All Forum Posts by: Patrick C.

Interestingly enough, the developers that stayed home in Hong Kong and bought on the dips all became mega billionaires.

http://www.bloomberg.com/billionaires/2013-10-21/aaa/aaaqa

Collectively, they are worth $135.7 billion today.

Yeah, dress like me and Jerry here.

Chris and Jerry provide excellent advice. When I started there were no online sites to gather information and get educated. You have a huge advantage.

If I had to do it over again I would learn more about using leverage and getting all the numbers down (accounting) from the very start. I highly recommend these books:

Retire Rich From Real Estate by Marc W. Andersen

What Every Real Estate Investor Needs to Know About Cash Flow by Frank Gallinelli (He's on BiggerPockets).

Every Landlord's Tax Deduction Guide by Stephen Fishman.

I don't think you need motivational books and seminars. They are a waste of time and valuable money in my opinion. Don't be fooled by the fast-talking gurus.

You got your priorities right. Focus on the practical skills that will make you money. One last tip is investigate the hell out of your tenant applicants.

Hey Aaron: You look awfully familiar. You used to work on Roppongi-dori?

I think these Chinese want to get their billions out of China before the govt seizes it and the bubble pops there. U.S. seems like a relatively safer place.

http://www.bloomberg.com/news/2013-10-18/jpmorgan-tower-sale-sets-record-for-chinese-in-new-york.html

Thanks for your replies. I thought it would be a provocative and interesting subject to bring up since Shiller just won the Nobel Prize for Economics.

I am a buy-and-hold real estate investor, too. That interview aired in Feb. Housing prices as measured by the Cash-Shiller Composite continued to perform quite well after that.

http://www.businessweek.com/videos/2013-02-06/shiller-sees-no-major-rally-in-u-dot-s-dot-housing-market

Konichiwa Kristin, I am an American living in Tokyo and my wife and I have been investing in condos in Chicago for several years. Conventional financing in the U.S. has never been a problem even for investors. What area of the U.S. are you considering? Have you applied to prequalify for loans?

I just did that in Chicago with Guaranteedrate.com. I believe they operate in Texas also.