Justin Colby is the founder of The Science of Flipping podcast. He is a real estate investor and coach focused on investing in the single-family space, helping thousands of people explore their options as real estate investors, and getting involved in the best ways possible. Justin is with us today to give us a little more insight into the single-family industry and what it takes to succeed.
Watch now to learn more about Justin, his best practices, and how you can succeed in the single-family space!
Key Talking Points of the Episode
[00:21] Who is Justin Colby?
[05:15] What is Justin’s family situation like?
[07:02] How did Justin realize he could expand into markets outside his backyard?
[15:26] Why should interest rates not affect your decision to buy real estate?
[16:03] What is the DSCR and how does it affect your investment?
[18:36] Why is it important to be dynamic as a real estate investor?
[19:21] Why should you be in real estate for the long haul?
[20:32] What is the importance of owning at least one rental property?
[22:24] What does Justin’s real estate team look like today?
[23:30] How can operating your business virtually help you achieve your goals?
[24:49] What are the benefits of working with a smaller, more productive team?
[27:10] How is Justin’s business benefitting from the virtual setup?
[29:10] How important are your relationships to your success?
[34:30] Where does Justin’s passion for this business come from?
[36:25] What should your money mindset be like if you want to succeed?
[40:28] What is Justin’s advice to real estate investors today?
“You don’t have to be doing this in your backyard. Pick the area, follow the money, go where the big boys are going.”
“I think when we over-engineer a process or system, it actually removes your ability to be flexible and being able to adapt to different things.”
“My first mentor in the space basically said every meeting is important, even if it doesn’t put a check in your pocket.”
Instagram: Justin Colby
Youtube: Justin Colby
Website: RCN Capital
Website: REI INK