The Science of Flipping
Why Smart Realtors Focus on Wealth, Not Just Commissions | John Gafford
Fri, 10 Jan 2025
In this episode, I sit down with John Gafford, a seasoned real estate investor and entrepreneur from Las Vegas, to dive into the keys to building long-term wealth through vertical integration and staying adaptable in the ever-changing real estate market. We talk about the power of podcasting as a tool for networking and building authority, the mistakes that come with over expansion, and why focusing locally and diversifying income streams is critical for sustained success. John shares his experience with his vertically integrated business model, which includes brokerage, mortgage, title, and escrow services, and explains why staying ahead of market trends is so important. We also discuss the increasing interest among realtors in real estate investing, the importance of ethical practices in distressed sales, and how a flexible, forward-thinking approach is essential for navigating the industry's challenges. This episode is packed with practical advice and candid insights for agents, investors, and entrepreneurs looking to take their game to the next level. -- Connect with John Gafford Follow Jon on Instagram: @TheJohnGafford Listen to his podcast Escaping the Drift Learn more about John’s real estate expertise Share this video with someone who needs to hear John’s insights! -- The #1 training and coaching system to launch, grow, and scale your investing business! 𝐋𝐞𝐚𝐫𝐧 𝐌𝐨𝐫𝐞: http://www.thescienceofflipping.com Turn cold real estate leads into engaged motivated sellers on auto-pilot using the power of A.I! 𝐋𝐞𝐚𝐫𝐧 𝐌𝐨𝐫𝐞: https://www.rocketly.ai/ Have a question? Ask me anything at https://www.askjustin.ai/ 𝐀𝐛𝐨𝐮𝐭 𝐉𝐮𝐬𝐭𝐢𝐧: After investing in real estate for over 17 years and almost 3000 deals done, Justin has created a business that generates 7 figures in active income through wholesaling and fix and flipping as well as accumulating millions of dollars of rental properties including 5 apartment buildings, 50+ single family homes, and 1 storage facility Justins longevity in real estate is due to his ability to look around the corners, adapt to changing markets, perfecting Raising private capital, and focusing on lead generation which allows him to not just wholesale and fix & flip, but also accumulate wealth through long term holds. His success in real estate led him to start The Entrepreneur DNA podcast and The Science Of Flipping podcast and education company, where he has coached and mentored thousands of aspiring and active investors over the last decade. He is a nationally recognized speaker and is on a mission to educate as many people as possible on becoming a successful dynamic real estate investor. 𝑾𝒉𝒂𝒕 𝒕𝒉𝒆 𝑷𝒓𝒐𝒔 𝑯𝒂𝒗𝒆 𝑻𝒐 𝑺𝒂𝒚 𝑨𝒃𝒐𝒖𝒕 𝑱𝒖𝒔𝒕𝒊𝒏: “Justin is one of the best trainers in this space. He really gives everything to his tribe.” – Brent Daniels (TTP) “Justin’s ability to connect with people and help them understand what he is teaching, is unparallelled” – Kent Clothier (REWW) “We have been in the trenches flipping homes in Phoenix for over a decade, he is one of the best to do it.” – Sean Terry (Flip2Freedom) Subscribe To Justin Colby: http://youtube.com/justincolby View All My Videos: https://www.youtube.com/c/JustinColby
Chapter 1: What is the key to success in the real estate market?
Understand that what got you here today is probably not what's going to be there tomorrow because the real estate industry overall, the markets fluctuate so much between interest rates and housing prices and demand and all of those things that go into this crazy thing that we do that you can't become a one-trick pony and it's like surfing, dude.
You've got to keep your eyes on the horizon for that next wave. And if people ask what my secret to success in real estate is, it's that I've always been able to catch the next wave. Yep.
What is up, Science of Flipping family? I am super fired up because I have a very close friend of mine, and he is the man in Las Vegas. Not only is he a real estate investor and a master real estate investor, he owns a brokerage, hard money title. He is vertically integrated. If anyone should be on this podcast, it's about damn time. We got John Gafford here.
What's up, man? Dude. It is about time. I think we spend more time next to each other on the podcast charts. That's right. We actually do in the same room. That's right.
Isn't that crazy? We do. And we've become incredibly close over the last year. And that is the best part of these podcasts. I'm sure you could probably say is like the relationships that get built because of podcasting. Oh, totally. Unreal. Totally.
Unreal. No, completely. I think that, you know, when people ask me why I do my podcast, it's the first answer is 100% always to grow my network. It's just there's no better reason.
And when you sit with somebody like this for any amount of time and you talk about their favorite subject, which is themselves, it's kind of hard for them not to have some sort of an affinity for you by the time they walk out the door. No doubt. Absolutely.
And it opens up so many doors, right? People – so I told you previously, like – People are asking me all the time now because of the level of success. Should I do it? And my answer is hell yeah.
Well, dude, we take, I mean, the room you're sitting in right now, right? This is how serious I am about it. We're sitting in my podcast studio, which is actually in my office.
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Chapter 2: How can podcasting help build your network?
Really, really far from where we were. And we brought in some folks that were talented people, but that you literally went from, you gotta understand, it's almost like moving, right? When you look, when you talk about moving, if you move, if you move from one house to the house next door or the house across the country, it's the same. And business is completely the opposite.
Because if you have a bit, if you want to open another business, open one down the street that you can drive and share product and, and help each other out. When you open another business across the country, it's its own world. That's its own thing. And it's very difficult and the brick and mortar space to try to support that. And trying to go too wide like that, we really got our ass kicked.
And we ended up selling off all of those JVs, splitting off just because it became a logistical nightmare for us to manage them. And we realized we're like, wait a second, if we put as much effort as we're putting into these nationwide JVs into our own local market.
Yep.
with this stuff will crush and it's way easier to run. So we pivoted two years ago into that. We have several JVs here in Las Vegas with other real estate companies, brokerages that we run their mortgage and their title for. And that's been very successful because it's very easy for us to facilitate that.
Yeah. You're here and you're saying something that I try to help preach. So I'm a victim of this, right? Any of us visionaries victim, like we are shiny objects. Oh, we can go take on the world. Let's go to all these States. That's us. That's you. That's me. So I have to work. That is something I literally have to work on all the time.
Yeah, it's almost like when you're going to send a nasty email and then you delete it. Like Kent from Boardroom said, you know, when you leave here, don't go back and throw up all over your people, which is what I used to do. I would come back from an event, from something and say, okay. And I would literally just be bouncing off ideas.
But my staff, because they're a great staff that works for me, would think, okay, this is what he wants. So they would put it in motion. And all of a sudden I'm like, oh, okay, I guess we're doing this because now this was an idea and now we're doing it. And everybody seems jazzed about it when in reality they were just trying to please me.
And then we would spin something up that just didn't work. And not all of our verticals have been really successful. You know, probably one of the biggest things for me in business is,
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