1ST GENERATION RICH

A self-made millionaire aims to help others become rich in this debut guide.

Migliaccio’s book speaks to frustrated working stiffs who are longing for more freedom and greater wealth. Drawing heavily on his own compelling story of success as a real estate investor and entrepreneur, he hopes “to show that there are many more options to the daily grind and working in a job you dislike.” Higher education isn’t the only path to a solid career, he argues; embracing a can-do spirit, knowing when to seize an opportunity, and being persistent are just as important. The author himself was a mediocre student who struggled in special ed classes. College wasn’t on the table after high school, but after getting to know a friend’s immigrant father who’d built a thriving small business, Migliaccio realized he could take charge of his own future. A small delivery business and a side gig restoring old Volkswagen Beetles eventually blossomed into multiple real estate investments in Albuquerque, New Mexico, giving the author the freedom and financial stability he longed for. Much of his sensible advice (for example, save aggressively, take risks without being reckless, and don’t neglect due diligence) is naturally geared to novice real estate investors. But he embraces an “up by your bootstraps” mindset that occasionally glosses over more complicated realities some readers might face, such as the challenges of investing in a high-priced housing market or saving substantial amounts of money while working for minimum wage. He simply urges those who feel they don’t have enough to save to “do whatever it takes. Be extreme.” Yet Migliaccio’s positive attitude and personal tale of triumph are still stirring. “The magic formula is to just get started,” he writes, and his enthusiasm will doubtless motivate more than a few hesitant would-be business owners to try to turn ideas into reality, especially those who find more conventional career paths lackluster. “Great ideas and hard work can give you whatever you want in life,” he writes. “Look beyond what” everyone else “is doing and find a path that leads to your greatness.”

This inspiring account of building a real estate empire offers useful, if streamlined, investment advice.