The Science of Flipping - The Secret to Thriving in Real Estate: Embrace Certainty through Action

Episode Date: August 14, 2023

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Yo, yo, welcome back, Science of Flipping community. I am your host, Justin Colby. As always, this episode is brought to you by MinutePages.com. If you're a real estate investor or an agent and you need professional credibility on your website, go check out MinutePages.com for an inexpensive way to be online in generating business. Now, this episode, as the title says, if you do this one thing, it can help you generate more deals. The reason why this episode is even here is because I am

coaching a group of newer investors that I find this one thing to be one of the biggest, if not the only challenge they really have. It's not going to be an answer you guys typically are thinking I'm going to give here, but it's certainty. They lack the certainty that they're going to actually be able to do this. And why this is important for me to shoot this episode right now is because I need to help others relate to the fact that even though I have done this business for 15 years, even though I have done well over 2,300 deals and counting, even though I am building a multi-million dollar portfolio, even though, right, all the even those, I too go through uncertainty. I too have those same feelings. I'll use a very real example. We are buying a 21 door package. And what that means is it's not an apartment building. It is 21 single

family homes in a package for millions of dollars. We're buying it to keep in my rental portfolio. That is an experience I have never done before. It is giving me a lot of uncertainty. It is questioning whether I know how to do what I know how to do. But here's what I'm focusing on. I'm focusing on being the man and business owner that I'm capable of. I know I can do this. I just have to go do it. Certainty can come to you from audiobooks, podcasts such as this, but mostly certainty comes through experience. And if I'm talking to you and you are a new investor, stay on this episode,

rewatch this episode. If you're watching it on YouTube, you can go to justincolby.tv and actually watch this episode. But it's important you understand that certainty tends to be created through going through an experience, right? You can only connect the dots looking backwards. And so I too have times, moments, weeks, months of uncertainty. I'm growing in both my real estate business and my coaching business at a pretty rapid pace. And so am I certain about all the decisions I'm making? Am I certain about the people I'm bringing on board? Am I certain about the properties?

Am I certain about all these different things? The answer is no, I'm not 100% certain on several different things, but it doesn't stop me. It doesn't prohibit me from doing the things, right? And what I know about newbies is a lot of your lack of doing is because you have a lack of certainty, which I can appreciate that. Now, I myself, I'm a coach. And if you have any interest in coaching, you can go to justincolbycoaching.com, fill out a simple application. I'm happy to help show you my three-point strategy, right? The find a property, analyze a property, and exit a property. Exit can

mean wholesale, fix and flip, or buy it as a rental. Now, it's a three-point strategy. It's worked for me for the last 15 years. I know it can work for you. Coaching is part of it, but the other part of certainty is actually taking massive action, right? And so I'll boil it down to what I believe the five success principles are. Okay, so hopefully if you're near your desk or near a pen and a pad, you grab that or you could pick up your nifty phone in the note section. The five success principles are decide what you want and who you need to be to get it. Decide what you want and who you need to be to get it. Decide what you want and who you need to be to get it. Number two is commit to that.

Number three, take massive action. Number four, be extremely uncomfortable. Now here's where the rubber meets the road. And number five, remove your time result expectation. Now, let's go to number four real quick. That's really where the newbies are. They're really uncomfortable. You're having a tough time. You're just uncertain. So, I personally have very lofty goals in my real estate company.

And I know I'm only going to get there by doing things I have never done before. So a great example of that would be the storage facility that I bought earlier this year, the 21 doors I'm looking to close in North Carolina. Now these are deals I've never done before. I don't have any experience in doing, but I kept moving forward to do them, which will give me the experience to create the certainty. Now, am I uncomfortable in those examples? Am I uncomfortable going through those processes? Absolutely.

I am doing something I've never done before to achieve something I've never had. I'm going to be uncomfortable the whole way through to the point with this 21 door package we're buying. Um, we're ready to close, and all of a sudden, out of nowhere, the seller gets greedy and wants another couple hundred thousand dollars, like literally the day of close. Now, I've kind of had that happen on a single-family home, and they usually want an extra five grand or 10 grand max. I'm dealing with several hundred thousand dollars, like north of 250, right? So that is a decision that is not easily made, right? Five grand, 10 grand might be an easy decision.

300 grand, that's not an easy decision. So I'm going through these things. We're working with my team. I'm even trying to figure out the financing component of that. Do I have to come out of pocket? Do I have to redraft paperwork? All these experiences are happening real time on one purchase of 21 separate homes. But what I do know is by going through these experiences, I'm going to gain

confidence and I'm going to gain that certainty. Now it is all fine and dandy to go listen to my guy Ed Milet or Tony Robbins or anyone that you believe can help you help self-development. I love self-development. I'm huge on self-development. But what really creates certainty is taking massive action. Now, that is what creates the uncomfortableness, right? Being uncomfortable is because you're taking the action that you've never done before, right? So you decided what you want. You decided who you need to be to do it.

You've committed to it. And then you have to take action. The action creates the being uncomfortable. That uncomfortable is a lack of certainty. And here we go, right? Now, what I want from this is for you to find the certainty, whether it's myself, whether it's my coaching, whether it's just taking the actual action, that is the separating difference between those that actually get the first deal versus those that give up and give every excuse under the moon on why it didn't work. My market's too hard.

The coaching didn't work. I just don't know what I'm doing. I don't have a process. Me, me, me, I, I, I, I, I can't, blah. All excuses. I have many students that do this business very part-time and make a very good income wholesaling and flipping homes, and they're not even doing this part-time and make a very good income wholesaling and flipping homes.

And they're not even doing this part-time. They have all the excuses in the world to make, and they're removing them by taking massive action. They're scared. They're uncertain. They just keep going. And if I can really highlight this as the episode, that is it, is to take the action necessary to achieve the result, even during your times of uncertainty. And this one thing will lead to you getting one deal or more deals, depending upon where you're in in the cycle. And if I can help break you guys through that, I would love to do that. I'm happy to give you the process, the strategy, the systems, the tools. Again, justincolbycoaching.com, fill out the application. But all in all, don't be fearful of doing it right. Take imperfect action consistently. Get it wrong, mess it up a ton because through that action, through that experience, it will create certainty on what you did wrong and how to fix it, which means the next time you're going to do it right, which gives you the confidence to go do it.

This is so, so, so important. I want you to go re-listen to this on iTunes, re-watch it on YouTube. The certainty will create the opportunity to get your first deal or your next deal. I hope this means a lot to you guys. With all that being said, even go back and listen to my five pillars of success because I know those will impact you as well. So again, self-development is great. Listening to Tony Robbins and Ed Milet and so many other great motivational speakers is great. But the key to certainty is going and doing and taking massive action. That's what I want from you.

I'll talk to you guys on the next episode. Peace.