Foreigner's guide to property market: Opportunities for new olim to invest in properties that can also be used a source of income can be found around the country.
By LYLE PLOCHERYemin Moshe 311(photo credit: Yoni Cohen)Lyle Plocher is the Director of Buy Property In Israel and can be reached by email at lyle@buypropertyinisrael.com.For the last few decades, more and more people work from home doing a variety of tasks thanks to the existence of the Internet. However many foreign investors and new olim are unaware of the “work from home opportunity” that are available when investing in properties. For those olim who are fortunate enough to move to Israel with a reasonable sum of money, one option to gain extra income from a property involves becoming the owner or operator of a Bed and Breakfast operation. Because tourism is such a large part of the Israeli economy, several opportunities exist where a new immigrant could purchase an existing Bed and Breakfast operation and live right on the premises. No driving to get to work, just wake up and take care of your guests!The opportunities are endlessThere are several different types of operations to choose from, ranging from simple Guest Houses which offer lodging only without meals to Bed and Breakfast establishments that offer breakfast only and also establishments that offer both lodging and all meals. For those olim who are religious, there are Bed and Breakfast operations near religious attractions. For those who love the outdoors and recreational areas, there are numerous opportunities to acquire an operation in areas that offer hiking, rafting, cycling and other outdoor recreation. Sea lovers have the opportunity to take on a B & B in one of the many coastal towns offering tourist attractions. Although there is not a comprehensive list of available properties for sale, it is generally feasible to find properties that can be used as Bed and Breakfast operations starting as low as $500,000 or less in rural areas of Israel, with existing operations costing more. Location, location, location
There are Bed and Breakfast operations in virtually every part of Israel, from Eilat in the south to the Syrian border in the North. You can find establishments in cities such as Jerusalem and Tel Aviv, as well as along the coast in Ashkelon, Ashdod, Herzliya, Netanya, Caesarea, Zichron Yaakov, Haifa, Acre and Nahariya. In northern Israel, especially all around the Kinneret and the Jordan River, there are an enormous amount of family operated establishments. The beautiful mountains and forests of northern Israel are also home to a number of properties used for tourism purposes. Places in and around Safed and in the Golan Heights are some of the most picturesque settings in the country.For those who only want to cater to a specific type of guest, there are establishments that specialize in niches such as romantic getaways for couples only, luxury getaways, remote getaways for nature lovers, locations specializing in pampering guests that feature spas, massages and swimming pools, gay-friendly establishments, getaway locations for the religious, for groups, families and the list goes on.Existing business vs. starting a new oneThe fact that so many of these kinds of businesses are already in operation and don’t have to be started from scratch makes the evaluation of such opportunities much easier than all the groundwork required to start a new business. In many instances, the owners/sellers of existing operations will also provide some training as part of the purchase. For assistance in identifying potential Bed and Breakfast purchase opportunities, contact Lyle Plocher at lyle@buypropertyinisrael.com Buy Property in Israel can assist you with all of your Israel Real Estate needs.
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