In episode 289 of the Nadlan BeShidur podcast I tell my own story: how I came into real estate, the buildings I built, the business that fell and left me with millions in debt, and how I rebuilt myself as a teacher and as a buyer’s agent for investors.
The episode is in Hebrew with English subtitles. If they don’t appear, click CC on the video, or choose English under Settings > Subtitles.
Everything I do rests on my family. I have been married to Racheli for almost 38 years, and we have four children and five grandchildren. Before real estate I served in the intelligence world, and in 1990 I entered real estate, working for about a decade alongside my father.
In this episode
- My first project: a building on 65 square meters in Jerusalem’s Mahane Yehuda market, and what a betrayal by my supervising engineer taught me
- Cottages in Pardes Hanna and Mevaseret, and a family building in Beit HaKerem
- Opening the largest cosmetics school in the country in 2002, and closing it three years later with millions in debt
- Why I refused to declare bankruptcy and repaid everything
- Overcoming stage fright and becoming a lecturer
- A broken property in the Old City of Be’er Sheva that I still own today
- Why every year I set aside time for a personal debrief
- Leading the petition against the “third apartment” law
Learning the hard way
On my first building I hired an engineer to supervise the contractor. One day the site manager put a returned cheque on my desk. It had been written by the engineer to the contractor. They were partners. I settled it through an arbitrator and got all the money back, but I learned that you have to supervise everyone, and that you never stop learning. Soon after, I took a full year of project management studies.
The fall, and getting back up
In 2002 I opened a cosmetics school franchise in Jerusalem. Two years later the franchisor took the name away, and after three years I closed with a hole of millions. I was advised to declare bankruptcy. With Racheli’s support I chose to take the debts on myself, and the banks agreed to spread the repayments. I don’t regret it for a moment.
“When a door closes, or when you close it yourself, ten new doors open.”
Tzachi Quatinsky
From teaching to accompanying investors
Friends pushed me to teach, despite my fear of crowds. Students began asking for advice, then asked me to go with them to buy. That is how my work accompanying investors was born. Today I build a strategy with each client first, and only then search for the property. We buy the property that fits the buyer. We never fit the buyer to the property.
What I want you to take from this
- Stay in the field you know. I should never have gone into cosmetics.
- Surround yourself with advisors, and pay for the best.
- Share your decisions with the people at home. Their support is your tailwind.
- Debrief everything, your successes and your failures.
Buying in Israel from abroad? Start with the Fit Profile, or write to me on WhatsApp.