Oil’s dissolution in 1911.
As he grew older, Rockefeller focused more on philanthropy. His funding proved critical in the founding of the University of Chicago (1892). Rockefeller also contributed in founding the Rockefeller Institute for Medical Research and the Rockefeller Foundation. Rockefeller’s fortune was estimated to be at $418 billion in 2020 dollars.
Although these three business giants engaged in questionable business practices, their greatness could never be denied. They were part of a new entrepreneurial class that took America from an agricultural society to an industrial power in a matter of decades.
You can thank America’s system of federalism and limited government for allowing for entrepreneurs to thrive and build businesses that capture the imagination of millions worldwide.
While America has largely deviated from this model by embracing more state involvement in the economy, it still remains a relatively free nation. Plus, its entrepreneurial culture remains strong.
When it comes to making money from real estate, no countries come close to the US.
Its system of property rights and transparent records for property transactions are unmatched.
So take advantage of these privileges that most folks worldwide would die for.
At the Empowered Investor Pro, we teach people how to maximize these unfair advantages that Americans enjoy. You can do so by tapping into investment properties as a way to build cash flows.
Sure, there are real estate naysayers out there.
They’ll criticize real estate for being volatile. And they do have a point….to a degree.
You see, most people’s misgivings with regards to real estate have to do with cyclical markets.
These are the volatile markets found in Los Angeles, New York City, and San Francisco.
These are no-nos for the income property investor looking for consistent cash flows.
We’re all about investing in steady, linear markets. These are the less sexy markets that provide consistent cash flows. These markets tend to be found in red states, which also tend to be more pro-landlord.
I go into great detail about this at the Empowered investor Pro.
This is a community of proven real estate investors who’ve been there and done it. These people will guide you along your journey to real estate investing success.
On top of that, you’ll hear about my clients’ success stories and learn how they manage their properties.
One of the most important things you’ll learn from the Empowered Investor Pro is the art of self-management.
You see, dealing with property managers is a harsh reality of real estate investing.
They come in all shapes and sizes when it comes to quality. Some are reliable, while others are just flat out lousy.
It’s honestly a roll of the dice when dealing with property managers.
That’s why I tell people to ditch their property managers.
No joke.
With the Empowered Investor Pro, you’ll be able to develop a system of self-management that will save you thousands of dollars and the overall headache of having to deal with sub-par property managers.
The Empowered Investor Pro is for those who want to learn from the best income property investors in the game and expedite our journey to financial autonomy.
To maximize your return on life, sign up for the Empowered Investor Pro today!
CLICK HERE and Join the Empowered Investor Pro Today!
