Justin Colby
๐ค SpeakerAppearances Over Time
Podcast Appearances
However, the IRS law, and I am not a licensed accountant, really makes it easy for us to find the strategy to not actually have to pay taxes, including if you are a W-2 employee or you're a full-time real estate investor. And this is incredibly valuable. There's really three reasons all of us should be in real estate. Increase your income, increase your profits, and never pay taxes again.
And if you do that the right way, which is what my book is about, then you're going to create an incredible life for yourself and for your family. And likely, you're going to be able to pass that down as a legacy to your children, your grandchildren, so on and so forth. And I really encourage each and every one of you to get the book and really read through the book.
And if you do that the right way, which is what my book is about, then you're going to create an incredible life for yourself and for your family. And likely, you're going to be able to pass that down as a legacy to your children, your grandchildren, so on and so forth. And I really encourage each and every one of you to get the book and really read through the book.
I've been doing this business for 18 years. I've had a lot of wins. I've absolutely had my own losses. I talk about those losses in the book because you can't win a championship with a clean jersey. I firmly believe that. And so if that's the case, then you guys need to understand that you can do this. As long as you really subscribe to my five laws of success,
I've been doing this business for 18 years. I've had a lot of wins. I've absolutely had my own losses. I talk about those losses in the book because you can't win a championship with a clean jersey. I firmly believe that. And so if that's the case, then you guys need to understand that you can do this. As long as you really subscribe to my five laws of success,
which is first decide what you want and who you need to be to get it. You see, what I built in my business doesn't have to be what you're going to build in your business. You don't have to do this full time. You don't have to spend a lot of money marketing to find leads, etc. But you absolutely need to decide what you want and who you need to be to get what you want.
which is first decide what you want and who you need to be to get it. You see, what I built in my business doesn't have to be what you're going to build in your business. You don't have to do this full time. You don't have to spend a lot of money marketing to find leads, etc. But you absolutely need to decide what you want and who you need to be to get what you want.
Now, the second law is you must commit to that. Don't just flippantly say, this is what I want. I want to make a million dollars at random. Really get clear on what you want and then commit. And then third is take a lot of action. There's only one way to start flipping or buying rentals and that's to make offers. You can't flip a property if you make no offers.
Now, the second law is you must commit to that. Don't just flippantly say, this is what I want. I want to make a million dollars at random. Really get clear on what you want and then commit. And then third is take a lot of action. There's only one way to start flipping or buying rentals and that's to make offers. You can't flip a property if you make no offers.
You can't buy a rental if you make no offers. So you got to take a lot of action. That action leads us to law number five, which is going to make you incredibly uncomfortable. Doing things you've never done before is going to be uncomfortable. Just like when we were kids, we learned how to crawl, we learned how to walk, we learned how to swim, we learned how to ride bikes, all of which
You can't buy a rental if you make no offers. So you got to take a lot of action. That action leads us to law number five, which is going to make you incredibly uncomfortable. Doing things you've never done before is going to be uncomfortable. Just like when we were kids, we learned how to crawl, we learned how to walk, we learned how to swim, we learned how to ride bikes, all of which
was uncomfortable for us, but we did it. The same thing is true here. So you really highly should be getting some sort of coaching, some sort of handholding, some sort of mentorship. And law number five is remove your, not mine, remove your time expectation on the result.
was uncomfortable for us, but we did it. The same thing is true here. So you really highly should be getting some sort of coaching, some sort of handholding, some sort of mentorship. And law number five is remove your, not mine, remove your time expectation on the result.
You see, I've coached thousands of people in my decade of coaching, and one of the things that really challenges people is their improper expectation. They mentally put up some benchmark of what they're going to be able to achieve, and they put some time limitation on themselves. For newer investors, maybe getting into wholesaling, a lot of times they say, okay, I'm gonna go do a deal in 30 days.
You see, I've coached thousands of people in my decade of coaching, and one of the things that really challenges people is their improper expectation. They mentally put up some benchmark of what they're going to be able to achieve, and they put some time limitation on themselves. For newer investors, maybe getting into wholesaling, a lot of times they say, okay, I'm gonna go do a deal in 30 days.
Well, on day 31, if they haven't done a deal, what happens? They mentally check out. They're frustrated. They say it can't work. They blame the economy. They blame their market. They blame whatever. And so if you are looking to break into the space of real estate, and these five laws are true for all verticals, no matter the economy, but You need to be patient and give yourself grace.
Well, on day 31, if they haven't done a deal, what happens? They mentally check out. They're frustrated. They say it can't work. They blame the economy. They blame their market. They blame whatever. And so if you are looking to break into the space of real estate, and these five laws are true for all verticals, no matter the economy, but You need to be patient and give yourself grace.
Do not put on any type of time expectation on the result you're trying to achieve. So if you're trying to buy 100 single family rentals, don't say I'm gonna do that in a year or five years or 10 years, just say you're gonna do it as fast as you can.
Do not put on any type of time expectation on the result you're trying to achieve. So if you're trying to buy 100 single family rentals, don't say I'm gonna do that in a year or five years or 10 years, just say you're gonna do it as fast as you can.
If you're trying to buy an apartment, a storage facility, or maybe you're trying to accumulate $100 million worth of assets, do not put a timeframe on it. put your head down and go. And that is a big theme in this book, is do the work, right? If you wanna increase your income, you gotta do the work. If you wanna create wealth, you gotta do the work. This book is incredible.