# Entrepreneur of the Week Gil Toriel Post # 1 Hello, first and foremost I would like to thank the forum moderators
# Entrepreneur of the Week Age of Toriel
Post number 1
Hello, ???? ♂️
First and foremost I would like to thank the moderators of this esteemed forum who decided to give me a platform to write and write a number of posts for the benefit of the investing public and all the esteemed members of this forum.✍️
My name is Gil Turiel, 43 years old, father of 2 lovely children, a daughter and a son
In the last ten he combines life in the Holy Land with the United States and lives on the line.
How it started, my beginning in real estate:
It all started when I was on a trip to Isla Mujeres, Mexico, an island of incredible beauty in 2006.????♂️
I was there for about 7 nights and these days I read by the sea on a hammock and coconut to drink by hand the whole series of books by a rich father a poor father by Robert Kiosky, the books spoke to me and I succeeded that when I return I start buying investment properties to generate passive income. For that comes the aspiration and great appreciation to Etty Illuz who bought me these books, if my children and partner for this long journey. ????
I will not write the whole process because it takes a lot of pages like this but I will be brief and note that at the end of the day I purchased dozens of properties in Ramla, Holon, Bat Yam, Rishon Lezion and Bat Yam. Not ten, not twenty, more than thirty properties .. I acquired a lot of knowledge in everything related to financing, mortgages, realtors, renovations, lawyers, I learned to read a building file, meet with the city engineer and in general. In the field of real estate, there is a lot going on in the field on a daily basis. He added that I have always slept in the apartments I purchased and renovated them together with the Chinese Chuan and the Arab "Shi" who worked with me for several years and helped me improve all the apartments I purchased for investment. I brought them food in pots that will always be seventy, on an empty stomach it never works .. ???? I purchased all of these apartments after I had finished my regular work and in the afternoons and nights I would travel to look for properties and study the rent / areas / apartments and their prices by heart. ????
I developed a method for buying apartments below the market price, went in practice and also educated to teach this drink for several years at the Center for Financial Education went in practice in the field itself. ????
Inheritance apartments, housing developers, older people who move to apartments on lower floors, apartments that need thorough improvement, apartments from banks of people who do not meet their mortgage payments [Section of the deceased in the newspaper Calcalit was part of my weekly reading. Want fast deals. Lawyers representing clients of all shades… Brokers who have to deal with transactions that can be attested from the first circle. Notes I would hang in the lobby of the building usually with spelling mistakes (of course with humor) in Ramla, I would simply write the way of writing from the notes in the building itself, with explosives, container owners, taxi drivers, with all developed extensive personal connections and of course with tenants in all kinds of buildings and neighborhoods .
Needless to say I paid much more than 2% to brokers for non-first circle transactions. ????
Everything at the end of the day is connections and people. Realtors, lawyers, bankers, appraisers, and more…
Every Friday I would choose an entire block (Yehuda Stein Street in Ramla for example) and I would knock on people's doors, floor by floor and conduct a general survey, of course some of the survey had questions about real estate, the amounts of tea I drank and the food were huge but moreover the connections I gained The amount of phone calls I received from tenants living in buildings about a tenant who wants to sell for all sorts of reasons is huge and so do real estate, neither from Facebook nor from the Yad2 website. Need to step out of your comfort zone and wait, for opportunities not knocking on your door, it will not happen. One of the deals was a huge ground floor apartment that was worth about NIS 630,000 but had debts in excess of higher foreclosures, no lawyer wanted to represent me because he could not secure my money in trust, after negotiating through a local law firm, Gavinson. . I managed to take down about 50% of companies and just bought the apartment, improved it and sold it at a nice profit after 3 months. ????
???? mi who dares succeed ..
???? Whoever sits on the fence when the train passes burns his butt ..
???? Get out and do, get out of your comfort zone Dear friends ..
I learned how the banks think, I remember entering the Mizrahi Bank in Rishon Lezion in the Beer Mall and applying for 3 mortgages at the same time for 3 different properties in Ramla, the banker dumped me from all the different and noted that each mortgage was separate. I left the branch and went to 3 different banks at the same time to apply for financing and of course everyone approved my mortgages, bingo I am in matters, let the fun begin ????????????
In all of them, I received 75% financing and 90% supplement from EMI for those who know what it is, I received the rest of the financing from my bank, a business discount bank in Rishon Lezion, so I started my path in the real estate world. ????
I took out most of my mortgages (and there were mortgage services, a lot of services ..) I initially took out a balloon loan where you only pay interest for ten years so I created an amazing cash flow transaction on the equity invested. Over the years, I have repaid these loans several times from a number of different banks as the value of the assets has risen and I have extracted equity for reinvestment to purchase additional assets. I estimate I have taken out over 50 property loan loans in my life. ????????
Needless to say, I returned to Mizrahi Bank 6 months later with 3 properties I owned and got her mortgage without a problem from Mizrahi Bank which had rejected me in the past. You snooze you lose ????
I improved all my properties, thorough improvement, plumbing, electricity, baths, toilets, paint, doors, kitchens and more .. I would purchase the raw materials from suppliers in South Tel Aviv. The same goes for the kitchens for apartments.
There is no house that I have renovated or painted the stairwells and railings and the lobby itself - so the whole building was by my side and the tenants would give me valuable information. Who understands will understand and of course full of food, joy of life warmth and love, I was also educated to fix and fix all kinds of problems in tenants' apartments in every building where I bought an apartment so I made connections that can not be found on the Yad2 website, etc. I developed the circuit method of transactions. And the third. By the way, a tip for readers of a site like Yad2. Always look for apartments that are advertised for over 6 months for sale, I made quite a bit of money like that… ????
In 2009 I owned dozens of investment properties, I generated a handsome passive income, I had 2 lovely children, the real estate market in Israel has already grown significantly in prices and it is necessary that the real estate celebration by less attractive and I managed to move to the world. USA Here I come in full force ????????
A little about my work in the US:
Partner, founder and owner of an investment real estate company in the United States
We are active in the southern United States, Atlanta, Birmingham, Alabama and North / South Carolina mainly.
So far we have purchased / appraised / rented about 350 second hand homes
New construction - ** single-family homes **
So far we have built detached houses about 1600 houses (crazy…. Who would have believed that I was Gil Toriel, a simple guy who grew up in Holon would build whole neighborhoods overseas when I was never in the US and did not speak the language fluently, most of these properties went out to the rental market Need passive income for income-producing real estate
** Multi-family ** apartment complexes - we purchased / improved and rented a number of complexes, about 450 apartments in total
At the same time I have been conducting a tool workshop for examining real estate investments in the USA since 2009, many investors / entrepreneurs and also the dignitaries of this forum (some of them) have been in these workshops over the past few years.
In the workshop I convey knowledge and added value to anyone who wants to invest overseas, tools for choosing an area, parameters for choosing an asset, analyzing cash flow expectations, risk analysis, financial education and more. ????????
** What will I write about this week: **
** Monday: **
** Financial education ** - Importance of planning and strategy for generating passive income / pension that does not depend on occupation. (Provident fund, executive insurance, study fund, K401 savings plan, real estate investment), types of loans, Spitzer fund, equal fund, balloon loan, tax planning and more.
** Tuesday: **
** Parameters for selecting an area for investment / Parameters for property analysis **
How to choose an investment area, how to analyze an investment property, how can not minimize risks when we come to invest overseas, what are the closing documents that indicate our increase in the property, how to choose a management company and its purpose. What is a taboo wording and title insurance on the property
What is the difference between old properties and new properties in the US, maintenance…
** Wednesday: **
** Differences between purchasing a private property, a detached house / apartment, all a group investment - **
Detached house ** Single family ** / In front of apartment complexes ** Multi-family **
What are the recognized expenses in maintaining a property in the United States.
Calculation of cash flow in a detached house in front of a shared apartment complex ** ROI, NOI / Cap Rate **
Advantages of group investment compared to individual investments.
** Thursday: **
** The difference between a sophisticated investor and an average investor - passive income **
What are the common mistakes that most “yield” investors make? What is the definition of real estate, what is the aggregate return, current return, increase in value, savings of the loan fund, leverages / loans, legitimate tax planning, recurring leverage, savings plan…
** Friday: **
** In practice ** - will include examples from the field, analysis of sample transactions from the field
How to Make 100% on Equity in 5-7 Years in Simple Investment Without Unnecessary Risk
Proofs of my personal story ..
A wonderful and successful week ????
That we know better times ????????
Regards Corona Macrona
Sincerely,
Gil Toriel ???? ♂️
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