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Why “It Doesn’t Take Money To Make Money”, According To Social Media Star Ken Mack

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Ken Mack on site at a multimillion dollar LED manufacturing company which he acquired in Brazil

“It takes money to make money” – fact or fiction? We put the question to investor Ken Mack, and he tells us that this phrase is “total rubbish!”. Ken, who comes from humble beginnings, was born in the UK, in the country of Scotland. He now resides in multiple locations around the world, and is currently based in Dubai. The self made millionaire tells us how he started his journey 16 years ago. As he had no money to start with, he needed to find a creative way to create wealth without using any of his own money, simply because he didn’t have any. His quest for wealth led him to discover a strategy known as a leveraged buyout. 

A leveraged buyout is a strategy in which you can buy an existing successful business using other people’s money. One such example of a leveraged buyout is utilizing “seller finance” or “deferred consideration” to buy a profitable business. This is where you can agree a price to buy a business from the business owner and rather than paying up front, you can pay the seller over a set period of time by using the cash flow which the business generates. This effectively allows you to buy businesses without using any of your own money. This is the exact strategy that Mack used to create his wealth. 

Ken tells us “it doesn’t take money to buy a business, it takes strategy. Similarly it doesn’t take money to buy real estate, it takes strategy. For example, in Spain you can get a 113% mortgage which means that they [the bank] will pay you to borrow money. And again no deposit is required and the bank will even pay your buying fees.” Ken went on to give us several other strategies for wealth creation such as “rent to rent”. 

We asked Ken if having a mentor is essential for creating wealth. He told us that he cannot say it is essential as he did not have a mentor himself, when he started. However, “the kind of person who says that it takes money to make money, typically has a victim type mentality and they are the ones who could benefit from a mentor the most. Having a mentor will expedite your success and send you light years ahead”, according to Mack. 

Ken Mack now dedicates his time to coaching others to create wealth and he is aggressively working towards becoming “the greatest generational wealth coach of all time”. He tells us that he hopes to achieve this by sharing his real life experiences with normal people who can benefit from them and he believes that anyone can create generational wealth, just like him. As far as the phrase “It takes money to make money” goes, Ken leaves us in no doubt that in his opinion, this is most definitely not the case!

Also Read: Ken Mack & Coach JV Are Causing A Storm in Dubai, Following Meet Up with Fans

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