When it comes to navigating the intricate world of real estate investing, Justin Colby Review’s coaching program, “The Science of Flipping,” shines as a guiding beacon. This comprehensive program equips and mentors its students in five distinctive real estate investment strategies, offering a diverse array of avenues for financial success.
In this in-depth review, we will delve into the authenticity of this coaching program and its creator, the invaluable insights it imparts, and the achievements of its students. Additionally, we will draw a comparison between Justin’s real estate flipping business opportunity and an innovative digital real estate model that generates passive income by leasing web properties to small enterprises.
Unveiling Justin Colby
Before we explore the nuances of the “The Science of Flipping” program, let’s take a moment to get to know the driving force behind it – Justin Colby. Based in Scottsdale, Arizona, Justin’s journey in real estate began after earning a Bachelor of Science degree from UCLA in 2003. At the age of 26, he ventured into the real estate brokerage industry in Northern California, experiencing both success and setbacks. In 2007, he relocated to Scottsdale, Arizona, and embarked on a career path focused on wholesaling and flipping properties.
Since his entry into the real estate domain, Justin has successfully executed over 1400 deals across multiple states. He served as the Vice President of Sales for Real Estate Worldwide from 2015 to 2017 and has held the position of President at Phoenix Wealth Builders, a real estate solutions company in the Phoenix market, since 2012. In addition to his multifaceted real estate endeavors, he has served as the Regional Market Manager for Sundae, a platform that connects property sellers and buyers, since 2019.
In 2012, Justin founded “The Science of Flipping Coaching Program.” His contribution to the field extends beyond coaching, as he authored the acclaimed book, “The Science of Flipping: A Proven Formula For Successful Real Estate Investing,” in 2014. Justin is also an active figure in the podcasting sphere, sharing his wealth of knowledge with a broader audience.
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Pros and Cons of “The Science of Flipping Coaching Program”
- Vast Expertise: Justin Colby’s extensive experience in real estate investing is a cornerstone of this program, ensuring that students learn from a seasoned professional.
- Abundant Resources: The program offers a free account with access to a treasure trove of informative training materials, resources, and software tools.
- Step-by-Step Guidance: Students benefit from meticulous training materials covering a range of strategies, allowing them to select courses that align with their goals.
- Realistic Expectations: “The Science of Flipping” doesn’t promise overnight success but instead sets realistic expectations, emphasizing the need for time and resource investment.
- Supportive Community: The program includes an exclusive Facebook group with over 12,000 members, fostering a supportive community for networking and learning.
- Price Transparency: The program lacks transparency regarding coaching membership costs, potentially leaving prospective students uncertain about their financial commitment.
- Separate Course Purchases: Each course within the program requires individual purchases, potentially resulting in added expenses for those seeking comprehensive training.
- Lack of Proof of Funds: Unlike some other real estate wholesaling coaching programs, “The Science of Flipping” does not provide proof of funds to aid students in securing deals.
What’s Included in “The Science of Flipping Coaching Program”?
To get a taste of what “The Science of Flipping” offers, you can create a free account and gain access to a wealth of valuable training resources. The free account includes:
- Insider Resource Library: This repository houses the best systems and software tools, many of which offer free 7-day trials.
- Insider Toolbox: A toolkit comprising blueprints, scripts, forms, calculators, and more essential resources for aspiring real estate investors.
Beyond the free account, students can choose from various training courses, each tailored to specific needs:
- Science Of Flipping Insider Academy: A free training course.
- The 5 Day Deal Challenge: Priced at $55, this course spans five lessons with a bonus lesson, guiding participants through their first deal within five days.
- The Facebook Flip Formula: For $27, students gain access to six lessons and four bonus lessons, focusing on finding buyers and closing deals on Facebook.
- The REI Masterclass: Priced at $97 or $1 for a 14-day trial, this course offers 30 lessons, unveiling strategies, systems, and secrets from leading investors in the United States.
- The REI Masterclass EVENT Recordings: Available for $74, this offering provides recordings of a live event held on June 24-25, 2022, featuring insights from top real estate investors.
- The Science Of Flipping Academy Premier: Priced at $497.00, this comprehensive course comprises 73 lessons, offering full training and coaching on launching, growing, and scaling a real estate investment business.
- Wealth Accelerator Recordings: For $47, students can access recordings of the March 11-12, 2022 live event, featuring insights from leading industry figures.
For those interested in premium coaching memberships, specific details and pricing can be obtained through a discovery call.
Unlocking the Path to Success with “The Science of Flipping Coaching Program”
“The Science of Flipping” doesn’t just teach real estate strategies; it empowers students with the knowledge to excel at every step of the real estate investment journey. Here’s an overview of what students learn:
1. 5 Exit Strategies
Before diving into real estate deals, students are equipped with knowledge about five exit strategies:
- Wholesaling (Cash Offer): Swift transactions with no additional fees for the seller beyond the agreed offer.
- Wholesaling (MLS Listing): Purchasing properties through escrow and promptly listing them on the Multiple Listing Service (MLS).
- Rehabbing: Acquiring properties, renovating them, and selling them at a profit.
- Buy and Hold: Purchasing properties for rental purposes.
- Creative Financing: Non-traditional financing methods for property acquisitions.
2. 4 Types of Properties
Understanding the nuances of different property types is crucial:
- Single-Family Properties: Independent residential structures on private property, suitable for rental and rehabbing strategies but less ideal for scaling due to limited economies of scale.
- Duple, Triplex, and Fourplex: Residential properties with five doors or more, categorized as commercial. While they offer better economies of scale, they come with higher costs and complexities.
- Condos: Individually owned units in residential complexes, suitable for Airbnb rentals in prime locations but accompanied by HOA dues and limited financing options.
- Apartments: Self-contained residential units within larger buildings, providing excellent economies of scale but requiring significant investment and management efforts.
3. 4 Market Segments
Selecting the right exit strategy hinges on understanding four distinct market segments:
- War Zone: Unstable markets where wholesaling is the optimal exit strategy.
- Lower Income Segment: Ideal for various strategies due to its diversity.
- Middle Income Homes: Suited for all exit strategies, catering to blue-collar residential properties.
- Luxury Segment: Best for wholesale and rehabbing exit strategies, focusing on high-end residential properties.
4. Finding Sellers
To generate leads without significantly increasing marketing budgets, students are guided through three key strategies:
- Door Knocking
- Cold Calling
- Ringless Voicemail
Justin emphasizes combining these strategies for maximum impact, emphasizing that marketing success is built on multiple touchpoints.
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5. Comping Properties
Understanding how to assess property values is essential, and Justin recommends using free tools like Redfin and Zillow to cross-check property information. Checking building sketches to identify non-permitted additions is also advised. The program includes guidance on using a comp calculator to make appropriate offers, typically aiming to sell properties with a 10% markup above their value, allocating 6% for real estate commission, and 1-2% for closing costs.
6. Building a Buyers List
Continuous growth of a buyer’s list is paramount, and students are encouraged to leverage free marketing channels such as meetup.com, Facebook groups, Craigslist, Google, and cold-calling realtors. A premium option, “Find Cash Buyers Now,” is also available.
7. 3 Types of Financing
Students are introduced to three types of financing:
- Deed of Trust: Relevant in trust states, it involves transferring property ownership to a third party as security for the borrower’s debt to the lender.
- Promissory Note: Involves the borrower’s promise to repay a specific amount over a defined period, with terms outlined in the deal.
- Mortgage: Involves pledging property as collateral to secure a debt.
Success Stories and Reviews
What truly matters is the outcome for students of “The Science of Flipping Coaching Program.” An extensive search reveals a plethora of success stories, replete with images and videos, scattered across their platform.
Remarkably, no complaints or negative reviews have been unearthed during our investigation. Trustpilot.com, host to 154 reviews, all sing praises of the program, collectively awarding it a perfect score.
The overwhelming positivity can be attributed to Justin Colby Review and the program’s commitment to realism. Rather than making lofty promises of guaranteed success, they emphasize the value of hard work and dedication. A glimpse into one of Justin’s coaching calls demonstrates his knowledge and motivation, reinforcing the program’s ethos.
Is House Flipping Challenging in 2022?
The real estate landscape in 2022 presented its own set of challenges. Housing price growth had decelerated, affecting affordability for both buyers and sellers. While a substantial drop in housing prices seemed unlikely, the reduced number of transactions posed challenges for real estate investors, especially wholesalers and flippers. Buy-and-hold investors faced comparatively fewer obstacles.
However, achieving financial freedom through real estate investment remained attainable but demanded a proactive approach. Strategies included exploring less competitive markets, innovative marketing tactics, and treating real estate investment as a full-time commitment. For beginners, establishing a profitable real estate business required dedication and effort.
Exploring a Digital Real Estate Alternative
For those seeking alternative paths to financial success, there exists a business model akin to real estate but with a digital twist. In this model, you take on the role of a digital landlord, where businesses pay rent for leads generated through your digital properties, minus the physical properties.
The process can be summarized as follows:
- Build and Rank Your Site: Create and optimize websites that rank on Google, generating leads.
- Monthly Rent from Local Businesses: Local businesses pay a monthly fee for the leads generated through your digital properties.
Ranked sites on Google have enduring visibility, offering the potential for long-term passive income. If this alternative piques your interest, explore the possibilities of Local Lead Generation, which may present a compelling avenue to financial success.
In conclusion, “The Science of Flipping Coaching Program” by “Justin Colby Review” offers a comprehensive education in real estate investment, backed by his extensive experience. While challenges persist in the real estate landscape, success remains achievable with dedication and the right strategies. Moreover, the digital realm presents intriguing opportunities for those seeking alternative avenues to financial freedom.
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