Hey, everybody, what's going on? Joe McCall, Real Estate Investing Mastery. I actually just dropped my son off for baseball game, and it starts in about 20 minutes, so I have a few minutes here. I wanted to talk to you about something I was thinking about as I was driving here listening to some you know, this is what I want to talk about. I was listening to a radio talk show host from a guy I forget his name. I've never heard of him before, but he's with Lifestyles Unlimited. And that's an organization that does a lot of real estate training. And I've heard about him. I've just didn't know much about him.

But the guy was talking about the 80-20 principle and what he was saying was really good. I didn't know who it was until I Googled him, but now I see why I like what he was saying so much, because he's a real estate investor and sounds like a very successful, wealthy real estate investor at that. And he's made a lot of money in real estate. Yes. And he's made a lot of money selling, coaching and services and products with unlimited but her lifestyle, whatever it's called. But, you know, his guy who is successful and he's successful for one simple reason, and he talked about this on the show. And I want to talk about with you guys, he got really, really good the 80-20 principle. And if you have not heard of that, you don't know what it is. Just Google. It called the 80-20 parado's principal. And I'm I'll do my best to explain it here.

But some scientists or economists in Italy a long time ago started looking at this and started realizing that, you know, 80 percent of the wealth in Italy or this town he was in was held by 20 percent of the people and 80 percent of the land was owned by 20 percent of the people and even started looking at like agriculture. And 80 percent of the crops comes from 20 percent of the land or something like that. I don't know exactly.

But what it is, is usually 20 percent of our results come from 80 percent of our efforts and 80 percent of our profits come from 20 percent of our efforts night. I know this a lot because I'm constantly fighting this in my own business. I'm fighting distractions. I'm fighting staying focused because you can just work, quote unquote, air quotes 10 hours a day. But if you really look at what you got done, it's probably only a couple hours of real work that you actually got done. That makes sense.

So what do we do as entrepreneurs, as business owners? Because it's challenging. You have nobody that you're accountable to. You just kind of go to your office in your underwear or maybe your shorts. Right. And you have to brush your teeth. You want to take a shower, you can wear your same clothes that you wore the day before. Nobody knows. Nobody cares. And you don't have anybody that you're accountable

1. So like when you were working a job, you had to be there at a certain time. And you may not have been working, but you had to at least pretend you're working right.

Now, that you're an entrepreneur and you're working for yourself. It's easy to fall into the trap of, oh, I don't know, just the tyranny of the urgent doing unimportant stuff. And if I could if I would cause I would say something a lot worse. But like, if you want to be successful, if you want to be wealthy, you need to really start thinking about what are the what are the 20 percent of the things that I'm doing that will give me 80 percent of my results.

And what if you just started focusing 80 percent of your time on 20 percent of your the most important things to do? So if you're really the investor, what is that 20 percent the things that you should be doing? Well, it's simple. I talk about it 100 times: marketing, talking to sellers, making offers, like that's it.

Nothing else matters. If you could spend, if you work four hours a day, if you could spend 80 percent of your time focused on talking to sellers and making offers and then following up all that good stuff, if you could make sure your V. A's and your virtual assistants in your team is focusing on that stuff, you're gonna do really, really well. Nothing else matters. And when I see people get in trouble is there. They're over studying. They're. You know, when a lead comes in, they spend 40 minutes evaluating the deal, looking at it, looking at comps, looking at Zillow, looking at pictures, trying to get some information, looking at prop stream on the property data before they even call the seller to find out that the seller did answer. The phone goes to voicemail.

And, you know, it's just that's a waste of time. You need to call a seller. And it's OK if you say, listen, you know, I'm sorry, I I've been calling and talking to a bunch of people telling you again about your house. What's the address again? You know, it's OK to play stupid. It really is.

And they'll understand, like you've been talking to a lot of people, you know, you can open the house up on Zillow while you're talking to the seller, but just ask some questions. And in fact, many times, the less you know about the house, the better, because you're going to ask more questions. And he who asks the most questions controls the conversation. Well, anyway. The interesting thing that this guy was saying, and I forget his name, Mel Dell deal. Yeah, whatever. He was saying, that really good. He was saying if you're just the if you want to be. He called him a loser, then the ten ninety would apply to you.

You're only spending 10 percent of your time on income producing productive assets. Right. If you're just the normal average Joe, you're spending 20 percent of your time on high revenue generating activities, you know, in your business or in your life. This applies to family, to business, everything. Right.

If you're you want to be rich and super successful, then you need if you need to be spending 30 percent of your time on the most important stuff, you're going to be a billionaire. You need to be spending 40 percent of your time. I heard that was interesting perspective because it's unrealistic and impractical to think that you could spend one hundred percent of your time on the most important needle moving things. Right.

But just double where you are now. Like, just take baby steps and slowly increment. If you're at 10 percent, you know, make it a goal in the next six months to be at 15 percent.

If you're an investor, you're struggling to do a deal here and there. Your income's up and down is not consistent, you know, and you're just struggling and you feel like you have had a 10 percent or 15 percent down. Just focus on in the next 30 days. What can I do just to get me up next five percent into, you know, integration or step from 10 percent to 15 percent, 15 to 20. So don't think that you can just overnight go from 10 percent to 30 percent. Well, I think that was a real interesting perspective. And I thought I need to talk about that because. Oh, yeah. The other thing I was gonna say, I think a gay Perry Marshall, I think it was his name. I've read half of the book and it got really good.

It was really good book, but it just kept on repeating himself. So I stopped reading it. But it's called the 80 20 percent principle in marketing or as it applies to marketing things. Peri Marshall, is that right? I'm go look it up. Read the first half of the book. It's really good. And who knows, I might be missing a ton of really good stuff because I didn't finish the book. But think about think about that.

Like in marketing. What where could you what's the most effective marketing that you can do? And you don't know that until you're like, really look at the numbers. If you are doing a spray and pray marketing, you have no idea what marketing is working, what's not. So what if you looked at the numbers and see. All right. Well, this campaign costs me ten dollars per lead. This campaign cost me fifty dollars will lead. But then you look at the profit, the revenue, and then you see, well, you know, I made four times return on ads, spend, you know, four times cost per liter or whatever on this campaign. And I made back two times on this one.

So the leads, the cost per lead, maybe cheaper over here, but over there, higher cost per lead, but more profit revenue per deal. So you need to know those numbers. And then here's the key. Here's the magic.

What if you just got rid of everything else and focused 100 percent on the 20 percent of the marketing? That is the most effective for some of you.

That's direct mail. It's old fashioned, boring postcards. What if you focused all of your marketing just on one strategy and went deep into that? You worked hard at figuring out what postcards work right. Work the best, which lists works the best. And then you focused on repeating over and over because that's where the money is. You have a good list. The smaller the list, the more niche the list. The heart of the list is to get you mail them every 30 days. Right.

The bigger list, like absentee owners, I mean, a guy's gun is like, I'm watching this softball team and he caught a ball in the outfield, threw it home.

So it's not a real gun, but he was a strong throw from centerfield all the way home. Okay, so anyway, what if you just figured out the marketing that's working the best and did just did that?

What if it's a specific neighborhood or a particular type of house? I know one guy who is hyperfocus, real successful, buy and hold investor. And you know, he was hyper focused on two-bedroom brick homes in St. Louis and he only had like three or four areas that he was looking at, but he loved two bedroom brick homes. And why you think he would want to live in? Aren't those sports was like hard to rent? No. He loved them because you can get him so much cheaper, not as much competition. And the rents are pretty comparable to three bedrooms, especially when he gets them like he does and so he can buy them super cheap. There's a return on investment is much higher.

And when he's doing his marketing, when he's looking for deals, he is so specific and nail down on what he wants. He ignores everything else. And he's one of the biggest two-bedroom single family brick home landlords in St. Louis. He's crushing. Doing really well. You know, he pays them off really fast because they're so cheap. He also said that the tenants tend to be better because they're either they don't have kids, they don't have kids, or they're older. They're young, newly married. And they're all that work all day. And so he just doesn't get calls and complaints about them as much.

Interesting, huh? So find out what is that for you? So from marketing, focus hyperfocus on that one form of marketing and go deep into it. Facebook ads are working really, really well right now. OK, maybe your thing is cold calling. Focus in, hammer on that and just not do anything else if that's working really well for you. The for me, when it comes to my, my coaching business, my information marketing business, I've done real well. I've gotten like three different double Comma Club awards from click funnels. I just got the what you

call it, the 10X Award. Yeah. Maybe vanity metrics, you know, but like that's cool. I'll be getting this plaque in a couple of months. So anyway, how did I get to that?

How did I have this success in the coaching, the software services education business? It's more like a publishing business is what I have. I just love doing it, man. I'm so passionate about it. And I'm focused all these years, almost ten years now on podcasts, I have nine hundred and 15 something episodes. I'm close to 1000 over almost ten years next April. Well, how I had success in this is because I've been hyper focused on the one thing for me. The 80-20 for me is this podcast. I love doing it. It's a great way for me to reach out and communicate and touch my audience and people that, you know, have halfway interested, at least in what I have to say. And because I've been so hyper focused on his podcast and creating three episodes a week for almost ten years now, then it's just opened up so many more open doors to go speak at big events and conferences, you know, to get invited to go do things or sell things.

You know, that most people don't normally get invited to. Get the opportunities to rub shoulders with some whatever famous people, you know. But like because I've focused on I've focused on building an audience. I've focused on giving value through the media and podcasting. Right. And other people into other things. Maybe, you know, Max Maxwell has done really, really well with YouTube and Instagram. And you got other guys like that who hyper focused on one channel. They're not trying to do 500 other things. They're not trying to be big on YouTube, big on podcasts, big on Instagram and Snapchat and tick tock.

Just my advice is focus and this podcast with this with this thing. And this is something one of my coaches taught me, the power of focusing on one thing. And he challenged me to focus on the five one things. And this specifically relates to a coaching business because this can relate to a real estate business or whatever. Focus on one customer, one problem, one product or service, one marketing channel. I'm getting more than five one conversion thing like how do you get them to become a customer? Right. It could be a webinar, could be a phone appointment, you know, whatever for one year. Just focus on that one thing.

But let me say it again. One customer is one problem. OK, one traffic source. I think I forgot that one conversion tool like that can be a phone appointment or webinar or something like that one. I say traffic source. I'm screwing all this up. I'm just going off of memory, one traffic source, one for one year, something like that. Right. So if you just rewind that and take all the different things that I said, you might get like six or seven of them. But you get what the point I'm saying for some people that's scary.

Like, Oh, man, I can only focus on one thing and I can't do anything else. Well, if you want to be successful, if you want to be make a lot of money in this business and that relates to real estate, anything. Right. Find those most important one things and focus on that and go read that book. Pumpkin Plan is a really good book. I recommend you guys go check that out. Cool. I got some more things I could sure about that.

I think this enough. I think I've beat a dead horse. Let me say this too. I've got a let's see what you're talking about. I got I got a new book I just came out with called Recession Proof Real Estate Investing. Go check it out because we're in a recession. And if you want to learn how to position yourself to profit and do well in this economy going forward, I think the worst is still yet to come. My prediction is 2021, 2022, We're gonna see the housing market start falling. We're gonna see a large rapid increase in foreclosures and the government can only prop this stuff up for so long.

Cool thing about real estate is they're strategies that you can start implementing, like lease options are owner financing or creative real estate that actually do better in downturns. And real estate isn't like the stock market that's turns on a dime. Then all of a sudden the next day it's down. Real estate takes time to transition and slow down. And you can see the trends. You can see the movement slowly over time and you can prepare and adjust. So you just have to know where the cheese is moving. You have to know where the new opportunities are. And I'm I'm saying this and I've seen this for a long time, just from people that I've talked to that have been investing since the 80s. And a lot of people like that, like the new opportunities that are coming our way, are not really new. They were around back in the 70s and the 80s in the 90s.

But they're new to you. So the market goes in cycles. You just have to know what are some of the strategies that are going to do well in a downturn economy? They're not going to be the same strategies that worked well when the market was white-hot. So give my book REIProof.com, REIProof.com. It's seven bucks. It's an online PDF and with it comes a bunch of videos and mind maps and scripts and my calculators and tools that I use. I think you're going to like go to REIProof.com and check that book out. We'll see you guys. His game is starting in a couple minutes here. So I've got to go. We'll see you. Take care, everybody. Bye. REIProof.com.