by Randy Peyser
Is it possible to create wealth if you’ve never had any? Ask 44-year-old real estate investor, Adiel Gorel, and the answer is an overwhelmingly, positive, “Yes.” Gorel, who was once ‘just getting by’ as an electrical engineering student on a scholarship, has gone on to create an impressive level of financial security for himself. Now Gorel helps other working people achieve a similar level of wealth and financial success through solid, long term investing.
Upon graduation from Stanford University, Gorel accepted an engineering position at Hewlett Packard. Although the job provided a huge upgrade from his previous financial status, Gorel observed that none of his peers, despite having put in ten to fifteen years of hard work, had created true financial security or wealth for themselves. Gorel did not want to find himself in their position ten years down the road.
Having grown up in a family of real estate developers in Israel, Gorel started buying rental properties in Las Vegas. At a time when the market in Las Vegas wasn’t booming and houses could be purchased for a relatively low price, Gorel bought a number of properties. Today, Gorel is getting more than a substantial return on these investments.
But this was just the tip of the iceberg. Gorel, who has become an expert at what makes a property a sound investment, has gone on to purchase thousands of homes around the country for himself and his investors.
So, how can the average person afford to get into the real estate market, let alone, become wealthy as a result?
Although he’s personally bought numerous homes, refurbished them and turned them around quickly for resale at a substantial profit, Gorel does not recommend this approach in general as a very safe way to create long term wealth. The risk factor is too high.
According to Gorel, the safest investments with the greatest long term yield involve purchasing single-family homes in good neighborhoods with excellent school systems. Gorel is not interested in fixer-uppers with high repair bills. Exceptional quality is a prerequisite for the homes he buys as rentals. Gorel also notes that single-family homes, as opposed to apartment complexes and duplexes, attract people who are more stable and more likely to be long term renters. Apartments not only yield a greater turnover rate of tenants and more vacancies, but more headaches as well.
Gorel advises people to purchase choice properties in choice locations. He steers people away from buying in the Bay Area and other locations where the costs are too high, and the returns too small. “In the Bay Area, the numbers just don’t work,” says Gorel. “But in other parts of the country, a beautiful three or four bedroom home can be purchased for around $120,000 with as little as 10% down.”
Gorel knows where and how to make the numbers work. Over the long term, Gorel can also show how investing in the right properties can finance either a child’s college education or help a couple to secure their retirement with relative ease. Gorel also shows how through depreciation, even a property which isn’t yielding a great return through monthly rent payments can still yield a substantial profit for the owner.
One key which makes it extremely affordable for regular working people to buy a $120,000 property is a 30-year fixed rate mortgage. No other country outside of the United States offers this special 30-year fixed rate. Over time, while the cost of living rises, a property will rent for more money, yielding greater income. With a long term fixed rate mortgage in place, although the cost of living rises, the mortgage remains low. Gorel encourages people to take advantage of this unique offer, as seasoned investors from other countries are quick to do so as soon as Gorel tells them about it.
Gorel has identified several cities around the country which meet his criteria for what he considers excellent areas for purchasing real estate. He prefers cities such as Phoenix, Orlando, and Las Vegas, for example; places which boast economic diversity as well as high tech industry. Gorel puts much emphasis on the Sunbelt, an area which the U.S. Census consistently shows to be the fastest growing region in the nation. In addition to numerous, aggressively pro-growth cities, the Sunbelt is also likely to attract a large wave of baby-boomer retirees in the not too distant future.
Gorel goes to extraordinary measures to protects his investor’s properties by hand-picking brokers and property managers. Gorel first tests brokers and property managers by buying a number of properties in an area himself. He learns firsthand which ones will provide the kind of service he can rely upon. Gorel tests brokers over and over again until he is satisfied that they know the kind of houses which will consistently meet his standards and which ones won’t. The same holds true for property managers. His rigorous testing helps assure that his property managers are both honest and accountable.
Because of his ability to buy homes in quantity, Gorel and his company, International Capital Group, are able to offer good deals on any home an investor might want to purchase. The brokers and property managers who work with Gorel readily comprehend the benefits of keeping such a valuable customer happy. Even though an investor may have only purchased one home, that investor has the clout of Gorel’s massive purchasing power behind them to which the brokers and property managers hold themselves highly accountable.
I went to hear Gorel speak last night before a crowd of singles and
couples in their thirties, forties, and fifties. When one first hears
Gorel talk, one gets an immediate feeling of “this guy’s for real.”
With years of experience and a consistent track record of success, Gorel
has created a winning formula to help the every day person secure their
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