From the scene of not daring to purchase Starbucks, not daring to let their girlfriends eat, younger individuals give up their jobs in the true property trade to change into YouTubers and earn hundreds of thousands of {dollars} a yr.
Getting into Graham Stephan’s Las Vegas house, the very first thing you see is a big aquarium outfitted with coloration altering lights, crammed with coral reefs and brightly coloured fish. The overall quantity that this millionaire has spent on the tank thus far is $45,000.
It’s symbolic of the massive adjustments which have occurred in Stephan’s life since 2019. At the moment, he was nonetheless working part-time in actual property whereas additionally making movies for his well-liked YouTube channel in his residence. in Los Angeles.
At present, Stephan’s model consists of 5 YouTube channels and 1 podcast channel. He employed 2 extra workers to deal with a relatively great amount of labor. The 31-year-old millionaire has moved right into a $1.four million home and lives along with his girlfriend Macy.
After hitting the $1 million annual revenue milestone in 2019 and incomes $5.1 million in 2020, Stephan expects to earn $6 million (excluding associated bills and taxes) this yr. Of which, Three million USD comes from promoting income on YouTube, the remaining comes from sponsorship contracts and promoting programs on the Teachable on-line platform.
Stephan achieved this by giving up a profession in actual property to focus full-time on YouTube.
Here is Stephan’s journey to changing into wealthy on YouTube:
“All arms” on YouTube
Stephan left his job as an actual property agent on the Oppenheim Group for a number of causes. First, shifting out of California pressured him to surrender his actual property license. And extra importantly, he realized he must be spending extra time on YouTube than promoting his home. Earlier than that, when he first turned well-known, he spent about 20% of his time on actual property and the opposite 80% on YouTube. He often stays up till 2am to make movies.
By the point Stephan switched to full-time content material creation on YouTube in the midst of final yr, his channel had about 1.5 million subscribers and he made $1 million for the primary time from the platform.
At present, his principal channel has about 3.5 million subscribers. From the start of this yr to this previous July, he earned almost $1.5 million in advert income from his YouTube channels.
Stephan is understood for his movies about his actual property investments and revenue. Nevertheless, he has expanded his content material to research the information in addition to clarify complicated monetary matters. He even “catches the development” when making movies about cryptocurrencies or shares meme. A typical Stephan’s day runs from 6:30 a.m. to six or 7 p.m.
From Los Angeles to Las Vegas
Being pressured to remain in a small residence in Los Angeles because of the impression of the pandemic in mid-2020 has prompted Stephan to reevaluate the place he desires to reside and work. He determined to maneuver to Las Vegas after visiting a pal who lately purchased a home in a brand new residential space. Final December, Stephan moved there. This place is rather more spacious and cozy. As a substitute of promoting the previous residence, Stephan determined to lease it out.
Change some financial savings habits
Prior to now, Stephan was well-known and reached the $1 million mark largely as a consequence of his financial savings habits. He turned a millionaire on the age of 26 because of saving 99% of his revenue, at all times “double-saw” cash along with his girlfriend when consuming out, saying no to Starbucks espresso or shopping for branded items.
At present, he’s extra well-known and owns a fortune of 15.5 million USD. However over the previous few years, he is realized that typically spending cash is extra useful than saving each penny. Though he nonetheless refuses to go to Starbucks like earlier than, he’s keen to open his pockets in another locations.
“The largest lesson I realized after I began spending extra freely was that cash may also help me ‘purchase’ time,” says Stephan.
Stephan says he spends $130 a month on pool cleansing and $250 on home cleaners. In line with him, these bills are price spending as a result of he can use that point to work or calm down.
Whereas nonetheless monitoring spending, Stephan has loosened the price range a bit as he earns extra. He saves a median of $400,000 per 30 days. 60% of that goes to funding, the remaining goes to a high-interest financial savings account.
