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All Forum Posts by: Miho Hatanaka

Miho Hatanaka has started 3 posts and replied 11 times.

Post: Female Investors Accountability Group

Miho HatanakaPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 11
  • Votes 12

@Andrea Weule Thank you. Yes, I've found a few but they are either too expensive or too big for me to connect. I'm an introvert and do best in a small group setting. It took a great amount of courage for me to post this on this forum.  

I am looking for a smaller group <10 people where we can genuinely connect and establish solid relationship. 

If you have any groups you recommend that fits what I'm looking for, I'm interested to check them out! 

Post: Female Investors Accountability Group

Miho HatanakaPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 11
  • Votes 12

I have been wanting to be part of a mastermind group and I thought it would be great if there is a mastermind group for female investors. I searched all over Bigger Pocket but I was not able to find one or anybody mentioning one. 

So I thought I'll ask if anybody is interested?  If so, please DM me or comment on this thread.

To make is most effective and efficient, here is a rough idea of how it's gonna run: 

  • - We will share our overall purpose and goal for REI
  • - We'll each come up with a short term goal with action steps 
  • - Will meet every other week to review our actions and keep each other accountable (over zoom)
  • - Possibly read a chapter of a book and discuss what we learned.
  • - Connect and network with fellow female investors

I am newish investor and would like to connect with fellow female investors who are starting out or have a few rental properties and looking to grow more. 

Post: Our First Property!!!

Miho HatanakaPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 11
  • Votes 12

Congrats @Jared Freye
Did you inherit the tenants?  That's awesome you got a cash flowing property! 

Post: My first deal turned out to be a business investment

Miho HatanakaPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 11
  • Votes 12

@Lien Vuong  Thank you! Yes, it has been a good learning experience. The business is small enough to manage as a beginner business owner but we have a lot of ideas and opportunities to expand. 
I do really enjoy working with others (business partner, staff, and customers) that I don't usually get from real estate so much. 

Post: My first deal turned out to be a business investment

Miho HatanakaPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 11
  • Votes 12

Thanks @Say Teoh! Hopefully, we can meet in a group soon again :) 

Post: My first deal turned out to be a business investment

Miho HatanakaPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 11
  • Votes 12

@Mike Reynolds Thank you! 
Yes, it's been fun learning about the business and improving the storefront. It's coming out pretty nicely. 

I am optimistic about the future of this business. Though personal service businesses had been hit pretty hard by COVID, I've received multiple phone calls people asking if we're open. With all the retail going online and everything is becoming more virtual, I believe personal services such as massage which cannot be done online would stay strong in the changing economy. 

Post: Where are all the female investors and real estate agents?

Miho HatanakaPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 11
  • Votes 12

I am in Portland, Oregon. Looking to get more serious about real estate investing. 
My very first investment turned out to be a business investment with seller financing -first time too!
It's been a great deal of fun and learning opportunities. 
DM me if you're interested to know more, would love to share what I learned! 
I can't wait to connect with more female investors here! 

I would love to connect with someone local from Portland, Oregon as well!

Post: My first deal turned out to be a business investment

Miho HatanakaPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 11
  • Votes 12

Investment Info:

Retail other investment in Portland.

Purchase price: $100,000
Cash invested: $10,000

My business partner and I bought a massage therapy clinic and a teahouse on 1/29/2020.
It's been established for 5 years with a strong customer base. It's cash flowing a bit but with a lot of upsides and minimal risk.
The business is on a popular street in Portland, OR. We have 6 LMT who are independent contractors and 3 front employees. My business partner is a massage therapist who is handling hiring/training LMTs. I am handling backend finances, accounting, and medical insurance billing.

What made you interested in investing in this type of deal?

I have a background in healthcare (registered dietitian) and have always been wanting to own my business.
I was talking with my friend before knowing about this business that I want to build a health and wellness center.
That night, I Googled "wellness center for sale" and this listing popped up. Without any intention of buying, I contacted the listing broker and he connected me with the seller who saw the same vision I saw.

How did you find this deal and how did you negotiate it?

On a business listing website. The seller and I had been in contact for almost 2 months before I decided to buy the business. She had other buyers with full purchase offer but she did not want to sell her business to business flippers. She appreciated that I respected her business and her employees, my healthcare background, and strong finance/accounting/business skill (thanks to Bigger Pocket and real estate investing!).

How did you finance this deal?

Came up 50/50 cash for a $10,000 downpayment with my business partner. The rest of it is owner financing, $90,000 at 5% interest rate for 6 years, plus six-month payment deferment after closing. With the COVID outbreak hitting many businesses (including ours), seller is willing to push the deferment period longer.

How did you add value to the deal?

Though space is leased, improving the space by painting, updating furniture, equipment, organizing and systematizing things in the business. I am working on to streamline the business (following E-Myth by Michael Gerber) processes, establishing standard operating protocols. Systematizing medical insurance billing, upgrading the booking software.

What was the outcome?

Not sure yet! Hopefully good. Due to COVID outbreak, we have been forced to close our store for 2.5 months. But it's a blessing in disguise, we got so many physical improvements done during this downtime and getting things organized.

Lessons learned? Challenges?

Don't be afraid to pick up the phone and call.
Also, there are always things you can do even during the historic viral outbreak. Keep pushing and moving forward.
I got a lot of stuff for the business done, otherwise, it would've taken a whole year to get to where we are now. Now I have more breathing room to focus on real estate!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Business broker (sell-side), we were unrepresented.

Post: My first deal turned out to be a business investment

Miho HatanakaPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 11
  • Votes 12

Investment Info:

Retail other investment in Portland.

Purchase price: $100,000
Cash invested: $10,000

My business partner and I bought a massage therapy clinic and a teahouse on 1/29/2020.
It's been established for 5 years with a strong customer base. It's cash flowing a bit but with a lot of upsides and minimal risk.
The business is on a popular street in Portland, OR. We have 6 LMT who are independent contractors and 3 front employees. My business partner is a massage therapist who is handling hiring/training LMTs. I am handling backend finances, accounting, and medical insurance billing.

What made you interested in investing in this type of deal?

I have a background in healthcare (registered dietitian) and have always been wanting to own my business.
I was talking with my friend before knowing about this business that I want to build a health and wellness center.
That night, I Googled "wellness center for sale" and this listing popped up. Without any intention of buying, I contacted the listing broker and he connected me with the seller who saw the same vision I saw.

How did you find this deal and how did you negotiate it?

On a business listing website. The seller and I had been in contact for almost 2 months before I decided to buy the business. She had other buyers with full purchase offer but she did not want to sell her business to business flippers. She appreciated that I respected her business and her employees, my healthcare background, and strong finance/accounting/business skill (thanks to Bigger Pocket and real estate investing!).

How did you finance this deal?

Came up 50/50 cash for a $10,000 downpayment with my business partner. The rest of it is owner financing, $90,000 at 5% interest rate for 6 years, plus six-month payment deferment after closing. With the COVID outbreak hitting many businesses (including ours), seller is willing to push the deferment period longer.

How did you add value to the deal?

Though space is leased, improving the space by painting, updating furniture, equipment, organizing and systematizing things in the business. I am working on to streamline the business (following E-Myth by Michael Gerber) processes, establishing standard operating protocols. Systematizing medical insurance billing, upgrading the booking software.

What was the outcome?

Not sure yet! Hopefully good. Due to COVID outbreak, we have been forced to close our store for 2.5 months. But it's a blessing in disguise, we got so many physical improvements done during this downtime and getting things organized.

Lessons learned? Challenges?

Don't be afraid to pick up the phone and call.
Also, there are always things you can do even during the historic viral outbreak. Keep pushing and moving forward.
I got a lot of stuff for the business done, otherwise, it would've taken a whole year to get to where we are now. Now I have more breathing room to focus on real estate!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Business broker (sell-side), we were unrepresented.

Post: Any one from japan??please

Miho HatanakaPosted
  • Real Estate Agent
  • Portland, OR
  • Posts 11
  • Votes 12

A question to all, how is/was renting places in Japan as a foreign person? How did was your interaction with the landlord? 

 I hear Japanese landlords are not friendly to a foreigner. I had several friends from U.S. having trouble finding places to live in Japan. I was reading a blog about a girl from China trying to purchase an 8 unit in Saitama and she had a hard time purchasing the property. 

It really bugs me as a Japanese native, their small island mentality.. -_-  

@Sujan Ghale @David Gotsill @Bruce Crawford