Multi-Family Investing, Networking, and Learning from Mentors

In this episode, I have the privilege of interviewing Erik Cabral. Erik is the founder of the media agency, On Air Brands; the innovative networking and podcasting event PodMAX; the real estate investment company Mindado Investment Group; and is host, co-host, and producer on multiple shows, including the Entrepreneurs Circle podcast. With multiple businesses, partnerships, and podcasts Erik is the quintessential “serial entrepreneur” who spends much of his time helping others grow their businesses, brands, and reputation.   We began by talking about Erik’s time in the corporate world, working in a creative capacity for Big Pharma, and how he began investigating the concept of real estate investing after being laid-off. He shares how friendly and helpful he found investors while attending events and REIAs, which was very different from the highly-competitive, cutthroat industry he had worked in. Erik took his background in creative work to not only build his own brand as he began investing, but also as a bartering tool to help other investors, which is how he started On Air Brands.   Erik then shared the details of his first deal in which he hired a coach who was an established investor in order to help mentor him through the process. His coach took him to all of his rentals, introduced him to all of his tenants, and finally made him run the numbers on the duplex he ended up buying. He ended up using the BRRRR strategy with this property and he says it cash-flows like crazy.   Erik talked about how he is more active building his media agency than actively flipping or wholesaling right now. He expressed how passionate he is about helping people sell their home, but how much of his time he had to devote to really do that well. He also talks about the inherent challenges all investors face when rehabbing houses and that didn’t feel like time well spent to him either.   I then asked Erik to explain On Air Brands, how it came about and who the company serves. He said that initially, they were doing logos, branding, websites, etc. to help out real estate investors, but it grew as people experienced how professional Erik’s podcast production was and people wanted the same for their own shows. He explained that it all grew from investors who have multiple businesses needing to take their message and their platform into one place.   We talked about how diverse Erik’s business interests are and how he is a partner in Renault Winery & Resort, which is the 3rd oldest winery in the US. He talks about what a mess the project was to begin with but how it has turned out to be such an interesting collaboration with people he is pursuing other investments with. Erik talks about how great it is to be working with a “tribe” of people, all focused on lifting one another up and helping each other to be successful.   We also talked about the birth and evolution of his newest project, PodMAX. It is a network of podcasting shows, especially in the investing space, who are collaborating in Erik’s office space which has several make-shift podcasting studios. We discussed at length how important networking is, meeting people, and the exchange of ideas being vital to our growth as human beings and business people.    This is a super fun and incredibly informative interview and I urge you to join Erik Cabral and me to take in all of this great actionable advice!  

Notable Quotes:   “[In the corporate world] you are building someone else’s wealth, you’re aligning behind their goals to direct their ship where they’re trying to go.”   Erik Cabral     “Mike: Where was most of your real estate knowledge gained? Erik: It was doing. I had to do it.” “I had to start speaking the language, and then I had to start offering value.”   Erik Cabral     “They are chasing just money, but they’re not even paying attention to what their heart or their brain is telling them about where they should be.”   Mike Simmons     “Don’t they need to know you, then like you, and then trust you in order for you to start doing some things together? Well, podcasting does exactly that for you upfront.”   Erik Cabral     “Podcasting is part of that - one spoke on the wheel of marketing.”   Erik Cabral     “Business owners have to be in the business of media. We all have to realize we are social media marketing engines.”   Erik Cabral      “When you can surround yourself with people who are levels up, you learn so much from them.”   Erik Cabral     

Links: Flip Hacking Live Rich Dad Poor Dad Built to Sell 7FF Live Event On Air Brands PodMAX Mindado Erik on Instagram Erik on Facebook Erik on LinkedIn Return on Investments Just Start Real Estate JSRE on Facebook Mike on Facebook Mike on Instagram Mike on LinkedIn Mike on Twitter Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months