The Science of Flipping - Best Seller List For 2021

Episode Date: January 7, 2021

Best Seller List For 2021

What is up, everybody? What is up? Welcome to 2021. I'm your host, Justin Colby. This podcast is all things real estate investing, tools, systems, operations, you name it. This is the big give every single day. So hopefully you guys come on now. Let me ask for a favor jumping into 2021. I continue to give and give. If you could do me a favor and give this podcast a review, of course, I would love a five-star review, of course, but be genuine, be authentic. Hopefully, I'm giving enough that that is your true feelings. Please go into iTunes and give a five-star review if you believe that to be the case. Now, with that ask, I'm going to now give. Moving into 2021, I get a lot of questions from my students and a lot of the questions regard

about marketing. What is the right marketing to do? Who should I be targeting? What should I be saying? How should I be marketing? Well, the first question that I want to make sure I answer for all students and listeners right here on this podcast is who should you be marketing to going into 2021? What is the list and what are the filters? And then I will layer on a little bit about how I would be targeting them in terms of marketing and allow you to go out there and crush it in this 2021. Now, if you do want to talk to me about how I can help you in your business a lot deeper, or one of my team members, go to the scienceflip.com. There's a real quick tab to schedule a call with me or one of my team members to see if I can be a good fit for you

moving forward and helping you in your business. So the students are asking this question and I'm gonna answer with this. Here are the filters and where I would tell you to go pull these lists. Now, I use PropStream. If you go to PropStream and you actually use promo code TSOF, which stands for the science of flipping,

go to TSOF promo code, right? Or you can do TSOFdata.com. Go to TSOFdata.com. Create an account. It'll give you seven days free. Now I pull my list there and the beginning account I think is $97 a month. I have the big boy, huge account. I think I spent a thousand dollars a month at PropStream to download a lot of lists. The beginning account allows you to download roughly 10,000 leads a month. And when I mean leads, I mean lists of homeowners addresses, right? And so I use that again to go to tsofdata.com, use promo code TSOF. They will give you seven days for absolutely free to join. Now from

there, the filters I use are this. Now this is where get your notepads out, pay attention, or you could just simply rewind this. Obviously I'm on iTunes and Spotify and everywhere. I want to focus on absentee homeowners. Why? Because they are the individuals that are likely being not hurt, but are in harm's way with all this eviction moratorium happening and the extensions that are being given through 2021. Right now, true story, I've been trying to buy a property for seven months here in the Phoenix market, and I can't, not because the seller doesn't want to sell. All the contracts are signed, escrow is opened, but there is a tenant that is unwilling to

play any games. They are totally selfish. They've stopped paying rent to the homeowner. They don't have any good reasons for it, except for they're just trying to take advantage of the system. The homeowner is furious. The homeowner has no repercussions that they can give this tenant. There has been another moratorium on evictions here in Phoenix extending through January 31st. So he has a whole nother month that we have to wait. I have to wait. Everyone has to wait. The constable can't even go out and remove this

tenant. The seller has done everything that they can in their legal power to get this person out. There's nothing they can do. They're stuck, which means I'm stuck. I can't even buy it. Now, the reason why I'm telling you focus on stuck. I can't even buy it. Now, the reason why I'm telling you focus on absentees is for this exact example. Now, the deal I'm trying to buy is extreme, but some tenants are willing to move out. We have done deals recently where we were able to give cash per keys to tenants and they moved out because it gave them enough money to find another place to live. So I want to be focusing on absentee homeowners. I also want a price point for me here in Phoenix and most markets. I want to make sure my estimated value of home in PropStream,

estimated value, is under $300,000. Now you could even possibly do under $200,000 in different markets. In Oklahoma City, I can go under $200,000. Now, the question that then comes up from students is, why do you pick that price point? And it's because it's a good flip and it could potentially be a good rental if I can't flip it well. If I have to flip it and it doesn't get the number I want, I can keep it in my portfolio. So it's a perfect model, right? And then thirdly, I want to make sure that they have owned the home for seven years or more. Seven. That number used to be 10. The number used to be 10 because equity, I want equity. Well, now the homes have been appreciating specifically like 15% in 2020. That is such a big appreciation number that even if someone bought it seven years ago, they have equity.

And so now I'm using seven years ownership or more for equity. And depending upon how big that list is, what your market is and your locations, right? So you might just be targeting a city or several zip codes. For someone like myself, I do the whole county, right? And so I want the whole county, every zip code in the county of Maricopa County for Phoenix. So I have a big list, but that's why I pay more for PropStream. Again, to get PropStream, you can go to tsofdata.com, sign up for an account. It'll give you seven days free if you use promo code TSOF. So that is the filters I use. Now, if you need a smaller list, let's just say that gives you a list of 25,000 and you're looking for something smaller. I would pinpoint the location that you're trying to be in. Okay. So maybe use only five zip codes

instead of a whole County. Um, and then the other thing is I would pinpoint what type of asset I want to focus on single family homes, condos, and townhomes. So that is all I want to focus on. I do not want to focus on land. I don't want to focus on mobile homes. I don't want to focus on duplexes, triplexes, and so on. And so I stick to that. And that has reaped the rewards. That is the list.

Starting today, you need to go download from PropStream. Here's the cool thing. Seven days for free. You have nothing to lose. Go create an account on PropStream. Download your list and it's absolutely free. Again, just use tsofdata.com, promo code TSOF. It gives you seven days for free.

Download your list. I would encourage you to keep it. Reason being is, even though I have the MLS, I still use PropStream to comp properties because it's so quick and easy. It's a down and dirty quick comping strategy for me. They obviously have a lot more features on there that you can use. So I'd encourage you to keep it. But even though if you didn't want to, you could technically just download that list and do that. Now, what marketing strategy should you be using for that list that I just told you

to use? It depends on your budget. I still love direct mail. It still gives me a good return, but the callback ratio is really, really, really low. So if you don't have a marketing budget, this strategy may be a little more difficult. You really want to be very focused with your direct mail spend. If you're looking to go wide like I am, I am using cold calling. So I would take that list. I would skip trace it over at batchskiptracing.com. Use promo code TSOF again. I get hooked up with all the discounts with all the vendors because I have such a great loyal tribe like you guys. So use promo code TSOF for the science of flipping on all these vendors. They will give you discounts. So go to batchskiptracing.com, use promo code TSOF. They will give you a discount.

And that's where I skip trace it. And then for me, I have two different cold calling companies that I basically pin back to back which one is working better. I would use a, I personally, if I'm a solopreneur, I would be doing the work. 13 years of veteran, right? I actually am outsourcing a lot of that work. So if you are interested in what cold calling company to use, feel free to email me info

at the science of flipping.com info at the science flipping.com. I can then put you together who I feel will be a best fit because I'm using two different companies. So I have some Intel on where you're at, where you might be, who would be a better cold calling fit for you, et cetera. So info at thescienceofliving.com, shoot me an email, happy to help you there. Or if you want to find me on social media, you can go to the Justin Colby on Instagram, the Justin Colby. Make sure to like me and shoot me a DM.

You can also follow me on Facebook. You should be joining the Science of Flipping Academy group. It is a closed group, but for you guys, it is absolutely free. Go to the Facebook, go to the Facebook and go find the Science of Flipping Academy group and then go ahead and ask to join there. And then you can shoot me a question, DM me, request the whole thing. So that is how you are going to crush it. I'm a massive advocate of calling. If you're going to call, you can layer on text. Now this is all dependent upon where your marketing budget is. If you don't have a massive marketing budget, I totally can respect it. But let's put out a game plan. Let's really start about a game plan and what you need to do for 2021 moving

forward. Again, I'm happy to help. If you're interested in talking to me about your game plan, go to thescienceflipping.com and simply fill out the form right there, thescienceflipping.com and simply fill out the form right there, the scienceflipping.com. I'll jump on a call with you. We can create that game plan. Hopefully you guys had a good, great, safe New Year's Eve. It is 2021. This year is your year to crush it. Let's go. And I'll see you guys on the next podcast episode. Peace.