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
Email [email protected]
Resources
Learn More About Michael’s Mentoring Program
Join the Nighthawk Equity Investor Club
