The Science of Flipping - Best Way To Get Started Wholesaling

Episode Date: March 8, 2021

Best Way To Get Started Wholesaling

Yo, yo, welcome back to the Science of Flipping podcast. I am your host, Justin Colby. And on this podcast, we do all things real estate investing with the tools, the systems, the processes, the strategies, how to hire, how to scale, and so forth. So you can be an expert real estate investor. And most importantly, guys, I want you to be incredibly, incredibly profitable. On this episode, we are going to talk about how to jump in this space, how to get into this real estate investing space in the cheapest, easiest way, in a way that you can learn and learn how to become your own business. Now, with that said, if you are a first-time listener here on the podcast, welcome. I would highly encourage you to subscribe to this podcast. I also would

encourage you to go over to the YouTube channel, youtube.com forward slash Justin Colby. Check out all of my daily videos I drop right there on YouTube for you. With that said, let's dive into this podcast episode because many of you that listen to me are on the fence about going all in to real estate investing. Whether it be you're scared not to have any secured income, whether you're uncertain about what list to pull, how to market, or how to get your first deal. I totally, totally get that. I understand. And if you do want actual help by me personally, go to the science of flipping.com forward slash or no, just the science of flipping. There is a form you can apply to work directly with me in on coaching. And I will personally coach you to get started or to scale your business. Now, with that said, for those that of you are out there and you're like, man,

how do I actually get experience in this? How do I actually do this? Well, one of the things I tend to suggest to those that are looking to cut their teeth in real estate investing, many try to choose going and getting their license as a way to get into the space. But I would actually encourage you to seek out professionals in your market who are already doing what you want to be doing, who are already achieving where you want to go, even if that's five years from now, and see if they will give you a job. Now, ideally, you want to see if they will give you a paid job, but even if they don't, you might want to reach out to them to see if you could have some level of internship or work for free until you reach a certain level

of value that you can give back to them. As someone who I have personally done this with many other investors here in the Phoenix market, I currently have someone right this moment that is working for free with us until the opportunity arises for them to give back value to us in terms of worth me giving them or starting them on a commission or salary. And so this happens a lot to me because I've been around for 14 years. I'm a staple here in this Phoenix market. Now, you can do the same thing. You can find those veteran investors and see if you can add value to them. Always, always, always try to add value to them first. Don't go in and say, hey, can I get a job? That's not how you approach this. You go in and

say, hey, you know, if you were talking to me, you'd say, hey, Justin, I'm looking to cut my teeth. I'm willing to do whatever it takes. I understand some of the stuff is not fun to do. I understand it's kind of, you know, I don't know, not fun work. I'm blanking on the phrase I was trying to say, but I'm willing to do it. And to get, you know, some experience under my belt, I want to help you however I possibly can. In return, I'm going to learn and I'm going to get experience from what you're having me do, even though some of this is menial work, not fun work, not sexy work. But I want to also let you know, I'm willing to do whatever it takes for your company. And if someone comes to me and says something like that, I have a higher chance of bringing them on board, right? Like the gentleman I told you about earlier, he reached out to me and said,

hey, dude, I'm making a shift in life. I'm looking to get into this full time. I don't wanna do my own thing, but I'm really wanting to work with you and for you to build out a bigger and better company right there for you. And listen, I can be flexible. We can figure out how I get paid,

but I'll do whatever it takes. Just let me know if you could use someone like that. And I said, well, shoot, I can always use more help. Right. And, you know, frankly speaking, I didn't give him a lot of tasks that were fun or enjoyable or sexy or brought in a lot of revenue, but there were tasks that needed to be done. And he is learning by just simply being in my company and being in my office, you know, day in and day out. And so, um, for those of you trying to figure out how to get into this space full time, uh, taking the risk, how am I going to learn? How do I figure this business out? One thing I will honestly, and I don't know why I use the word honestly, because I'm always honest, but one thing I would say is offer up your services to a veteran in your market and see

how you can help them out. They're always thinking, how can this person help me out? What am I going to get out of this person that's going to help me? So go into the conversation just like that. Go into the conversation saying, hey, I'll do whatever it takes. However I can help you out, just let me know I'm willing to work hard. And most times you will get someone who responds favorably to that.

But just rest assured, you are doing that so you can learn how to break into this industry and learn the X's and O's and learn how to build a successful business. You are not doing that so you can make a high income. So be very clear there. The high income will come. But listen, my first year of business, I made a whopping $7,000. My first year is being an entrepreneur. And by the way, just so we're all very clear, for those of you wanting to be an entrepreneur and you're not yet, being an entrepreneur is very, very difficult. I'm not saying that real estate investing is difficult.

I'm saying being a business owner is difficult. The decisions are difficult. The risks that you should or should not take, those decisions are difficult, right? Making the risk and then making sure you see it through. All of these things, right? Hiring people, where to spend your money on marketing, all of this going into the business ownership side of things,

not to mention building out a team and becoming a leader for your team. Sometimes I question, why am I a business owner? Sometimes I'd rather be a bartender on a beach somewhere. But then I look at my life financially, and I look at my life, what I'm able to do with my life, and it's really special. And so I say all that just to let you guys know, I don't want to scare you out of it. In fact, I'm your biggest champion. I want you to become the badass real estate investor you want to be, or you know, you can become, but I would encourage you if you are going to work with somebody as a way to cut your teeth, realize there's not a lot of money to be

made in that. And also realize your first year in business, you're likely not going to make a lot of money. There are outliers. One of my friends, Devin, who you've heard right here on this podcast in his first year of business, he did 22 wholesales, made well into the six figures. There are absolutely outliers, but those individuals do whatever it takes. They take risks. They work really hard. They sacrifice a lot to get to where they're trying to go. And so that's why they achieve what they're trying to achieve. So this is a slower, however, more efficient way to take very little risk, understand the business model, and actually probably make some income along the way without taking the risk. So hopefully,

at minimum, this makes you think a little bit, you know, about how to get into the industry. Most veterans such as myself are open to these conversations. Doesn't mean they will bring you on or you're the right fit for their culture. But if you're willing to learn and you're willing to do, I would be having a conversation with these veterans about working in their company, helping them achieve their goals. And in the long run, you're going to understand how to build a business, what works, what doesn't work. It is a great way to learn and do all at the same time. With that, if you are actually want to take the fast track, if you want to get directly to the end zone, so to speak, and you want to work directly with me and have me hold your hand and work with you and coach you and mentor you,

then just go to thescienceofflipping.com, fill out the form right there where it says apply now and I or someone on my team will talk with you about what that looks like to figure out if you are a good fit for my coaching or if I am a good fit for you. With that being said, guys, I hope it finds you well. I'll talk to you on the next podcast. Peace.