From Tel Aviv to Real Estate Triumph: Dani Beit-Or’s Journey

In this enlightening episode of the REsimpli Podcast, host Sharad Mehta welcomes Dani Beit-Or for a comprehensive discussion on his unique journey in real estate investment. Originally from Israel, Dani shares his transition to the United States 20 years ago and his initial foray into the US real estate market. With an engineering background and a quest for a stable financial vehicle, Dani was drawn to real estate for its potential to offer a favorable risk-reward ratio, unlike the volatile stock market. His first property purchase, a rental in Phoenix, Arizona, was made sight unseen, highlighting the commitment and faith he had in real estate as a wealth-building tool.

The conversation delves into the impact of the 2008 financial crisis on Dani’s investment strategy and his approach to client relations during this tumultuous period. Dani emphasizes the importance of being available for his clients, even in the face of adversity, and using his experiences to enhance his knowledge and the services he offers. This period of reflection and reevaluation led to the establishment of more detailed and systematic processes for evaluating markets and properties, underscoring the necessity of continuous learning and adaptation in the real estate industry.

Dani outlines his criteria for selecting investment markets, focusing on metro size, migration patterns, employer diversity, landlord-friendly laws, and climate considerations. He also shares insights into the challenges posed by certain markets, such as Dallas and Houston, due to rising insurance rates and property tax assessments, and the importance of aligning market selection with long-term financial performance. Dani’s approach to market analysis is meticulous, prioritizing detailed financial analysis over general rules of thumb like the 1% rule, to ensure investments meet his cash flow and growth criteria.

The episode concludes with a personal touch, as Dani shares his hobbies, influential books, and a hypothetical conversation with historical figure Ben Gurion, the founder of Israel. Dani’s journey from an engineer in Israel to a successful real estate investor in the US is not only a testament to his dedication to the field but also serves as an inspiration for investors seeking to navigate the complexities of real estate with a strategic and informed approach. For those interested in learning more or connecting with Dani, he can be reached through his company, Simply Do It.

Listen to the Podcast:

 

Watch on YouTube:

Transcript:

Sharad Mehta  0:06 

Hey guys, this is Sharad with REsimpli host after REsimpli podcast, I have a double pleasure of doing this podcast for the second time with Danny better. We tried a new platform last time. And for some reason, the recording was all messed up. So Danny was super gracious to come on the podcast again and share the wealth of knowledge. Thank you so much, Danny, welcome to the REsimpli podcast been a

Dani Beit-Or  0:33 

pleasure again. And you know how those things happen? And it’s quite right. And you know what, in real estate, we always have to be ready for those things, you know? Yeah, even if it’s just technology. So that’s all rolled, right. Yeah,

Sharad Mehta  0:46 

we were trying out a new platform. And then we decided to just go back to zoom and keep it simple for everyone. Yeah, thank you so much, Ben. Hey, Danny, tell us a little bit about yourself. Where are you joining in from? What do you do? And how long have you been doing that for

Dani Beit-Or  1:02 

pleasure? Thanks. And thanks for having me. Always, I’ve always loved the opportunity to share too. I’m Danny bit or I live in Southern California in the Orange County area. I’m originally from Israel, I moved to the States. 20 years ago, exactly. 20 years ago, I moved to Northern California, I lived in Northern California for 10 years, then moved down to Southern California. Unlike a lot of people who hear that and know the path of moving to northern California and maybe to another part of the country. I was not relocated by a corporation by corporate America. For me, I actually started investing in us real estate a little bit over 20 years ago, 20 to 23 years ago, when I was a young engineer, high tech engineer working for a high tech company in Tel Aviv in Israel, looking asking myself what to do with the funds that I was able to kind of the little bit of funds that I was able to save at the time, maybe dabbling a little bit in stocks and options and not really happy about the results and all the risk reward kind of a formula. And I was on a quest. I wasn’t like our life quest. It’s kind of funny. Yesterday, I wrote to someone who asked me about my journey. And I wrote, I started that quest. 2223 actually, probably almost 25 years ago, financial quest or financial journey. And I told the end I said, I didn’t even step down of that financial path, I’m still on that path. Because I always think that there’s always more to learn to teach myself to investigate, it never really ends. But that back then I didn’t know where it’s gonna lead me. It did lead me into considering investing in us real estate. I bought my first rental property in 2002. So about 20 to 23 ish years ago, from Tel Aviv why I bought a house outside of Phoenix, Arizona, and completely sight unseen completely, you know, remotely, no Zillow, no public records online, you know, the MLS document came through the fax looks like if, you know, if anybody knows what a poor fax looks like, that’s exactly how it looked like barely could barely read, you know, the document. So completely different investment investing environment, but for me, it just was very clear message, this is the right path to invest my money. And I kind of fell in love with that concept of us investing in the US. In 2004, I decided we decided my wife and I to just pack our bags and come over and I, to me, there was only one thing to do, you know, do real estate more, get more involved with real estate, I wanted to kind of throw myself into it and just be on the sidelines doing it from the sideline from 2004 Till now, it’s all been remote real estate, you know, investing in other states investing out of state or in other states on a very large scale and helping my clients to do the same. So I’ve done about help clients buy something around 5000 Give or take long term rental properties in more than in the past 20 years in more than 4540 45 Different us metros so everything we do during the large scale, a relatively large scale working with individuals helping them facilitate in many ways I’m very much of a real estate geek but I would say it’s a single family home long term rental kind of a gig so that’s my passion is over there I don’t do every type of real estate I just focus on those things I’ve done different things over the years of the notes and of Dinah liens and tax deeds and land and little bit commercial and, and flipping. I’ve done actually quite a bit of flipping but But the majority of you know, the comfort zone that what I know well, is long term residential rentals out of states kind of our concept. And that’s amazing.

Sharad Mehta  5:11 

I love the focus, man, I love to focus on one niche, and then just like really being the expert, before we get into, like, you know, what kind of clients you’re working with how you helping them. I’m curious, like, what was it about real estate? I mean, you were like, fully 100% committed to real estate, you know, buying again, it’s not buying out of state. It’s like buying out of country from Israel. Completely sight unseen. You know, I mean, you can imagine, like, 20 years ago, no, Zillow? No, you know, WhatsApp technologies where you can easily exchange pictures. It was a different experience. But what was it about real estate that you were like, Man, I have to get my you know, I have to jump in. And I have to get this thing done. Yes,

Dani Beit-Or  5:56 

absolutely. And, you know, I’ll even say, when I started, Google was a startup. Yeah, we use Mapquest Google Maps will not around so it’s, that’s how far back we’re going. Yeah,

Sharad Mehta  6:10 

no, no screen. Google Streetview. None of that. Yeah.

Dani Beit-Or  6:15 

Yeah. So in a way, it’s going to be easier from many, many aspects. Oh, yeah. And, you know, every once in a while, I kind of asked myself, am I in the right spot? Like, maybe maybe you once a year, I kind of get that thought, like, okay, hey, hang on, take a breather, let’s review. You know, maybe I am, I’m kind of squishing myself, Am I doing the right thing is real estate, the right thing is residential real estate, the right thing. And, you know, it all comes back to the same kind of starting point where I, you know, the defined aspect of it is, when it comes to long term residential real estate investing, I think it’s the only mechanism financial mechanism. When I say financial vehicle or mechanism, I mean, everything stocks options are, you know, it’s the only one that I know, it has a reverse correlation between risk and reward. So it’s not risk free. But I am not familiar with many or any financial vehicles, investment opportunities at large. That usually, typically, we know the risk and we work go hand in hand, right? You take you do stocks, you understand the risk reward relationship, you do options, you same thing you’re flipping you’re doing, you know, there’s risk and reward, you know, go hand in hand, in long term residential rentals. For the most part, it’s actually not that there is a reverse correlation. But I think there’s a big disconnect between in a good way between the risk and the reward, you are taking risk, but relatively, the rewards are quite tremendously high, or could be relatively to the risk. And that for me, you know, if you’re kind of thinking about it, that that alone is a is a very powerful, powerful concept to start, you know, considering investing in staffing, it’s true for different types of real estate. But the thing, just the the US residential market presents a very different opportunity, because that is not something I can say on the Israel residential market, right? It’s not behaving the same way, right? It’s very different in many, many ways. And I haven’t checked many places on the world. But that, for me, was the basic, unique aspect. From there. You know, it’s just gotten to be better and better in many ways, again, relatively to the risk, we word that, you know, that I’m I was looking for. So first of all, I could tell that the stocks and options that have done for about a year, a year and a half, maybe two before, I was not happy about the risk reward, the reward were there, but I knew the risk is also much higher. So that already told me Hey, something is off with this formula, I need a better formula. The second thing is, real estate inherently is not typically something you buy on a Monday and sail sail on the Tuesday, the neck the following day, right? So it kind of locks you in when you’re locked in. Even if you get nervous about something, you can’t react quickly, unlike stocks or something like that, like a day trader or anything like that. So it inherently shuts, forces you to shut down the emotional aspect of it. And you have to be more reasoning with everything. Now, there are a lot of challenges. You know, there could be many challenges. I’ve encountered many, many different challenges in many directions, you know, throughout the years, including the crash of 2008, which was a very big, it was an epic, challenging time personally and through the clients that I worked with, but that actually forces you not to take If you can’t take an immediate emotional reaction and sell it, you actually have to dive back in and say, Okay, how do I get out of that? How do I solve that situation? Or how do I, how do I navigate that situation, and I found that I’m good when I’m good with trying minimising the chances of running into problems, you know, but problems or situations or you know, or challenges will present themselves along the way for sure. And I’m good with navigating, you know, the situation, actually, the more I dive in 20 years later, I still feel like I’m digging into different situation, I’m still very good with navigating them. So I think it was a good match between my personality, the risk, we were the lack of ability to respond emotionally. And that was, that was the love the love affair between those two, the right person and the right financial vehicle. And I saw how this could be benefiting me. At the time, I didn’t see how I can help and how through this, I can help and benefit others. I was just looking for my own kind of narrow interests. And I just felt this is the right one for me. So that was the starting point.

Sharad Mehta  11:11 

Yeah, Danny, I 100% agree with that. Man. I’ve noticed that with my own real estate investing portfolio, I bought my first property like 14 1314 years ago in 2010. And when I look at it, in hindsight, I think the risk was very, very minimal. You know, I ran my numbers, I did my due diligence, the risk was very, very minimal. But the reward has been absolutely amazing. It’s been and it keeps getting better every year, market value is going up, the rental is going up. So once you’ve locked in the price, then after that, like everything else is going from there, you’re the revenue potential, your revenues going up, the market value is going up. So it’s been absolutely incredible. And one thing you mentioned, which I 100% agree with, is you also have to factor in your personality. You know, you might look at other people that are absolutely crushing it with wholesaling, flipping, or doing some creative things, you have to ask yourself, Hey, is that something you’re comfortable doing? I was not I noticed when I started investing, a lot of people talking about wholesaling, flipping, just my personality, they don’t feel comfortable. And I you and I have that in common. When I started investing. I before I started investing in real estate, I looked at stocks, bonds, and I just it was it wasn’t a good fit for my personality. Because I would just get like too excited about stock going up going down. I couldn’t take it. And we tell the investor the same thing when it comes to marketing you have to do what fits your personality, don’t look at what other people are doing. What fits your personality you made. You made a really, really good point, I wanted to make sure that I highlight that Kobe, so you started buying properties for yourself. I love that like buying out of country sight unseen before all these, you know, the technology advances that we have, like you really really wanted that freedom of time and money to go after that, that I absolutely respect that well. Then how did it go from what you were buying properties for yourself? Now you have held? You know, you’ve been involved in over 5000 deals. How did that go from there? You helping other investors? Like tell us a little bit about that? Like what does that journey look like?

Dani Beit-Or  13:34 

So I really look at those 20 years ish since 2004 or 20 years, as two periods there is the period leading to the 2008 crash and the period after okay, maybe I should say three periods, the one leading during and after, before it was more about you know, helping people kind of kind of generally pointing them in the right direction they ask questions and very the support level and the new level of involvement was very I would say minimal superficial. It wasn’t not superficial it wasn’t diving into the details as much when the crash hit personally, I had multi I have already accomplished my my five year plan. I was able to accomplish it in about two and a half years. So I had more properties then I planned sooner than I planned it that time I was still a young guy still you know kind of working and buying but I was very much moving forward with with buying as much as I can. And that actually came at a point where I was heavily leveraged heavily dependent my income on real estate and everything got hit meaning both my income and the cash flow, the negative cash flow that I was buying, but using it time buying with negative cash flow was a double whammy. So right there, it threw me into that situation that I have, I had to dive into, into all the details in order to dig myself out of that situation. But the two things that I know happened around that time that me myself, and I made a promise to myself and I write two things that I that I decided to do right there. First of all, I had a lot of clients in, in a similar situation, right? Pretty much similar situation. So promise number one was any one of my clients who’s calling to vent, complain, cry, anything, whatever, right? I’m going to be there, pick up the phone and answer it. So I have, I have taken every single call, and that those type of calls lasted from 2008, all the way to 2000. And definitely nine, maybe even 10. So they started dying off. So for about two and a half years, maybe close to three, I was taking negative phone calls for my clients negative, you know, negative conversations or, you know, not easy conversation to have. And I just I told myself, first of all, leadership is someone who doesn’t disappear when times are tough. Second, maybe they just need to vent to someone, I’ll be that person for them if they need to. Because when someone when things don’t go according to the plan, you’re always looking for someone to blame. You’re never the one who’s responsible, you’re always looking for someone to blame. And you know what I said, I’ll be there, I’ll, I’ll help them, then maybe because I’m anyway diving into the details and myself being in that situation. Maybe I know something that I can still try and give them support direction guidance to, to help their personal situation. And maybe even they’re going through or found something that they worked for them that I can benefit both personally and maybe even share with with the next guy who calls by it. So let me just tell you, this is was not this was not fun, right? No fun to have this conversation. But I kept my word to myself and I was there. When when things started, those kinds of conversations started kind of dying out, or kind of slowing down or even eventually stopping it the outside of the crash when around 2010. When I saw that we are turning the corner, right you don’t see it immediately just saying, you know, when you pass the corner, you actually understand your past the corner, you think at least you don’t even know for sure. Not at that point. The second thing I told myself, like you’ve gone through a very difficult time, personally, financially real estate wise, personally, I took the time to dig and become much more knowledgeable about real estate. And I’m going to take all that information. So at least if I went through that, I it’s my obligation to my clients, to the people I work with who decide to work with us to share that with them. So they can benefit from that by so that was the second promise is at least there. I will leverage that unpleasant times and lots of experience. And I will share it with my with my clients so they can benefit and learn and avoid those mistakes. And basically, I went after the crash and I said okay, I’m building everything from scratch. How do we approach finding markets? How do we approach finding themes? Themes usually means realtors and property managers, how do we train them? What do we want from them? How do we approach to making the analysing financially and evaluating quality properties? I’m very much checklist, checklist systems a process kind of a person. And those all that infrastructure was established was deeply established after the crash. So it’s no longer just very minimal support. It’s detailed. It’s down to the deeper the details. There’s a very clear procedures and steps and systems and support in order for me to walk the path and my clients to walk the path. And I’ll tell you that although I’ve created those paths with all that checklists and systems and support, etc, more than 10 years ago, it’s continuously being refined and improved. I’m actually just making quite a few changes on how we work with property managers, and how and few more tiny changes about how we look at houses. Just something that happens in the past two weeks, right. Those are, one is a major change. And two are minimal changes. But all of them are very, very important for the success for the safety for the improvement of our system. So that has been the second promise is to make sure You know, people benefit from that my experience. And I always ask myself, Am I a survivor of the crash, or in my beneficiary of the crash Am I am a graduate or survivor, I tend to be a graduate or a beneficiary and not a survivor, because that’s how I feel. The crash either benefited me more, it’s more long term with more benefited me, then, then what happened then, and I will tell you, the financial and emotional scars are still not visible or but felt. I haven’t forgot about them either.

Sharad Mehta  20:34 

Now, man, I think you’ve made a great point, everybody goes through tough times, I started my investing journey. I was definitely the beneficiary of the downturn, because I started in 2010. The property values were like, I mean, you could just buy any house from MLS that you wanted, nobody was looking at houses, it was just, it was insane when you compare it to the market right now. But yeah, but it’s amazing that, you know, when you go through tough times, it’s not the tough time that you go through how you come out of those, you know, what lessons you’ve learned how you apply those lessons to your life? That is what tells your character, you know, there’s one is like, you could just, you know, you had all these clients calling one response would be, I’m not going to take this call, you know, it’s out of my control, what am I going to do about the others, hey, I’m going to show up for my client, I understand what they’re going through this, I’m going to be support for them, whatever they want to, you know, do they want to cry, they want to vent, they want to first be frustrated, I’m going to be there for them. And I’m going to learn something from it, and come up with a better process. So when amazing, amazing work on that. How do you like when you came out of it? You know, looking back after the crash and looking at, like 2024. Now, how do you identify markets? Like what if I were to ask you here? What are your top two or three markets to invest in? Danny, what would you say? And how do you identify them?

Dani Beit-Or  22:00 

Well, I have a very clear current criteria. I’ll share with you how I look at markets, and they have to meet that criteria almost to the TIF. And then I’ll tell you a little bit about the exception to the rule, because there are markets that fit well on paper, but don’t fit well in real life. I’ll give you a few examples. So first of all, I like to look at areas around the country that are the Metro is at least one what ideally 1.5, I will probably go to 1 million and above ideally 1.5 or bigger. So size of the metro is important. That migration pattern are also important. I want to be in metros that are repeatedly and projecting to see more migrate us migration patterns that are growing to be on the receiving end of those migration patterns. I want to see metros that are diverse in different types of employers, and do have multiple large employers. For example, Vegas, for me has everything I just mentioned, but doesn’t have the diversification as much. So I’m not excited about Vegas. And by the way, anybody who is looking at Vegas, in the past two crisis’s that happened in this country, Vegas was one of the leading suffering Metro, I’m talking about COVID And I’m talking about the crash of 2008. This is not the case on any other markets. No one none or, or or, or just one of the two. So just as an example. I like landlord friendly laws. So Republican states ideal. All also, you know, I call it an important secondary. And that’s weather weather pattern or I’m more looking at it as i i try to stay away from harsh winters. In that as as you know, this is for example, I don’t really have a problem selling or leasing leasing a house in the middle of winter, in December or January. In Florida. That is not the case in Chicago, Indianapolis, etc. Right. And I don’t normally have a house HVAC heating crashes when it’s vacant in the winter in Florida. Or if it does, it’s no big deal. Right? That’s not the case in the winter, of the harsh of the harsh winter. So that’s why I tried to avoid it’s not that we don’t go to areas with winter, just harsh winter is not my preference. Once they find a metro that qualifies, it’s all about the numbers. So we like to go into the upper middle class, middle middle class, lower middle class, kind of communities, cities and neighbourhoods, and then I want to see how much we can buy for and what is the rent and check the cash flow. So a lot of people like to use the 1% rule. I don’t know if people think it still applies. I don’t think it applies anymore. But I don’t use that rule. Ever. I always dive down to our analysis Excel. I want to See the bottom line, I do not use rent for, you know, I rent is not something I can go to the supermarket and buy groceries. Cash flow is really important. So for that example, we can buy a, you know, a house in a similar area. So the profile is very similar for the community for similar price. And it will still generate a whole, very different cash flow just because of property taxes and insurance as an example. So it’s really important not to be a rule of thumb, which I don’t like rule of thumb, the 1% rule, but actually dive into the data. So for me, it’s analysing multiple properties, you know, segmenting different parts of the metro in order to see how do the numbers work, if at all, and if they work, okay, we are ready to move to the next level, which is setting up teams. But if it doesn’t, we may move to another market. So that just to give you an example of how we go about the general guidelines. That being said, there are exceptions. Now, some of those exceptions are, I think, are only coming from someone with experience or actual experience. So let me give you a few examples. Example number one, Dallas, in Houston, great markets in many ways, they follow the protocol of everything I mentioned so far, but they have two problems. Problem number one, insurance rates in past few years keep rising year after year of the year on an annual basis. So it’s eating into the cash flow. And we are chasing the cash flow on an annual basis, even with 3% interest rates still still challenging for many years. Second, and this is something I see mostly in the Dallas Fort Worth area, less in Houston, but it will probably start trickling counties in that area, as SAS an update property values on an annual basis. So on an annual basis, you get, you get a hit with the property taxes, whether you can protest it or not, or you do or that doesn’t matter. At the moment, I’m just saying it’s a constant challenge to chase the cash flow. So here’s two markets that are perfect. I have, we have many properties in those two markets, I love those markets. Right now with with interest rates, it’s just impossible to to find the Cash to Cash Flow even a little bit. And then you have the problem of year after year after year that those costs are going up. By the way, it’s not the case around the country, counties do not necessarily go year after year and update the value and then the property taxes are increasing dramatically, year after year. So that’s an example of two areas that don’t really work financially. There are, there is another area that have been to which is Atlanta, Georgia, which is again, perfect on paper, perfect after a few years of operating there, me and some of my bigger investors were just enough, we found that the same segment of the market, the upper middle class, middle middle class, lower middle class, we have more issues with tenants than we have in anywhere else and more issues with vendors than anywhere else. It was kind of an official discussion, but it was conversation that was going on. And we all came to that conclusion at the same time. And for that reason, although it’s a great market in many ways. We decided to phase out of that. So the reality was, we were having a lot of issues with tenants and vendors in this market in a similar properties in other markets for the similar population segment of the population. Not even close. So that is another example of something that qualifies but doesn’t qualify. And I’ll give you one more and I’ll be the last one. Oklahoma City on paper perfect. In reality, it 2000 And I can’t I think 15 Or maybe 14 I decided no more Oklahoma City we have quite a few properties there. Why no Oklahoma City? Well, while all the markets around us appreciated quite nicely. Oklahoma City was slagging or kind of appreciated, but not even close to what all the other markets did. So financially, it was just not keeping up with the other ones. So that doesn’t make it a bad market. But I see myself as in a position that I owe it to my clients to find the best option, right? If I know one market after 10 years, after 10 years is and I had properties there I sold them after 10 years it’s consistently showing slow much slower appreciation than other markets. How can I recommend someone to go there when I know almost every other market that we pick are doing much better now? It’s not obviously not a guarantee for the future. But I’m already know this one is not performing as strongly so why would I so those are general tomatin Only hands on experience tells us you know the amount of fine details

Sharad Mehta  29:59 

they The amount of research and detail that’s amazing. So give me your top three market across the US. Okay.

Dani Beit-Or  30:06 

I think Kansas City is a very interesting market. I love I love that. That one. St. Louis is also interesting. I think it’s kind of flying below the radar. If you don’t have a lot of listeners, I’m joking. I hope you do have a lot of listeners, but St. Louis. And when I say the name of the city, I actually mean the Metro is flying below the radar in terms of what’s going on there. So for me, that’s an interesting market. Very much so. And then the third one is Nashville, but people tend to think about Nashville as a metro. For me, Nashville is not a metro it is the Metro of Nashville. But it’s actually the greater area called the Middle Tennessee. That’s a strip throughout, you know, almost almost crossing Tennessee from Georgia to Kentucky. It’s called Middle Tennessee. Nashville is the big, you know, the big one in the middle, obviously. But it’s not just the Nashville it’s much much more than this Metro Nashville. It’s called the Middle Tennessee. Those are the ones that I think are that are good. I will put an asterix and say, I love Florida. If I can continue buying in Orlando and Tampa, I would continue buying in Tampa and Orlando. The problem is, one the numbers are super tight. And two more in Tampa, there’s a lot of rentals. So there’s a saturation of rentals. So right now, it’s extremely hard to find find something that would work in those two markets, because either the numbers or the rental situation. If those change, I would I would probably try to even a little bit I would probably go in I think Florida is a state to be

Sharad Mehta  31:56 

added any insurance issues that you’re concerned about in Florida with all the hurricanes and other bad imitation.

Dani Beit-Or  32:04 

Are you asking about insurance in the sense of expenses or expenses,

Sharad Mehta  32:08 

or even like, incident, no insurance in the term of expenses, and some, you know, becoming harder to get insurance companies to underwrite insurance policies? Okay, it’s not just Florida, you know, I mean, it’s happening in other states also, like, you know, I know State Farm and couple of other big I live in Florida, I live in California, and a couple of other big insurance companies pulled out of writing any new home insurance policy. So that’s happening more and more, you know, in in states that see weather related, you know, like wildfires, hurricanes. So I’m just curious if you factor that in so

Dani Beit-Or  32:44 

so as much as I know, there are mainly two states that are suffering from this, I’m not sure about California, remember, I live here, but I’m not operating here. So I can’t say about California. But Texas and Florida are suffering from that aspect of insurance companies pulling out I don’t know which one is doing is suffering more, but both of them are in that respect. In Florida, luckily, or there is this the the the state run insurance company called citizen, and I think by charter citizen has to ensure you. So you end up with none, this will be your default. And they are fair, they’re not like taking exploiting that situation so far. So citizen is the state run organisation, I’ve used them for few years on at least one property I’m actually chopping around right now and probably going to switch another to them. So that will be the option. I don’t know if Texas has a similar problem. Remember that, as investors, we are the big tail of the homeowners. And if the homeowners, which are the majority of the population in every state, usually the balance is two thirds, homeowners. 1/3 is investors at large, you know, on average, there will be an uproar in Texas or Florida, if nobody’s covering in the states usually like Florida, step in and do something about it. So I’m saying maybe Texas, maybe they’ve already won Texas insurance company, maybe? I don’t know exactly. It’s maybe not going to be cheap in Florida, it always exists. I hope that doesn’t go away. Definitely a concern. But with solutions, and you know, we live in an economy of wealth of solutions, and many times when there’s a gap and other companies steps in and say you know what, it’s I’m gonna it’s an opportunity for me to make more money and maybe structure the policy in one way that the big corporations are saying I don’t want to touch it. It’s too much problems for me and the small company says you know what, for all us, we’re gonna refine it to the TIF and we’re gonna exploit it but at the same time provide a solution that is acceptable. So that’s my anticipation something like this would happen. Maybe you and I can do something about it.

Sharad Mehta  35:13 

Yeah, absolutely, man. Yeah, no, it’s becoming I know, in California once in a bit of tech, Texas, but that’s good. You know, I know, like California and Florida. But But man, this is this has been absolutely amazing. Danny, I bet we’re gonna move on to the next segment of the show, ask you some non business related questions. All right, ready? You’ve done over 5000 deals, what do you do for fun?

Dani Beit-Or  35:37 

What do I do for fun? I bike right by mountain bike, which is I have a lot of places to go to. Driving from my house, I don’t even have to put it on the car, probably two to three times a week. So that’s my, one of my biggest passions. When I’m not mountain biking, I’ll bike with my boy, which is great. And then you’ll spend time with my boy, that’s my most valuable time ever. He’s getting to be 12 or so nice. When I want to do something for my own soul, you know, usually, the biking is does the work does does that. So that’s my favourite thing.

Sharad Mehta  36:23 

It’s amazing. Danny, what’s the most influential book that’s been in your life, it could be a business book, or a personal book, or you could name one of each.

Dani Beit-Or  36:33 

I think the book that I like most is the Time Traveler’s Wife, which when I read, it just blew my mind how an author can in a book move back and forth in time, you know that the concept was just amazing. The idea, they have done a movie about it. So on the book, the book became a movie, which usually, movies do not do justice by the book, I think the movie actually relatively does justice well. So it’s just as a book that I always carry with me. I envied the author or even thinking about it, but also how that takes me through the journey. It’s just mind blowing. So that would be my, my top.

Sharad Mehta  37:21 

Check it out. Alright, last question. If you could spend a day with anyone dead or alive, who would you want to spend the day with? And why?

Dani Beit-Or  37:34 

Good question around what’s happening now, in the Middle East? I would want to sit down with Ben Gurion. Ben Gurion is the founder of Israel, and is the George Washington and of Israel, in many sense, and I want to have a conversation and say, and ask him, first of all, how, what do you think about what became? And also, what were you thinking about few things that you started back then that are still we are still hitting today. So there’ll be something and I know where he’s buried in a very beautiful place in the southern part of Israel. I’m completely okay, having that conversation on that nature bow on it. It’s like about when it’s not exactly about money in the in the, in the residential sense. So I would love to sit in, sit with him there and have those conversations with him. That’s

Sharad Mehta  38:28 

a great answer. Man, that would be a very interesting conversation to have. Cool. If any, if someone wants to connect with you learn more about you. What’s the best way for them to do that? Perfect.

Dani Beit-Or  38:38 

Yeah. So I have a web identity. It’s simply do it so that’s the name of the company all our social media is somehow simply do it anyone who can remember exactly how to connect with us just right real estate simply do it or Danny, simply do it and you’ll find anywhere we’re putting in the show notes. Yeah, yeah, that’ll be great. Our email is meet at simply do it that net meet as in M E. E. T. At simply do it that lead. Obviously, I’ll be happy to connect with anyone who’s, who may think that we can help them invest. That’s what we do day in day out with great joy and pleasure. Cool.

Sharad Mehta  39:23 

Awesome. Danny, thank you so much. I appreciate you. Coming on the podcast again for the second time. I cannot tell you how much appreciate Thank you. My pleasure.

Dani Beit-Or  39:32 

Thank you