How he became a super rich entrepreneur
Manny Khoshbin was only fourteen years old when he left Iran for the United States in 1985. What is Manny Khoshbin’s net worth? Let’s find out.
Unable to speak English and struggling to find his place in a whole new country, the future tech mogul knew he had to work to rise to the top.
From Kmart to real estate
In a profile Forbes, Khoshbin recalled his early experiences in California, where he recalled the many social and financial constraints his family faced.
Khoshbin recounted the early days in the United States, where he, along with his parents and three siblings, lived in a cramped station wagon until they could afford to rent their own accommodation.
While in high school, Khoshbin worked as a cart pusher at K-Mart, earning just $3.15 an hour.
Knowing he wanted to do more than work in a supermarket, Khoshbin began looking for opportunities on his own, eventually landing a job as a door-to-door salesman for a multi-level marketing company specializing in sweets and nuts.
He also spoke of the hardships he and his family faced as Iranians, explaining how he and his father skimped and saved while battling ongoing racial abuse.
His job as a salesman turned out to be a successful business; within two months he was the company’s highest-earning salesman.
At the age of 18, Khoshbin realized that his employer was charging him much more for products sold than the wholesale price at large supermarkets, such as Price Club (later called Costco).
After realizing this, he made the decision to rent a small office and sell nuts himself, competing with his old business.
Although the health department forced the business to shut down, Khoshbin had decided that he would pursue a future as an entrepreneur.
In 1991, a family friend – who happened to be a real estate broker – approached Khoshbin about the potential purchase of a mobile gas station with only 10% down payment.
Although it was also an unsuccessful business experiment, Khoshbin refused to give up hope – although he lost all of his savings.
Broke and unemployed, all signs pointed to Khoshbin being a financial failure.
However, he retained, obtaining a real estate license in 1992 and working as a loan officer at a mortgage company.
Six months later, he ventured out on his own and set up a mortgage and real estate company to invest in distressed properties under the control of the banks.
real estate success
Realizing he had to adapt to the digital age, Khoshbin sought to combine his real estate prowess with new technologies.
He devoted his time to researching the world of real estate, choosing a single-family home in Gardena, California as his first investment property.
Khoshbin spent a lot of time and effort repairing the house, renovating it with what little credence he had left in his name.
Two years after it went on sale, the home’s value skyrocketed to net over $100,000.
Khoshbin, delighted with the success, officially found his calling.
On the heels of his real estate triumph, Khoshbin focused on buying and renovating three more homes.
After seeing similar results with these new properties, Khoshbin expanded to work on apartment buildings before venturing into commercial real estate.
Although Khoshbin lives in California, many of his real estate properties are located throughout the state of Texas.
His process involves extensive research, creating alerts for the commercial properties he believes are the best fit for his business.
Manny Khoshbin has bought and sold over $450 million worth of commercial real estate through his own business, becoming one of the most admirable and successful entrepreneurs of his generation.
On Manny Khoshbin’s personal life and net worth
Khoshbin resides in California with his wife and two children.
His wife, Leyla Milani, is an Iranian-Canadian actress and model who appeared in Agree or disagree and The Oprah Winfrey Show.
With a net worth of around $80 million, it’s no surprise that Khoshbin has been able to invest in an extensive collection of luxury cars.
Her obsession with collecting is the biggest draw for her Instagram followers, who respect her dedication to specialized interest.
Overall, his car collection is worth over $25 million and includes three Bugattis, a Fill-Carbon McClaren P1, a Porsche 918 Spyder, two Mclaren SLR roadsters, three Rolls-Royces, a Lamborghini Aventador, among other vehicles. breathtaking.
Khoshbin likes to share his collection with fans and supporters via Youtube, often offering an intimate look at his process of restoring and maintaining these cars.
He also shared a Facebook post featuring images of his favorites, writing:
“My private jet […]I don’t care about the sky, I prefer to fly on the ground.
When storing cars in a custom garage in Irvina, Khoshbin said that insurance alone costs at least $100,000 a year:
“I have a blanket policy because I don’t drive all my cars all the time, and I think I’m paying close to $100,000 a year, which is very cheap.”
Books and tips for success
Along with being a real estate mogul and tech influencer, Khoshbin has released a how-to guide to becoming an entrepreneur.
In Driven: the roadmap without giving up towards massive success, Khoshbin dissects the steps he took to become one of the world’s richest and most sought-after businessmen, taking readers through personal highs and lows to offer an authentic look at the industry. .
In the book, Khoshbin teaches you to succeed on your own terms by challenging yourself and studying mistakes and failures.
Khoshbin also emphasizes the importance of passion in the field, emphasizing the need to be fully absorbed in the creative and financial side of every project.
There’s also a strong element of teamwork involved in working for yourself, proving that isolation isn’t the key to achieving the same level of success as people like Khoshbin.
At the end of Forbes profile, Khoshbin notes that adding value to your own work is the long-term goal of every project.