It wasn’t long ago that “moonlighting”—working a second job in addition to regular employment—was frowned upon by corporations who expected employees to devote themselves completely to the company. But pressures of lower wages combined with higher costs of living have largely made those expectations unrealistic. Additionally, rapid technological advances have made it easier for employees to work fulltime while pursuing other income streams.
These developments explain why H.J. Chammas’ The Employee Millionaire is not a conundrum. Rather, it’s a validation that smart goal-setting combined with “can-do” motivation can build real wealth, leading to that moment when moonlighters make that final leap to leave their day jobs and concentrate totally on investing or, if they desire, retire completely from both jobs.
Chammas lays that foundation with excellent content that includes the financial ‘ins and outs’ of acquiring rental properties (e.g. strategies for dealing with banks, analyzing rental property opportunities, managing properties). He also provides a thoughtful approach for analyzing less tangible considerations, such as identifying limiting beliefs, balancing lifestyle desires and pressures and managing the moving target of personal motivation.
Readers who find it difficult to slog through financial discussions full of equations will get some relief in the author’s conversational tone and informational anecdotes. Chammas offers helpful “real-life” examples, such as analyzing the financial profile of Joe Public (married millennial with two children) to determine how many properties Joe can afford to rent. Readers will appreciate Chammas’ suggestion for building a team to support their real estate ventures (instead of going it alone).
Those who have suffered some real estate investment disasters may argue that few employees have the mental makeup to survive, much less relish, working both jobs. Nevertheless, The Employee Millionaire will appeal to a broad swath of readers who appreciate this intelligent message of hope couched in helpful advice that they can leverage—even if they never choose to make the leap to rental property investor.
Also available as an ebook.