Written by Rebecca Carr Hedges | Photos by Anthony Harden (March 2017)
Mike Summey built a financial empire by believing in the three D’s—Desire, Discipline, and Dedication.
Mike Summey spent most of his childhood in a low-slung, rock-dust-grey house in the tiny coal town of War, West Virginia. The town was aptly named, as it felt like a war sometimes just to survive there. The drinking water smelled like rotten eggs from sulfur. Sewage waste streamed right into the nearby river. Trains coughed black smoke and spread dust from the coal spilling out of railcars.
Today, Summey lives on a 27-acre gated estate called Xanadu, named after the Bahamian resort once owned by Howard Hughes. Xanadu, nestled on top of a hill overlooking Asheville, features an acrylic cushion tennis court with tournament quality lighting, a 52-foot long pool, a children’s playground that would rival any city park, and a 25-yard firing range. The main house, with majestic white pillars, is large enough to be a private club. When Summey wants to attend a game at his beloved Florida State University (his son is an alumnus), he flies his family in his own Beechcraft King Air Turbo Prop Jet.
Palpable success, indeed. Over the years, Summey has amassed a real estate portfolio more than 500-addresses thick, one that generates several million in annual revenue. He has written four best-selling financial books as part of his “Weekend Millionaire” series, and produced an audio program on investments, and he recently published a new title, the Financial Security Bible: How to Build Wealth and Be Happy. Part memoir and part self-help book, it details his experiences over the years, what he learned from those experiences—including the failures—and how others can learn from their own. It’s a book that weaves personal tales of inspiration with practical instruction on how others can strive to get ahead.
The full article continues below. Click to open in fullscreen…