Have you ever wondered what it takes to achieve the American Dream? Manny Khoshbin life story is an inspiring example of someone who went from having almost nothing to reaching the top. If you’re an immigrant in the United States, facing challenges and chasing your dreams, Manny’s journey will inspire and motivate you.
Manny Khoshbin’s Inspiring Journey
Manny Khoshbin’s family came to the United States from Iran with big dreams and very little money. When they arrived, only Manny’s father could speak English, while the rest of the family struggled to communicate. Manny, in particular, faced a tough road. He spent three hours every day in English classes during his early high school years. Money was scarce, and they even had to live in their car for a while.
Manny’s father made a brave decision to leave Iran. He didn’t want to see his son face the same dangers and hardships that had befallen other family members during the war with Iraq. So, they packed their bags, got a visa, and set out for America, the land of opportunities.
Manny Khoshbin’s Humble Start in America
Starting their new life in the USA wasn’t easy. They didn’t have any friends, and they barely had enough money to get by. Their first “home” was a modest Motel 6 in Costa Mesa. But when they realized that they were running out of money, they made a tough choice and moved into their car, a 1972 Datsun Station Wagon. It wasn’t the most comfortable living situation, but it was a step towards their dreams.
For Manny, those early days were confusing and challenging. He couldn’t understand the language, and nobody understood him. It felt like he was on an entirely different planet. Most Americans had things he didn’t, and he had to start from the very bottom.
Despite these hurdles, Manny didn’t give up. He felt a sense of responsibility and turned his family’s sacrifices into motivation. He was determined to succeed, make his parents proud, and repay them for their sacrifices. It wasn’t an easy journey, and he faced numerous failures and obstacles along the way.
Manny Khoshbin’s story is a testament to resilience and determination. It’s proof that in America, dreams can come true if you’re willing to work hard and never give up. The American Dream wasn’t handed to him; he had to fight for it every step of the way.
So, if you’re pursuing your own American Dream, take inspiration from Manny Khoshbin’s story. It shows that with perseverance, hard work, and unwavering determination, you can achieve greatness, no matter where you start. Your dreams are within reach, and Manny Khoshbin’s journey is a shining example of that.
Manny Khoshbin’s College Adventure: A Clash of Ambitions
Manny Khoshbin’s inspiring journey doesn’t stop at his early days as an immigrant. His college experience sheds light on his determination to forge his path, even if it meant challenging traditional expectations. It’s a story that many young dreamers can relate to.
Manny attended the IBC in Irvine with high hopes, carrying his aspirations and dreams in a briefcase. He dressed professionally, ready to embark on a journey of success and wealth. But what he encountered there was a culture clash of epic proportions.
In college, Manny found himself in an environment where many students seemed more interested in playful activities like throwing paper and pens at each other than in pursuing their dreams. The contrast between his serious approach and their laid-back attitude was stark.
Just two weeks into college, Manny Khoshbin made a bold decision: he quit. He knew that the path he was on was not aligned with his ambitions. This choice, however, came at a cost. It strained his relationship with his deeply disappointed mother.
Charting a Unique Path
Manny’s journey is proof that following your passion and staying true to your ambitions can sometimes set you on a different path, one that may not be immediately clear to those around you. But it’s also a story that shows how such choices can impact family dynamics. It’s a lesson in pursuing your dreams while understanding and managing the emotions and expectations of loved ones.
In Manny Khoshbin’s life, the college chapter was a brief one, but it played a pivotal role in shaping his determination and unwavering commitment to success.
It’s a story that encourages young dreamers to believe in themselves, make choices that align with their ambitions, and navigate the challenges that come their way. Manny’s journey is a testament to the idea that success often requires charting your unique path.
First Entrepreneurial Lesson: Nuts, Success, and Unexpected Hurdles
In the early stages of his journey towards success, Manny Khoshbin ventured into the world of entrepreneurship with a unique business idea – selling nuts door to door. It was a bold step for a young and ambitious Manny, and it initially seemed to be a promising endeavour.
Manny’s nut-selling venture quickly gained traction, and he experienced the sweet taste of success. People loved his nuts, and he was making good money. It was a thrilling experience for a young entrepreneur, and it seemed like the start of something big.
However, just as Manny was riding high on his early success, an unexpected obstacle came his way in the form of the Health Department. They issued a fine and informed Manny that, according to regulations, he needed to have a helper present every time he repackaged food for resale. These rules were put in place to ensure food safety and compliance with health standards.
This regulation turned Manny’s world upside down. He realized that his business couldn’t continue under these circumstances. With a heavy heart, Manny Khoshbin decided to close down his nut-selling operation. It was a challenging and unexpected turn of events that marked the end of his first entrepreneurial venture.
This episode in Manny’s life is a reminder that the path to success is often paved with hurdles and unexpected turns. It’s a testament to his resilience and determination to overcome obstacles, even when it means making difficult decisions.
Manny Khoshbin’s journey is a story of perseverance and the unwavering pursuit of his dreams, no matter the challenges that come his way.
It’s a story that inspires us to keep pushing forward, learning from our mistakes, and never giving up on our entrepreneurial ambitions.
Manny Khoshbin’s Entrepreneurial Odyssey: Lessons in Resilience and Adaptability
It all began with an enticing opportunity – the chance to invest in a Mobile gas station for just $20,000 with 90% financing. Manny saw the potential for a bright future. But fate took a cruel twist when the loan officer he entrusted his money to turned out to be a con artist. This significant financial loss was a “hard landing” for Manny, as he essentially had to start from scratch.
Manny returned to working at Winston Tires, once again employed by someone else. But he never lost sight of his entrepreneurial dreams. As he saved money for his next venture, he noticed a fascinating pattern. Many customers who drove high-end vehicles like Porsches and Ferraris were involved in the mortgage and real estate industries.
To pursue this newfound interest, Manny obtained a real estate license and worked as a loan officer at a mortgage company for a brief period. It was a crucial learning experience, providing him with valuable insights into the industry.
In 1993, at the young age of 22, Manny took a bold step and established his own mortgage company. In the very first year, he earned an impressive $290,000, a testament to his unwavering determination and commitment.
Pivoting from Real Estate to Retail
However, success in the real estate and mortgage industry was not without its challenges. Manny faced a downturn in his business due to rising interest rates, which led to the closure of many mortgage loans. It’s a vivid reminder of the volatility of the mortgage industry and how macroeconomic factors can impact businesses.
Undaunted, Manny Khoshbin’s entrepreneurial spirit led him to a new opportunity – the discount store sector. He opened a 10,000-square-foot store called “79 Cents Plus” in Santa Ana, initially reaping substantial profits.
But the road to success is never smooth. An attempt to expand by opening a second store didn’t go as planned. Fierce competition from nearby stores, especially Food 4 Less, led to a decline in cash flow and financial difficulties, marking his second entrepreneurial failure.
Manny Khoshbin’s Tough Choices and Resilience
In the face of mounting debts and high-interest credit card payments, Manny Khoshbin faced tough decisions. He understood the importance of maintaining good credit and resisted the idea of bankruptcy. He made challenging choices, including letting go of employees and seeking help from his parents to run the business.
Manny Khoshbin’s journey is a testament to resilience, adaptability, and an unwavering belief in the entrepreneurial spirit. It’s a story of learning from failures, facing adversity, and emerging stronger.
Through the ups and downs, he demonstrated that true entrepreneurs don’t give up; they persevere, learn, and come back stronger. Manny Khoshbin’s journey is a beacon of hope for all aspiring entrepreneurs, a reminder that success often follows the most challenging of paths.
From Adversity to Success
Manny Khoshbin’s life journey is a remarkable testament to resilience, adaptability, and an unquenchable thirst for success. He not only faced adversity head-on but also learned valuable lessons that have paved the way for his remarkable achievements.
Let’s dive into the pivotal moments and insights that have shaped his extraordinary story.
Turning Setbacks into Success
After encountering financial hardships and failures, Manny Khoshbin didn’t give up. Instead, he turned things around. He sold his business for $185,000 and transitioned to stock trading, quickly amassing $700,000 in his account. This turnaround demonstrated his determination and ability to adapt to new opportunities.
The Diversification into Real Estate
With a substantial capital base, Manny Khoshbin strategically diversified his investments. He ventured into real estate, purchasing a shopping center and two REO homes. This marked the beginning of a successful real estate career.
His journey reflects the power of learning from experiences and not letting initial setbacks define one’s path.
Key Principles for Growth
Manny Khoshbin’s journey offers valuable advice and insights for personal and professional growth:
1. Curiosity and Continuous Learning
He emphasizes the importance of staying curious and maintaining a thirst for knowledge. Being open to learning from various sources and staying informed about trends and developments is essential.
2. Surrounding Yourself with Success
Manny recommends surrounding oneself with individuals who have achieved what you aspire to accomplish. Learning from successful mentors can provide inspiration and valuable insights.
3. Sales Experience
Manny underlines the significance of taking a sales position in any field. Sales roles teach valuable communication and persuasion skills, which apply to various aspects of life.
These principles aren’t just relevant to entrepreneurial journeys but are also keys to success in various aspects of life.
The Immigrant Experience
Manny Khoshbin reflects on the impact of being an immigrant on his early experiences and drive for success. He highlights the intense motivation and drive that often accompany the immigrant experience. Starting with very little, facing unfamiliar environments, and the drive to prove oneself fuel this ambition.
For immigrants, the feeling of being “Hungry” is a powerful motivator. The loss of familiar things, like freedom, resources, and language skills, can lead to a strong impetus to succeed.
Manny Khoshbin’s journey is a remarkable illustration of the American Dream, demonstrating that with determination, adaptability, and the right principles, anyone can overcome adversity and achieve success.
Manny Khoshbin’s Inspiring Message
Khoshbin’s journey isn’t just about personal success; it’s a powerful message for everyone, immigrant or not. He encourages us to embrace change and challenges, rise above discrimination, and never let setbacks deter us from our goals.
Challenges and Discrimination: Not Exclusive to Immigrants
Manny Khoshbin makes it clear that challenges and discrimination are not exclusive to immigrants. He urges all of us to seek new opportunities, explore different states within the United States, and continually challenge ourselves. Stagnation is the enemy of progress, and taking risks is a crucial part of personal and professional growth.
Overcoming Discrimination
Manny Khoshbin openly shares his own experiences with discrimination, particularly related to his Middle Eastern background. He recalls being called derogatory names while working at Kmart at the age of 16 and encountering significant discrimination, especially towards individuals of Middle Eastern descent. Back then, discrimination levels were high, making the journey challenging for people like him.
He recounts a specific incident when a General Manager at a Toyota dealership verbally abused him in front of everyone while he was selling nuts. Despite the humiliation, Manny chose to persevere, demonstrating resilience and determination.
This story exemplifies the importance of not letting discrimination or setbacks deter us from our goals and the need to keep pushing forward.
Turning Challenges into Motivation
Manny Khoshbin shares how he used the challenges, discrimination, and negativity he faced as motivation to achieve success. He acknowledges that life presents challenges, and people may try to create challenges for us. However, we have a choice in how we respond: accept defeat or use those challenges as motivation to prove doubters and haters wrong.
In Manny’s case, he turned his doubters into followers, demonstrating his unwavering determination to overcome adversity and succeed.
Developing a Vision and Setting Ambitious Goals
Manny Khoshbin reveals that his early concept of success was influenced by the people he observed around him.
Manny’s message is clear: we all have the power to overcome discrimination, use challenges as motivation, and set ambitious goals. His journey serves as a beacon of hope and inspiration for everyone, regardless of their background or the challenges they encounter.
The Evolution of Dreams: Manny Khoshbin’s Path to Success
Manny Khoshbin’s journey teaches us that dreams are not static; they evolve and expand as we grow. His story is a powerful reminder that success is a journey, not a destination. As he embarked on his path, success for him initially meant owning a convertible Mercedes. But his vision of success expanded, and his journey has been a testament to the evolution of dreams.
From Mercedes Convertibles to Bugatti’s
While working at Winston Tire, Manny was surrounded by successful individuals driving luxurious cars, such as Mercedes convertibles and Porsches. At that point, owning a convertible Mercedes was his vision of success, and he worked hard to achieve it. He made that dream a reality.
But Manny’s journey didn’t stop there. His exposure to higher levels of success and luxury, particularly through his network of high-caliber friends, expanded his horizons. He was introduced to the world of Bugatti cars, which are not just vehicles but technological marvels and fine works of art. This exposure ignited his passion for cars, recognizing them as symbols of success and luxury.
The Power of Evolving Dreams
Manny Khoshbin’s story emphasizes a crucial lesson: our dreams can evolve, and that’s a sign of growth. As we achieve our initial goals, new aspirations emerge. It’s a testament to the human spirit’s constant thirst for improvement and the ability to set new targets.
Manny Khoshbin’s Path to the American Dream
Manny Khoshbin’s journey is a shining example of the American Dream, and he defines it as the freedom to wake up in the morning and decide to take a two-month journey anywhere in the world without financial worries. His story encapsulates the essence of financial security and the ability to enjoy life without being constrained by financial limitations.
The Continued Existence of the American Dream
Manny Khoshbin strongly believes in the continued existence of the American Dream. He emphasizes that anyone with drive, patience, and a relentless mentality can achieve it. While the path may not always be straightforward, with obstacles and dead ends along the way, the key is to remain determined and adaptable, willing to find alternative routes to success.
Manny’s Pursuit of the American Dream
When asked if he has achieved the American Dream, Manny Khoshbin expresses a sense of accomplishment but also acknowledges the tendency to keep hustling and accumulating wealth without pausing to fully enjoy the fruits of his labor.
This suggests that while he has achieved considerable success, he may still be striving for even greater accomplishments.
Manny’s journey portrays the American Dream as a vision of financial freedom and the ability to live life on one’s terms. He believes it is attainable with the right attributes and mentality, and he sees his journey as a step toward realizing that dream, even if he acknowledges the ongoing pursuit of further success.
The First Million-Dollar Milestone
Manny Khoshbin’s first million dollars were made in real estate, and it marked a pivotal point in his journey. In the year 2000, at the age of 30, he achieved this milestone through a commercial property investment. He was able to qualify for an SBA loan for a commercial property due to his ownership of a store.
With just a 10% down payment, which amounted to $67,000 out of pocket, he purchased a vacant building in Santa Ana. After acquiring the property, he remodelled it and managed to sell it for $1.6 million in less than a year. This successful flip marked Manny Khoshbin’s first million-dollar gain in real estate.
From One Million to Over a Hundred Million
Manny Khoshbin used the proceeds from this initial success to his advantage and began making offers on apartment buildings in Long Beach, typically with six or more units. By offering competitive prices and being able to close quickly without contingencies, he negotiated favourable deals. This strategy allowed him to acquire numerous apartment units, totaling around 300 units.
His real estate journey continued to flourish, experiencing substantial growth in his portfolio. By 2007, he had expanded his real estate holdings from that initial one million dollars to over 100 million dollars.
Manny Khoshbin’s journey from making his first million dollars to scaling up his real estate portfolio demonstrates the power of strategic investment and calculated risk-taking in achieving the American Dream.
His story is a testament to the idea that with determination, financial acumen, and a relentless pursuit of success, anyone can achieve their dreams and even surpass them.
Manny Khoshbin’s Real Estate Insights
Manny Khoshbin’s wealth of insights and experiences in the realm of real estate provide a valuable guide for aspiring investors. His journey underscores the significance of technology, networking, and timing in achieving financial success in this sector.
The Power of Technology in Real Estate
Manny Khoshbin emphasizes how technology has revolutionized the real estate landscape. Unlike 30 years ago, when physical visits and in-person meetings were essential, today’s investors can leverage online platforms and listing services to conduct extensive research on properties. This accessibility empowers prospective investors to identify opportunities with greater ease.
The Strength of Networking and Collaboration
Networking and collaboration are essential strategies in the real estate world, according to Manny Khoshbin. Collaborating with individuals who have financial resources, especially when targeting distressed properties or value-added opportunities, can be a game-changer. By teaming up with equity partners, investors can secure the necessary funding to acquire and improve properties, with profits shared through profit-sharing or split arrangements.
Achieving a Million Dollars in Real Estate
Manny Khoshbin’s key message is clear: making a million dollars in real estate is not only achievable but a process that requires time, effort, market understanding, and the development of connections with equity partners. He dispels the notion that it’s impossible, asserting that success is attainable through diligence and perseverance.
The Role of Timing and Strategic Decision-Making
Manny Khoshbin attributes his real estate success to a combination of factors, including timing and strategic decision-making. He recognizes the element of luck, as his journey coincided with a particularly advantageous period in the market, similar to favorable conditions in recent years. Scaling his portfolio through property flipping and reinvesting allowed him to continually expand his real estate holdings.
Adapting to Market Conditions and Reducing Risk
A pivotal moment in Manny Khoshbin’s journey was when he realized the market conditions were becoming overheated in 2007, with high demand and multiple offers for his properties. This led him to sell his real estate portfolio and conduct a 1031 exchange. He shifted his investments into shopping centers anchored by grocery stores and industrial properties.
This strategic shift was motivated by his understanding of market cycles and the desire to reduce risk. Focusing on tenants with strong financials allowed him to weather economic downturns effectively.
Manny Khoshbin’s story underscores the importance of timing, adaptability, and risk management in real estate investment. Recognizing when market conditions are favorable and making strategic shifts can protect investments and lead to long-term success.
His success and insights serve as a valuable source of inspiration and guidance for anyone looking to venture into the world of real estate.
Patience and Persistence in Real Estate
Manny Khoshbin underscores the importance of patience and persistence in the real estate market. He likens it to swinging many bats, emphasizing that numerous attempts are necessary to achieve success.
Real estate often involves waiting for the right market cycles, and he identifies the current market as being in a down cycle, partly due to the Federal Reserve’s decision to increase interest rates.
Manny Khoshbin believes that the next 18 months present a significant opportunity for those who are financially prepared and mentally empowered to make remarkable returns in real estate.
Seizing Contrarian Opportunities
Manny Khoshbin highlights the principle of seizing contrarian opportunities by taking advantage of fear and panic. He offers examples from other markets, such as cars and stocks, where contrarian thinking has led to significant profits.
During lockdowns, some cars were sold at deep discounts, and during the stock market downturn in March 2020, those who bought in a contrarian fashion profited significantly. Manny Khoshbin emphasizes that while contrarian moves can be challenging, they can lead to success and increased confidence.
The Dynamics of Real Estate Portfolio
Manny Khoshbin shares insights into his real estate portfolio, discussing both his biggest wins and losses. His biggest loss was a $5 million hit when a single-tenant building, a subsidiary of Boeing, vacated his property. On the other hand, he is currently working on a potential $50 million deal, indicating his ability to recover and capitalize on new opportunities.
Managing a Diverse Portfolio
Manny Khoshbin reveals that he is involved in around 18 different businesses or companies. While he actively manages six of them, he also invests as a silent partner in various others. His income is derived from both his businesses and real estate investments, with cash flow generated from non-vacant properties.
This array of insights showcases Manny Khoshbin’s astute approach to real estate investment, his aptitude for identifying contrarian opportunities, and his capability to manage a diverse portfolio of businesses and properties. His journey serves as a valuable source of wisdom for aspiring entrepreneurs and investors.
Manny Khoshbin: Balancing Lifestyle and Finances
Manny Khoshbin’s approach to life and finances is a reflection of his unique perspective. Here’s an overview of his disciplined routine, spending habits, and approach to luxury:
Disciplined Daily Routine
To manage his diverse portfolio of businesses and properties, Manny Khoshbin adheres to a disciplined daily routine. He begins his day early, addressing emails related to properties spanning multiple states.
Prioritizing tasks, engaging in physical fitness, attending meetings, and taking breaks in the afternoon, often with a cigar, enables him to prepare for the challenges of the next day. This routine reflects the demands of overseeing a broad range of enterprises and real estate assets.
Balancing Spending Habits
Manny Khoshbin’s spending habits reflect a sense of balance. While he is frugal in certain aspects and doesn’t see value in extravagant expenses such as high-end watches or incredibly expensive bottles of wine, he appreciates finer tastes in specific areas, like enjoying a fine bottle of cognac.
Splurging on Memorable Experiences
Manny Khoshbin doesn’t hold back when it comes to special occasions and creating memorable experiences. He is willing to allocate resources to indulge in items like jewelry, handbags, and lavish vacations. A notable example is treating his family to a villa vacation in Lake Como, emphasizing his preference to splurge on experiences that create cherished memories.
Investing in Time and Memories
Manny Khoshbin recognizes the value of time as a non-renewable resource. He stresses the importance of using time to create precious memories with loved ones, considering it one of the best investments.
His approach to vacations and travel reflects this perspective, where he is willing to allocate substantial resources to make the most of his time with family and loved ones.
Appreciating Luxury Vehicles
Manny Khoshbin owns several luxurious vehicles, including four Rolls-Royces, two drop heads, and a brand new Ghost he bought for his wife. While driving such high-end cars has become a normal part of his life, he recounts the experience of getting his first Rolls-Royce, a Phantom, in 2004.
Interestingly, even when the lease payment was higher than their mortgage payment, he intentionally negotiated for the highest lease payment to reduce the residual value, ultimately lowering payments in the fifth year when he planned to purchase the car. This forward-thinking approach allowed him to enjoy luxury while maintaining financial prudence.
Manny Khoshbin’s approach to lifestyle and finances showcases a balance between frugality and indulgence, a deep appreciation for creating memories, and a strategic approach to luxury car ownership. His unique perspective offers insights into how one can achieve financial success while enjoying the finer things in life.
A Regret That Shaped a Life
Manny Khoshbin, a self-made millionaire, shared a poignant and life-altering moment from his past when asked about any regrets related to working too hard. In doing so, he revealed a pivotal event that profoundly shaped his life and values.
He recounted a time in his younger, more reckless years when he decided to take a break from his relentless pursuit of financial success. He stopped focusing on making money, embraced a carefree single lifestyle, and often indulged in parties and recklessness. It was during one of these carefree moments that a fateful incident occurred.
Manny Khoshbin described the night vividly. He was driving, admittedly a little drunk, with a friend in the car. Suddenly, the car spun out of control, resulting in a harrowing accident. Tragically, his friend was not wearing a seatbelt and was ejected from the vehicle. The outcome was devastating – his friend did not survive.
Dark and Regrettable Period
Manny Khoshbin openly acknowledged that this incident marked an exceptionally dark and regrettable period in his life. His biggest regret, he revealed, was being irresponsible and making reckless choices, a phase that many young people experience. It was a moment that starkly demonstrated the profound and lasting consequences of poor decisions and carelessness.
This life-altering experience transformed Manny Khoshbin, serving as a potent reminder of the importance of responsibility and mindful decision-making. It’s a lesson he carries with him, a reminder that the pursuit of financial success should not come at the cost of personal well-being, safety, or the well-being of others.
Manny Khoshbin’s Evolving Outlook on Life and Success
Manny Khoshbin’s perspective on life and success has undergone a significant transformation over the years, reflecting his growth as an individual and a successful entrepreneur. He has shifted his priorities and redefined what truly matters to him.
In the past, Manny Khoshbin was known for his relentless work ethic and dedication to achieving financial success. He openly acknowledges that he used to work excessively, often prioritizing work over personal life. However, a pivotal change has occurred in his life, primarily driven by his role as a parent.
Spending Quality Time with Family
Manny Khoshbin now places immense value on spending time with his children. He revealed that his perspective on work has shifted to the extent that he no longer works on weekends, even if offered a substantial sum of money for seminars or other engagements. He recognizes the irreplaceable importance of quality time with his kids.
This transformation in his approach to work underscores the profound impact of parenthood and personal relationships on one’s perspective. Manny Khoshbin’s priorities now center around his family and ensuring that he’s present in their lives, cherishing the moments they share.
Manny Khoshbin’s Definition of Success
When asked about his definition of success, Manny Khoshbin offers a nuanced and mature perspective. He sees success not merely in financial terms or net worth but as having the freedom to choose how he spends his time and the ability to give back. To him, success means having the liberty to wake up and decide how he wants to live his day and, at the same time, being in a position to make a positive impact on the lives of others.
Manny Khoshbin’s journey highlights the evolving nature of success and the importance of finding a balance between personal and professional life. His experience is a testament to the idea that true success extends beyond financial achievements and encompasses the freedom to lead life on one’s own terms while making a difference in the lives of others. It’s a perspective that resonates with those who aspire to achieve holistic and meaningful success.
Credits: Inspired by Manny Khoshbin’s interview with Noah Kagan.
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