Israeli Couple Builds Real Estate Portfolio of Four Investment Apartments While Still Renting Their Own Home
Eleven years ago, Yevgeny Bel purchased his first apartment in Netanya, Israel, as an investment, marking the start of a long financial journey. Originally from Ukraine, Yevgeny moved to Israel in 1999 and was inspired by his childhood surroundings where many peers owned homes and cars. Without prior financial knowledge or advisors, he bought a three-room apartment in an older building near a park, leveraging a combination of savings, family loans, and a mortgage covering 75% of the purchase price. The low interest rates at the time made rental income slightly exceed his mortgage payments.
Yevgeny and his wife, Darina, both programmers in their 30s with three children, continued expanding their real estate portfolio over the years. Darina joined the investment path after their marriage, purchasing a second apartment also near Yevgeny's first property, again banking on urban renewal plans. By 2018, they acquired a third apartment in Kiryat Ata at a below-market price, funded through savings, stock investments, and family support. Their fourth apartment, bought last year in central Netanya for 1.85 million shekels, was identified after completing a real estate course and thorough market research. This property is also tied to expected urban renewal and currently rents for 4,800 shekels monthly.
Despite owning four investment apartments, the couple still rents their own residence. They acknowledge the long timelines and uncertainties involved in urban renewal projects, which can take 15 to 20 years, and caution against overpaying for properties based solely on renewal expectations. Their current strategy is to hold these assets long-term for steady income, while postponing buying a personal home due to high taxes and financial considerations.
Recently, Yevgeny and Darina have been exploring purchasing agricultural land plots expected to be rezoned for residential use, viewing this as a promising long-term investment. They emphasize the evolving nature of their financial knowledge and options, including leveraging property value increases and mortgage amortization. Their experience highlights the complexities and dedication required for real estate investment in Israel, balancing family life with financial growth ambitions.
