The Science of Flipping - Financial Freedom Through Real Estate

Episode Date: December 28, 2020

Financial Freedom is one of the biggest buzz phrases out there about real estate, but is it really achievable for you?

What's up everybody? Welcome back to this channel. I am Justin Colby, your host, and today we are going to talk about financial freedom and how you can achieve it. Now, most everyone knows I am in real estate and I have been focusing on real estate for 13 years. So the first key that you'll have to know going into this video is financial freedom comes through real estate. Yes, you might be playing the stock market, you might be doing crypto, and you may be dabbling within real estate. But if you have any level of desire to have financial freedom in your life for the rest of your life and to set your family up right, you need to be doing it through real estate.

And that's what this video is about. Now I have a huge announcement that I want to wait till the end of this video to announce for you guys. This is something that will be engaging for you guys so that you can start to partake in building wealth and building financial freedom. The announcement is epic. It has been a long time in the making. So wait till the end

and I'll make sure I get you this announcement. Now let's talk financial freedom and how you can achieve it through real estate. I don't even care if you have a nine to five job. You do not need to be a full-time wholesaler, rehabber, or whatever. You simply need to understand real estate and economics and quite honestly, leverage the right people. Now, I personally will wholesale and rehab flip over 100 deals a year

every year and have been for 13 years. I'm well over 1600 deals in my career. Now, that is great and that does bring me a lot of cash cash but what it doesn't do is bring me financial freedom you see that business model is a cash is like an ATM it spits out cash but if that model goes away I'm not financially free I need to take that cash in start putting into places that that cash can start to multiply. And what better place to put it in than real estate? Now, I know what you are saying or thinking. Justin, no duh. I know that how to build wealth is buying real estate. Well, let me give you a

little different perspective on this so that I can help you actually get in the game right now, regardless of how much cash you have in right now, regardless of how much cash you have in the bank and regardless of how much time you have to put into buying real estate. Now, if that's of interest to you, smash the like button and hit the subscribe button as obviously the YouTube guys really love when people engage with the video. Now, here's the one secret I don't believe has been talked about enough and that is people will actually put money in a self-directed retirement or a retirement account and not borrow against the money. Now I myself have a self-directed IRA and I know many of you watching this video may have different versions of a retirement account. And I'm not going to sit

here and teach you exactly how to work with your retirement account. But I would tell you, I would convert whatever retirement account you have into a self-directed so that you could take advantage of what I'm about to teach you right now. Most people, especially if you've been working full time, or maybe if you've had jobs over the last decade or so, you might have some level of retirement account. And what you don't know, potentially, is that you can borrow against it. You can take a loan from your retirement account, and this is how you can start building your wealth. Now, there's a lot of people that are doing just fine in the stock market, and I'm okay with that. I have some money in the stock market and yes, I have some money in cryptocurrency, but my whole world revolves around real estate

and I want to help you get into this game. Not just with wholesaling, not just with rehab flipping. I would happily and gladly do that and all my videos typically are regarding that. If you do want to do a strategy session with me, just go to thescienceofflipping.com and click the button and I'm happy to get on a call with you. Again, thescienceofflipping.com, happy to get on a call with you about wholesaling and rehab flipping. Love it. But this is about how you can build wealth. If you have money in the stock market earning you a single digit return, if you have money in your retirement account earning you maybe 1% at best, if you have money in a savings account or a CD, this is money that should be used to buy real estate.

Now, the big announcement that I was going to wait to the end, I just can't help myself right now, is that a buddy of mine, Chris Crone, he's an absolute animal. He's been doing real estate for 16 years and bought over a billion dollars worth of rentals in his career. And I, Chris and I, have partnered on how to help you get into the wealth building game. That is the big announcement. And if you want to learn more about Chris and what this is all about,

make sure you dive in the comments. The link will be right there, right in the comments so that you can learn more about Chris, myself obviously, and how we can all work together to get you more rental properties. But that being said, it is important to know that you do have money and resources somewhere. It is important to know that you do have money and resources somewhere. It is important

to know that even if you don't, you have friends and family that do. So here's the key on how to leverage other people. You leverage someone like myself or someone like Chris or other experts in the arena to find good deals. Leverage their resources to get you a good property. Now most people leverage realtors. They work with a realtor to find them a property on the MLS and that's how they go about it well the challenge we have right now is there's no homes on the MLS so people who are looking to buy more rentals people interested in buying rentals quite honestly need to start leveraging other people such as myself such as Chris Krohn.

Again, Chris has bought over a billion dollars of rentals in his 16-year career, and him and I are putting together this partnership. Links below. Now, if you start to look at your ability to leverage your capital. Now, again, like I mentioned, if you're getting a single-digit return in the stock market, or maybe you're getting a 1% return in your retirement account or maybe you're in a CD this is money I believe to build wealth you should be putting into residential real estate by leveraging others who know how to do it who know how to buy right who know how to manage the property and know how to really make it a turnkey scenario for you so that you don't really have to think about it.

The challenge I hear all the time from my students, I don't know where to find the deal. Even if I did know where to find the deal, how do I know it's a good deal? That is the number one challenge. That is why Chris and I put this together for you guys so that you can really understand financial freedom so that you, one you want, can get out of the rat race.

So you see, financial freedom is all about you not having to work to get paid. Now, I love the idea of the stock market doing well and cryptocurrency. And like I said, having a great retirement 401k, that is all lovely. But when you stop working, is it going to start paying you? Probably not, right? Because the reality is you want that stuff to keep working for itself so you can have a big payday, not a consistent payday. Now, rentals and wealth and financial freedom is how you actually get there. You actually have something that is not just building your wealth oh by the way I can do a whole nother subject on how just by accumulating rentals and by renting them and gaining more equity banks start to give you money so you can

just do it more and more and more right and this is really how it starts to scale so I think it's really important for people to have financial literacy I love our guy Dave Ramsey I don't agree with a hundred percent of things he says I do have a other video that you should check out about his snowball pay down system and is it really right for you I would encourage you to go check out that video but I will tell you to get financial freedom you have to be able to walk away and still be making money every single month. You need mailbox money.

Now, like I said, I love wholesaling, I love flipping, I still do it, we still do hundreds a year. It makes a lot of money, but then what do you do with the money that you make is the key, and that's what I really want to impress upon you. You need to be starting to invest in buy-in holds. Now, is every market perfect for this as a moment in time? It just depends on how you're finding your properties.

I just reviewed a property from a student that quite literally wanted to buy it at 410. It rented for $2,500. It didn't need any work. It's not the worst rental in the entire world, but are there better markets that have better rental cap rates, right? Your capitalization rate on what you make back each and every month. And I would argue, yes, you likely are going to be wanting to be in middle America states. Those are the better states in my opinion on where to do that. But in short, the way for financial freedom is going to be through real estate. Leverage,

not just the money that maybe you don't think you have, the money that isn't necessarily in your checking account, but I promise you it's in a CD, it's in a retirement account, might be in the stock market. There's money out there that you could be using. And then leverage people. Leverage myself. Leverage Chris. And obviously get to know Chris a little bit better. The link is below.

And this is what will help you create financial freedom rentals. There's incredible strategies. There's a bird method strategy. But ultimately, Chris and I are partnering to be able to help you achieve what you want to achieve. Hit the link below. We'll see you there. Obviously, I have my podcast going out every single day. Make sure you are listening to my podcast. It is all things real estate, wholesaling, rehabbing, you name it, tool systems, strategies for my fellow real estate investors. Beyond that, smash the like button if you like this video and hit the subscribe button. I'll talk to you guys later. Peace.