Global Investors Podcast
GI22: Building a U.S Real Estate Team and Investment Portfolio from Israel with Roei Maudi
November 20, 2019
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GI22: Building a U.S Real Estate Team and Investment Portfolio from Israel with Roei Maudi

For over 6 years Roei, has been building his real estate investment company, Valore which is based in Israel. He helps passive investors invest into US cash flowing assets including; commercial centers and multifamily residential complexes.

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Transcript:

Announcer: Welcome to the Global Investors Podcast, a show that focuses on helping foreign investors enter the lucrative US real estate market. Host, Charles Carillo, combined decades of real estate investing experience with a professional background in international banking to interview experts in all areas of US real estate investing. Now here’s your host, Charles Carillo.

Charles: Welcome to another episode of the Global Investors Podcast. I’m your host Charles Carillo. Today we have Roei Maudi. For over six years, Roei has been building his real estate investment company Valore, which is based in Israel. He helps passive investors invest into US cash flowing assets, including commercial centers and multifamily residential complexes. So how’s it going, Roei?

Roei: Everything is amazing. How about you?

Charles: Doing well, it’s great to have an investor that is actually based out of the country that puts together an investors to invest back into the United States. So that’s awesome.

Roei: Yup.

Charles: So what, what is your professional background prior to starting your current real estate investing company?

Roei: So I’m basically coming from the high tech industry. I was an IT guy specializing in infrastructure and some of the information security. I was doing that, you know, ever since I left the army back in 2011 and I did it up until six plus years ago. That was dumb. I didn’t want to, didn’t want to continue with that field anymore.

Charles: Yeah. Now you started with, when you started in real estate, you started with marketing deals and I guess, bringing deals to other sponsors. And how did you, can you explain more on how you did that and how you kind of structured those deals?

Roei: Yeah. So when I first was exposed to the US real estate industry, I knew that I didn’t want to do a single family homes. Something about the single family homes doesn’t excite me. So I wanted to go to the commercial side to the bigger deals. The problem was I didn’t have experience and I didn’t have money or investors. I was like with zero, experiencing everything. So the one thing I could do is find buyers, find the deals, connect them and take my fee. I didn’t realize that by doing that, I will basically establish and build the network that will allow me to grow to where I am today. So basically what I did is I started a finding in sourcing. You can call them brokers because I used to market deals that started off with $100 million in up. So you don’t get to wholesale deals like that. So you have like the big brokers with special, you know firms that are doing that. So I spend a lot of time doing that and I’ve spoken to thousands and the majority of them are Daisy chains. You know, they’re not direct to the seller, but they’re going to say a lot of things and you learn so much just by doing that. And then you start building your buyers list and people that are really, really big. And you started developing a relationship. One of them, which I burned totally as a newbie by, you know, being so afraid to lose the deals. So I kind of not told the truth. Just I was afraid of losing him a big mistake, learn a lot from it. So I just brought the buyer, brought the deal, put them together and took my feet. But basically that was a lot of work with a very small percentage of success. And at that point you say, okay, all that work and you know, so little results and the majority of the thing is not up to you. So you bring a good deal. And if this guy doesn’t like it, he doesn’t like the seller. He doesn’t like the weather. He’s out.

Charles: Yeah. You don’t have control, you don’t have control over the deal. And then also it’s much harder for when you’re talking to a broker, like you said, Daisy chain. So you’re trying to talk to the actual broker and you’re going through number of different property Scouts that are, Oh yeah, well I got this. Then you owe me 1% and well, this guy wants 1% and you’re somehow paying 5% over the price.

Roei: Exactly. So they sold the property for 250 million. By the time you’d get the real broker, it’s 320 million to pay for the other brokers. You’re right. But then what happened was something interesting. Basically during those searches for good operators are good brokers. I found a great guy that told me, Hey, let’s go do deals on my own, our own, let’s not, let’s stop marketing. Let’s stop, you know, being the intermediate. And at the beginning I pushed him back. I pushed him back, you know, when, you know the sentence would an opportunity knocks. So I slammed the goer on it like seven times. But eventually I said, okay, you know what? Let’s listen to what you have to say. And then he exposed to me the the wonderful thing called nonperforming notes, which I wasn’t aware of because in Israel, it’s not a thing you can do it. And I said, you know what? It’s interesting. And I started learning with him, the entire field of nonperforming notes for about nine months going back and forth to the US you know, checking, I put $100,000 of my own in it, just, you know, to make sure it’s actually going to work. But then we started off we bought a portfolio of 60 notes and then, you know, my entrepreneurship really started, you know, doing deals, being active on it.

Charles: Can you explain nonperforming notes? That’s not something that’s normally spoken about or like a mainstream concept for the most part.

Roei: Yeah. So basically when you take a loan to the bank, the issue of note, so a note has two statuses. Performing and non-performing. Basically means performing, the borrower is paying the loan every month, non-performing the borrower as a default, you know, he’s not paying and that loan either performing, or nonperforming, can be purchased from the bank. Actually Fannie and Freddie, that’s what they do. They take money. They take clothes, they buy loans, packages from banks and they’re buying the notes.

Charles: This is on residential and that you, what were you buying and were you buying resident?

Roei: Just no. Commercial plaza retail, street malls Plazas. I never did a single family owns, I know, believe in single family homes. Nonperforming notes me specially. I don’t say it’s not working, it’s working, but for me, you know, evacuating someone from his home. Not a good karma to me. So basically you buy the note. You want to buy it at a discount. So we got the notes and I’m between 10 to 30% discount back in those years. And then what you do is you do some sort of legal phase. You go through a certain legal phase where you take control over the real estate. Now you have other exit strategies that you can do with the note, but we’re not going to go deep in that. Right. We took over the property because we wanted the real estate. Once you get the property, it’s a simple real estate transaction. So you stabilize it. You know, you bring in quality tenants. And then you sell it after a year. So basically the cashflow is not that amazing in retail. Basically in Los Angeles to San Diego, we were at about 5%. But the upside is amazing because you buy it at a discount. So basically after all expenses back in those years, after everything, we were 50 cents on the dollar. So that was amazing. And the returns were amazing.

Charles: This is like 2013, 2012

Roei: 2014. Yeah.

Charles: Okay. Awesome.

Roei: But then economy grew banks were not giving us those discounts, so margins were becoming very, very risky. Our last two notes, we were raking even, we didn’t do any profit on we were zeroed. And that’s where I decided that this is going to be too risky for the reward. And I shifted to a more cash flowing solution. Now I knew, again, single family homes is not the product for me. So multifamily was the natural choice. And I’ve been in that area in the past two plus years investing in multifamily properties

Charles: And you went in to purchase a $10 million worth of multifamily properties in your first year, and then you kind of, you can pause what happened there.

Roei: So that’s a very good lesson to everybody that is hearing us and just for that less than the loan, it’s worth listening. So basically I started and I had like an ego that cannot feed the room. Mmm. I wanted to do everything on my own. If I didn’t do it on my own, then I’m not worth anything, you know? If I’m not doing a to Z, then it’s not worth the deal. It’s not worth [inaudible]. And even if I have to, Mmm. If I need to earn $100,000, and if you’re coming in, you’re taking 5,000, then no, no, no, no, no. So I did everything on my own. From building to teams to due diligence to getting the loans, sponsors, asset management, everything. No. Being on the other side of the world. You know, we have advantages like great food, great weather, but we have big disadvantage that our response time is way, way further than someone who was local. We can actually go to a property and check it out. So I found it very hard to respond in a timely manner before someone else is issuing a landlord and taking over the property?

Charles: Where are you focusing on in this time? It’s as all on California or what other markets?

Roei: No, no, no, no, no. California was just the, the nonperforming notes. Right on the multifamily, I’m focusing in the Southeast markets. I’m focusing on Virginia, North Carolina. Those are the markets that I’m in. I’m considering a few other markets. But at that time I was investing in Virginia. So you learn a lot about herself in the process during you know the investments. So you, you say, okay, you know the sentence if you want to if you want to go far, you go together and you see you want to go quick, you go alone. So that’s kind of the essence. So if you want to really grow and do things and you know, have fun, you’d do it together with people. If you want stress, if you wanna you know, you want to earn 100%, but very small chunk of the a hundred percent a sport chunk of the market, I mean, then you’d go alone. After 12 months of not getting anything and not closing anything, I stopped and I asked myself, am I enjoying this? No. Am I stressed? Yes. So I left my job that I was trusted to be in a business that I’m stressed in. It doesn’t make sense. And then I understood that it changes needed. And we’re going to talk it about spirituality in a second, but those, you know, hand in hand right now, and this is the lesson you learn that you want more people you want to no what you’re strong at and find people that compliment your weaknesses. And then the smile is back in my face results start to happen, you know, and I’m telling you from the guy with [inaudible] a big ego, I’m having more fun right now knowing that other people are glowing with me financially business wise, you know, and you know, understanding that I don’t need to do something I hate or I’m weak at, you know, it’s so comforting. It’s so, you know, it’s so peaceful and that’s exactly where I am right now. And I mean like in a pivot point of growing.

Speaker 2: So if you’re based a seven, eight time zones away from the United States or from the East coast and you’re buying properties in Virginia what, what systems explain your team set up a little bit and then the systems you have in place.

Speaker 3: Okay. So I’m going to explain the new team because the old team was not making sense. I did everything on my own remotely wasn’t working. You know, you hit one year wise is it’s not going to be systematic. So basically, I I divided the entire multifamily business into sectors. And I said, okay, what am I good at and what do I weekend and what is and advantage for me geographically? And what is it, this and that. So the number one thing that I understood that it is a disadvantage is the fact that I cannot source details and I cannot underwrite deals and visit deals in a timely manner because one, once the broker is sending me a deal, I’m asleep. And by the time I wake up, 300 investors on his list already did the work and replied. So that’s number one.

Speaker 3: Yes. Number two is the ability to just jump on a plane or drive a car, half an hour, one hour, and be at the property and meet with the broker, you know, break bread with them, talk about the deal. So that’s the number one thing. Having someone an owner operator was very important decision to me that can sores, did deals underride them in a timely manner and actually go and do site inspection for a go-no-go decision. The second thing is property management companies. I’m not working with one. I’m always saying a business that relies on one one property management, one broker, one everything is it major risk. So I’m working with two, three, four property management companies. I’m working with two or three title companies, two or three insurance companies and I have boots on the ground in every area that I’m working in.

Speaker 3: So, you know, the guy that you know, does the small errors, you know, I need to have those documents send over. I need you to go to the lawyer and knock on his door and get the files done. And by the way, I have two, three lawyers in place. Mmm. So everything is set up, CPAs, whatever. And I’m in charge of everything. I’m involved in every aspect from acquisition to sale, but I’m going to give my owner operator the local one. I’m going to give him priority on underwriting and sourcing and we’re going to do the asset management together. Because I think to set of two sets of eyes is amazing. You don’t know how many things I’ve missed on my properties before I put in another guy to take a look. And basically I’m taking care of all the money, raising all the marketing all the taxes and everything else. Asset management, of course, broker relationship. And of course I’m sponsoring the loan risk capital, all of that. So basically that’s, that’s the that’s the system. Those are the teams. And I’m working in very small groups so that every person in the team has like a significant role. He feels like he’s [inaudible] contributing great value. And it’s not like 30 people in a team that everybody’s just doing a chunk. Yeah,

Speaker 2: No, it’s great. It’s great to have. So boots on the ground and you’re handling the money, raising your, and then you also have a part of every, every keep an eye on every portion, every kind of part of the process from acquiring the property to when you’re selling the properties, if that’s the plan or refinancing the w what type of software are you guys using? What do you use for group software to collaborate?

Speaker 3: So basically right now we’re just checking a few platforms, but I think what’s gonna win? What’s the, what’s, what we’re going to choose? At the end? We’re Leah HubSpot, which seems to be a great fit for us right now. I’ve looked at several things, but I think HubSpot for now, I put until this point we use Podio. But it’s too complicated, too complex. And we just need basic things at the moment. We use you know, Google sheets, whatever, but it’s not good any more. You want to do a collaboration with a lot of files, integrations, notes, whatever. So we’re gonna, I think we’re going to start using Hudson. Hubspot. We’re basically we’re making that decision tomorrow. So

Speaker 2: Yeah,

Speaker 3: I think it’s going to be a hotspot.

Speaker 2: Yeah. We use HubSpot as our as our CRM. We use Slack a lot for collaborating with all different parts of our business. Podio is a big thing for wholesalers. Every time I speak to a wholesaler, they use Podio. I don’t think I’ve ever spoken to a wholesaler and they’ve never used it. So

Speaker 3: There’s your one guy who sells courses that gets like a fee from Podio cause everybody’s [inaudible]. The whole centers are using Podio.

Speaker 2: Yeah, that’s probably true because everybody uses the same course too. I forget the guy’s name. But yeah, no, that’s, that’s great. It’s because it’s a, it’s so important when we work with obviously people in other time zones as well and being able to drop something in the Slack or into whatever, and in the morning you have that already taken care of and you can run with it. So there’s really no downtime in your business, especially for you where you’re literally one business day, I’m behind the rest of your team that’s on the ground. So you have to kind of figure out exactly who’s taking care of what. And you’re all on the same page because when this, as you said before, very competitive where we are right now in the market in 2019. So, but what, what problems have you experienced with being long distance? How have you kind of worked with them? How have you [inaudible].

Speaker 3: Okay. So the number one problem that I mentioned was, Mmm. Being that far away, your response time is ridiculous. Number two is a lot of the times you spoke to brokers and I spoke to brokers and they heard, okay, this guy’s from Israel, let’s send them all the bad deals that we have. And you know, hopefully he will not notice that he will not catch, you know, and not touch it. So I saw that happening so much. Sure. Well, that was a problem. The way I solved it is I used my mentor as he’s, he’s local. So I used him and I S I always introduced him on the call and I showed his experience. I told him this guy is managing 10,000 units. He owns 6,000 units. He’s going to be, you know, following with me on the deal. He knows Virginia pretty well, you know, he’s basically either purchased or managed every property in, in my area.

Speaker 3: And then they would, you know, they would know, okay, there’s someone watching him and watching him. So we’re not gonna, we’re not gonna do something, but that’s the number one problem. The number two problem that I faced was communication because you’re not able to jump on a car, go to the property management’s office or speak to them in a timely manner. You know, you have to find ways of communication that, you know, we both agree on. Mmm. So [inaudible] that includes a lot of sacrifices for my side. Meaning I had meetings at 2:00 AM if needed my time or I had meetings during my family time sometimes when things were very critical or you know, before closing. So those are the challenges. Mmm. I think everything else is pretty much straightforward. Yeah. You have other challenges when it comes to foreign investors money in tax wise.

Speaker 3: So if you’re not really a citizen, you have something called withholding tax, then the IRS is doing, they’re holding like 36% of the profits. Oh. So that’s a big chunk. So a lot of the investors are, you know, backing out because they say, Oh, 36%, that’s a luck. But once we explained the process and we say, okay, you’re going to get it, you know, first quarter of the next year, then they’re kind of, you know, but it’s another hurdle to pass. But basically, Mmm. If I can save in one sentence, establishing relationships is the big challenge when you’re working like half across the world because talking over the phone and saying, Hey, hello, my name is Roy. I’m a cool guy. Trust me. I’m going to close. Okay. You know, heard that.

Speaker 2: Yeah. Yeah. That’s great for having someone that’s US-based. And I think it’s, it’s not only, I mean, just not being local. I think anybody that’s new to any markets can come into some of the same issues that you found when you were contacted people in your city or from Israel and stuff like this. But when you have the, on the boots on the ground, boots on the ground person, they kind of vouch for you that knows the market inside. Now they’re not, they’re now going to be a, probably a little bit more serious with you. They’re not going to waste your time and give you deals that might actually pencil out. But so when you were saying about the 36%, cause that’s not something I’ve really spoken about before. So 36% withheld now that is done by this indication. So by your group and then you have to pay it to the government. And then after obviously explain a little bit more about that.

Speaker 3: Yeah. So basically when you’re, I think it’s either 36.8 or 38.6%. So basically when you’re a, a foreign national the IRS says, Hey, I have nothing that I can use to get the money I need. You’re going away. So they’re not going to go to Israel to get $4,000 from a person. Right. So what they’re doing is they’re saying, okay, who’s the GP on this deal? Who’s the GP on the LLC? Because we’re the ones who sign spaz on the loan as well. So we have liability. So they’re saying, you guys as GPS, you need to get us a check. Four 38.6 person from all the profits and send it to us. Now what they do is each one of the investors is filing their tax returns, they’re getting theirK ones, then they’re filing their personal tax returns. And then the IRS is looking and saying, okay, we took 38.6 this guy only needs to pay 10% so he needs to get back 28.6 and then they’re writing him a check, personal check under his name. It’s not getting to us. So he’s getting his check mail to him and he can, you know, cash it out anywhere you want. So that’s kind of the process. But that’s another hurdle that you know, us citizens don’t have to deal with.

Speaker 2: Yeah. Not directly, not, it doesn’t have to be something. And when he says the GP means the general partner, the ones that are putting together the deal now the, the portion the question I have in regards to that is for, are your investors usually having their set up with their own us LLC or they are investing directly in their own personal name?

Speaker 3: So that varies. If a guy is doing the first deal, he will basically invest it under his own name. If I die, owns multiple properties or invested in multiple properties, then they will probably open an LLC and do it from there. There are some people that open we’ll open an LLC just for one investment because it’s very big investment. The one thing you need to understand is foreign. When you are invested in the U S you need to issue an ITN. So that’s an international tax identifier number. With that that you cannot do anything. You cannot find the reports and everything. So it’s a onetime feeds, it’s like $100 to issue. Mmm. And then you can invest it under your name or our neuronal seats. Not, it doesn’t make a difference.

Speaker 2: Yeah. They can use that for, like you said, under their own name or opening up now an LLC and getting an EIN number. Been a CPA that’s well versed in this can help them with that. Now when we spoke previously, you were saying that the reality of realizing your goals and then the actually accomplishing on them, what do you think your requirements are for success?

Speaker 3: I think

Speaker 3: Number one is understanding that what you want isn’t that far away. You know, because [inaudible] when you ask people, especially in the multifamily market and you ask them for their goals, no, probably here I want a re I want to hit 500 million, I want to get to a billion. I want to get to like, I don’t know what, but if you see down and you say, okay, what do I need in order to live amazing lives? The best life I want, what do I need? And 100% of the time you’re going to find out that the number, the real number, he’s like significantly lower that what she think you want. No, that alone reduces the stress levels [inaudible] here, you know, when they were here. And then it’s more, it’s easier to build a plan because you don’t have to own it. 80 properties, 80 buildings right now you just need to own five or 10, but you have to do them the right way. And then you were, you’re hitting your goal. The number two thing is realizing that getting 10% out of a billion is bigger then doing 100% of a million. So that’s kind of in the situation of goal settings. Now, the other thing, and that’s the most crucial part, is understanding the spiritual world, which is aligned with business success.

Speaker 3: [Inaudible] You know, we don’t have time to go into the spiritual world, but understanding that mentality and you know, what you think and how you act and your beliefs are there, wrecked results of what you’d get. And transforming is the number one goal that everybody needs to put in their goal list. So it’s not about, you know, doing the $1 million a year, that’s nice. But investing in yourself in how you look at things, how you approach people, understanding people. When you are relaxed and you have the right mindset, then business comes much more easy. Or you, you get results faster. You get your goals faster and it’s a process, you know, and everybody here today is like, they’re wanting the instance, you know, you know, I want to in one year, I want to be a billionaire one year. And where do you, Warren Buffett?

Speaker 3: And nobody respects the process anymore. Everybody’s talking slogans. I always taste slogans, you know, and we spent the process respectively, you know, the path, blah, blah, blah, like nobody who actually does it because everybody’s interest to make a quick profit. And you, when you do a quick profit, it’s exactly that. Just a quick profit. It doesn’t have any value. And I had one video. Mmm. I had one video that had an amazing sentence and then I always reminded myself, anything of meaning and value shouldn’t be easy. Mmm [inaudible] for me, that’s, that’s the whole purpose of a goal. The goal is just a way to improve yourself. So if you want to earn $1 million, that means you need to be, and very skilled human being, you know, in order to reach $1 million, it’s not the million dollars. It’s who you become, you know, until you reach that goal.

Speaker 3: And even if he didn’t reach that million dollars, even yourself, you know, I don’t know when you started, but look back on when you were starting and where are you now? You’re a completely different person. And for me, that’s the essence of spirituality and setting goals. So always said goals to make you a better person and a better business person, more skilled. So if I’m talking about the you know, purpose of life or why we’re here, it’s for two things only just do always do the personal development, like the spiral that keeps going up. And the second thing is accumulate experience with the people we love. That’s it for me. Yeah. So I’m working on the spiral while accumulating experiences. That’s for me, the goal is same. Yeah, that’s a very important thing when you said and it’s also, I mean with today, there’s so much buzz around all this multifamily or anything with real estate and the people trying to push it need to get the deal done by the end of the year, need to close so many units.

Speaker 3: Those are the people. It’s more experienced operators like us, we’ll be picking up those properties in three years, you know what I mean? Because it’ll just come back on the market. Like what we were talking about before we started filming. But the other thing too about I may start purchasing multifamily myself in Oh six and the thing was that I have a list on my computer and it’s everything that I’ve done wrong in business and then and wrong in real estate and I have a list of stuff I’ll never do or stuff that happened that you can then cross check yourself because then you’ll get into a situation was wow, that was not going to do that again. And then you put it in there and go, well what was that issue? What was that? And you make a list and that’s, that’s pretty much like you’re saying all that experience, what you’re learning from everything.

Speaker 3: And maybe you don’t make that much money. Hopefully you don’t lose anything, but then you can learn from it. And it’s just something you can avoid. So down the road 10, 12 plus deals maybe in your, you’re like, okay, well now I’ve kind of eliminated a lot of issues that I know have been know, have been problems. So that’s great. So when you speak to new investors, whether they’re passive or whether they’re active, what type of books do you usually recommend to them to start with? So basically I need to admit something. I was not, I’m a book guy until I think a few months ago. I was convincing myself that I couldn’t read a book all my life. I would, I would tell people I, I stopped reading at the age of six and doing the spiritual work on myself.

Speaker 3: I understood that that’s just a belief. And when I did it, I started reading a lot of books. So for me one book that I will definitely recommend that we really made an impact on me is miracle morning. Bye. Hello everyone. Amazing, amazing. If you can just read it and implement it. The key is not reading a book. Nikki’s taking the essence of the book and implementing it, understanding it and put it into using your life. Because you can read a hundred books if you’d not doing anything with information. It’s not worth anything. But for investors. Mmm. Maybe in terms of investments, I would say rich dad, poor dad. But in terms of, of, of quality of life definitely a miracle morning. Yeah. He, that’s an amazing book and that’s his story. I heard him speak live once and that story is is is amazing as well.

Speaker 3: I mean, what, eh, just you’ve got to read if no one’s ever read it, that’s something you definitely have to read. Yeah. Rich dad, poor dad gets people out of the whole employee mindset and that’s, I think the whole goal of that book is just opens your eyes. And it’s amazing how many people, I never were rich, that board, I was in the first book, I read a Robert Kiyosaki cause he has so many, but I ended up doing, I ended up reading it years later. And it, I mean it’s if you don’t grow up in the, I grew up in a very business owner, entrepreneur family. So it was actually, but most people don’t. So it’s something where when you read it, it’s, you know, it makes perfect sense. But so how can people learn more about you and your company? So basically I’m a big, big enthusiastic teacher.

Speaker 3: So I love to teach. I love to talk. I love to network with quality people so people can go on my website, which is www dot Valora dot. C O. Dot. I L. V a L O. R E. C. O. I. L. A. You can either search me on Facebook or you can like my Facebook page, which is Valoria real estate, V a. L O. R. E real estate. And then the majority of the content is in the Hebrew. But you do use Google translate. You can message me. And of course I’m also on LinkedIn. Mmm. And feel free to reach out if you want to talk, if you want advice, if you’re, what a work with foreign nationals. If you’re a foreign national and you want to connect whatever you feel like talking to feel free.

Speaker 2: All right, that sounds great. I’ll put all those links in the bottom of the notes and I’m so it’s easy for people just to pick and Google translate does work really well on your web page. I know that for sure. You said before our call before doing the interview,

Speaker 3: We’re going to really, we’re doing right a rebranding right now for everything, so the website is going to be redone all over again.

Speaker 2: Okay, perfect. Well thank you very much for being on the show and we’ll talk soon.

Speaker 3: Thank you for having me.

Speaker 2: Thank you. Hi guys, this is Charles from the global investors podcast. I hope you enjoyed the show. If you’re interested in investing in real estate and you don’t know where to begin, set for free 15 minute strategy. Call with [email protected]

Speaker 1: Thank you for listening to the global investor podcast. If you’d like to show, be sure to subscribe on iTunes or Google play. To get new weekly episodes. For more resources and to receive our newsletter, please visit global investor podcast.com and don’t forget to join us next week for another episode.

Speaker 4: Nothing in this episode should be considered specific, personal, or professional advice. Any investment opportunities mentioned on this podcast are limited to accredited investors. Any investments will only be made with proper disclosure, subscription documentation, and are subject to all applicable laws. Please consult an appropriate tax legal, real estate, financial, or business professional for individualized advice. Opinions of guests are their own information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of Harborside partners incorporated exclusively

Speaker 5: [Inaudible].

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About Roei Maudi

For over 6 years Roei, has been building his real estate investment company, Valore which is based in Israel. He helps passive investors invest into US cash flowing assets including; commercial centers and multifamily residential complexes.

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