The Science Behind Success in this Business with Justin Colby

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By Don Costa and Don Costa - Real Estate Investing - House Flipping - Wholesaling - How to F. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Justin Colby is the Founder of The Science of Flipping Podcast and the Science of Flipping Coaching Program, programs to help you launch, grow, and scale your investment business by avoiding the mistakes others make. After graduating from UCLA with a BS in Science, Justin quickly decided to pursue a real estate career after connecting with a North Carolina developer. Having flipped over 1500 homes in multiple markets, Justin is now a coach and mentor for thousands of ambitious real estate investors and is a Rockstar national public speaker. He is considered one of the best trainers in his space and is with us today to share a little of his magic touch.

In today's episode, Justin discusses his real estate journey, which started well before becoming a 'statistic of the crash,' losing his home and car to the repo man and finding himself sleeping on a friend's couch. He reveals how going back to basics to get himself a game plan with a coach gave him a blueprint to flip houses and bounce back tenfold. We discuss the effort and patience required to seal your first deal and why Justin thinks procrastination is the biggest hurdle to success. He also discusses his real estate forecasts for the coming months, the effect COVID 19 has had on his current business model, and why you always need to be ready to pivot when something unexpected comes up.

"You gotta be able to take action and have the fortitude to withstand the failures" – Justin Colby

"You need to want it because it can create an incredible lifestyle for you, but you also have the challenges that come along with it" – Justin Colby

"There's no way you can become the person that you're meant to be without failing" – Justin Colby

"The 79-unit townhome development that I did lost hundreds and hundreds and hundreds of thousands of dollars. It was terrible. But the amount of learning lessons that came from that is basically priceless" – Justin Colby

"When COVID did hit, I immediately made a pivot again because of my experiences in the past. I saw something I've never seen before, and I knew I couldn't just continue doing my business model that is running in a very linear way. When something that comes in that has never been seen you have to be mobile" – Justin Colby

This week on Flip Talk:

  • Justin's journey from boom to bust to boom again
  • Why the hard work on cold calling pays off
  • How the crash taught Justin to pivot
  • Procrastination and why you should kick its butt
  • Why failure will be your most valuable lesson of all
  • Why you should quality check your data

Connect with Justin Colby:

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278 episodes