The #1 Investing Habit That Made Me a Billionaire | David Adelman

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You’ve been telling yourself the same story. That you need more money to start. That you need the perfect idea. That becoming a billionaire is either impossible or reserved for the lucky. Here’s the truth: the only thing between you and the wealth you want is believing you need something you don’t have.

David Adelman is a billionaire co-owner of the Philadelphia 76ers and investor in more than 90 companies. He built his empire from scratch by turning student housing from a mom and pop industry into a billion dollar asset class. In this episode, he breaks down how to spot great opportunities, structure deals where both sides win, and build wealth from the ground up without a silver spoon or trust fund.

In this episode, you'll learn:

Why great deals are never great for one side and poor for the other, and how David's mentor taught him that terms matter infinitely more than price

The first million dollars framework: why it's harder to make your first million than your first billion, and how small wins beget big wins when you prove you can execute

Why you can't do a good deal with a bad person and keep them in the partnership, and how David learned this lesson the hard way when he let emotion kill a deal he should have closed

The #1 investing habit that separates billionaires from everyone else: bad news doesn't get better with time, and why David demands his operators punch him in the face with problems first before celebrating wins

How to become an entrepreneur in someone else's business, why service businesses like HVAC and plumbing are ripe for succession, and how David would get his first million if he had to start over at 25 with nothing

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(00:00:00) Introduction: You Can Be an Entrepreneur in Somebody Else's Business

(00:00:52) The LeBron James Deal: How to Close a Billion-Dollar Partnership