Post Introduction to Oak Abacus
# Entrepreneur of the Week Alon Aboksis & Alon Avgi # Post 1
First of all let's start with thanks and appreciation to Lior and my father who run an amazing forum that has given me a lot of personal value and I asked my first questions here almost 3 years ago.
I started my path in real estate in the United States right here out of curiosity after I felt exhausted in Israel and a huge difficulty in locating deals and in my first post here I asked about investing flips in New York.
I received quite a few recommendations not to approach and not to invest and that this is a bubble that is about to burst and not the time to invest, however at the same time also reactions that gave a windfall with some of which I even consulted in private and asked endless questions.
Finally as always during my life I am a stubborn entrepreneur and yet I boarded a plane to New York with a few dollars in my pocket and from there it was all history.
So I will introduce us first of all my name is Alon Aboksis and my partner Alon Avgi
(First tip, choose a partner with the same name so it will be easy for you to choose the company name without breaking your head !! Just not really but yes I will give real and important parameters from personal experience later on choosing partners especially for real estate)
I will introduce myself first, 31-year-old Alon Aboksis, has been involved in real estate on the entrepreneurial side in Israel for the past decade as a side business. I bought, sold and managed real estate with a cumulative value of NIS 40 million. St. Louis, Missouri, Long Island, New York, and Houston, Texas, and co-founded Alon Abgi with my cannon partner, Alon Capital.
As a professional event producer he works mainly with schools in end-of-year productions such as proms, ceremonies and year-opening performances.
Which allows me flexibility and to be in the US for almost half of the year and develop Alon Capital Partners at the same time.
I have currently made 16 deals in the US and currently on contract for another 12 singles in various areas of St. Louis and Houston.
Alon Abagi, 26, born in England (until the age of six months I lived in England), later we moved to Israel for two years (my family is originally Israeli and a second cousin of Alon Aboksis) and from the age of two and a bit living in Long Island New York.
At the age of 21, after graduating from Hopstra University in New York, I started working in real estate by chance and founded AVGI, which as of May 2022 has a portfolio of $ 100m and over 250 properties across the United States.
In the last post this week, we uploaded a podcast filmed on YouTube that we recorded especially for the forum, where we will expand and dig a little more about how we started and some funny stories (and how sometimes you also need a drop of luck and top supervision in life. And interesting things we went through until we got to where we are today.
We will try to give as much value as possible during the week from our personal experience of falls, perseverance, decision making and a few other things to the soul that will reflect to you a little the mindset with which we work as real estate entrepreneurs and entrepreneurs in general.
In the posts we uploaded this week we will talk about the hottest things right now such as Is the BRRRR model dead as of May 2022 due to interest rates and almost impossible financing options that leave close to 0 positive cash flow?
What does my ego believe in real estate? Cash flow or increase in value and why?
How to characterize what type of investor you are? What is the appropriate level of risk for any investor who wants to start engaging in real estate in the US tomorrow morning and what questions to ask yourself before any investment professionally without relying on the knowledge of the developer?
In addition, we put up a concentrated post with interesting stories and narratives about super successful deals and also those that got tangled up and what did we do to get out of them safely? (We will also share part of our portfolio in the last post we will introduce the company)
What is the importance of local lenders to our entrepreneurs vis-à-vis large banks and lenders at the national level?
We will dedicate an entire post to a beginner investor What to do with $ 50-150 thousand? A small and cheap house in the center of the country with good cash flow or vice versa to enter as part of an investment with a completely passive experienced developer but be part of a package of 10-20-100 houses?
Or maybe you decided to do the work yourself so how to choose a local partner? How to keep yourself at a distance from Israel and what you should pay attention to when building a partnership.
What are the pros and cons in each investment channel and what did I learn about Beshari after I started my journey with House 1 only.
We will of course be happy to ask questions about anything you would like to ask and we will try to give as much value as possible.
So I will conclude with a good night from New York and have a good morning and a good week in Israel,
Are we going to have an interesting week?
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