Apartment Building Investing with Michael Blank Podcast

Yes, an education in business or finance is a good foundation for a real estate investor. But spending time with an experienced syndicator and watching a deal happen firsthand is more valuable than any degree. So, how do you find a mentor and convince them you’re worth their time?

Josh Gorokhovsky is the Managing Principal at Telos Properties, a real estate investing firm that focuses on 2- to 4-unit new construction, build-to-rent projects in Los Angeles. After graduating from USC in 2015, he interned for LA Properties under company principal Scott Rosenfeld. Since founding Telos in 2017, Josh has placed more than $7M in equity for investors and managed $20M worth of real estate transactions.

On this episode of Apartment Building Investing, Josh joins cohost Drew Whitson and I to explain how he broke into real estate at the age of 21, describing the persistence it took to get an informal internship with his mentor. He gets real about the 900 hours he dedicated to finding his first deal and why he niched down to the new construction, build-to-rent model. Listen in to understand what gave Josh the confidence to go solo at 23 and get his advice on working for free early on to build the network and experience you need to succeed!

Key Takeaways

How Josh got into real estate

  • Inspired by Kiyosaki’s Rich Dad Poor Dad
  • Introduced to mentor by family friend

Josh’s initial strategy for breaking into the industry

  • Find someone doing what he wanted to do
  • Put in time to understand fundamentals

How Josh’s sales background prepared him for real estate

  • Learn to deal with rejection, build backbone
  • Build routines and systems to follow up

How Josh got in the door with his mentor

  • Persistence (call regularly to ask for internship)
  • Dedication to finding deal after 9-to-5

Josh’s transition from tech sales to real estate

  • Spent year working for hard money lender
  • Cushion of income while learning real estate

What gave Josh the confidence to go solo

  • Moved back in with parents
  • Mentor willing to teach

Josh’s first deal

  • Lead from mailer dropped in neighborhood
  • Piece of equity in single family rehab project

Josh’s first solo deal

  • Ground-up duplex development (less risky)
  • Family friend was first private investor

How Josh has scaled up his business

  • Use leverage of previous project to go to next
  • Continue cold calling, reaching out to agents

What Josh is working on today

  • 8 development projects in the works
  • 6 units under management

How Josh navigated the times when he was down on himself

  • Positive self-talk, innate belief in self
  • Encouragement of mentor

Josh’s advice for aspiring real estate investors

  • Get ‘master’s degree’ with mentor
  • Get taste of everything, then determine niche
  • Provide value to everyone you work with

Connect with Josh Gorokhovsky

Telos Properties

Telos on Facebook

Telos on Instagram

Josh on Instagram

Josh on LinkedIn

Email josh@telosproperties.com

Resources

Learn More About Michael’s Mentoring Program

Join the Nighthawk Equity Investor Club

Rich Dad Poor Dad by Robert T. Kiyosaki

Gary Vaynerchuk

David Goggins

Cutco Sales Training

Podcast Show Notes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Direct download: ABI_234.mp3
Category:Commercial Real Estate -- posted at: 1:00am EDT