The Science of Flipping - Episode 129: Secrets To My Success | Real Estate Investing Podcast

Episode Date: August 17, 2018

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Welcome to the Science of Flipping Podcast. I'm your host, Justin Colby. Justin Colby. Yo, yo, what up? What up, everybody? Listen, this is a really important training. If you are not currently following me on Instagram and or Facebook, or you're not following my public figure page, you need to start following and YouTube. Everything is the Justin Colby. So, at the Justin Colby. Make sure to follow me on Instagram. Make sure to follow me on Facebook. There's a difference. There's a personal page on Facebook and a public figure page on Facebook. My personal page already has 5,000 members, but my public figure page can

have as many members as possible. And I'd encourage you to like my public figure page and start following it because I'm going to put incredible amount of content there. And I always possible. And I'd encourage you to like my public figure page and start following it because I'm going to put incredible amount of content there. And I always do. And so this is a very exciting video I'm going to be recording because I've been getting an overwhelming amount of questions on my Instagram. I encourage you to communicate with me on my Instagram. And I will always do my best to reply to your questions about what has been the secrets to my success. And so I started answering this question on Instagram. Again, go to thejustincolby at Instagram. But I also wanted to give you guys

some of the secrets to my success. And I didn't write it down in any specific order. So bear with me. It's not one is the most important and five is the least important. But I will tell you, I made a decision and I didn't look back from the decision. So the first one I would ask you to write down is you have to decide what do you actually want? What avenue of business do you want to go into? And when you can figure that out, and I would encourage you to be able to make that decision based around your passion, which would be number two. I knew I loved real estate, right? And so I've been flipping homes. I've been a real estate investor for now almost 11 years. I started in 2007. And so you need to decide first. And a great way to decide, which would be probably number two, is to follow your heart, to follow your passion,

to follow something that you desire. Don't just get into business to make a lot of money. Because if you're in business and you're watching this video, you know, being an entrepreneur is not easy. Yes, you can make a lot of money, but it is tough. Okay. So you have to decide. Then you want to be able to follow your passion. You, you guys all know that I run a very successful consulting company. I'm called the science of flipping. I work with you guys one-on-one at times and other times in small group scenarios maybe there's five people in the room maybe there's 20 and other times I'm working with you guys in a mastermind but I will answer any and all questions for those of you that have more questions go ahead and direct message me saying I saw your video I

want to know more about working with you all that is great but that's not the intention of this not the intention of this video. The intention of this video is to give you the secrets of my success. And so I decided to follow a passion, to follow my desire. Um, and then I committed. And when I say commit, that means shit gets real. Shit gets difficult and it can be frustrating and it can take longer than you want it to take. And you could have hurdles that were unforeseen and it can be frustrating, and it can take longer than you want it to take, and you could have hurdles that were unforeseen, and it could cost more money than you thought it was going to cost, and, and, and.

But when you commit, you're able to overcome those hurdles. You're able to have fortitude and be able to last as long as it takes to achieve your goal. And then alongside of that, if you follow your passion, then you're going to be able to be encouraged to follow this process and to take longer and to do all these things. Because not only did you make a decision, you committed and that commitment is based around your passion, what you feel in your heart that you know you want to be a part of. A lot of you want to be a real estate investor. You want to be a part of. A lot of you want to be a real estate investor. You want to have a company like mine. Some of you may want to have a

consulting company like mine and we can talk about that. But the next thing is I have a purpose. And I speak to that is I have a purpose to be also to be able to give back in In terms of real estate, it felt really, really good when we were rehabbing 96 homes that were given to, not given to us, we bought them, but we were working with a nonprofit and that was able to give back to A, the nonprofit, B, underprivileged people and families. So all of that fulfilled a purpose. And now my consulting company fulfills a purpose to be able to give back and teach and to give to those that are looking to achieve what they want. And so decide, commit, follow your heart, have a purpose and a passion. And that has always driven to my success. I don't make excuses. I don't. If something does not go right, I don't point the finger. I don't

say, well, it was because of the real estate economy. Listen, there was just as many people lost everything like I did. Just as many people also made millions and millions and millions and got filthy rich. Maybe not just as many people, but a lot of people because they made the right decision because they knew when to move, when to take advantage. And they actually did the right things versus me that was just hummed to dumb and didn't know what I didn't know. And I lost everything. Right. And so I don't point fingers. I don't tell people or I don't know and I lost everything right and so I don't point fingers I don't tell people or I don't use circumstances that I could very easily say that's the reason why right or I lost money on this flip because of X Y

and Z I just say we underwrote the deal incorrectly our fault we lost money or I made the mistake my fault I always look money. Or I made the mistake, my fault. I always look in the mirror. I never make excuses. If you're out there making excuses, you will never achieve what you want because you're always trying to find a way to say why you can't have it. And you will never achieve what you genuinely want when you're out making excuses. So I never make excuses. I think one of the biggest reasons if there was an actual rank to this video and I put things in genuinely what I believe surround myself with that are doing it better, that are doing it bigger, that are more successful, that have done it longer, that have failed more than me. I'm constantly looking for those type of people in my life. All the way up to this year, I hired two more individuals to be my coaches, mentors, consultants in business. And so that was another 50 plus

thousand dollars I spent this year. And it's not to say I spent the money, but it's because I want to surround myself with people. And sometimes I need to cut a check to do so that are doing it bigger, that have done it longer, that have been more successful, that can teach me what I need to know so I can cut the learning curve. And I've always done this. Some of my greatest friends and business partners, some of you may know them, Sean Terry and Kent Clothier, at one point were my mentors, right? And now we're in business together. We're great friends. We spend time with each other's families. We travel the world together. But at one point, they were my mentors, right?

And so I'm constantly looking for those people. From that, that has led me to meet people like Jesse Itzler and Grant Cardone, Elena Cardone, Rudy, Rudy Rudinger from the movie Rudy. All these people have made such an impact on me. Michael Phelps, I just had a quick conversation with Michael Phelps at Starbucks. He's here in Scottsdale. And so being able to surround myself with people in the mindset has really been huge. Being a big student, that's another one. I'm constantly learning. I just told you I just hired two more mentors, well over $50,000 spent,

but it's because they know something about business that I don't. And I want to achieve that level of knowledge so I can take massive, massive action. Uh, and so I'm always a big student. I'm constantly reading. If I'm traveling a lot, I'll do audio books. I'm always trying to improve myself, both personally, self-development and in business. And lastly, just for the sake of this video and a little bit of time, I take massive action. And when I guarantee people aren't going to go, that's when I go even harder. And that's when I go faster because I bank on my competition, quitting, giving up, making excuses, not having the fortitude. And so I take

massive action. And sometimes that leads to mistakes. There's no doubt about it. But more often than not, if I can win 80% of the time and I lose 20% of the time, I'm way, way ahead, baby. Right? I'm way ahead. And it's because I take massive action. I don't do it blindfolded. I do my very best to be able to be knowledgeable about the action I'm going to take. But I'll tell you, that is paramount when it comes to my success. And so again, none of this was in order about the most important, least important. Taking massive action, being a big student, surrounding yourself with other people. And if that means you need to cut a check to do so, do it. I'm a huge advocate in investing in

yourself. Decide, make a decision, commit to it, follow your heart, have a purpose, have a passion. These are all secrets to my success. It has helped me build two very successful seven-figure-a-year businesses that are currently running right now that are active I'm very excited about all of this I'm excited about helping you if you are interested in talking to me on any level about working together One-on-one or in a small group. I'm happy to answer those questions. Shoot me a direct message um, wherever you might see this this is Likely going to go in social media. It's going

to go in, you know, YouTube is going to go on my Science of Flipping podcast. So it's going to go everywhere. If you see this and you want to talk to me further, send me a message on Facebook or Instagram, TheJustinColby. I'm happy to talk to each and every one of you and hopefully this video, The Secrets to My Success. By the way, I didn't give it, you know, I haven't been thinking about this for a year and this is, you know, not the full list or as many secrets to my success, but I hope this group can, this list can help you. There is more, but I hope this can help you a lot. I look forward to talking to each and every one of you. Peace out.