Zviki, 70, was looking for an investment in Greece and a process that would be simple, straightforward, and transparent. After meeting with the owners of Palmo, he decided to move forward; he subsequently received monthly updates and even traveled to Athens to see the property for himself.
When Zviki was considering a real estate investment in Greece, his decision wasn’t based solely on the property’s price or an assessment of the market’s potential. He wanted to know that the people advising him would be available, that the agreements reached would be honored, and that he would be able to understand what was happening along the way.
According to him, the meeting with Aviv Cohen and Peleg Yariv, the owners of Palmo, led to an instant connection. Within two days, he decided to sign the contract and move forward with the deal.
The decision was made quickly, but his story doesn’t end with the signing. Throughout the project, he received monthly updates via email, visited Athens, and got a feel for the apartment and the neighborhood. For him, that initial trust was subsequently put to the test by the actual execution and communication.
Zviki's Story in a Nutshell
- Age: 70
- Starting Point: Evaluating Real Estate Investments in Greece
- What was important to him: integrity, simplicity, availability, and keeping his word
- Decision-making process: A meeting with the owners of Palmo and signing the contract within two days
- How to Stay Updated: Monthly email updates
- On-Site Inspection: A Visit to Athens and Impressions of the Apartment and the Neighborhood
- What has not yet been disclosed: the exact purpose of the investment, the project, the rental model, and the financial outcome
What is a 70-year-old investor looking for in this process?
Age alone does not determine whether a real estate investment is suitable, but it may influence the set of considerations. A 70-year-old investor may place greater emphasis on liquidity, operational simplicity, the availability of a property manager, and the ability to transfer responsibility for the property in the future.
For Zviki, the main focus was on the people and the way they worked. He sought a simple, direct relationship in which things weren't hidden behind jargon or a cumbersome process.
A meeting that led to a decision within two days
Zviki says that after exploring the options on the market, he met with Aviv Cohen and Peleg Yariv. The connection they formed led him to decide to sign within two days.
Speed was part of his personal experience, but it is not a model that should be automatically replicated. Even when there is good chemistry, an overseas real estate transaction requires reading the contract, verifying the property’s title, understanding the payment schedule, and assessing the costs and risks.
The value of Zviki’s story lies not in the fact that every investor must make a decision within two days, but in the fact that his initial impression was subsequently tested throughout the project. The updates, the visit to Athens, and the alignment he observed between the agreement and its implementation are what reinforced his decision in hindsight.
"How Things Used to Be"—What Lies Behind That Feeling?
Zviki describes the team’s professional integrity in a way that reminded him of how business used to be conducted in the past. As far as he was concerned, the agreement was not just a legal document, but a commitment between people that had to be carried out exactly as stated.
This statement reflects a clear need: to know that there is no disconnect between the conversation and the document, or between the document and what is happening on the ground. He felt that the process was simple and straightforward, and that what was written in the contract was indeed put into practice.
Personal trust is important, but in a real estate transaction, it must be backed up by documentation. Make sure that every material promise is included in the contract, that the specifications are attached to it, and that there are clear timelines and procedures in place in the event of a change or delay.
Monthly updates that bridge the gap
Throughout the investment period, Zviki received monthly updates via email. These updates allowed him to stay informed about the project’s progress even while he was in Israel.
In an overseas transaction, prolonged silence can create a sense of lack of control. A regular reporting mechanism prevents the investor from relying solely on personal initiative and having to chase down information.
Frequency alone is not enough. A high-quality update should explain what has been done, what the next step is, whether there are any deviations, and what impact they have on the schedule. Whenever possible, it’s a good idea to include photos, field documentation, and supporting documents.
From a rendering to a real apartment in Athens
Zviki wasn't satisfied with the updates he received remotely. He traveled to Athens to see the property and get a feel for the area for himself.
According to him, the apartment he found on-site exceeded his expectations. He described it as a cozy apartment in a neighborhood with a pleasant atmosphere, and the visit allowed him to connect the information he had received with the actual location.
A visit to the property provides information that is difficult to glean from renderings: the size of the rooms, the condition of the building, the street, the level of maintenance, and accessibility. However, a positive impression is no substitute for an engineering, legal, and financial review when these are required.
Availability isn't just a gesture—it's part of the service
One of the key points Zviki emphasizes is the Palmo team’s responsiveness. He felt that he had someone to turn to and that the team was available to answer questions and address requests that arose throughout the process.
Availability is an operational consideration, especially when the property is located in another country. Investors need to know who to contact in the event of a problem, a schedule change, a need for a document, or a decision related to the property.
To ensure that availability does not depend solely on personal relationships, it is a good idea to define the communication channels, response times, and who is responsible for each stage. This way, the service remains clear even if personnel change in the future.
Between a Sense of Security and Evaluating the Investment
Zviki describes a process that gave him confidence, but that does not mean that real estate investment is a safe or risk-free endeavor. This feeling relates to how he interacted with the team, not to any guarantee regarding the property’s value or the income it generates.
The story does not include the purchase price, financing, rental income, or yield. It also does not specify the name of the project or the status of the property following the visit.
Therefore, the key conclusion that can be drawn from this concerns the nature of the support provided: communication, adherence to agreements, updates, and on-site verification. The viability of the transaction itself must be assessed using separate data and documents.
What else should a senior investor look for besides the property itself?
For an investor of Zviki’s age, it’s important to assess how much capital will remain liquid after the purchase. An overseas property may entail unexpected expenses, while a quick sale isn’t always possible.
It’s also a good idea to arrange for a power of attorney, establish a decision-making process, and determine who can manage the property if the owner is unable to do so. In some cases, it’s also necessary to consider the implications for inheritance in advance, but we shouldn’t assume that this was one of Zviki’s considerations.
A management company can reduce your day-to-day involvement, but you should review its agreement, the management fees, the authority granted to it, and the terms for terminating the agreement. True simplicity is achieved when responsibilities are clear from the outset.
Compliance with the Agreement as a Test of Credibility
In Zviki’s story, credibility is not described merely as a trait of the staff members. It is linked to the consistency between what is written and what is done.
This is an important distinction because while a sense of trust can be established during a meeting, a real estate transaction takes much longer. Timelines, updates, the apartment’s specifications, and addressing needs that arise are where that promise is put to the test.
According to him, the process met his expectations, and the apartment he found in Athens reinforced the impression he had formed at the outset. This is a positive personal story, but one should not conclude from it that every project will be handled in the same way or that every investor will achieve the same result.
What can we learn from Zviki's story?
Zviki represents an investor who preferred a simple, straightforward process over complex promises. At age 70, what mattered most to him was knowing that there were people available, that he received regular updates, and that what was agreed upon was carried out.
The monthly updates and the visit to Athens gave his trust a practical foundation. He wasn't left with just the impression from the meeting; he had the opportunity to follow up and see the property for himself.
At the same time, the story highlights the importance of balancing trust with due diligence. A good relationship can enhance the process, but the decision must also include a review of the contract, costs, liquidity, management, and the ability to exit the investment in the future.
What was important to Zviki when he chose Palmo?
Zviki emphasized integrity, simplicity, availability, and adherence to the terms of the agreement. He wanted a straightforward process with people who could be contacted throughout the process.
How did Zviki monitor the project's progress?
He received monthly updates by email and later visited Athens, where he saw the apartment and got a feel for the neighborhood and the surrounding area.
Is it known whether the investment is intended for retirement or for the children?
No. The public disclosure does not specify the exact purpose of the investment; therefore, one should not attribute to Tzvi a goal of retirement, inheritance, or a purchase for family members.
What's important to consider before investing as a senior?
It is recommended to examine the amount of capital that remains liquid, transaction and management costs, the management company’s authority, the option to liquidate the property, and how the property will be managed if the owner is unable to manage it himself.
Would you like to explore an investment through a clear and well-explained process?
With Zviki, trust was built through a combination of a personal connection and tangible actions: a contract, monthly updates, availability, and a visit to the property in Athens.
Before moving forward, you can consult our guide on analyzing overseas real estate transactions and, during an introductory meeting, explore the projects available in Greece based on your budget, liquidity, and personal goals.
