139: Rich Dad, Real Estate Investing, and Podcast Pro Tips with Erik Cabral

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Hi everyone. I'm here at Podcast Row in New York City with Eric Cabral. Eric is a man of many talents and many podcasts. He's the host of the podcast Entrepreneur Circle, co host of Capital Hacking, and he produces real estate hackers. All of this in addition to founding his own company, On Air Brands. You and I have something in common that we can geek out on together, which is that Robert Kiyosaki, author of Rich Dad, Poor dad, endorsed your show Entrepreneur Circle and you said he's a man who changed my path in life. I literally cried when hearing his promotion. Robert invited me to his show shortly after Pivot came out maybe a year later.

Really?

And I swear it was one of those emails. I also wanted to cry.

Yeah, I'm getting shocked.

I was like I have made it. And Robert Kiyosaki. It was probably one of the first, first business personal finance books I ever read before I read any self Help. It was one of my gateway books. Changed my life, changed my brother's life. And I'm like, this guy knows I exist. And to get to. Then talk to him on the phone and then it sounds like he endorsed your show.

Yeah.

What a huge moment.

Oh, my God. Yeah. I'm still getting chills. You're telling me that story. Because that's exactly what happened. Like, that was. I call his book the Purple Pill. Like Morpheus. And once I took the pill, there was no turning back. I could not go back corporate America and I could not get a 9 to 5 because once I understood how money worked and how the system works and the rules and the game, it was like, I am going to become a real estate investor. Create enough capital in my life where now I can do what I want to do and have financial freedom, you know, so that's really was the ultimate goal. And then once I accomplished that, I was like, creative beckoned me back because the real estate industry doesn't have creatives. So I was a unicorn in the space where they said, you know, who's doing your logos, who's doing your website and your branding? And I was experimenting with personal branding and putting myself out there. And then that was getting well received. So then that started on Air Brands, you know, because I had to hire freelancers and people to come help me do all the work. And then I was like, you know, let me just make this a real thing and really start helping more people. Yeah.

And that's a great example of somebody's Venn diagram overlapping. So you have this really long tenure as a creative professional and working your way up through the agency life. And then you get started on the real estate building side and then how do those two overlap? It's really interesting, I think, when we. When we see people where even your company on Air Brands, and I think I overheard at lunch you were talking about.

That it's a great niche working with real estate professionals, because they don't. They're not always creative in the same way you are. And some people might think, oh, but that's so specific. And yet, as one of my mentors, Pam Slim, says, it's an inch wide and a mile deep. And it's so true in real estate. I have to come back to this purple pill notion. What stood out the most for you from that book Rich Dad Poured Out? What was your or just give us one purple pill for anyone who hasn't read it?

Absolutely.

Or it's been a while that my.

House was not an investment I was like, what? And he's like, yeah, anything that takes money out of your pocket is not an investment. It's an investment if it puts money in your pocket. So that's what, like, got me started. I was like, I can't get enough of this. But Jenny, I do remember, like, you know, that's just one, you know, tip of the iceberg. As I started, because I was listening to the audiobook and I was commuting. I had an hour and a half commute at the time. That was really just changing my mindset. I was literally punching the steering wheel on the dashboard because it was so powerful. And I was so moved by his message that I was like, this. This is going to just change the game completely for me and my whole family. So then that. That shows you why I got so em. When, you know, I heard my words coming out of his mouth, my name coming out of his mouth. And, like, we got to interview him for our show was just amazing, just even being associated with him.

How did you make that connection so that he'd endorse your show?

Yeah, so one of my business partners is just amazing. He doesn't call himself a marketer, but he's got a beautiful marketing mind, and he owns multiple businesses. You know, big shout out to Josh McAllen. So he was in a networking event, very much like what we're doing today at Podcast Row, and Robert Kiyosaki's one of the speakers. So that's how he got in and said, hey, we love you. Can you do our show? And then at the end of the show, he masterfully said, can you please just say you. You know, smart? Yeah. So this is what we have to start doing. I forget to do this. So I was with James. Right. Altucher. I'm like, I forgot to get a sound bite from him to say, hey, this is James Altucher. You're listening to the Entrepreneur Circle. I have to get one from you. Now that I remembered.

But, yeah, hey, this is Jenny Blake. No one's.

Yeah, the biggest.

That's genius.

You have to get them to say the name of your show and endorse it so you can use them as bumpers and ads, especially if you have.

A fun time on the show and the interview goes well. And wow. I see. I love. I love geeking out on systems and. And in this case, you're not taking any extra time from that mentor.

Right.

You're. They've already said yes to the podcast because of some connection that you made with them and some spark and I just. Wow, that's a, That's a game changer right there.

Yeah. So I'm glad that, you know, the, the co host of mine for that show, Capital Hacking, he, he does a lot of things that I never would have thought to do, and that was one of them. And he's a big proponent of always asking people to subscribe and like, and leave a review on itunes.

Did you hear that, everybody?

I don't forget to like, subscribe to.

Jenny's podcast now endorsed by Eric Cabral, everyone. Yes.

Yeah, because I'm not, you know, like, I'm the creative side. I come up with the ideas and the brand, but not the so much leveraging all the marketing on the back end.

I think I'm allergic to the word marketing and even networking. And I know you're really good at networking, but when you put it that way, like these just quick, easy things. And I think, I think the person, the Roberts of the world, they have to enjoy you and enjoy your show and probably know something about it. Otherwise it'd be weird for them to put their name like a sight unseen. But yeah, for me, the Purple Pill was Robert's book, the difference between Assets and Liabilities. And it's funny because my brother and I went two different routes. I went the intellectual property route, which is a slower climb, I would say, than real estate investing. But we, I did have a mind and my family does some real estate investing as well. And just learning more about that. He's a ninja compared to me. He's always giving me advice of what to do, but understanding that, you know, he was one of the earliest people that even described the difference between freelancing versus creating assets. And then of course, Tim Ferriss 4 Hour Workweek is another purple pill all its own.

Absolutely.

This is funny because we've never talked about real estate on the Pivot podcast. And in fact, I was listening to Alex Rodriguez. He and I co taught a course at Stanford GSB called Strategic Pivoting. When I say we co taught, I mean.

Alex Rodriguez.

Yes. Baseball player for the. Former baseball player for the Yankees.

Yeah.

He's a big real estate agent now engaged to jlo.

Yes.

And he was describing on a podcast that he was co hosting about his real estate investing strategy. And I hit replay five times. I rewound to hear again and again and again how he went from one property and snowballed it into multiple properties. And so although it's very specific, especially for the topic of Pivot Podcast, I would actually like to hear what you Learned and what your approach to real estate investing is, which is different than just owning the home you live in.

Yeah, absolutely. So what you're talking about with Alex does is called the Brrrr strategy.

Oh, yeah, I just learned the Brrrr strategy.

RR stands for buy a home, right? Then you re. You rehab it, then you refinance, you rent it, and then you refinance it, and then you repeat, right? So you buy it, you rehab it, you rent it, you refinance it, and you repeat. So that allows you to take capital. So say for simple Math, you buy $100,000 home, and then you. You put some fixes. Now it's worth, you know, 200, right? So then now you can actually refinance it. The bank will give you what it's worth. Now you just made $100,000. You take that capital, which is tax free, by the way, and you take that money and you go buy and do it again.

See, this is where my brother is constantly on my case because I own a property that I used to live in, and he's like, you got to refinance that thing. You're just sitting on money. That's. That's not working for you. It's not doing anything. And me being super conserv, I'm like, but it will be paid off in 10 years. And I know, I know it's stupid.

It's reprogramming your mind. That's what the whole Kiyosaki mindset thing is where, you know, it's. It's. There's good debt and there's bad debt, Right? So bad debt. Bad debt is obviously credit cards, right? Things that it's. It's. You're buying things that don't make you money. But good debt is. You leverage the debt to make more money so the money works for you. Yeah.

All right. I always say when I've heard something twice in a short period of time, it's time to take action. If it's a book title. The Universe. The Universe. And my brother is like, he's probably put 10,000 hours into real estate. And why I don't just listen in an instant, but sometimes these things need to think in a little bit. And it's funny you mentioned bigger podcasts, bigger pockets, because I just saw the brrr. My brother had told me what it was. He's like, duh, it's the brrrr strategy. Not in a condescending way, actually. I just added that he's much more direct. But I'm glad you explained it. You put it really well.

So brrrr. Is it's existed. You know, investors have been doing it forever. They just Biggerpockets labeled it and put a, you know, so easy way to.

Remember there's a tip around IP and that they. If you make something easy to remember, create a system around it.

Exactly.

We now know what it is, right?

Yeah. I mean, easier to talk about it.

Yeah. And by the way, for anyone who wants to listen to that Alex Rodriguez episode, it's on a podcast called the Corp. And it was one of the earliest episodes.

Okay.

You did mention networking. And we're both here today at Podcast Row, which is actually so fun. I didn't know what to expect. And I'm super introverted and whatnot. I am.

I don't get that.

Well, because I think introverts enjoy deep conversation. And one on one, I don't enjoy. If I go. Sometimes if I go to a book launch party and I know the author, I just go hide in a back room somewhere or the bathroom. I don't really. I don't like to just like mix and mingle around.

Yeah.

But this I really love and I really love getting to know. But tell me, tell me some practical tactical now networking insert whatever word doesn't give you hives, but of building authentic relationships with people. What helps you get to know people, especially ones that you respect or are interested in, like James and so on.

Yeah. So 100% now it's podcasting. So I have several shows, one of which Entrepreneur's Circle that you mentioned.

Quick timeout. Eric says podcasts today are what websites were in the 90s. So true. Okay, keep going.

I mean, I keep putting it out there because I want people to realize the importance and the power of podcasting as a platform because there is nothing out there. And I've been in the industry for a long time that allows you to do this and create networks and partnerships and find clients, just overall lifelong friendships with people that you never would have had the opportunity to. To pull into your circle. So, you know, for example, one of the biggest guests, probably she's still the biggest guest on my show is Randy Zuckerberg. How would I have ever gotten an opportunity to talk to her and get her a Randy? So anyone wants, you know, yes, the name sounds familiar because she's the sister of Mark Zuckerberg, but I don't talk about her in that light because she's accomplished so much on her own. She's actually left Facebook and started her own Zuckerberg Media.

And she Has a book too, right?

Yeah. She has DOT complicated a whole brand behind, you know, empowering young girls to get into tech. Got Sue's tech kitchen. She's just doing so much stuff. And I got two little girls. So I like, you know, it drives home for me. But anyway, when would I have ever had an opportunity to say, hey, Randy, can you be on my show? Jason Pfeiffer, chief and editor of Entrepreneur magazine, Can you be on my show? Yeah. 99% of the people I've asked to be on my show say yes. And I loved it because, you know, James actually, you know, backs it up with his 400th episode. Is called 400 episode means 400 yeses. Right? Because he got all these amazing people on his show. So when I tell people how powerful it is and that if you have a message and you have a brand and you want to build a community or you already have one, you know, there's nothing more powerful than creating your own podcast right now.

I agree. And it's such an incredible way to meet other people. Just like this right now. You just kind of get thrown in. I know, connect, talk about ideas. That's one thing I love is that get to explore interesting people and ideas. But for me too, I've made some of my clothes, friendships now from people that I never thought would even answer my email. One of them's Penny Pierce. We've. We had so much fun. She was like this. I just was bowing down to her. She was Robert Kiyosaki of the intuition world. She wrote a book called the Intuitive Way. And we had so much fun on our first podcast that now we're nine episodes into what we affectionately have reverse called the Penny and Jenny Show.

Oh, really? Yes.

And it gives like a sub podcast. Thank you. And we just have a blast and we keep in touch. And I never expected that or coming. But by recording a podcast, you actually, it's easier for someone to say yes because you're also adding value and getting their message out to all of these other listeners out there.

There are so many facets to the benefits of having your own podcast just, you know, from, you know, aside from you being the. The. The host. But like you said, the guest gets the benefit from it. The people who are listening get to benefit from it. Everybody wins. It's just a beautiful thing. I just love being a part of it.

I do too. And I totally second what you said about being the website of the 90s. Like, it is a lot of work. I can't sugarcoat that it's a lot of work. I started blogging in 2007, so relatively early days. And it's way more work than blogging, in my personal opinion. But it is really worth it. And anyone who's listening, you're listening already. So I don't have to sell you on listening. But it's so intimate. You know, I love me. I love binging on a new podcast that I discover and I feel like the host is coming around with me all day.

Ye. And there's so much gratification. I'm sure you've experienced this, Jenny. When you go around, if you go to networking, you're just hanging out and someone comes up to you and says, hey, I heard your show and I got so much out of it. I bought that guest's book or their program or whatever, you know, and it's changed my life or, you know, something you said on the show the other day just changed my life. Like, that's massive, you know, that is so much, you know, giving back that you can't really, I don't know anything else that compares, really.

And that's, that's for me now happening as much as, if not sometimes more than, oh, I read your book. It's. I listened to your podcast. Eric, as we start to wrap up, this has been so fun to talk to you all day. What is one book, app or podcast that you've been geeking out on recently?

Recently. Okay, so we keep dropping, you know, the Kiyosaki thing. One of the ones. This isn't recent, but it did change my life too. When I started to getting into building a business was the email, which, you know, by Michael E. Gerber. I mean, anyone who's trying to start a business, that's usually my audience too, is a lot of people who are really trying to make that transition from corporate America into entrepreneurship. The E. Myth is a given. You have to. I'm reading Scaling right now. You know, this just. It's all about trying to put systems and processes and teams in place so that we can start to serve more people, you know?

So, yeah, what I loved, I admittedly did not finish E Myth Revisited, which is practically a crime. I'm eight years in business. I don't know what's wrong with me because I love reading. I just, I don't know why I didn't finish that one. However, it was so powerful to understand that in any given business or any type of personality, you can have an entrepreneur, a manager, and a technician. So uses the metaphor of a bakery. There's the baker, there's the manager and there's the entrepreneur. And they're not always one in the same. And often people, especially founders, try to do all three.

Right. Or the technician tries to start a business.

Yeah.

Or the manager. And that's.

And then they're not doing the thing they love.

Right, right.

Is there any other purple pill that I missed from that book that we should.

No, that's the major, major one. That's like, are you a technician? Are you the manager or are you the visionary? Right. And you have to figure out who you are. Because if you are the manager that loves to manage people and build systems and things, maybe you're not the idea person, you know, or maybe if you're the visionary, maybe you're not the one that likes to do the actual work.

Which one do you lean towards?

Unfortunately, I have to be all of that right now.

I do love being all of that to some extent.

Yeah, it's fun. But then, you know, then we get caught in working in your business and not on your business.

That's true.

So that's where I am now. I'm trying to, trying to remove myself from the day to day and start putting more teams and systems in place so that I can start to do the higher level stuff to grow the business. But yeah, that's, that's where I am now. But I am definitely the visionary. And, you know, I just love being inspired and inspiring others to be whatever they dream themselves to be.

Amazing. Well, I can't wait to listen to your many podcasts.

Oh, you're so sweet. I've been listening to yours. It's awesome. You do a great job.

Thank you. Eric. Eric, where can people find you if they want to keep in touch?

Yeah. So you can reach out to me directly, Eric E R I k@onairbrands.com or you can go to our website onairbrands.com be more than happy to hear from you.

Amazing. Thank you so much.

Thank you.

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