home buying

[oyajikun]

The above quote sums up your way of thinking quite well. You care more about a bullshit "thread" than the REALITY of buying property.

Listen closely and try to learn something.

I own 2 properties in Japan. In my name. No guarantor(s) involved. Didn't have no 'spousal' grandmother 'gift' me a parcel of land so that me and the Mrs. could build a house. Getting loans was easy. I showed up with millions of yen, in cash, as a deposit.

[SIZE="6"]Money talks. Fucked Gaijin walk![/SIZE]

Those of you who CAN'T get a loan DO NOT DESERVE ONE!

I want to use the absolute minimal amount of my own money (no money down is taking it to extremes, I do want to have a comfortable monthly payment). But please tell me, unless you're rich enough to no longer need to make investment contributions/stock purchases, why would you want to use your own money to buy a house?

[OKLAHOMA]

I have purchased several houses, plus the land for several apartment buildings (that I built on) and none of them were the same boy-chan, now be nice and go out and play in the traffic...

Do you understand the meaning of the word "facetious"? I don't think so.

We seem to be in the same business. I'm a landlord/slumlord and I REFUSE to rent to disreputable characters. Guess who those might be...

Too bad you built your apartment units. I buy from distressed morons who have financial/gambling/divorce/other issues. Cheaper that way.

[OKLAHOMA]

I want to use the absolute minimal amount of my own money (no money down is taking it to extremes, I do want to have a comfortable monthly payment). But please tell me, unless you're rich enough to no longer need to make investment contributions/stock purchases, why would you want to use your own money to buy a house?

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You are being quite unclear.

I haven't figured out how NOT to use my own money to buy a house. No one gives me any money out of the blue, and I don't have a trust fund. You are probably referring to a mortgage, which allows one to pay off in installments.

The bad thing about that is that you are paying INTEREST, and even at 2.5% (typical low-rate mortgage these days), your interest charges over 15 years for, let's say, a 15 million-yen loan on a 25 million yen dumb-ass used house runs into a lot of cash. Of course, you could calculate the value of an unspent deposit gaining interest in some sort of financial product versus interest saved by increasing your deposit, but that sort of calculation makes my head hurt. Better to pay more upfront, especially IF YOU CAN.

What many GAIJIN DICKWADS do not realize is that it's hard to buy a house without money. They think that they can PLUNK (love that word) down a 1% deposit and PRESTO! a bank will lend them the rest.

When it comes to a rental unit, now you're talking. The lowest downpayment makes sense if you have reliable paying tenants, (their rent pays your mortgage) rather than some absconding Gaijin derelict misfits who flee into the night when they get the sack or decide to ride "the hippy trail" in Nepal.

Next question.

[OKLAHOMA]

I think the way the way San-in (a financial institution) treated me was something of an eye-opener to my father-in-law.

Ah, the father-in-law guarantor (90% of Gaijin can't buy a home without the wife's often reluctant dad's help). Not very independent, are we?

[Zeth3D]

Why buy with your own money?
Because its yours.
Duh.

Having a huge mortgage means its not yours probably for 80% of the time you live in it. Buy it with the majority of your own money, and use the mortgage just to help relax your finances, and just A) be content that the house is mostly yours or B) pay the whole damn thing off when you can, and never worry about anything again! Lemon fresh scent and all.

[james]

I own 2 properties in Japan. In my name. No guarantor(s) involved. Didn't have no 'spousal' grandmother 'gift' me a parcel of land so that me and the Mrs. could build a house. Getting loans was easy. I showed up with millions of yen, in cash, as a deposit.

booey for you. i was caught quite unaware that this was a dick-waving contest; you've certainly mastered the art of ejaculating from the mouth, however.

[hairygateau]

====

The bad thing about that is that you are paying INTEREST, and even at 2.5% (typical low-rate mortgage these days), your interest charges over 15 years for, let's say, a 15 million-yen loan on a 25 million yen dumb-ass used house runs into a lot of cash. Of course, you could calculate the value of an unspent deposit gaining interest in some sort of financial product versus interest saved by increasing your deposit, but that sort of calculation makes my head hurt. Better to pay more upfront, especially IF YOU CAN.

Next question.

Hmm.. that rule-of-thumb applies to everywhere except the funding currency centre of the universe.. japan. Why do you think all the j-housewifes are borrowing up to the hilt and flipping into AUD or NZD?. Parking all your own cash into a yen-based asset is not a smart idea - especially if you are a foreigner!

Take advantage of the strong jpy, flip into your home ccy, buy some higher yielding asset there (e.g. bonds/property) and borrow all you can in jpy for your house here. Carry trade baby!

[OKLAHOMA]

Hmm.. that rule-of-thumb applies to everywhere except the funding currency centre of the universe.. japan. Why do you think all the j-housewifes are borrowing up to the hilt and flipping into AUD or NZD?. Parking all your own cash into a yen-based asset is not a smart idea - especially if you are a foreigner!

Take advantage of the strong jpy, flip into your home ccy, buy some higher yielding asset there (e.g. bonds/property) and borrow all you can in jpy for your house here. Carry trade baby!

You are correct my friend, but anyone who invested in property in the States between 1995 and 1998 is now sitting on a depreciating asset (for the time being) except for Manhattan and a few other urban centres.

I bought a foreclosed property in Vermont last month because the previous owners got stuck with a fucked-up mortage that ballooned into the stratosphere. They got sucked in by unscrupulous estate agents (that's real estate in the USA). Dickheads.

Most Japanese housewives bought bank term deposits (at LOW rates of interest) and funds. Most funds worldwide have tanked since October of 2008. I'll settle for rental income, in yen, thank you.

[OKLAHOMA]

Why buy with your own money?
Because its yours.
Duh.

Having a huge mortgage means its not yours probably for 80% of the time you live in it. Buy it with the majority of your own money, and use the mortgage just to help relax your finances, and just A) be content that the house is mostly yours or B) pay the whole damn thing off when you can, and never worry about anything again! Lemon fresh scent and all.

And there's always PRIDE OF OWNERSHIP, a concept that Gaijin can't even begin to imagine!

[wuchan]

And there's always PRIDE OF OWNERSHIP, a concept that Gaijin can't even begin to imagine!

yep, you are a jap.

[hairygateau]

You are correct my friend, but anyone who invested in property in the States between 1995 and 1998 is now sitting on a depreciating asset (for the time being) except for Manhattan and a few other urban centres.

Have prices fallen that much or have you mixed up your decades?. I don't know much about the US, but in the UK prices are heading back to 2005 levels. Wish it would happen quicker, a drawn out recession is no good to anybody, even the vultures.

I bought a foreclosed property in Vermont last month because the previous owners got stuck with a fucked-up mortage that ballooned into the stratosphere. They got sucked in by unscrupulous estate agents (that's real estate in the USA). Dickheads.

With divorce rates where they are, the old approach of "sitting tight" when the house went into negative equity doesn't really work. Makes you wonder about the high divorce ratio of jap/non-jap couples and home ownership.

Most Japanese housewives bought bank term deposits (at LOW rates of interest) and funds. Most funds worldwide have tanked since October of 2008. I'll settle for rental income, in yen, thank you.

Well the housewives were certainly doing a lot of their FX on margin. I classify that as borrowing/leverage. Having just come back to Japan after a few years away, I'm amazed at all the targeted advertising for leveraged FX trading aimed at Mrs Hairy.

The FSA is even trying to stop it..

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSP8mxXwrmrE

Any yes, most EQUITY funds worldwide have tanked, and so they should. However, the average fixed income or even commodities fund has probably brought decent returns or at least flat. Average yield on decent 10yr corp debt is around 6.5% now (after being as good as 10% in Jan). What's the all-in rental yield like on a japanese residential rent?

Finally.. if you're a believer (like me) in huge inflation at the back end of all this mess - biggest creation of money supply ever blah blah, then the easiest way for joe blogs to 'hedge' himself is to leverage up, borrow as much as he can and watch the value of that debt get eroded away to nothing

[OKLAHOMA]

Someone wrote: "Any yes, most EQUITY funds worldwide have tanked, and so they should. However, the average fixed income or even commodities fund has probably brought decent returns or at least flat. Average yield on decent 10yr corp debt is around 6.5% now (after being as good as 10% in Jan). What's the all-in rental yield like on a Japanese residential rent?"

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Ok. I have 2 million yen lying around in a postal savings account, doing diddly-squat. Tell me where to go and get 10-year corporate debt (American? Japanese? Aussie? rating?) paying 6.5%. Is 2 million enough, or am I in the bush leagues (meaning a 'minor actor' for you Commonwealth types)) with such a pitifully smal lump sum? I'm free on Tuesday afternoon, so should I call my broker over at NOMURA and book an appointment?

As for "all-in rental yield", I have one place that gives me over 12%, before taxes, mortgage payments and regular maintenance. At the end of the year, after all expenses, I still come out ahead. When it's all paid up, in 2016 everything will be GRAVY. Gravy man, gravy. I'll never sell that place, it's always occupied with students attending a private university (basically a university for kids who couldn't get into university).

[OKLAHOMA]

Have prices fallen that much or have you mixed up your decades?.

D'oh. I meant 2005-2008.

[OKLAHOMA]

yep, you are a jap.

Nope. You're a punk. No loyalty to anything.

You are a Gaijin flake.

[Cyka UchuuJin]

Good luck and be careful what you wish for. You may just get it.

*sigh* sadly, it didn't seem to work for me...i wished you'd never ever come back.

[GuyJean]

.. I own 2 properties in Japan. In my name. No guarantor(s) involved. Didn't have no 'spousal' grandmother 'gift' me a parcel of land so that me and the Mrs. could build a house. Getting loans was easy. I showed up with millions of yen, in cash, as a deposit...

I take it you're a Japanese citizen?.. And 'millions' of daddy's yen isn't really that much..

Oh, and why did you come back again? I thought you were through with the FG losers.

GJ

[OKLAHOMA]

I take it you're a Japanese citizen?.. And 'millions' of daddy's yen isn't really that much..

Oh, and why did you come back again? I thought you were through with the FG losers.

GJ

No. Not a J-Citizen. Shows how ignorant you are!

Not a penny from Daddy, unlike you trust-fund bastards.

[GuyJean]

No. Not a J-Citizen. Shows how ignorant you are!

Not a penny from Daddy, unlike you trust-fund bastards.

Hey, the spoiled kid with no friends is back!

So, mommy bought you two houses in Ibaraki? Cool. I hope you thanked her.

GJ

[FG Lurker]

So, mommy bought you two houses in Ibaraki? Cool. I hope you thanked her.

I highly doubt okie has the breeding to get his own family money... Most likely he got lucky and knocked up some biatch with rich parents.

[nottu]

[IkemenTommy]

Hey, the spoiled kid with no friends is back!

So, mommy bought you two houses in Ibaraki? Cool. I hope you thanked her.

GJ

No I think he is crashing at an internet cafe in Ibaraki. Fuckin loser Okie eikaiwa sensei white trash piece of shit.