All Forum Posts by: Alan Sue

Welcome to BP Ari!

Don't let living in another country stop you! I'm also in Japan, in Yokohama, and have several properties. Of course, doing it from another country is much different than doing it in country, but definitely keep learning. You can start taking steps to start already, whether it is building relationships in the area you want to invest, looking for you team, or even starting to invest while you are still here.

Thanks for the reply!

Just an update, now the receivership case looks like it will be ok, but now the buyer has filed a complaint against myself as well as the company. I'm sure many people are aware of how horrible ABC Capital and Maverick Invest are, but now I am getting caught up it as well. 

I will try to contact the lawyer you suggested @Ben Guttman, but if anyone has any suggestions or recommendations for Real Estate lawyers that do most of their work for the defendant side please let me know. 

Hi Everybody!

I know any advice given here is not legal advice, and I am looking for a lawyer.

That being said, I just got a notice that a property I previously owned is going into recievership due it to bring vacant.

I bought the property in 2017 through a turnkey company that has been mentioned a lot here, and basically they were scamming many people. Thankfully I was able to get them to buy back the property so I did not lose that much money. This was sold August 2018. Since February 2018 although there were violations for trash, vacant, etc being sent but I had no idea.

When the property was sold the deed was not transferred so I am still the owner in the eyes of Baltimore. I’m trying to talk with the housing department but I am located in Japan, which means there’s a very fine window of working hour overlap.

I am worried that I may be liable for any fines, or something like that. If anybody can recommend a good RE lawyer in Baltimore or any advice I would appreciate it!

Thanks for all the replies! I appreciate it. I'll look into the states and different wording/options that there will be.

I did give some thought to doing it through the LLC route, but will probably be getting 30yr fixed loans which I don't think can be done through the LLC?

Some background, I'm an American living in Japan, and trying to do real estate in the US from abroad. That makes for all sorts of fun beyond just the time difference. It also means each notarized signature costs about 100USD, so a typical RE closing just for notarization alone can be about 700USD. Before I ask my question, I know that whatever answers come do not count as legal advice, and I should ask a lawyer, lender, title company, before anything is finalized.

I have use Limited/Special Power of Attorney before for some real estate purchases, and I am planning to sell some properties, then 1031 them into others. 

My question is, is it possible to have a PoA that does not have a specified address on it, but is still limited and does not give too much authority to the agent? I would love to have both PoA for selling and purchasing notarized at the same time, but due it to being a 1031 transaction I would not know the address necessarily. 

Thank you for any advice!

Alan

Hi Taylor!

It's very possible! Even not military(me) it is still very doable, but a little more difficult. The biggest advantage you will likely have is the ability to use the military's services for notary, that is ironically one of the big hurdles in my opinion doing real estate in the US from Japan. 
Building a team you trust, or using a turnkey provider is a good way to get your feet in the door and gain some experience. I have gone both routes. I live in Yokohama if you ever want to grab a coffee or anything, depending where you are going to be. There are several BP'ers over Japan, and I think there was an Okinawa meetup trying to be in the works. 

Like the previous replies too, now is the time to learn and figure out which niche you want to focus on and go after.

@Teho Kim It's definitely possible! I'm in Yokohama, and if you are being sent to Yokosuka I'm down to grab a coffee sometime.

There are a variety of ways to go about real estate invest from a distance, from even doing BRRRR's(with a good team) or just going through a good turnkey provider. It all really depends on what you are comfortable with.

I've tried both routes, and personally at this stage of my life and living here(for the long term) I am leaning more towards turnkey providers, but that is just my own direction right now. That being said, doing it all yourself is definitely possible as well. 

Researching the city you choose is definitely the most important, but at the same time don't get analysis paralysis. I haven't seen any of the houses I own in person...in both good and bad experiences lol. 

I'd love to hear more about this too! My wife and I have an apartment now, but when we got it hadn't jumped into REI yet. I'd love to jump in that coffee with you guys if its possible! My experience in Japan definitely isn't there all of my REI is in the US, but always looking for another open door.

@Shu Matsuo Post I’m down for a meet up in Yokohama! I met some others before, there’s a couple more BPers in Yokohama, more in Tokyo though. I get back to Japan Oct 31st, so anytime after that, outside of Sunday’s work best for me too. But I’m glad there’s more of us in Yokohama now!

@Pranav A.

I did originally, but due to my being located in Japan, by the time we were able to talk more in depth about the whole process and learn more about them, Maverick's time limit had passed. At least for me as an out of country it was a difficult process as they push you to act quite fast(which I am beginning to regret) in order to get their deals/discounts. ABC Capital did offer a similar if much less benefits going through them, which was nice.  Maybe if I did the rushed process of going through Maverick my experience would have been better and more taken care of, but that worries me as well.