He's Flipped Over 2,400 Homes & Shares His Biggest Lessons Learned | Justin Colby E122

The Rich Somers Report

Rich Somers

Investing, Business

5.0 • 1K Ratings

🗓️ 14 December 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rich sits down with Justin Colby - Real Estate Investor, Entrepreneur, Educator, and Coach. During his 15+ year career as a real estate investor, Justin has flipped over 2400 homes, done wholesaling, and is now getting into the real estate space. He typically buys between 2-5 houses a week. Rich and Justin start off by discussing what Justin currently owns, how’d Justin got his start in house flipping, how Justin runs his team, when to flip or wholesale a home, the BRRRR method, refinancing, ...

Transcript

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0:00.0	How do I make money but then keep the money?
0:02.0	And in real estate's the best vehicle to do it.
0:05.0	Why do you think Bill Gates is out buying so much land?
0:08.0	Why do you think apples buying so much land?
0:10.0	Why do you think these car dealerships buy the land that they build the factories on?
0:14.0	Because they understand the value of the property, the land, right?
0:17.0	They understand what that means to the entity.
0:20.0	McDonald's is a perfect example.
0:22.0	I mean, most people think McDonald's is a fast food business but in all reality they're a real estate company.
0:27.0	They own almost all their real estate and then they just rent out the spot to operators.
0:33.7	That's right.
0:34.2	They lease it out and they're the landlord.
0:36.9	And they collect a franchise fee.
0:38.6	So it's a genius model and then, you know, think about all the real estate
0:42.1	they own in the world compounded
0:43.9	over decades and decades I mean that's a lot of a lot of a lot of appreciation
0:47.8	there.
0:48.8	Welcome to the Rich Strummer's report where we talk real estate business and wealth building all while keeping it real.
0:54.5	No fluff, no BS.
0:56.1	I hope that you enjoy the show.
0:59.3	All right guys, welcome to another episode of the report today. We are here in the
1:06.9	studio in downtown San Diego and we get a little sunshine outside and I'm
	...

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