The Science of Flipping
The 2 Things That Actually Get You Deals (Not Another $20K Course)
Fri, 28 Mar 2025
Want do to deals TOGETHER? Join our community at www.reilive.co In this episode, I get real with you about what it actually takes to succeed in real estate investing — and spoiler: it’s not dropping $20K on another coaching program. After nearly two decades in this business and coaching thousands, I’ve realized that success comes down to just two things: having real conversations and making real offers. That’s it. I share why most new investors fail, how fear and unrealistic expectations sabotage progress, and why I built REI Live to do the work with you, not just talk at you. If you're serious about getting your first deal — or your next one — this is the roadmap. -- Thank you to our partners for supporting today's episode! Empowered Investor LIVE! - Take control of your financial future with top real estate experts, builders, lenders, and investors. Join Us at Empowered Investor Live – April 4-6, 2025, in Irvine, CA! Spots are limited – grab your ticket now! 👉 Get Tickets Joe Homebuyer – Want to scale your real estate business fast? Get expert training, weekly coaching, and a proven system to close more deals. High achievers even qualify for luxury rewards! Learn more at joehomebuyer.com. 📊 Quality Skip – More accurate data means more deals! Get premium skip tracing for just 6 cents per match and connect with the right sellers every time. Use code "SOF" for 10% off at qualityskip.com! Mando Whole Body Deodorant – Stay fresh and confident with Mando's doctor-developed, aluminum-free deodorant. Clinically proven to block odor for up to 72 hours, it's safe for use anywhere on your body. Use code 'COLBY' for $5 off a Starter Pack! -- About Justin: After investing in real estate for over 18 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, and REI LIVE where he’s actively doing deals with members. He has coached and mentored thousands of aspiring and active investors over the last decade. Connect with Justin: Instagram: @thejustincolby YouTube: Justin Colby TikTok: @justincolbytsof LinkedIn: Justin Colby
Chapter 1: What are the two key ingredients for success in real estate investing?
I've been doing this podcast since 2013, and I want to keep giving you the secret sauces, what to say, how to say it, the strategy, the techniques. Right now, the secret sauce is to get in front of as many people as possible by calling them, having conversations, and figuring out what is their motives of having interest to sell.
Chapter 2: Why do most new investors fail?
Welcome back the science flipping family to another solo dolo episode. Today I have something really important to tell you guys about your journey in success or toward success here in the real estate investing space. And so bear with me because I really want you guys to have long-term success, not just short-term success.
Chapter 3: How can you achieve long-term success in real estate?
So I'm gonna map out really what it's gonna take for you guys to find your way to create income and cashflow with active income, then also to start building out some wealth along the way. So one thing I have seen after well over a decade of teaching people and over 18 years of actively doing this business
Chapter 4: What makes REI Live different from traditional coaching?
is I have seen too many people who come into this space thinking that because they paid a coach $10,000, $15,000, $20,000, $25,000, they're going to have rapid success. Well, I hate to break it to you, but 99% of the time that is not the case. There is success and you can have success, but just because someone is teaching you doesn't mean you're going to immediately find that success.
Now, let me break that down in two separate segments for you. For the better part of a decade, I was one of those coaches who went out and charged $10,000, $15,000, $20,000, $25,000 for coaching. Since January 2025, I have actually changed that. If you go check out REILive.co, it is actually a membership community that every day we go live two to three hours a day.
calling homeowners, calling agents, analyzing deals and making offers. And it's only $200 a month. It's $200 a month because I decided I wanted real success from my members and not just to get rich off of them, but to get rich with them. So in REI Live, we do JV splits. Everything is 50-50. It's $200 a month and we have six calls a week, two to three hours a day, really doing deals.
Chapter 5: Why is taking action essential in real estate investing?
Now, that is a big difference between how I've been a coach for over a decade. For over a decade, I've been charging $5,000, $10,000, $15,000, $20,000, $25,000 for coaching. Now, coaching... Teaches you what to do. It gives you the game book. It gives you the plan. It gives you exactly the recipe and the ingredients, but you still need to be able to make the dish. And that is what I'm speaking to.
That component is where I find more people get frustrated. And roughly 99% of the real estate investing people with interest who are aspiring to be a real estate investor, they quit. They give up. Because just because you have the recipe, just because you have the ingredients in the kitchen, it doesn't mean you're going to make a great meal. You need to put it in the right order.
You need to be able to, you know, have the right measurements, etc. Right. And so what I've really done and what I really believe in now more than ever is this idea of being able to take massive action. So that you can find that level of success. And I didn't want to be the guy that just told you what action. I wanted to do it with you.
So moving forward, if you have any interest in REILive.co, REILive.co, become a member. Join us. We are literally doing calls each and every day, two to three hours a day, analyzing, comping, making offers live in real time. Now, I say that not just to plug that, because honestly, $200 a month isn't some massive financial needle mover for me, but it is because I've learned one thing.
The amount of success I'm getting from the members in this community, and we have about 100, versus the amount of success that I have seen others get by paying myself or others, other coaches, is drastically different. I'm seeing members get success within the first week, two weeks, or even a month, they get their first deal, they get the first check.
And that creates certainty and that creates confidence. The challenge is, if you have improper expectations, and you're expecting that, especially because you cut a big check, especially because you spend 10 grand 1520 grand to some coach, But then they aren't doing it with you and they're just telling you what to do.
Again, it's like giving you the ingredients and giving you the recipe, but you don't know the measurements and you don't know what order you should be putting these ingredients and what order you should be baking the goods. Right. And then not doing it with you. That is where it breaks. So now let's get to this level of success.
As many of you know, I'm constantly on the move, juggling multiple businesses, traveling, and ensuring I get my morning workouts in. Staying fresh isn't just a preference, it's a necessity. But let's face it, after back-to-back meetings, juggling two kids at home, and the hustle and bustle of everyday life, body odor can become an issue. But here's the deal.
Mando has revolutionized how I stay fresh. This isn't just another deodorant. It's clinically proven to control odor better than a shower alone with soap. My favorite scent, bourbon leather. It's fresh, is subtle, and doesn't clash with my clone. And I was surprised by how well the solid stick works, even after an intense morning workout.
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Chapter 6: How can fear hinder your progress in real estate?
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Success is a journey, right? And so for you listening that might be a little bit newer or never done a deal, I would tell you, most people don't give themselves enough runway to actually be successful. Instead, they start judging themselves on the amount of success they find immediately, like within 30 days.
And they start thinking themselves, whether this can happen, whether you're doing the right thing, whether it's working. The secret to that is if you have someone doing it with you, you don't have to wonder whether it is working. You won't have to wonder whether you're doing the right thing. It just is getting done. You will see it.
Now, the mistakes, the challenges, the offers being rejected, the hearing no's, the canceled deals, that is all part of the journey towards your success. Now, for some of you, I don't know everyone's success level or what they want or what they would define, I should say. what success is for them.
I can tell you most people, if you're aspiring, if you're trying to get your first deal, most people would find success to be able to get a deal, your first deal. And so in that sense, then it really is a function of you need to understand, are you actually doing the thing that can get you the deal? So I would ask you, audit what you're doing.
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Chapter 7: What are the steps to getting your first deal?
How many phone calls to homeowners or agents are you making? And then how many offers are you giving? There's really only one thing that can get you a deal and that's the offer. So if I ask you how many phone calls you're making, I'm not asking you to go be a cold caller. I'm not asking you to turn your business into cold calling.
What I am doing is I'm saying, hey, you got to have some people to talk to. You got to talk to some people, agents or homeowners. And then you need to make that offer. The offer is the thing that's going to help you find that success.
And so if you're sitting there saying, oh, I paid so-and-so 20 grand, I paid so-and-so five grand, I paid so-and-so eight grand, but I'm not finding success, then the thing I'll ask you is, are you actually doing the thing that they are telling you to do? Are you actually calling the homeowner? Are you actually calling the agent? And then secondly, are you making the offer?
Now, some of you may not be doing this because of one big catastrophic pain point, and that's fear. And I think we all can recognize many people, the vast majority, have some level of fear that goes along with taking actions. That same thing, that fear, is actually why you need to do it. Because the fear is made up in your own head. Right? The analogy is false evidence appearing real.
You create this fear of hearing no or getting hung up on or someone cussing you out or whatever this fear may be, rejection. And so you get timid, right? The other fear is I'm not doing it right. I don't want to look stupid. I don't want to sound dumb. That's the other side of this fear.
And this is, again, without overly trying to plug it, although I believe in it so much I feel obligated to keep telling you, this is why I created REILive.co, is I want to remove that fear and embed certainty and embed confidence by doing it with you. You don't have to wonder what to say. You don't have to see if you're comping it right.
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Chapter 8: How does community support lead to success?
You don't have to figure out, am I underwriting the remodel correctly? I'll just do it with you. That is why I created it. Because that fear, you pay a coach 10 grand, 15, 20 grand. The fear or uncertainty paralyzes people. And then they don't do the simple two things that they need to do to go get a deal. First, make the call. Second, make the offer.
Those are the two simple things that you need to do to go get a deal. That's it. It's as simple as that. But your fear of uncertainty, your fear of are you doing it right, your fear of getting hung up on, your fear of someone cussing you out, your fear of looking silly or stupid, that paralyzes you. And so I'd encourage you, it is one step at a time.
So if you're not a part of REILive.co, I tell you, join it. Check it out. Join it. Be a part of this community. It's a game changer. But secondly, if you do have a coach, if you have paid someone, then you need to do the one thing each and every day. So I call it the big six. Okay. The big six can help you overcome some of this fear.
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