All Forum Posts by: Daniel Mills

Hi, I'm not scared of Heather personally. I have to second @Steven E. Quasha that the best resource for them will be Ben Shearon and the Retire Japan blog. He even does personal consults. 

Daniel

Hi John, As John Rankin pointed out, I have been living in Japan for 14 years and own about 50 units directly in the States. I was on the BP Money Podcast recently and that will probably give you some things to think about. The key here is finding a team. I like to start with a property manager rather than a realtor as David Green suggests in his book. I find that they are much more objective. I have also found good success teaming up with locals. One opportunity that we have right now is that many local real estate meetups are online. So, you can make connections even while living in Japan. Finally, consider passive investing in syndications and funds. That is one great way to get into real estate investing without some of the hassles of active ownership. 

If you're interested in investing in Japan, I would recommend Ziv Nakajima-Magen's podcast about Japanese real estate.

Daniel

@Jerry Padilla, yes I do. 

Hi guys,

I’m looking to engage the hive mind regarding my personal portfolio. I have a business portfolio of about 50+ multifamily units, but I’m trying to optimize my SFHs that are owned in my personal name.

I am a US citizen, but I live and work in Japan (I'm a permanent resident), so I do have to consider Japanese taxes. Because of that I cannot transfer the properties to an LLC or sell them because these options would have a negative effect on my Japanese taxes.

But I can refinance them (rate and term or cash out), I can get a HELOC and I can pay off the mortgages (this would free up Fannie/Freddie loan slots). What would you do? Please click on the link below for loan info.

Portfolio

I appreciate your suggestions. Thanks in advance.

Daniel

@Jeff P., I never ended up buying a turnkey property there but now have over 50 units in Huntsville. I would be happy to share info about the area and my contacts.

Daniel

@Frankie Woods, so how often do you sign up for new cards? In my case, if I pay my mortgages with a card, I could probably meet most minimum spends in a month, but signing up for a new card every three weeks will probably effect my credit. Do you just sign up for three at the same time so you only get one credit pull and then do that every three months?

@Sean McCluskey, that’s a good point. I wouldn’t want to sign up for a card and then not be able to use it to pay the mortgages.

@Chris Greiner and @Eddy Udry thanks for your response. I'll keep those companies in mind and I will message you privately Eddy. I would love to hear your ideas and maybe we can meet up next time I'm in town. 

Daniel

Hi guys,

So, I pay around $5000 a month in mortgage payments for my SFH rentals. I was thinking that I could basically meet the minimum spend for sign up bonuses on cards if I use a company like Plastiq that allows you to pay for services, like rent and mortgages, with your credit card. They charge a 2% fee, but the sign-up bonus will most likely be greater than that. Has anyone done this? Any tips?

Daniel

Plastiq

Hi everyone,

I’m usually a long-term buy and hold single-/multi-family investor. However, my mom, who lives in Meridian, ID, is getting older and my wife and I are thinking of buying a second home in the area. Being an investor I would prefer if we could rent it out on a daily, weekly or monthly basis when we’re not using it (we only need it 3 months a year but might move permanent in the future). Does anyone have a recommendation for a property manager in the area that could do nightly rentals or maybe someone who could target groups like traveling nurses, business people on short term contracts or families waiting for their home to be built? Thanks.

Hi @Miguel Salaverria, I'm not 100% sure on that since I hold all of my SFHs in my name. I live in Japan and there are some great tax deductions for holding in your personal name. Of course, all my commercial properties are in an LLC but the rates and terms are different on multifamily. I would recommend you contact Ridge Lending to find out about their loan products for LLC acquisitions.

Daniel