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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Seeker of Truth who wrote (48871)	4/30/2004 5:37:23 AM
From: Taikun	Read Replies (2) \| Respond to of 74559

Hi Malcolm, My wife is Japanese and we're trying to get financing on a small apartment block (A SMIDGEN MORE THAN A TRIPLEX). Values are beaten up, you can get stuff at low prices, new concrete buildings 5 minutes to downtown subway stations with vacancy rates that make the vacancy rate at Hugh Hefner's Playboy Mansion look like a Ghost Town motel. Full - for 15 years. The net returns are 10%+, the older stuff 20%and over. On a nice bldg with a return of 10% leveraged return, cash on cash, goes over 20%. Domestic Japanese investors can usually get the bank to put up 60%. For foreigners it is quite different. Buying in the UK or Australia from the US is easier. If you can get financing, as an English friend of mine who owns a pub there (so he has a Japanese domestic income) the fixed rate mortgages can be 2% for 35 yrs. And we thought Greenspan was free money. What is that BTO song? Bbbbaby you just ain't seen nutthin' yet. Now where can I get a Yen fixed rate 2% 35 year loan?