There are two types of people in this world when starting an entrepreneurial career: the anchor that holds you down and the buoy who lifts you up. In this episode, Jason Bible and co-host, Robert Orfino, talk about the anchors and buoys and how to know which one to be and which to let go. They get down to identifying the people in your life that you must hold on to lift you up as they relate it to your real estate journey. On the side, Jason and Robert then talk about building a personal brand and how it will lead to credibility in the business. Join Jason and Robert as they help you figure out the anchors and buoys in your entrepreneurial career.
Listen to the podcast here:
Anchors And Buoys With Co-Host Robert Orfino
We’re going to talk about buoys and anchors. I can tell whose principal business is education and whose is real estate.
How do you tell that?
People quite ask you, we show up and talk about it. Casey was here to help us out. At the end of the day, it’s like, “Radio shows are now like, ‘We’re going to do real estate stuff.’” As opposed to having the big production studio. Although we’re about to have all that stuff. We’ve got the cameras and the commercials that sound right.
We want all that. Is that on the board somewhere?
It’s been on the board for months.
We can’t get to it because we’re doing too much real estate.
We’re doing too much real estate over here. Arguing with people on email, when I sent out that recession email. A number of people said, “You’re full of it. You don’t know what you’re talking about.” Everyone who sent me a negative email, I noticed you’re all real estate agents or brokers. We know how well this worked out for you the last time so go ahead and bring the hate. I don’t care. I got a lot of, “There’s no way we’re going to recession in a few years.”
Thirty-six hours after you sent out the email, every major news broadcasting channel was talking about potential recession. I’m like, “Did you hear it right from a news thing or did you come up with that before CNN? That was pretty impressive.”
I’ve read the data. They always get it. It takes them a little bit longer to read, know, discern and make sense of everything. I’m getting a lot of the same stuff as the news agencies are getting because it’s public data so I just fire it out. Their news cycles are always 24 to 48 hours. It takes them a little bit longer. They’re busy on important stuff like Trump’s tweets and then they’re like, “There’s probably recession coming.” It takes them two days to get that thing.
I’m stunned that we’re like a legit organization, that you have the ability to read the data before CNN reads them. I was trying to think on, “This is weird. We’ve taken a huge step up.” My partner is the smartest guy in real estate, for sure.
I appreciate that. We read it in real-time. I was on Seeking Alpha and they were not talking about it. I’m like, “This is important financial news. You can’t whip a blog post out fast enough?” I got a lot of blowback, which is fine. I get it all the time. It will be a little dip. We’ll be fine. Casey was in town and he’s got this cool picture. The people in your life is typically anchors or buoys. If I understand the analogy correctly, you’ve got to let go of the anchors in order to be that buoy or vice versa.The negative people in your life are the ones that keep you from growing. Click To Tweet
He was basically saying there are going to be two types of people in this world when you’re starting your entrepreneurial career. There is the anchor who holds you down and the buoy who lifts you up. A lot of times, we’re holding on to both and we’ve got to let go of one. Do you want to sink or do you want to rise? Choose which one you want to hold on to. The problem is a lot of those anchors are the people that are in our comfort zone. They are around you every single day. They’re very happy to tell you not to do anything new because if you left their circle, it will be one less person. They would be alone. They’re in fear of being alone or left behind. In sales, it’s known as the Jones effect as in Keeping up with the Joneses.
You have that Jones effect where, “I don’t want you to leave, Jason. Oklahoma’s not good. Don’t go to Oklahoma. Stay here. I want you to stay here because I don’t want to have to change.” A lot of those anchors will pull you down based on their own self means and their own self fears. What he said was you have to cut them loose. The problem is sometimes we call those people mom and dad. We call them our sister, brother, wife, husband, girlfriend or boyfriend who doesn’t want you to escape their comfort zone because that will make them uncomfortable.
Ron LeGrand said something very similar. I was in his seminar years ago. He said, “A course is right before he gives you the pitch of whatever he’s selling.” He said something effective, “The naysayers or the negative people in your life are the ones that keep you from growing and most of those people share your last name.” I was like, “That’s a great way to put that.” I looked around the room and I’m like, “Who did that hit? I know who signed up for that.” That was a weekend and there were 300 people in the room. I did a tally of all the people that signed up for stuff. This dude made $1 million gross in two and a half days. That’s insane. That’s hard to do in real estate in a day and then you do it the next weekend and the next weekend. That’s one of the reasons why education is so lucrative.
That’s the perfect example of the guy who clearly doesn’t do real estate. He does education because he couldn’t be on the road that many weeks and actually hold down the fort there.
Anchors and buoys, you’ve got to make a decision on which one you want to be before you can figure out which one you’ll let go. Some people don’t want to change. That’s fine. There’s no wrong answer here. I’m starting to get on this Gary Vaynerchuk kick where it’s like, “You need to do you.” I don’t expect people to follow along with us and do the things that we’ve done. For most people, I won’t recommend it. Don’t do what we do. Most people don’t have the fortitude. When you look at most people, you’ve got to make a decision. Do you want to be an anchor or a buoy?
You’ve got to keep it real. A lot of people lost money in real estate so you need to know the stuff before you head out there. “I’m just playing the devil’s advocate.” My line is of course, “The devil doesn’t need an advocate. I need an advocate.”
You’ve got to make a decision if you’re going to be an anchor or the buoy. There’s nothing wrong with being an anchor.
There are some people who should not be entrepreneurs. We know and you know them. In that case, you might have to bring the hammer and say, “I’m going to lay this all out.” When I do network marketing, this is how I lay it out. This is how’s it going to be. You’re going to have to go around and talk to 100 people and 95 of them are going to say no and think you’re a weirdo. Can you take 95 times in a row and someone’s thinking you’re a weirdo to get to the five that are going to say yes that’s going to put an extra $35, $40 or $50 into your wallet every single week? If you can repeat that and talk to 10,000 people, you’ve got 500. All of a sudden, you’re making $20,000.
Unless you can do that, don’t do it. Don’t think of the rewards before you understand the process. Sometimes, you need to say, “Let’s stay right here and let’s look to the process.” If you can say, “I can do all that,” or “I’m okay stepping out of my comfort zone and go ahead and get 95 doors slammed in my face,” then let’s go for it, but understand the process. In that case, it may not be bad to be that anchor to say, “Let’s take a breath and figure out what we’re trying to do,” which is in your line, “What do you want to do?”
The only time I’ve said, “This is not for you,” are people that are so risk-averse. You need to go find some annuities or some little index fund and pray that you die before you run out of money. If you’re risk-averse, this is not for you because every time they move a tenant out and there’s a chip in the wall, you’ll freak out.
Jason, how do people find us? What’s the best way?
There are two good ways. We’ve got a great Facebook group called Mr. Texas Real Estate. Join that group. It’s totally free. We’re posting articles in there all the time and all the stuff that’s going on.
That’s going to be our main funnel online at this point. We’re trying to build our little community there.
Give us a text message to (281) 401-9008.
We got people that are moving our Mastermind. Two of them are set up like, “Find me $2 million to $3 million apartments.” I’m like, “Let’s go.”
We got a couple of guys that have four to six properties going into contract. It’s something insane. All I know is I’m sitting down and I’m going through MLS and I make offers, “This one, this one and this one.” I see our agents go, “We’re going to give this one to that guy and this one to this guy.” They’re like, “Go let them out as fast as I can.” I’m sitting there and I’m like, “I need to be sitting here and probably doing this an hour a day sending them over to everybody.”
We are definitely looking for some apartment units. We’re looking for that sea-level apartment, little distressed. We’re certainly going outside of Houston and anything you might have in San Antonio, even up in the Hill Country. I’d go to Fort Worth, Dallas but the market there is oversaturated. We’re over in Corpus Christi. We’re looking for 20 to 40 doors. If you text us at (281) 401-9008, you can connect with our buying agents. They represent our buyers so we would love for you to bring us some of that stuff. We’re definitely looking for small apartments.
What I’m looking for and I had a dream about it are single-family packages. If you’re a real estate investor, you’ve got 4 to 1,000 of these small single-family units that you want to sell, give us a call. We like the package deals because we’re able to buy some of them ourselves and split it up amongst our group. On a per-member basis, we have the most active group in the country. We’ve got people that are moving in our group between our American Real Estate Meetup club and the Mr. Texas Real Estate Mastermind. These people buy a lot given the size of our groups. If you’re interested and looking for any of those deals, you’ve got to join our group. You can send us a text message at (281) 401-9008. You can join our Facebook group, Mr. Texas Real Estate group.
Total transparency, if you are ready to join the Mastermind, we’d expect you to be a six-figure earner, $100,000 minimum, with a family, $150,000. You need to have about 700 credit score or higher because you’re going to get the better loans. Regardless of what any loan officer will tell you, you’ll get the better loans. You need about $50,000 to deploy. Maybe $25,000 to $30,000 if you’re going to go after your first duplex. If you have that and you’re ready to start becoming a landlord and build out your portfolio, then the Mastermind is going to be perfect for you. If you’re still working on your credit score, your down payment, then for sure join the membership which is $1,000 a year. We can’t make it any simpler. There’s no negotiating. There are no blue suits. That’s the number.
There’s no weekend seminar where we corner you in a room, “Give me your check.” There’s not all of that stuff. If you are interested in any of those things, (281) 401-9008 or the Mr. Texas Real Estate group on Facebook. I’ve seen a lot of people that joined. I have started adding some people that I think maybe need a group. They have put messages in there like, “Thank you so much for adding me to your group. It’s going to be awesome.” If you want to follow along with the journey that we’re on and if you want to read some economic news that I am looking at. This Trump and Greenland thing, I am finding it so fascinating.
They said, no. If we put them on a 30-day follow up.
I think we’ll start sending yellow letters.Follow and repeat what successful people do. If they’re what you want to be, do what they do. Click To Tweet
We’ll keep sending a little thank you card and say, “We like your fjords. We appreciate your salmon. We would be interested in the gold and oil sit under your country.”
I still want to know who does the title and how big is the EMD for Greenland?
I will stay true. It’s never more than $500 EMD and $50 option for Greenland.
How do you do the due diligence on Greenland? Who’s the inspector that goes, “We’re going to need a survey?” Somebody has to insure this thing. People laugh but I kid you not. I don’t care if you’re buying a $1,000 lot in the worst side of town or a couple of $100 billion for a country. Either one of those things, at the end of the day, the process is exactly the same.
We should go back and look at the debt from World War II and then foreclose on Greenland. None of those European countries paid back their debt. We paid a whole bunch of money and make sure they’re stable. Obviously, there’s a symbiotic relationship that created the world of economy, but still there could be some debt on the books that we could foreclose on.
“We haven’t collected on this in about 65 years. Maybe we could work something out here, on this Greenland deal.” The process is entirely the same. There will be a bunch of attorneys involved. It’s not like Trump is writing up the contract. Somebody else is going to do that. It’s not going to be his money. He’s going to borrow the money from somewhere, I don’t know how that is all going to work. It’s going to be interesting. Maybe Jet Lending will do the hard money loan for it and then we’ll do a refund. Do you think Eddie or Johnny is already called up to the White House and say, “We heard you’re all looking at Greenland. It’s a little distressed. If you need a loan, just give us a call?” Hangs up the phone and leaves a message for Trump and the White House, “This is White House switchboard. This is Johnny Cash.”
I’m working on my Johnny impersonation. It’s not for primetime yet.
In any case, you’re going to have to go to the title process. There’s going to be foreclosing and all that stuff but it’s the same whether it’s a country or it’s a single-family house. It’s exactly the same. They’ll probably have to deal with some sovereign right issues and all that other stuff. “What do you do with all those people there?”
Most of the people there are supporting our bases. It’s a major military hub. It’s very strategic. It’s absolutely a genius move. Truman tried to buy it in the ‘50s. I could understand. All of a sudden, it throws us 120 years back to colonialism where we could grab big pieces of land. We thought, “All the borders are already set.” That would be amazing. Do you know what we could do? We could have Canada buy it and we just buy the LLC. They know that they don’t want to sell to us. Let Canada buy the LLC and then we’ll buy the LLC.
Is that like a Land Trust thing? This is how you buy Greenland. We’ll teach a course on how to buy Greenland. Can we buy a couple of countries in a package and split them up a little bit?
Can we buy five countries, sell off three to pay for the other two and then we own two countries?
We could do that. Rumor has that one might work. Who’s got any money? Europe is broke. Asia is in the toilet. China is much worse than they’re willing to admit. Canada is too small. Latin America, what’s down there. Saudi is having a lot of problems since the oil thing fell apart. It’s only the United States that prints enough money to pretend like we bought it.
It’s the US, China and Russia.
Even other countries that are doing well like Singapore, but they’re not big enough.
We’re back to anchors and buoys. We’ve talk about the anchors, let’s talk about the buoys. Sometimes, if you’re 100 feet down and let go of that anchor and there’s a giant buoy, it’s going to whip you up. You could get the bends. It could be some side effects from rising up too fast. That happens in a lot of people. You get very disoriented. You’re 100 feet down and seeing the top of the ocean. “How did I get here so fast?” You’re immediately in an uncomfortable place, in a place that you don’t recognize. These are the people in your life you have to identify. For sure, Casey is one. He was a buoy in my life. He came in and we had a room of 25 people and we have another fifteen people online. Everyone saw it. Everyone in that room came up to me and said, “We get it. We understand. We can piece your journey. The words and stories we’ve heard about your journey together with him. We see how that all intertwined.” There are four others. You need those people in your lives. People that can lift you up.
When we started Right Path back in 2016 and we did that for about a year. We built this little education thing and a lot of the members in that group would ask stuff like, “What is the next thing you are working on?” Casey and Merrill are two of those and a handful of others that we’ll bring in. This is where it goes beyond the real estate side of this because now we’re teaching business skillsets to people. You said it which makes total sense, “It doesn’t matter if you’re selling shoes, ships or airplanes. It’s all the same.” There’s a big misconception out there that we can automate the human side of business. It is absolutely impossible to do. All technology allows us to do is find people we are likely to do business with faster.
It’s just the communication. We get enamored by it and think it’s a process.
I’ll give you a great example. You hear somebody says, “There are great tools where I can get 50 offers in six minutes.” I’m like, “How many of those gets accepted?” Zero. Now you’re in the commodities business, so you’re either in the brand building business or the commodities business. When we start talking about personal branding, it’s credibility. Whenever I get all this pushback from, “Why do you do Facebook, the radio show and all that other stuff?” I said, “We’re building a personal brand.” When someone hears that, they think, “You have this ego.” I’m like, “You don’t understand. We’re building credibility in our marketplace. That way we become as Casey puts it, Oprah.” That’s the whole point but a lot of people miss that. They’re like, “I’m going to build this automated thing. I will buy this new technology. I’m going to build this huge portfolio.” I’m like, “That’s not how the real world works.”
A lot of times and you get those people come in our little sphere, going back to anchors and buoys, people are like, “I see you are competing with the other guys on the radio station.” I’m like, “We’re not.” They’re like, “You’ve got a radio show, they’ve got a radio show.” I’m like, “We’re not competing.” We know who our competition is and none of them live in Houston. We’ve got a big way to go so all these little anchors out here, we have to let those things go. Take a guy like Casey. He’ll bring us up and get us our national footprint. When we say that right now, people are snickering in their car and laughing like, “Who do these guys think they are?” There’s a plan here. There are three, five, seven-year milestones that we want to hit. We don’t want to be the biggest real estate investing show in Houston. That’s not what we want. We want to get beyond this market and go out because we think there are amazing deals here in Southeast Texas for the next few years. There’s not enough context within this market to do what we need to do.
When you came up with the concept for Mr. Texas Real Estate, one of the funny things you said to me was, “People are going to snicker and then they won’t.” We are literally buying properties on that name recognition alone and it’s a few months old. Wait until it’s five years old. That’s building the brand. That’s what Casey talks about. How do you build the brand? You’ve got to give value. I’ve noticed this, everyone talks about getting on the radio or on Facebook Live, “I’m here to give value.” I’m like, “I hear that but what does that mean?” They’re like, “I’m here to give value, my course is $997.” I’m like, “I think you missed it,” or “I’m giving value and I’m going to put up my Instagram quotes.” I’m like, “You’re not getting it. You’re missing it.” You say it doesn’t make it true. It’s been fascinating to watch this whole thing. You’ve got to build that personal brand. You have to do it in every marketplace. Whether you’re an oil and gas engineer or a salesperson for whatever, at the end of the day, you’ve got to be able to build this personal brand. What that means is credibility. Anybody that downplays that, I’m like, “You’re not going to be successful long-term.”
Getting your five people around you and Casey calls them your board of directors. Identifying, “These are the five most important people for my business and these are five people for my personal life.” Identifying those board of directors and using those, that’s important. You want to have those five people around you that are going to be able to take a text, take a call and respond to an email when you have a question.
I used to have this joke that people pay for all this advice and then they don’t take it. It’s like our SEC attorney calls us and says, “Do X, Y and Z.” We don’t go, “I don’t know, Jillian. I’ve read a blog. I listened to this podcast.” She rolls her eyes and says, “Do what I tell you to do.” That’s what you’re paying her for. When you build your board of directors, you need to take their advice. You don’t automatically do stuff in a vacuum. You give it some consideration on how to implement it. If you’re asking for the advice, you’ve got an issue then to implement the advice.Anyone who makes you feel that there’s some secret is peddling a piece of junk to you. Click To Tweet
I learned a long time ago that I’m not the smartest guy in the room. Follow and repeat what successful people do. If they’re what you want to be, do what they do. It’s simple.
Success is not a secret. What would Jim Rohn say? “Success leaves clues.”
Identify those five people in your life and hold on to them. Those are the buoys that are going to lift you up. If you don’t know what we’re talking about, Jim Rohn has a little section and he says, “You are a reflection of those five closest people around you.” You talk like them. You walk like them. You like the same sports team as them. In the business world, if you take the average of everyone’s salary, they’re usually 10% to 15% of each other. If you’re making $60,000 a year, more than likely your friends are making $60,000 a year. If you want to figure out how to make $300,000 a year, you’ve got to get around people who make $300,000 a year. You only have one house, most of the inventors you’re hanging out have one or two handfuls. If you want to figure out how to blow up your portfolio to 20, 30, 40, then you’ve got to go hang out with people who have 20, 30, 40, 100 so that you can start taking on their traits.
It’s the classic Overton window. When you start thinking, “I could buy two to three houses a year.” You get around to somebody who’s like, “We buy seven. It’s a day job. It’s not that big deal.” You go, “Is it not really that big deal?” “No, you just do it in multiple. Keep buying more of them.” You’re like, “Can you do Airbnb?” “Yeah, you go buy this and do that.” Another way to put it is you get around a certain level of success where excellence is the norm. “This is what we do.” The best story I can tell with that is three doors down there’s a family and they’ve got two Eagle Scouts. You get in these groups in places where you live and like, “This is what we do. We met Eagle Scouts over here.” That’s so rare. When you get around these small groups like, “We do this. We traded this thing, bought this company and built this.”
It’s like being around Casey for a week. “You can do this, buy this company, invest in this and build this other business over here that’s not real estate related. It’s easy, just do X, Y and Z.” The process is simple, but that’s not easy. You’ve got to put some work on that thing. When you start being introduced to those people that are operating on a higher level than you and do it routinely. I always had some trepidation about the business owners that built a business, sold it and then made a lot of money. They were never able to repeat that success. I’ve seen that time and time again. They get lucky, they still worked hard but they never figure out how to repeat that success. What I’m always interested are the serial entrepreneurs that have built multiple successful businesses. They not simply made a good living. They built something, sold it and built something, sold it. That’s when you’re like, “This guy has got it figured out.”
If you do it only one time, then you become a coach. A lot of those coaches hit it one time and now they just do a podcast because they don’t need to work. It could be a motivation thing. Their five is not the right five if they want to get moving on.
They probably get some great advice.
The problem is they’re talking about the market that doesn’t exist anymore.
It’s like, “We’re killing in buggy whips.” You’re like, “I had this great staffing company of elevator attendants,” and we don’t need those anymore. What’s the next step?
“I made a long phone cord so you could answer the phone in the kitchen and walk into your bedroom. I kill it with that. I made a fortune with payphones.”
Do you remember the prepaid phone cards? What have you done since the ‘80s? One of my favorite guys I listen to, they call him the grandfather of innovation and I’ve seen him speak a couple of times but I can’t remember his name. Scott Carson had him in. He was the guy that invented the swipe on the back of credit cards. He invented MLS. He’s like in his ‘90s and still rides a bike. He’s this energetic dude. He’s entertaining. He’s all get up. You meet a guy like that. He also did something with the bomb pricing in the stock market before Bloomberg. He made all those crazy stuffs. You meet a guy like that who invents and invents, builds his little businesses, sells them and still has residual. You listen to a guy who has a story like that and then he literally went around the room at one point. It was someone none real estate related businesses. He was like, “If you can’t explain this to me in three to five steps, this is not going to work.” He was like, “Really?” “Trust me. It gets more complicated than this. This is how it’s going to work.” When you get around those people that have built a lot of successful businesses, you begin to see some similar traits amongst all of them. Keep it simple.
Those guys are going to be the buoys in your life. It doesn’t matter if they’re successful restaurateur and you’re trying to get real estate, that’s a good person to know. They’ve got through the banking process. They’ve got through the creditors. They’ve got probably on a failed restaurant. They know failure. They are absolutely one of those buoys you want to have around you. People that have known failure. That’s the thing about the anchors. The anchors do the deal, have one failure and never move on, versus the ones that you wanted, “I was there. I lost a house. I lost ten houses.”
“I totally got creamed here. I don’t know what to do. Everybody’s freaking out.”
It’s like, “I’m a real estate developer.” “How long have you been doing it?” “I’ve been doing it for 30 years.” “How many bankruptcies have you filed?”
We’re talking about that in the class where somebody comes up, beats his chest, “I’m a developer.” “How many times have you filed for bankruptcy?” All of a sudden his shoulder shrinks like, “I can’t brag anymore.”
Sometimes the anchors are warranted and sometimes they’re not. Most of the time they’re not. Most of the time, they’re the people around you that are afraid of you leaving their comfort zone. That’s the best way to look at them, “Why would you go out there and do that?” They’re happy to see you fail. Anyone who takes a little bit of glee or anyone with, “I told you so.” You have my permission to kick him wherever and walk away. Those are the people you don’t need in your life. The buoys are the successful people that you need to get around. Sometimes, people will sell their access. “I’m very successful. If you want to come around me, it’s a $30,000 coaching class.” What did Joanna do? She was doing $5,000 lunches.
Somebody told me that she bought lunch. It was $4,000, $5,000 to hang out with her for lunch. I was like, “Did you get a couch out of it?”
People would do that, just access. You’ll see that sometimes. Sometimes you have to do that because I would pay for that lunch, if that comes up. We’re going to lunch with her because there are twenty other people who also have the ability to pay $5,000 to go to lunch. I want to know everyone. I’ll take my picture with her but I want to know everyone else in the room.
When you look at how many real estate clubs that bought into just for the network, it starts to make a lot of sense. You’ve got to figure out in life whether you’re going to be the anchor or the buoy. Once you figure out who you are, you’ve got to pick one out of the other. You can’t hold on to both because you’ll drown. Are you going to be that anchor or are you going to be that buoy that rises to the top? Even though you’ll have some people in your life that say, “You shouldn’t do that.”
We strive to be the buoy. Sometimes, you have to be the anchor, but for the most part, we’re talking to people every single day who are like, “You can go do this. There’s no secret here.” Anyone who makes you feel that there’s some secret is peddling a piece of junk to you.
“There are some secrets here. Only I have the secret. I know the secret on how to be successful. I have the secret to honey hole of deals. You need to get into my super uber VIP Mastermind group.” You’re like, “What are you talking about?” You need to be educated. That’s for sure. Once you’re educated, you can read the tea leaves, what are the stitches on the fastball.
Getting in that group, getting five or getting more is important. Casey came in town and got his little group going. We have our group, our Mastermind. There are some good rooms in this town and there are bad rooms. You’re going to have to figure out the anchors and buoys in there and move on.
Thank you as always. We’ll see you.