We bought a small apartment in Beer Sheva near the University in 2004 for 40000$ with a 90% mortgage, as an investment. We didn't know much about Beer Sheva (we're from Netanya), so big mistake. Turned out that on the paper, it was an excellent investment with a potential of 9% return on investment per year. But the thing is that too many investors were/are attracted to this area with low properties prices and the competition was harsh. Students had a great choice of rentals, and could afford the best in this cheap area, so it was very hard to find a renter and we ended up renting for almost half the price expected even after a big renovation. After 4 years we sold it for not much more than we bought it. So, in summary, it was too much of a headache for not much of a profit, if any.
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