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Welcome to the Mario Dattilo Show Podcast!
In this episode, Mario talks with real estate investor Justin Colby about his strategies for success. They discuss the single-family home market, including flipping, wholesaling, and buying and holding rentals. He talks about the importance of understanding the math behind real estate investing and offers advice for navigating the current market conditions. Justin also emphasizes the value of investing in education, including paying for mentorship and joining a mastermind group. He encourages listeners to be consistent, achieve mastery, and do the work in order to succeed in real estate investing.
About Justin
After graduating from UCLA in 2003 with an English degree, Justin went directly into business for himself. He has never had a W-2 job. In 2005 he got into real estate by co-founding a brokerage in the Northern California area. Quickly he realized that being a realtor was not for him.
In 2007 he got into real estate investing full-time. 15 years later, Justin has flipped well over 2000 properties, accumulated millions in rental properties, and is an active investor to this day.
His success in real estate led him to start The Science Of Flipping podcast and education company, where he has coached and mentored over one thousand aspiring and active investors. He is a nationally recognized speaker and is on a mission to impact tens of thousands more on financial literacy through real estate.
*Find out more about Mario at MarioDattilo.net
Talking Points:
01:05 How Justin Got Into Real Estate
03:18 Justin’s First Fund Is Now Available
05:15 Flipping, Wholesaling, and Buying/Holding As Rentals
06:06 Justin Explains Novations
08:57 Justin’s Strategy for the Single Family World
10:14 Flipping Homes in Multiple Markets
11:03 The BRRRR (Buy, Rehab, Rent, Refinance, Repeat) Model
11:24 It’s All Just Math
11:39 Justin’s “Personal Bane” Is Contractors
13:13 Justin’s Preference for Using a Property Manager
13:55 Wholesaling and Developing a Buyers List
14:55 Marketing to Buy Homes Across the Country
16:48 Justin Compares Financial Education with University Degrees
20:57 Why Justin Has Spent $75,000 on Education This Year
21:38 Be Around The People Who Have Been Where You’re Trying To Go
22:33 The Highest Performers Invest In Education
22:44 Justin’s Pay-To-Play Philosophy
24:34 Justin Encourages Everyone to Find a Mentor, Join a Mastermind, and Pay-to-Play
24:52 Building a Valuable Network and Taking Personal Responsibility
26:27 “You Just Need to Stay In The Game Long Enough to Win the Game”
28:20 Have Realistic Expectations, Be Consistent, and Achieve Mastery
29:15 The Key is Doing the Work
30:17 Justin on the “Microwave Society”
31:33 Tactics for a Changing, High-Interest Market
35:36 Are Short Sales Coming Back?
38:06 Supply and Demand Is Still Strong
40:05 How and Who Should Get Ahold of Justin
SUBSCRIBE to the Mario Dattilo Show Podcast YouTube Channel:
https://www.youtube.com/channel/UCGGnRDb6pSONGT9PQmbXTbw
Check out this podcast website: MarioDattiloShow.com
Links & Mentions From This Episode:
Instagram: @thejustincolby
YouTube: http://justincolby.tv
Podcast: The Science of Flipping
CEO
After graduating from UCLA in 2003 with an English degree, Justin went directly into business for himself. He has never had a W-2 job. In 2005 he got into real estate by co-founding a brokerage in the Northern California area. Quickly he realized that being a realtor was not for him.
In 2007 he got into real estate investing full time. 15 years later, Justin has flipped well over 2000 properties, accumulated millions in rental properties, and is an active investor to this day.
His success in real estate led him to start The Science Of Flipping podcast and education company, where he has coached and mentored over one thousand aspiring and active investors. He is a nationally recognized speaker and is on a mission to impact tens of thousand more on financial literacy through real estate.
