The Science of Flipping - How To Find DEALS On The MLS Using This One Tool

Episode Date: June 1, 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  

She gets two sides of the buy commission, and she gets a listing on the sale. And by the way, if she brings a buyer, she potentially can get four sides of this deal. Now she knows how she can make a lot of money, so she loves that I went directly for her. That's how you gotta be thinking about this business model, is understanding the agents

and what they're thinking about. Yo, yo, what is up, everybody? What is up? Welcome back to the Science Flipping Podcast. I am your host, Justin Colby. Now, there is a question out there about whether there are deals on the MLS. And my answer to you is yes. And I would encourage each and every one of you, I don't care if you're just getting started or you're a seasoned investor like myself, start utilizing the MLS. I myself, this weekend, Memorial Day weekend, I actually got a deal contracted from the MLS that has six figures of profit in it after rehab. Now, if you're listening to this, I'm likely extending this one last time, which is my live event, the REI Masterclass, June 24th 25th in scottsdale arizona make sure to go to the website the rei masterclass.com i'm going to give you early bird pricing this is

likely the last time i'm going to be doing so so go to the rei masterclass.com to get the early bird pricing which again is already over but But because of Memorial Day weekend, I wanted to hook you guys up as you are deserving to hit your goals this year. Very tactical event. It's not going to be a lot of rah-rah. It's going to be in the trenches, how to do marketing, how to contract deals, how to build a portfolio, how to raise private money, how to get business lines of credit, et cetera. That is this event. You want to be there, thereimasterclass.com. Me and some of the top experts will be teaching you all of these strategies for two straight days. If you want to be VIP and have a third day added onto it,

there's an option for you there as well, thereimasterclass.com. With that out of the way the best tool i can offer you right now is privy tsof.com privy is a tool uh that gives you access to mls's in about 40 plus markets nationally now if you don't want to go national and you want to do it right in your own backyard unless a privy doesn't have access in that market then you want wanna work with a real estate agent. Now, the conversation with that real estate agent should go something like this, which is, hey, Mrs. or Mr. Agent, I'm looking to make some offers as an investor. Now, I can't buy every single home.

I have some level of restrictions on cash, but I am looking to be able to get some good investment properties. I might remodel them. I might buy them in a portfolio. I might end up partnering with another wholesaler and doing the deal in a JV. But either way, I need to start making some offers.

And what I would encourage you is for you to represent me, Mrs. Agent, and I'm gonna give you the listing on the back end if I decide to fix and flip it. How does that sound? Now, you need to go into that conversation thinking this one thought, which is what's in it for me, because that's what the agent is thinking. So you need to show what is in this relationship for the agent for them to

want to work with you directly. Now from there, you would likely want to have that agent start giving you what I call drip emails. You'd set up some criteria that you want to be in, what zip code, size of house, age bill, if you want. But what's most important is going to be some of the keywords that they're going to be searching for. I'm not as picky about size of home, age bill on the MLS. What I'm looking for is the zip codes I want and some keywords. Here are the keywords that you're going to want to tell the agent to put in your drip. As is, fire damage, TLC, fixer upper. Those are just a couple keywords that are going to trigger that this could be a good investment property. Now, if they put those keywords in with the zip codes that you would want to be in, then you're going to have drips each and every day likely giving you new opportunities for you to be making offers. I say this over and over and

over again to all of you. Commitment, intention, and action. I call it CIA. You need to take action above all else. Even if those offers get rejected, even if you're making offers that are countered at too high of a number, just start taking the action, right? It's a law of averages. You roughly need to make 100 offers to get one deal, which means five offers a day, five days a week, 25 a week times four, that's one month, one deal for free, zero marketing budget.

Now, you might wholesale it, you might rehab flip it, maybe you keep it as a rental,, you might wholesale it. You might rehab flip it. Maybe you keep it as a rental. Maybe you house hack it. Either way, you're getting your one deal a month that you so much need. Now again, if you don't mind where you get it and you're likely gonna wholesale it anyways, then I would tell you to get Privy.

Privy, T-S-O-F.com, P-R-I-V-Y, T-S-O-F.com. If you're not watching this on YouTube, you should do that because the link is right there. But I would tell you guys, this gives you access to so many different markets. As a wholesaler myself, it allowed me to buy 14, well, as a wholesaler myself, I've opened my business to a lot of markets. Now, by doing that, because I didn't just stick to Phoenix, I was able to buy 14 rentals last year alone in markets that have better cap rates. That allowed me to buy rentals where in Phoenix, I wouldn't have been able to get that type of cap rate. But the reality here is this.

By having multiple offers a day, let's call it five, in different markets, and by choosing the markets that you know where the buyers are at, you want to reverse engineer this. So obviously there's a lot of buyers in Phoenix, but when I was going national, I had to figure out what market did I want to be in relative to all the other markets. Well, I started with where were the buyers? I wanted to know where the hedge fund buyers were, where were the I buyers, where are they at? Because those are some of the smartest people in the world because a lot of them are like Ivy Leaguers and they go to school to get MBAs and they're researching market data intensely way more than I am. So why wouldn't I follow them? Now in that case, once I see the data shows me

that these are good markets, that there are active buyers then i just want to choose what markets do i want to be in if i could actually buy one as a rental so i'm not likely going to you know chicago illinois in a market and only reason why is i love chicago as a city but do i want to have rentals in chicago my answer is no. So I don't utilize the MLS in Chicago, even though I can using Privy. So whether you decide to do this in your own backyard, in your own market, or you use Privy to go nationally, the key here will be volume of offers. You want to do that. Setting up a drip in Privy with keywords such as as is fixer upper tlc need some love those keywords then will be set in a drip for you in privy and then that way you can get the emails just as if you had an agent sending them to you that's the power of privy again privy tSOF calm it is for $97 a month it is the tool I've been

waiting for for years I mean literally probably close to a decade because it gives me availability to have MLS in multiple markets and not just be trapped into one market if you guys have ever well if you guys have been following me long enough you believe you know I believe in four key criteria, which is your network, your market analysis, the ability to diversify and do this anywhere, and then your ability to have multiple exit strategies. You know that to be true because if you're just a wholesaler, you're missing out on so many opportunities.

If you're just a flipper, you're missing out on so many opportunities. Diversify that. So you've heard me say that over and over again. So why wouldn't you diversify your markets? Not just the exit strategy, but your markets. There are many markets that are much better cities for rentals than a market like Phoenix, which used to be a great market, but it has now been priced out. Point here is the MLS is real. You will get deals if you actually make the offers. So if you're going to do it in your local market, or maybe there's a market you want to be in that Privy doesn't have access to, then make sure to connect with some agents. Number one rule is your network and tell them what's in it for them if they're going to be making offers on your behalf. Show them how they can make their money by representing you on the buy and listing your

property if you decide to rehab flip it. If you show them that, you will find realtors that are going to be a part of your team making offers on your behalf. And on top of that, they're going to be great boots on the street. They can go open a home up if you're going to wholesale it. They can go get you pictures if you need pictures. You really want to do this no matter the market. Now, if you are open to going and diversifying and going national and you want to use Privy, then make sure you're doing a very similar thing, finding an agent. Or if you have the expertise, you can call the

listing agent themselves and work directly with them. Both work. Find an agent to represent you or go directly with the agent that has the listing. Either are fine. I, myself, this weekend, I was able to contract a deal in Tampa Bay, Florida. I'm not very close to Tampa Bay, but the deal makes sense and it looks like it's going to be a six-figure flip if I decide to flip it myself or i might just wholesale it off that being said is i had great conversations with the listing agent directly i did not have an agent represent me and the reason why i did that is i wanted to show her what was in it for her if she represented me she gets two sides of the buy commission and she gets a listing on the sale

and by the way if she brings a buyer she potentially can get four sides of the buy commission and she gets a listing on the sale. And by the way, if she brings a buyer, she potentially can get four sides of this deal. Now she knows how she can make a lot of money. So she loves that I went directly for her. That's how you got to be thinking about this business model is understanding the agents and what they're thinking about. With that said, guys, it's time to either get Privy or work with an agent in your own backyard privy tsof.com and lastly make sure you're at my event this is definitely going to be reviewed at my event we are going to be going over extensively how to use privy to the best of your ability june 24 25th scottsdale arizona uh the rei masterclass.com get your tickets now it is early bird pricing.

Tickets are only going to go back up. I'll see you guys there. Peace.