Wanna buy farmland in the Ukraine? And other stories of success..

12 Replies

First of all, rest assured this is not another DDOS attack. I have no farmland in the Ukraine to offer anyone.

(But maybe I will in five years ^^ And that's the success I wanted to write about today.) 

On Saturday night, while most of the citizens of Seoul were busy drinking and dancing the night away, I happened to be talking to a 4th year university student, Drummond, from the Ukraine who was visiting Korea as part of his studies abroad.

We stood on the rooftop of the Southside Parlor, a southern-themed bar in one of the hottest nightlife spots in Seoul, exchanging information about real estate opportunities in Europe, America and Korea.

This was the site of a Happy Hour Meetup hosted by the Seoul Real Estate Investing Meetup, a group I help organize.

In another corner of the rooftop, @John Kantola ), there's a good chance our property has already appreciated 40% based on comps.

* I was able to help with the underwriting process of a $6m condo deal by showing a little hustle and proactively volunteering my services

* I've become partnered with MHP investors, again by being proactive and helping first to give value in an area I know - building systems. 

* I've met a ton of really good people through BP and through our meetup, including a fund manager that helped buy $2 billion in distressed Korean real estate during the IMP Crisis of 1997. He was kind enough to give me an hour of his time. We met and at one point, he stated the obvious: "I have no real reason to meet with you, Dan. You just struck me as a nice guy and you were bold enough to ask." 

* Learned how to launch a website - not hard but definitely time-consuming ^^ 

* And of course, helping to organize this meetup that continues to attract investors from all over who are interested in learning, networking, and empowering themselves with knowledge and contacts.

Part of the reason I write these posts is that my path into real estate investing has been 'non-conventional' and maybe it can help others looking for a way to start out.

I couldn't do the traditional driving for dollars as I'm an ocean away. I couldn't build my team easily through face to face meetings, so I've relied heavily on the internet. And there was no local REIA to get involved with - so we had to create our own out here in Seoul.

Along the way, I've learned that if you're really focused and willing to put in the effort, you can make tremendous progress by delivering value to others.

The greatest words I can hear from a potential contact are "I was wondering if I could get your help on..." My answer is always YES. And then I've tried to overdeliver and that usually has led to opportunities.

So to newbies out there I'd encourage everyone to view real estate as a business opportunity you'd like to get involved with. Approach all your contacts as people who can 'potentially hire you' (Hire = invest with you, partner with you, or allow you to invest with them, to name a few) and ask questions and look for ways to deliver value.

All my networks have been abroad, so you don't have to necessarily go to their office and lick envelopes. There are lots of ways to deliver value in this connected global village we now live in. As an example, take a Udemy course on web development - cost: $15. Then when you reach out to people, you can mention that you'd be happy to help do some work on their website if they need it. Now you have a potential opening to delve into a deeper relationship and more opportunities.

There's lots of creative ways to get into the real estate game that don't involve wholesaling or driving for dollars. If those avenues aren't open, you can find another way. I know because I did.

And keep in mind that nothing happens overnight. It might take a while but with continued perseverance, opportunities will come available. And maybe you'll find yourself on a rooftop someday talking about the opportunity that exists in Ukrainian farmland.

That's all for this post. If anyone has any questions about our group or how I helped to grow it to its current size, feel free to comment or message me. I'm always happy to help!

And now for a pic. 

The first of our group members arrive. I would have taken more pictures except it's hard to remember to do that when you're drinking beers ^^

Pic didn't load last time.

And I forgot to add:

Thanks to all our meetup members who are also BP members:

@Sandra Roddy, @Dustin Karns, @Paul Wurster, @Jacob Michaels, @Katie Kim,@William Strong, @Natalie Heo, @Dominic Jones, @James Wise,

@John Kantola, @Robert E. Medlock II, @Richard Harrington, @Josh McNicoll

Here are a few of the places in the US our members are currently investing in:

Jacksonville, Florida; Illinois; Kansas City; Indianapolis; Las Vegas; Nebraska; California; Yuma, Arizona; Seattle, Washington; Memphis

In Korea

Busan, Sokcho, Seoul, Gangnam, Samsung

Worldwide

Hong Kong; Ireland; Taiwan; Myanmar; Phillippines

Originally posted by @Kevin M. Rooney :

Indianapolis is a great market! Has been very good to us and our clients.

One of our members was looking into Indianapolis. I'll be sure to mention you to him if he's still looking pursue that market!

Thanks for commenting and reaching out.

Originally posted by @Malissa Strong :

Dan:

Thank you for the words of encouragement and sharing your path.

M

Thanks for your comments. I'm always encouraged when I'm able to encourage others. Hmmmm... That's a lot of encourage in one sentence ^^

I'm not sure your experience level but Ive heard other investors dismiss newbies for their lack of knowledge. I have to defend newbies because I know firsthand that lack of knowledge can always be overcome. I had no idea what I was doing in the beginning and I continue to learn each day. With resources like BP and our meetup though, knowledge is easily accessible. 

With a little grit and guidance, there's a ton that can be accomplished.

Originally posted by @Daniel Ryu :

Pic didn't load last time.

And I forgot to add:

Thanks to all our meetup members who are also BP members:

@Sandra Roddy, @Dustin Karns, @Paul Wurster, @Jacob Michaels, @Katie Kim,@William Strong, @Natalie Heo, @Dominic Jones, @James Wise,

@John Kantola, @Robert E. Medlock II, @Richard Harrington, @Josh McNicoll

Here are a few of the places in the US our members are currently investing in:

Jacksonville, Florida; Illinois; Kansas City; Indianapolis; Las Vegas; Nebraska; California; Yuma, Arizona; Seattle, Washington; Memphis

In Korea

Busan, Sokcho, Seoul, Gangnam, Samsung

Worldwide

Hong Kong; Ireland; Taiwan; Myanmar; Phillippines

I bet John still missed El Camino hahah :)

and still supporting this fisherman hat lol

Gotta love

@Engelo Rumora

He said he had a great time with you ^^ You're apparently a great host!

@Mike J.

I think it's definitely possible. But one thing I was really careful about was limiting my downside risk as well as thinking through the investment from many different types of opportunities. I knew that even if the investment failed, I would be able to capitalize on the experience in a lot of different ways, so that again helped mitigate risk.

Reach out anytime if you want talk about it further.

Best of luck with everything and thanks for commenting!

Originally posted by @Daniel Ryu :

@Engelo Rumora

He said he had a great time with you ^^ You're apparently a great host!

@Mike J.

I think it's definitely possible. But one thing I was really careful about was limiting my downside risk as well as thinking through the investment from many different types of opportunities. I knew that even if the investment failed, I would be able to capitalize on the experience in a lot of different ways, so that again helped mitigate risk.

Reach out anytime if you want talk about it further.

Best of luck with everything and thanks for commenting!

haha

It was fun.

John is a top dude :)

Very nice post and thanks for sharing @Daniel Ryu

I'm very interested in investing abroad so much so that I came to Kiev to buy distressed property here (!). I can tell you that it's tricky to buy agricultural land but if you're interested PM me and we can have a chat. 

Like you I'm trying to diversify into different RE and other investment avenues and so far so good but I never know where my next great investment will come from!

@John C.

Kiev? That's a long way to travel for due diligence! ^^

That's really cool and I'd like to hear more about your travels and investing opportunities that you found.

I'm really focused on MHPs (Mobile home parks) at the moment, so I'm not looking at other investments other than to learn and increase my knowledge of international real estate investing. But at our meetup and on our webpage through our forums, we want to encourage people to think beyond their borders (if it makes sense for them) and invest where the best opportunities lie.

With a strong dollar, I'm sure there are a lot of interesting places to invest if you can assemble the right teams.

Thanks for reading and taking the time to comment.

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