All Forum Posts by: Daniel Mills

Hi @Ernesto Simoes , Yeah that would be great! As I am in Japan, I don't have a US phone, but I'll send you my email on DM. I will contact you when I get over there and hopefully, we can meet. Thanks.

I still need to meet someone between December 28th and December 31st if anyone is available. The reason is that my university has sent me there during that time and my previous meetings fell through. I would be happy to treat you for lunch or coffee if you can meet up.

Hi guys, I am a real estate investor and university professor living in Shiga, Japan. I currently own around 50 units in the US and I am now looking at buying my first investment property in Japan. I will be coming to a couple of conferences in Honolulu between January 28th and December 9th and I would love to meet up with any fellow investors or aspiring investors. If possible, it would be great if I could set up a meeting on December 29th, 30th or 31st. If you are interested, please drop me a line. 

Hi Japan People,

I am looking to start a meet-up for investors in the Kansai area of Japan (Kyoto or Osaka). Just a little background on me, I own about 50 units in the US in Idaho, Alabama and Tennessee. I would love to share my knowledge and learn from others investing locally (Japan) or in other parts of the world. Please let me know who is interested and I will start arranging a first meeting.

Thanks!

Hi guys,

I have a SFH in Fultondale on Section 8. The tenant just moved out and my PM company quoted me $5000 for the make ready with their construction company. The initial pictures I got back don't look that bad. It just seems this company charges a lot ($2000 for interior paint on a 1000 square foot house). Does anyone have a recommendation of a company in the area I could use to get this property ready for less? BTW, I'm in Japan so that's why I'm not just beating the streets looking for one :)

Since the post has got some new attention, I will update you. I did walk away from the property and received my earnest back from the turnkey company. I used my down payment to buy a bank-owned property in Huntsville, AL that needed some repairs. I was able to get it about $15,000 below market and put $5000 in. It has been rented out and doing really well. 

After that, I bought a portfolio of 19 duplexes in Huntsville with a couple of partners. This is a value-add project so we are currently working on renovating the units but are able to do all the work with cash flow from the project. So basically, things are going great!

@Bruce Crawford , thanks. I would really like to see that. Actually, I do have PR, but I haven't found it particularly helpful in getting an investment loan. I have visited a number of large and regional banks, usually with my Japanese wife, and we have just been turned away and told: "Japanese banks don't do investment loans." I know that's not true, but it seems the key is to find an agent who then introduces you to the bank. Have you had any luck with that?

My salary is just shy of the ¥10 million yen a year that they like to see too, so I think that's a sticking point. If they count my real estate income from the US it's above, but I'm not sure if it has to be all Japan-based job income.

Hi @Ahmed Elias , you might want to check out the Real Wealth Network. I think they have a turnkey company associated with them that works in the Detroit area.

Hi guys,

Sorry I have been out of it. Thanks for the input. Are you guys getting any financing on these purchases? That's my big issue. I am making much better returns in the US and with the chance of appreciation. Here in Japan, I would love to get into RE if I can get financing, but so far, no luck. It just doesn't seem worth it without it. @David Gotsill had a good post about this recently. 

Hi guys,

So about a year ago, I picked up a SFH is Birmingham, AL. It's been a good section 8 rental for me for the last year and the prices seem to have gone up in the neighborhood. The street it's on isn't very developed and I saw that a couple of the plots around it have gone up for sale. I might be interested in picking up a few of these lots to build SFHs or multi on, but I'm wondering what due diligence I should do with a land purchase.

I am assuming I need to know what it's zoned for and what I would need to do to prepare the land for a build. Anything else?

Thanks,

Daniel