Podcast Summary: The 2 Things That Actually Get You Deals (Not Another $20K Course) The Science of Flipping
Host: Justin Colby, Bleav
Release Date: March 28, 2025

Introduction

In the episode titled "The 2 Things That Actually Get You Deals (Not Another $20K Course)," Justin Colby dives deep into the foundational elements that drive success in real estate investing. Moving beyond the allure of expensive coaching programs, Justin shares actionable strategies and personal insights cultivated over 18 years in the industry. This episode is a treasure trove for both budding and seasoned investors aiming to create sustainable income and wealth through real estate.

The Reality of Coaching in Real Estate Investing

Justin opens by addressing a common misconception: that investing hefty sums in coaching guarantees rapid success. Drawing from his extensive experience, he emphasizes that while coaching provides valuable knowledge and strategies, it doesn't automatically translate to immediate results.

"There is success and you can have success, but just because someone is teaching you doesn't mean you're going to immediately find that success."
[02:12]

He reflects on his own journey, acknowledging the pitfalls of traditional coaching models where high fees often do not align with tangible outcomes for the participants.

REI Live Co: A New Approach to Coaching

Intent on fostering genuine success among his community members, Justin introduces REI Live Co, a membership-based platform he launched in January 2025. Priced at $200 per month, REI Live Co offers a collaborative environment where members engage in daily live sessions dedicated to calling homeowners, analyzing deals, and making offers in real-time.

"We do JV splits. Everything is 50/50. It's $200 a month. And we have six calls a week, two to three hours a day, really doing deals."
[02:12]

This model contrasts sharply with his previous approach of charging exorbitant fees for coaching, highlighting his shift towards a more inclusive and results-driven community.

Overcoming Fear and Taking Action

A significant portion of Justin's discussion revolves around the psychological barriers that hinder many aspiring real estate investors. He identifies fear—whether it's fear of rejection, making mistakes, or not measuring up—as a primary obstacle.

"The fear or uncertainty paralyzes people. And then they don't do the simple two things that they need to do to go get a deal."
[11:25]

To combat this, Justin stresses the importance of taking consistent action:

1. Making Calls: Engaging with homeowners and agents is crucial. It's not about cold calling but about initiating meaningful conversations to understand the motives of sellers.

2. Making Offers: The act of presenting an offer is the linchpin in securing deals. Without it, all other efforts may stagnate.

He encourages listeners to audit their daily activities, ensuring they align with these two fundamental actions.

The Big Six Strategy

Justin introduces the "Big Six," a structured approach to managing daily tasks and overcoming procrastination.

1. Three Non-Negotiables: Tasks that must be completed the following day without fail. These are foundational activities that drive progress.

2. Three Must-Dos: Additional tasks that, while not critical, contribute to overall growth and success.

By categorizing tasks in this manner, investors can prioritize effectively, ensuring that essential actions are consistently addressed.

"You want to write down your Big Six...the three non-negotiables that you absolutely 100% must do tomorrow."
[19:38]

This method fosters discipline and ensures that investors remain focused on activities that directly lead to deal acquisition.

Persistence and Patience in Real Estate Investing

Emphasizing the importance of perseverance, Justin shares his personal experiences of both losses and gains in the real estate market. He candidly discusses the setbacks he's faced, including millions lost in certain deals, juxtaposed with tens of millions gained over the same period.

"I've lost millions of dollars in a couple real estate dealings over the last 18 years. Millions. I've just made tens of millions of dollars more over that same time."
[26:32]

Justin underscores that failure is an integral part of the journey. The key is to learn from mistakes, adapt strategies, and continuously push forward.

Adaptation and Innovation

In the ever-evolving landscape of real estate, Justin highlights the necessity of adaptability. He points out that market dynamics can shift unexpectedly, necessitating changes in approach.

"We are trying to figure out what is going to be the best Runway. So you might be asking, well, Justin, what is the best runway?"
[25:44]

Investors must remain open to experimenting with new methods, such as virtually driving for dollars or leveraging data-driven skip tracing services, to stay ahead in the game.

Notable Quotes

• "Just because you have the recipe, just because you have the ingredients in the kitchen, it doesn't mean you're going to make a great meal."
  [02:12]

• "The secret to that is if you have someone doing it with you, you don't have to wonder whether it is working."
  [11:25]

• "Failure is part of the journey, but if you don't quit, give up, or make really stupid decisions, you will ultimately be successful."
  [26:32]

Conclusion

In this episode, Justin Colby dispels the myth that expensive coaching alone can catapult one to success in real estate investing. Instead, he advocates for a hands-on, community-driven approach that emphasizes persistent action, strategic planning, and mental resilience. By focusing on making meaningful connections and offers, and by adopting structured daily practices like the Big Six, investors can navigate the complexities of the market and achieve long-term success.

For those seeking a supportive environment to enhance their real estate endeavors, REI Live Co emerges as a compelling option. Justin's candid insights and practical strategies offer a roadmap for aspiring investors to transform their ambitions into tangible achievements.

Join the Science of Flipping community and subscribe to the podcast for more invaluable insights and strategies to elevate your real estate investing journey.