What is the most valuable resource you have in real estate investing?
Is it your facebook ads? Is it your leads? Is it the team you’ve built from the ground up?
Although all of those are important, none of those are as important as YOUR TIME.
I’ve been teaching and coaching investors for a lot of years now and one of the biggest roadblocks I see time and again is that people are inverting the Pareto Principle.
The Pareto Principle is the rule that says 80% of your success comes from 20% of your efforts. Here’s the problem – just about every investor I talk to are working themselves to death by focusing on 80% of their time to get 20% of their results.
They are investing their precious time in the wrong activities that have a low probability to achieve their desired outcomes.
The Pareto Principle gets its name from the Italian-born civil engineer turned economist Vilfredo Pareto (1848-1923), who observed that a few people held the majority of the wealth (20%) – AND THIS WAS WAY BACK IN 1895!!!
This year has gone by so fast. It’s crazy that today is the first day of the last quarter of 2021. So let me ask you a very important question: are you on track to finish this year in the way you had hoped?
If your answer is yes – that’s fantastic! Congrats on staying on track to achieve your goals!
If your answer is NO, it’s time to start focusing your time on that amazing 20% that’s going to take you to places you’ve always wanted to go but never had the time or money to get there.
What’s in that 80% that needs to get kicked to the curb? How much time do you spend scrolling through facebook, Instagram, or TikTok? How many hours do you waste watching YouTube videos?
This trivial idiocy may make you giggle once in a while and sure it’s interesting to see what your next-door neighbor had for breakfast, but it’s these time vampires that will have you realizing only 20% of your true potential.
A big part of success is to think and to think right! So let’s apply this to actual real estate investing.
Most people are chasing the same old deals, working hard spending plenty of marketing dollars (and more importantly TIME) getting very poor results.
The probate market may seem small compared to all of the other opportunities available on the market. But when you apply the Pareto Principle, you’ll start to understand that you can find HUGE results in a small niche market like probate.
But here’s the secret that will really supercharge your results: the vast majority of people that get into probate real estate are doing it completely wrong. Their “education” comes in the form of free YouTube videos or courses from people who aren’t even currently working probate real estate.
If you get the right education and coaching, you’ll be the only game in town while your “competition” is spinning their wheels investing their time in all the wrong activities.
Are you ready to finish your last quarter strong and hit 2022 like a champ?
By applying the 80/20 rule to his business, 21-year-old college dropout Michael got his first probate deal even though he was the “new kid on the block” and he was going up against people with decades of experience under their belt. The difference was that these “experienced investors” didn’t have any experience in probate so they were spending all of their money and time in the wrong places.
Committed to your success,
Ernie “80/20” Vargas | The Probate Fox