I Can Make You Into a Millionaire, But…
The Amplified Impact Podcast
January 15th, 2023
If I could guarantee to make you a millionaire this time next year, but you have to dedicate your year to me, would you do that?
What if it took 2 years? Three?
What about ten years?
In this episode of the podcast, Anthony shares a story about his experience at a local real estate meetup, where he gave a presentation on building a portfolio of multi-family assets and how he and his partner, Dan, raised millions of dollars from private investors through Invictus Capital.
He reflects on how he has come to realize that real estate can fundamentally change people’s lives, and how he loves having conversations with people who are just starting out on their journey in the industry.
He and Dan often discuss the quote “play long-term games with long-term people” by Naval Ravikant, which they believe is essential to success in real estate.
He explains how this concept is related to the idea of compounding interest and how the effects of compounding take decades to see.
He also shares how a conversation with someone at the event made him realize that his horizon when talking about playing long-term games with long-term people may be different from others’ perspectives.
TWEETABLE QUOTE:
“It’s not a get rich quick thing, it’s the best get rich slowly but surely plan out there, but you got to be in it for a long time. You got to really forge relationships.” – Anthony Vicino
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Episode Transcript:
Anthony: [00:00:00] I was at a local real estate meet meetup, giving a presentation. This is probably like a week or two week or so ago. And just sharing a story about like how we built our, our portfolio of multi-family assets, how we built Invictus Capital, how we raised tens of millions of dollars from private investors.
Anthony: And it’s always fun doing that one because, you know, they give you a microphone and some free beer and you stand up in front of a room and you feel really special, feel important. That’s pretty cool. But that’s also really neat because you get to see people at different points in their journey. A lot of people coming into those kind types of free real estate meetup events, they’re at the beginning, they’re, they don’t know a lot yet.
Anthony: Like they, they’re just starting to realize like they’re, the light bulb is going off and saying, oh my god, real estate is this avenue that could fundamentally change the trajectory of my life. It’s a business, it’s an investment. Like, yes, this is what I want to do. It’s really cool seeing people at that place because you know, it’s, it is been almost a decade at this point for me, from when I got into to real estate actually.
Anthony: Yeah. About that. And, so I can I, you become [00:01:00] distant from. You know, as you’re going along the journey, you start to associate and hang out more and more with people who are like around where you are. And you start to lose sight of like, oh yeah, people at the beginning, like, man, they don’t know much yet, but they, but it’s a whole new wide open pasture.
Anthony: It’s both terrifying and exciting beyond all belief. And they don’t know yet, just how close they are to achieving the goals, but then also simultaneously the paradox. They are very, actually, very far still from achieving their goals. So they don’t, they don’t know what they don’t know yet. So I love, I love having conversations with those, those guys and gals because it is just a lot of fun.
Anthony: It’s just a lot of fun. Well, in particular at this event, a guy came up to us after the event, and we’re just having, we’re just, you know, having a conversation and, he asked a question about something that we talk about all the time. Dan and I, which is, Dan is my partner, at Invictus Capital for those don’t, do not know, I’m just kind of throwing out names here.
Anthony: We talk about this quote from Naval Ravikant, one of the, the best pieces of advices advice that we’ve ever seen. It’s, I think Dan’s actual favorite piece. It’s not my [00:02:00] favorite piece, but it’s a really good one. He always says, play long-term games with long-term people. And I think it’s just fantastic advice because if you want to succeed in real estate, it’s not the, it’s not a get rich quick thing.
Anthony: It’s the, the best. Get rich slowly but surely, plan out there, but you got to be in it for a long time. You got to, you got to really forge relationships. The, the whole concept behind play long-term games with long-term people, for me is like, it’s around the concept of compounding interest and putting yourself on the right side of
Anthony: compound-compounding interest, which is you, it takes a long time to really see the effects of compounding. And most of the games happened in the last like two to three to four iterations, and that takes like decades, decades of time. And at, at the event, the guy that came up to us afterwards, he’s like, cool.
Anthony: So when you say play long-term games with long-term people, he’s like, what exactly do you mean? ‘Cause we hadn’t really defined it, we said, You know, very broadly like play long-term games with long-term people and let leave it to you to figure out what that means. Because for us it means something very particular.
Anthony: And in talking to this kid, it became, became clear to [00:03:00] me that the horizon that I’m talking about when I’m saying playing long-term games with long-term people, it’s fundamentally different than a lot of people that are coming from maybe not entrepreneurship or in a real estate background. And this came to mind because the kid goes, so what are we talking here?
Anthony: Like, like I should buckle down and focus on this for like two years, and I’m like, two years my dude. I’m talking about like 20 years. 20 years and we got to, I posed this question to him and it’s interesting. I’ve, I’ve posed this question multiple times to multiple people and I, it always gets like the, the same reaction, which is, if I could guarantee that I can make you a millionaire this time next year, all you have to do is dedicate your year to me.
Anthony: Like you do exactly what I tell you. Whenever I tell you for the next year, I can make you millionaire. Would you do that? Would you sign up for that game plan? And then he’s like, heck yeah, sign me up. And I’m like, okay, what if I said, same thing, but it’s going to take two years? And he’s like, yeah, yeah, let’s do it.
Anthony: And I was like, okay, cool. Three years? He’s like, yep, definitely. And I said, okay, awesome. What about five? He’s like, [00:04:00] slight pause. Slight pause. And he is like, mm. And I was like, that. That right there. That’s what I mean by play long-term games. Like you’re playing on too short of a timeframe. Like you’re 22 years old.
Anthony: Like this kid was just out of college. He was thinking about going to get his real estate license. And it’s like, if I could guarantee that you’re going to be a millionaire in five years, like by the time you’re 27 years old before you’re 30, if you could be a millionaire, I could guarantee that all you have to do is dedicate the next five years to whatever I tell you to like whatever I’m telling you, and you work your ass off to do it.
Anthony: and suddenly it was like, hmm, I’m not sure I’m willing to give up that much time. Because in his, what happens is you think, well maybe I can do it quicker, like maybe it won’t take five years. I could do it on my own. And it’s like, what ends up? And it’s ridiculous because you’re like, man, 27 years old, a millionaire.
Anthony: Like that would be ridiculous. Like I wasn’t even a millionaire at that point. Like it took me until I was about what, 30, 34 probably to cross the, the million dollar mark. And what I was telling the kid, it was so fascinating. I was like, dude, listen. If it took a [00:05:00] decade and you were a millionaire by the time you were 32, you would still be so far ahead of the curve.
Anthony: All you’d have to do is like give up a decade if you were willing to do that. And what’s interesting about the compounding interest is that, you know, it might take, take a decade to do the first million, but what ends up happening is the second million only takes like five years, and the third million takes two years, and the fourth million takes one year.
Anthony: And that’s where the compounding like so, but suddenly, by the time you’re 40, if you play this out, you’re like, we’re five, $6 million. Just, you know, just staying on that. That path. And, but most of the games happened in the last three years, the last three or four years. And so when I’m talking about playing long-term games with long-term people, I’m not just talking about five, 10 years, I’m talking about the next 20, 30, 40 years and like understanding that even if
Anthony: you go to zero at 30, like you still have so much time on your hands. Because I was at, I was at zero, I was at negative 80,000 at 28 years old. Like I was really far behind the game. So if at that point somebody had been like, Hey, you want to be a millionaire in the next decade, I’d been like, Hells [00:06:00] yeah, that sounds great.
Anthony: I happened to get there sooner than that point, but that’s because my journey had also started before that point just took me a long time to get traction. So that’s what I mean when I say like play long-term games with long-term people. People that like you’re willing to play with for the next 50 years.
Anthony: Naval also says, if you can’t imagine yourself working with somebody for the next, for like the rest of your life, then don’t work a day with them. Like, don’t work a day with somebody that you would not work your life with. And I think that’s a pretty good, pretty good rule. Like, like when you’re young, you don’t necessarily have that control.
Anthony: You don’t know who those people are going to be. you don’t necessarily have a lot of control over the opportunities that are going to be coming to you. So I would say, say yes more often than not, and learn the hard way whether that relationship is worth investing in or not. But social capital and investing time and energy into the relationships around us are just as valuable.
Anthony: More so, way more so actually than like anything else that you’re going to be investing in besides the skills that you’re investing into yourself. Because those are something that pay infinite returns for the entirety of your life. Even if everybody, even if you just got stuck on a, you know, a remote [00:07:00] island, like you have your skills even if you don’t have your network.
Anthony: So that’s what I mean. when I say play long-term games with long-term people and something Hormozi, Alex Hormozi talks about all the time, and I agree with this a hundred percent. . He has more exposure to billionaires than I do. But in talking two billionaires, he says the big difference about the way that they think than your regular run of the mill millionaire is that billionaires think on just longer time horizons.
Anthony: They think on the span of 50, 60, 70 years and generations, they’re not thinking in the terms of 5, 10, 15 years. So, I don’t know if you have any ambition to be a mil, a billionaire. I don’t necessarily have that ambition, but it’s good to know that if that is what you’re trying to do, if you’re trying to win that money game, the wealth game, or just trying to win the relationship game, understand that like you’re, you need to lengthen your time horizons.
Anthony: I think everything worth having in this life is born on the back of cooking in the crock pot, not the microwave as my good buddy Matt Atkinson would say. Hope that catches some, [00:08:00] got you. Some perspective on this concept that I talk about sometimes, but have never really gone too deep into hopefully this, I don’t know, like.
Anthony: I’m going through some stuff right now with a partner where they’re being very transactional, very short term thinking, and we’ve been working together for a number of years and it’s like, hmm, I don’t know if I want to keep working with you, if this is the way that you’re going to be. So I’m struggling with it right now, and I’m sure it’s something that’s going to come up in your life at some point through your business, your relationships and friendships or whatever.
Anthony: So hope this brought you some value. For those that don’t know, I am Anthony Vicino, bestselling author, serial entrepreneur, co-founder of Invictus Capital. We have about, I don’t-tens of millions of dollars of real estate at this point. So I make this podcast, to help you entrepreneurs out there hyperfocus on the things that matter so that you can maximize your return on life.
Anthony: That’s a pretty cool. Little catchphrase, right? You like that? I, I don’t know. All right. That’s going to do it for me, guys. I’ll see you back here tomorrow. Peace.
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