March 19, 2025 • 27 mins
Justin Colby is the founder of The Science of Flipping Podcast and The Science of Flipping Coaching Program. After investing in real estate for over 17 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
Justin's 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, where he has coached and mentored thousands of aspiring and active investors over the last decade.
He is a nationally recognized speaker and is on a mission to educate as many people as possible on becoming a successful dynamic real estate investor.
During the show we discussed:
- Step-By-Step Process For Flipping Properties: From Finding Deals To Closing.
- Analyzing And Choosing The Best Exit Strategy For Maximum Profitability.
- Scaling From Flipping One Deal A Month To Multiple Deals Consistently.
- Key Factors For Structuring Attractive Wholesale Deals For End Buyers.
- How To Secure Funding For Real Estate Investments.
- Time Allocation For Successful Real Estate Investing.
- Identifying Profitable Markets And Neighborhoods For Flipping.
- Essential Tools And Frameworks For Building A Sustainable Wholesaling And Flipping Business.
- Creating Predictable And Sustainable Passive Income Through Flipping.
- Effectively Using Other People’s Money (OPM) To Fund Deals.
- Strategies For Finding Motivated Buyers And Sellers With Low Marketing Costs.
- Common Mistakes New Wholesalers Make And How To Avoid Them.
- Benefits Of Joining A Coaching Program Or Training Vault To Accelerate Success In Real Estate Investing.
Resources:
https://thescienceofflipping.com/
https://flipping2wealth.com/
https://reilive.co/
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Transcript
Episode Transcript
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(00:02):
(Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome to the Business Credit and Financing Show.
Each week, we talk about the growth strategies
that matter most to entrepreneurs.
Listen in as we discuss the secrets to
getting credit and money to start and grow
your business.
And enjoy as we talk with seasoned business
owners, coaches, and industry leaders on a variety
(00:22):
of topics from advertising and marketing to the
nuts and bolts of running a highly successful
business.
And now, to introduce the host of our
show, financial expert and award-winning author, Ty
Crandall.
Hello, and thanks for joining us today.
I'm super excited you could be here because
today we're talking about the ultimate guide to
flipping and wholesaling real estate.
(00:44):
I mean, we have a best-selling author
with us today to actually dive in and
give you the nitty-gritty step-by-step
process to walk through this.
So with us today is Justin Colby.
Now, Justin's actually the founder of the Science
of Flipping podcast and the Science of Flipping
coaching program as well.
After investing in real estate for over 17
years now, almost 3,000 deals done, Justin
(01:06):
has created a business that generates seven figures
in active income through wholesaling and fix and
flipping, as well as accumulating millions of dollars
of rental properties, including five apartment buildings, 50
-plus single-family homes, and one storage facility.
Now, Justin's longevity in real estate is due
to his ability to look around the corners,
adapt to changing markets, perfecting, raising capital, and
(01:30):
focusing on lead generation, which allows him to
not just wholesale, fix, and flip, but also
accumulate wealth through long-term holds.
Now, his success in real estate led him
to start the Entrepreneur DNA podcast and the
Science of Flipping podcast and an education company
where he has coached and mentored thousands of
aspiring and active investors in the last decade.
(01:50):
Now, he is a nationally recognized speaker and
is on a mission to educate as many
people as possible on becoming a successful, dynamic
real estate investor.
Justin, what's up, man?
Thanks for joining us.
Dude, thank you for that, yeah.
I'm excited to be here and help your
audience however I can.
Yeah, I'm excited, too, because before we got
started, congratulations, man.
You just released a book and it sounds
like it already went to an Amazon Best
(02:11):
Seller status, so that's awesome.
Yeah, I'm very excited about it.
Thank you so much.
It was a passion project to start, and
I'll tell you, anyone thinking about writing a
book, you think it's easy because you've already
gone through it, it's all in your head.
Man, writing a book is a special skill,
if you will, right?
I was like, oh, dude, I'm gonna whip
this book out in whatever, I said 90
days, and oh, it took me a whole
(02:33):
year, right?
But yeah, all that love, all that passion,
now it is 18 years since we just
changed it.
It's 18 years officially, so it all went
into the book.
It's Flipping to Wealth.
If you wanna check it out, you can
go to the, it's all over Amazon.
You can also go to flippingthenumber2wealth.com, flippingthenumber2wealth
.com, and I give away a bunch of
(02:55):
freebies within the book on the website, and
so if you're interested in fixing, flipping, wholesaling,
raising money, all, I give away so many
freebies, my actual publisher was like, what the
hell?
So again, flippingnumber2wealth.com, and yeah, hit number
one bestseller in three different categories, real estate,
real estate sales, and finance.
All right, man, congratulations, I appreciate that, and
(03:17):
then as we wrap up, I'll also hit
that again.
You said it's flipping2wealth.com with the number
two, flippingthenumber2wealth.com to get that.
That's right.
Okay, so if you're watching, make sure you
check it out, flipping2wealth.com.
So let me ask you this.
You are, do a lot of stuff, right?
You have storage facilities, you have long-term,
you do fix and flip, you do wholesaling.
So what is so sexy and appealing about
(03:38):
flipping and wholesaling that that is one of
the big things that you spend a lot
of time on?
So I call it cashflow, and I know
most people consider cashflow like rental property cashflow.
I actually consider it like the other way.
It's cashflow to be able to afford the
life that you want so you can create
the opportunities of buying assets, right?
Now, I also tell you in the book,
(03:58):
and I would tell you here on this
episode, is like, I'm not wholesaling and fix
and flipping to make a lot of money
for myself cashflow-wise to put that money
into rentals.
I don't.
You just, in your intro of me, you
talked about how I've now created a pretty
tight way to raise capital.
So I'm always raising capital for rentals, apartments,
(04:19):
storage facilities, single-family homes.
I'm always raising other capital.
So even though the wholesaling fix and flipping
creates income, really high active income, and I
kind of call it cashflow, right?
It doesn't go into the rentals, right?
I still strategically raise money for assets that
I'm gonna keep.
So that makes sense.
So you're not taking it and making money
(04:40):
to reinvest in the real estate.
You're already getting outside money to invest in
real estate.
You're taking that money and using it actually
for that money to come, some kind of
basically siphoned down and come to you.
Yeah, no, it's active income.
I mean, that's where you can just create
the lifestyle you want, right?
I believe everyone should be in real estate,
every single person, right?
And just depending upon, like the IRS considers
me a professional real estate investor.
(05:03):
Like that is how I, so I get
the best write-offs you possibly can get
with assets.
So if my active income through wholesaling and
flipping is really good, then by me buying
apartments, by me buying storage facilities, I'm actually
able to take a lot of that write
-off against my active income because I'm categorized
as a real estate professional, right?
(05:24):
This is my full-time thing.
If I was a garbage man, I would
not have the same type of tax write
-off, but it doesn't mean I wouldn't get
tax write-off.
It's just not as aggressive.
I'm able to take bonus depreciation on a
lot of things, which keeps my write-offs
very aggressive.
But yes, wholesaling and flipping, you do that
for income.
Like I can change anyone's life, right?
(05:44):
I run something called REILive, REILive.co, not
.com, .co, is a program where I help
people get their very first deal.
Or for some, they may have gotten a
deal or two randomly, but I actually help
them create deal flow because I'm talking to
the homeowner, I'm talking to the agent.
(06:04):
And that has actually helped me help others
quit their nine to five jobs, go full
-time into this, create the taxable identification of
a real estate professional and get the bonus
appreciation because now they left their W-2
job.
And so I will never, well, I don't
wanna say that.
I doubt I will stop wholesaling in fixed
and flipping because it is such a good
(06:25):
lucrative cashflow income stream.
But the bigger play over the next 18
years that I'm gonna go on is gonna
be buying assets.
How does somebody break in?
Like if somebody's interested in getting started for
the first time in wholesale and flipping, and
that's what you just talked about, you're really
a specialist in helping them get that first
deal.
What are some of the first steps that
somebody should take if they're looking to dive
in to fix and flip or wholesaling?
(06:47):
Yeah, without shamelessly promoting myself, reilive.co.co
literally is that.
So five days a week, two to three
hours a day, I have brand newbies bring
me leads, me and my team.
So I have a general manager, I have
acquisition team.
We will actually on Zoom where they are
a part of the conversation, call that homeowner
(07:07):
or call that agent and we share the
deal 50-50, right?
And that way all the new person has
to do is start the conversation.
Hey, Mr. Homeowner, why are you selling?
Do you need to sell this year or
next year?
Like a very general question-based starting conversation.
They hand the conversation over to me, my
general manager, my acquisition team, and on Zoom
in front of the entire community, we negotiate
(07:29):
the deal, comp the deal, contract the deal
right then and right there.
So reilive.co is the place every newbie
needs to go because deals are actively happening
because I'm not just coaching people anymore, I'm
actually doing it with them.
We share the deal 50-50.
If we're gonna wholesale it, I have tool
called InvestorLift that has 5 million active buyers
(07:50):
so I can wholesale deals anywhere in the
country and we just share it 50-50
and it starts to gain.
They get the confidence and the certainty that
this actually works.
It's not just for us gurus.
Anyone can do this business.
Anyone can wholesale or fix and flip a
deal.
So what do you say to somebody when
it comes to assessing whether or not it
(08:10):
makes sense for a property to be able
to, you're talking about analyzing a deal, in
order to be a wholesaler and fix it.
What's some of the advice you give people
for that analyzation stage?
It's always, you gotta always look at the
best potential of the asset.
So for me, all of my business runs
on a price point of $300,000 or
less, all of my business.
(08:32):
And the reason why I do that is
because although maybe the wholesale fees are a
little bit smaller, the fix and flip fees
or profits might be a little bit smaller
relative to a million dollar flip or a
million dollar assignment out in California is because
now I have an asset that I could
do either.
I could just wholesale it or I could
fix and flip it or keep it as
(08:53):
a rental.
That price point allows my business model to
diversify.
So in your intro of me, you said
be a dynamic real estate investor.
I preached that.
I'm tired of the one trick pony, wholesale,
wholesale, wholesale, wholesale.
Don't get me wrong, I still wholesale.
It is a great strategy, but you also
need to be fix and flipping.
(09:13):
You also need to be buying and holding.
And so when I focus and I encourage
all individuals in the single family space specifically,
if you're gonna break into this space of
real estate investing, start with everything under 300
,000 because you can fix and flip those
and you can keep them.
Which even if you're gonna wholesale, now you
have two different buyers.
You have the fix and flip buyer and
(09:34):
you have the landlord buyer.
So that's how you do that.
Now, how specifically do I underwrite it?
I don't really wanna hold a rental if
I can't net cashflow at a very, very
base minimum $200 a month.
And that still isn't very sexy.
I also want to essentially be able to
have as minimal money left in the deal
(09:55):
as possible.
So I run the BRRRR method.
The BRRRR method for those that don't know
is you buy it, you remodel it, you
rent it, and then you refinance.
The refinance section is very important.
If you buy it right and you force
the appreciation through your rehab, banks a lot
of times will finance a number higher than
you're into the deal.
So we just did a refinance on a
(10:15):
five deal package that we own.
And we actually did a cash out refi
and put $15,000 back into our pocket
and all the cash that was in the
deal, in the five deals.
And so that's why I like forced appreciation,
the BRRRR model is because if you do
it right and if you analyze it right
and acquire it right, you're not going to
have any of your own cash or anyone's
(10:36):
cash into the property except for the bank.
So if you're looking at BRRRR, first step
is to buy.
So what's some of the financing on the
creative side that you're using to help your
tribe, your students be able to figure out
how to do the initial purchase?
So I give them my buy box.
So part of what I do at REILive
.co is they literally are seeing my buy
box.
As I'm talking to the sellers, I'm talking
(10:58):
to the agent, they're seeing on my screen
that my analysis of, all right, we're going
to buy it for a hundred, we're going
to put 80 grand into it, it's worth
299,000.
In my buy box, I have a six
month hold time, I have 11% hard
money fees, I have all the closing costs,
it's all formulaic, right?
It's all in that buy box.
Only members of REILive.co can get it,
(11:19):
right?
And it's not, this is not expensive, just
so everyone knows, like I'm not trying to
sell anyone a 10,000, 20,000, like
this is $197 a month, right?
And there's five calls a week, two to
three hours a day, and we're really doing
deals, this is not some expensive thing.
But then they can see like how we
analyze it because it's a very simple buy
box.
And in that same buy box, so on
(11:40):
the top is like, does it fit for
a fix and flip?
And then under that, does it fit for
a long-term hold?
Not short-term, but long-term.
So all the analytics are there.
So we underwrite it at 7.5%
interest and the bank refinancing us at 75
% of after repair value and all that
plays in.
And we'll see how much equity we have
at that level.
We'll see how much rent we get after
(12:01):
we're paying principal interest, taxes, insurance, property management.
And then we'll also see how much is
left in the property, right?
How much capital did we leave into the
property?
And then if everything goes green, then you're
like, we're buying something, we're doing something with
this, right?
Now we just need to decide what's the
best potential for it.
Long-term hold, flip, wholesale, type C.
(12:21):
I love long-term holds.
I'm just more and more passionate.
Here's why.
It gives you what I call bankability, right?
Because if you stick to my model, which
is like under 300,000, no one has
ever gone bankrupt buying homes at $150,000.
Right?
I mean, I guess I don't want to
be too poor.
Like sure, if you have one rental and
(12:43):
you lost your job and okay, fine.
But as a real estate investor, you really
have the opportunity.
Like we looked at a deal yesterday that
we own.
We actually are thinking and considering selling it
off seller financing.
The reason why is because if we sold
it for top dollar, we would make, I
think the numbers came to like $59,000
as a flip, right?
We already bought it.
We already remodeled it.
(13:04):
So now we're trying to decide what we
want to do.
And now a quick break to hear from
our sponsor.
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(13:26):
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$59,000 flip is great, right?
I mean, we would list it at 330,
329, 59 grand would come to us.
Great.
It's a great little flip.
But if I sell it seller financing to
a homestead buyer, not to an investor, to
a homestead buyer who can't get a loan
because they did something bad to their credit
(13:47):
or the interest rates are too high or
whatever the case may be, I would actually
make a little bit less.
I think the number was like $54,000
in my pocket.
And I would have a 60,000 equity
play.
And I know this is gonna be a
little bit more advanced, but now the equity
of that deal stays in the deal.
And I create a second note, like a
bank would, like a first mortgage and a
(14:08):
second mortgage.
And I hold that note for $60,000.
I can put interest on that note or
I could keep it at 0% interest.
But then when the homeowner then pays off
the note in a 10-year balloon, I
made the 54 upfront, which is very similar
to the 59 total, plus the equity that
I have in that property actually gets created
(14:29):
into a note.
In 10 years from now, I'll have another
$60,000 check comp.
Plus, because of how the financing works, rent
in that area was like 2,400 bucks,
something like that.
My mortgage on a DSCR loan was gonna
be something like 1,800.
So after fees and whatever, I was gonna
be making $400 a month positive cashflow on
my loan to the seller versus my loan
(14:51):
to the bank.
So I'm making money at the front end
by selling it this way.
I'm making money for the 10 years while
I'm holding it, and then have another payday
when I sell it.
And so we're really leaning into that concept
even further.
And I know this is a little more
advanced, so I apologize, guys.
But I really love the BRRRR model for
this reason, is you can get paid on
the front, in the middle, and during the
(15:11):
back, if you get a little bit more
creative on how you're selling it.
Again, all this is in the book, but
yeah, I'm just leaning into that.
If you are buying it through the BRRRR
method, and you're making the initial purchase, you
mentioned DSCR, is that your primary go-to?
Because I mean, there's loans for different purposes.
Like if you're doing a fix and flip,
you might do hard money fix and flip
financing.
But if you're going to buy it, it
doesn't need a lot of rehab, and you're
(15:31):
going to keep it long-term, what kind
of financing do you usually recommend for your
students?
Because I imagine that's one of the biggest
objections.
Like when I talk to people about real
estate in our world, they want the money
to get in.
That's the biggest concern they have.
That barrier was removed, they get in.
So what are you teaching your students about
the initial money they need to do the
initial purchase?
Yeah, I mean, so it just depends.
Always need some level of money, regardless if
(15:53):
you're rehabbing it or buying it as a
rental.
So I always talk about raising private capital.
Like I said, my wholesaling and fix and
flip company makes me a lot of money,
but I don't use it for that.
I have a structured system on how I
go out and raise capital.
So let's just say I went to you
and, hey, Ty, I have property one to
the main street.
We're going to need $60,000 on it.
I'm going to give you 10% interest
and you're going to be protected by the
asset itself.
(16:14):
Well, Ty might have some money and he
wants to get in the real estate game,
but Ty has a banker's job and works
behind a desk all day and doesn't have
time to do this.
But this ties them to kind of being
a part of our world.
It's a sexy world, right?
It's fix and flipping and real estate.
So it ties Ty to that in this
example.
And so a lot of people just want
to be around that, right?
(16:34):
They want to be a part of the
action.
Not to mention the stock market is volatile,
interest rate and people have retirement accounts that's
losing money.
And so not to mention I'm giving a
great return, right?
But I lead really with the ability to
be a part of my world.
If I'm following what you're doing, like how
feasible is it to get to a point
where I'm doing one of these deals every
month, like as I get started?
(16:56):
I would say it's feasible as it is
of how much time you put forth.
You don't need a lot of money, but
how much time are you investing?
You're going to spend something.
You're going to spend money or you're going
to spend time.
In some cases, you're going to do both,
but it comes down to how much time,
how many offers are you making, right?
Are you calling agents?
Are you reaching out to homeowners, right?
What is it that you're doing?
But I had a guy in 2024 specifically
(17:17):
join my community, my coaching community.
And he worked as a car salesman and
he was making multiple six figures.
Within three or four months, he quit his
job because he was able to get a
deal and saw another deal coming.
He was like, oh, if I could do
this full time.
So at the end of the year, he
looked back and he did like 17 deals
in the 12 months.
So it's not a couple of months, but
(17:39):
it created 17 deals.
And I want to say he averaged $15
,000 thereabout.
So he basically learned that he could replicate
his income, be on his own time, be
an entrepreneur, have tax write-offs, right?
And do it his own way versus going
to the car dealership on every weekend.
He has two kids, right?
He's like, oh my God, even if I
made a $50,000 less, this is worth
(18:01):
it because I have my weekends back.
I have time with my kids and my
family, right?
And so, yeah, I mean, I think it's
very viable, just how much work you need
to put in.
I like the fact that you say time
and work because so many people will hear
somebody come on the show like what you're
talking about and they think it's easy, right?
And we know it's not easy.
So let me ask you this, where is
the time component?
Like when I'm getting in and let's say,
(18:21):
I want to get into wholesaling, I want
to get into flipping.
Where is the time component of that process?
So I'm going to use another example, Mo.
He is a part of my IREILIVE.co.
He has two jobs, two to pay his
bills, two full-time jobs, right?
This year, and today as we record, it's
January 15th, he has contracted five deals.
He has sold one already as a wholesale
(18:42):
deal that I helped him sell.
He has three others that are going out
and marketing.
And today he texted me already saying, I
have another deal I think we're going to
be able to contract in Dallas.
If anyone has excuses, it's him.
He has two full-time jobs.
I mean, he literally finds time in the
morning and find times at night.
And it's always about, it's never about the
resources, but it's about being resourceful.
(19:02):
So he, for example, on his second job,
he's literally texting me while texting the agent
about this deal in Dallas.
Because remember, IREILIVE.co is me helping you
genuinely do the deal, not just teach, right?
Not just coach.
That's why it's $197, not 10 grand.
I say that because he finds the time.
He's resourceful, right?
So a lot of people will make you
(19:23):
the excuse, yeah, but Justin, I have kids.
I have work.
I have a husband.
I have a wife.
Well, pick your heart.
Is it hard to be broke?
Absolutely.
Is it hard to sacrifice personal time to
make money so you can create more time?
Absolutely.
But what heart are you going to pick?
Because they're both hard, right?
So in his case, he's fed up working
two jobs.
(19:44):
Absolutely fed up.
And he's like, I'm willing to sacrifice whatever
I need to sacrifice to at minimum quit
my first job, but ultimately quit them both.
And so I tell people like morning and
night, you got kids, you have a husband,
you have a wife, you have a job,
like find the time.
I woke up at 3 a.m. today,
Ty.
I'm not saying that to brag.
I'm saying that because I have so much
(20:04):
on my plate, I have to find the
time, right?
And so part of that is also, part
of that time is for me, right?
I need quiet.
I don't know if you have kids, I
need mental space to just go because I
have a lot going on, right?
Not just real estate and coaching and I
have a tech business and just everything.
Two kids, wife.
(20:24):
So I say that to say, you just
find it.
And people are like, oh, I'm not a
morning person.
I like to stay up late.
Well then what are you doing when you
stay up late?
That's the question.
So if I have the time to commit
and I'm looking at, let's say wholesaling, is
that do I spend a lot of my
time that I do have?
Do I spend it on finding the right
property?
Do I find it on the marketing side?
Do I spend a lot of time on
(20:45):
negotiating with the seller?
Is it finding the buyer?
Like where is most of the time?
I'd imagine it's front heavy on trying to
find the right deals where I'd probably commit
most of my time in the process.
That's right.
You're exactly right.
Because a deal will find buyers.
So people are like, oh, I need to
make sure I have a buyer for, no,
no, no, go find a deal.
Like if you find a deal, you can
go to a Facebook group and say, hey,
(21:05):
I have 123 Main Street.
Does anyone want, like, it'll be sold in
a second, right?
So spend your time working the deal.
Now, how do you do that?
Well, if you don't have money and I'm
just gonna make the assumption no one's gonna
come out and say, yeah, I'm ready to
spend 10 grand a month at marketing and
spend all the, agents.
Agents are a valid resource.
People just don't think it's a deal because
it's on the MLS.
(21:26):
It's nonsense.
Absolute nonsense.
I do deals each and every month with
agents, right?
As a part of my business.
So that's a free resource.
The other resource is pull a list and
start smiling and dialing.
Send some direct mail strategically to a very
refined list, very small, 70 people.
The mail costs $1 each, it's 70 bucks.
It's not 700 or 7,000, right?
(21:48):
That's what you gotta do.
I would encourage you guys to work with
other investors, right?
Other investors might have the deal.
So then all you now need to go
do is find the buyer for that deal.
But then you need to understand how to
analyze the property because you think it's a
deal because the wholesaler has it.
You're not using the right word, right?
It doesn't mean it's a deal, right?
A deal is a good deal.
This just might be a property that's under
(22:08):
contract.
So you can definitely find someone like me
and bring a buyer to my property and
I'll happily, we're doing this right now in
Texas.
A local guy in Texas, I know him
very, very well.
He is the guy, he knows all the
buyers.
I called him immediately when we got a
deal under contract, said, hey, think you can
find a buyer for this?
Within two hours, he says, hey, one of
(22:30):
my buyers wants to see it on whatever
day, Wednesday or whatever, right?
So it's always about like, does someone else
have your buyer?
And so if you can go find a
deal from me, cause you see it, go
find a buyer for that person.
So Justin, I've been in businesses before where
the decision of who you pursue, let's say
the customer wise is, I did it wrong
and then it cost me and then I
lost a lot of time.
(22:51):
Same thing with real estate and markets, right?
So you're in Miami.
I mean, I can imagine you're probably not
spending less than 300K.
That's probably not your main investment market.
I could be wrong because Miami is a
little bit expensive.
So like, how do you choose and how
do you help your students choose the right
market to go into?
Or, cause I imagine spreading all over the
(23:12):
place, trying to go all over the country
doesn't make sense.
So how do you help them narrow down
the right market to target?
Yeah, so my first answer is usually just
follow me cause I'm a real buyer also,
right?
So I buy and flip, I buy and
hold and I wholesale, right?
And so I like to work in certain
states.
I like to buy properties in certain states.
The Carolinas, both of them, Florida, typically Northern
Florida, Mid to Northern Florida, Alabama, Georgia, Tennessee,
(23:37):
Texas, and Oklahoma.
So I usually will tell my students in
REILive.co, I say, follow where I'm at.
Pick those states in general and then start
picking cities in those states, right?
I mean, you think of a Florida or
a Texas, even Alabama has three pretty major
cities from Huntsville to Mobile to Birmingham.
I mean, you have options.
North Carolina, you have Asheville and Greensboro and
(23:58):
Charlotte and Raleigh, like there's options.
So I say, I'm a buyer in these.
You're already gonna be using my buy box
cause you're a part of REILive.co. Like
just follow me and find me a deal.
Let's use it that way.
And if I don't want to buy it
because maybe the economics don't work or whatever,
the rehab project too big, let's just wholesale
it.
But just follow me cause that's where the
money's flowing.
(24:19):
Follow the money.
Justin, great stuff today.
Where can everybody go?
I think we've already talked about REILive.co
and then where can everybody go to learn
more?
Is that the main place that they should
go to be able to learn more?
Yeah, go there, but also you can go
to my Instagram.
So it's really me.
I'm not, I don't have some bot talking
to everybody.
If you go to Instagram, the Justin Colby,
the Justin Colby and hit me up.
(24:41):
And what I would encourage you just for
this podcast, let me know you heard me
on Ty's podcast, right?
Say what's up, just heard you with Ty
and let's have a conversation.
You know what I mean?
I'm a normal guy.
I'll happily answer your questions, but just let
me know you heard me with Ty, the
Justin Colby on Instagram.
Perfect, I appreciate it.
Justin, thanks for coming on with us today.
Right on brother, appreciate you having me.
All right, so listen, if you're watching this,
you can find Justin on Instagram, as you
(25:03):
just said.
A couple other actions I want you to
take.
First, make sure you just go grab his
book because if you really want to take
the next step, then help him be able
to help yourself and help him.
He's already an Amazon bestseller, so he doesn't
necessarily need your help, but it's still going
in and buying the book gives him support.
And then it also helps you.
I find that books really help you outline
the process.
I mean, in a way that we weren't
able to get into all today because we
(25:24):
only have 30 minutes, right?
So that will give you a lot more
insight and depth and help you realize, yes,
this is something I definitely want to do.
And you can get that book at FlippingToWealth
.com.
That's flipping the number two.
So FlippingToWealth.com.
So make sure you check that out besides
finding Justin on Instagram.
The next thing you want to do is
you make sure that you go to REILive
.co. Look, I don't know about you.
I've had a lot of guests on the
podcast throughout the years we've been here.
(25:45):
We're like at 900 something guests, right?
But I've never had anybody that ever has
a program where you can go in and
see the whole thing and they're working deals
with you, right?
Like they're coming in.
And again, the way it's structured, Justin benefits
as much by that deal getting done as
you do, right?
It's a split.
So he has every motivation to help you
get the deal done.
And I love that when somebody else is
(26:05):
invested as you are, because again, like he's
as vested as you are.
So again, he only wins when you win.
So make sure you check it out.
That's REILive.co, REILive.co, dot C-O,
right?
So make sure you check it out because
this is a really low monthly way to
be able to come in, be able to
get the help you need to actually get
these deals done.
And look, let's be honest, that's the hardest
part.
(26:25):
That's where everybody screws this thing up.
Everybody goes out.
They think they find somebody that wants to
sell and then they put the wrong money
into it.
They do the wrong deals.
I mean, they mess everything up.
Well, this fixes all that.
So you don't make those mistakes.
So make sure you check it out on
REILive.co. So make sure you find Justin
on Instagram.
Go to REILive.co to make sure you
join the community there.
(26:46):
And also make sure you go to flipping2wealth
.com.
That's flipping the number two wealth.com to
get justice.
Thanks very much for tuning in.
Take care.
Have a great day.
You've been listening to the Business Credit and
(27:07):
Financing Show with your host, Ty Crandall.
Watch for our next episode to get even
more insight on financing and growing your business.
And don't forget to check us out online
at creditsuite.com for even more business growth
strategies.
(Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome to the Business Credit and Financing Show.
Each week, we talk about the growth strategies
that matter most to entrepreneurs.
Listen in as we discuss the secrets to
getting credit and money to start and grow
your business.
And enjoy as we talk with seasoned business
owners, coaches, and industry leaders on a variety
(00:22):
of topics from advertising and marketing to the
nuts and bolts of running a highly successful
business.
And now, to introduce the host of our
show, financial expert and award-winning author, Ty
Crandall.
Hello, and thanks for joining us today.
I'm super excited you could be here because
today we're talking about the ultimate guide to
flipping and wholesaling real estate.
(00:44):
I mean, we have a best-selling author
with us today to actually dive in and
give you the nitty-gritty step-by-step
process to walk through this.
So with us today is Justin Colby.
Now, Justin's actually the founder of the Science
of Flipping podcast and the Science of Flipping
coaching program as well.
After investing in real estate for over 17
years now, almost 3,000 deals done, Justin
(01:06):
has created a business that generates seven figures
in active income through wholesaling and fix and
flipping, as well as accumulating millions of dollars
of rental properties, including five apartment buildings, 50
-plus single-family homes, and one storage facility.
Now, Justin's longevity in real estate is due
to his ability to look around the corners,
adapt to changing markets, perfecting, raising capital, and
(01:30):
focusing on lead generation, which allows him to
not just wholesale, fix, and flip, but also
accumulate wealth through long-term holds.
Now, his success in real estate led him
to start the Entrepreneur DNA podcast and the
Science of Flipping podcast and an education company
where he has coached and mentored thousands of
aspiring and active investors in the last decade.
(01:50):
Now, he is a nationally recognized speaker and
is on a mission to educate as many
people as possible on becoming a successful, dynamic
real estate investor.
Justin, what's up, man?
Thanks for joining us.
Dude, thank you for that, yeah.
I'm excited to be here and help your
audience however I can.
Yeah, I'm excited, too, because before we got
started, congratulations, man.
You just released a book and it sounds
like it already went to an Amazon Best
(02:11):
Seller status, so that's awesome.
Yeah, I'm very excited about it.
Thank you so much.
It was a passion project to start, and
I'll tell you, anyone thinking about writing a
book, you think it's easy because you've already
gone through it, it's all in your head.
Man, writing a book is a special skill,
if you will, right?
I was like, oh, dude, I'm gonna whip
this book out in whatever, I said 90
days, and oh, it took me a whole
(02:33):
year, right?
But yeah, all that love, all that passion,
now it is 18 years since we just
changed it.
It's 18 years officially, so it all went
into the book.
It's Flipping to Wealth.
If you wanna check it out, you can
go to the, it's all over Amazon.
You can also go to flippingthenumber2wealth.com, flippingthenumber2wealth
.com, and I give away a bunch of
(02:55):
freebies within the book on the website, and
so if you're interested in fixing, flipping, wholesaling,
raising money, all, I give away so many
freebies, my actual publisher was like, what the
hell?
So again, flippingnumber2wealth.com, and yeah, hit number
one bestseller in three different categories, real estate,
real estate sales, and finance.
All right, man, congratulations, I appreciate that, and
(03:17):
then as we wrap up, I'll also hit
that again.
You said it's flipping2wealth.com with the number
two, flippingthenumber2wealth.com to get that.
That's right.
Okay, so if you're watching, make sure you
check it out, flipping2wealth.com.
So let me ask you this.
You are, do a lot of stuff, right?
You have storage facilities, you have long-term,
you do fix and flip, you do wholesaling.
So what is so sexy and appealing about
(03:38):
flipping and wholesaling that that is one of
the big things that you spend a lot
of time on?
So I call it cashflow, and I know
most people consider cashflow like rental property cashflow.
I actually consider it like the other way.
It's cashflow to be able to afford the
life that you want so you can create
the opportunities of buying assets, right?
Now, I also tell you in the book,
(03:58):
and I would tell you here on this
episode, is like, I'm not wholesaling and fix
and flipping to make a lot of money
for myself cashflow-wise to put that money
into rentals.
I don't.
You just, in your intro of me, you
talked about how I've now created a pretty
tight way to raise capital.
So I'm always raising capital for rentals, apartments,
(04:19):
storage facilities, single-family homes.
I'm always raising other capital.
So even though the wholesaling fix and flipping
creates income, really high active income, and I
kind of call it cashflow, right?
It doesn't go into the rentals, right?
I still strategically raise money for assets that
I'm gonna keep.
So that makes sense.
So you're not taking it and making money
(04:40):
to reinvest in the real estate.
You're already getting outside money to invest in
real estate.
You're taking that money and using it actually
for that money to come, some kind of
basically siphoned down and come to you.
Yeah, no, it's active income.
I mean, that's where you can just create
the lifestyle you want, right?
I believe everyone should be in real estate,
every single person, right?
And just depending upon, like the IRS considers
me a professional real estate investor.
(05:03):
Like that is how I, so I get
the best write-offs you possibly can get
with assets.
So if my active income through wholesaling and
flipping is really good, then by me buying
apartments, by me buying storage facilities, I'm actually
able to take a lot of that write
-off against my active income because I'm categorized
as a real estate professional, right?
(05:24):
This is my full-time thing.
If I was a garbage man, I would
not have the same type of tax write
-off, but it doesn't mean I wouldn't get
tax write-off.
It's just not as aggressive.
I'm able to take bonus depreciation on a
lot of things, which keeps my write-offs
very aggressive.
But yes, wholesaling and flipping, you do that
for income.
Like I can change anyone's life, right?
(05:44):
I run something called REILive, REILive.co, not
.com, .co, is a program where I help
people get their very first deal.
Or for some, they may have gotten a
deal or two randomly, but I actually help
them create deal flow because I'm talking to
the homeowner, I'm talking to the agent.
(06:04):
And that has actually helped me help others
quit their nine to five jobs, go full
-time into this, create the taxable identification of
a real estate professional and get the bonus
appreciation because now they left their W-2
job.
And so I will never, well, I don't
wanna say that.
I doubt I will stop wholesaling in fixed
and flipping because it is such a good
(06:25):
lucrative cashflow income stream.
But the bigger play over the next 18
years that I'm gonna go on is gonna
be buying assets.
How does somebody break in?
Like if somebody's interested in getting started for
the first time in wholesale and flipping, and
that's what you just talked about, you're really
a specialist in helping them get that first
deal.
What are some of the first steps that
somebody should take if they're looking to dive
in to fix and flip or wholesaling?
(06:47):
Yeah, without shamelessly promoting myself, reilive.co.co
literally is that.
So five days a week, two to three
hours a day, I have brand newbies bring
me leads, me and my team.
So I have a general manager, I have
acquisition team.
We will actually on Zoom where they are
a part of the conversation, call that homeowner
(07:07):
or call that agent and we share the
deal 50-50, right?
And that way all the new person has
to do is start the conversation.
Hey, Mr. Homeowner, why are you selling?
Do you need to sell this year or
next year?
Like a very general question-based starting conversation.
They hand the conversation over to me, my
general manager, my acquisition team, and on Zoom
in front of the entire community, we negotiate
(07:29):
the deal, comp the deal, contract the deal
right then and right there.
So reilive.co is the place every newbie
needs to go because deals are actively happening
because I'm not just coaching people anymore, I'm
actually doing it with them.
We share the deal 50-50.
If we're gonna wholesale it, I have tool
called InvestorLift that has 5 million active buyers
(07:50):
so I can wholesale deals anywhere in the
country and we just share it 50-50
and it starts to gain.
They get the confidence and the certainty that
this actually works.
It's not just for us gurus.
Anyone can do this business.
Anyone can wholesale or fix and flip a
deal.
So what do you say to somebody when
it comes to assessing whether or not it
(08:10):
makes sense for a property to be able
to, you're talking about analyzing a deal, in
order to be a wholesaler and fix it.
What's some of the advice you give people
for that analyzation stage?
It's always, you gotta always look at the
best potential of the asset.
So for me, all of my business runs
on a price point of $300,000 or
less, all of my business.
(08:32):
And the reason why I do that is
because although maybe the wholesale fees are a
little bit smaller, the fix and flip fees
or profits might be a little bit smaller
relative to a million dollar flip or a
million dollar assignment out in California is because
now I have an asset that I could
do either.
I could just wholesale it or I could
fix and flip it or keep it as
(08:53):
a rental.
That price point allows my business model to
diversify.
So in your intro of me, you said
be a dynamic real estate investor.
I preached that.
I'm tired of the one trick pony, wholesale,
wholesale, wholesale, wholesale.
Don't get me wrong, I still wholesale.
It is a great strategy, but you also
need to be fix and flipping.
(09:13):
You also need to be buying and holding.
And so when I focus and I encourage
all individuals in the single family space specifically,
if you're gonna break into this space of
real estate investing, start with everything under 300
,000 because you can fix and flip those
and you can keep them.
Which even if you're gonna wholesale, now you
have two different buyers.
You have the fix and flip buyer and
(09:34):
you have the landlord buyer.
So that's how you do that.
Now, how specifically do I underwrite it?
I don't really wanna hold a rental if
I can't net cashflow at a very, very
base minimum $200 a month.
And that still isn't very sexy.
I also want to essentially be able to
have as minimal money left in the deal
(09:55):
as possible.
So I run the BRRRR method.
The BRRRR method for those that don't know
is you buy it, you remodel it, you
rent it, and then you refinance.
The refinance section is very important.
If you buy it right and you force
the appreciation through your rehab, banks a lot
of times will finance a number higher than
you're into the deal.
So we just did a refinance on a
(10:15):
five deal package that we own.
And we actually did a cash out refi
and put $15,000 back into our pocket
and all the cash that was in the
deal, in the five deals.
And so that's why I like forced appreciation,
the BRRRR model is because if you do
it right and if you analyze it right
and acquire it right, you're not going to
have any of your own cash or anyone's
(10:36):
cash into the property except for the bank.
So if you're looking at BRRRR, first step
is to buy.
So what's some of the financing on the
creative side that you're using to help your
tribe, your students be able to figure out
how to do the initial purchase?
So I give them my buy box.
So part of what I do at REILive
.co is they literally are seeing my buy
box.
As I'm talking to the sellers, I'm talking
(10:58):
to the agent, they're seeing on my screen
that my analysis of, all right, we're going
to buy it for a hundred, we're going
to put 80 grand into it, it's worth
299,000.
In my buy box, I have a six
month hold time, I have 11% hard
money fees, I have all the closing costs,
it's all formulaic, right?
It's all in that buy box.
Only members of REILive.co can get it,
(11:19):
right?
And it's not, this is not expensive, just
so everyone knows, like I'm not trying to
sell anyone a 10,000, 20,000, like
this is $197 a month, right?
And there's five calls a week, two to
three hours a day, and we're really doing
deals, this is not some expensive thing.
But then they can see like how we
analyze it because it's a very simple buy
box.
And in that same buy box, so on
(11:40):
the top is like, does it fit for
a fix and flip?
And then under that, does it fit for
a long-term hold?
Not short-term, but long-term.
So all the analytics are there.
So we underwrite it at 7.5%
interest and the bank refinancing us at 75
% of after repair value and all that
plays in.
And we'll see how much equity we have
at that level.
We'll see how much rent we get after
(12:01):
we're paying principal interest, taxes, insurance, property management.
And then we'll also see how much is
left in the property, right?
How much capital did we leave into the
property?
And then if everything goes green, then you're
like, we're buying something, we're doing something with
this, right?
Now we just need to decide what's the
best potential for it.
Long-term hold, flip, wholesale, type C.
(12:21):
I love long-term holds.
I'm just more and more passionate.
Here's why.
It gives you what I call bankability, right?
Because if you stick to my model, which
is like under 300,000, no one has
ever gone bankrupt buying homes at $150,000.
Right?
I mean, I guess I don't want to
be too poor.
Like sure, if you have one rental and
(12:43):
you lost your job and okay, fine.
But as a real estate investor, you really
have the opportunity.
Like we looked at a deal yesterday that
we own.
We actually are thinking and considering selling it
off seller financing.
The reason why is because if we sold
it for top dollar, we would make, I
think the numbers came to like $59,000
as a flip, right?
We already bought it.
We already remodeled it.
(13:04):
So now we're trying to decide what we
want to do.
And now a quick break to hear from
our sponsor.
Hey, it's Ty Crandall with Credit Suite.
Many of our subscribers want to get the
most money to grow their business at the
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Whether you're looking for startup capital, low interest
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-2487 or schedule your free consultation at creditsuite
(13:26):
.com forward slash consult to see how much
money you can get approved for today.
$59,000 flip is great, right?
I mean, we would list it at 330,
329, 59 grand would come to us.
Great.
It's a great little flip.
But if I sell it seller financing to
a homestead buyer, not to an investor, to
a homestead buyer who can't get a loan
because they did something bad to their credit
(13:47):
or the interest rates are too high or
whatever the case may be, I would actually
make a little bit less.
I think the number was like $54,000
in my pocket.
And I would have a 60,000 equity
play.
And I know this is gonna be a
little bit more advanced, but now the equity
of that deal stays in the deal.
And I create a second note, like a
bank would, like a first mortgage and a
(14:08):
second mortgage.
And I hold that note for $60,000.
I can put interest on that note or
I could keep it at 0% interest.
But then when the homeowner then pays off
the note in a 10-year balloon, I
made the 54 upfront, which is very similar
to the 59 total, plus the equity that
I have in that property actually gets created
(14:29):
into a note.
In 10 years from now, I'll have another
$60,000 check comp.
Plus, because of how the financing works, rent
in that area was like 2,400 bucks,
something like that.
My mortgage on a DSCR loan was gonna
be something like 1,800.
So after fees and whatever, I was gonna
be making $400 a month positive cashflow on
my loan to the seller versus my loan
(14:51):
to the bank.
So I'm making money at the front end
by selling it this way.
I'm making money for the 10 years while
I'm holding it, and then have another payday
when I sell it.
And so we're really leaning into that concept
even further.
And I know this is a little more
advanced, so I apologize, guys.
But I really love the BRRRR model for
this reason, is you can get paid on
the front, in the middle, and during the
(15:11):
back, if you get a little bit more
creative on how you're selling it.
Again, all this is in the book, but
yeah, I'm just leaning into that.
If you are buying it through the BRRRR
method, and you're making the initial purchase, you
mentioned DSCR, is that your primary go-to?
Because I mean, there's loans for different purposes.
Like if you're doing a fix and flip,
you might do hard money fix and flip
financing.
But if you're going to buy it, it
doesn't need a lot of rehab, and you're
(15:31):
going to keep it long-term, what kind
of financing do you usually recommend for your
students?
Because I imagine that's one of the biggest
objections.
Like when I talk to people about real
estate in our world, they want the money
to get in.
That's the biggest concern they have.
That barrier was removed, they get in.
So what are you teaching your students about
the initial money they need to do the
initial purchase?
Yeah, I mean, so it just depends.
Always need some level of money, regardless if
(15:53):
you're rehabbing it or buying it as a
rental.
So I always talk about raising private capital.
Like I said, my wholesaling and fix and
flip company makes me a lot of money,
but I don't use it for that.
I have a structured system on how I
go out and raise capital.
So let's just say I went to you
and, hey, Ty, I have property one to
the main street.
We're going to need $60,000 on it.
I'm going to give you 10% interest
and you're going to be protected by the
asset itself.
(16:14):
Well, Ty might have some money and he
wants to get in the real estate game,
but Ty has a banker's job and works
behind a desk all day and doesn't have
time to do this.
But this ties them to kind of being
a part of our world.
It's a sexy world, right?
It's fix and flipping and real estate.
So it ties Ty to that in this
example.
And so a lot of people just want
to be around that, right?
(16:34):
They want to be a part of the
action.
Not to mention the stock market is volatile,
interest rate and people have retirement accounts that's
losing money.
And so not to mention I'm giving a
great return, right?
But I lead really with the ability to
be a part of my world.
If I'm following what you're doing, like how
feasible is it to get to a point
where I'm doing one of these deals every
month, like as I get started?
(16:56):
I would say it's feasible as it is
of how much time you put forth.
You don't need a lot of money, but
how much time are you investing?
You're going to spend something.
You're going to spend money or you're going
to spend time.
In some cases, you're going to do both,
but it comes down to how much time,
how many offers are you making, right?
Are you calling agents?
Are you reaching out to homeowners, right?
What is it that you're doing?
But I had a guy in 2024 specifically
(17:17):
join my community, my coaching community.
And he worked as a car salesman and
he was making multiple six figures.
Within three or four months, he quit his
job because he was able to get a
deal and saw another deal coming.
He was like, oh, if I could do
this full time.
So at the end of the year, he
looked back and he did like 17 deals
in the 12 months.
So it's not a couple of months, but
(17:39):
it created 17 deals.
And I want to say he averaged $15
,000 thereabout.
So he basically learned that he could replicate
his income, be on his own time, be
an entrepreneur, have tax write-offs, right?
And do it his own way versus going
to the car dealership on every weekend.
He has two kids, right?
He's like, oh my God, even if I
made a $50,000 less, this is worth
(18:01):
it because I have my weekends back.
I have time with my kids and my
family, right?
And so, yeah, I mean, I think it's
very viable, just how much work you need
to put in.
I like the fact that you say time
and work because so many people will hear
somebody come on the show like what you're
talking about and they think it's easy, right?
And we know it's not easy.
So let me ask you this, where is
the time component?
Like when I'm getting in and let's say,
(18:21):
I want to get into wholesaling, I want
to get into flipping.
Where is the time component of that process?
So I'm going to use another example, Mo.
He is a part of my IREILIVE.co.
He has two jobs, two to pay his
bills, two full-time jobs, right?
This year, and today as we record, it's
January 15th, he has contracted five deals.
He has sold one already as a wholesale
(18:42):
deal that I helped him sell.
He has three others that are going out
and marketing.
And today he texted me already saying, I
have another deal I think we're going to
be able to contract in Dallas.
If anyone has excuses, it's him.
He has two full-time jobs.
I mean, he literally finds time in the
morning and find times at night.
And it's always about, it's never about the
resources, but it's about being resourceful.
(19:02):
So he, for example, on his second job,
he's literally texting me while texting the agent
about this deal in Dallas.
Because remember, IREILIVE.co is me helping you
genuinely do the deal, not just teach, right?
Not just coach.
That's why it's $197, not 10 grand.
I say that because he finds the time.
He's resourceful, right?
So a lot of people will make you
(19:23):
the excuse, yeah, but Justin, I have kids.
I have work.
I have a husband.
I have a wife.
Well, pick your heart.
Is it hard to be broke?
Absolutely.
Is it hard to sacrifice personal time to
make money so you can create more time?
Absolutely.
But what heart are you going to pick?
Because they're both hard, right?
So in his case, he's fed up working
two jobs.
(19:44):
Absolutely fed up.
And he's like, I'm willing to sacrifice whatever
I need to sacrifice to at minimum quit
my first job, but ultimately quit them both.
And so I tell people like morning and
night, you got kids, you have a husband,
you have a wife, you have a job,
like find the time.
I woke up at 3 a.m. today,
Ty.
I'm not saying that to brag.
I'm saying that because I have so much
(20:04):
on my plate, I have to find the
time, right?
And so part of that is also, part
of that time is for me, right?
I need quiet.
I don't know if you have kids, I
need mental space to just go because I
have a lot going on, right?
Not just real estate and coaching and I
have a tech business and just everything.
Two kids, wife.
(20:24):
So I say that to say, you just
find it.
And people are like, oh, I'm not a
morning person.
I like to stay up late.
Well then what are you doing when you
stay up late?
That's the question.
So if I have the time to commit
and I'm looking at, let's say wholesaling, is
that do I spend a lot of my
time that I do have?
Do I spend it on finding the right
property?
Do I find it on the marketing side?
Do I spend a lot of time on
(20:45):
negotiating with the seller?
Is it finding the buyer?
Like where is most of the time?
I'd imagine it's front heavy on trying to
find the right deals where I'd probably commit
most of my time in the process.
That's right.
You're exactly right.
Because a deal will find buyers.
So people are like, oh, I need to
make sure I have a buyer for, no,
no, no, go find a deal.
Like if you find a deal, you can
go to a Facebook group and say, hey,
(21:05):
I have 123 Main Street.
Does anyone want, like, it'll be sold in
a second, right?
So spend your time working the deal.
Now, how do you do that?
Well, if you don't have money and I'm
just gonna make the assumption no one's gonna
come out and say, yeah, I'm ready to
spend 10 grand a month at marketing and
spend all the, agents.
Agents are a valid resource.
People just don't think it's a deal because
it's on the MLS.
(21:26):
It's nonsense.
Absolute nonsense.
I do deals each and every month with
agents, right?
As a part of my business.
So that's a free resource.
The other resource is pull a list and
start smiling and dialing.
Send some direct mail strategically to a very
refined list, very small, 70 people.
The mail costs $1 each, it's 70 bucks.
It's not 700 or 7,000, right?
(21:48):
That's what you gotta do.
I would encourage you guys to work with
other investors, right?
Other investors might have the deal.
So then all you now need to go
do is find the buyer for that deal.
But then you need to understand how to
analyze the property because you think it's a
deal because the wholesaler has it.
You're not using the right word, right?
It doesn't mean it's a deal, right?
A deal is a good deal.
This just might be a property that's under
(22:08):
contract.
So you can definitely find someone like me
and bring a buyer to my property and
I'll happily, we're doing this right now in
Texas.
A local guy in Texas, I know him
very, very well.
He is the guy, he knows all the
buyers.
I called him immediately when we got a
deal under contract, said, hey, think you can
find a buyer for this?
Within two hours, he says, hey, one of
(22:30):
my buyers wants to see it on whatever
day, Wednesday or whatever, right?
So it's always about like, does someone else
have your buyer?
And so if you can go find a
deal from me, cause you see it, go
find a buyer for that person.
So Justin, I've been in businesses before where
the decision of who you pursue, let's say
the customer wise is, I did it wrong
and then it cost me and then I
lost a lot of time.
(22:51):
Same thing with real estate and markets, right?
So you're in Miami.
I mean, I can imagine you're probably not
spending less than 300K.
That's probably not your main investment market.
I could be wrong because Miami is a
little bit expensive.
So like, how do you choose and how
do you help your students choose the right
market to go into?
Or, cause I imagine spreading all over the
(23:12):
place, trying to go all over the country
doesn't make sense.
So how do you help them narrow down
the right market to target?
Yeah, so my first answer is usually just
follow me cause I'm a real buyer also,
right?
So I buy and flip, I buy and
hold and I wholesale, right?
And so I like to work in certain
states.
I like to buy properties in certain states.
The Carolinas, both of them, Florida, typically Northern
Florida, Mid to Northern Florida, Alabama, Georgia, Tennessee,
(23:37):
Texas, and Oklahoma.
So I usually will tell my students in
REILive.co, I say, follow where I'm at.
Pick those states in general and then start
picking cities in those states, right?
I mean, you think of a Florida or
a Texas, even Alabama has three pretty major
cities from Huntsville to Mobile to Birmingham.
I mean, you have options.
North Carolina, you have Asheville and Greensboro and
(23:58):
Charlotte and Raleigh, like there's options.
So I say, I'm a buyer in these.
You're already gonna be using my buy box
cause you're a part of REILive.co. Like
just follow me and find me a deal.
Let's use it that way.
And if I don't want to buy it
because maybe the economics don't work or whatever,
the rehab project too big, let's just wholesale
it.
But just follow me cause that's where the
money's flowing.
(24:19):
Follow the money.
Justin, great stuff today.
Where can everybody go?
I think we've already talked about REILive.co
and then where can everybody go to learn
more?
Is that the main place that they should
go to be able to learn more?
Yeah, go there, but also you can go
to my Instagram.
So it's really me.
I'm not, I don't have some bot talking
to everybody.
If you go to Instagram, the Justin Colby,
the Justin Colby and hit me up.
(24:41):
And what I would encourage you just for
this podcast, let me know you heard me
on Ty's podcast, right?
Say what's up, just heard you with Ty
and let's have a conversation.
You know what I mean?
I'm a normal guy.
I'll happily answer your questions, but just let
me know you heard me with Ty, the
Justin Colby on Instagram.
Perfect, I appreciate it.
Justin, thanks for coming on with us today.
Right on brother, appreciate you having me.
All right, so listen, if you're watching this,
you can find Justin on Instagram, as you
(25:03):
just said.
A couple other actions I want you to
take.
First, make sure you just go grab his
book because if you really want to take
the next step, then help him be able
to help yourself and help him.
He's already an Amazon bestseller, so he doesn't
necessarily need your help, but it's still going
in and buying the book gives him support.
And then it also helps you.
I find that books really help you outline
the process.
I mean, in a way that we weren't
able to get into all today because we
(25:24):
only have 30 minutes, right?
So that will give you a lot more
insight and depth and help you realize, yes,
this is something I definitely want to do.
And you can get that book at FlippingToWealth
.com.
That's flipping the number two.
So FlippingToWealth.com.
So make sure you check that out besides
finding Justin on Instagram.
The next thing you want to do is
you make sure that you go to REILive
.co. Look, I don't know about you.
I've had a lot of guests on the
podcast throughout the years we've been here.
(25:45):
We're like at 900 something guests, right?
But I've never had anybody that ever has
a program where you can go in and
see the whole thing and they're working deals
with you, right?
Like they're coming in.
And again, the way it's structured, Justin benefits
as much by that deal getting done as
you do, right?
It's a split.
So he has every motivation to help you
get the deal done.
And I love that when somebody else is
(26:05):
invested as you are, because again, like he's
as vested as you are.
So again, he only wins when you win.
So make sure you check it out.
That's REILive.co, REILive.co, dot C-O,
right?
So make sure you check it out because
this is a really low monthly way to
be able to come in, be able to
get the help you need to actually get
these deals done.
And look, let's be honest, that's the hardest
part.
(26:25):
That's where everybody screws this thing up.
Everybody goes out.
They think they find somebody that wants to
sell and then they put the wrong money
into it.
They do the wrong deals.
I mean, they mess everything up.
Well, this fixes all that.
So you don't make those mistakes.
So make sure you check it out on
REILive.co. So make sure you find Justin
on Instagram.
Go to REILive.co to make sure you
join the community there.
(26:46):
And also make sure you go to flipping2wealth
.com.
That's flipping the number two wealth.com to
get justice.
Thanks very much for tuning in.
Take care.
Have a great day.
You've been listening to the Business Credit and
(27:07):
Financing Show with your host, Ty Crandall.
Watch for our next episode to get even
more insight on financing and growing your business.
And don't forget to check us out online
at creditsuite.com for even more business growth
strategies.
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