The Science of Flipping - The 2 Things That Actually Get You Deals (Not Another $20K Course)

Episode Date: March 28, 2025

Want do to deals TOGETHER? Join our community at www.reilive.co In this episode, I get real with you about what it actually takes to succeed in real estate investing — and spoiler: it’s not dropping $20K on another coaching program. After nearly two decades in this business and coaching thousands, I’ve realized that success comes down to just two things: having real conversations and making real offers. That’s it. I share why most new investors fail, how fear and unrealistic expectations sabotage progress, and why I built REI Live to do the work with you, not just talk at you. If you're serious about getting your first deal — or your next one — this is the roadmap.   -- Thank you to our partners for supporting today's episode! Empowered Investor LIVE! - Take control of your financial future with top real estate experts, builders, lenders, and investors. Join Us at Empowered Investor Live – April 4-6, 2025, in Irvine, CA! Spots are limited – grab your ticket now! 👉 Get Tickets Joe Homebuyer – Want to scale your real estate business fast? Get expert training, weekly coaching, and a proven system to close more deals. High achievers even qualify for luxury rewards! Learn more at joehomebuyer.com. 📊 Quality Skip – More accurate data means more deals! Get premium skip tracing for just 6 cents per match and connect with the right sellers every time. Use code "SOF" for 10% off at qualityskip.com! Mando Whole Body Deodorant – Stay fresh and confident with Mando's doctor-developed, aluminum-free deodorant. Clinically proven to block odor for up to 72 hours, it's safe for use anywhere on your body. Use code 'COLBY' for $5 off a Starter Pack! --   About Justin: After investing in real estate for over 18 years and almost 3000 deals done, Justin has created a business that generates 7 figures in active income through wholesaling and fix and flipping as well as accumulating millions of dollars of rental properties including 5 apartment buildings, 50+ single family homes, and 1 storage facility Justins longevity in real estate is due to his ability to look around the corners, adapt to changing markets, perfecting Raising private capital, and focusing on lead generation which allows him to not just wholesale and fix & flip, but also accumulate wealth through long term holds. His success in real estate led him to start The Entrepreneur DNA podcast and The Science Of Flipping podcast and education company, and REI LIVE where he’s actively doing deals with members. He has coached and mentored thousands of aspiring and active investors over the last decade. Connect with Justin: Instagram: @thejustincolby YouTube: Justin Colby TikTok: @justincolbytsof LinkedIn: Justin Colby

I've been doing this podcast since 2013. And I want to keep giving you the secret sauces, what to say, how to say the strategy, the techniques. Right now, the secret sauce is to get in front of as many people as possible by calling them, having conversations, and figuring out what is their motives of having interest to sell. Welcome back the Science Flipping Family to another Solo-Dolo episode.

Today I have something really important to tell you guys about your journey in success or toward success here in the real estate investing space. And so bear with me because I really want you guys to have long-term success, not just short-term success. So I'm gonna map out really what it's gonna take for you guys to find your way to create income and cashflow with active income,

then also to start building out some wealth along the way. So one thing I have seen after well over a decade of teaching people and over 18 years of actively doing this business, is I have seen too many people who come into this space thinking that because they pay to coach 10, 15, 20, $25,000, they're gonna have rapid success. Well, I hate to break it to you,

but 99% of the time that is not the case. There is success and you can have success, but just because someone is teaching you doesn't mean you're gonna immediately find that success. Now let me break that down in two separate segments for you. For the better part of a decade I was one of those coaches who went out and charged $10,000, $15,000, $20,000, $25,000 for coaching. Since January, 2025, I've actually changed that. If you go check out reilive.co, reilive.co, it is actually a membership community that every day we go live two to three hours a day, calling homeowners, calling agents, analyzing deals and making

offers and it's only $200 a month. It's $200 a month because I decided I wanted real success from my members and not just to get rich off of them but to get rich with them. So in REI Live, we do JV splits, everything is 50 50. It's $200 a month and we have six calls a week, two to three hours a day really doing deals. Now that is a big difference between how I've been a coach for over a decade. For over a decade, I've been charging 5 10 15 20 $25,000 for coaching. Now

coaching teaches you what to do. It gives you the game book. It gives you the plan. It gives you exactly the recipe and the ingredients, but you still need to be able to make the dish. And that is what I'm speaking to. That component is where I find more people get frustrated and roughly 99% of the real estate investing people with interest who are aspiring

to be a real estate investor, they quit, they give up. Because just because you have the recipe, just because you have the ingredients in the kitchen, it doesn't mean you're gonna make a great meal. You need to put it in the right order, you need to be able to have the right measurements, et cetera, right? And so what I've really done

and what I really believe in now more than ever is this idea of being able to take massive action so that you can find that level of success. And I didn't wanna be the guy that just told you what action. I wanted to do it with you. So moving forward, if you have any interest in REILive.co, REILive.co, um, become a member, join us. We are literally doing calls each and every day, two to three hours a day,

analyzing, comping, making offers live in real time. Now I say that not just to plug that because honestly $200 a month isn't some massive financial needle mover for me but it is because I've learned one thing the amount of success I'm getting from the members in this community and we have about a hundred versus the amount of success that I have seen others get by paying myself or others, other coaches is drastically different. I'm seeing members get success within the first week, two weeks or even a month.

They get their first deal. They get the first check and that creates certainty and that creates confidence. The challenge is if you have improper expectations and you're expecting that, especially because you cut a big check, especially because you spend 10 grand, 15, 20 grand to some coach, but then they aren't doing it with you

and they're just telling you what to do. Again, it's like giving you the ingredients and giving you the recipe. But you don't know the measurements and you don't know what order you should be putting these ingredients and what order you should be baking the goods right and then not doing it with you that is where it breaks so now let's get to this level of success as many you know I'm constantly on the move, juggling multiple businesses, traveling, and ensuring I get my morning workouts in.

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Go to empoweredinvestorlive.com now. Empowered Investor Live, invest smarter, grow faster, transform your future. Success is a journey, right? And so for you listening that might be a little bit newer or never done a deal, I would tell you most people don't give themselves enough runway to actually be successful. Instead, they start judging themselves on the amount of

success they find immediately, like within 30 days. And they start thinking themselves whether this can happen, whether you're doing the right thing, whether it's working. The secret to that is if you have someone doing it with you, you don't have to wonder whether it is working. You won't have to wonder whether you're doing the right thing. It just is getting done.

You will see it. Now the mistakes, the challenges, the offers being rejected, the hearing no's, the canceled deals, that is all's, the canceled deals. That is all part of the journey towards your success. Now for some of you, I don't know everyone's success level like or what they want or what they would define, I should say. What success is for them. I can tell you most people, if you're aspiring,

if you're trying to get your first deal, most people would find success to be able to get a deal, your first deal. And so in that sense, then it really is a function of you need to understand, are you actually doing the thing that can get you the deal? So I would ask you, audit what you're doing. How many phone calls to homeowners or agents are you making? And then how many offers are you giving? There's really only one thing that can get you a deal and that's the offer. So if I ask you how many phone calls you're making I'm not asking you to go be a cold caller I'm

not asking you to turn your business into cold calling. What I am doing is I'm saying hey you got to have some people to talk to you got to talk to some people agents or homeowners and then you need to make that offer. The offer is the thing that's gonna help you find that success. And so if you're sitting there saying, oh, I paid so and so 20 grand, I paid so and so five grand,

I paid so and so eight grand, but I'm not finding success, then the thing I'll ask you is, are you actually doing the thing that they are telling you to do? Are you actually calling the homeowner? Are you actually calling the agent? And then secondly, are you making the offer?

Now, some of you may not be doing this because of one big catastrophic pain point, and that's fear. And I think we all can recognize many people, the vast majority, have some level of fear that goes along with taking action. That same thing, that fear is actually why you need to do it. Because the fear is made up in your own head. Right? The analogy is false evidence appearing real. You create this fear of hearing no or getting hung up on

or someone cussing you out or whatever this fear may be, rejection. And so you get timid, right? The other fear is I'm not doing it right. I don't want to look stupid. I don't want to sound dumb. That's the other side of this fear. And this is again without overly trying to look stupid. I don't want to sound dumb. That's the other side of this fear. And this is again, without overly trying to plug it, although I believe in it so much, I feel obligated to keep telling you.

This is why I created reilive.co is I want to remove that fear and embed certainty and embed confidence by doing it with you. You don't have to wonder what to say. You don't have to see, uh, if you're comping it, right? You don't have to figure out in my underwriting, the remodel correctly. I'll just do it with you. That is why I created it because that fear you pay a coach, 10 grand, 15, 20 grand, the fear or uncertainty paralyzes people.

And then they don't do the simple two things that they need to do to go get a deal. First, make the call. Second, make the offer. Those are the two simple things that you need to do to go get a deal. That's it. It's as simple as that. But your fear of uncertainty, your fear of are you doing it right? Your fear of getting hung up on your fear of someone cussing you out, your fear of looking silly or stupid that paralyzes you. And so I'd encourage you. It is one step at a time. So if you're not a part of REILive.co, I tell you, join it, check it out, out join it be a part of this community as a game changer

but secondly if you do have a coach if you have paid someone then you need to do the one thing each and every day so I call it the big six okay the big six can help you overcome some of this fear what if your real estate business ran like a machine? With constant deals, higher profits, a roadmap to financial freedom, that's exactly what we help entrepreneurs achieve at Joe Homebuyer. We provide the sales, negotiation, and marketing training that separates top investors from the rest. But it's more than just education, it's execution. You'll get weekly strategy calls, expert lead masterclass, deal reviews in real-time

business coaching so you can scale with confidence. Plus, you'll be surrounded by a community of self-driven, winning entrepreneurs who push each other to new heights. And for those of you who take this production to the next level, you'll qualify for our exclusive President's Club where you'll be rewarded by luxurious vacations, recognition, and high-level networking. If you're serious about turning your side hustle into a business that thrives, general home buyer is your path to scaling fast and winning bigger.

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process ensures you never miss a motivated lead thanks to real-time updates and unmatched data quality. For a limited time use coupon code SOF for Science of Flipping to receive an extra 10% off. Let QualitySkip empower your business. Experience the QualitySkip difference. Visit QualitySkip.com now. So the Big Six are three non-negotiables and three most important. And every night, yes, I said night, you want to write down your big six. You want to write down the three non-negotiables that you absolutely 100% must do tomorrow. Okay.

It is not negotiable by definition. That is why I'm telling you to name it that way. Okay. And then you also want to write down your three must do's. And if you do that, you have a shot at actually achieving some of them the very next day. Okay? The very next day, you can wake up and you can say, Hey, how am I going to get these deals?

How am I going to make these offers? Who do I need to call to make the offers, etc. So it makes it a lot easier for you to be able to do those things. And then once you're able to do that, then it's one at a time. Do not over complicate this, do not take every agent or your entire list of sellers and try to call them in a given day. Do not think you need to. You just need to go out and perform and that is one call at

a time. Here's a little secret tip that I've encouraged people to do that do have this level of fear, uncertainty. One of the things that I encourage you guys to do is make a call or two to the homeowners or agents. Have the conversations, mess it up, do your best, and then say, okay, and go take a break. Go grab a cup of coffee, go take a tea break, a pee break. Go do something to get refreshed. Whether the calls went great or the calls went terrible, go get refreshed.

Now, when I say make a call or two what I'm saying is go have one or two conversations don't just stop at making two calls and go take a break have one or two conversations then come back and do it again and as you have that repetition and you keep coming back and doing one or two conversations, okay, go take a break. You break up the monotony, you break up in your own head of the uncertainty and you actually can kind of audit what you said, how you said it, what they said, how they responded and what you could have done better.

And if you do that every day, it'll start to remove this fear, this fear of unknown, making mistakes, being judged, getting hung up on. You'll remove it all. Okay. And that will be some of the best tactical strategies you guys can start adhering to. If you can do that one simple thing, you'll actually start making more phone calls and making more offers. Now, the next thing is this level of success, right?

If you don't give yourself enough runway to make these calls, meaning if you just say, okay, let me see what happens in, you know, 30 days, 60 days, 90 days, you may never achieve the level of success. How do I know that? Because it took me nine months to get my first deal. Nine. So if I would have given up any day before I got my first deal, I would have been a failure. I would

have quit. It's the only way to fail. But if I just said I'm going to make this happen no matter what, no matter when, then I can find a certain level of success. And that is what it's going to take is to remove your own self-limiting belief around the time, right? Your self-limiting belief, if that's the right way of saying it is, you know, I need to be successful by the first 30 days, 60 days, 90 days, or I'm a failure or this doesn't work, or the coach sucks, or the economy, or the interest rates. But if you give yourself enough runway, then that also gives you enough chances to reiterate.

Iterations, what's going to really help you here. Adaptations, innovations, these are three really big words because the market can change and shift. For those of you who have been around for long enough, you realize the last decade has been amazing, minus the last maybe 18 months. If you were fogging a mirror, if you were breathing, you were able to make money in the last decade. Right? But now things have changed in the last 18 months. Now we need to pivot. Now we have to change what we're doing and how we're doing it.

And so we're innovating, we're adapting, right? We are trying to figure out what is going to be the best runway. So you might be asking, well, Justin, what is the best running? Well, not giving up and talking to more and more people. Some of you and most of you probably don't have much of a marketing budget. So I'd encourage you to be talking to agents and or virtually driving for dollars. Drive around. Do it virtually over Google Maps or physically get in your car and drive around.

Find those properties that are maintenance deferred. And if you can find enough fortitude to innovate, to adapt, right, to experiment, and keep going to figure out what does work in today's economy, to figure out what does work in today's financial place, and then what you are good at, how much time do you have, How many calls did you make? Again, you need to be measuring your output.

Don't criticize yourself if you're not actually doing the work. Don't criticize the coach and don't criticize anything. Look in the mirror, right? If you can look in the mirror, you might realize like, I'm actually not making the amount of calls I need to be making. Right? That's the challenge is that. And so I want you to go out today, this week, this month, this year, and really

look at what your ability to push forward is, and then give yourself enough runway to fail and get back up and keep going. Fail, get back up and keep going. Fail, get back up and keep going. And if this is hair on fire and you need to be successful in the next 30 days, you're going to have a really big challenge that you won't be able to fulfill because there has been no overnight success. Not one person you've ever looked up to, listened to, built this thing in 30 days, 60 days or 90 days, they've built it over time.

listen to, built this thing in 30 days, 60 days or 90 days. They've built it over time. And if you give yourself enough time, you will ultimately be successful. If you don't quit, give up or make really stupid decisions. There's mistakes, right? You might lose some money on some deals. All those things might happen, but you need to give yourself enough time to be ultimately successful. I'll give you a great example. I've lost millions of dollars in a couple real estate dealings

over the last 18 years. Millions. I've just made tens of millions of dollars more over that same time. So are there mistakes? 100%. Is every anyone invincible to making those mistakes? Absolutely not. Are you going to make mistakes? Absolutely. So then the question is, do you have the fortitude to keep going, to

keep adapting and innovating? And if you do, then you're going to keep finding the way to be successful. For all of those out there who say, Justin, just give me some tactical things from this podcast right now. Start calling realtors. Realtors have motivated sellers. Don't question me. Just go do it because your job now is to find a number that works for you and works for

the seller. But the seller's motivated. Okay. You just need to be a good negotiator and need to be able to show value and figure out that works for you and works for the seller. But the seller's motivated, okay? You just need to be a good negotiator and need to be able to show value and figure out the right seller who has enough motivation. That's what you need to go do today. Secondly, I tell you, go become a member of reilive.co.

We do this each and every day, two to three hours a day. We call these agents, we call the homeowners, we negotiate the deals, we comp the deals. You don't have to do it, you don't have to second-guess it. It is a comfortable place for you to learn and do deals. I'd highly encourage you guys to check out REILive.co. If this has given you a little bit of help on your mindset, on the thought process of what it's actually going to take to be successful, then I'd like you to share this with two of your friends. If this can help someone break into this industry and real estate investing, if

you feel like this is something that has helped you, then I would like to say you are obligated to share this. Cause I want to keep pouring into each and every one of you. I've been doing this podcast since 2013 And I want to keep giving you the secret sauces what to say how to say the strategy the techniques Right now the secret sauce is to get in front of as many people as possible by calling them Having conversations and figuring out what is their motives of having interest to sell. And I choose realtors right now for most of you.

Now, if you have a marketing budget, you could obviously lean into that. But for those that don't, then I would tell you, you need to be able to be smart about it and start working with agents. So again, I appreciate you guys if this helps, share with two people, and we will see you on the next episode of The Science of Flipping. Peace.