All Forum Posts by: Daniel Mills

Hi,

Thanks for the advice. I have contacted a lawyer in my area (where I invest), but I will let you know if I need a referral. 

Hi,

I am an American citizen living in Japan and recently two non-US friends have expressed an interest in buying some investments with me. Basically, I would be getting the loans and putting up some of the money and they would be putting up the rest of the cash. How can we do this? Should we set up an LLC or some other entity? Any advice on how to do this right?

Thanks

Thanks Andy.

Yes, I think this is not a pure investment question here. For my mother, who is not an investor, taking on a lot of debt, even if it is good debt", is probably not within her comfort zone. I was actually able to get her real estate agent to give me the comps and it seems that the property has increased in value by $70,000 in the last five years. So, I think we are going to sell it and purchase a property in Idaho  (where I have my other investment properties) in cash. She will live there for a year or two, and when she moves to Japan it will just becoming another property in our portfolio. Thanks for the advice guys. 

Thanks for all the suggestions guys. I have an additional question about Portland if you don't mind. My mother is thinking of selling her current house in Las Vegas and purchasing in another part of the country. One possibility is Portland because we have some friends there. However, it seems like Portland is a little out of her price range. Are there any nice areas near Portland where she could purchase a 3 bedroom 2 bath house for around $200,000?

Hi guys,

This is not directly related to investment, but it is about real estate. My mom is currently living in Las Vegas, Nevada (Summerlin). She purchased a single family home there about 4 years ago for $150,000. It seems that similar homes are selling for around $200,000 now. The issue is that she is planning to move to Japan to be close to my wife and I in two years, and we are wondering whether it is better to cash out now and maybe buy a home we could turn into a rental later (she can't rent the house house owns now because of HOA rules) or stay put. I know the market can't be predicted exactly, but does anyone have a suggestion about how they would go about making this decision? Thanks.

Thanks for the warm welcome and advice everyone. I will be in Boise between March 1st and 4th, so I hope I have a chance to go to one of the meet ups mentioned by Jonna. BTW, how do you tag someone in a post? 

Just a little more about my investments. I had been wanting to invest in real estate for about 8 years, but was a little worried about doing it at a distance. It is hard to do in Japan because while you might be able to get a property that cash flows here, structures don't appreciate. Freakonomics has a great podcast about why this is the case called "The Disposable Houses of Japan" if you are interested. Also, lenders will not give you a loan on investment property, so you have to be an all cash buyer. Therefore, my wife and I bought an older condo here which has already depreciated, but still would cash flow well if we had to move and rent it out. The reason I decided on the Boise area is simply that I had a good friend who owns a rental property there. He recommended a real estate agent/property manager named Bryan Marin and even volunteered to go to Idaho to help me find the right property. I have been able to find two great deals so far and I am really happy with the cash flow and service I am getting from my property manager. My wife and I are eager to make some more deals this year.

Thanks

Hi everyone,

My name is Daniel Mills. I live in Japan where I work as a university professor. I am just starting out. I have one and a half properties near Boise, Idaho (should close on the second in a few weeks), and I am eager to learn more. I love the podcast and I hope I can meet some great people in the forums.

Thanks,

Daniel