Investor Travel Diary - The fourth (and last day of this trip) the last day started hard ……

Investor Travel Diary - The Fourth (and Last Day) of This Trip

The last day began hard ... on the one hand wanting to get full of things and on the other hand exhaustion after yesterday's game and ride. I had time to meet for an hour 11: 00 I will tell about later in the post, so I decided to get up slowly and start the day in Izi.
Due to the heavy meetings, I did not really get around the streets. And where do they go anyway? After all, if you do not have an address, then what does it mean to walk around the streets so big? It's like telling a foreign investor who comes to Israel to go and hang out in Tel Aviv (only a few times bigger). I took one of the notes that Hollsiller had sent me (one of whose assets I would see at noon) and followed 2 addresses I had chosen from there. Areas where I have not been and I have heard recommendations. I reached the first address, a house I did not know whether to examine it as a flip or a carntal. At first I drove near the house, photographed and compared the houses around the same street. There certainly seems to be something to improve at home, at least in its exterior. I continued to drive in the nearby streets, pretty empty (apparently people work, good sign?) I saw a little dark skin, a little light-skinned, it seems that the population is quite involved there in terms of socio-economic and demographic. I saw a house on a nearby street with a sign for sale so I went to the internet to see how much it was offered and the price was so high that it was a good sign ...
I went on to the next address, but here too I did not decide whether to test as a flip or a carntal but in general I was not so impressed by the area. Old houses, some neglected, older people. Not that it's a bad joke but it does not suit what I'm looking for right now. However, I saw from the corner of the eye that they build a few houses there (about 5 adjacent houses). I drove in, parked near the houses and went out to check. At first I talked to the guy who was wiring the electricity, I asked him a few questions he did not really know the answers. I asked him how the area and only from his glance did I realize that the area was not good. In the next house, which is also under construction, there were people who seemed to me some investors or something. I went to talk to them and they were quite antipathetic. One of them was the inspector and the other did not identify himself. They did not give me any information and only told me to speak to the company on the sign. I realized there was no interest so I went on.

From there I went to a meeting with another Teitel company. At first I thought of giving up this meeting because I thought I had exhausted the meetings with the title companies but got along with it over time so I decided to go for it anyway. Honestly, it was a great meeting! This is a title company that also provides attorney services. I think in terms of title, they will not give me anything different than what the first title company will give me, and maybe even they will be a little more expensive, but something in the atmosphere felt much more right to me. Felt they really wanted my success and understood the most important thing - my success is their success! They even said that they would help me with certain things even without getting paid because they know that after that I will get back to them when I want to sell. So. Straight to the point. As I like. By the way, I asked about the things that came up in the previous post I wrote about the title and they do indeed do all the things you asked or said to pay attention to.

It's time to see one of the assets with the Holsiller. Property I wanted to examine as a flip. On paper, the numbers seem to get by, but of course the key is the cost of the renovation. I brought with him a handyman to examine the property and give an estimate of the cost of the renovation (after the Holsiller said our contractor estimated at 15-20 AD). Outside we noticed things. For example, the roof looks relatively new, but in the municipality records it was changed more than 20 a year ago. That means they just did not write it down. Now we have to understand why they did not register and if there is interest here ... We made a round at home, we checked all sorts of possibilities to improve the property. And in the end I got an estimate of 30 AD. Of course it changes the picture completely and you have to do more homework.

Insights from the Day:
1. Walk the streets - choose addresses that you think have potential and just drive there. Dedicate time to this in your schedule (it happened to me).
2. Do a property check - Even if you are on the first trip and the goal is to get to know people and not see properties, set to see at least one property. And come with a contractor / repairman. Even just to understand how it actually works. You will learn how he looks at things, how he thinks…
Stomach feeling - Something in my gut feeling pushed me to a meeting with the title. I gained more knowledge and another great opportunity for collaboration!
4. Always check what you are told - if you are told that a particular renovation costs a certain amount, check at least one other source.

You can let things sink in a bit and then I promise to write a summary post where I will look at things in retrospect. If you have any questions or things you would like me to expand on - feel free to write to me.

This. All you have to do is drink a cold beer, enjoy the last few hours here, and get ready to go home.

Success for all of us!

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