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Justin Colby

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

Appearances Over Time

Podcast Appearances

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

I was just going to say, I don't want to say infinite, but it's like, God, at that point, you're like... It's like not even in the same... No, you can't find that anywhere.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

You know, it's funny. I use the analogy like... In our world of real estate, a lot of people talk about like a 3X return on investment, right? Like if you're going to go market, you want to get a 3X return on your investment, things of that nature, right? This would be like, you can't even compare the two. When you take our normal world and you say, hey, great, you want a 3X return?

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

You know, it's funny. I use the analogy like... In our world of real estate, a lot of people talk about like a 3X return on investment, right? Like if you're going to go market, you want to get a 3X return on your investment, things of that nature, right? This would be like, you can't even compare the two. When you take our normal world and you say, hey, great, you want a 3X return?

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

I'm getting a 600X return. Yeah. Like, you say, why aren't more people doing this? Now, the caveat is, is more traditionally for a home you're going to live in, right? This is the BRRRR model, but owner-occupied BRRRR model, right? House hacking.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

I'm getting a 600X return. Yeah. Like, you say, why aren't more people doing this? Now, the caveat is, is more traditionally for a home you're going to live in, right? This is the BRRRR model, but owner-occupied BRRRR model, right? House hacking.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

Well, and the bankability. So I call it bankability, but being bankable.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

Well, and the bankability. So I call it bankability, but being bankable.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

Think about that one got you into a room that I'm sitting in, gets you into another room I'm sitting in, and then all the people that I'm with, and you're one. People want to go, you know, I use the analogy, swallow an elephant, right? Like, they want to go get the whole thing right now, all of it at once. Take one bite at a time. Just like every human puts on pants one leg at a time. Bingo.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

Think about that one got you into a room that I'm sitting in, gets you into another room I'm sitting in, and then all the people that I'm with, and you're one. People want to go, you know, I use the analogy, swallow an elephant, right? Like, they want to go get the whole thing right now, all of it at once. Take one bite at a time. Just like every human puts on pants one leg at a time. Bingo.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

But a lot of the listeners, a lot of you watching this on YouTube, you want the whole thing right now. Stop the nonsense. Like, Matt is talking about, he did the one. It got him into rooms he never would have been able to get into without... The one, right? So let, because I, now I'm really curious. Yeah, of course. Let's take me. I live in Miami. We're in Miami.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

But a lot of the listeners, a lot of you watching this on YouTube, you want the whole thing right now. Stop the nonsense. Like, Matt is talking about, he did the one. It got him into rooms he never would have been able to get into without... The one, right? So let, because I, now I'm really curious. Yeah, of course. Let's take me. I live in Miami. We're in Miami.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

You just flew your happy ass from New York down to Miami to rock this podcast. I'm super excited. We're going to go grab some food here shortly. If you have time. Yeah, of course. I have the flexibility to live anywhere I want. I love my life. You know my family, you've met my wife and daughter, the whole thing. And I hope to meet your family here soon. Soon. It will happen.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

You just flew your happy ass from New York down to Miami to rock this podcast. I'm super excited. We're going to go grab some food here shortly. If you have time. Yeah, of course. I have the flexibility to live anywhere I want. I love my life. You know my family, you've met my wife and daughter, the whole thing. And I hope to meet your family here soon. Soon. It will happen.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

I'm very aware, as you just had your second child recently, and I'm about to have my second. Changes the game a little bit. It does. Big time. I do get that. If I wanted to move somewhere, let's just take Scottsdale, Arizona. What if I wanted to move back to Scottsdale? I have a permanent residence here. I own it. I have a loan on it. Yep. I have a million dollars of equity on it, right? Mm-hmm.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

I'm very aware, as you just had your second child recently, and I'm about to have my second. Changes the game a little bit. It does. Big time. I do get that. If I wanted to move somewhere, let's just take Scottsdale, Arizona. What if I wanted to move back to Scottsdale? I have a permanent residence here. I own it. I have a loan on it. Yep. I have a million dollars of equity on it, right? Mm-hmm.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

Does that and the home I'm gonna want is in the millions, right? Is there a price point that this loan won't work for? If I already have a home, am I not allowed to use this? And let's just use me as the example, because now I'm like, maybe this is a move. Yeah, so. And I'm not working the system. No, move. I would make this next thing a permanent home, right?

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

Does that and the home I'm gonna want is in the millions, right? Is there a price point that this loan won't work for? If I already have a home, am I not allowed to use this? And let's just use me as the example, because now I'm like, maybe this is a move. Yeah, so. And I'm not working the system. No, move. I would make this next thing a permanent home, right?

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

The loan limit they give you is based on- It's not the value of the home, it's the loan limit. Correct. That's the highest loan you can get. So it doesn't mean I have to buy a home that is only worth 1.4. Right.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

The loan limit they give you is based on- It's not the value of the home, it's the loan limit. Correct. That's the highest loan you can get. So it doesn't mean I have to buy a home that is only worth 1.4. Right.

The Science of Flipping
The Power of an FHA 203K Loan [REPOST] | Matt Porcaro

Do they, would I have to have my personal residence in Miami already rented out before I made the move?