The Science of Flipping - Biggest Real Estate Investing Myth BUSTED!

Episode Date: May 19, 2022

The #1 training and coaching system to launch, grow, and scale your investing business!𝐋𝐞𝐚𝐫𝐧 𝐌𝐨𝐫𝐞: http://www.thescienceofflipping.com Become a 𝐓𝐒𝐎𝐅 𝐈𝐍��𝐈𝐃𝐄𝐑 and get access to exclusive training and resources:https://insider.thescienceofflipping.com 𝐈𝐍𝐒𝐈𝐃𝐄𝐑𝐒 𝐆𝐄𝐓 𝐅𝐑𝐄𝐄 𝐀𝐂𝐂𝐄𝐒𝐒 𝐓𝐎: ✔️ Science of Flipping Academy  ✔️ All the systems and software I use in my business✔️ All the tools you need to run your business ✔️ All my Scripts, Contracts, Spreadsheets✔️ Special Discounts✔️ And Much More... 𝐇𝐚𝐯𝐞 𝐚 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧?Get immediately connected with a team member on messenger:http://split.to/tsof-messenger 𝐁𝐞𝐬𝐭 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐅𝐨𝐫 𝐖𝐡𝐨𝐥𝐞𝐬𝐚𝐥𝐞𝐫𝐬✅ 𝐁𝐞𝐬𝐭 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 𝐒𝐨𝐟𝐭𝐰𝐚𝐫𝐞: http://bit.ly/tsofsoftware✅ 𝐁𝐞𝐬𝐭 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐟𝐨𝐫 𝐃𝐨𝐥𝐥𝐚𝐫𝐬 𝐀𝐩𝐩: http://bit.ly/tsofd4d✅ 𝐁𝐞𝐬𝐭 𝐒𝐤𝐢𝐩 𝐓𝐫𝐚𝐜𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐞: http://bit.ly/tsofskiptrace✅ 𝐁𝐞𝐬𝐭 𝐓𝐞𝐱𝐭 𝐁𝐥𝐚𝐬𝐭𝐢𝐧𝐠: http://bit.ly/tsoftext✅ 𝐁𝐞𝐬𝐭 𝐃𝐢𝐫𝐞𝐜𝐭 𝐌𝐚𝐢𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞:: http://bit.ly/tsofmail✅ 𝐁𝐞𝐬𝐭 𝐃𝐚𝐭𝐚 𝐏𝐫𝐨𝐯𝐢𝐝𝐞𝐫: http://bit.ly/tsofdata 𝑾𝒉𝒂𝒕 𝒕𝒉𝒆 𝑷𝒓𝒐𝒔 𝑯𝒂𝒗𝒆 𝑻𝒐 𝑺𝒂𝒚 𝑨𝒃𝒐𝒖𝒕 𝑱𝒖𝒔𝒕𝒊𝒏: “Justin is one of the best trainers in this space. He really gives everything to his tribe.”– Brent Daniels (TTP) “Justin’s ability to connect with people and help them understand what he is teaching, is unparallelled”– Kent Clothier (REWW) “We have been in the trenches flipping homes in Phoenix for over a decade, he is one of the best to do it.”– Sean Terry (Flip2Freedom) 𝐀𝐛𝐨𝐮𝐭 𝐉𝐮𝐬𝐭𝐢𝐧:Justin Colby is the founder of The Science of Flipping Podcast and The Science of Flipping Coaching Program and is an active Real Estate investor having flipped over 1500 homes in multiple markets across the U.S. Justin runs an 8-figure real estate wholesaling business that closes 20+ deals each month in multiple markets across the U.S and has helped 1000s of clients learn how to become successful real estate investors. Justin subscribes to the philosophy of "Wholesaling To Wealth" and is the foundation of his coaching program which teaches you how to get started wholesaling or streamline and scale an existing wholesaling business as well as build long term wealth through wholesaling, flipping, and building a rental portfolio. Subscribe To Justin Colby:http://youtube.com/justincolby View All My Videos:https://www.youtube.com/c/JustinColby/videos  

What I want everyone to realize is you don't have to think small. MLS, there are still deals, right? I was a victim of my own thinking. Get out of your way. This is everything, right? To be dynamic, to be a well-rounded real estate investor, you have to have multiple opportunity strategies. Bring them in from cold calling, direct mail, PPC marketing,

bandit signs, MLS, text messaging. Bring them all in. And then you can exit them. PPC marketing, bandit signs, MLS, text messaging, bring them all in and then you can exit them. You can maximize your exit strategy as you have them. yo yo welcome back to the science of flipping podcast i am your host justin colby and i have a big big big announcement which is we have finally green lit the REI Masterclass event happening June 24th and 25th in Scottsdale, Arizona at the W Hotel. That is it. It is official. The contract has been signed at the W. We're good to go. So if you want to be a dynamic, well-rounded real estate investor that does not just focus on one thing such as wholesaling, but also wants to know how to rehab flip, buy and hold long-term, have an Airbnb portfolio, learn how to raise private money, figuring out what marketing lists are the best to market at, what marketing strategies are the best to use, how to create business capital,

and everything in between, then you want to be at this event, period. End of story. You want to be at the REI Masterclass event. This is not going to be one of those 1,000 or 2,000 people events. This is going to be intimate with just about a hundred people in the room. I am not going to have, you know, 60 speakers. We are going to have a handful of the experts who are in the business, doing the business that can teach you exactly what they're doing. Like I said, we are going to be having experts talk about how to raise private money, more money than you can ever possibly imagine.

How do you build an Airbnb portfolio? How do you find properties virtually across the nation that you can buy as rentals? How are you flipping across the country? How am I setting up my PPC campaigns? How do I just get going in everything in between? So if you want to know those intimate details, then make sure you go to thereimasterclass.com, thereimasterclass.com. This is about you becoming a dynamic, well-rounded real estate investor that is not simply a one trick pony. Again, June 24th, 25th, Scottsdale, Arizona at the W Hotel,

thereimasterclass.com. By the way, since this is the first week we are able to launch it, I am giving you early bird pricing. The pricing, when you hear this and watch this on YouTube, will no longer be available starting next week. As you watch this or listen to this, as of Sunday at midnight, we will increase our prices. So do this now. Don't wait. You will become the dynamic real

estate investor that you knew you could be. Now, now that that plug is out of the way, let's get into one of the most compelling strategies that I have now bought fully into in my own business, and I'd encourage you to, is that this big myth that even I projected out there is that you can't find deals on the MLS. Well, let me tell you right this second, it is absolutely false. Across the country, you can find deals right on the MLS that you can wholesale, you can fix and flip, you can wholetail by simply throwing a couple extra pieces of paint on the walls slash carpet on the floors or LVP, and you could buy for a long-term hold or even Airbnb. I myself was one of those individuals that literally would tell you that this cannot be done. It can't be done. Well, I firmly have been proven incorrect.

A couple of my friends from the Boakley brothers, Ryan Zolin and others have let me know, Justin, you're thinking too small. You are a product of your own thinking. You need to try it. And so I downloaded an application, Privy, which if you go to Privy, T-S-O-F, the science of flipping, that was backwards, the science of flipping. If you were watching this on YouTube, you'd see I did that backwards. So Privy, y TSO fcom if you're watching this on YouTube you'll see it on the screen and it will be below in the comments go sign up for it is literally $97 a month it will not break your bank and what I love about it is it has real MLS access in real markets that you can make offers and comp properties better than any

other service out there. Many of you asked, is it going to replace PropStream and so forth? Well, I still have BatchLeads and I still have PropStream and I use those services for certain reasons. But if you want to be an expert acquisition real estate investor and you want to have expert comps then you need to be in markets that have the mls period end of story well privy gives you that right so privy tsof.com will give you again for 97 a month or they'll give you a discount for you know 900 for the year if you want to sign up for the whole year. They give you the very best comps you can find because they're directly from actual MLS. Now, even further, what that software will be able to give you,

and this isn't just here to, I'm not just doing this episode to sell software out. I'm going to show you why my tune has changed, is that literally you can go in and find buyers, but not just find buyers, but find the buyers who are buying at a certain percent of ARV, right? So you might find a buyer that buys at 68% of ARV. And in this software,

you will then be able to go find a listing on the MLS, granted, that is under 67% of ARV. So if they're buying at 68, you can go into the filters and you can go look at everything under 67% of ARV that is actively listed in the same neighborhood, not miles away, in the same neighborhood. And what that does for you is you literally have a built-in buyer that you can call on the phone and say, hey, if I can find you another deal around the same price that you sold this one,

that you rehabbed this one and sold this one, would you be willing to buy it? Are you good with taking assignments? Awesome. Let me see what my team can do. You go contract the property and then you sell it to your buyer if you are a wholesaler, your buyer

has already proven that he or she is buying at 68%. So anything below that is just gravy for you. This, I swear, I've been talking to all my students about it because I'm so impressed. I myself am making offers on there. I have two full-time people that I brought over from my marketing side, my acquisition side, to work this alone. If you don't have it, you need it. If you want to be a well-rounded, dynamic real estate investor and wholesale and rehab flip and buy long-term rentals and do do creative financing, and build out an Airbnb portfolio. If you want to do everything except for just one thing, you want to do it all, not just one thing, then you are trying to create as many opportunities in this business as possible. So making offers on the MLS, by the way, I found three today, three properties today that I will be making offers on. It took me 15 minutes, 15 minutes.

That doesn't happen, right? What a great use of my time to go out and find three properties that I can make offers on today in 15 minutes. Now I still got to get them accepted, but I also went and found the buyers that are buying in that area at a percentage higher than I'm going to be acquiring it. And here's the kicker. I'm going to be giving the agent list price. I'm not even going to be asking for a discount. Most of you guys are thinking, why is that, Justin? How does this make any sense? Well, it's because the list price, like I mentioned, is under where I know my buyers are going to buy.

So why do I need to ask for a discount? I don't need home runs on every single deal. I need good deals. If I'm a wholesaler, I need to provide my buyers with deals that I know that they will take action on. If I'm flipping it, I just need to run the numbers on what's going to make sense. If I'm keeping it as a rental, and again, because you have MLS in Privy, you actually can see the rental comps in the area as well.

Then I just need to make sure my buy price is in alignment with what it will rent at after I stabilize the asset. So if you do this and you realize the power of the MLS, you no longer need to be in your own market. So for example, I live in Miami, but my home market is Phoenix, Arizona. They don't have access in Phoenix, Arizona yet, but they have access in Oklahoma City, Philadelphia,

many cities in Ohio they have Minneapolis they have st. Louis they have a lot of cities in Florida they have North Carolina's South Carolina's Atlanta Georgia why can't I just go do this in those markets you see the hedge funds in the and the I buyers have made it common practice to be able to do business outside of your own state. Those buyers are there for you as a wholesaler. So why not just get them the property that you know they'll buy in their buy box? Literally the last two weeks have been mind melting for me.

Because I was the first to tell you there's no deals on the MLS. And I've been proven wrong by some of my good friends who are just saying Justin stop being stubborn if you want to be a deal maker and you want to be an opportunist in you want to be dynamic and not just one trick pony I'm telling you for ninety seven dollars a month you need this go to privy TSOF dot com and there's even a promo code you can get.

And they'll give you, not I, I will not, but they will give you calls every week. If you use promo code science, 2022 science, 2022, they will actually give you basically customer service type calls to help you utilize that platform.y tsof.com the the reality is this i'm putting on an event for over 100 people in the room and as a moment in time there's not going to be any virtual right they're going to be in the room you're going to be able to shake my hand you're going to shake the speaker's hand you're going to get hard tactical training on how to become a dynamic real estate investor. This is going to be one of those subjects.

You need to know how to use Privy for $97 a month to have zero marketing budget, zero. It's a no-brainer, and it made my team go all in. As of today, we are making offers. I have my acquisition specialist making an offer today that I just approved because he wanted to make sure we could sell it. I myself am going in there. I'm gonna be making three offers. This is a game changer.

What I want everyone to realize is you don't have to think small. MLS, there are still deals, right? I was a victim of my own thinking. Get out of your way. This is everything, right? To be dynamic victim of my own thinking. Get out of your way. This is everything, right? To be dynamic, to be a well-rounded real estate investor, you have to have multiple opportunity strategies. Bring them in from cold calling, direct mail, PPC marketing, bandit signs, MLS, text messaging, bring them all in. And then you can exit them. You can maximize your exit strategy

as you have them. All right, guys, hopefully that helped. Again, privy, tsof.com, promo code science2020. If you're watching on YouTube, it'll be on the screens and in the comments below. If you're not watching on YouTube, get over there, youtube.com forward slash Justin Colby. Subscribe and make sure you're at the event, thereimasterclass.com, early bird special pricing. If you are listening to this and watching this on YouTube, thereimasterclass.com. Get there, shake my hand, learn how to be a dynamic real estate investor.

I'll see you guys there. Peace.