Despite the scary headlines all over the world, it’s usually pretty quiet here in Israel.  But occasionally, especially in the south, things can heat up. Like while I was recently teaching a real estate appraisal and taxation course at the Ashkelon Academic College, 12 km (7.5 miles) from the Gaza border… and things suddenly started escalating, with serious rocket fire and near-misses very close to the college.

I didn’t hesitate to show up for class, knowing my students – future real estate appraisers from all over southern Israel – would be there on time, eagerly waiting to hear from me.  We all kept an eye on our phones in case of a Red Alert. And when other students and faculty around us started heading home, I took my cue from my students – none of whom, it turned out, wanted to leave.

So we all got into our cars and drove 45 minutes north to my office in Tel Aviv – and then we just kept right on studying.

Why were these students so serious, and so eager to keep learning?  Well, I believe understanding the tax implications inherent in any real estate transaction is essential material for anyone who’s going to build a career in this field, even if the material isn’t always so simple.

One reason I’m sharing this with you right now is because I’m thrilled to be able to share YouTube videos of each of my lectures in this course.  What are some of the topics we covered in this six-week course for aspiring real estate appraisers?

• • Real estate associations, allocations, liquidation, and mergers

• • Purchase tax and purchase tax regulations

• • Income tax implications of real estate transactions

• • Value-added tax (VAT) for real estate transactions (More Video)

• • Real estate declarations and reporting

The material may look challenging, but fortunately, my experience teaching—along with the evident enthusiasm of the students for what most people would consider fairly dry subject matter—has given me lots of ways of bringing the lessons home and helping everyone in the room understand the tax ramifications inherent in every property, home or commercial real estate deal.

You know, they say nothing’s certain in this world except death and taxes.  To me, it’s fascinating that real estate appraisal is so crucial to keeping our society going that I never thought about canceling even for a second, even under fire.  And neither did the students.

In fact, the students might actually say the exam was scarier than the rocket fire!

Appraisal certification in Israel is legendary for its tough standards, which is why I’m pleased to say that 10 out of 17 of my students in this most recent course passed the exam.  That might not sound like much, but it’s actually 25% more than the national average. And of course, I loved hearing from each and every one as they get their exam results – those who didn’t pass this time will obviously have another chance.

Becoming a real estate appraiser is a tough path, but an essential one, since appraisal is the bedrock of every single real estate transaction, all over the world.  Strict appraisal standards are what give us the confidence to buy, sell, develop, and invest. And I have every confidence that all of these students—whose dedication to their field was literally tested under fire—will make a great contribution to the future of real estate in Israel.