Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Blog Pricing

Justin Colby

๐Ÿ‘ค Speaker
See mentions of this person in podcasts
5315 total appearances

Appearances Over Time

Podcast Appearances

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

Let's go. So I've been an entrepreneur since I got out of college. Graduated in 2003 and went straight to door-knocking sales. Turned that into a business-to-business door-knocking sales company. Caught pneumonia because I was doing it in Boston, Massachusetts. Then turned that into the real estate empire I have today, but it didn't come without a cost. Lost my home to foreclosure.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

Let's go. So I've been an entrepreneur since I got out of college. Graduated in 2003 and went straight to door-knocking sales. Turned that into a business-to-business door-knocking sales company. Caught pneumonia because I was doing it in Boston, Massachusetts. Then turned that into the real estate empire I have today, but it didn't come without a cost. Lost my home to foreclosure.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

RuPaul man took my car, sleeping on a couch, and just decided what I wanted, which is the life I have today and who I needed to be to get it. So the last 18 years, I've been grinding it out, working, hustling, putting together systems, operations, and built what I have today.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

RuPaul man took my car, sleeping on a couch, and just decided what I wanted, which is the life I have today and who I needed to be to get it. So the last 18 years, I've been grinding it out, working, hustling, putting together systems, operations, and built what I have today.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

Oh, yeah. That's it.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

Oh, yeah. That's it.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

All that. I mean, at the end of the day, the biggest hurdle I think people think about, and it's a myth, is that you need to have money or you need to have credit. You can fix and flip homes today, right now, in Miami or Scottsdale or anywhere you want with no money and no credit. I do it still to this day. I have money. I have credit. I still don't utilize them on transactional real estate.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

All that. I mean, at the end of the day, the biggest hurdle I think people think about, and it's a myth, is that you need to have money or you need to have credit. You can fix and flip homes today, right now, in Miami or Scottsdale or anywhere you want with no money and no credit. I do it still to this day. I have money. I have credit. I still don't utilize them on transactional real estate.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

That is different when I buy apartments. It's different when I buy storage, et cetera. But the biggest myth I do believe on the transactional side is people think they can't get in. They can't flip homes. They can't do whatever because they don't have the cash. Not true. I've proven it time and time again.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

That is different when I buy apartments. It's different when I buy storage, et cetera. But the biggest myth I do believe on the transactional side is people think they can't get in. They can't flip homes. They can't do whatever because they don't have the cash. Not true. I've proven it time and time again.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

I've been coaching for 13 years exactly how to do it without any of your own cash and credit. Anyone can do it in any city sitting from the couch. I mean, this is an industry literally very similar to what we were talking about social media. Real estate you can do anywhere. You don't have to live in the city, which is another myth. Like, I don't know if my market's the best market.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

I've been coaching for 13 years exactly how to do it without any of your own cash and credit. Anyone can do it in any city sitting from the couch. I mean, this is an industry literally very similar to what we were talking about social media. Real estate you can do anywhere. You don't have to live in the city, which is another myth. Like, I don't know if my market's the best market.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

You don't have to live there. You could be on a beach in Fiji or Thailand living incredibly well and doing deals in, you know, Oklahoma. Doesn't matter. So that is another thing is people have to realize like this is as virtual of a business as you have ever wanted, especially if you're not fixing flipping. If you're transaction wholesaling, you could do it absolutely anywhere.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

You don't have to live there. You could be on a beach in Fiji or Thailand living incredibly well and doing deals in, you know, Oklahoma. Doesn't matter. So that is another thing is people have to realize like this is as virtual of a business as you have ever wanted, especially if you're not fixing flipping. If you're transaction wholesaling, you could do it absolutely anywhere.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

I wouldn't encourage fixing flipping virtually until you have some some resume behind you, to say the least.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

I wouldn't encourage fixing flipping virtually until you have some some resume behind you, to say the least.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

Yeah, that is a very transactional. You don't need any money, period, anybody's money. You don't need any credit. There's no loans. You are essentially assigning your interest in the contract over to another buyer. So like this is very common in a lot of different industries. Most notably is the car industry. Assignments are very common there, right?

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

Yeah, that is a very transactional. You don't need any money, period, anybody's money. You don't need any credit. There's no loans. You are essentially assigning your interest in the contract over to another buyer. So like this is very common in a lot of different industries. Most notably is the car industry. Assignments are very common there, right?

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

But you are contracting a property with a homeowner. And then that interest in that paperwork, you are assigning over to another buyer. So all the terms of that paperwork transfer over to the other buyer and you take a fee in the middle to do so. And so to some extent, it's similar to being a realtor, even though a lot of realtors hate us. They think we're stealing their business.

The Money Mondays
Focus on ONE Skill Or Stay Broke Forever | Adam Sosnick (SoSTalks) & Justin Colby ๐Ÿ’ต EP119

But you are contracting a property with a homeowner. And then that interest in that paperwork, you are assigning over to another buyer. So all the terms of that paperwork transfer over to the other buyer and you take a fee in the middle to do so. And so to some extent, it's similar to being a realtor, even though a lot of realtors hate us. They think we're stealing their business.