Israel Real Estate Insights: A Conversation with Nachum Segal & Joey Hecht

So, our big fundraiser is coming up, or I should say it differently. It's actually coming to a conclusion tomorrow, our annual fundraiser. I can't even bother our good friend Joey He about our fundraiser because he participated with a beautiful 20 times high donation a couple of months back when we were in the midst of the initial stages of our fundraiser. And he wrote the following. He said, "Thank you for all your inspiring programs and warm wishes, Joey He at Israel OneTop." And Joey's here in studio. We're going to be talking about some of the most recent developments when it comes to real estate in Israel. And I do remind everybody and he does as well. I bet he put his money where his mouth is that we are worth supporting and encourages everyone to give at fjbunity.org. Joey Hack, a pleasure to welcome you back to JM in the AM. >> Pleasure to be back. I feel like I'm home. >> You like this place? >> I like this place. Bar Hashem, how are you? Do you tend to hang out in New Jersey once you've appeared here or you're right back into the Great Neck area? >> I'm heading right back to Great Neck. >> Right back. How long does that take? Generally >> 40 minutes >> and that's it. >> That's it. >> And it's worth to uh it's worth it to come here and to be part of this and we we feel we certainly feel it is because we get an opportunity to speak one of our about one of our favorite topics and that is that the future of the Jewish people is in the state of Israel. And that's something that you can attest to. And you today said to me off the air that you have rabbitic proof, and I don't mean rebbitic proof from 100 or 1,000 years ago, right? >> You said you have rabbitic proof from today, >> correct? >> That the future of the Jewish people is in the state of Israel. >> Exactly. So I was speaking off the off the record with you and I was saying that Rabbi Kman top from LA, >> right? Rabbi Es Kamki from DRS, Rabbi Penner, many of these Rabanim are Rothwax, >> Rabbi Rothwax, not only are thinking of going to Israel personally, but to create a satellite community for people. They have a vision. They see what's coming down the road. And like Rabbi, >> Rabbi Cohen in Connecticut, >> Rabbi Cohen, Rabbi Coltop, who's who's not in retirement age, he notified his just recently came public that he's planning on going to Israel and joining a community. So he's seeing the vision that people are going to be making that move soon and he wants to make sure that people are familiar with the community that they had back home. If you move to another country, even though it's Israel and you go to aul, it's not familiar to you, it's hard to break into the into the crowd. So these rabundam have a vision that your listeners are going to be prepared to buy what Israel wants out very soon. >> And they'll have the synagogue that they remember or at least that resem right that they're familiar with that resembles what they remember. They'll have the rabbi who they obviously are are familiar with or will get to know uh if they're new residents and you would say they'll have the amenities that many Americans are used to. >> Right. I'm actually in high level talks with many rabban which I can't share yet. There's a particular project >> many mean >> two two >> actually is many for these days. >> It it is I mean I spoke to many more but two are very seriously considering making the move. There's a community that I'm working with called Melat which is in Deron. It has it's called a gated community. Not a physical gate but a gated community where you have three huge towers and within that is going to be a shul a pool a multi-purpose room everything that you would need within one place a park open grounds and it's uh three three towers 100 units per tower >> and they have not started construction. >> They've not started they're starting construction will be ready in 3 to four years. So one of Rab I'm speaking to I'm considering putting into this project and the project is open to giving us a separate room to be able to do our own minion our own kdish besides the sh that they already have within the project. >> I'm trying to think cuz I as you know I'm very familiar with Draon >> right >> I'm trying to think it's right a block away from Arnona >> where Arnona ends. >> Oh so it's furthest south than I think >> one block further south with views to the Dead Sea views of all of your >> past that little mall and that gas station. It's right at that corner. >> That's where it is. >> That's where it is. Right at that corner. >> You make a right going down to the mall, it's right there on the lefth hand side. >> It's an unbelievable area. >> Excellent location. >> It really is an unbelievable. >> And I think that's one of >> Oh, and the light rail is going right there. >> The light rail is going right in front of us. So, you're going to be 5 minutes away, 10 minutes away from Emma from Baka. It's It's a >> In fact, if you're going to buy buy on Well, my recommendation is that if you're waiting anyway to move to Israel, buy now and then move three four years from now. Light rail will be finished. So, I'm going to tell you something interesting. Because of my business sense and business background, I'm working on different unique opportunities for buyers. For example, right now the dollar to the shekele exchange is 310. >> Wow. >> It was about 36 37 a year ago. >> 310. >> You're talking about a 20% difference. >> Wow. >> So, I went to the developers and I said, "Listen, you want to entice people, give them the exchange rate on the first 20% as if they exchange it at 3.5." >> Wow. >> That's quite a discount. >> That's quite a discount. and behind the scenes are telling me if you have a serious client that's going to sign, we'll make it happen for you. That's big money. >> That's that you could save hundreds of thousands of dollars in the long run. >> Well, it's only on the 20%, not on the total amount of initial. >> If you wanted to go a larger deposit, you could save more. No, >> 100%. So, I'm saying you can save big money. >> In theory, you could save big money. >> So, I would say 85 to 90% of my clientele are buying new developments. Why? Because if you're buying something as a resale, you're going to spend somewhere between a million and a million two. As an American, the maximum you could take on a mortgage is 50%. >> So come out of pocket today, $500,000. Many of your listeners don't have $500,000 sitting around to do a deal. But on a new development that'll be ready 3 to four years from now, you could get in somewhere between 170 to 220. That seems to be the range that you need today to lock in a price that will be permanently locked in. And when it'll be ready 4 years from now, we would have had already appreciation. And then you can take the mortgage at the back end. So, if you put 20% down now, call it 200,000. You bring it up to 50% 6 months before the project's completed, and then you take out a mortgage >> and you're saving 20 grand if you use the deal that you just mentioned. >> It's a deal that I'm negotiating with many developers. And >> how many have said yes? >> Almost all of them said, "If you bring me a customer that's ready to sign, we'll make it happen. It's a big deal." >> Now, of course, whoever's listening is going to say, "That's a great idea, Joey. I think I'm going to start using that same idea and use it as leverage with the developers." But the bottom but the bottom line is is I'm happy to bring to the to the listeners opportunity to make it easier for them to buy. If anybody's in a position with $170,000 to $180,000, I could get him into a project in Israel and it'll be ready 3, four, 5 years from now and they'll call me and say, you know what, Joey and thank you for that opportunity. >> One stop is dealing with how many projects right now? >> 30 projects throughout the country. >> And how many of them are in Jerusalem? Right now I have four or five in Jerusalem. Interesting. >> I have five or six in Tel Aviv, many in Natana. I have a couple in Ranana. We have throughout the country. >> Uh like I said last time, >> what neighborhood Tel Aiv >> in the main area? >> Yeah. >> In the golfing golf area. There's many Africa Israel's there. A Viv is over there. There's many many new developments there. The problem is in Tel Aiv it's very expensive. 80,000 shekel a square meter, 100,000 shekel a square meter versus 40 to 50,000 shekel in other communities. >> Yeah. You think your lime's expensive? >> Exactly. So Natan in Natana we have projects from 35 to 45,000 shekel per square meter. So you're buying anywhere from 2.8 million shekel to 3.5 4 million shekel. Same thing in your shellim 3 million 4 million shekel range in Tel Aiv it's a whole different ballgame. >> What's the hottest right now? I mean Nata and Ashkalone were very hot. What's the hottest right now? >> It's still Natana and your >> not Ashkalone. I'm telling you right now that this Mela project is unbelievable. I would I would encourage people to go online, look at it. I have some sort of exclusivity there dealing directly with the developer. You call me at my cell number at 516319399 or you can reach me through my email joeisrael1top. That's numeric1.com. I'll be happy to do a free intake. Find out what your wants and needs are, what your budget is, and depending on what you need, I'll make sure to put you into the right market. >> And the project you just mentioned is up there on the website. >> It's up there on the website. Yes. Israel one stuff is >> well not melarat >> it's not there >> no no I don't I don't list all the projects on the website got it >> okay people could go to Melat's website directly >> and they could see it there >> they could see it there or they could call me but I have many projects to put them into >> no understood Joey he here in the studio all right so let's get to the big message here because uh we we're we understand and uh through all throughout all your visits we've gotten to become familiar uh with the service you provide and we'll go into detail about that a little later on but but you mentioned these rabbis you mentioned the rabbitic leadersh, you and I together just mentioned five in major communities around this country, which is amazing, >> right? >> Stamford, LA, Long Island, New Jersey, >> the biggest hubs. >> What was the fifth one? I forgot already. Anyway, um what So, so you said to me off the air that these rabbis know something that many of us may not know. >> Look, it's it's it's not as >> and it's not just that the future of the Jewish peoples in the state of Israel. That was the message that I emphasized cuz that's the message we always give. But you said they see the writing on the wall here in the United States of America. >> Many people are calling me and saying, "Joey, we're scared. We've never felt this way. And we need to have a home in Israel. We need a footprint in Israel." And I think these rabbis see the writing on the wall and they're preparing in advance. Like Rabbi Colin Top, he's a young rabbi. He could have stayed another 20 years in LA. >> He ain't retiring yet. He ain't retiring, but he notified his shul. It just came public uh two weeks ago what came on public that he's planning on moving to Israel to a community and he's anticipating people from his shel or from other parts of America to come join in Israel. >> It's unbelievable. >> Yeah. So, it's not just, believe me, I love emphasizing the positive message of the future of the Jewish peoples in the state of Israel. But there's also a reality. >> It's a scary reality, >> right? And the reality is what we are all seeing and some experiencing here in this country where it's not as friendly as it used to be. I mean unfortunately just the other day in the city there was a friendly snowball fight >> right >> okay I mean we're living through difficult times and people are worried people are afraid to go to shul there was an incident in Manhattan people were there was a real estate event and in front of a shul there was unfortunately demonstrations people are nervous >> right 100% >> and they want to feel that they want to get in if they need people all my clients come to me and say Joey I never would have been able to do it without you I don't know how people do it you >> because you're 6,000 miles away >> you offer every service that you need from the comfort of our home. >> And those services include, let's do this now. Those services include >> brokerage, legal, management, mortgage, money transfer, everything you would need >> under one roof. >> Under one roof >> for the same fees. So the lawyer charges 1% in Israel. I charge my lawyer, my partner charges same 1%. A broken Israel charges 2%, we charge the same 2%. A management company charges whatever they charge, we charge the same percent. We we're not more expensive, but we have all those services under one umbrella. You make one phone call, you have everything. Imagine you flew to Israel tonight. Where would you go? How would you have eight or nine different communities available to you? Even you weren't actually in Israel. Where would you go? Where would you do? >> Understood. >> You're going to look at a banner hanging from a balcony and call a cell number. >> But that's me. >> Well, the truth is if you're driving through Israel, you're probably passing a bunch of >> But my but my point is that's the way it's done in Israel. People literally hang a banner on a building. There there is no Zillow in Israel. It's not like here where you you go to Zillow.com and you put in five towns or grey neck and listings come up. There is no centralized system in Israel. I'm >> That's interesting. >> I'm the Zillow. Israel onetop is the Zillow. I'm bringing you all the newest developments and all the resales all under one roof. Type Go ahead. Type into your computer. You're not going to find anything. And if you do, it could be a listing from 30 years ago. There's no official organized Zillow in Israel. >> The rentals, I think, are organized online. Am I right or wrong? >> Not really. >> No. >> No. People call me from Israel. Do do you have a rental for me in Israel? Calling me in is in America. >> That's not something you do, is it? >> No, I I don't I'll help people if if I could, but it's not my specialty. My specialty is helping Americans buy a home in Israel under one umbrella with ease, with comfort, a seamless process. >> So, if someone wants a pesak program in Israel, they're not calling you. >> They're not calling. >> And if someone wants an apartment in Israel for PES, they're not calling you. >> They're calling me for that also, believe it or not. Yes. They call me for sukus and pesak. I should open up another business. Not a bad idea, frankly. Joey Heft is here. Israel1stop.com. Again, it's Israeltop. That's number onetop.com. We are recommending that those of you who uh are are curious about owning real estate in Israel and actually having an apartment or a home there. We uh encourage you to at least place a phone call or head to the website and speak with Joey and his staff and let them start the process for you. And um >> it's very easy. They just have to call me. It's an easy number. Anybody can remember it. 516 319399. Easy. >> Interesting. You call that an easy phone number. I like that. >> Call Call me, WhatsApp me, message me. I'll do a free Zoom with you. It'll take about a half hour and you'll be able to get into Israel on a project that'll be ready 3 to 5 years from now for somewhere between 180 to $220,000. >> Any projects that'll be ready a year from now? There are some projects, you know, but then you're not getting that benefit because the appreciation's already there. So, the biggest bang for your buck is the ones depending if the project has a permit or not. If it doesn't have a permit, you can put down 7%. If it has a permit already, it's 20%. Or somewhere in between, right? >> So, the the minimum you're putting down is seven. The maximum you're putting down is 20. And then on the back end, it's either 75% 6 months before or 100% at the very end. >> How long does it take to get a permit >> for the building? It can take anywhere from 6 months to a year or two years. These these are all things that are done in advance by the time I'm ready. >> It's not 40 years like the old >> No, no, no. First of all, everything I deal with is bank guaranteed. Impossible to lose your money. I only deal with reputable developers who have a proven track record. I'm not going to somebody who's a private family who bought a parcel of land building 10 units. They call me. I tell them, "Sorry, I don't know. I'm taking a gamble. I want to deal with developers who've done tens of thousands of units already in Israel and have a proven track record." So, you're buying a new property with a one-year guarantee, no headache, from a developer that's done already so many units throughout the country that you have nothing to worry about. Yes, Africa, Israel, Aiv, these are all the biggest developers in Israel. >> There's a Canada project. Are you familiar with that one? >> No. Which one? >> In Jerusalem. >> There's so many projects. >> Oh, there are a tremendous number. >> There's more cranes, I think, in Israel. >> I actually wanted to introduce you >> than anywhere else in the world. >> I wanted to introduce you. Didn't I mention something to you about introducing you to that guy? >> I believe so. So, let's do it. should set up a zoom. >> When are we going Israel together? >> That's a good idea. I was supposed to go this Saturday night, but >> let's leave tonight. Let's leave tonight. >> And I Anybody who thinks I'm postponed, by the way, because of Iran, it had nothing to do with Iran. I didn't even think people once I postponed, everyone's, "Oh, you're worried about the war." I said, "I didn't even That's so funny. I postponed for another reason. I didn't even think about the war. It's so amazing." You know, but the >> thing think about this. If you're buying something today with $180,000 down, >> $200,000 down, and you didn't make the move >> and you waited 5 years, and then you make the move 5 years from now, what do you think that 200,000 would be as a deposit? >> Probably 300,000 >> or 350 >> and the value of the >> and the value would have gone up. So, you're saving both ends. In other words, if you have the ability, and I'm I'm being straightforward to your listeners, it's going to take somewhere between 180 to 220 to get into a new development. That that's the reality. Because if it's 2.5 million to 3 million shekel, if you do the math with the with the 20%, the purchase tax, the broker fee, and the legal fee, it comes out. I did the math somewhere between 180 and 220. >> Are you dealing with part Heights at all? >> Yeah. >> Yeah. How far? >> I told you I told you David Rapen, my partner. >> Yeah. >> Yeah. So, he's we have we have access to all all the projects. >> How far along is that? Are they >> They're also three, four years out. >> Literally in four years, they'll be built. >> Yes. >> It's close to that other one you spoke about. >> Are you ready? >> Yeah. Am I ready? I don't know if I'm ready for parties. What do you say to people that that cannot get to that financial level to make this investment? Is there any hope for those who can't get to that level? >> So, I'll tell you what many people have been doing. They're saying, "I'm going to buy in a partnership." I have many people calling me and saying, "I can't afford a loan, but I'm going to buy with my brother." So, I could come up with 80 and my brother comes with 80. 160 we could do and in 5 years we could always sell it. We could flip it. We could do different things. So, that's what many people are doing. Then it's deed in two names or three names. >> And if a partnership or a trio like that approaches you, you can absolutely my lawyer will write it up on the contract that you bought it as three different names. Just like here, if you buy a house in two names, you get a D5050. It'll say Joey Hakim Seagull. It's it's it's so that's what many people are doing. >> I have to assume that there are some areas of the country that are that are developing that are a bit cheaper than some of the properties we've been talking about in Jerusalem. There is this car may got there are certain neighborhoods where you could get in the 2 million to two and a half million shucker range with the small units the one two-bedroom apartments. The reality is is that most of my listeners are in the age age range from that are buying somewhere between late 40s to mid60s and that and that range. Those are the people that already made weddings already made bar mitzvah already made bad mitzvah and have the liquidity to do this and they understand that they need to buy not only for themsel but for a legacy for their children and grandchildren. Many people say to me it's not for me. I want to make sure there's a place in Israel for my children and grandchildren to go to when I'm not around. >> Right. >> That's unbelievable. >> Joey H is here. Israel onetop. Um essentially it's really it's it's just trying to convince people to give you a call. It's trying to convince people to just say, "Hey, if you really do believe that your future as you as you as an individual, you as a family is in Israel, >> 100%. >> You're here to help." It's like my partners always say to me, the people who want to buy are buyers. The people are not buyers are not buyers. Not going to call you. If anyone's considering buying or is on the fence of buying, wants to learn how to buy, I'll educate you. If you don't end up using me, no, I'm fine. >> I believe once you hear what my services are and what services we provide, by the way, we have plenty of references to refer to people when they call. So, people have raon that bought through me. I have caterers that bought through me. I have hedge fun guys that bought through me. I have a laundry list of many happy clients. So when people are concerned, feel free, call me. You have nothing to lose. What do I have to lose? >> I hear that. Um Oh, I'm just trying to, you know, impress people with how important this is. >> The rabbis that you mentioned earlier, are all of them associated with a specific project or not? >> Two or two or three are going to certain projects >> that they've announced already? >> They've announced. Yeah. And put in the flyers, >> right? And the others are like, we're going. No, but the ones who are not with a specific project. >> So the ones they just announced, we're going. So one of the two rabbis that I'm speaking with is relation to Malikar a specific project >> they have not committed to anything else yet >> it's a gate they haven't committed to anything else yet and when I approached them they said you know what all these other are doing it I like the idea I trust you Joey and and I'm let me think about it and they're thinking about it very seriously I mean it's a big commitment >> boy >> because if I'm marketing that a specific rabbis come to a project they have to be there at least 3 to 5 years well people will be buying based on the idea that this rub is going to be there >> yeah of So, so >> they want that comfort level. >> They want that comfort level. Exactly. And and and imagine you you're going to whatever what you belong to. >> Uh the bialer synagogue. >> Okay. So, imagine you're RV, >> right? >> Made that move >> and you decide to go to Israel and you go to that building and he's the RV in that community. You're going to be like, "It's amazing. Nothing's changed. >> Something you're used to. >> Something you're used to." And and listen, let's be honest, Israel is not easy to acclimate to, >> right? So, this makes it a drop easier. >> This makes it easy. Yeah. I mean you have different you have different nus let's say in area there's a there's an ashkenazi sh with a lab rabbi you understand so and I dive in there for a month straight when I was there looking for an apartment but at the end of the day if you have a young Israel style shelic synic style shaw it it'll be very different or five time a young Israelwood style shul I mean these are sh that I'm familiar with >> imagine you walk into a building you go downstairs and it's like business as usual >> understood uh look you don't have to convince me I know this is the move that everyone's got to make and I I hope that we are effective in convincing them to do so. Go to the website israel1stop.com. Israel1 that's the number onestop.com. Joey Heck is ready to speak to you at what phone number? 516 319399. I want to just add one more thing. >> I charge 2% broker fee and my lawyers, my partners charge 1%. I'm going to take off a quarter% from my side for anybody that calls and does a deal with me. So, I'm going to charge 1 and 3/4%. My partners will make 1%. I'm going to take off a quarter%. That's how much I believe in people buying in Israel. That it's not so much about the money for me. It's about the mitzvah. It's about the It's about helping people understand that our future is in Israel. >> Yeah. That's what we try to convince people about every single day. Thanks for all your support, by the way. >> Of course, >> we're wrapping up. >> I'm going to make another donation by the way >> today. >> Today. Well, right when we hang, I'm taking out my credit card. We're going to do on the spot on the computer. >> Boy, oh boy. I'll tell you. I hope a lot of people follow your example. >> What I do last time? >> 360. >> I'm going to match it right now. >> Here we go. >> There we go. >> I'm handing you my credit card. >> Holy cow. >> Capital One. There's the number. And you're going to put it in yourself. >> Oh, take care. Thank you. >> By the way, this is a very worthy station to support. Nim brings on many good people. Raban, businesses, music. You should definitely support Nakam and his work. And it's my honor and privilege. What is this my fourth or fifth time here now? I'm not I lost count already. Yeah, you've been here a number of times with a very important message. One that I really feel that this is the mission now. You know, I've done this for a long time. There have been a lot of messages and missions over the years. A lot of uh uh a lot of um um uh you know different initiatives I have undertaken. I look at this stage of my career and I think I've said this to you. I look at this stage of my career now just focused on convincing Jews in the diaspora to get to Israel. And I think our listeners in Israel appreciate it. And I think that the as the Anglo Jewish community continues to move from here to there, the Anglo in Israel like it like you like you said, they like the familiarity. They like greeting their brothers and sisters to come and live in the Holy Land. So it's really important. >> I think I shared this with you. How did how did I start this business? It started after October 7th in my garage. I told you this maybe >> two and a half years ago. >> Two and a half years ago. I was very involved in various kind of initiatives after October 7th and ran a community with the city. You're >> known for that. We spoke about >> I did a lot of uh initiatives and I said I had a conversation with Hashem and I said give me an idea that I could monetize the same concept and Israel one stop popped in my head right away within a week I had everything up and running. So I'm telling you this is a mission from Hashem for me to do. I have a mission I have a mandate to help people move to Israel. This isn't like just a business. I I'm successful in the jewelry business real estate. This isn't a money maker for me. This is a mission for me, a mission to get people to buy in Israel with ease, seamlessly. And many of my clients tell me, Joey, there's no how could I have done this without you? That's impossible to find all the moving parts to make it happen with the bureaucracy. And there are challenges, don't get me wrong. >> Oh, yeah. >> There are challenges. My job is to deal with the challenge so you as a buyer sit back and relax. And I deal with everything behind the scenes so you have everything done easily, smoothly, seamlessly, and in five years when you move and you look back and say, "Wow, that was amazing. How'd I do that? Other people say, "Well, you bought through Israel once up. You don't have any issues." And they're like, "No, it was it was easy." People can't can't fathom that because I'm sure you know people who have bought who have stories, horror stories. No horror stories at Israel One stop. >> It is a pleasure to be your partner in this mission. >> I really appreciate that. >> Come back again, please. >> I will >> with a full report about how many more rabbis are moving to Israel and how many more people you help. >> I certainly will. And it's and it's my honor to give people a discount. I just want to encourage people to call me and do a free intake. If nothing comes out of it, it's fine. Just call me 5163193999. Looking forward to hearing from you. Thank you so much for having me back. >> A pleasure. Israel1top.com. The one is the number one. Israel1top.com. A big pleasure to have Joey Hec back in studio to talk about our favorite topic and that is the bridge from the diaspora to the state of Israel. More coming up. It's JM in the AM.