It’s easy to understand how most of Shmuel Shayowitz’s business is referral-based, as he has spent well over two decades personally and professionally helping clients manage credit, build wealth and maximize their real estate holdings. Shayowitz, who is president and chief lending officer of Approved Funding and a longtime contributor to The Jewish Link’s real estate pages, has expanded his impact in recent years increasingly as a financial coach and business strategist, helping clients both on a volunteer basis and privately, in addition to his work as a mortgage financier.
“My goal is to help everyone in their own personal and unique way to achieve financial freedom and lead a fulfilled life,” he said.
Shayowitz explained that his frequent appearances on webinars, in news articles and podcasts, and at community events show how much the community craves knowledge and understanding about money. In addition to mortgages, real estate and personal finance, he often speaks about real estate in Israel, career maximization, budgeting and financial literacy.
Shayowitz explained that after the 2008 market crash and subsequent subprime mortgage crisis, he found greater value in coaching and volunteering through various groups and associations, with an eye to helping people gain the financial confidence to achieve their goals. Many of these conversations can help clients maximize their equity or strategize in other ways to increase their wealth so that they can make more confident decisions later on.
As part of his mission to help anybody in need of guidance, Shayowitz volunteers his time to give financial counseling and personal coaching through a number of organizations, including “Living Smarter Jewish,” The Jewish Entrepreneur (TJE), the Orthodox Union, Project Ezrah, several local chambers of commerce as well as professional real estate associations. He’s been a frequent guest on the Kosher Money podcast and is often quoted in the mainstream press about real estate, mortgages and personal finances. Those he advises may be early, mid or late career professionals. They may not yet be homeowners or may be decades into their homeownership.
Shayowitz suggests that “the three pillars of managing money are professional objectives, income creation and financial planning. When all three of those are distinctly optimized, a person can experience an abundant life.” Shayowitz says that he often works with mentees or clients on evaluating debt, managing their credit and assisting in cutting expenses and, for many, that has had a tremendous impact. However, for other people, after they’ve done everything they can, it’s about maximizing their assets or pursuing additional income streams. “I’ve recently partnered with a career advisory company that offers a very unique kind of personal assessment, profiling and consulting. We help people discover their hidden strengths and talents and identify additional income streams in other industries that better suit their capabilities, or sometimes there are those who reinvent themselves altogether, and recognize different jobs or roles that would better suit their skills,” he said. “It’s gratifying to be able to add that component to help people bolster their income.
Describing many conversations that he’s had in recent years, particularly in the last six months, Shayowitz has been very proud to be part of many discussions about Israel. Sometimes, it’s an immediate need for those looking to make a move imminently; other times, it’s a longer-term discussion that needs careful planning and guidance. Those looking to acquire real estate in Israel have “definitely been having conversations [with me] more frequently since Oct. 7,” said Shayowitz. “ Despite the fact that purchasing something might be extremely intimidating, the market in Israel has changed dramatically for the better over the past few decades in terms of availability, banking and financing conditions. What was more of a nonstarter 10 years ago is now a much more tangible conversation in which many can participate.
Shayowitz explained that the home buying process anywhere requires a lot of hand-holding. “Today in America, through technology and through sophisticated banking you can do a lot online. If you want to do something in Israel, however, it requires a personalized journey and you need a whole team. But it’s certainly easier and more attainable than people think,” he said.
He also explained that in Israel it’s more difficult to buy something as an investment property and make money from renting, like in America. For those who want to buy real estate as an investment, there are different variables and considerations. Many more people start out renting in Israel for that reason. “The conversations I am having is that regardless if you want to be in Israel in two years from now, five years from now or 10 years from now, people should start planning for that move today.”
One thing Shayowitz wants American olim to consider? Location. Many people default to only thinking that buying in Israel needs to be in the heart of Jerusalem. If your budget permits it, then by all means. “Ask people who live in Israel whether proximity to the Kotel in Jerusalem should be the guiding light, or whether there are other variables to consider. For many, we discuss buying something more practical in a different location and booking a hotel for Yom Tov near the Kotel if that is important to them. We have to prioritize what’s important and what’s not important and what makes sense financially,” he said. “That’s a very common conversation we are having with potential homebuyers in Israel and America to determine what their short-term and long-term objectives are.”
One of the most popular offerings that Shayowitz has is an annual review, which he does as a free consultation. “A lot more help has been needed since COVID because of the state of the economy, the high rate of inflation, and general unaffordability for people and businesses. I’m assisting them in making informed and innovative decisions as they navigate the changing economic environment. Most people think that if they have a very low mortgage rate there is no reason to reach out to someone like me. That is completely not the case. Just as we prioritize our physical well-being with annual checkups with our doctors, it’s important to take a moment each year to assess our financial health.”
Beyond the mortgage, conducting an annual financial review as a homeowner provides an opportunity to assess other aspects of your financial health. This includes evaluating expenses related to property taxes, insurance premiums and maintenance costs, and identifying potential areas for cost savings or efficiency improvements. Additionally, reviewing your overall budget and long-term financial goals allows you to make strategic decisions about savings, investments and retirement planning, ensuring that your home ownership aligns with your broader financial objectives. Shayowitz has one goal in mind, how to help all of his clients build wealth and maximize their real estate equity. “Everyone should have this conversation with an advisor or coach every year or so,” he explained.
In discussing the current real estate market, Shayowitz emphasized its increased difficulty compared to the post-housing crisis of 2008, mainly due to a significant decline in overall real estate activity. He highlighted the scarcity of available homes, not solely due to lack of demand from buyers or sellers but because many people are not receiving proper guidance in the new reality of the marketplace. Shayowitz particularly emphasized the importance of expert advice for both aspiring homebuyers and current homeowners. This is more prevalent of late as the Realtors Association recently settled a huge lawsuit that will have ripple effects for the future of the industry for home buyers and sellers.
He noted that now more than ever, aspiring buyers need assistance not only with basic pre-qualifications but also in crafting appealing offers to increase their chances of acceptance. In many areas, there are still significant bidding wars, so the ability to make your offer as advantageous for the seller as possible—beyond just offering the highest price—is crucial. Similarly, for current homeowners, Shayowitz underscored the value of seeking expert guidance when considering moves such as downsizing or relocating to properties with different interest rates or tax structures. While acknowledging the inherent risks in real estate transactions, Shayowitz emphasized the importance of leveraging expert advice to navigate these challenges effectively.
“Real estate is a phenomenal and safe investment. The residential real estate market will continue outperforming most other asset classes. It’s an asset that will continue to benefit you in the long term. It makes a lot more sense than people believe.” Shayowitz explained that people always have this misconception that when they move into a new property, they will have the same payment for 30 years. “On average, people are refinancing their mortgage every five to seven years. By buying today, you are locking in your purchase price at current levels, benefiting from all the upside of home appreciation, and hopefully, one’s income will only be increasing over the majority of the remaining 30 years.”
A big believer in early financial education, Shayowitz said he’s speaking in the coming weeks at different high schools, where it’s been the students, rather than teachers, who have invited him to speak. “I am very passionate about this because this is a totally underserved population. High school and college students don’t have the right framework of any type of financial literacy and the basics. In recent years, I have teamed up with many organizations for some of their programs in this area. I see the importance of providing financial education to people, at every age and every stage,” he said.
“I’m truly flattered when people approach me for any financial or real estate-related needs, even if it’s a service I don’t directly offer,” Shayowitz expressed. He emphasized his role as a trusted resource, stating, “When I can’t help with something, I take pride in connecting clients with the right professionals.” With an extensive network and highly personalized approach, Shayowitz provides custom, tailored recommendations based on each client’s specific requirements, whether they seek high-level expertise or basic assistance, and regardless of their life stage.
Learn more and get in touch with Shmuel by visiting this link: www.shmuelshayowitz.com.
