Hi all,
Here’s another hypothetical (I know, I know, you’re wondering…not another one????!!!!) But what do you do when all the +CF properties in your state have been sold, and there is no bargain in sight to be had locally, interstate or for that matter o/s (i.e. NZ) then what???? Where do you look then….Mars???? Hey why not, may not be local, but then some of the properties people in here buy seem to be half-way across the globe, they may as well be on another planet!!! LOL
I really love the way some of the newbies to the board come on asking those ever illustrious questions; “where do I look? how do I find them?” and the vague replies, never direct replies from +CF savvy investors. And my personal favourite “look further afield”….yeah, ok, you got that “newbie” if you can’t find it in your own backyard, try someone else’s, or better still try the planet Uranus!!![lmao][lmao]
Oh pleazzzzzzzzzzzzzzzzzzzzzz………….[lmao]Jo
Hi Monopoly
yes it’s an interesting question. as you are probably aware i stated over 12 months ago that there were no more cash positive properties in Vic and neighbouring states that met my criteria. so i announced that i was looking in NZ as other here were also doing. sadly i can see and am seeing the same thing happening here (in NZ), quicker than even i thought was going to happen. My home finding business will probably die sooner than i thought and i will go back into holiday mode. so anyway back to the important question where do we go next ?, i feel the commercial market still has some promise but it wont last long either. So where to then ??? my friends ask me that often, where will i go next ? i don’t know ! Maybe i’ll have to go back and play the stockmarket for a while. or perhaps spend more time looking at buying business’s (no not ones for me to run i’ll pay people to do that). i believe there is always a way to make a dollar in this world, we have to be flexible and pursue new avenues it may not even be property (Shock Horror). perhaps it will be building large scale upmarket retirement villages (anyone interested in doing this).
Hey how about China. i’ve meet lots of contacts from China who would love me to come over and invest there (and i have a friend who i trust greatly who is Chinese) the only problem is i don’t trust the local business people. It amazes me how, over a meal with a high ranking official from the Chinese education dept when they find out (usually my chinese friend tell them) i’m buying realestate they suddenly change and want to do business with me (no thanks). Anyway maybe China is the go ??
come on you guys i need a new market, where’s next ?regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
hi jo,
‘not a bargain to be had’ was probably while we were at the top of the boom here. OK. But we’re over that now. I believe the bargains are now popping up already and will continue to do so – it’s like, at the exact time when property becomes really unpopular and everyone’s dead set against it, even westan’s over it *shock horror!* those few savvy investors still buying will be able to take their pick, as there will be so much for sale that those who really need the sale will take any half-reasonable offer.
And everyone will be renting (cause nobody’s buying) causing rents to rise and demand too.
So yields go up, prices go down…just a big cycle. you leave the ‘capital gains’ cycle and you get into the ‘yields’ cycle.And in the meantime (if you think there aren’t any here) there’s NZ.
or japan? I hear that yields for tokyo apartments are often 20 percent and sometimes as high as 30 percent….
NZ Bird Dogs. SOLD OUT! More deals coming…
(Btw this doesn’t mean that NZ is sold out, just that we sold our latest batch of deals in 4 days flat. whew!)Hi Mini
how is your Japanese ? like to do some bird doging for me there ?
by the way i didn’t say i’m outa the property market but if there comes a time when the returns aren’t there then i’ll sit back and wait for opportunities to present, hey don’t get me wrong if we start getting high yeilds i’m right back in there buying. and i still am buying, for myself i just bought property number 21 in NZ 2 weeks ago but its getting harder to find the deals, I think – give the NZ market 6 months and i’ll be saying to people its too late to buy in NZ, and it already is in many many centers.
regards westanI find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
Westan,
China is the go and here is your new market! Forget NZ! The new market is Biotech. Forget the indusrial age, the info age. We are in the bio tech age well and truly. Stemcell research is well and truly alive in China. I’m not sitting on any moral high ground here. I’m just calling it like it is. In China there’s no debate about the ‘right to life’. You won’t find people locking arms outside of abortion clinics. You also wont see people locking arms around cemetaries ‘IF’ the right to life really is one’s premise. Picture it! People locking arms around a cemetary.
“She can’t come in”
“she was 96, she was hit by a truck!”
“THERE’S OPTIONS!” (????)
“What do you mean, we’ve got to have her stuffed?”
There will be no ‘Save the children. The children are our future plea either’. What does that mean? You reach a certain age and you’re off the love list?
There is investment opportunities in China and all the researchers ARE heading there because there are less restrictions on bioethics and that’s where the money is. You be the judge. Our lines are open.
Gatsby.heya westan!
I’d have to partner with a Japanese on the ground over there…to get over the language barrier. And then apparently after you buy your Tokyo apartment, you rent it to the niche market, being, whiteys teaching english there, who find it hard to get an apartment with a japanese landlord who don’t really like geijin tenants.
Don’t forget you are not only buying for yourself these days but for clients, putting much more ‘stress’ on the market than if you were only shopping for yourself.
…..NZ Bird Dogs. SOLD OUT! More deals coming…
Biotech may or may not be the next ‘big thing’, but people will always need houses.
“In China there’s no debate about the ‘right to life'”
Well, sounds like you’ll fit in real well then. until your life is under threat, perhaps?
NZ Bird Dogs. SOLD OUT! More deals coming…
Hey, want to buy a farm in Africa……? No hi-tech here either.
Seriously though, you can get a piece of desert beachfront view, 3 bedroom, 2 bathroom, garage for about $160,000 with about a 20% return from rental. Your risk is the exchange rate which has been a roller coaster the last few years, but right now with the world in turmoil, we seem to be peaceful. Bit too far away, eh?
No chance of a suicide bomber in Southern Africa (or Oz for that matter) unless they are specially imported.
Keep on looking.
Glenn
Perhaps there is more money in developing a good loan product for people to use for o/s purchases that remove exchange rate risks, but have the necessary legalese to protect all parties.
Japan, hhmmm, Mini, Westan, we need to do coffee. I can see the rental ads up at the TESOL schools – chasing gaijin tenants to occupy tiny little apartments not much bigger than my car space at work – 20% yields!! Get me a flight – Jetstar!!!
CastleDreamer
I did not think it was possible for gaijin to own property in Japan. Is there a way around this?
Good question wayneL. I didn’t think of this. Should I seek advice, damn wonder if I can get the airfare back (lol)
Interesting question to followup though……CD
CastleDreamer
Hi Jo,
I’m not so convinced that the market is that dire… although I’d stay right out of most capital cities personally.
I can give you a contact for NZ investments, there is even a seminar on soon for some up and coming off the plan sales. I also have an excellent contact in Far North Queensland… my jaw drops at some of the deals I finance for clients up there. I.e. under 90K purchase with $150pw rental? Tell me can you argue with that??
Liz Wilson
Mortgage Lender
I’ve been in Japan for over 10 years and with DEpreciation running at around 5-8% over the last few years after the bubble burst and much bigger falls then, population falling and not much to push prices up again????
The niche ‘foreigner’ market I thought was an interesting comment though. I don’t know if too many real estate agents would want to take on the ‘noisy’ foreign renters and back it up with a foreign owner!!
There are cheap houses out where I am north of Tokyo that go for AUD150,000 to 200,000 and would get rent of around $700 to 1000. There are really old places that go for much cheaper but you have to be a resident of Japan to buy as far as I know.
It is possible I believe if done through a corporate arrangement though.
This could help
http://www.japaninc.net/article.php?articleID=1092
or just drink some sake and call it the Japan experience[suave2]
David
I thought the thing with Japan is that gaijin can’t get FINANCE in japan, but if they come with cash they can buy.
?????Do you love Japan stormbiz? I think I am going to fully convert. I adore the place. I was there last month for ten days. Actually the only thing I hate there is fake japanese western food, i.e. a japanese italian restaurant…soo weird….we had to go to some though because not everyone in the party liked japanese food.
i think the foreigner rental thing is actually done through word of mouth. I was reading this whole forum thread about property investing in japan, but it wasn’t on this site i don’t think.
daikanyama ebisu/harajuku was my fave
joy to the world
lizzy, 150 per week rental for a 90,000 house isn’t exactly fitting the 11 seconds rule? unless there’s some creativity put into the deal?
There’s no Such thing as No Can’t Do!!!!!
Originally posted by Lizzy:I can give you a contact for NZ investments, there is even a seminar on soon for some up and coming off the plan sales. I also have an excellent contact in Far North Queensland… my jaw drops at some of the deals I finance for clients up there. I.e. under 90K purchase with $150pw rental? Tell me can you argue with that??
Hi Liz,
Thanks, but no thanks….although I love NZ, especially at holiday time, I prefer to invest locally, and by that I mean within my own state (Vic). I mean no offense to anyone in any other state, nor o/s (NZ or wherever) however, I have invested interstate before and got badly burnt. That is not to say, I don’t believe there is value elsewhere (outside my own backyard) but I feel more confident knowing that I can get to my IPs personally with minimal effort (and cost).
No, I cannot argue with that kind of return, nor would I try to. I have never said that +CF properties do not exist, rather that they are getting harder to find…..eventually the “cheap” properties with good returns will IMO become a thing of the past (that’s all).
Jo
It is almost impossible for a foreigner to get a lease on a place here unless he gets a Japanese person to sign up as a sponsor.
On top of that it is common for 5 months to be paid out for what we would call a bond in Aust. Unfortunately unlike Aust, more than likely you won’t see any of it returned when you want to leave. One month of that is a ‘present’ for the landlord too which I believe started up after the war when it was more likely a bribe to get you and you family a roof over your heads. As investors in here, this would no doubt be good news for all of you.
So there are two reasons why word of mouth has the foreigners passing on their apartments (illegally) to friends when they leave ~ the legal difficulty in getting a place and the exorbitant entry cost.
It probably does create a great niche for those that are prepared to deal with the ‘rule bending’ foreigners.
Sorry I can’t help you with the foreign ownership question minimogul. I have friends that have bought here, and gotten loans, but they are all residents. A search on google revealed some legal information sites that would have the info if you are prepared to do the searching.
After being so long here the what used be a daily ‘wow. look a that’ when I 1st arrived, is now a ‘wow, am I happy I can get the footy streaming in on the w/e’s now or what[thumbsup2]
Japan, China, New Zealand, Far North Qld, WA
What ever happened to buying in an area you know v.well – surely even in Aus the risk is high enough without taking on a global risk – i mean, how much does the average aussie know about the economy of Japan, or China, let alone currency fluctuations etc etc.
Japan can’t even give money away to spark up their economy – check out their cash rate – and guess what, as an Aussie I wouldn’t reckon you’d get to see it – and, I’m starting to get a roll on now, it might be easy enough for Japanese to buy up the east coast of Aust. – i doubt this is reciprocated.
Set yourself up for your very own 2 tier ‘gold coast’ special (IMO)
goodluck….
cheers
brahms
If you don’t ask, the answer is no!!
I’ll stick me head on the block,
I returned last nite from the UK after a 2 week fact finding mission.
There are many deals in the Manchester region of UK – FACT!!When it is a business decision, think with the head and not with the heart.
I’m not sitting still on this one.
Regards
Afloat – head above water
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