The Science of Flipping - The Real Truth About Coaching

Episode Date: August 5, 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 on this episode, we are going to be talking about what so many people believe is not the right answer which is coaching before you get all caught up into this what i am talking about is people genuinely believe that they can find enough information online such as youtube and podcasts just like this you might be watching this on my YouTube channel, youtube.com forward slash Justin Colby. You might be listening to this episode on iTunes or Spotify under the Science of Flipping podcast. But so many people, maybe even yourself, ask me the question like, why do I need coaching? I can just go find this online. And here's my ultimate answer to everybody.

You get what you pay for. And so let's dive into this because a lot of people have over the years, you know, talked to me about coaching and how they can't quote unquote afford it. And I will stop everyone in the tracks right now and is if you don't have a coach and you are not achieving the goals that you want to achieve then you know the right answer

coaching actually gets you there further faster right so whether you use the Disneyland example where you buy the VIP ticket that you know gives you the escort so you walk right in front of the line you don't have to wait in line for two hours and you get on the ride yeah it costs you money but now you just save two hours of your life right so for someone like me two hours of my life is really valuable so what i spend more money to get on the ride immediately so i have more time in my day a hundred percent or if you just want to use the example of any athlete you could possibly imagine from michael jordan to to Tom Brady and their ability to practice over and over again the right way versus what you think the right way would be, you can see how in practical terms that takes you that much farther. So why would a real

estate investor with all this information or potential real estate investor, I should say, with all this information online, on our podcast, on YouTube or otherwise, why would they ever invest in coaching? So let me give you the answer. And the answer is because just because you have a blueprint or a recipe, it doesn't mean you know how to make the meal, or it doesn't mean you know how to make the meal or doesn't mean you know how to build the house. Right? So a lot of the times I will actually use this example of you know how to make lasagna, pick a meal, you know how to make it, you know, it needs cheese, you know, need sauce, you know, needs pasta. And you might even have a recipe right next to you that you can

actually follow. But until you have done it multiple times, you are probably gonna screw up a ton. And in real estate investing, wholesaling, flipping, you name it, if you screw up, that means you're probably wasting money. That means you're probably torching money on marketing strategies that don't work anymore, or you're even spending money on marketing

and it's bringing in leads but you don't know what to say. Or maybe you're actually going out there and you're opening up escrow and contracting properties and putting in earnest money without having buyers as a wholesaler. Or maybe you're a flipper and you don't even have your contractor to give you the estimates that you're estimating wrong. So you don't know exactly how to budget for rehab. I can use so many examples of why someone would really want or need a coach but their answer is you need to believe that that coach is someone that can get you to your end goal right so any athlete again let's just use Tom Brady is arguably the best quarterback of all

times in the NFL. Why does he still have coaches? Well, because there's different ways to take three-step drops, five-step drops, seven-step drops. There's different ways to read different defenses. There's different release points of the ball depending upon whether he is scrambling or if he's sitting in the pocket. And then ultimately, the defenses that are thrown at him are constantly changing.

So a coach can help him adjust real time to execute to the best of his talents and ability that he possibly can. Why did Michael Jordan have a shooting coach, a dribbling coach, a strength coach, and so many other different types of coaches is because all of those in silos need their own coach because they're all different verticals if you will and the same would be said

to have anyone that is looking to get into wholesaling real estate investing in general you have to have to have to have a coach you have to believe it before you see it and I don't care if it's me yes I offer coaching if you are interested in me coaching go to the science flipping.com fill out a form it's totally free some of my top advisors will speak with you about whether I'm the right fit for you as a coach. But even if it's not me, there are a lot of great coaches out. Well, there's some great coaches out there and I will vouch for them because I know they're the real deal. They're practicing what they preach. They're actively doing real estate deals and they're actively helping people achieve those goals. But you really have to take a step back here, right? Why would someone hire Tony Robbins, for example?

Well, because they're not happy in life. They know they can do more. They know they can be happier. They know they can have more successful in their marriage, their success in their marriage or business or otherwise. Why would anyone make any investment into themselves if they were totally happy, had all the money in the world? They wouldn't, right? Totally happy. 100%, one out of 100,

they're 100% happy, which no one is, right? And so there's always ways to get better. And so you need to take a look at yourself. You need to look in the mirror. And you need to understand that this is not a cost. This is an investment, right? So when you're looking at trying to get to the next level, you need to look at it from a business perspective and realizing I need to make an investment in myself and in my business so that I can get to a further down place a whole lot faster now why do I

use the word investment well first of all the IRS even says it's an investment is it's a tax write-off right education is a tax write-off the next thing I would tell you is you can get an ROI a rate of return on your investment right meaning if my coaching costs a certain amount of money, right? If you invest that amount of money in my coaching and then I teach you how to get $10,000 or $20,000 or $100,000 or $500,000 after you make that investment, then you have a rate of return based around your investment. It is a true investment. And by the way, here's the key to coaching. It's like learning a trade. Once I teach somebody, once a coach

teaches somebody, once your mind expands, it can never contract. You can now go do this in any state, in any market forever. But here's the challenge I hear from people well I can just look it up online for free I can just get there for free well how far is free getting you take a look in the mirror that's all I would tell you right you are currently doing it for free are you holding yourself accountable are you doing the activities that are revenue generating activities each and every day and then measuring your results each and every day? I would tell you no. But too often I hear, well, I can't afford that.

Well, that's because you are not thinking about it correctly. Quite literally, you can't afford not to. If you don't, then you're stuck in the same place you have always been. So I ask you, what are you going stuck in the same place you have always been so I ask you What are you gonna do differently to achieve different results? And then why in hell if you are just getting in to an industry that you know very little about Would you think it's a good idea to do it without having any guidance or coaching at all? Why would you think that is a good idea?

These are the questions I pose people when I have challenges about people investing in coaching. And their answers are always the same, which ultimately comes down to, well, I just don't have the money. Well, I'll tell you this. It's never a lack of resources. It's a lack of resourcefulness. Let me tell you my story again, just in case you guys don't know it. I started back investing in 2007. But before that, I was a realtor back in 2005. Well, guess what? I was a victim of the market crash. I lost my home to foreclosure. I was sleeping on a couch. And I was actually well, and actually, a repo man took my car. I didn't even have a car.

I had no income sleeping on a couch. I lost my home to foreclosure. But guess what I did when I was presented the opportunity for coaching? I actually borrowed $25,000 from a friend. And yes, this friend is a saint and not everyone has a friend like this, but follow me here. I borrowed the $25,000 as an investment in my belief that I could do this. And obviously 14 years later and 1,800 flips later, I could say I made good on my promise to be successful. But too often people will say, well, I can't afford that, but they'll go out for $150 dinner

with their spouse on a Saturday night, or they may be driving a really nice car, or they just bought a brand new pool table, or, or, or, or, then I would challenge that person and say, what are you going to sell so that you can make the investment to change your life financially? Right? Where are you going to find the resources, whether it's friends, family member, credit cards, or selling items to make the commitment to yourself that you're going to go achieve? And I can't make that decision for you or for anybody, but it is always about sacrifice. What are you going to sacrifice? Again, use the sports analogies, Kobe Bryant, Michael Jordan, Steph Curry. These basketball players are known for doing way more than anyone else is actively doing.

They go to the gym to have practice prior to practice. Steph Curry is known to put up a thousand shots before practice even starts. He's the best three-point shooter in the world. He's a two-time MVP now. He's won three championships. He does what other people won't, and he sacrifices for it. Michael Jordan, the same.

LeBron James, the same. Tom Brady, the same. Name a successful athlete, and I'll show you someone that sacrifices. Now, other people might say, well, I have credit cards, but I don't want to use credit cards because they follow,

I'm even blanking on his name right now. I want to say Dr. Phil. It's not Dr. Phil, but they follow, man, bald head, radio. I'm blanking on him. But I think you guys know who he's saying. He's a financial guru. He's garbage because he says you shouldn't have credit cards. I totally disagree. You name me a successful business person and I will name you someone who has massive amount of

leverage. All companies, all successful business people use leverage in a very smart way. So if you're sitting there, well, I don't have the cash, but I might have credit cards. Then I would tell you, you making that investment in yourself to get an ROI so you can pay off your credit cards and then create an income that you've never experienced in your life. That is the best investment you can make and that is the best use of leverage you possibly can. Now, you using your credit card to go buy a $2,000 Chanel bag or you using your credit card so you can buy, I don't know, a $2,000 pool table, that is a bad use of credit. I need people to understand that it's a mindset.

It's a belief system. And if the best in the world can hire coaches, then I'm absolutely hiring coaches. Last year alone, I spent $85,000 on coaches. So far this year, I've spent 50 and the number is gonna keep going. It's not because I don't know what to do per se, it's because I always know

someone else knows something I don't. I can always level my game up. So guys, I've heard it plenty of times, but I challenge you to re-watch this video, share this video with someone that needs to hear it. Re-listen to this podcast again if you are not watching my podcast on youtube you should go to youtube.com forward slash justin colby go subscribe because these audio versions i have a video version on youtube

go to youtube and watch them engage with me comment below let me know your thoughts and hopefully this is going to change the way you view this whole thing. And hey, if I am someone you want to coach you, then go to thescienceofflipping.com and fill out a very simple free application and my top advisors will get with you and we'll fill out if we're a good fit. So with that said, guys, that is the end of this episode. I appreciate you all.

And I'm going to see you guys on the next episode. Peace.