All Forum Posts by: Alan Sue

I sent a connection request with some of the lenders I've used!

To jump in the current convo, that is one of the first things I ask as I search for Lenders. Having that as one of the upfront questions filters out lenders pretty quickly for myself. While MOST lenders may require a notary at the Embassy, there are several out there that use online notaries. 

I just closed on a loan last year using a remote notary(and maybe 4-5 in the past years), and I have never heard of needing fingerprinting capacity, but that may have just been my experiences thus far. I've been able to use my passport, along with sending them a picture of the passport during the 'closing'. 

Hi Eric! 

Welcome to BP as another expat in Japan!

I'm also in Japan, and there several of us floating around BP. If you're ever in Yokohama let me know and we can grab coffee.

I'm a little different situation than you as I do have a W2 based in the States while I am here. That did allow me to get the normal mortgage, but there are lenders out there do the typical mortgage for international investors that would not have a W2, or even a tax return. Of course the rates/terms/down payment/etc might be different depending on that.

I have also gotten some DSCR loans as well due to the amount of loans I have, it was the only way to get more ;) DSCR are even easier to get depending on the property and its potential income. Depending on the company some allow in your name, some require a LLC. The rates are also generally higher and the LTV is more dependent on the rental income(or potential).

If you're interested DM me and I can introduce you to some of the lenders I've used in the past.

In general though, don't give up, it might take a little longer to find one that works out, but it's possible! There are also a good number that can do a remote notary, so you don't even have to get notarized at the Embassy or a lawyer. 

Welcome to BP James!

I'm an American living in Yokohama, and have been investing in RE in the US for several years. Depending where you are, there's several people that pop in and out of the BP forums, getting together for a coffee is possible. It is more than possible, and I've never even seen my properties in person! I would definitely say do your research, listen to podcasts, and figure out which direction of REI you want to get into.

Back when I started there was only the podcast, not the myriad of books that's available. Now there is even more information! I would suggest take some time to do a quick overview of what is possible, then dive deeper into what interests you. For myself, I have focused on long term buy and hold, but there are so many ways to do so many things and succeed. 

As another American living in Japan, I have to echo what David said. In general Japanese make very good tenants, and coming from living in Japan they would be used to dropping many months before renting. To rent in Japan sometimes you may pay 3-5 months rent before you even move in, and only 1 month worth is considered a security deposit that you may or may not get back. If you are able to, increasing their security deposit may be something that could benefit you quite a bit!

Wow! I have to echo the coolness sounding of your job. That sounds crazy cool haha. I would definitely say you are on the right track, there is so much to learn(and for FREE) here that you can definitely find what you need. I started off with the podcasts and connecting here and there, but now from living in Japan I have several properties that I've never seen back in the US. 

I would encourage you to take steps even before you get home, whether its just finding the team you want, or going all the way and getting a property or two. 

Oh! Being military may make it easier for you. Check with the JAG office of the base you are going to as they may be able to notarize documents for you. The office in Texas probably refuses due to the ease of getting notary in Texas most likely. You may be able to avoid a POA situation completely, give that a check too.

I do know people who have done a quick trip to Guam in some cases to do notary, and have a nice little vacation at the same time. 

I've done POA with family members who were willing to sign, or a very trust worthy friend who was also in the RE game. 

Want to chip in here too, but what David said about closing is definitely the hardest part. One of the good things that has come out of this current crisis is that a lot more Title Companies/Lenders are open to remote closings. I've done about 5 transactions during this time(I'm located in Yokohama) for Texas and Tennessee with remote closings.

I've done all the different closing styles I think there are, Embassy, US Lawyer who notarizes in Tokyo, POA, and now remote closing. I would make sure that those are possible as they simplify the most painful part of REInvesting in the US from abroad. Larger lenders are more open to remote for sure.

Depending on how your team is filled out already, it may be good to continue to have a US address to help getting loans easier.

Welcome Stephan! 

While I'm an American living in Japan, I'm not military but down in Yokohama. I just wanted to encourage you that even though I think your plan is great and has a lot of potential, don't be afraid to start now as well! I've started acquiring houses from Japan, several years ago and am up to 9 houses. Even 1031'ing some into others that worked better for me. 

I am originally from Hawaii, and the RE market there is definitely not the best for an investor who wants to rent and cashflow. Due to that I started investing in Missouri, then Memphis, and now have a couple in Texas. Some BRRRR'd, and some turnkey. Being across the ocean does mean some things are a little different/more difficult as compared to actually being in the States doing this, but as you are military the hardest one(getting a notary) is easy for you! Although, many places are now offering online notary as well, whereas when I first started they did not and I had to go to the embassy and pay 50 bucks per notarized signature. Ouch.

I would definitely say your current plan is on the right track, and I agree with the least amount down you can! As you are eventually going to be an out of state investor after you naturally PCS away from San Diego, it might be good to start looking into that and learning about it now!

Hey @Nicholas Trans!

Welcome to the world of REI! I'm actually living in Yokohama, and started investing in the US while I'm here. I can't speak from experience from the other options, but I have done some turnkey as well as working with teams while I've been here. I've had both great experiences and horrible experiences, and can echo everybody here that making sure you vet the people you work with and trust is important.

Even sometimes after you vet them it doesn't come out how they are until you have started working with them. I think a key too is to not let one single experience define REI for you. It's easy to get jaded from one transaction/experience, but of course use wisdom every chance you get.

Even through all the bad experiences, I have had more good and its definitely working. Personally I've been leaning more towards the turnkey route, as it is not the most passive, I feel like it provides a good balance between the passivity and return.

Hey Chad! I live in Yokohama since 2011, and similarly have properties in the US.

There is a meetup in Roppongi every third thursday, I think. There are several BP'ers who go there as well, and if you want to learn more about Japan Real Estate it might be a good place to check out. 
@Bill Baldwin and @David Gotsill goes from what I remember. 

I know some people have done well with real estate here, but for me it is simpler to continue in the US. Several reasons for that, but since I am employed by a US company, it is more difficult for me to get loans in Japan. The majority of my properties are turnkey, but several I have through a trusted team as well. Basically, don't let distance stop you, but definitely do your research!