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Highlights
from an interview with Haim Einhorn:
BY: Christopher Loyd
Haim Einhorn, Manager and key principal of Arbel, born in Israel
in 1955, immigrated to the US in 1979, married with six children.
"It is a great satisfaction when dreams become reality"
Haim says, "I always had a passion to deal with Real Property
ever since I was a kid playing Monopoly".
"Creative" is one of the key words Haim likes to repeat
over and over; "once you have the vision and the know-how to
substantiate an investment, become creative and GO FOR IT!"
"I have never seen a white elephant, not in the zoo
and not in Real Estate, I only met investors who felt they are stuck
with one until we met and explored alternatives they never thought
are feasible". The power of negotiation when keeping focused
on THE HIGHEST AND BEST USE can only do better for a project, I
never understand investors who enter into deals that are at high
risk from the time of purchase
.? I come across foreclosures
that usually result from overpayment; it amazes me how foolish one
can be to overlook such important factor and put himself at risk
in such early stage, the time of purchase.
In Real Estate you should always be a winner, it's just
a matter of how much your surplus will be at the end of the day,
the bottom line it should always be a surplus. If you purchase
right and maximize the potential to its highest and best use you
will always come out ahead even if it takes the time and effort
to renegotiate the entire project with the municipalities, apply
for change of zoning, get necessary variances, tax abatement, review
applicable subsidies etc.. I never sit idle if a project has the
potential of doing better, I will invest all the necessary effort
to make it happen, it is rare that I would accept "NO"
as an answer especially when I sense injustice and potential of
growth.
I like to use my time efficiently in areas where my contribution
is noticeable, the biggest satisfaction is when you see results,
I am result oriented "dreamers will never be able to pay their
grocery bill". The challenge of development gives me great
satisfaction once proven a success, as a rule we do our own "dry
test" testing market demand, we have to be convinced 100% that
the right decision was made, with all my respect to professional
appraisers and market study analysis I tend to trust myself better,
after all it is my reputation on line. As a Broker / Consultant
I have turned down large sums of money for deals that did not make
100% economical sense to me as if I were the buyer.
Money comes and money goes it is the reputation that keeps us in
business and by establishing such reputation we are where we are
and moving forward adopting the same path of SUCCESS.
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