The Science of Flipping
[PART 2] The Most Valuable Thing You Can Do for Your Real Estate Business in 2025
Fri, 6 Dec 2024
In this follow-up to the previous episode, I dive deeper into the essential strategies for dominating the real estate market in 2025. The focus is on leveraging data, technology, and automation to identify and secure highly motivated leads, ensuring consistent deal flow and success. If you found the last episode valuable, this one is packed with actionable insights and tools you can start using right away. The #1 training and coaching system to launch, grow, and scale your investing business!ย ๐๐๐๐ซ๐งย ๐๐จ๐ซ๐:ย http://www.thescienceofflipping.com Turn cold real estate leads into engaged motivated sellers on auto-pilot using the power of A.I!ย ๐๐๐๐ซ๐งย ๐๐จ๐ซ๐:ย https://www.rocketly.ai/ Have a question? Ask me anything atย https://www.askjustin.ai/ ๐๐๐จ๐ฎ๐ญย ๐๐ฎ๐ฌ๐ญ๐ข๐ง: 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 Justins 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. ๐พ๐๐๐ย ๐๐๐ย ๐ท๐๐๐ย ๐ฏ๐๐๐ย ๐ป๐ย ๐บ๐๐ย ๐จ๐๐๐๐ย ๐ฑ๐๐๐๐๐:ย โJustin is one of the best trainers in this space. He really gives everything to his tribe.โ โ Brent Daniels (TTP) โJustinโs ability to connect with people and help them understand what he is teaching, is unparallelledโ โ Kent Clothier (REWW) โWe have been in the trenches flipping homes in Phoenix for over a decade, he is one of the best to do it.โ โ Sean Terry (Flip2Freedom) Subscribe To Justin Colby:ย http://youtube.com/justincolby View All My Videos:ย https://www.youtube.com/c/JustinColby
Chapter 1: What is the focus of this episode?
what is up what is up the science of flipping family and i am back with another solo episode because i need to do part two of the last episode i have talked to a lot of you who have said that last episode was awesome and they were waiting for this episode so i'm excited to deliver for you part two on what is going to crush it for you and any real estate investor going into 2025.
Chapter 2: How can data improve lead generation?
Now, as I talked about on the last episode, everything's going to come down to data, technology, and automation. That is going to be the key. And I'm going to start with this conversation about data. I have some resources for you. So you're going to want to write these down. Okay. The very first resource I have for you is called reileadmachine.com. R E I lead machine.com.
Chapter 3: What is REI Lead Machine and how does it work?
Now, the reason why this is probably one of the most brilliant softwares that has ever come out is because within that software, it will actually, um, deliver you the highest qualified lead in, for motivation, okay? Now it's not just like pulling a list for landlords or absentee homeowners.
Chapter 4: How does AI score help in identifying motivated sellers?
There's literally an AI bot running through and scraping data for the last 40 years of real estate transactions. And out of that, there's something like 400 million data points that they are scraping through to figure out what has the highest likelihood of motivation from that seller. And so they call it an AI score.
Now, it gets ranked in three different categories, whether it's going to be a good rental property, whether it's going to be a good retail property, like a listing, or it's going to be a good... Wholesale property. Now, for many of you, you'd probably want to lean towards the wholesale category, right?
And the only reason why is because even if you're a fixing flipper or landlord, you probably want to get the deepest discount. And so the qualification for a wholesale property really is like likelihood of taking the deepest discount, right? Now, you take that data set and you start to market to that data set. Now, REI Lead Machine is brilliant. There's three levels that you can subscribe at.
Chapter 5: What are the benefits of using enriched data?
But even the middle level or the highest level, you can get these lists of AI zip codes, AI counties in the entire state if you want. So if you have a larger marketing budget and you want to be marketing through the whole state, you can absolutely do that. The key to this, guys, is the enriched data. It's going through 400 million data points.
And when I say this, I'm talking like strange data points that it isn't about like, are they a landlord or owner occupied or have they missed a mortgage payment? Those are kind of the more traditional lists that you could have out there. Those are the ones that you could just pull from REI Lead Machine. They also have those lists.
Chapter 6: How does RocketSkip enhance your marketing strategy?
But you want to have the best enriched data as possible so you have the best shot at finding an actual motivated seller. So you want to start with this data point from REI Lead Machine. Now, the second layer to technology that I would encourage you guys to go to is RocketSkip.
RocketSkip is another software that if you take the list from REI Lead Machine, grab the list from REI Lead Machine, and you take the top, let's just say 200 scores. So the way REI Lead Machine works is is it scores people up to 1,000. If a score is close to 1,000, that has a high likelihood of being a good deal.
So let's say you're only going to find people who score 800 or above as a wholesale deal, 800 or above. And so let's say you pull that list in three zip codes, and it produces, let's say, 100 people. Now, that is a highly...
cultivated list right that will find a lot of motivation and you take that list and you then layer on rocket skip which will further go into data sets like you know credit score credit availability um uh you know loans uh what kind of credit cards they have out there how many loans they have and he goes through another round of qualifications really heavily on the property yes and the person
And it will spit out another score saying out of the hundred people you already feel have the best motivation. Then there will be, let's just say, it'll spit out another score up to a thousand. Let's just say out of those hundred, it brings back 30 people.
that are between 800 and a thousand so now you have 30 of the 100 that have even higher motivation okay now what i would tell you to do and this is not going to cost you a lot of money um right so this isn't some big marketing budget then i would tell you is to have a rocketly crm now why that is imperative is this is where the technology and the ai and the automation comes in
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Chapter 7: What role does Rocketly CRM play in communication?
Because you can put this list of 30 people into the Rocketly CRM. You still can put the list of 70 people, but you can put them through a communication automation funnel that can automatically start communicating with these homeowners via email, direct mail, text messages, and you can actually start calling them right through the CRM itself, Rocketly CRM.
So now let's just say you take the 30 people and I'm going to call those 30 people. That's what I would highly encourage you to do. The other 70, maybe you start some of the automation to encourage further communication with those other 70.
But the 30 that they were a part of the REI lead machine data, then they were a part of the rocket skip data, and then you have Rocket Lee CRM, and then you've found the 30 that have... The highest level of, you know, manicured data that you basically are saying these people are selling period hands down. We just got to figure out if we can get to the right number.
Chapter 8: What steps should I take to contact potential sellers?
I'm personally going to tell you to call them. I'm going to call them. Right. Those are the people that you genuinely want to call. And so the rest you can still put through this automation. In fact, the rest you can call to the other 70. You can absolutely be calling. You can send them email. You can door knock them. You can do whatever you need to be doing.
But what is going to make the difference between the successful in 2025 versus the getting some deals done, maybe getting by is leaning into enriched data. technology and automation. Okay.
And I'll say that again, the difference between the people who create ultimate success and have consistent deal flow is they're going to be focusing on enriched data, getting all the data sets to show that these people are going to be highly motivated, then leaning on technology and automation to continue funneling in communication, to continue funneling follow-up, to automate, you know,
offers, and being able to have a sales team that can reach out to the right people, many people. use cold calling as a strategy. I love cold calling. It has always been a part of our business. I built a cold call floor in Phoenix years ago. The challenge you have with something like that is you're getting random leads that sort of kind of maybe want to sell.
Now, by the way, I'm not saying you can't get deals. I still get deals and many of the best of the best still get deals from cold calling. I'm not suggesting you can't. But when you take the approach of super shotgun wide and just hope that you can come up with people that have some motivation versus niching down into a subset of people that through quite literal data from data.
says the likelihood of them selling is 880 or 800, depending upon how you want to look at the numbers, times better that they're going to be selling in a very short window of time. Why would you spend all this time and money targeting the entire state when you can target these 100 people?
And even then, why would you spend all this money and time targeting the 100 when you're really going to subset 30 out of the 100? So I'm not taking away from going wide because in some senses I still go wide. For example, I have TV commercials running. That's a very wide audience for the state of Alabama, right? It's called justinbuysbama.com. You can check out the website. Very wide, right?
And I get a lot of leads that are not perfect leads that essentially are dead leads because they're in rural areas that I don't really care about or they're not really that motivated, right? But they're interested. They're not motivated. They're curious. They're not serious. Right.
So what I'm telling you is those that take what I'm saying right now today to be serious and to have those systems, then to have REI Lead Machine and Rocket Skip and Rocketly CRM and to combine all of that and refine the data and then refine the process of how you reach out to them. And to be able to say, OK, the first round of calls is me.
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