The Science of Flipping - How to WIN in 2023

Episode Date: January 3, 2023

The #1 training and coaching system to launch, grow, and scale your investing business! 𝐋𝐞𝐚𝐫𝐧 𝐌𝐨𝐫𝐞: http://www.thescienceofflipping.com Sign up for Minute:Pages using code 𝐓𝐒𝐎𝐅 for a 𝟏𝟓% discount for life!https://minutepages.com/sign-up/ Become a 𝐓𝐒𝐎𝐅 𝐈𝐍𝐒𝐈𝐃𝐄𝐑 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? Email us at [e-mail] 𝐁𝐞𝐬𝐭 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐅𝐨𝐫 𝐖𝐡𝐨𝐥𝐞𝐬𝐚𝐥𝐞𝐫𝐬 𝐁𝐞𝐬𝐭 𝐀𝐥𝐥-𝐈𝐧-𝐎𝐧𝐞 𝐑𝐄 𝐒𝐨𝐟𝐭𝐰𝐚𝐫𝐞: https://reileadmachine.net𝐁𝐞𝐬𝐭 𝐌𝐋𝐒 𝐒𝐨𝐟𝐭𝐰𝐚𝐫𝐞: http://privytsof.com/ 𝐁𝐞𝐬𝐭 𝐑𝐄𝐈 𝐖𝐞𝐛𝐬𝐢𝐭𝐞 𝐁𝐮𝐢𝐥𝐝𝐞𝐫:   https://tsofpages.com/ 𝐁𝐞𝐬𝐭 𝐒𝐤𝐢𝐩 𝐓𝐫𝐚𝐜𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐞: https://tsofbatch.com/ 𝐁𝐞𝐬𝐭 𝐓𝐞𝐱𝐭 𝐁𝐥𝐚𝐬𝐭𝐢𝐧𝐠: https://tsoflaunch.com/ 𝐁𝐞𝐬𝐭 𝐃𝐚𝐭𝐚 𝐏𝐫𝐨𝐯𝐢𝐝𝐞𝐫: https://tsofdata.com/ 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...

Quit with the time expectation. It will ruin your dreams. It will ruin your drive. It will ruin your persistence and ambition. Just put your head down and do the work. Guys, if you listen to this, and I know I'm gonna be doing this, you will crush 2023.

You will get out of your mediocre life. You will get into the fast lane with the players that you want. You just need to go. Yo, yo, welcome back to this episode. Now, this episode is all about how to win in 2023. Now, I'm going to go into 2023 very bullish. As a real estate investor by trade or profession, I really think there's a lot of, I don't know, topsy-turvy that's going to come into 2023, but it's going to create a lot of opportunity. And so I'm going to be very bullish into 2023 as I am really every year. The key will be four or five or six steps that I'm going to

give you right here about how to win in 2023, right? And so the first thing that I'm gonna be focusing on for myself that I encourage you guys to be doing is to be optimizing each day. That's simplistic, but let me really tell you what that defines, how I define that for me. I wanna be the best version of myself each and every day, give 100% of myself for the things I'm trying to do. So for example, whether it is a deal, we're working a team meeting, a coaching call, I'm giving to my students,

a private coaching call that I'm giving to a private client, whatever that may be for the business, I'm going to give 100% of my attention because they deserve it in that moment. I'm going to make sure that I'm working on my fitness, I'm going to make sure I'm working on my diet and my health. I'm going to make sure that I put massive focus on my wife and on my child in this year. And if at the end of the day, I can go to sleep saying I gave it my all. I had an incredible day. I gave him extreme focus on the things that needed it. I enjoyed the day because I think that it's undervalued these days as people actually enjoying their life. And I don't mean going out and doing crazy stuff. I'm just saying, enjoy your life. You only have one of us. So every single day,

enjoy your day. And if I spend a great amount of time with my little baby, along with my wife, along with everything else I'm talking about, such as, you know, working out, having team meetings, having coaching calls, having private coaching calls and mentoring sessions. If I can do that each and every day, then I will feel like I have optimized my day to its absolute fullest. And if you do that, that means you're going to have an optimized week and then month and then year. You get the point. So I'm really focusing on optimizing each and every day going into 2023. Now, the other thing I'm going to be focusing on, I encourage you to do as well,

is create more relationships, shake more hands, kiss more babies, right? There is a direct correlation that I've been able to pinpoint from the relationships I have to how much money I've been able to make over the years. The more my relationships escalate and become bigger and better, the more money I make. Now, the old saying about your network is your net worth. I get that. And yes, it's played out. But the reality is this, I am constantly leveling up the people that I network with, to the point where in 2022, the market started to shift at the end of the year, the last 90 to 120 days, there was all those interest rate hikes in the real estate market really shifted. So what I did is I

personally started reaching out to everyone I knew in the space that had success and wanted to understand how they were pivoting. What were they were doing? How are they going to be changing? Were they still buying? You know, were they still flipping or are they only going to be wholesaling? Were they still going to be buying and holding? What lenders were they going to use? I really put a massive focus over the last 90 to 120 days on my network. And that is why I did not get as hurt as many other people did. I really put a focus on the people around me and how I can implement some strategies

or systems or tools into my business of real estate so that I can buy myself some runway, so that I can create some consistency. I might have some of my volume might have gone down, but by no means did I get hurt because I adapted really quickly based around what my network was able to teach me, say to me, or show me, right? I encourage all of you to focus on building more relationships, right? Whether that means you're paying for them, like joining a mastermind, paying for a coach, or what have you, which by the way, I highly encourage. I myself in 2022 spent another $115,000 joining masterminds, investing in coaching,

just myself, I'm sure I'll do it again in 2023. So paying for those relationships is not a bad thing. Not at all. In fact, all of us do it. Now, the key will be is listen to those relationships, right? Really take the relationship and really find the value of that relationship, right? It does no good if you're surrounding yourself by major players or people that are more successful than you if you don't actually take their advice. So you have to listen to the people as well. So 2023, you need to level up your network, period, end of story. So if you need to go to REIA meetings, if you need to go to Lunch and Learns, if you need to just reach out to agents, investors, buyers, whatever that may be, whatever business and vertical that you are in, you need to be leveling up your relationships.

And I highly encourage being a part of masterminds, joining coaching programs, having a one-on-one mentor. Those are key components of my reasoning of how I've been able to continue to grow, not just in business, but in revenue and income as well, is I really put an emphasis on these relationships. The third thing that I'm going to be focusing on, and I encourage you to focus on is really deciding what I actually want. What do you actually want? Now, as someone who does real estate full time, you know, some people are going to say, how many deals do you want to do? How much money do you want to make, etc cetera? You know, so for me, it's a little unique in what I want in terms of, I want to be building income and wealth at the same time. Well, while building wealth,

it actually strips the income because instead of making money on that rental, I'm actually going to be buying it and keeping it in the income is much smaller, but my wealth accumulation starts to grow. Now there's a plan there, but I think you need to be focusing on what are you actually wanting? Get very clear, crystal clear here and make a decision to go for it. You see a lot of people just say, or they'll even put a vision wall up or they'll, they'll watch the movie, the secret, which is a great movie and a great concept, or they'll just think, you know, if I think happy thoughts, I'm going to shit gold. Well, the reality is you need to

actually decide what you want. And part number two is commit. That is the next thing I'm going to be doing. And I encourage you to do. Make sure you are committed to the decision you make. Now, commitment is a funny thing. People say that they're commitment, but they're willing to back out of it at any time when the going gets rough, right? They're willing to back out of their commitment. So I'm gonna be committed to the decisions I'm making

for what I want, right? So the idea here is how do I want my 2023 to end up? What do I want that to look like? Get crystal clear on that vision, decide to go for it and then commit. And if you do those two components, you're going to have an incredible year because you won't quit. Listen, the saying always goes, the only way you can lose is if you quit. You can never beat someone who's unwilling to quit. Those are great sayings, but they're just true.

So this isn't sitting here and I'm trying to give you some sayings that are here to rev you up. It's just actual reality. If you're okay with being okay and living a mediocre life, then live a mediocre life. Be okay with it. Don't bitch. Enjoy your $100,000 a year and just live that life. But if you want something more, if you want more money, more wealth,,000 a year, and just live that life. But if you want something more,

if you want more money, more wealth, more of a lifestyle, more time with your family and friends, then make a decision and commit to it. The next two points here are basically hand in hand. You must take massive action and you must be willing to be uncomfortable. See, most people decide for something bigger than where they're currently at.

That's usually the smart thing to do. Then they have to commit to it. Now it comes down to taking the actual action to achieve it. This is where most people actually fail. This is where most people quit. It's because the action that they are taking, A, is uncomfortable. It is difficult. It's not something they're used to.

They haven't yet invested into a mentor or a mastermind or something to teach them the right systems, tools, processes to achieve it. So they end up quitting because they don't really know even where to start. You must take massive action over and over and over again. I have a saying, right? Done is better and perfect, but not only that, perfect is the enemy of done. You need to get going regardless of you're doing it right or not. Because through not doing it right, through making mistakes, you will actually become a lot better and start to achieve. Where people fall down is they make a couple of mistakes.

They feel like they're a failure and they're not good enough. And then they just quit because they don't want to be ridiculed by their friends, family, or whoever that they're a failure. Well, you can't fail if you don't quit. And if you don't quit, you'll never lose. So you just got to keep going. And being uncomfortable is going to be part of that. Get ready and used to being uncomfortable because you're going to be doing things you

have never done before. Just the simple concept of trying to paint this picture of 2023 that is bigger, more successful, more money, more time with your family than you've ever had. Well, you've never had it. So it's going to be uncomfortable. So get used to being uncomfortable and pushing your own limits because that's how you're going to grow your bank account, grow mentally, grow financially, grow in wealth, grow in happiness, grow in joy. That's how you grow is by pushing that envelope

over and over and over again, by taking action and committing and making a decision. And my last point, which I actually believe is probably the most important. So hopefully you guys have stuck around. The last point is stop with your improper time expectations. You know, people will talk about how improper expectations is why people quit or fail or, or whatever the case. I actually have reframed that for my tribe. I've said it's

improper time expectations. See, as a real estate investor, it took me nine months to get my first deal. In terms of my first million, it took me several years to make my first million. So the point here is if you are willing to push and grow and be stretched to somewhere you've never been, then don't put a timeframe on it. So a lot of times I coach my students to say, hey, you want to get your first deal in 30 days or 60 days or 90 days. But what if I told you in the next 20 years, you're going to make more money flipping deals and build more wealth buying and holding residential real estate than you could have ever imagined if you just never give up, keep your head down and do the work. What if I told you that was guaranteed? Well,

the difference here is people have a time expectation when they want their first deal or where they want their first million or when they want their first or when, when, when, when, when. That is the key word. Quit the improper time expectations. You see, I want 2,000 doors, 2,000 rentals. I'm nowhere near it, friends. But I'm not going to give up until I get there. Now, if it takes me a year, five years,

10 years, or 20, I don't care. You see, I don't have this time expectation that is going to change anything. So I'm just going to consistently try to buy as many rentals as I can and try to get to this number of 2000, which to some level is an arbitrary number. Do I want 4,000? Of course I want 4,000, but I believe I can get to 2,000, especially in the next 20 years. In the next 20 years, I'm 61 years old. At that point, I don't have to do anything I don't want to anymore, right? So that's the point is don't put an improper time expectation. And that means you won't get discouraged because you won't have this expectation of something happening in a short amount of time.

And if you're not discouraged, then you probably won't quit. And if you don't quit, you never fail. And you know how the story goes from there. So for 2023 people optimize each and every day you were given, you must be thankful and grateful that you were blessed to walk the earth for another day. Optimize the day the best you possibly can each and every day so that when you lay down at bed at night, you feel like you are a success that day. Two, focus on your network. Build your network.

Grow your network. Level up your network. If you do that, you will level up your life. Three, four, and five, decide, commit, and take action. Number six, you're going to be uncomfortable doing all of this, but you must make a decision for what you want. Stop being okay with being okay. Commit to the result that you're trying to achieve. Get clear on your vision. What are you trying to do? What are you trying to build? Commit to it. Take massive action doing it. Be okay being uncomfortable because all that action is going to be new to you. And lastly,

lastly, quit with the time expectation. It will ruin your dreams. It will ruin your drive. It will ruin your persistence and ambition. Just put your head down and do the work. Guys, if you listen to this, and I know I'm going to be doing this, you will crush 2023. You will get out of your mediocre life. You will get into the fast lane with the players that you want. You just need to go. I wish you all the best. I love you all. Hopefully you do exactly what you need to do to achieve these goals. Go back, re-listen to this over and over again. If you haven't yet, go make sure you subscribe to do to achieve these goals. Go back, re-listen to this over and over again. And if you haven't yet, go make sure you subscribe to my YouTube, go to justincolby.tv, subscribe. I'm encouraged of 2023 for all of you. It's going to be a rocking year. Let's go.

See you on the next episode.