# Entrepreneur of the Week - Post No. 3 The decision to leave the comfort zone in the coveted position, the meeting in the restaurant and…
# Initiated week Post Number 3
The decision to leave the coveted comfort zone, the restaurant meeting and the birth of "Investo"
Yes, I missed the 2008 crisis. I was too busy with activity in Israel - politics, entrepreneurship, urban renewal, nightlife, I even missed an opportunity to buy an excellent land apartment (remember the first post?). From there, I discovered the US in 2011. Not only did I visit before of course, I still managed to climb the twins, but real estate happened in 2011.
"You buy a private home, with a tenant inside, and receive two years of advance rent" - have you heard this sentence in such and other ways? So do I. "Here's a private home in a great neighborhood in Detroit, Michigan," he told me at his office meeting, "and it's in Columbus, Ohio," he continued. "These are cities that have been hit hard by the crisis and many have left and now they are back and have nowhere to live because everything is already sold. There is a very high demand. I have arranged for you homes with good long-term renters. How I swallowed it.
I knew the same seller when he owned an apartment in one of the buildings I was dealing with on their way to urban renewal. I came as an entrepreneur and went out fishing. I bought two homes for $ 55,000 one and $ 60,000 the other. I received 48 prepaid Israeli checks ("He is so nice that I even converted my dollars into shekels," I thought). Indeed, the checks were repaid monthly and I had no reason to fear. I had nothing to do with the houses, Nada. Then the two years ended and the checks were just over. "I will ask him to renew the rental agreements and receive checks again," I thought.
The number is not connected, his building has not advanced at the end of the TAMA project and he is no longer the owner of the apartment. The guy disappeared. I started looking… How do I find my renters? Where do I even start?! So I discovered Zilo, Trulia, municipal sites, companies Lucky I had the warranty deeds otherwise I had no home addresses at all!
From there, I found out that the houses I bought and were actually listed on me were bought just days before I bought them, by some LLC that sold them to me almost three times what it bought. One house in general was locked and sealed - the municipality did not locate the owner (me) and closed the house against intruders. The second house was leased by a management company at a price unrelated to the amount I received and it took a while to prove that I was the owner of the house and not the one who claimed to be. From there, complete Smetah. The houses I bought for $ 3 two years and something ago were worth $ 115,000 together, under pressure. I sold them at a loss. The guy is gone, and my money is too. I decided not to - it won't happen again.
From there, I found out that the houses I bought and were actually listed on me were bought just days before I bought them, by some LLC that sold them to me almost three times what it bought. One house in general was locked and sealed - the municipality did not locate the owner (me) and closed the house against intruders. The second house was leased by a management company at a price unrelated to the amount I received and it took a while to prove that I was the owner of the house and not the one who claimed to be. From there, complete Smetah. The houses I bought for $ 3 two years and something ago were worth $ 115,000 together, under pressure. I sold them at a loss. The guy is gone, and my money is too. I decided not to - it won't happen again.
I spent many nights studying, researching websites, listening to lectures and podcasts, reading urban programs in English (yes, so far), reading research, analyzing markets, talking to realtors, meeting in Israel with 42 companies / entrepreneurs / marketers / dream sellers (hope) That neither of you was an entrepreneur on that list, because less than 10% found me honest or at least understand what they do). I quickly learned to recognize the cach,
To confront the viewer with the facts, to understand that his foot was not on the continent and, in fact, besides taking my money, cutting something, moving on and praying - they had no idea what would happen. I decided to get into it and so I made investments through 3 companies I met and found to be reliable.
Later, two deals really succeeded, and by that time I had already completed my job as a salaried employee and started to initiate transactions myself. I even made some extra investments for friends and family. The third deal was the turning point - but we touched on it in the fifth post.
It's about time to remind my friends for almost 20 years and my dear partner - Noam Shefter. Noam was "Entrepreneur of the Week" a few months ago and you probably see him here and there in groups and forums in the various hats we wear today or even studied with in college, so I won't elaborate on his show (search the forum or Google). In 2016, we sat for another routine lunch, he came from his college, I dropped out of my office, our offices were 5 minutes away from each other and we met in the restaurant downstairs.
"I'm resigning," I announced. "I have nowhere to go there. I've exhausted a clock." Noam was not a minute employee of his life and did not understand how I survived two years with a watch. "Congratulations, it's time, and what will you do, again?" "No," I said. "I want to develop my operations in the US, I think there is more potential there ..." I answered. "What are you doing in the US ?? You know I'm linked there, my uncle in Beverly Hills, we're all family investing there…, "he said.
boom! Hence the road to consolidating activities was very short. "Just make sure you get a severance letter," he said. "You won't see any other money anytime soon." he was right.
We first hooked up with a "regular" investment house that manages investors' money in the capital market (since Noam's college prepares students for securities exams, it is very much linked in this world). That investment house identified a trend for investors taking money out of the market into alternative worlds, and wanted to give it After a while, we found that there was a demand, and there was no reason why we would be subject to an investment house, and so we went out and set up! Nvesto - "Investo House for Alternative Investments." Today, about 85% of our activity is in international real estate (as an entrepreneurial company) and little in Israel. (Opportunities only). 15% split between P2P investments and startups (mentioning that Noam represents an American philanthropic fund that invests in Israeli startups) and now more avenues are being explored to increase diversification and correlation, for investor confidence.
The company's vision: "nvesto! Enable alternative, reliable and profitable investment opportunities while building a financial work plan and creative financing solutions accompanied by a personal" - Because we're really different in the market. Investing with us is part of a work plan we do for investors in investment planning, which is why we conduct a number of transactions simultaneously and in different channels. Needless to say, as a company and as an owner, we always invest in ourselves, and in fact are first-time investors (in the purchase of land, ink-diligence, diffusion) and spend the last money, after repaying the fund and the preferred return to the partner investors.
This is how Investo was born, followed by the rest of the group. We will tell about our activities in the US at length in the sixth post and about the other group companies in the seventh post.
Tomorrow's post, Post # 4, will be about the most far-fetched deal imaginable - and more than I made it, it made me.
How in the meantime? interesting? Welcome to comment ...
- with Noam Shpalter.
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Great
A very interesting story, creating an expectation for the future !!!
exciting
Really interesting! After one session I attended, I knew it was worth following you and your activity
Adv. Noam Spelter.
Talented in everything he does.
Miss college lectures.
responsible for the success of so many in the field of finance.????
Excellent post. Well done!