It is easy to look at someone born to a rich family and blame your misfortunes on your humble upbringing. But today we have a story for you, which will prove to you that anyone can achieve great success, even a young immigrant without any money, education, or even the knowledge of the language.
Starting from the rock bottom
Manny Khoshbin’s incredible journey, one characterized by strength, determination, and the embodiment of the American dream, began in the very difficult period in Iran marked by its war with Iraq. The challenges and hardships of the time, especially the threat of Manny’s conscription into the army at the young age of 14, led his father to make an important decision for the family’s safety: they would move to the United States.
Upon their arrival in America, the reality of their new life was tough. Having encountered language barriers, as they didn’t speak English, and dealing with serious financial problems, the Khoshbin family was forced to adapt quickly. Manny had to attend ESL classes the first two years of school, just so that he could understand those around him. The family found themselves living out of a 1972 Datsun station wagon. This vehicle, meant for transportation, became their temporary home, shared among six family members.
Manny’s journey to success
Yet, even against this backdrop of adversity, Manny’s drive for success remained unwavering. While his parents had hopes of him pursuing higher education, Manny’s time at college lasted only two weeks before he recognized that the traditional academic route wasn incompatible with his vision of success. This realization steered him towards the challenging world of business.
Manny’s first steps
At the beginning, he tried to sell nuts from one house to another. At first, it looked good. But he had to stop because of some rules. Apparently, young Manny didn’t realize you can’t just sell food to people without any health checks.
First setbacks on the path to success
Manny then used $20,000 of his savings for a gas station venture in partnership with a friend. But all hope disappeared when this business revealed itself as a scam, leading to the loss of his entire investment. Being from an immigrant family, during the war between the US and Iraq, Manny also suffered from discrimination and prejudice.
Exploring different markets
Manny didn’t give up after problems. He started working in the home loan business. He did very well there and earned $290,000 in his first year when he was just 22. Manny then opened a store called 79 Cents Plus. It did good at first, but later faced challenges from other stores. Manny still wanted to learn and succeed. He tried stock trading and smartly made $700,000.
First encounter with real estate
However, the world of real estate was where Manny’s star would shine the brightest. Starting with the purchase of a shopping center and two REO homes, he slowly built his empire. With time and patience, he closed deals worth nine figures. His biggest achievement was a huge profit of $50 million from a single property deal.
What Manny’s story can teach us
Throughout his journey, Manny’s background as an immigrant both shaped and fueled his path. He faced many obstacles, like learning the English language, poverty and discrimination. Rather than allowing these challenges to slow down his progress, he used them as stepping stones, converting every negative experience into motivation. Manny’s success, he believes, was not just a result of his passion but also his curiosity. Always wanting new knowledge, he consistently turned to various resources, to be informed and ahead of industry trends.
Today, with a net worth of $250 million, a real estate portfolio that stands as a testament to his mastership in the industry, a large collection of some of the rarest cars in the world, and a huge social media following, Manny Khoshbin is an inspiration to many. His story, from living inside a station wagon to the peak of real estate success, serves as a good reminder of the many opportunities that await those who try their best, learn, and adapt, regardless of their starting point.
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