The Science of Flipping - How Do I Succeed At Wholesaling Real Estate

Episode Date: August 16, 2021

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 is up, everybody? What is up? Welcome back to the Science of Flipping Podcast. I am your host, Justin Colby, and this podcast is all about how to be successful starting in real estate, what you need, and how to get started. Now, I get this all the time. In fact, I actually coach people trying to get started in wholesaling real estate. If you're interested in coaching, go to thescienceofflipping.com. Go ahead and fill out a form. Some of my top student advisors will get with you and fill out if I'm the right coach

for you. With that being said, I get the question is how to become successful out of the gates starting as a wholesaler. And it isn't very difficult and you don't need much money as we've talked about. What I can tell you is you are going to need two really, really, really important services that are not expensive, but they are absolute needs. First is going to be PropStream. PropStream is my end-all be-all for my lists and comping properties. It does so much more, but that is needed. So if you go to tsofdata.com, tsofdata.com, and use the promo code TSOF, they will give you seven days free and you can download up to 10,000 person lists for absolutely free. Okay, so that is a need you absolutely need PropStream to comp properties, as well as pull lists. It does so much more, but that is the big

thing. The other thing I would tell you is you need to be able to skip trace. So even if you don't pull a big list, and you just want to find phone numbers for homeowners, you need to be skip tracing the best in the world is batch skip tracing. So if you simply go to TSOF batch TSOF batch, and you use promo code TSOF shocker, they will give you a discount on skip tracing. These are two must be done. There are two services you need. If you do these, you have everything to start. Okay, so this is the point is I want you to be able to get started immediately. Now, what I will say is where do you start? How do you start finding homeowners? Where do you even want to go? How much money do you need? I'll tell you right now, you don't need a lot of money. The first place, since you do have PropStream is I would

go called all the failed listings. Again, get PropStream. So now I'm assuming you have PropStream, right? You went to TSOFdata.com, you signed up for a free account. Now you have PropStream, go find all of the failed listings, start calling them. Make sure you call them, make sure that you are having a conversation with the agents on why they failed, and then you simply say, hey, I could be interested, I am an investor, let's maybe re-engage the homeowner on potentially a number that might work for me. That is a great start. Point number two, you can also go to Zillow and find for sale by owner individuals. Start calling Zillow.

Now you may need to be using batch skip tracing for some of this stuff. So when you pull a list out of PropStream, you bring the list over to batch skip tracing. Again, use promo code TSOF, they'll give you a discount and you start calling them. You skip trace it, right? Go to TSOFbatch.com, sign up for an account, use promo code TSOF, they'll give you a discount and you start calling them. You skip trace it, right? Go to TSOFbatch.com, sign up for an account, use promo code TSOF, and then they will give you a discount

and you're calling the homeowners. The next thing is going to be Zillow. Find properties that are for sale by owner, give the owner a call. As a matter of fact, guys, the reason why I suggest this, the reason why this is so important, I'm actually buying my own personal home right this moment using that one technique. If you're interested in trying to find your own home, I would tell you to use this technique, let alone trying to find an investment property. The technique works. So go to Zillow, go find for sale by owners, give them a call, have a conversation. Now, for those of you are like well what do i say how do i do this you can go to insider.thescienceofflipping.com i have a absolute

free course insider.thescienceofflipping.com it's a free course go get it and it'll teach you all this stuff it has videos and more trainings okay and it'll help you understand what to say it has scripts in there now another place that you understand what to say. It has scripts in there. Now, another place that you can go to start having conversations with sellers is for sale by owner.com or FSBO.com. You also can go for rent by owner.com. All of these are free ways for you to get in front of sellers and start having conversations. Here's what I would ask, or here's what I get asked all the time. Well, how much money do I need to spend? And I will tell you, you don't need to spend everything, anything. What you need to do is what I just told you. Get PropStream, get batch skip

tracing, pull list of failed listings to start, skip trace them, give them a call. Go to Zillow, find for sale by owners, give them a call. Go to for sale by owner and for rent by owner, give them a call. Those simple to-dos, those simple activities are actually going to generate money. Those are revenue generating activities. And if you do this every single day, you will start to gain momentum. It doesn't mean the first day, week, month, or even 90 days you're going to get your first deal. It doesn't mean that. Now you can. I have many students that get a deal in their first month, but it doesn't mean everyone does. But those activities are really what it takes to get started and be successful at wholesaling. Once you get some of these deals going, then you can take that money and actually

put it into marketing and spend more money and bring in more leads. Now that's more advanced, not for this episode of the Science of Flipping podcast. By the way, if you're not watching me right now, if you're just simply listening to me on iTunes or Spotify, go to youtube.com forward slash Justin Colby and simply go subscribe. Subscribe to my YouTube channel. I drop all of my podcasts are on YouTube and I drop three other videos about business, real estate, and entrepreneurship right there on YouTube. So go over to YouTube and simply subscribe. You will get notifications if you turn your notifications on. So that being said, the last thing I will pose to you is if you are going into wholesaling, one of the most key, most important things

that you could possibly do is make sure you have good buyers. And as you work on buyers and you can pull a list of buyers right out of PropStream, like I said, it is the number one tool you need hands down, tsofdata.com. But I will tell you, you pull buyers out of PropStream. Like I said, it is the number one tool you need hands down, tsofdata.com. But I will tell you, you pull buyers out of there, you skip trace those buyers in batch skip tracing,

you call those buyers to make sure that they're willing to buy the properties that you find. In fact, the reason why this is so important is what I would call is my inverse profit method, which is simply finding someone else's deal, whether it's a realtor or another wholesaler, and bringing your buyer to the party and you collect a fee in the middle.

It's that easy. You don't even have to spend money marketing. You don't need to make any cold calls. You don't need to do any of that. You can actually take someone else's deal, realtor or investor, and you bring your buyer to their party. Guys, it is super simple. I've given you a couple resources here for absolutely free. You can go to insider.thescienceflipping.com,

go there. Super free, great content there. But ultimately, guys, being successful in wholesaling takes the work. It takes the mindset. It takes persistence. It takes determination. The tactical, I can teach you that. I can teach you the tactical, the list, the scripts, all that stuff I can teach. If you're interested in that, go to thescienceflipping.com. I'm happy to coach you. But guys, it's that easy. It's that easy.

I swear to God. So hopefully this helped. Hopefully you guys can hear and see that I'm hopped up on caffeine. It's a great day already today and I've got all the caffeine flowing. But besides that, guys, I hope you, again, give me a five-star review on iTunes. If you are listening to this on iTunes, that always helps iTunes love my podcast more.

And just show me some love. If you're watching this on YouTube, add some comments, ask some questions right there and engage right there on the YouTube video. Otherwise, I'll see you guys on the next podcast. Peace.