Exploring Opportunities with the Reverse Flipping Strategy w/Justin Colby

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Episode Description

Welcome to the Freedom Point Real Estate podcast! In today's episode, Jeremy Dyer welcomes Justin Colby to share about building trust with private investors and within your circles, the value of pursuing knowledge and taking bold, consistent action, and so much more.

Justin is a seasoned real estate investor with over 17 years of experience and nearly 3,000 deals. He generates seven-figure income through wholesaling and fix-and-flip projects while accumulating millions in rental properties, including apartments, single-family homes, and a storage facility. His success stems from adaptability, lead generation, and raising private capital. Justin also founded The Entrepreneur DNA and The Science of Flipping podcasts, where he has mentored thousands of investors. A nationally recognized speaker, he's committed to educating others on becoming successful real estate investors through his coaching and speaking engagements.

CONNECT WITH JUSTIN COLBY!

Website: https://thescienceofflipping.com/

LinkedIn: https://www.linkedin.com/in/thejustincolby/

Instagram: https://www.instagram.com/thejustincolby/?hl=en

Youtube: https://www.youtube.com/JustinColby

CONNECT WITH JEREMY DYER!

Website: https://startingpointcapital.com/

Instagram: https://www.instagram.com/startingpointcapital/

LinkedIn: https://www.linkedin.com/in/jeremydyer

Facebook: https://www.facebook.com/startingpointcapital

Book a Call! https://calendly.com/startingpointcapital/discuss-investing-with-jeremy-dyer?month=2023-12

Summary

Tip #1: Leverage Your Circles of Influence

"You have three Circles of influence: inner circle, outer circle, and social circle.”
Justin explains that building trust with investors begins by understanding your different circles of influence. The inner circle includes close family and friends, the outer circle involves colleagues and acquaintances, and the social circle encompasses a broader online network. Using this framework, investors can nurture relationships in each group to build a solid foundation of support and interest in their ventures.

Tip #2: Stay Consistent in Showing What You Do

"All you have to do is show what you're doing...if they know who you are and know what you do, your take rate of them accepting the opportunity is going to get to like 80 to 90%."
Justin’s emphasis on transparency in action resonates especially on social media, where visibility builds familiarity and trust. Regularly showing up and sharing updates helps create a sense of reliability and professionalism, which, in turn, attracts investors. Consistent updates can transform passive followers into active investors when opportunities arise.

Tip #3: Don’t Quit Too Early

"New investors quit too early...they have improper expectations on the result time."
One of the biggest pitfalls for new investors is giving up before they see results. Justin advises setting realistic expectations around how long success takes, particularly when dealing with the real estate market’s ups and downs. With persistence, these early struggles become valuable learning experiences, setting the stage for future achievements.

Tip #4: Take Action Even When It’s Uncomfortable

"Action creates uncomfortability...but somewhere in adulthood, we get beaten down by shame and fear."
Action is crucial for growth, even if it feels awkward or uncertain. Justin highlights how adults often avoid action due to the fear of failure, unlike children who embrace the learning process. Overcoming this fear and stepping out of the comfort zone can create new opportunities and help investors gain confidence.

Tip #5: Remove Time Expectations on Results

"If you remove the time expectation of getting your first deal...then you'll just never give up."
Success in real estate doesn’t adhere to a fixed timeline. Justin’s approach emphasizes focusing on steady progress instead of quick wins. Without a strict timeline, there’s no sense of urgency to abandon ship when challenges arise, making it easier to stay committed and eventually see returns.

Tip #6: Build Impact by Serving and Mentoring Others

"Now I have a passion to help...creating a very similar scenario for others that I was given."
Justin's dedication to giving back, whether through mentorship or content creation, enhances his reputation and reach. Helping others not only builds a positive personal brand but also fosters reciprocal support, positioning investors as trusted figures in their networks.

Tip #7: Use Pain Points to Connect with Your Audience

"My dad, for example...he's the same guy that ends up having to borrow money from me."
Sharing relatable struggles helps connect with a wider audience. Justin’s story about his father highlights the value of social media even in unexpected ways. Personal stories like these create relatability and trust, making listeners feel understood and more inclined to connect.

Tip #8: Embrace Consistent Learning and Mentorship

"I still have a budget of six figures to pay for coaching and masterminds every year."
Continuing education is essential, no matter your level of success. By investing in learning and surrounding himself with mentors, Justin reinforces the importance of always seeking growth. This mindset helps prevent stagnation, ensuring that each year brings new knowledge and strategies.

Tip #9: Tip #9: Be Ready for Trends but Focus on Core Values

"I’m hellbent on helping people through this financial challenge...but in the next five years, my goal is 3,000 doors personally."
While trends will always shift, Justin encourages listeners to remain focused on their own goals, adapting to current market opportunities without losing sight of long-term objectives. In uncertain times, staying true to core goals provides clarity and helps guide strategic decisions.

Tip #10: Create Impact Through Transparency

"I'm constantly posting on Instagram and YouTube...showing people the deals I'm buying and why I'm buying them."
Transparency in sharing actual deals and decisions is a key element of Justin’s approach. By detailing his process on social media, he builds a reputation as a knowledgeable and credible investor. Openly sharing insights creates educational value, which attracts and retains a loyal audience eager to learn and grow.