** The acquaintance - who am I? What am I? ** Nice to meet you - Danny Beit-Or works in the field of investments…
** The acquaintance - who am I? what am I**
Nice to meet you - Danny Beit-Or
Working in the field of real estate investments since 2002, still being a high-tech technician in Tel Aviv.
In 2004 I moved to the US with the intention of focusing more on the US real estate field I fell in love with. Also in my wife at the same time…
A little background
I came to real estate in the US out of a need and a kind of economic frustration. After the army and studies (degree in engineering) I started working in high-tech on all that this implies - long hours, travel, etc. The intoxication was nice too.
By that time a number of things had already become clear to me:
1. Hard work and long hours will not bring them economic well-being
2. Not only will economic welfare not bring personal price over the years will not be small
3. At that time (age 25 or so) when I looked at the previous generation, parents, uncles, older cousins, my parents' friends, etc., I saw mostly, except for exceptions, that everyone has the same profile - working long hours, and usually landlords or apartment with Mortgage and quite struggling to close the month.
So I realized I was looking for something else for myself. I had a hard time accepting the "default" but did not really know at the time what the alternative was.
Pretty quickly I realized that the get-rich-quick dream is a kind of fiction or luck in exceptional cases, so I decided to focus and look for a more realistic way to get rich.
I embarked on an enriching journey, a journey in the economic aspect that is still ongoing. I started teaching myself the real world of finance - day-to-day economics, and I started investing in stocks and options and at the same time I continued to learn about other investment channels. In the process, I was exposed to the real estate world in the United States. For all sorts of reasons, especially chance-risk, I felt it suited me very well.
Not listening to what is not promoting me!
First Investment - A private home from a contractor in a suburb of Phoenix Arizona for $ 129,000 with a loan.
Yes, there were loans then!
It took me about a year to reach the point of making the first investment.
The year 2002. Although there was already an internet and email, but Google was still considered a startup, ZILLOW had not even dreamed of, and there were friends - but not on Facebook or in the online or offline real estate investment group.
In my immediate area no one made real estate investments in the US - it was just me and the idea of investing in real estate in the US. Most of the people I have shared on the subject have outright rejected the idea and listed before me the reasons why it is not worth investing in the US.
I made a decision at the time - not to listen to what was not promoting me.
In 2004 my wife (who I fell in love with, did I mention?) And I moved to the US. We packed some luggage and drove off. Prior to the trip, I made two additional small investments in two U.S. property acquisition groups.
Subprime crisis - personal crisis and reconstruction
When I came to the US I started to fully engage in the field both for my investments and to lend to other investors.
Days before the sub-prime crisis. People bought properties like hot cakes. The general strategy was to buy with minimum equity and maximum leverage. We did not worry about a monthly negative cash flow because the thought was that ultimately the assets were constantly increasing and the more assets there were.
At least that's what I thought and that's how I acted with evidence that others and more experienced than me act in this way - and that was a very big mistake!
It was true that up to 2007, the assets I acquired went up nicely, but then the crisis swept all the cards.
The crisis did not pass over me and it was not a difficult time at all. I lost most of the assets I own. I could say that I had returned to the starting point-or even less, because I was in mortgage debt.
At that time I realized that I needed to rebuild myself financially, and the investment strategy, and to create for me and my investors investment processes and safer and smarter investment plans.
You could say that I rebuilt my entire business in 2010-2011. The goal was to close as many "holes" as possible in the investment strategy in order to build a better, more stable economic future and with better chances of surviving the next real estate market crisis.
Stocktaking
During all these years I have worked on private transactions, including the work of accompanying thousands of investors.
Over the years, investors have followed purchases (and sales) of more than 3500 properties, especially single-family homes.
I accompanied or performed about 100 flips - during this time I personally went through a lesson of a thousand. (Material for another post)
I have worked closely and on a large scale with over 80 real estate agents and over 60 property management companies across the United States.
Chicago, Dallas, Tampa, Orlando, Phoenix, Oklahoma City, Indianapolis, Houston, Austin, San Antonio, Tulsa, Atlanta, Boise, Salt Lake City, Denver, Nashville, Charlotte, Raleigh-Durham, Winston. Salem, leads Alabama, different places in Alabama and Louisiana and I suppose that I've forgotten one or two. Most of them are also invested personally.
What next?
I wish myself and my investors years of economic prosperity. Today the main guidelines according to which I choose the assets and investments are:
1. Investments that strive for "send and forget", minimum occupation, that generate passive income.
2. The assumption that the next crisis will come - and the investments that will stand the test of time and crises.
Good luck and see you in the next post
The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion
What beautiful post is Dani waiting for? Dani Beit-Or
Interesting indeed! Thanks
Very interesting. Breathe
Dani Beit-Or
Wow you've really come a long way with quite a few obstacles
Good for you .
And thanks for sharing. ????
Fascinating, thanks for sharing, I have an honest question, is investor mentoring the main occupation? That is, it is no longer profitable to make deals, but to teach? I notice that more and more people are offering escorts, courses, etc.
All life is school .. 🙂
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Thanks for the fascinating post?
Beauty of a post….
What have you learned from the crisis in 2007 and how do you insure yourself or what you are doing today so that if such a crisis occurs again, you will not be hurt?
Amir Izhaki
Thanks for a fascinating post and are waiting, waiting and looking forward to more ???
Thanks again to Noam Shpalter for an excellent week as an entrepreneur this week - in which he brought us many posts of different and interesting value, and welcome now a veteran fox in the real estate arena, who is a mentor to many of us and a living example of an entrepreneur who became an empire, he is Dani Beit-Or, who will host the The forum in the coming week, and we are sure that he will do it in a way that only Danny knows!!! We have been waiting for him for a long time, so welcome him with applause!!! Thank you Danny for being with us.