How to Get Rich Slowly, But Surely
The Hyperfocused Entrepreneur
May 25, 2022
Read time: 4 minutes
Here’s the harsh reality of building a business and investing in real estate…
It’s probably going to take you years to generate any sort of meaningful income.
This deters most people from even getting started. Of the ones that do step into the ring, the majority inevitably burn out and give up because the entered the arena with unrealistic expectations of how quick they’d get rich.
Want to succeed where so many others are doomed to fail?
Read on.
Business – Building Invictus
Since launching Invictus Capital in 2019 we’ve acquired $40M worth of real estate (with another $34M currently under contract), built a capital raising machine that will raise $14M this year, published an Amazon best-selling book (Passive Investing Made Simple), launched a top Apple podcast (Multifamily Investing Made Simple), hired 8 employees, and created an in-house property management company…
And through it all, over the past 3 years, my partner Dan and I have taken home exactly zero dollars.
This is the harsh reality of building a business that people either don’t talk about, or they quickly gloss over so they can get to the part where they’re making millions.
Sure, there are businesses you could start today that’ll instantly generate cashflow.
Most businesses (especially if your goal is to scale) aren’t that.
Most businesses attempting to scale are running in the red.
Having built and exited multiple businesses now, I’ll tell you, it’s terrifying, even when you know it’s the thing you should be doing.
But here’s the thing…
In order to survive running in the red, you (as the founder) need sufficient savings or alternative streams of income so you can hang on long enough to get your business to that sweet, sweet inflection point where you suddenly hit escape velocity and achieve true scale.
Okay, maybe your goal isn’t to build a big business. Maybe you just want to achieve financial freedom and you’ve heard that building a business and investing in real estate are great ways to do that.
First, I fully agree. Those are easily the two best ways.
Second, the truth is you must be realistic in your expectations and timelines.
Real estate, in particular, is not a get rich quick game. It is, however, the best get rich slowly, but surely plan out there.
So whether you’re building a business, investing in real estate, or building a real estate investing business, if you really, really, really want to succeed, the best thing you can do to maximize your odds of victory is to:
- Give yourself a long timeline
- Have a surplus of cash savings
We’ll talk more about how to do that second part in future issues.
Productivity – 3 to Free, 5 to Thrive, 2 To-Do
Many of us high achievers fall prey to the fact that there’s SO much to do and only so many hours in the day to get it done.
If we’re not careful, however, our drive towards efficiency can come at the expense of effectiveness.
Remember, the goal isn’t simply to get more done. It’s to get the RIGHT things done.
Here’s a framework that I’ve been using over the past year that’s helped me zero in my efforts on getting the absolutely most important things done on a daily basis.
3 to Free
You can only get so much done in a day. Armed with that knowledge, the goal should be to tackle the most impactful tasks that, if completed, have the potential to push the needle furthest.
In particular, I narrow my daily focus 3 tasks that if I were to do nothing else for the day, would signify a win. I block my mornings off, before I do anything else with my day, and focus exclusively on these 3 tasks.
Not sure what your three most important tasks are? Read about the I.C.E. method of prioritization we discussed in the last edition of the newsletter.
5 to Thrive
These are the quarterly milestones and projects that, if accomplished, will hopefully lead to the years one or two really big goals.
The mistake I’ve often made in the past is in having too many quarterly milestones. Over the years I’ve come to realize that less is more.
In all reality, 5 major milestones in a single quarter is quite a lot, and yet I can’t bring myself to slim this list down.
Yes, less is more, but sometimes the heart wants what it wants, and 5 seems to be my magic number.
2 To-Do
No matter how hard you try to cut out the fluff in your life, there are inevitably things that got to get done that aren’t really going to propel you forward (like getting a haircut).
Still, these things got to get did.
I find it helpful to allocate time each day towards checking off 2 simple to-do items. For some reason this gives me a bit of mental clarity and comfort to know I won’t eventually get crushed beneath an ever-expanding list of meaningless to-dos.
Wealth – The Time Value of…
Learning to think like an investor is a non-intuitive skill for most humans. At it’s core, being a successful investor means delaying gratification to prioritize our future-selves over our current-selves.
On one hand this ability enabled us to climb out of the trees of the Savannah, plan for the future, and, ultimately, developmentally outpace every other creature on the planet.
Still, thinking like an investor ain’t easy.
Here’s one concept that’s helped me:
Time Value of Everything
You’ve probably heard of the time value of money, which simply states a dollar today is worth more than a dollar at some point in the future.
There’s a couple reasons for this reality.
First, inflation.
Second, utility.
Inflation erodes the buying power of a dollar, so you’re dollar tomorrow can’t buy as much as it would’ve today.
Also, a dollar today has utility, meaning I can buy stuff with it. Or, if you’re thinking like an investor, you can invest that dollar which will then earn a return.
Thinking through this lens is one of the hallmark characteristics of successful investors, but let’s take it one step further to realize that money isn’t the only thing more valuable today than in the future…
In fact pretty much every resource you possess has a time value which makes it more valuable today than at some point in the future.
Two aspects of this worth especially paying attention to are your energy and your focus.
Ask yourself… what’s the time value of your focus?
Where are you putting it, and in what quantities and qualities?
This, more so than anything else, is what will ultimately define your success or failure as an investor (and a human).
Book – The Psychology of Money
This is easily one of the top 3 books I’ve ever read on the topic of financial literacy. It’s great for beginners and experts alike. Here are three quotes to whet your whistle, but we’re not going any deeper, so I suppose you’ll just have to go out and read the book.
“Knowing what to do tells you nothing about what happens in your head when you try to do it.”
“Happiness is just results minus expectations.”
“Getting money is one thing. Keeping it is another.”
“There is no reason to risk what you have and need for what you don’t have and don’t need.”
Want more of my thoughts on this book? Email me (anthony@anthonyvicino.com) and I’ll send you to an episode of the Amplified Impact podcast where I go in deeper detail.
Resource: Readwise.io
I love books. On average I read about 60 of those leather-bound bad-boys in a year. Problem is, notetaking and management becomes a bit of a chore.
Not anymore. A couple weeks ago I stumbled across Readwise.io and I absolutely love it.
Readwise not only syncs with my kindle and imports all my highlights directly into Notion, but it also saves any articles, tweets, or blogs I highlight.
Simply put, it’s awesome.
Definitely check it out if you’re looking for an easy way to consolidate all your book notes.
The Productivity System That Made Me A Millionaire in 3 Years
Whenever you’re ready, here are 2 ways I can help you:
1. Unleash your hyperfocused mind to dominate life, business, and everything in between? Here’s how:
→ The Hyperfocused Masterclass: the exact system I used to overcome ADHD, write 12 books, build 4 businesses, and acquire $70M of real estate.
There are a handful of spaces left in The Hyperfocus Masterclass for those who want to snag the early bird preorder special discount of $49.
Email anthony@anthonyvicino.com to let me know you want on the waitlist.
2. Learn to passively invest in commercial real estate with better returns, less risk, and zeo hassle.
→ Invictus Capital: my real estate private equity firm.
→ Multifamily Investing Made Simple: Top Apple Podcast.
→ Passive Investing Made Simple: Amazon Best Selling Book with 100 5 star reviews.
