All Forum Posts by: Bruce Crawford

Hey @David Gotsill - good to hear from you. Lots going on over here. . . . had one of my PM's go bankrupt on me with no warning. Lost 1 1/2 mo rent while I scrambled to get a new PM. Luckily I already dumped them for my Yokohama place so the loss is only on one (but they f'd up the other bad enough to cause me to dump them and work on filling that one). Let us know if you come back to visit - we'll have a special meetup ie beers ;-)

Thanks for the news on Seibu Shinkin - I have been so busy with work that I haven't followed it. Your suggestion is exactly where I am in my thinking - invest in both! I will PM you once about Chiba and Yokohama banks for the refi or contacts for a future purchase. 

Also hoping someone can chime in on how a non-US spouse can keep / manage properties in the US after the US owner dies. 

Hope SF is treating you well. All the best. 

Bruce

@Alina Trigub Thanks. I think I can do better in the US but getting my money back to Japan is my current thoughts and also how to ensure my wife gets the properties when I die (she's not a US citizen and doesn't have a SSN). Already investing in Japan and will probably continue to do so and add some US properties and figure out the death stuff later (sounds morbid, huh? hahaha)

@Kiley N. Thanks Kiley. I am already quite active with the local BP meetups and pass along the details to as many people as possible :-)  I just got PR last year - it took a full year with lots of submissions of additional documents. I will refi 2 buildings that I bought prior to PR at a higher rate, then consider more here and back in the states. Even without PR I was able to secure 3.5% financing which is pretty high for here, but the cashflow worked. Now with PR, I am hoping to get these below 2%. 

Although I think I have already decided on my actions, I wanted to reach out and get some comments from other BPers. I have been living in Japan for 11 years and recently married. I do not see myself returning to the US, although I am not planning on giving up my citizenship.  I used to own long distance when I lived in the US but sold them all for personal reasons when I moved to Japan (bad mistake, but lessons learned and personal situation required that). 

Should I return to buying in the US or continue buying in Japan (looking to pick up another apartment building within a year)?  Since I won’t be returning, getting the cash out of the US and back to me in Japan when needed is one concern. Since I keep all real estate (and associated credit cards) in a separate account, I do not want to use a credit card to pay for trips etc.  
I already file taxes in Japan and the US, and can get through the taxation on different properties and different depreciation schedules, but wondering if people have any thoughts on the best path forward.  

Appreciate everyone’s thoughts. 

@Jay Hinrichs - Be sure to check the location of the AirBnB if you do that in Tokyo. Laws have changed and most are illegal. Several people are registering but with the fees and hassle, I heard most are hoping not to get caught. Depending on how long you are staying, monthly rentals are still legal and there are a few companies who list them. If it's just for a week or so, a hotel may be better unless you find a really nice AirBnB with lots of good reviews. You can ask them if they've registered their property as well. 

In general, some towns made minpaku (AirBnB style) completely illegal. In other areas (Shinjuku, Nerima, Bunkyo, Yokohama for example) it is legal only on weekends and holidays. Apartments can only be rented out for a maximum of 180 days/ year (or that's the last number I heard) with heavy fines for violating. 

Good luck and enjoy Tokyo! We have a BP meetup every 3rd Thurs of the month if you happen to be in town for this and want to join in June.

Hi Shu - 

See my PM about the BP meet up. Sorry I won’t be there this month but there are some that have investments in the area. Would love to chat about your possible house hack. Maybe over a coffee sometime when we are both free. I can also share with you the good, bad and ugly of what I’ve experienced with buildings in Yokohama and Chiba as well as single units in various areas. 

See you at the next one or over coffee!
Bruce

@Shu Matsuo Post - welcome to BP. As David mentioned, every 3rd Thursday (this week!) there is a BP meetup in Roppongi at the BrewDog Pub. Like David, I have met a few people that have helped me out a lot in Japan and connections in the US. Look forward to seeing you there some time. 

Bruce

@Bertram Martin - Also in Japan (Tokyo though but we are close) and would be happy to sit and review numbers with you if you want. Getting other BPers' thoughts is also good. 

Let me know if you get to Tokyo. 

Bruce

@Daniel Mills - if you do not have PR, the only bank I’ve found that will loan to me (apart from Suruga) is Prestia. Prestia is pretty strict with their loan criteria and won’t finance a building - only single apartments. They also seem to be only in Kanto for the loan program. Their rates are dependent upon your salary. The buildings must be a bit older and apartment greater than 15 sq-m.   

Happy to repost all the details I have from them if anyone is interested - or just PM me. 

I prefer Fukuoka over Nagoya (just a personal preference) but you may find better yields in Nagoya. There is a guy focusing on Osaka. He sends out his latest apartments every few days on a LinkedIn group. Look for Japanese Investment Properties on LinkedIn. Kevin is the owner. Nice guy. NTI is also good to work with. (http://nippontradings.com/ - for those interested)

If you do not read kanji, look for 散歩XX分 to be under 10 - this is the number of minutes walking to the station. In some areas, 15 min may be acceptable but most want this under a 10 min walk. 

Good luck!