R1,46 Billion ($ 100 million ). Six of these properties are quite close to one another . Normally you would expect investors to buy properties for the protection of their wealth , but for Musk , it was for him and his family ’ s safety and convenience .
Under his name , Musk has several properties that are worth fortunes . His properties include a colonial mansion that is worth R326 million ($ 22.3 million ) which has a tennis court , five garages , and a swimming pool .
Elon Musk ’ s 5 rules for success :
1
MASTER INVESTOR
• A ranch house valued at R114 million ($ 7.8 million ).
• A six-bedroom house with eight bathrooms valued at R292 million ($ 20 million ).
• A four-bedroom property worth R72 million ($ 4.9 million ).
• A six-bedroom house made of geometric shapes that is valued at R399 million ($ 27.3 million ).
• A colonial house worth R61 million ($ 4.2 million ).
Work Like Hell
To start , be honest with yourself about what you want to achieve . This honesty includes being realistic about the amount of work it takes too . Put in the effort and work like hell ! The amount of time you invest in your work will help you improve the odds of success . If other people are putting in 40 hours of work per week and you are putting in 80 hours of work per week , you will have achieved in one year , what they may achieve in approximately two years . If you are starting a company , you ' ve got to be prepared for the hard work that comes with it .
8 MARCH 2021 SA Real Estate Investor Magazine
2
Have a High Pain Threshold
“ Starting a company is like eating glass and starring into the abyss .” That is generally what happens when you are starting a company . There is a lot of optimism , things start out great . Later you encounter all sorts of issues and happiness steadily declines . Following the decline in happiness , comes a whole new world of hurt . When starting out , you should be prepared for failure – at least initially .
3
Contribute to the
Progress of Society If someone is doing something that is useful to society then that ’ s a good thing . You do not have to change the world , but if you are doing something that adds high value to the large number of people in society then that is not only a beautiful thing , but one that can generate quite a bit of wealth too .
4
Take Risks
People tend to avoid risk on a personal level . Someone who has a mortgage to pay or financial support to give has different considerations for starting a business than that of a college graduate . If you are a college graduate and you have not worked long enough to fear the forfeiture of your assets , what do you have to lose ?
5
Have a Great Product / Service
You must make sure that whatever it is that you are offering , is of great quality . If you are entering anything where there is already an existing marketplace against lodged entrenched competitors , then your product and service needs to be much better than theirs . It cannot be slightly better because you are putting yourself in the shoes of the consumer .