Got my books!



From: Ben Hayden-Smith

I thought I would take the chance to post the first real post on the new format.
I ordered the Building Wealth books and got them in the post yesterday. I am excited to read them and get started in property investment.
Thanks to Jan and Ian for getting them off here to Japan so quickly.
I only learned about this site a few weeks ago and am enjoying reading everyones posts.

I am living in Japan and am heading back to Oz at the end of year when I plan on getting my first IP. I will be here about another 18 months to 2 years and want to make the most of earning yen while I can. Eventually I would like to be an IP full timer.

Look forward to continuing to learn from all of your posts. It makes interesting reading!
Any advice would be greatly appreciated.

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Reply: 1
From: Yuch .

Hi Ben,

I am interested in the Japanese property market but I am not sure if gaijins are allowed to purchase properties in Japan.

Have you done any research on the Jap property market? Interested to know.

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Reply: 1.1
From: Ben Hayden-Smith


I have not researched the market here at all. I had a conversation with a gaijin who is married to a Japanese woman and he is having enormous difficulty in getting financing here. He has lived here quite a while, and is planning on being here permanently but is having no luck yet.
I think it would be pretty hard, however I am sure it can be done. I am looking to focus more on making the most of the positive exchange rate and saving the cash to get started in IPs in Australia.
Sorry I could not help more,

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Reply: 1.1.1
From: Yuch .

Hi Ben,

I know that some major Australian banks have branches everywhere in the world, maybe you are able to have the Australian banks to finance your IPs.

The thing is, can a gaijin own a property?

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Japanese Property

Reply: 2
From: Michael G


Is it true that interest rates are low and rental yields are high in Japan?

Have you made any inquires into how a non-resident maybe able to invest?

Would it be possible to become a debt-partner in a joint venture to secure a property there?

It just sounds interesting...

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From: L Plate

Hey yuchun,

I've asked a Japanese friend of mine your question; happens to be a real estate agent there. Below is an excerpt of an email he sent me recently when I asked about 3-gen loans.

"The average price of new houses is going down in Japan.
Japan's economy is so weak right now that people are afraid of using long
term loans from bank. We are seriously worried about Japan's economy. People
try to save money in some ways. So, many major housing companies produces
low-cost houses, but I think the price is still more expensive here than
other countries. Those housing loans last up to 35years. We don't hear
about 3-generation loans. Several years ago, I think we had 2-generation
loans, but we don't have them now."

I'll get back to you soon.

Mike D
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Japanese Property

Reply: 2.1
From: Steve Mcleod

Ben san,
I live in Sydney and have a japanese mother in-law we visited recently in Tokyo. She kept mentioning BUBBLE and how prices have dropped their over the last ten years.She was worried and hears reports that BUBBLE is starting in Oz.
I would be really interested to know what has happened to rentals in the same period (stayed the same, gone up or down a bit or a lot).

arigato gozaimus

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Japanese Property

Reply: 2.1.1
From: Always Learning

I'm in Tokyo, whilst property prices have gone down 90% in some cases. Rental prices have also moved down, but by not nearly the same level. For Expat housing (super premium rentals eg. the AUD$30K/month market) maybe 50% down, for normal folks apartment rentals (AUD$3000 per/month or less maybe 20% down (also having a crap economy doesn't help the rental market, after all the bubble burst 12 years ago!)
<li> Unless you change how you are, you'll always have what you've got.
To have more than you've got, become more than you are.
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