All Forum Posts by: Matthew Pinkston

Thanks @Emmett R. McCarthy! And you're right. I can see it definitely does have value. My problem was only with how it was presented to me at that seminar.. actually, now that I recall, they didn't even explicitly introduce what they were describing as an Illinois land trust; I had to research that for myself. Well, I guess there's a bit of a silver lining there after all;)

@Account Closed That made me smile. Now, there's initiative!!

@Erica Nagle I'm rather thankful you stared this thread. I too fell into one of those Guru training camps to the amount of $10k.. That's the first I've admitted it to anyone, and it's a bit of a weight off to finally say something about it. 

I already owned my four properties at the time, and wanted to know how to move forward to the next step. But all I got was their canned content and nothing that could help me specifically. Oh, I learned all about the "magical Illinois land trust asset protection technique", but no mention that it's unprecedented in Iowa, and wouldn't hold up.. or that it's totally overkill for someone like me where a simple LLC will do. (I don't want to say they were being malicious, or telling outright lies - they weren't.. But it's not worth a fraction of the price.)

Just browsing this forum for a few days has already given me more info that I can actually use than a hundred of those seminars. I'll happily join your crusade and politely inform those considering it that it's just not worth it.

@Account Closed Wow!! It sounds like you know exactly where I'm coming from! 
I may have committed a no-no by linking to the event (since it was removed), but it was indeed Pacific Asset Management. It seems you're leagues ahead of me here. I would love to discuss more if that's all right! In exchange, I can offer anything you'd like to know about the real estate situation Ames, IA.. or perhaps, at the very least, nomihoudai wherever you'd like to hang out:)

@Adam Moehn Thanks! It's great to see there's investors from CR here! 

@Jeff Sprunger Great! I look forward to seeing you there!

@Dan Baker You're definitely right that there's quite a barrier to entry for foreigners. It's hard to get a credit card let alone any type of mortgage without permanent residency status at least. That being said, one of my co-workers, who happens to be from Taiwan, has been looking into investing and introduced me to the existence of international lenders who don't have such restrictions (though they're tougher in other respects). And location is, as you say, something to be careful about. We've actually been looking at condoed out 1R/1K mansions within the 23 wards due to the more stable valuations and rentability.

Of course, I still have a mountain of other considerations before I decide to make any moves, and am definitely most focused on the US right now, but that chunk of my paycheck sacrificed to the foreign-exchange gods begs me to keep sniffing around;)

Coincidentally, I'm hoping to attend an investment seminar directed towards foreigners tomorrow evening in Roppongi
Maybe that will present some more ideas. 

@Dennis Tierney hello, and thanks! It's certainly a start, but I'd love to get to the 24-plex level myself someday! 

I'd say you're right about the cap rates right now. Most of the available properties I'm aware of are priced a little high. 

As for where, all my current properties are in Ames, but I've been looking in Ankeny, Des Moines, and Cedar Rapids (my hometown) as well at this point. Ames has treated me really well due to a strong local economy and the great business relationships I've built there. But I'd really like to take the next step and start expanding my search. Since I've already got 4 mortgages, I need to learn more about financing options as well. Fortunately, I've got great credit and some decent equity building up, so it looks like there's options. I really look forward to learning more with everyone here!

@James Wise Another good question. I had to look around a bit for info on that one.

Although I haven't yet found a definitive legal reference for this matter, it seems that the eviction procedure generally favors the tenant in cases of late/non-payment of rent. The tenant could be as delinquent as 4-6 months before the landlord has much of an option to start the process. Things are different if the tenant poses an eminent threat to the safety of neighbors or the property however.

Here's an interesting article I came across that touches on this as well as eminent domain laws in Japan:
http://www.japantoday.com/category/opinions/view/e...

Hello all! And thank you, @Dan Baker for pointing me to this thread!

I'm a part-time investor from Iowa who's made my way to Tokyo as a programmer. I actually live in Hakuraku (just a couple stops from Yokohama) and would be very interested in joining if there's room for one more! 

@James Wise Thanks! I'm getting a really good vibe from this site right off the bat!

And that's a good question! I've only begun to explore the possibilities of investing in Tokyo, but even as a renter, I've already learned a few interesting things. 

- Contracts can be voluntarily exited at any time without penalty. There's no need for subleasing. But to make up for this, move-in costs can be quite a bit higher with deposits often being two or more months' worth, and "gratitude money" ranging from one to three ( or possibly more) months' worth. 

- Property management companies are everywhere. There's so many of them and they're so competitive, that their rates are generally half that of US based PMs (~4% gross rent).  But services are comparable to their US counterparts.. I haven't figured out how they do it yet. I think I'm missing something.

- Fair housing laws aren't what they are in the US. A potential tenant can be turned down for just about any reason. This can make apartment hunting a bit more of a challenge for foreigners. But some companies cater specifically to foreigners (like AghartA http://agharta-japan.biz/) which makes it much easier to find a place.

There's quite a bit more I've learned, but so much more I'm missing. My next rental will likely be somewhere in Iowa, but I'm going to keep studying and hopefully eventually be able to get a rental here someday. From what I know so far, Tokyo apartments can produce very attractive cash flows (in exchange for negligible appreciation). I'll keep researching.

@Dan Baker Awesome!! Thanks for letting me know about that. I certainly do have interest and will check that thread out right away!! 

I'm an Iowan who has found his way to Tokyo, Japan to work as a programmer.

Although I truly enjoy programming as a profession, my real dream is to become a full-time investor and continue programming as a hobby. 

I've already acquired four duplexes back in Iowa and, with the help of a good PM, managed to generate a modest passive income stream along with a reasonable chunk of equity. I'm now looking to take my next step towards financial independence by learning where to go from here, and making it happen!