All Forum Posts by: Miguel Matos

@Travis DeForge I am glad to hear that my plan seems realistic. For now this is the route I am trying to go.

@Travis DeForge I really want to go that route. The only problem is the FHA loan requires me to be working at the same job for two years and when I return to the states my clock resets. So it would take another two years to qualify meaning 3 years from now at the earliest. If I partnered I could get the place a year earlier, stay for a year and save, then use the FHA loan to get a new place, move in there, and rent out my old unit. That's my thinking at least. I am still new to this so I am unsure how exactly this works out but this was my thinking behind it.

@Donald SaintVal

If she decided not to sell her half I wouldn't really take it seriously. I could still rent out my half if I decided to go that route and she could rent out her half.

@Caleb Heimsoth

This is something that does indeed worry me. I guess I will wait and see how things go over the next two years. Though the thought of halving the entry cost to a home and get me out of my parents place is super tempting.

So I have been living abroad and will move back to Florida in about a year from now. I plan on living with the parents for a year to save up extra. By then I should have about 30k saved. I don't want to live with my parents for more than a year so I want to get a house. I talked to my sister about the idea of buying a duplex since we would have our own separate living spaces. She is also looking for a first home within the next two years. We both agreed we would be able to cut the costs down and get a home in the nicer areas of Orlando.

My sister is a TV actress and might move to Atlanta in a few years so she said she would rent out her half if she moved. I told her I was planning on doing the same once I get more properties. I also mentioned the possibility of buying out her half a few years down the road if she moves to Atlanta.

My thinking behind this to get access to a home quicker than I normally would be able to with my own money. And while we live there, I would save up and continue buying out rental properties while keeping my living expenses somewhat on the cheaper side. When I decide to finally move out, I would rent out my unit for extra cash flow. My sister isn't looking into real estate for business purposes. She just wants a place to live so I could probably buy out her half if she moves out.

When I was in college I worked in PC repair while learning Japanese. Eventually I reached a level where I could have conversations. One day a Japanese man came in and we did the transactions in Japanese. Then another Japanese person came, and another, and another. People in niche communities talk and if you are the only one that speaks their language and can provide them something they need, they are more likely to come to you. I am just starting out in real estate so I am unsure how this applies there, but I just wanted to share my experience.

@Account Closed

I only make around $20,000 a year so saving the $10,000 is half my salary. I am not sure if I can save 15k within the year before moving back. It just doesn't seem possible for me. As for where I really want to live... well part time Japan part time Florida. I am leaving Japan due to the low salary but I do enjoy living here, however I want a home with a pool and a front and back yard to do weekend barbecues with the family. That just does not exist here. I have never seen a house with a pool nor yards, just concrete and no grass.

Sure thing sir. Thank you

@Daniel Mills I would be happy to meet in Osaka on weekends or Monday nights. I usually work until around 5pm on Monday. Is there a certain spot like a cafe that you would like to meet at?

 I am in Osaka. I really love my job and life here but I feel like I won't be able to make enough income to start a family here in the future. If you are available I would really appreciate the facetime or meetup.

As for the question earlier about japanese houses, they usually are not built to last very long due to the earthquakes and weather here. At least to my knowledge

Ok so the FHA loan will let me get a home at a 3.5%. How much of the 10k should I put down? Half or all? I was thinking about putting around $7000 down and then use the rest for emergency.

My dad owns a small company so there will not be a period where I am without a job. It will be work and save in Japan, go back to Florida, rest a week, and then start working for my dad. So I should be able to continue with my savings of roughly 10-15k a year once in the states.

Hello, I am new here.

Currently I live in Japan teaching English, however I decided to move back to Florida in about 1 year from now. I realize here that creating passive income here through real estate is pretty much impossible since you have to be a citizen to even own a house. Not to mention the houses built here only last 30 years.

Anywho my plan is to put roughly $1000 aside each month so I would have around $10,000 when I return to Florida. I don't really know what to do from there. I would like to buy a place to live in so I am considering house hacking. However on zillow there doesn't seem to be any tri-plexes in my area at the moment so maybe a duplex would work.

I literally have no clue what I am doing. During this year I plan to start reading real estate books and listen to podcasts to build knowledge. If you had the 10k how would you spend it? My goal is to build rental properties and eventually have someone watch over the properties for me.

Thank you