Phil Pustejovsky

[Steven Roffer]

I'm a complete newbie to real estate investing and I want to jump in and make it my career as soon as possible, here in Los Angeles.  I found Phil P. online and have read many forum threads here about him. I'm extremely interested in participating in his program because it  seems like a really aggressive way to learn this business, despite his hefty fees. 

What should I do?

[Lee S.]

Originally posted by @Brian Gibbons:

@Dev Horn

That was awesome.

I would add something.

Get a coach (this is what I do) that focuses on negotiating with the seller and offering 3 or more offers.

1. Cash Low Ball Offer

2. Sub2 or wrap

3. Lease Option Assignment

4. List the house

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This is the exact business model I've decided to do, Reading BP and a lot of Brian's posts and information has lead me to this path.  I'm in the process of getting my RE license right now so I can do #'s 3 and 4.  I feel if I'm able to offer these exact options to every prospective seller, the deals will come.  At that point it just comes down to consistent marketing and playing the numbers game.

I think an argument can be made both ways on coaching, I've used business coaches in the past and I still use what I learned from them.  However, if you think just signing up with a coach is going to make things easy, it won't.  Best thing I did was to do a direct mailing even though I knew I was in way over my head.  It really helped me learn and zone in more on what I wanted to do and where there were opportunities.    I'm now very confident of my business/investing plan, just have to put the work in.

[Dev Horn]

Originally posted by @Lee S.:

Good points, Lee!  Hard to argue with that...

[Account Closed]

Originally posted by @Dev Horn:

COLD HARD TRUTH WARNING >>> This is a business with a 90%+ FAILURE RATE over the first year.  Most people that come in here with dreams of easy money in real estate soon learn it ain't so easy so they fly off to the next business opportunity that looks like "easy money".  Less than 1 in 10 actually develop a real, repeatable process to buy and sell residential real estate at a profit. 

This should be required reading.

[Hunter Graham]

I'm a big fan of Phil Pustejovsky and the videos and trainings he puts out there. He definitely talks about the Cold Hard Truth Warning Dev mentioned. I've heard him say that "the vast majority of people who have any interest in investing in real estate either do nothing or make no money or even worse, lose money". He doesn't sugar coat things. He tells it like it is. I'm in the "do nothing" category at the moment but thanks to Phil and now this BiggerPockets site that I have just discovered, I will be prepared before I do my first deal so that at the very least, I make a little money.

[Heather Gall]

I am new to BP and investing. I am wanting to start with wholesaling and then buy, fix and sell and want to learn more about the no money down investing options. I think having a mentor to help walk through a few deals and be available for questions for a time period would be helpful but I don't want to add to my debt with the large amounts charged by certain groups and people. I am thankful for everyone's posts and suggestions. Very helpful to a newbie!

[Marlon Wilson]

Welcome to Biggerpockets @Heather Gall! All the best!

[Hristiyan Kyosev]

Phil P. offers a lot of free valuable information about Real Estate Investing.

Anyway, I think that he says that his methods of "Creative REI" are almost always the ones you should use. Furthermore he says that everyone needs a mentor and stuff like that.

So a lot of the things he says are probably kind of true, but he obviously just wants you to go to him and work for him with the Creative REI methods, because they don't cost him anything.

I've read that although people learn serious things, the money and especially time you will have invested in his program are too much. And everything he teaches you can learn in half of the time at BiggerPockets!

I hope I could help!