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Sanchez owns Contrarian Capital, a portfolio of businesses thatmake millions.
Here are hertop tips for building wealth.
Money is a powerful tool in todays world, she said.
Money is a weapon, and either youre armed or somebody else is, Sanchez said in the video.
We should actually obsess over money in some way, shape or form.
Sanchez noted that owning cash-flowing assets, like businesses, is the reason that the rich keep getting richer.
We are seeing the really rich get richer and the rest get left behind.
The way we push back on that is we own assets that they cannot inflate away.
You basically need three things, she said.
Leverage means as often as possible, you could use other peoples money not yours.
Velocity of capital means, how quickly do you get the money back after you have put it in?
Has a business succeeded for the last 20 years?
Its actually more likely to succeed for the next 20, Sanchez continued.
Simplicity means, is it so simple you’re able to explain it to Grandma?
If it is, then its an interesting business.
Sanchez believes that following these strategies is the key to becoming truly rich.
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