Investor from Singapore/Indonesia

Singapore is actually just a city-state and I live close to down town, but originally from the Netherlands as I mentioned (and just moved to Singapore from the US).

Nice to meet you guys. If you ever have any questions about investing in this part of the world, be sure to let me know!

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Dave VisayaPro Member

Moderator

Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes

11y

Hey @Tim Uittenbroek thanks for introducing yourself! It's great to have you!

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Tim Uittenbroek

OP

Rental Property Investor · Cary, NC · Member since 2014 · 18 posts · 9 votes

11y

Thanks @Dave Visaya !

I see your based in the Philippines. How's the real estate market there? Any restrictions on foreign ownership?

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Melissa Oostendorp

Muntinlupa, Metro Manila · Member since 2014 · 3 posts · 0 votes

11y

Hi Tim!

Welcome to Biggerpockets! I am new here as well. It is interesting to hear about your story. My Dutch husband and I moved from Amsterdam to the Manila in Dec. 2008. My husband ventured into IT outsourcing and I (Filipino-American born in the Philippines) here eventually became a Real Estate Professional. We invested in land in Alabang two years ago and are happy to see property values increasing considerably in the past year.

Hope to connect with you here. We've got lots of stories to share with you about our experience here in the Philippines. And by the way, yes, there are restrictions on owning land here (owning land not that simple unfortunately but possible)-- but properties with condominium titles are available for foreigners to own. It's not only only high rises but there are also house and lots that have condominium titles.

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Tim Uittenbroek

OP

Rental Property Investor · Cary, NC · Member since 2014 · 18 posts · 9 votes

11y

Hi @Melissa Oostendorp ,

Thanks for the warm welcome. It's the same in Indonesia, but you can buy through a nominee. It always remains a little risky though - more so than if you had the title yourself.

Are you thinking of developing the land in Alabang or just holding onto it?

There is currently talk of opening up the market in Indonesia to foreign ownership as well (although whether that will actually happen or not is anybody's guess). If it happens, it should have a positive impact on prices, but that is just speculation. I prefer to focus on the cash flow side of things.

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Fernando Pizarro

Redwood City, CA · Member since 2014 · 1 post · 0 votes

11y

Originally posted by @Tim Uittenbroek:

Thanks @Brett Synicky - I will check it out.

Any other folks on here from the Asia or anyone that has any investments in the region?

Hi Tim -

I lived for several years in Singapore and have been investing in the US for the past 5 years. I actually got my start flipping a studio in Mohamed Sultan! But now I would never take that kind of risk. If you are excited about cash flow investing then the States is the place to be in the world right now.

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Tim Uittenbroek

OP

Rental Property Investor · Cary, NC · Member since 2014 · 18 posts · 9 votes

11y

@Fernando Pizarro , I agree that real estate prices are out of control in Singapore - especially these days. It might have been better in the past. From a cash flow standpoint it's potentially one of the worst investments you can make here. How long ago did you flip that studio?

The States is definitely the place to be from a cash flow point of view.

There are still deals to be had in neighboring countries here in Asia though. You just have to do a bit of extra work to find them. The fact that there are restrictions on foreign ownership and that there's is lack of transparency creates a risk, but it can also mean that there is an opportunity if you can find a way around these difficulties. It's more about building properties from the ground up here rather than rehabbing/renovating and renting out.

Like I mentioned, I lived in the US for around 3 years before moving here. Unfortunately I didn't buy any properties at the time since I knew I wouldn't be there for the long-term. I may come back at some point.

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Melissa Oostendorp

Muntinlupa, Metro Manila · Member since 2014 · 3 posts · 0 votes

11y

@Tim Uittenbroek, the land we have now, it will just be for our own use, to eventually build a house. But still you never know what we will decide later. We live in an area with a high concentration of residential gated villages, great for rental income also, and there are many doing build and sell or rehabbing and flipping/renting out houses. Too bad we're were not here early on in the game but I can see that it is certainly is not yet that late.

Here's an article I just read today:

http://www.abs-cbnnews.com/business/12/15/14/prope...

I am also interested in US Real Estate market, I used to live in the East Coast (Philly area).

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Engelo RumoraBusiness Member

Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes

11y

Originally posted by @Tim Uittenbroek:

Hi all,

Thought it was about time I officially introduced myself. Been lurking the forums for a while, but the time has come to break the ice and take the plunge. Seems like a good place here with lots of like-minded folks and a good place to learn. Definitely somewhere I wouldn't mind getting to know some of you guys.

Just a bit of background on myself. I'm originally Dutch but have lived abroad most of my life in all parts of the world. Currently in a corporate role which I'm enjoying in Singapore but always had the entrepreneurial drive to do some things on the side. Running a small business out of Indonesia at the moment where I'm exporting furniture to Europe, and recently also invested in a plot of land there which I'm hoping to develop and sell once completed. I think there is further opportunity in Indonesia and I'm looking for further investments there so we will see how that goes.

Lived in the US (Cincinnati, OH, Tampa, FL & Beloit, WI) for around 3 years prior to moving to Asia (about 10 months ago) but unfortunately never picked up any properties there at that time. Kicking myself for that now since the US is definitely a market where there are deals to be had -- more so than any market that I have seen so far. Who knows, maybe I'll have to chance to do it from abroad at some point.

Anyway, that's about it for now I'd say. Eager to start meeting some of you guys. Cheers.

Great to have you on Bigger Pockets Tim,

I am yet to give you a call.

Even tho I am in the office by 7am, I get stuck on emails and by the time I am ready to call its prob 9pm your time lol

Thanks and have a great day.

Podcast Guest on Show #89

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Anjana Vakil

Saarbrücken, Germany · Member since 2014 · 19 posts · 11 votes

11y

Hi @Tim Uittenbroek !

Nice to see people outside the US here :) I'm a newbie too - American, currently living in Germany, and before that in Hanoi, Vietnam.

I'm looking at the US at the moment, but in the long term I'd love to take a closer look at SE Asia. Best of luck with your investments in Indonesia, let us know how it goes!

Out of curiosity do you also have investments back home in the Netherlands, or thoughts on the market there?

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Jason Tham

Madison, WI · Member since 2014 · 9 posts · 3 votes

11y

@Tim Uittenbroek - I live in Singapore too! I live right by the Redhill MRT. I've been investing in Wisconsin for 4 years now. I travel to the Netherlands frequently for work. Let's get together sometime for coffee or a beer. I'm also jealous that you got a forum post from @Brandon Turner - I dream of a reply from him someday.

@Dawn Anastasi - More folks from Singapore!

For everyone else in the forum, Singapore real estate is crazy (and that goes for a lot of SE Asia, actually, since there are so many wealthy investors from China and other developing countries). For $2,000,000 USD, you can buy an apartment that rents for $5500 USD/mo (a GRM of 30!). Yet people still do it, and I can't figure out why...

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Tim Uittenbroek

OP

Rental Property Investor · Cary, NC · Member since 2014 · 18 posts · 9 votes

11y

@Engelo Rumora Thanks for the welcome. No worries mate, the time difference can be a killer sometimes. Let me know when works for you in the mornings and I'll give you a call in the evening from here.

@Anjana Vakil Wow, you've been quite a few places. How did you like Vietnam? Great place. I heard they have opened up the market somewhat as well.

In terms of real estate in the Netherlands, I haven't stayed on top of that one to be honest with you. I don't have any property there and have been gone for nearly 7 years at this stage!

@Jason Tham Nice! You don't live in Ascentia Sky by any chance do you? Since that's where I live. Seems like we might be neighbors. We should definitely catch up for a beer. I'll PM you my details. Curious to hear how your managing your investments from half way across the world.

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Jason Tham

Madison, WI · Member since 2014 · 9 posts · 3 votes

11y

@Tim Uittenbroek - I live at the Metropolitan next door. I'd be happy to share my insights on property management with you. See you soon!

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Isabelle W.

Las Vegas, NV · Member since 2014 · 25 posts · 5 votes

11y

Hi everybody

Glad to meet other international investors like you. I love the USA and South East Asia and definitely there are some pros and cons in those markets.

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Maarten Stevens

Real Estate Professional · Currently Abroad, Currently Abroad · Member since 2014 · 12 posts · 4 votes

11y

@Tim Uittenbroek

I'm from Netherlands as well, currently living in Brunei. At the moment about to invest in my first rental property in The Hague.

I realize that US is arguably the best market for investing in rental property, however, how would you do so not being present locally? Living in SE Asia and investing in The Netherlands is daunting enough, even if it is my native country.

1 Reply

Engelo RumoraBusiness Member

Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes

11y

Originally posted by @Tim Uittenbroek:

@Engelo Rumora Thanks for the welcome. No worries mate, the time difference can be a killer sometimes. Let me know when works for you in the mornings and I'll give you a call in the evening from here.

@Anjana Vakil Wow, you've been quite a few places. How did you like Vietnam? Great place. I heard they have opened up the market somewhat as well.

In terms of real estate in the Netherlands, I haven't stayed on top of that one to be honest with you. I don't have any property there and have been gone for nearly 7 years at this stage!

@Jason Tham Nice! You don't live in Ascentia Sky by any chance do you? Since that's where I live. Seems like we might be neighbors. We should definitely catch up for a beer. I'll PM you my details. Curious to hear how your managing your investments from half way across the world.

Thanks mate :)

I am in the office most morning at around 6:45am.

I am quite free for 1-2 hrs from then onwards.

So feel free to give me a call.

Alternatively we could do a Skype. My add is engelo.rumora

Thanks

Podcast Guest on Show #89

Oz Realty4.5367 Reviews

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0 Reply

Tim Uittenbroek

OP

Rental Property Investor · Cary, NC · Member since 2014 · 18 posts · 9 votes

11y

@Maarten Stevens Good stuff. What are the numbers like in the Netherlands these days? I haven't been back myself for over 5 years at this stage.

I don't invest in the US at the moment but may do so in the future. At the end of the day it comes down to having a good partner on the ground that you can trust, but I agree it's always easier to invest somewhere if you're present locally.

@Engelo Rumora Sounds good mate. I'll give you a call next week. On the road at the moment.

1 Reply

Engelo RumoraBusiness Member

Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes

11y

Originally posted by @Tim Uittenbroek:

@Maarten Stevens Good stuff. What are the numbers like in the Netherlands these days? I haven't been back myself for over 5 years at this stage.

I don't invest in the US at the moment but may do so in the future. At the end of the day it comes down to having a good partner on the ground that you can trust, but I agree it's always easier to invest somewhere if you're present locally.

@Engelo Rumora Sounds good mate. I'll give you a call next week. On the road at the moment.

No prob,

Looking forward to it.

Thanks

Podcast Guest on Show #89

Oz Realty4.5367 Reviews

Website View Page

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Anjana Vakil

Saarbrücken, Germany · Member since 2014 · 19 posts · 11 votes

11y

Originally posted by @Tim Uittenbroek:

@Anjana Vakil Wow, you've been quite a few places. How did you like Vietnam? Great place. I heard they have opened up the market somewhat as well.

Yeah Vietnam is wonderful! Personally I found Hanoi a bit too hectic, and from what I hear it has only gotten more so in the few years since I left - so much growth, so fast - and the city is bursting at the seams. If I ever went back it would probably be to HCMC instead: so much more to do and much better weather! No idea what it's like to own property in VN as a foreigner, but I'd guess that for a small-time investor it's more hassle than it's worth.

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Anjana Vakil

Saarbrücken, Germany · Member since 2014 · 19 posts · 11 votes

11y

@Tim Uittenbroek @Maarten Stevens @Jason Tham and anyone else on this thread with experience investing in a different country than where you live: I for one would love to hear your experiences with overseas investing! How often do you find you need to physically go to the area(s) where you invest? Assuming it's not very often, how do you manage to keep your local network current from abroad?

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Jason Tham

Madison, WI · Member since 2014 · 9 posts · 3 votes

11y

@Anjana Vakil I am from the US, and my real estate contacts are still there on the ground even though I am in Singapore. I set up time to visually see a property before I move on it. - it gives me peace of mind. That said, it's not necessary if you have good partners. My last deal was totally set up by my partner - it was serendipitous that I had a work trip back to the US before we moved on it, so I was able to see it for myself, but I wasn't there for any of the negotiations, closing, or property management setup.

My advice would be that if you want to invest in real estate in the US (and hold the hard real estate assets), make it a point to take a trip there (to an area you want to invest in), meet with some realtors, property managers, and real estate investors to build a contact base. Meeting a team in person is better than finding them online, in my opinion. Then try to check out a few neighborhoods / properties to find one that is worth investing in (try to set up at least 10-20 showings over a couple days in a few different neighborhoods).

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Investor from Singapore/Indonesia

Investor from Singapore/Indonesia

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