All Forum Posts by: Dominic Jones

@Alvin P.

 & @Thomas Youngman, so from what I'm hearing from the both of you Singapore is not a good place to start your investing due to high costs and low returns?

All of this makes perfect sense the way you explained it and the the way you added additional details; however, there is still one major thing being left out...

In this real-world example, the owner spent the key money deposit on the actual purchase of the building; therefore, I'm left wondering how exactly will he be able to return the key money deposit at the end of the two year contract? Does he plan on selling the building at market value (50,000,000 KRW) at the end of the contract to return the tenants key money and make the 13mill KRW profit?

Or is he going to do something different to 1. repay the tenant the key money and 2. keep ownership of the property

Hi @Sam B.

 & @Thomas Youngman, I'm looking to move overseas to some part of Asia in 2016. I'm keeping tabs on the pulse of the meetups and groups that are in different countries to help me make my decision on where I want to go, in relation to the jobs available to Teach English.

What are your strategies? Have either one of you invested in Singapore or only have a portfolio based in the US?

Hi Barrington!

Are you saying you have a huge land portfolio but no body to invest in helping create multi-family housing on your land?

Would love to come but I'm working that day. Maybe next month!

This is very interesting. Going to follow the topic to keep up with any new developments in this conversation.

 I'm not sure if he sold it or not. I backed out of it. 

 I will e-mail him and see if he can give me specifics. He is Indian and I must say that it is difficult to comprehend him over the phone. Not as much of a task in person; however, he writes clear in English.

My mentor and other investors at the REIA stated that it is an issue with the title that requires the rest of the man's family to sign off I guess so the title can become "clean". The original owner died and I suppose the family members can keep the house or take it back into their possession at any point in time. I'll see what I can do to get more information.

Thanks a lot Steve, I greatly appreciate the kind words. Yes. I have learned a lot so far and that's why I much rather jump in head first or "ignorance on fire" and learn hands on rather than try and be an internet hero, and still end up learning through the hard knocks 2/3 years down the road.

The seller has called me and we agreed to terminate the contract. I sent him a follow-up e-mail to put it in writing. I was able to keep the bridge open though because he has properties coming through the auction pipeline and I told him I would still like to get those deals under contract as long as they don't have any extenuating circumstances such as this one. He still offered me $1,000 referral fee for this property if someone I send his way closes on the property.

Again, I greatly appreciate it!

 :) I'm on the other side of the states. Small town in PA.