Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Leo Goykhman

Leo Goykhman has started 7 posts and replied 28 times.

Post: New to REI and to Bigger Pockets

Leo GoykhmanPosted
  • Chicago, IL
  • Posts 29
  • Votes 25

Welcome Robert!

It's funny as I'm reading your post I'm thinking about those exact thoughts as I was recently creating my profile...

(developing a business and beginning to acquire properties to wholesale, rehab, or buy-and-hold etc.)

I found that really putting yourself out there and networking on this site is a huge leverage point that so many new entrepreneurs and investors dont have.

Within the short time that I've been here, I've already met some unbelievable people and have met up with a potential partner on deals.

Just taking the time to read through some of these threads has been an invaluable resource. Wish you the best of luck.

Leo

Hey guys, I just heard a podcast with a very smart and successful wholesaler named @Aaron Mazzrillo and one thing I learned from listening to him is that many time sit's all about perspective. For some, being a "rehabber/flipper" is the "big-time" but from what I understood of Aaron's perspective being a house fli[per is basically being a project manager, AND with that said, he mentioned that that part of REI is one of the easiest methods o implement.

As far as wholesaling, and I mean really good wholesalers, they are the bread and butter. They are deal makers, the negotiators, the problem solvers. So to say that wholesaling is "just this, or just that" in my opinion is a little bit off. And yes, wholesaling is a job, but so if rehabbing and everything else. I agree with @J Scott the definitions are irrelevant. What's important is what you're doing, how you're doing it, and how relevant are you to your niche, industry, community and obviously your clients and customers.

Tyler congrats! That is amazing.

Thanks for posting and keep up the great work.

Best,

LG

Post: "Gurus", Big Promises and Success...

Leo GoykhmanPosted
  • Chicago, IL
  • Posts 29
  • Votes 25
Originally posted by @Bryan L.:

You know, there's a lot of "guru bashing" on this site. Some of it deservedly, some of it not. But..... here recently, one of the main guys of this site, non other than Mr. Brandon Turner, has published a REI book for sale relating to buying real estate with no (or low) money down. So, does that make Brandon a "guru"? In my humble opinion, each guru/teacher/coach etc. and each product that they sell needs to be evaluated on it's own merits vs. the price to be paid for the coaching/training/product. For example, I think that Brandon's book is around $20 or so. I'm sure that I could garner $20-worth of information from it (probably more). So, Brandon would be a good guru and his book would be a good product in this example. And truly, real estate actually CAN be bought with no (or low) money down. I bought a house one time and actually walked away from the closing table with a check (that was before the crash, so I don't know if I could pull that off again). Anyway, read on and learn for free here at the site, and maybe even spend a little money on some high quality education.

 Hey Bryan,

Thank you very much for your response. First off, I agree with you 100% that not all who sell education or coaching are a "guru" or deserve to be based. (I just purchased Brandon's new book btw) What I'm referring to are people who have no proof that they have ever done anything in the field, or not in a very long time and sell info by making ridiculous claims of instant riches. And oh, one of the biggest giveaways is when you see "testimonials" by "Bob A. for Chicago"

Personally I have invested a small fortune on my education in the marketing and business world and will continue to do so. I am all for education and at times paying for it. I just see allot of empty claims being thrown around and I think we need to pay attention to that and use our best judgment when making a decision. Plus, i also said that we must take responsibility for our actions, meaning that we cant invest in a program then NOT take action and blame the teacher!

And lastly, being that im new here to the community, i haven't read any "guru bashing threads" nor do i intend to participate. I just wanted to give my opinion on something that happens in many industries.

Thanks again!

LG

Post: "Gurus", Big Promises and Success...

Leo GoykhmanPosted
  • Chicago, IL
  • Posts 29
  • Votes 25

You know, I was just looking through some links when I found something online about 'virtual wholesaling' and I couldn't help but seeing something that kinda nagged at me.I think that coming from the internet marketing space I've become used to the big promises by a wide variety of gurus and 'self proclaimed experts' on how if you "just take action right now" your life will never be the same. (Yes, I've even seen plenty of examples of a digital download being referred to as "it will be all gone by midnight tomorrow...and still there a month later).

Truth is, the information that's promoted as potentially life or business changing may or may not be accurate. But the real issue I find myself battling with is when I see claims of riches and success ..."with no money down, no credit, no credit cards, no internet, no laptop, no partners, and yes, the best one...NO EXPERIENCE AT ALL...and oh, of course this one..."it only takes 2 hours of work, a month and then it's autopilot! (ok, I'm exaggerating a bit) but you get the point...

The reason this is wrong on so many levels is that they aim for the heart. Too many of these "experts" don't even practice in the fields they so called "mentor/train" people in. Too often these marketers are just that...MARKETERS. My experience tells me that to be successful in business or anything else for that matter takes allot of work, lots of time, effort, dedication, commitment, ups and downs, trials and tribulations and yes, many times it DOES take money (even if it's not your money or even a ton of it, nevertheless it takes some). 

To be fair, we as business people and consumers must also take responsibility for ourselves and our actions. Meaning, it's up to us to take the actions necessary to succeed in our chosen field or path. It's on us to learn the skills needed to achieve our goals, make the connections, and rise above mediocrity. If we take full responsibility for our successes and FAILURES, I think that our growth will be magnified drastically...and best of all, it will happen organically.

To success,

LG

Post: My Direct Mail Campaign Results Have Been Atrocious

Leo GoykhmanPosted
  • Chicago, IL
  • Posts 29
  • Votes 25

Hey guys,

I would like to chime in if it's ok. I've been a direct response copywriter for going on 10 years and there are a few things that I have learned over the years that have consistently worked. No matter if I was working on a direct mail campaign, a email sequence, or building a multi-media  sales funnel it all came down to a few basic rules:

Your headline on your postcard, door hanger or any other marketing piece is going to be THE #1 most important thing.  

Your headline is "your ad for your ad" if that makes sense. If you want them to read your letter/postcard/marketing peice the headline must first "speak to them". Too many post cards/direct mail letters etc get thrown out is because most marketers do not understand the "A/B pile rule"

The "A/B pile" is essentially when people stand in front of their trash can going through their mail trying to decide which pieces they will open/keep and which are getting tossed. "Pile A" is possibly the desk or a counter, and the "B pile" is the one that headed straight for the bin. 

If you do not concisely focus on writing  a RESULT/ BENEFIT driven headline, your chances on them reading even the first sentence diminishes. Now, with that said, the entire point of writing a great headline is for your targeted reader to move on and read the rest of your ad!

I think that a common mistake is being too generic. Not being upfront and straight to the point. Remember this, people are constantly being bombarded with different marketing and advertising messages, so to cut through the noise you MUST learn to differentiate yourself. QUICKLY. 

When creating a marketing piece stick to these couple of points and you should see a pretty decent increase in the rate of response.

1) Write a good headline (write 10 before picking one!)

2) Use benefit driven bullet points (people want to know "Whats in it for me?)

3) Give them a REASON to want to communicate with you. (Create a USP/unique selling proposition)

4)ALWAYS, ALWAYS, ALWAYS, have a clear "Call To Action" Meaning be very clear on what specifically you want your reader to do next (I.E. visit your site ....or call a free 24 hour recorded message etc...you get the point)

Essentially you want them to know that you are a smart business person who is able to add value to their lives.

If you follow this very basic outline, you should  see an increase in your response rate.

Hope this helps!

-LG

Post: Real Estate Investing: I'm going "all in"...Steps 1,2,3

Leo GoykhmanPosted
  • Chicago, IL
  • Posts 29
  • Votes 25
Originally posted by @Chad Carson:

@Leo Goykhman congrats for thinking about your plan to move forward. @Andrew Davis 

 already linked my blog article about 7 steps to quit your job.  But I'll address here specifically what which steps to take first in your case.

My personal experience was that the biggest confidence booster was having a money person behind me to help with the initial offers. My first year right out of college was spent being a birddog for one investor who bought rentals and flips.  He had cash, and he could tell me exactly what he was looking for.  When I bought him a deal, I made some money.

You've got to leverage your strengths and team up with someone who has what you need (money, experience, expertise) but who needs what you have (drive, marketing/sales experience, time). Finding that person or people is the trick, but it could start with networking on here and then continue networking in person at local investor meetups and REIA's. I also think getting your license makes sense because it gives you another way to get paid and you will get some good, core real estate education (both the classes and from a good broker if you find one).

In the meantime, it never hurts to take some action on the steps I mentioned like 1) Getting your mind right 2) Education 3) Create a short and sweet business plan.  

I'll share my steps 4-7 in my article next week on the blog. Hope to have a good discussion with your there, too. 

Best of luck!

 Thanks so much for that reply. BTW that article was awesome. I'm working on finding that "other person" now. I think that so often people come to the table with a hand out expecting something for nothing. In my situation, being that I've been a direct marketer for many years I'm trying to leverage my experience and skill set by adding value to other people's lives, and in return i'll have the opportunity to learn from them. It's simple business economics. Supply/demand. The more successful a person is, the more people want to associate with him/her, and therefore, I feel that being new to an industry with great potential (and risk) I need to play my cards right.

I look forward to reading part 2 of your article!

Best,

LG

Post: Real Estate Investing: I'm going "all in"...Steps 1,2,3

Leo GoykhmanPosted
  • Chicago, IL
  • Posts 29
  • Votes 25
Originally posted by @Michael Quarles:

Personally IMHO DONT relax.

This is both your and the sellers future you're dealing with and a laissez faire attitude may not be the attitude you need.

I would perform tasks on purpose and know what the heck I was doing before knocking on that door and at the very least have someone in my corner to ask questions of and who is there to help.

BTW losing money isn't okay.

 Michael, 

Thank you for your feedback. I think that prior to making a move I'd either learn what the correct steps were, and/or have someone working with me either side by side or in my corner. I love the idea mentioned earlier about being in a "consultant" role rather than a one trick pony but with that said nothing is worse than incompetence and unfortunatelly there's enough of that out there already.

Thanks!

LG

Post: Real Estate Investing: I'm going "all in"...Steps 1,2,3

Leo GoykhmanPosted
  • Chicago, IL
  • Posts 29
  • Votes 25
Originally posted by @Dev Horn:

You might want to consider a coach - someone like @Brian Gibbons or @Michael Quarles to help you get thru the "start-up" phase.  I really think a great coach/mentor is a huge success factor in this business.

I would say, proceed with confidence, even tho there are unanswered questions.  With your background in marketing and consulting, you should do WELL.  Think about yourself not as a "wholesaler" but more like a "consultant".  This is about solving problems.  As you build your knowledge and your network, your confidence will grow.  Very early on as you talk with sellers you'll realize you really do know more about real estate than they do.  Help them think thru their alternatives.  If they need cash fast, then get it under contract and then shop the deal.  If they decide to list it, refer them to the agent(s) on YOUR team.  Maybe you make no $ on that referral but it solves a seller problem and earns you good karma with your partners.  My point is - relax, don't feel like every question needs an answer - you can go out and start doing this RIGHT NOW.  If you mess one up, no big deal, part of the learning process.  And if you find a great deal and can't find a buyer, call me!  I bet I know someone that would be interested.  =)

 Dev,

that is some really, really great advice! Seriously, thank you so much.

Your words are encouraging, and I will definitely act on what you suggested-especially about adding value to the people I work with, regardless of whether there is that immediate payday or not. I'm looking at this as a long term business and career. 

Thanks so much Dev. I'll keep you posted on the progress!

LG

Post: Real Estate Investing: I'm going "all in"...Steps 1,2,3

Leo GoykhmanPosted
  • Chicago, IL
  • Posts 29
  • Votes 25
Originally posted by @Andrew Davis:

@Leo Goykhman 

Firstly, congratulations on pursuing your dream!  Bigger Pockets is a RE education in and of itself, and I have learned so much here in such a short time.

Your goals are very ambitious, which is great!  I know I have the tendency put a bit too much pressure on myself, and be really impatient; and that's when I tend to make mistakes.  

A few suggestions:

Check out the Ultimate Beginner's Guide

http://www.biggerpockets.com/real-estate-investing

Check out this blog post by Chad Carson (just posted today), I'd say it's just about perfect for where you are.  He strongly advocates, and I do as well, investing a few full time months in your RE education.  Think of it as a language immersion program, but for RE.  I'd say if you just followed the advice in the post, in 3 months you will have a fantastic foundation for your career.  

http://www.biggerpockets.com/renewsblog/2014/10/22...

The podcasts are an education in and of themselves, I probably listen to one a day and take something away from every single one.

Your background is fantastic for REI. Knowing how to interact with people, market yourself and your products (properties) and being able to identify inefficiencies will all serve you very well.

I wish you the best.  I'm just starting out as well so feel free to reach out.  I'd love to be an encouragement and resource to you on your journey.

All the best!

Andrew

 Andrew, 

thank you so much for the response! I agree with you 100% at the very minimum education, and a very extensive one is going to be vital. Especially for someone getting into a new career. I think the mistake most people make anywhere, is underestimating the task at hand. 

I'll be sure to stay in touch with you throughout the journey and thanks alot for the links! I'll be sure to check em' out.

I wish you the best in your journey as well!

Best,

LG