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All Forum Posts by: Kenji Tominaga

Kenji Tominaga has started 9 posts and replied 28 times.

Post: Meet-up or coffee chat in NYC?

Kenji Tominaga
Posted
  • Investor
  • Brooklyn, NY
  • Posts 28
  • Votes 13
Quote from @Mohammed Rahman:

Hey @Kenji Tominaga - thanks for putting yourself out there! 

You will find it most useful to attend a couple of local real estate meetups, because that's where a lot of seasoned and new investors hang out :) 

Here's one that I host every month, usually for newer investors like yourself:
https://www.biggerpockets.com/forums/521/topics/1163449-are-...

 @Mohammed Rahman Thank you for letting me know, I will join the meetup on 18th!

Post: Meet-up or coffee chat in NYC?

Kenji Tominaga
Posted
  • Investor
  • Brooklyn, NY
  • Posts 28
  • Votes 13

Hi Pro Forum!

I'm a rookie investor from NYC who just signed up for Pro membership.

I'm looking for someone who can be a study buddy and meet-up info in NYC.

A little bit about me:

- CPA (not specialized in tax ;p), no professional advice but can help with basic accounting and finance knowledge sharing.

- Have been listening to Real Estate Rookie (almost a year) podcast and On the Market (a couple of weeks).

- Finished reading "Real Estate Rookie" book by Ashley.

- Looking for out-of-state investments, currently looking into Philly.

If anything clicks you, feel free to contact me.

Thank you!

Post: Are You A Newbie Investor? Monthly Meetup December 2023

Kenji Tominaga
Posted
  • Investor
  • Brooklyn, NY
  • Posts 28
  • Votes 13

Would love to attend January one!

Post: Financing from a property out of country

Kenji Tominaga
Posted
  • Investor
  • Brooklyn, NY
  • Posts 28
  • Votes 13
Quote from @Konstantin Ginzburg:
Quote from @Kenji Tominaga:
Quote from @Konstantin Ginzburg:

@Kenji Tominaga

To be clear: are you asking whether or not you can take capital out of this property through a HELOC to purchase properties in the United States or are you hoping to use the property itself as collateral on a loan to purchase property in the US?


Hey Konstantin, Thank you for responding to my post. Either of both can be an option to me, but my goal is to get a fund out of this property to buy a property in the US. This is a rental property and generating a cashflow, so I think there's a potential that US renders can consider it.


You may have a few options but it will not be easy. You are not likely to get a lender to use the property as collateral on another loan. Lenders typically have no interest in taking on another property when they are underwriting a loan; especially not one on foreign soil. You may attempt to ask lenders to allow you to take out a HELOC (home equity line of credit) on the property. This will be difficult to do as well since many lenders will not be interested in using a foreign property as loan collateral but you be able to find a lender that may be willing to work with you. Perhaps try local credit units in the region of the US that you want to purchase a property in. The best option I would suggest though if this is a cash flowing property is to use the property as a revenue source on a loan application; this will help lower your DTI (debt to income ratio). Residential properties in the US are typically given based on the credit worthiness of the individual as opposed to the commercial value of the property so your personal finances are being vetted during the loan process. Your DTI and personal credit score will be the two primary factors being judged when you apply for a home loan in the US.


 Thank you, this is very helpful and informative!

Post: Financing from a property out of country

Kenji Tominaga
Posted
  • Investor
  • Brooklyn, NY
  • Posts 28
  • Votes 13
Quote from @Konstantin Ginzburg:

@Kenji Tominaga

To be clear: are you asking whether or not you can take capital out of this property through a HELOC to purchase properties in the United States or are you hoping to use the property itself as collateral on a loan to purchase property in the US?


Hey Konstantin, Thank you for responding to my post. Either of both can be an option to me, but my goal is to get a fund out of this property to buy a property in the US. This is a rental property and generating a cashflow, so I think there's a potential that US renders can consider it.

Post: Financing from a property out of country

Kenji Tominaga
Posted
  • Investor
  • Brooklyn, NY
  • Posts 28
  • Votes 13

Hi everyone! I would like to ask for a piece of advice if anyone has this experience.

I have a studio room property in Tokyo Japan, free from any collateral, and I wonder if it can be an option to borrow money using this in US.

I tried to borrow money from Japanese banks to purchase properties in US, but they didn't allow me as I didn't live in Japan. Residency requirement was strict in Japan.

This would be a niche question but I appreciate any insights from the community, thank you!

Post: Looking for a out-of-state investment meet-up event in NYC area (public or private)

Kenji Tominaga
Posted
  • Investor
  • Brooklyn, NY
  • Posts 28
  • Votes 13

Thank you Basit!

Post: Looking for a out-of-state investment meet-up event in NYC area (public or private)

Kenji Tominaga
Posted
  • Investor
  • Brooklyn, NY
  • Posts 28
  • Votes 13

Hi everyone, thank you for your inspiration and love to the community here!

I'm a new investor from NYC. Currently looking to invest a multifamily in NY upstate, NJ, PA and CT area as a rental property.

Due to the high interest rate, my focus now is to look for a lower housing price to minimize interest expenses.

I would love to meet someone who has experiences or willing to be study buddy in NYC.

If anyone knows any meetup events in NYC, or willing to meet up to learn together, please hit me up!

Thank you!