Introducing post and how I got to real estate-
My name is Elhanan and is a father of three.
Contrary to many interesting stories, my story does not start with a heartbreaking or difficult start even though we did live in difficult neighborhoods in the past. I am a native of the country to parents who immigrated in the 70s from the USSR, in their approach they were hardcore communists.
Ever since childhood, I've always had an entrepreneurial piece that never came to fruition without intending that any initiative or desire to develop an initiative was directly suppressed by my parents, not heartwarming but simply because it wasn't their way of thinking.
My parents advocated acquiring education as a priority over higher education, and later a good job in a good place, which would be a hotbed and security for a nice life.
Simple initiatives that I tried to implement at a young age were unsuccessful for several reasons:
- I consulted the people closest to me but not the right people, my parents.
- Inexperience and fears, I was inexperienced and assimilated by many fears.
- The desire to break boundaries was sometimes restrained.
However, I also got good things from my parents:
- Be independent and able to stand on my own and not be drawn after the environment.
- Dreams are designed to fulfill them
- Do what I love, without attaching importance to what the company says or thinks
I seem to have grown up in some sort of antagonism.
Life in china
Running in my dreams led me to experience different and unique things in my life, which led me to a fascinating period of years of living and studying in China where I studied Chinese as a language and culture and later received co-financing from the Israeli-Chinese governments, choosing to learn what I wanted wherever I wanted. And so I chose to study business and international business in Tianjin city of China. The only foreign student in my class, studying with Chinese is studying Chinese and living with Chinese, speaking Chinese reading and writing Chinese courses.
After the episode in China, I returned to Israel and went on to study, did a direct PhD course and got a doctorate at Ben Gurion University My doctoral dissertation was in the field of neurobiochemistry, and I even managed to publish some scientific articles in the international scientific journal.
How did I get to real estate just in case-
As parents with backgrounds and socialist thinking, I always looked at money and investment as something foreign and unfamiliar. We had no business people in the family and of course no investors either, they were all good employees.
During my second degree, my wife and I decided to buy an investment property. Not because we wanted to be investors but we simply realized that we had no money to buy in the center of the country (from where I was originally) and the idea was to just buy a property with the money we saved and simply pin the money to real estate in the hope that someday we would sell the apartment and upgrade to our dream apartment.
This step was followed by a conversation I had with an Army member who was a real estate investor with some assets, had many barriers and objections to the investment issue. The understanding came when we deposited the second or third check, we realized that rental money was actually money coming in but the big advantage is That we don't work for them, 'passive income' was a foreign concept to me, that I didn't even know how to set, but something in this process permeated.
After many questions and consultations with the boyfriend, I realized a few things and within six months of purchasing the first property I purchased two more and had a total of 3 apartments for rent. In retrospect it seemed easy, but I had to undergo a profound change in my understanding and actions, there were fears and fears, but Fortunately, fear never stopped or prevented me from doing things, it actually challenged me and made me more alert. In six months, I became a multi-asset investor (only 3 but gentle…) and started thinking differently.
Mortgages, leverage and fortune-
The first apartment was purchased for NIS 240,000 and this is all the capital we had that we managed to save and rented for NIS 2000. I didn't want to hear about a mortgage, I was against it and wouldn't even consider the idea.
After the purchase of the first property, and deposit checks as stated, we realized we wanted more, the problem popped up when we realized we had no more money, all the capital was buried in the walls of our first property. I went back to a friend from the army and asked for solutions, and then he said the magic word that until then I thought was a curse, he said: a mortgage. And began to explain the leverage process to me.
Since I was doing science and data analytics, math didn't confuse me, on the contrary, it was so simple that I was angry at myself and didn't understand what it was like under my nose all the time and missed that idea.
During that time (12-13 years ago) I was lucky in several aspects:
- Property prices in WC were very cheap, the market was simply frozen for decades.
- This is a time when mortgages could be taken at leverage of 90-95%.
Why do I say luck? Because if I had a mind then I would buy that much more for six months, but real estate as real estate learn from mistakes.
My brain did not stop thinking and rolling the math in my head and I was constantly finding creative solutions for leveraging and rolling money.
I started drinking books, the first of which was of course - rich father and poor father.
This was also the time I became acquainted with the legendary investor Warren Buffett, I read every bit of information about it, found that money was very interesting to me, not in the greed aspect, but simply that it was something new I discovered and my point of reference towards it changed.
My investment strategy was shaped by the great influence of Warren Buffett Ali, my portfolio is mainly made up of long-term investments, with me occasionally making flips when the market invites me to such a deal that I for one do not want to own. However, my day-to-day conduct is focused on long-term investment and cash flow creation.
The conduct with cash flow enabled mine over a decade ago resign From my work as a scientist at a pharmaceutical company, where I worked in the development departments and also in the quality control departments for developing and improving analytical methods. I fulfilled The dream of economic freedom.
Today I am an active real estate investor, engaged in private investment in my home, advising people whose interests are or are in an investment dilemma, teaching people how to invest in the investor training process I have built based on my experience, and accompanying people who are looking for someone to help them get into real estate investing and mainly as a blogger Real estate that shares my experiences and thoughts on this fascinating field.
I invest in real estate in Israel and abroad (USA, and Eastern Europe), although here again most of my investments are in the country, I still think there are amazing opportunities here and despite the failures and difficulties there are opportunities that the unique political and demographic situation here long ago.
When I asked Nirit what to write, she simply told me, "Bring yourself."
In the following posts, I will try less to talk about examples (though there will be some) and deals, but I will try more to expose myself, my way and my line of thinking more in the philosophical aspect, and who knows maybe it will even interest you. I do not pretend to resume anything here, from what I have seen - there are highly skilled and knowledgeable people here, but just share my story here with you, what will you do with it ?! It's already in your hands.
Starting ...
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Very nice
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Fascinating, good luck !!
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