Flip Talk Rookie Playbook

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 town home 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:

Connect with Justin Colby:

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Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don't forget to tune into our other show: FlipTalk's Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry. 

Join the community of FlipTalk fans on Facebook, YouTube,  and visit our website for even more content, information, and resources about real estate investing. 

Takeisha Hinton is another cool connection I made through Clubhouse, one of my favorite network places to virtually hang out. As a newbie to the real estate space, Takeisha had many questions for me as she begins her journey into REI. In her own words, Takeisha is someone who likes to 'know all of the terminology and rules prior to jumping in'. Quite right, too - you can never be too prepared.

In today's episode, I answer Takeisha's questions on wholesale investigating, how to uncover information available at the local courthouse, and how this differs from county to county. I explain the meaning of probate- that is when a property becomes vacant upon the property owner’s death without leaving due instruction over their assets. I reveal how my own grassroots door-knocking approach with pre-foreclosure lists helped me at the beginning of my REI journey when I had limited resources. I discuss the many ways to find buyers, including using other wholesalers' lists to research those buyers and get on their radar. I also tell you what you can do on the good old internet to reach out and create relationships with buyers in any city you wish.

"If you have no money and your trading time for dollars, then I would say your best bet is to focus on one, maybe two, lists" – Don Costa

"I have found that the ugly or something is the better the result. I don't know why but a postcard that looks like a five-year-old wrote it has been my best performing postcard" – Don Costa

"You think all the pretty glossy sexy looking 'whatever' is going to get the best result? It doesn't" – Don Costa

This week on Flip Talk:

Resources Mentioned:

Connect with Takeisha Hinton:

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Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don't forget to tune into our other show: FlipTalk's Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry. 

Join the community of FlipTalk fans on Facebook, YouTube,  and visit our website for even more content, information, and resources about real estate investing.

Kevin Carroll is the Vice President of Business Development for REI BlackBook. REI BlackBook’s mission is to make marketing and sales the easiest part of running your real estate investing business. They help you leverage all the game-changing automation tools that deal makers use to outspeed the competition.

In today's episode, Kevin talks with me about the steps you need to take to meet Telephone Sales rules, and what can happen if you don’t follow them. We discuss how to comply when conducting cold calling, text message marketing, and ringless voicemails, and why just saying “I’m buying, not selling” doesn’t cover you. Kevin explains what the Telephone Sales rules are and how they have changed over time since they were implemented. He also shares what a trust score is and how it can limit the number of texts you can send out.

"Don't put yourself in a spot where technology can shut down your business.” – Kevin Carroll

On Today’s Episode of Flip Talk:

Connect with Kevin Carroll:

Check out the Inner Circle Elite for a Limited Time!

I’m sure those of you who have never been part of a mastermind have the same question that I have heard over, and over again, and that is what is a mastermind? Masterminds were the game-changer for the elite, the rich, and the successful throughout our history. You need to be part of the right circle if you want to succeed.

If you're doing deals and running a business and haven't found your right circle, then I want to give you that opportunity to check out the Inner Circle Elite. The Inner Circle Elite is an important community to me and I'm looking for the right people to be part of it. If you're interested in learning more, email me at [email protected], and put 'Mastermind' in the subject line. Once we connect, you can come check out what we have to offer, what we're doing, meet the amazing community, and see what it's like to have a circle around you and get all your questions answered firsthand experience.

We'll have a conversation after the meeting, and if it's a fit for you and you're a fit for us, then we'll take that next step. And if it's not, then no harm, no foul. Do not miss this opportunity. I'm not going to extend this opportunity forever. Again email me at [email protected], and put 'Mastermind' in the subject line for this amazing opportunity.

Rate, Review, Learn and Share

Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.

Join the community of FlipTalk fans on Facebook, YouTube,  and visit our website for even more content, information, and resources about real estate investing.

Danny Johnson is a real estate investor, blogger, and host of the Flipping Junkie Podcast. He is also the Founder and CEO of Freedom Driven LLC, a company that helps fellow real estate investors become successful through training, lead generation, and software services. Danny has been in the industry for over 13 years along with his wife Melissa in the San Antonio, Texas area.

In today's episode, Danny talks with me about CRM systems, and why they are extremely important to any Real Estate Investor. Danny explains how CRM help holds yourself accountable for following up with leads, and how the metrics from these leads make it easier to set standards when holding your employees accountable as well. Danny also shares why he developed his own CRM called Forefront and this specific CRM is crucial for all Real Estate Investors.

"A problem pops up, but usually, there were symptoms way beforehand that maybe got ignored because they didn't seem that big." - Danny Johnson

On Today’s Episode of Flip Talk:

Mentioned Resources:

Connect with Danny Johnson:

Check out the Inner Circle Elite for a Limited Time!

I’m sure those of you who have never been part of a mastermind have the same question that I have heard over, and over again, and that is what is a mastermind? Masterminds were the game-changer for the elite, the rich, and the successful throughout our history. You need to be part of the right circle if you want to succeed.

If you're doing deals and running a business and haven't found your right circle, then I want to give you that opportunity to check out the Inner Circle Elite. The Inner Circle Elite is an important community to me and I'm looking for the right people to be part of it. If you're interested in learning more, email me at [email protected], and put 'Mastermind' in the subject line. Once we connect, you can come and check out what we have to offer, what we're doing, meet the amazing community, and see what it's like to have a circle around you and get all your questions answered firsthand experience.

We'll have a conversation after the meeting, and if it's a fit for you and you're a fit for us, then we'll take that next step. And if it's not, then no harm, no foul. Do not miss this opportunity. I'm not going to extend this opportunity forever. Again email me at [email protected], and put 'Mastermind' in the subject line for this amazing opportunity.

Rate, Review, Learn and Share

Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.

Join the community of FlipTalk fans on Facebook, YouTube,  and visit our website for even more content, information, and resources about real estate investing.

Jay Malloy is a wholesaler based in the New Jersey area. Despite being well respected by his previous employer, he was let go from his office job after coming back from vacation, because his "services were no longer needed". This opportunity motivated him to invest in himself and learned how to flip houses. Jay and I were bound to hit it off well since he is a huge advocate for not leaving money on the table by following up on cold leads.

In today's episode, Jay talks with me about his success getting into Real Estate and why he attributes a lot of it to his consistent follow-ups with leads. Jay shares his best lead source is (at the moment) and why he asks some more personal questions when meeting a seller. He also discusses why you need to follow up with cold leads after a year, and how they can change their mind after a long period. Jay also talks about why follow-ups are important for building relationships both in and out of Real Estate.

“People are afraid of that rejection or that resistance that they get, and you gotta be willing to go a couple of steps past comfortable. You have to be willing to do that. Everything that you want is a step or two past comfortable.” - Jay Malloy

On Today’s Episode of Flip Talk:

Mentioned Resources:

Connect with Jay Malloy:

Check out Rehab Estimate

Estimating Rehabs is one of the biggest challenges a real estate investor has, especially when you're new and you don't have the experience behind you. I have found an amazing tool that makes estimating rehabs literally as easy as point and click. Additionally, you can get a really darn good budget for your rehab, and Rehab Estimate gives you estimated care and breaks down the offers that you should make on the property.

It is absolutely a game-changer. And I want you to check it out. So go to flipestimate.io. I am telling you hands down. You're going to want to check out this product.

Rate, Review, Learn and Share

Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.

Join the community of FlipTalk fans on Facebook, YouTube,  and visit our website for even more content, information, and resources about real estate investing.

Tim Oppelt, Founder of Wholesaling PPC, used to work as a digital marketer for Gannett, a $3 Billion multimedia company. He left the company in 2015 to run his wholesaling business full-time. He combined his knowledge of real estate and marketing to generate 100% of his deals online. He is now implementing his systems in markets across the country to bring other investors the same success he has. 

Tim joins me today to talk about SEO and Pay Per Click (PPC) and how they can help your wholesale business. Tim shares some of the mistakes wholesalers make when they invest in PPC with agencies and when trying to do it themselves. Tim explains the most important thing you should do when a lead comes in and why PPC leads are different from other sourced leads. He also provides some resources to help you better understand PPC.

“I look at campaigns all the time to audit them, and a lot of them are just not set up properly because people don't know how to PPC for real estate investors. “- Tim Oppelt

On Today’s Episode of Flip Talk:

Mentioned Resources:

Connect with Tim Oppelt:

Check out Skip Force

Not all skip tracing services are created equally, and I am telling you that you need to have the right one to maximize your profits. Check out Skip Force and it will be a game-changer for you, hands down. I made well over six figures in the last 30-days using this service. Go to skipforprofits.com and check out what they have for you. 

Rate, Review, Learn and Share

Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.

Join the community of FlipTalk fans on Facebook, YouTube,  and visit our website for even more content, information, and resources about real estate investing.

When flipping houses there is always a risk that you could lose money on a deal, but how often do you think you're about to get scammed? Unfortunately, even with my 18 years’ experience of flipping houses, I was very close to falling for a con. I wanted to make sure that I share this experience with everyone, not just so that you can be more careful in the future, but to remind everyone that this type of scam can happen to anyone.

Today, I share how I was almost conned out of $150,000. I share some of the recorded calls I had with this con artist and show how everything in these calls seemed almost normal. I talk about some of the red flags I discovered upon relistening to the recordings I also explain how I discovered this was a con, and what I could have done to see this con a lot sooner.

“It's one of those things that can happen to anyone of us. There was no reason to believe that this person wasn't who they said they were. “- Don Costa

On Today’s Episode of Flip Talk:

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Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.

Join the community of FlipTalk fans on Facebook, YouTube,  and visit our website for even more content, information, and resources about real estate investing.

Eddie Speed is the President and Founder of NoteSchool, a business that educates and trains real estate investors on buying secured notes. He has over 30 years of experience in the discount note buying industry and has purchased over 40,000 real estate secured notes with more than $500-million total value. His experience allows him to provide comprehensive training programs available in home study courses, personal mentorship, and live seminars. Eddie specializes in finance notes, training program design, and real estate consultations.

In today’s episode, Eddie shares his thoughts on creative financing and why it’s trending. He explains how the COVID-19 pandemic will change the way we conduct real estate transactions. He describes his financial structuring technique and how you can structure it in a way that allows you to get a discount. Eddie also discusses his experience in previous market recessions and what he thinks we should expect with the current cycle.

"Knowing how to structure the financing so you can get that discount is the key to business." - Eddie Speed

On Today’s Episode of Flip Talk:

Connect with Eddie Speed:

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Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.

Join the community of FlipTalk fans on Facebook, YouTube,  and visit our website for even more content, information, and resources about real estate investing.

Maria and Julio were managing car lots and making decent money, however, they felt tied to their location and the amount of work put into the business was not worth the reward. Julio decided that now was the best time to fulfill a passion of his and get into Real Estate. They became hooked immediately as soon as they sold their first house. After selling the car lots and fully committing to their new business, they managed to earn over 6 figures in less than a year!

Maria and Julio join me to share how they transitioned from managing used car lots to managing properties and selling houses. They share the dissatisfaction they found from both corporate jobs and having the work long hours at the car lots. They share what it's like working as a couple and how they can delegate work by their skillsets and strengths. They also share some of the mistakes they made in their first closing and what they learned from it. 

“You got to take some risks. You got to put yourself out there. You got to learn to be uncomfortable and be okay with being uncomfortable constantly. “- Maria Valverde

“If I could give any advice to someone starting out it would be: reach out. Don't be greedy. Don't say 'hey like if I partner with somebody, I'm gonna have to pay somebody 50% of the deal. That's the wrong mindset."- Julio Solis

On Today’s Episode of Flip Talk:

Connect with Maria Valverde and Julio Solis:

Rate, Review, Learn and Share

Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.

Join the community of FlipTalk fans on Facebook, YouTube,  and visit our website for even more content, information, and resources about real estate investing.

Scott Bower is the owner and founder of HBSB Holdings, a Phoenix-based real estate company. The company gets its business from the acquisition of distressed retail, commercial, and multi-family properties. He also hosts the #INVESTTHIS podcast, a show that highlights and guests some of the best real estate investors in the industry. During his first year, Scott closed over $2.2-million in deals and has since done 150 residential transactions as well as created a $20-million portfolio.

Today, Scott joins me to share what his life was like before he became involved in real estate and how everything panned out after. He shares his knowledge and expertise on how to grow a real estate business. He discusses what his first year was like, how he handled marketing his business, and the profits he gained. He describes the time his own partner sued him as well as the lessons he learned from it. He also explains some of his business methods regarding postcards and lead generation.

“I still have the cheque; the first dollar I’ve ever made. It’s a constant reminder that it actually works.” - Scott Bower

On Today’s Episode of Flip Talk:

Scott Bower Tips for Getting into Real Estate Investing:

Connect with Scott Bower:

Rate, Review, Learn and Share

Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie PlayBook and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.

Join the community of FlipTalk fans on Facebook, YouTube,  and visit our website for even more content, information, and resources about real estate investing.