The Science of Flipping - Why You Should Go National

Episode Date: November 24, 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   

Yo, yo, what is up the science of flipping family? I'm your host Justin Colby again with another episode here. I am with my four shot Starbucks Americano, again, sitting in my car because the sounds in my house echo like crazy. And on top of that, I'm replacing my roof, which is costing me an extra $20,000. So the hammering that is going on is obnoxious. Now they told me I need to buy a home. They told me home ownership is where it's at. They told me that you get tax write-offs for the interest on your mortgage. Buy a home, Justin. They didn't say

you're going to spend an extra 20 grand the second you buy it on replacing a roof. They didn't tell you it was going to cost you an extra $15,000 to skim coat the water. They didn't tell you what it costs to maintain, but nevermind. It's a great tax write-off, right accountants? Anyways, that is not what this episode is about. I'm just a little fired up about how much homes actually cost, right? So what I actually want to talk about is the opportunity. I'm getting a lot of questions right now about why I decided to go national with my wholesaling business. And because, you know, I used to be the guy that would always tell you,

you need to build a business in your own backyard. You're going to know it the best. You have the relationships there, et cetera, et cetera. Now, while none of that has changed ish, my belief is you can actually have more opportunity across the nation than just in your own backyard. You're actually limiting yourself. Now, how does that affect you and your business? Well, first of all, if you're listening to this, awesome, would love a five-star review. all if you're listening to this awesome would love a five-star review and if you're not yet over subscribed to my youtube channel you need to do that because this is a video as well just go to youtube.com justincolby subscribe to my channel

throw me some comments throw me some loves and make sure to turn on notifications so you know when I drop my videos on YouTube. All right, so what does this all mean in terms of more opportunity for you, for me? Well, I decided to make this change because I really wanted to go heavily into buying rentals. Now, for those that are familiar with the Phoenix real estate market, it's not exactly the best place to buy rentals right now. Can you still make it work? Absolutely. I do have friends and colleagues that are still buying rentals there, and that's fine.

But based around whether maybe I'm spoiled or just knowing what else is out there in, let's just say, middle America and states like Oklahoma and North Carolina and Alabama, those are much better states to be buying rentals. And so for me, it was about the opportunity that I can get as a wholesaler. One thing you need to understand, wholesaling is the business model. How you acquire the property is just an acquisition. So like creative financing, sub two, that's just a strategy for acquisition. And then how you exit the property is going to dictate how you acquire the property. Follow me? So if I can create more opportunities that I could potentially leverage into buying and holding while simultaneously wholesaling more properties, then it's a win-win all the way around. If you are considering going national, if you are thinking, man, my market's

too tough, then I would tell you the answer is going to be to open yourself up to more national markets. Now I'm strategically doing it with cold calling and pay-per-click advertising through Google. I have a great cold calling company that I use. They're out of Mexico actually. So they're bilingual. They're phenomenal. If you want to, if you want for me to connect you, I guess is the best way to say that. I'm happy to. Again, if you're listening to this on iTunes, just go to my Instagram, the Justin Colby, subscribe or follow me there and just shoot me a DM. Hey, I'm interested in talking to your cold calling company. Now they're a real cold calling company. It's not a VA. You need to be serious, right? Like they do, you know, two, three, four, five, six, seven, eight, 10,000 calls a day, right? So this is a

real company that you're going to need to have a marketing budget for. But if you're serious and you're looking for a cold calling company, they're phenomenal. I also in-house run our PPC. That is in-house. My manager, Anthony, runs my PPC. If you want to know how we're doing that, well, that's actually only for my students. We teach them and train them on how we do that. But if you're interested in being a student, let me know. Go over to my Instagram and just say, hey, I'm interested in you coaching me, Justin. We'll take it from there. But those two models can go really wide, right? I'm looking at going into December, going to 25,000 calls a day. Um, and then obviously PPC, you can go national. And so what that gives me is the opportunity to fulfill what I'm trying to, which is wholesaling my way to wealth. Meaning, I genuinely love wholesaling.

It is like an ATM. It can make you a ton of cash. But the biggest mistake in my business or in my business career, or I should say in my entrepreneurship journey was I didn't start buying rentals early enough, right? I just started this year, which is crazy. I know, I get it.

I've done this for 14 years. I just started this year, which is crazy. I know. I get it. I've done this for 14 years. I just started buying rentals this year. So you don't have to yell at me. I know it's a big mistake, but what that affords me is the ability to wholesale and take that cash and start buying rentals. Now you don't need to use your own cash. Another reason why I like wholesaling. I don't need a lot of cash to wholesale, but I can make a lot. And then I actually bring in a private cash partner who brings in the cash on my rentals. Now he's a real partner. There's no debt servicing. I'm not paying him interest. He actually gets a percentage ownership of the LLC and it's phenomenal.

But again, I've gotten a lot of questions on why I decided to go national. And this of the LLC, and it's phenomenal. But again, I've gotten a lot of questions on why I decided to go national, and this is the reason. First of all, Phoenix is a tough market. I make the argument every day that I think it's the toughest market in the nation. Doesn't mean there's no opportunity there. It doesn't mean I would tell you not to invest there. It just means it's a tough market,

and you gotta fight every single day. I'd also tell you there's no easy market, right? There's no market that's just like a lay down, easy, simple deals. Everything runs smoothly market that doesn't exist either. But I can tell you the amount of deals that I'm doing national, whether it be in Kansas, Jersey, Oregon, obviously Oklahoma, Alabama, Florida. I'm doing deals in all these states. It gives me the opportunity to analyze them for my own portfolio because that's ultimately my end game. I don't need to buy five a month,

although my goal is to try to get two to four a month. I just, it's tough to find that many. You know, this is a long play. um, is to try to get two to four a month. I just, it's tough to find that many. Um, you know, this is the long play. So if I can analyze, like we're getting a deal locked up or maybe even got locked up yesterday in Gainesville, Florida, I'm analyzing it first to make sure I would want to buy it or not buy it to keep in my portfolio. At that point, I then wholesale it out. That's the beautiful business model. That's where you guys all should be. Essentially, in my opinion, you've been taught wrong if they're telling you to stick to your own backyard.

The reason why I'm saying that is because I used to be that guy. I used to be the guru or the guru or the coach that would tell people, start in your own backyard. Well, nowadays, I've learned. You've got to always be adapting. You've got to recognize the things that are changing and you got to adapt with them and one of those things For you wholesalers and investors and flippers and and you know landlords

Start looking outside your backyard. I promise there is more opportunity out there than that is what is in your backyard Um, and so again if you need any of those resources Just easiest way to connect with me is on social media. The Justin Colby is my Instagram handle. Just go over there, the Justin Colby and send me a message. Um, again, if you're, if you have a marketing budget and want to do cold calling, I'll give you my resources in the company that I use. If, um, you're interested in coaching, just let me know. But PPC has been a game changer for us.

Google PPC. And I'm only gonna teach those that are my actual students on how to do that. But ultimately, this has worked out really, really well for me. I know it'll work out really, really well for you. Hopefully this has helped you. Again, if you have not yet gone to YouTube and subscribed, go do that and make sure you turn on notifications

as well as give me a five-star review right over there on iTunes, and I'll see you on the next podcast. Peace.