All You Need to Know about Real Estate Property in Japan
00:00:00: It is different, the market here is different.
00:00:02: The industry's different.
00:00:04: and one of these things well you cannot just come with a lot of cash and expect that everything will be fine right?
00:00:12: This is one thing.
00:00:13: so what are some other differences that have noticed throughout your work in Japan?
00:00:22: Wow how long do we...
00:00:39: Either folks and welcome or welcome back to Nippon Trading International's Japan Real Estate Podcast.
00:00:45: I'm your host, Ziv Nakajima again And this podcast is brought you among others by Emil Gorgies of realestate.jp.
00:00:52: He's a Tokyo real estate agent who specializes in serving international or mixed nationality families Who are looking for the perfect family home.
00:01:00: So, Emile is an Australian.
00:01:01: He's been living here in Japan for over two decades now and for about half of that time he has been buying selling and managing real estate properties... ...in Tokyo on behalf his own family and the great many happy clients And also acts as a mortgage broker on behalf of this client.
00:01:16: so it got dedicated loan officers.. ..and many Japanese megabanks.
00:01:20: And if you're a regular listener of the podcast, You probably already know him from our JREP.
00:01:24: The Japan Real Estate Experts Panel Sessions Which means that your all ready aware Of the fact that man is an absolute fountain of wisdom on All things related to real estate in japan and In particular family homes the greater Tokyo metropolitan area and mortgages.
00:01:41: Most importantly he's incredibly generous with his time and advice which Is more than happy to provide at no cost or commitment To anyone asking.
00:01:49: so If u've been thinking about buying your home in Tokyo, but you've been sitting on the fence for a while or All right, so for today's episode this is the first of two conversations that I've had recently with Maya Matsuoka.
00:02:12: Of The Japan Expert Insights podcast and YouTube channel.
00:02:16: They're a consulting firm specializing in Japanese business culture cross-cultural management leadership customer experience And business strategy in Japan and their podcasts on youtube channel Is one my personal favorite?
00:02:27: So i'm bit of fanboy was very flattered to be on And our interview is mainly on the topic of real estate property investment in Japan.
00:02:36: How we came to do what we do and set up NTI In The First Place, What Makes Japan A Bit More Challenging Than Other Markets Worldwide?
00:02:44: Also What Makes It Attractive?
00:02:46: Why Japanese Are Often Reluctant To Work With Foreigners?
00:02:49: How Is Real Estate Market Here Different Or Counterintuitive At Least?
00:02:55: The rental market tenancy laws, how those work here.
00:02:57: What Japanese tenants are like generally?
00:03:00: How market fundamentals like purchase price and growth or capital gains work here what the general business environment is like.
00:03:07: we then dived into more granular stuff Like various asset classes that we recommend to our clients in why And how Japan's population trends and investors profile might affect the choice of asset classes.
00:03:19: what's included and sometimes not included in online property listings, what questions to ask.
00:03:24: What Japanese real tours do and don't do?
00:03:27: And of course where we come in that gap as well as other gaps that we fill.
00:03:32: We also talk location selection Hokkaido specifically another snow country property complications.
00:03:39: Then went on a bit of a segue and spoke about foreigner hub cities.
00:03:43: Cities tend to attract more foreigners which then led us to get completely sidetracked and speak about the effect of current anti-foreigner sentiment, policies on property market or foreign ownership visa policy etc.
00:03:56: And finally we talked a bit about the purchase process itself.
00:03:59: what happens when?
00:04:00: What's common overseas that isn't common here?
00:04:02: What level of negotiation is acceptable?
00:04:04: not acceptable so forth.
00:04:07: I know i say this alot but it really is deep dive in all things related to real estate property investment.
00:04:14: Great place to start if you're just looking into this market for the very first time, but also definitely worth listening.
00:04:19: If you are already active here or just about to pull a trigger on your first deal.
00:04:23: so grab a drink.
00:04:24: it's big bit of long one.
00:04:26: enjoy conversation and I'll see again.
00:04:44: Good morning to everybody watching us on this cloudy day here in Tokyo, and I believe it's cloudy.
00:04:49: In Japan hopefully sunny where you are if You're not in the country And It's a pleasure to welcome you today Here and our very first well let's say guest For The First Time Ziv Nakajima again.
00:05:04: So i hope that i pronounced your name correctly.
00:05:07: yeah
00:05:07: That was perfect.
00:05:09: pretty sunny
00:05:09: in Fukuoka by the way.
00:05:10: no clouds here.
00:05:12: Oh, really?
00:05:12: That's wonderful because Tokyo is under a thick layer of clouds and it's kind of raining.
00:05:19: But that what we are in the rainy season.
00:05:22: so... We cannot help it!
00:05:24: And today were going to talk about real estate in Japan with Ziv Because he has been working on this area for quite awhile.
00:05:33: He was based here as you already know.
00:05:36: I believe many have met him If not in person, maybe on social media particularly on LinkedIn.
00:05:44: And if you have any questions and comments just share them to Zifa when it is appropriate And I don't want to keep you waiting anymore.
00:05:58: So, Zif... Again!
00:06:00: You have been here for a while and when i say here in Japan.
00:06:04: so could you please tell us about yourself?
00:06:07: Of course from there we can dive into the topic today's topic of real estate in japan.
00:06:14: Sure thank-you for having me.
00:06:15: firstly It is an exciting podcast.
00:06:22: I was born and bred in Israel, kind of left as soon as they could for various reasons.
00:06:31: It's not always the best place to live.
00:06:33: And then...I moved to Australia where i stayed about ten years Managed my Australian passport And then I sort of married into Japan, like many of us.
00:06:46: I suppose and started coming in going to Japan on a regular basis to visit my wife's family.
00:06:53: Then eventually ten years later moved here.
00:06:56: that was fifteen or fourteen years ago now.
00:06:59: Oh right so That's a long journey, if I can say.
00:07:03: You have lived in three different countries which is already quite an experience.
00:07:09: but then here in Japan you've been for fourteen years permanently without interruptions and so on And you're working most of that time at the real estate industry.
00:07:24: So what actually pushed you into this direction?
00:07:29: Because it's not an easy place to be, I believe that there are quite a few nuances and also characteristics of the industry here in Japan.
00:07:40: That they're quite difficult for foreign professionals.
00:07:44: It is definitely different sometimes counter-intuitive.
00:07:49: Well my partner Chikako and i have purchased a few properties For our own investment portfolio And then property to live.
00:07:58: And just going through the motions, this was again, fourteen-fifteen years ago.
00:08:03: We were still living in Australia.
00:08:04: at that time we kind of figured out a lot.
00:08:08: people could maybe use help with it.
00:08:10: so Japan is very attractive investment market.
00:08:13: not necessarily for same reasons.
00:08:15: its attractive in other countries So counterintuitive.
00:08:17: but It isn't an attractive market for people who recognize advantages all bit.
00:08:22: But Its Very Unaccessible inaccessible.
00:08:26: It's getting a little bit better these days and you know super hot spots international aware places like central Tokyo, Niseko are a bit different in that regard.
00:08:36: but vast majority of the country is unfortunately still inaccessable to people who don't believe read write their language.
00:08:44: uh they're Japanese language.
00:08:46: so we kind of figured out people could use some help with that and that's how we got into it.
00:08:51: Right, so is this only the language?
00:08:54: Because yes if you haven't lived in Japan and if don't speak it's really difficult with all regulations of course.
00:09:02: I mean there are a lot of paperwork involved in deals.
00:09:09: So you do need to know your way around all these regulations and so on.
00:09:15: And everything is in Japanese, we just... I have never seen any forms in English!
00:09:21: It's not only the real estate but almost anything else.
00:09:25: It's
00:09:25: a national paperwork here isn't
00:09:29: it?
00:09:29: It is indeed, but of course Japanese isn't the only national language here.
00:09:34: So it's not surprising by the way because when I think about my country back in Europe Bulgaria we don't have forms in English or any other languages either.
00:09:45: most things are and i think that's ninety-nine point nine percent if everything is in Bulgarian.
00:09:50: so...
00:09:52: But one of the differences.
00:09:57: that translates into a lot of nuances, but if I as the foreigner go to any other foreign country whether it's European Country definitely Western World and most Asia.
00:10:11: There is going be swarm professionals who want take my money work with me right?
00:10:16: They will find way make things happen in English for me provide translation interpretation.
00:10:21: so kind becomes investor job to find the ones that are reliable and honest, we want to work with.
00:10:30: And here it's a hundred eighty degrees different!
00:10:33: It is exactly the other way around.
00:10:34: everyone is kind of honest in by-the-book.
00:10:37: its very hard to get swindled into Japan but finding somebody who agrees or will take the extra steps to make it smooth for the foreigner to walk with them... ...is very difficult to find.
00:10:49: so becomes a case not finding who I can trust.. ..but who would agree to work me?
00:10:54: Right, and that's the difference.
00:10:56: That many people don't see when they are out of the country right or They don't have any experience here.
00:11:02: What
00:11:03: I mean?
00:11:03: I know did i've done The same thing you as an investor especially a cash buyer because You know for non-residents it's quite still quite challenging to get loans.
00:11:12: so most Most of the buyers our cash buyers if we don't live year.
00:11:16: And So the assumption is again based on other countries.
00:11:21: I'm coming in with my cash and i am a buyer, and im serious.
00:11:25: And everybody wants to work on me so that they can dictate the way.
00:11:30: The agents must be very hungry for their deal but it's not like this at all here.
00:11:38: Yeah, it just makes me think about one thing because in Japan Okiaku-sama is Kamisama.
00:11:45: So we know this and at the same time There are other barriers basically a lot of barriers that do not work In the case of real estate right?
00:11:55: Because yeah The customer is good but Not really in these industry.
00:12:01: so they could be...
00:12:02: The customer Is God But It Needs to Be A Customer That I Can Serve and it needs to be a customer that I can serve smoothly the way that i'm used too.
00:12:11: And as soon as a foreigner face shows up, especially if they're not here in Japan then The expectation is that everything will be more complicated than every.
00:12:20: there will be misunderstandings and That might lead to conflict?
00:12:24: As we know living here but many people maybe don't know Conflicts are very scary words for Japanese.
00:12:30: so It's a little bit different when... It's very different when that Kamisama is a Gai Kokudins.
00:12:39: Yes, indeed!
00:12:41: Well and what are some other differences then?
00:12:44: Because you mentioned it IS different.
00:12:47: the market here is different The industry is different.
00:12:50: And one of these things... You cannot just come with a lot of cash and expect everything will be fine.
00:12:58: This is one thing.
00:12:59: So What Are...?
00:13:01: some other differences that you have noticed throughout your work here in Japan.
00:13:08: Wow, how long do we have?
00:13:09: Okay so the basic stuff is related to what we've already spoken about.
00:13:14: So relate...the kind of things come up with all kinds of business context relationships The miscommunications and mistakes And there are things that might be offensive to a Japanese counterpart and the things that Japanese counterparts do, say it might be offensive for me as a foreigner.
00:13:31: So all of these were used from other areas doing business in Japan.
00:13:37: The rest are more industry related For example definitely most western countries which is where our bias come form or Westernized Asian country like Singapore or Hong Kong.
00:13:52: it's kind of default that you always raise the rent when a lease expires, right?
00:13:57: Just as a basic example.
00:13:59: Rent keeps going up at least in most major cities and That hasn't really been the case In Japan to any significant degree against super central Super international hot spots And do experience some slight rent hikes but nowhere near there The property price hikes.
00:14:16: so the paradigm Foreign buyers have in mind is that you know, whenever the lease expires I can choose if i want to renew it or not and I Can choose what?
00:14:25: The new rent will be.
00:14:27: That doesn't really apply here.
00:14:28: for one thing.
00:14:30: The legislation Is very tenant oriented so You can just tell a tenant that you're Not going to renew.
00:14:35: at least you Have to have A very good reason To do that and In most cases you need to offer some compensation because they Do have a legal leg to stand on.
00:14:42: Not that your typical japanese tenants Will take you to court.
00:14:46: Most of them We'll Just pack up And move.
00:14:47: but If One of them, let's say you've got a very bored old man with a lot of time on their hands.
00:14:53: Then if they do decide to take you the court, They would have illegal leg to stand off.
00:14:57: so we need to notify them well in advance of contract expire lease expiry and We need to make sure that we're offering them Number one because it's the right thing to do but also legally Aside from the fact that again legally it might be their right to complain about and cause a fuss because It's not really legally acceptable.
00:15:27: The other thing is, they can get cheaper apartments That are very similar with the one we're living in which has not raised the rent for many years.
00:15:34: They'll just move out.
00:15:36: I know i've made this mistake coming in all guns blazing And knew what was going on Because I had property investments in Australia and bought an apartment.
00:15:43: Oh!
00:15:43: The lease is just expired.
00:15:44: Great let's raise the rent.
00:15:47: Property manager, again being Japanese is very conflict-averse.
00:15:50: So aside from asking are you sure that you want to do that?
00:15:54: They didn't really say much.
00:15:57: they didn't want confrontation with the landlord.
00:15:59: so they did what I asked for and the tenant company moved out.
00:16:02: And then it took us about a year to find a new tenant because there was a whole different reason for That but The assumptions that we make coming in the things work here the way that they worked In our country of origin.
00:16:14: Again i can go on an on four hours But Things Are Different Here.
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00:17:08: Yeah, I'm now basically in the process of changing office.
00:17:13: My office location and to what you just said... The company that manager gave us an announcement or they warned about this six months in advance And also offered another location which is actually much better not only for the same rent-offee per month, well it's better.
00:17:40: For the same rental fee but the first month of being in a new location is basically not charged so its given to us free charge.
00:17:50: So I was like wow this is such good deal you know why wouldn't i continue the contract right?
00:18:00: It wouldnt happen back home In
00:18:04: most countries.
00:18:04: there wouldn't be the case.
00:18:06: Right, yeah.
00:18:07: so I think that this is something which really deserves attention here in the good sense of the word.
00:18:14: it's what i mean As
00:18:15: a tenant.
00:18:16: as a landlord It can be pretty annoying sometimes but
00:18:18: yes Sometimes Yes.
00:18:20: But as a tenant because we can definitely say That tenants are more than landlords.
00:18:26: The situation here is tenant oriented caused the Japanese and to be conflict-averse.
00:18:31: So in the past, before it was reformed landlords were taking huge advantages of tenants so they would.
00:18:40: you know how... It's still a thing in many cities in Japan.
00:18:42: You pay an Eikina thankyou fee when you moved into an apartment which is basically just a gift for the landlord accepting as a tenant Which is not refundable.
00:18:52: And what landlords used to do?
00:18:54: They use?
00:18:55: charge that fee Kind of exuberant fees to tenants then kick them out six months later and go through the whole motions again with it because Landlords by definition are a little bit more, you know financially savvy in a bit More oriented than somebody who's just renting a place to live And they did use to take advantage of tenants.
00:19:15: That's why the legislation was put into place.
00:19:17: Yeah I see which is good thing.
00:19:21: Yes definitely
00:19:22: Right well... Okay, so you mentioned also advantages right?
00:19:28: So of investing or being in this industry here in Japan and You also said that Probably well the advantages are different from The ones in other parts of the world.
00:19:45: Can you elaborate?
00:19:46: Sure Well again it's a bit counterintuitive.
00:19:51: but you know paradigm in most countries around the world is that real estate always goes up in value, right?
00:19:59: I would argue it's not necessarily the case at least in the last couple of decades.
00:20:02: but generally speaking people assume for example Australia where i've lived and worked many years.
00:20:08: And had a couple of real-estate investments there.
00:20:10: Australia kind of assuming every seven year property price will if not double very significantly go up barring some crisis times like the global financial crisis and COVID, but generally speaking.
00:20:26: The assumption is that real estate values will go up in Japan.
00:20:29: this is not the case so that can be a disadvantage if you're banking on speculative investment In the sense of I'll buy a property And then i'll sell it for double the price.
00:20:38: But there's huge advantage because the fact That vast majority of the country property prices have Not gone out means that You Can find these extra cheap condo units and houses Out in the countryside.
00:20:48: So One advantage is affordability for the price of a single property in many Western markets.
00:20:54: You can buy five or six properties here, right?
00:20:58: We have clients buying investment and mansion condo units In many big cities around Japan Let's say central Fukuoka Tokyo Saka Kyoto those places we put aside.
00:21:09: but even The suburbs of Osaka and Fukuoka are the suburbs not Even suburb semi suburban Sapporo For example Nagoya.
00:21:19: you can still buy condo units that are good, legit investment properties or as low as five six million yen which is unthinkable in other countries.
00:21:30: So for your non-resident if somebody who's not versed in the extent rate that's about thirty thousand US dollars at the moment.
00:21:37: so there are very cheap deals to be had here saying story The Akihaboom that international media keeps harping on people buying properties for a few thousand dollars or sometimes semi-three in the Japanese countryside to make our holiday home, or Airbnb whatever their case may be.
00:21:55: That wouldn't have been possible if property kept going up and value all over country like it does many other countries.
00:22:00: so that's one advantage.
00:22:02: The other one... And again we've touched on this is the docile nature of tenants In other countries.
00:22:10: you had to deal with tenants who are constantly complaining breaking things and expecting you to repair it.
00:22:17: If you go some neighborhoods in the USA, or other countries that have squatters of drug labs if they want evicted tenants who haven't been paying rents because they will never move out those kinds don't happen here right?
00:22:31: The tenants are very docile at any sign of confrontation.
00:22:35: They're going just shy away from moving forward.
00:22:41: For example when we started that was back in twenty eleven, twenty twelve when we started it with just on the uh...back of fifteen years of deflation.
00:22:53: In Japan or twenty-twenty year's of deflation maybe twenty ninety nineties a bubble burst and average rents were about half what they work back.
00:23:04: but I've got tenants who have been living same property for ten to twenty years because Japanese like their stability.
00:23:10: They don't want move even though Even though the rent is halved, if they were to move out and then rent a similar apartment anywhere else or even try to run this same apartment for me again I would have to lower their rent by about half.
00:23:21: But they will never think of approaching landlord and trying to negotiate low rent because that's perceived as conflict.
00:23:29: So tenants are very docile which has huge advantages.
00:23:34: you don't need to deal with tenant issues.
00:23:36: You have other issues here.
00:23:38: You've got elderly population tenants, sometimes destitute tenants who don't have a family or relatives and die in the property if you get an elderly gentleman that smokes like a chimney but never opens a window.
00:23:50: so we have other types of issue here not the tenant problems.
00:23:55: generally speaking Japanese tenants are very docile.
00:23:59: The same applies for the professionals working with your property managers, you Japanese real estate agents.
00:24:08: There are bad apples everywhere but the percentage of bad apples here is very small and paper work culture that we've mentioned.
00:24:18: there's another advantage everything has got a paper trail to the moon and back.
00:24:21: There're no shady deals under the table.
00:24:24: pay half in cash without being done... Everything is documented!
00:24:27: Everything has legal recourse.
00:24:30: it's an orderly country to be operating And the cash flow is decent for a developed country.
00:24:38: We can get up to five, six percent return on our investments every year.
00:24:41: that's not bad for real estate properties in an underdeveloped country
00:24:45: Indeed and with very little as you say Very Little Conflict.
00:24:49: while listening too I was thinking That yeah sometimes You've got The Bad Apples but it's Not like.
00:24:56: what's that?
00:24:57: Human relation conflict?
00:24:58: right It's more about let's Say physical property issues that can be repaired once the tenant moves out.
00:25:07: And I think...I have a very limited experience, you know just moving from place to place in Japan like we've moved maybe three or four times only but every time basically they repair The apartment of the property before next tenant comes In and i think it's common practice here.
00:25:30: so basically everytime you move into a place, it's pristine.
00:25:36: It is clean and renovated right?
00:25:40: Yes
00:25:41: that what the tenants expect.
00:25:42: so because all of the apartments would be in prime condition or at least cosmetically in prime conditions there might underlining features that the tenant doesn't care about but The wallpaper will be fresh water fixtures electric fixtures will be freshened lighting will be very livable from day one which what the tenants would expect and we have to do as landlords between tenants.
00:26:07: Right, so you also mentioned that most of the time they're made based on our own experiences out in Japan or even within Japan.
00:26:23: but let's say some of these assumptions are misconceptions about investing in real estate here, or buying property.
00:26:38: In any event just trying to get some return on investment?
00:26:46: Aside from what we've mentioned regarding how tenancy laws work and the fact that property should be gaining value other things In other countries, especially again in the Western world.
00:27:03: It's assumed that single family homes would be the investment class of choice.
00:27:09: So you buy a Single-family home three or four bedrooms You have a family move in there and that tends to be.
00:27:16: those are the cash cows in other countries.
00:27:18: That's where you find the tenants easiest.
00:27:20: were your management will be easier Here, I would say that a single-family home is the good investment if you want to be very hands on and if you know how to buy them right.
00:27:34: But in most cases for somebody who's looking for let's call it turnkey semi passive investments...I wouldn't recommend single family homes For a bunch of reasons.
00:27:44: Firstly they're not built last in Japan.
00:27:46: They are build for pretty light wood plastered with flimsy materials And there's various reasons for that, earthquakes being one of them and the assumption Japanese like everything new.
00:27:58: So the assumption is every thirty-forty years you tear down a place to build in your house anyway.
00:28:03: but whatever reason if you buy single family home then haven't done proper due diligence on it or not aware what they're buying potentially without structural inspection which some people do And you could be buying into some major expenses, sometimes to the tune of price of a property again.
00:28:24: Some people that work within this industry like say and I agree with it is if they can't afford to buy their properties twice don't do so in first place because its very possible for your paying for cheap single family home thats little bit older than what u think is nice location comes with headaches not aware of quality wise.
00:28:45: The other thing Japan's population trend being what it is.
00:28:50: It's a lot more challenging to find the family, meaning some couple with more than single child who will want to rent something of that size right?
00:28:59: You're your typical tenant in Japan.
00:29:02: because of Japan shrinking an aging population and the fact they are not having many children our typical tenants usually singles or maybe at best a couple Tenant is rare and difficult to find.
00:29:17: then most people when they reach the state where there have a couple of children And we're gonna get a mortgage in by their own place because Japan's interest rates I mean, they've been going up recently but it still very low.
00:29:28: So It's actually a lot harder to populate Family-sized property.
00:29:33: right that this other advantages families staying placed longer than singles and young couples But placing them will take awhile and renovation in between tenants would be more expensive cuz you got a larger floor space.
00:29:45: And so the default, let's buy a single family home and rent it out to a family can apply here.
00:29:51: if you're... The hands-on type was into a project in your going DIY that place.
00:29:55: You've got something created that might want do with it or run short term state property but typical by house buying single family homes.
00:30:03: put their families there forget about is not really the default here.
00:30:07: condo units are easier for that purpose.
00:30:09: actually
00:30:10: You mean that it's easier or maybe better to invest in what, condo units?
00:30:18: It
00:30:18: is not a matter of better because every investor is different.
00:30:21: We do have a lot clients who want the hands-on experience with single family home and we would advise them if their budget allows.
00:30:30: they can buy apart from small building with two or three floors multiunits.
00:30:35: you could have diverse income streams which does stand to gain in value more than the structure, and they are pretty cheap.
00:30:44: In Japan a part of building good location profile can start as low as fifty million yen Which is about three hundred thousand US at the moment.
00:30:52: And so some people go for that.
00:30:54: other People want to do more creative stuff with their property.
00:30:57: So for them may be owning The entire structure doesn't make sense because in a condo situation With owner union strata you can really Do what?
00:31:05: You wanted it.
00:31:07: you have to follow the owner union rulebook.
00:31:09: You have to ask for permission from a lot of stuff, so I'm not saying it's better investment for everyone but just be aware of differences between what market is like here and in other countries.
00:31:20: And if your type was looking at hands-off semi passive income kind of salary money into bank every month investments then i would say condo units are
00:31:33: easier.
00:31:37: Of course, there are a lot of specifics here in the market and it's always wonderful to learn.
00:31:41: But is there anything else that you would recommend or maybe talk about some applicable strategies of choosing what to invest in?
00:31:52: And where to buy property...and so on.
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00:34:04: and now back to the podcast
00:34:07: Sure.
00:34:07: Well when we say invest I'm assuming you mean people who want to invest For financial gain.
00:34:14: You know talking about somebody buying their house to stay in for their own personal purposes Yeah
00:34:20: Right no I mean, investing really.
00:34:23: Investing?
00:34:24: No, because we have a lot of people telling us that they want to invest in Japan and then the conversation is what are looking for as holiday homes.
00:34:31: so first thing you say hey it's not an investment because again concept over seizes like buying property will gain value.
00:34:39: even my own personal family home or Holiday Home is an investment.
00:34:43: Not necessarily the case here.
00:34:45: So to invest strictly on financial gains I would advise if it is a single family home, or you own the entire structure let's say an apartheid and its wooden or steel-framed wood structure not concrete structure which could be case with houses in most small apartment buildings.
00:35:07: And i will aim for twenty years than younger because once they hit about thirty years of age maybe thirty five maintenance expenses start accruing and renovations need to be done a bit more rapidly.
00:35:26: And that's when your yield starts to shrink, as a result the resale value will start to shrink more rapidly because people buying these properties for you in most cases are going to be investors too.
00:35:42: so if they know their expenses are piling up Right.
00:35:47: So I would normally buy, if it's a wooden or steel frame wood structure... ...I would normally by them as close that can get to twenty years and younger maybe twenty-five.
00:35:57: if i can't swing at twenty And then start considering re-selling it as they approach thirty All
00:36:03: right But is this one of the things that the property listings don't tell you?
00:36:11: Because
00:36:13: How old are their properties
00:36:15: They do.
00:36:15: Okay, so what are some of the things that those listings don't tell you then?
00:36:21: Well if it's an entire structure on a land plot that you own entirely... So not a condo unit!
00:36:29: If its house or an aparto they might not always specify in the listing if it is rebuildable or not
00:36:34: right?!
00:36:35: So zoning regulations tend to get stricter over time these days Certain width of access road for emergency vehicles certain distance from the neighbors.
00:36:46: You can only build up to a certain height.
00:36:49: Those restriction depending on the agent sometimes are listed on the listing.
00:36:52: Sometimes they're not.
00:36:54: so you could find out if you haven't asked The question or we haven't reviewed.
00:36:58: it'll always be in the official documentation.
00:37:00: But if you have and reviewed it properly, or you haven' t understood what that means?
00:37:07: earthquake or big typhoon hits, it's a complete total loss because again flimsy wooden structures.
00:37:12: And then you find out that you've got insurance compensation but you have to take the money and go buy another land plot because we can't build new structure on this same land plot anymore
00:37:21: right?
00:37:23: The Realtors is also important understand agents.
00:37:28: role here in Japan is not to educate you.
00:37:32: They're not here to tell you what questions, we will divulge all information completely honestly and professionally if you ask them And they will provide all documentation for you to review.
00:37:43: But If You Don't Know What To Pay Attention To And You Don'T Know What Questions To Ask Getting angry at the agent Is Pointless.
00:37:50: It's Not Their Job To Teach You Everything About The Market Or Tell Your Race Red Flags.
00:37:57: Help you purchase the property that you want to purchase legally and smoothly.
00:38:02: They can help your research properties if you give them criteria, but they're not gonna.
00:38:05: Help you Prioritize one property over another.
00:38:08: raise red flags.
00:38:10: some of the more internationally savvy ones will try To do that through a certain degree.
00:38:14: there's still Japanese and this will avoid conflict.
00:38:16: so then I'm going to be Aggressively pointing out stuff.
00:38:20: But basically it's not their job.
00:38:21: So If you don't know what questions to ask than we wouldn't know maintenance expenses start piling up for wooden structures at thirty four concrete structure that forty and those things.
00:38:33: That's kind of like what we are there for.
00:38:36: if you don't have the experience or then know how, Then aside from the fact that we bridge a cultural in language gap We also provide you with the expertise And were not shy to tell people If we think they're making a bad purchase.
00:38:48: some will get angry because we told them too much.
00:38:50: but we're Not trying.
00:38:51: say it
00:38:52: all right.
00:38:54: And what you mentioned that it's not their job to educate, too.
00:38:57: I have noticed also with accounting firms here as a company owner... Well, they're very.
00:39:05: They are there to basically help you do your taxes legally and every smoothly in everything which is wonderful.
00:39:12: but if you want to ask them advice of how to basically reduce this or maybe increase that Or improve Your balance sheet?
00:39:22: They actually don't Do That If You Don't Ask Them The Right Questions Again.
00:39:27: I think that really goes for most.
00:39:32: Most Of Let's say the industry is here and services as well.
00:39:37: So they're not
00:39:42: one of the gripes that many people, to some extent have about Japan isn't it?
00:39:48: They are very good at following procedure but creativeness inventiveness innovation...not a huge thing.
00:39:59: That's a whole different topic that is not related to real estate.
00:40:01: We can talk about the education system and again conflict aversion, and then nail it sticks out.
00:40:06: but...that something thats not expected of professional in Japan There are some rare financial advisers that cost alot money or multinational accounting friends who are awareable that takes tricks from other countries And come apply them here in japan.
00:40:21: But its not your default accountant that will be filing taxes every month.
00:40:27: It applies obviously the real estate industry as well.
00:40:34: Which is indeed interesting and we can also just say that it's something based on specifics here, of the whole market as well.
00:40:47: And the way...the country things and the nation things and so on.
00:40:51: but okay!
00:40:52: So let me move on also.
00:40:55: I went through the newsletter that you published on LinkedIn.
00:40:58: i have to say that everybody who is listening or watching now if just go there and give it a read.
00:41:09: And decide whether to subscribe or not, but I immediately subscribed when i did because yeah... There is lots of very useful information in one of the publications.
00:41:24: as if you say that location in Japan isn't the same than other locations elsewhere.
00:41:32: What's the difference?
00:41:34: you know, what is behind the word location and the term location here?
00:41:40: Is it once again the assumptions we make that they're different or... I don't know.
00:41:45: Just
00:41:46: please!
00:41:46: It's more a case of being aware of the nuances of the market here which are very different A little bit more nuanced.
00:41:54: so Location has always been good rule in real estate And Japan.
00:41:58: no difference You want to buy property at right place.
00:42:01: The point is, what does that right place mean?
00:42:05: So again somebody coming from a country like the USA for example where everybody has a car and drives everywhere are not aware here public transport is so heavily ingrained into society.
00:42:22: A lot of people who interested in real estate here still know the automatic rule when you buy a property, it has to be within ten minutes walk through A station.
00:42:33: That's something that somebody coming from another country is assuming.
00:42:37: if I got a parking availability next to the property It might be good but vast majority of your tenants don't own a car so they don't care about this parking available If its family.
00:42:49: again different story Most of your single young couples, entry-level professional salarymen definitely low income shift workers.
00:42:58: They don't have a car probably will never have cars so that distance to station becomes huge.
00:43:05: and similarly people assume if they buy property in big city Japan it's okay.
00:43:12: but no not all cities are created equal not all suburbs within the city.
00:43:18: that will dictate your tenant base, the proximity to university.
00:43:24: In many countries student housing is a great industry you can get into here.
00:43:29: it's another strategy not necessarily as attractive in other country.
00:43:33: so again the nuances of every market and city are different.
00:43:38: Japan is very fragmented even within Tokyo officially now the cities but Even within Tokyo, every location is very different.
00:43:51: The fact that you have a property in the greater Tokyo area doesn't necessarily make it good investment.
00:43:56: Right!
00:43:57: I see...I remember when we lived in Sapporo and during winters they were long and snowy.
00:44:04: so basically we lived relatively close to the center but the building was old even though parking lot for all the apartments there.
00:44:18: basically it was quite inconvenient because It didn't have the road heating and once he started knowing I Had to shovel this know three times a day Because if i did that yeah, I wouldn't be able to get the car out.
00:44:36: Its not so much almost every day and while you know the properties, the newer buildings around there they had that road heating system.
00:44:48: And basically they never had to shovel.
00:44:51: so... Basically everyday for me I spent three hours of my days doing that which is a huge
00:44:59: amount of time.
00:45:00: It's yourself as a tenant who has a car but Stapolo probably worth a note on its own accord.
00:45:09: It's one of Japan's biggest cities and it is great place to invest in, but the fact that winter are so long and harsh in Hokkaido means you have to factor into your yield calculations right?
00:45:20: So if we happen get vacancy during the winter very likely there will be four or five months vacancy because nobody likes moving when it snows hard and you've got maintenance equipment, heating equipment that constantly breaks down.
00:45:34: And it's very expensive to replace which is not the case in warm climates.
00:45:38: so when we evaluate a deal in Sapporo We always like to aim for slightly higher yield than what other cities do because they know this will even out over time due to nature of that.
00:45:49: similar by the way in Nagoya or some other cities like Ita Kishu population is blue color.
00:45:58: It's still Japan, you're not going to have ghettos and crime labs and drug labs.
00:46:02: And so forth.
00:46:03: but You do occasionally Have somebody who can't pay the rent that has to move out Middle East or we have to reach an arrangement with them too To pay a little bit extra every month because they haven't paid for two three months.
00:46:14: So There are more issues there that make us aim for higher yields.
00:46:18: So Location also comes within nature of this city.
00:46:23: Population decline is something that you have look at when your aiming for it.
00:46:26: I mean Attractive secondary second tier third-tier cities in Japan where you could potentially get higher yield than a big city.
00:46:35: But you have to carefully watch the population trends, right?
00:46:39: Japan being Japan.
00:46:40: A lot of the smaller townships are Shrinking as people are conglomerating into the bigger metropolitan centers.
00:46:46: You have to aim for location that doesn't have a single employer or single factory your single industry That might move to another location and completely dry out your tenant base.
00:46:55: so Again, the nuances of every city and locations within this CD are important for holiday homes as well.
00:47:01: Even if it's not an investment If you're buying some somewhere that beautiful and scenic in the house look great but The bus only runs twice a day.
00:47:11: Not a single Engel English speaker in town.
00:47:13: when you need basic stuff like your how far is the?
00:47:18: Sometimes they don't even have convenience.
00:47:19: or how far at the supermarket Does anybody speak English at the hospital?
00:47:23: How far is the hospital, those are all things that you probably need to think about new answers.
00:47:27: Yeah right
00:47:30: I just a thought now because you mentioned that if your an english speaker or foreign language speaker You need somebody in that location for example To at least one person too to speak The language you do to help you In times of need.
00:47:46: so Do you see in the near future Let's say hubs of foreigners appearing in Japan like people who have decided to invest in certain rural areas and those areas develop as foreign hubs you know for people coming from overseas, to live there.
00:48:07: And like predominantly foreign communities?
00:48:10: do you see this happening?
00:48:13: To be current I would say that has been an increasing trend But our beloved current Prime Minister, Takaji-san seems hell bent on reversing that trend.
00:48:25: So a lot of people are now sitting their hands thinking whether they should be buying in Japan or not because we're obviously less welcomed here than up until last October and November.
00:48:37: so generally speaking yes it does happen.
00:48:40: when there's this steady welcoming influx of foreigners into the country Governments in other places like Australia take advantage of that, right?
00:48:50: You get an easier visa and you get some financial bonuses for settling in if you go to these places where they want you to rejuvenate the rural areas that are dying out.
00:49:00: So even when Japan behaves in that way... And again it's very fragmented.
00:49:06: so Even there was a national initiative.
00:49:12: help get rid of these abandoned homes, for example.
00:49:14: The Akiyas in the countryside are rotting away their eyesore.
00:49:17: they're unsafe They're depressing the economy.
00:49:20: we want to get rid them.
00:49:21: so you know...the national government declared a Akiya Bank initiative and they told every municipality that okay You now have set up an Akiyya bank repository where you'll be collecting information about all of this Abandoned properties in the country side.
00:49:39: do your best try sell them and, you know promote your house supplies.
00:49:45: And attractive things for people to move into your municipality and restore and renovate these houses or build new houses in their stead.
00:49:53: but Japan being Japan there's always a huge gap between the national policy on how it is going to be implemented.
00:49:58: nobody forces those local municipalities do that.
00:50:01: so some of then signed up for this task made an initiative of it did good job Not just foreigners, but sometimes hubs of domestic people who are interested in that area for whatever reason.
00:50:16: and COVID was a good way For them to capitalize on that.
00:50:18: For example when people wanted to move out the city for awhile But In other locations it's a case of oh we have to set up an acacia Bank or what another son you're in charge with that.
00:50:27: come back And nobody does anything beyond that right?
00:50:32: So there's a single Board agent.
00:50:35: did they relegate the job too?
00:50:36: some realtor works at area Who is not really that interested in its Not making much money on these properties?
00:50:42: and then the initiative just dies away And some places make it very difficult for foreigners to form that hub, right?
00:50:48: There are very insular communities in Japan.
00:50:51: That seem to be a lot more Leaning towards just dying out and fading away than allows scary foreigners to take over the city.
00:51:01: Right.
00:51:01: so It's very fragmented.
00:51:04: sometimes it happens when the environment allows it.
00:51:07: Sometimes if doesn't
00:51:09: Right.
00:51:09: Even though I do believe that, from talks i have listened to and being a part of it looks like they just are trying... was that to regulate all the influx of foreigners rather than chase away those who were here or not doing anything illegal?
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00:52:25: I've
00:52:26: been pushing back on that.
00:52:29: A lot of small business men who have done very hard work and doing beautiful things, whether it's for rural rejuvenation or cultural stuff like we were reading in the news last couple weeks people running Indian or Nepali restaurants here suddenly had to go home because What's the thirty million capital requirement?
00:52:55: Ninety percent, eighty-ninety percent of Japanese businesses don't have that.
00:52:59: So to ask a small struggling foreign business owner to suddenly come up with it and we're losing some good people here... People who were rejuvenating the countryside creating hospitality properties, farmstays artist retreats drawing people not only from Japan but all over the world witness the beauty of these rural areas, they're all drying up and going home.
00:53:22: They are not allowed to stay anymore.
00:53:23: so I don't agree with that at all actually.
00:53:26: Okay because...I also think we don't have to argue about this just i'm trying you know to clarify it even for myself.
00:53:34: but the purpose is a lazy blanket statement right
00:53:38: yeah But do you think?
00:53:41: Because as uh..i think What's that business visas, right?
00:53:50: It is not about permanent residence.
00:53:53: And of course once again I am saying it isn't good.
00:53:57: they are trying to push out people on business visas because as you say some those people really working very hard and have been contributing... ...to the local economies, local communities.
00:54:13: but i just think we need to make also that distinction not justifying what is happening with the business visa holders, but still permanent residents are not covered by this change in regulation.
00:54:34: At least at this point of time.
00:54:36: Yes they're talking about implementing other changes.
00:54:39: for example It used to be the case that if you lived in a country for certain number of years on legitimate visa or any other sort, then you could apply for permanent residency.
00:54:49: So people had course laid out in front them and they knew where were going.
00:54:53: They knew I would stay here as company employee If i got my own business Or if im married within ten years I will be able to apply for permanency.
00:55:04: Now they changed it.
00:55:06: so now if u haven't held a visa that has been granted for a period of five years at least.
00:55:13: So, for example if you are on one year or three-year renewable visa then you're not going to be able apply for permanency.
00:55:21: and how is that decided?
00:55:23: whether your gonna get one year ,or three or five years?
00:55:25: Well the immigration department decides but they don't really tell what criteria for this decision.
00:55:30: It's a very big black box within the immigration department that even Immigration lawyers are not aware of how that decision is made.
00:55:37: They make assumptions, but they don't have a clue.
00:55:40: so I've got again good hard-working people A couple Very good friends neighbors of ours one of them from Italy.
00:55:49: The other one is actually Brazilian But Nikkei So kind of returning Japanese citizen with Japanese ancestry from Brazil?
00:55:56: They'd been living here for i think three or maybe four years now Working hard paying hell of a lot of taxes employed by one of them as freelancer.
00:56:07: The other one is employed by an international company and working very hard, paying a lot Of taxes renting places putting money in the pocket of landlords thinking about getting their own home And suddenly it's a case.
00:56:20: so no we don't know if you're gonna get a permanent visa.
00:56:23: So they said oh hey well You know We were an International couple this weekend.
00:56:27: plan our life ahead here, then we'll plan it elsewhere where we do know that will be able to stay until we're elderly.
00:56:37: They are talking about introducing very harsh language requirements for permanent residency which I kind of agree with but again It's not backed up by national programs to help people reach that proficiency level similar the business manager visa.
00:56:55: if you Singapore and you're one of the most attractive entrepreneurship hubs in the world.
00:57:02: Sure, specify a thirty million yen capital because Japan is not exactly that.
00:57:08: entrepreneurs coming here need to struggle with so many things.
00:57:11: I mean just opening your bank account or finding somebody who will let you rent an office in japan Is very much about uphill battle.
00:57:19: So i don't think Japan quite and especially with rapidly aging population decline, the workforce shrinking in that pension funds just about to burst under burden of more elderly people.
00:57:33: I'm not sure Japan is in a position as selective on its immigration policies
00:57:40: Right.
00:57:41: Yeah, I mean like...I understand both arguments on both sides but the question once again is then how can they reconcile that or bridge those?
00:57:51: well basically?
00:57:52: Not
00:57:52: with lazy blanket statements!
00:57:58: It's difficult.
00:57:59: it's challenging.
00:58:00: its a lot of work.
00:58:01: But i think the proper way to do that fake businesses here.
00:58:09: And I understand that there are a lot of misbehaving foreigners, but the way to do it is not to kill a cockroach with a sledgehammer.
00:58:16: The Way To Do It and thereby breaking your own house in the process...the way you can lean back and surgically look at those applications and Japan knows how to review what's a fake business or whats not.
00:58:29: They do this on regular basis.
00:58:30: they should have been doing more than that.
00:58:34: who's living here legally and properly, and whose not.
00:58:38: It just takes a lot of work to sit through those cases that it is easier for you make the black statement And also gets your few votes along the way because population getting elderly or more conservative and its easy get elected.
00:58:50: when you say... When you point at bad foreigners right?
00:58:54: That true I mean populism is also getting stronger as well.
00:58:59: so unfortunately Sorry,
00:59:02: we're not talking about this.
00:59:04: That's true sorry!
00:59:06: No but it is also something that affects every industry in Japan and I believe it affects your industry as well.
00:59:12: so... And also uh wow i think that um..I also read on one of you newsletter publications on LinkedIn.
00:59:22: basically in japan you've got specific deal model.
00:59:27: That is something different once again, and I wanted when i read that.
00:59:32: Actually thought Hmm...I want to hear more from Ziv.
00:59:36: So if you don't mind talking a little bit about this
00:59:40: deal
00:59:41: model Yes an example of the deal in Japan so in the real estate industry.
00:59:48: So what is the deal here?
00:59:50: Like, What do you do?
00:59:52: Do You just shake hands and you're done?
00:59:56: it's obviously It's not the case right so
01:00:01: I'm Not sure which article your referring to but The way its done Here in some ways similar In Some ways a little bit different.
01:00:07: for example When you submit an offer on a property year And many countries That offer is a legal document, right?
01:00:16: And you're going to be paying a fine if he then back away from the offer.
01:00:20: All right here
01:00:20: that's not the case.
01:00:22: so A letter of intent or an offer to purchase Is not illegally binding documents.
01:00:28: It isn't professionally binding document meaning that once you've submitted The author and if you haven't written any specific conditions on it It's assumed that you will be proceeding with the deal.
01:00:39: and If you them for any reason that's not related to the seller, if you for your own reasons then back out of the deal and Then that relationship will be completely burned.
01:00:49: That agent will never work with you again.
01:00:52: If you were working with a buyer's agent than that listing agent Will Never Work With Your Buyer's Agent Again.
01:00:58: So You've Tarnished Their Reputation As Well And Frankly You Tarnish The Reputation Of Most Foreigners.
01:01:04: Because If That Particular Seller Has Not Worked With Foreigners In The Past Now they've immediately got in their mind the image of foreigners have tire kickers, we shouldn't even bother with them anymore because a Japanese person would not do that.
01:01:18: Structural inspections are usually part of any deal.
01:01:21: when you're buying a structure and Japan it's not the norm We recommend to our clients at least if there is properties let say thirty years or younger but In Japan this isn't the norm.
01:01:31: It sometimes surprises people who assume structural inspection part and parcel of every deal.
01:01:38: That's not always the case here, but aside from that... I'm not sure which article you're referring to?
01:01:44: Aside from those things it is fairly similar in how it works with other countries.
01:01:50: so once you've reviewed all documentation or done your due diligence on a property then your offer was accepted or negotiated and then accepted.
01:01:59: Then you sign the contract pay at ten percent deposit the lawyer drafts some ownership transfer documents, which you have signed and witnessed.
01:02:06: And then about a month after the contract that property gets transferred over to your next negotiation is maybe worth touching on because it's very common in other countries too lowball right?
01:02:19: So sellers are listing properties a lot higher than what they should be really worse Because there hoping that They can get more money for it and also their assuming people want do Some hard negotiations with them.
01:02:31: then somebody comes in and offers global offer, maybe half the price.
01:02:36: Maybe seventy-five percent of the listed price.
01:02:39: that's not really how the market works.
01:02:42: here is again another conflict oriented and haggling this considered conflicts.
01:02:46: so it's not a heavy negotiation oriented market barring you know super popular international hotspots like central Tokyo and Niseko.
01:02:58: but generally speaking unless the seller is living in La La Land maybe three bubble days and they think that can get you know, a couple of million that they paid back then which was not the case anymore.
01:03:08: But most cases their agent listing agents will advise them on what's reasonable market price They would set it up at may be ten percent over to allow for slight negotiation.
01:03:20: And if we come with offers that are more than ten Maybe fifteen percent If its vacant property thats been standing there awhile.
01:03:27: but anything beyond you want to be taken seriously and it's very likely that we're just going to be ghosted.
01:03:33: They are not gonna return our emails or calls anymore.
01:03:35: so take negotiation easy, It is not really the thing here
01:03:40: right.
01:03:42: okay?
01:03:43: no thank you for that because A lot of things that are different with some similarities to other markets as well.
01:03:53: And then my next question is, basically you're a partner and Chief Operations Officer I believe in Japan Trading International.
01:04:02: so do you do that for your clients?
01:04:08: Negotiations right quotation marks.
01:04:12: And also all the necessary due diligence and technical checks, inspections.
01:04:18: so basically if somebody comes to you they say well I want to invest in Japan where do start from?
01:04:26: Telling them!
01:04:28: Do your work for them then...I don't know
01:04:33: To answer first part of question.
01:04:36: Yes, we can work in one.
01:04:37: We or I Can Work In One Of Two Ways.
01:04:40: As A Company We Offer Full Purchase Facilitation Services.
01:04:43: So You Give Us Legal Authority To Act In Japan On Your behalf And Then We Will Be Talking to All of The Third Parties.
01:04:49: We'll Be Attending All the Meetings We'll be Signing All Documents.
01:04:51: We'Ll Be Receiving Your Funds From You In Bulk and Distributing Them Domestically Where They Need To Go Because International Transfers In Japan Are Still Thing Most People That You Work With You Don't Even Know Their Swift Code Or How To Receive let alone open a wise account.
01:05:07: So it's getting a little bit easier, but you still need some help with that.
01:05:11: and also you can't open the bank account as an non-resident.
01:05:13: so for management as well if you're not a resident we can hold your income here collect your rental income from the property manager pay your expenses on your behalf give you a statement once a year and then when the rates justify or whenever you need your income back home we remit...so we access your de facto bank accounts and manage the property managers, their innovation companies deal with a building management company insurance company all of these third parties in Japan that might be difficult for non-resident foreigner to work directly.
01:05:46: So we offer full purchase facilitation then full management.
01:05:50: I personally also do consulting separately so people who are able to work correctly with this third party is involved can hire me to come in and hold their hand, because again the real part of people that you're working with are not here to educate or strategize.
01:06:08: So I would be joining the conversation as they work directly with an agent, directly with a lawyer guiding due diligence telling them what to watch out for raise red flags review documents before they sign them.
01:06:20: just make sure they aren't making any costly mistakes.
01:06:24: That course is a lot cheaper than us doing everything on your behalf.
01:06:28: And to the second part of your question, how it would start is before all that we will first have a conversation especially if its an investor but also with holiday home shoppers.
01:06:38: just make sure you are aware what do really want buy and not having any preconceived assumptions might be correct here.
01:06:47: We wanna talk about rest of investment.
01:06:50: portfolio looks like already invested in anything else other countries or assets.
01:06:55: if it is a real estate investment or equity market investment, whatever you have.
01:07:00: What's the structure of your portfolio at the moment?
01:07:04: Is that more speculative and cash flow oriented?
01:07:08: And then we would probably advise on how to complement that with what ever you are buying in Japan which should be suitable for your investment needs.
01:07:17: Right Well I believe its really helpful because once again try to do anything here in Japan, you don't know how difficult it is and how important It Is To Have People Challenging.
01:07:35: On the one hand its very smooth.
01:07:36: again.
01:07:37: You Don't Need Look Over Your Shoulder And Watch Out For Dodgy Stuff Happening Like You Would In Some Other Countries But Its Very Procedural.
01:07:46: Yeah, sometimes I talk with colleagues that work in different... Colleagues.
01:07:50: when i say people who have their own businesses around their own companies and it's there is a phenomenon.
01:07:57: And not only me but them as well That foreign investors come to Japan you help them You do everything on your behalf They make it so smooth for them then they go home and oh!
01:08:12: Japan is easy to work with.
01:08:21: Yes.
01:08:21: I've been running the Japan Real Estate podcast for about nine years now and i think it's still probably the only audio source, so we have some people... It is very hard to interview success cases in other cases but we do occasionally have somebody who says.
01:08:42: You know, I've listened to your podcast.
01:08:45: I've been hearing all these things and you make it sound so easy.
01:08:48: And then i went and tried It on my own because i thought i'm gonna save a few bucks if i try it On my own.
01:08:52: but...it's not that easy isn't?
01:08:54: We'd be doing it for awhile.
01:08:55: we Know what the bridges are That we need to gap For you But um..on Your Own its reinventing The wheel!
01:09:02: You're learning everything from skirt one.
01:09:04: It is a different marketing.
01:09:08: Well, every industry basically that you try to penetrate here in Japan.
01:09:14: it's really different but yes okay.
01:09:17: so thank you very much for making time to be on the podcast.
01:09:20: I appreciate your sharing all these insights and knowledge because Of course, it is something that you have earned through experience.
01:09:30: Through working here for such a long time and It's Something That Many People Don't Have The Majority of people don't have.
01:09:37: so thank You very much For Doing That.
01:09:39: And So To Everybody Watching If You Haven'T Connected With Ziv Please Do Connect with Him On LinkedIn!
01:09:47: You Can Connect And Then Also Watch Or Listen to His Podcast if Your Interested In Investing Here.
01:09:56: You are in safe hands with Ziv, so don't do not hesitate to talk.
01:10:03: Yes and I'm actually very much looking forward to the second episode we're going to have with you Ziv.
01:10:09: So two people interested in this topic please stay tuned.
01:10:15: And well... The next episode will be announced Well.. In the next couple of weeks.
01:10:22: Thank you very much indeed, and as if I hope that You have a productive day.
01:10:27: And to everybody who has watched us again enjoy the day Let's say that The rest of the week will be good for you As well!
01:10:35: And i'm looking forward To seeing all together once Again here.
01:10:39: Thanks A lot!
01:10:57: So there you have it, huge thanks again to Maya and the Japan Expert Insights crew for having me on.
01:11:01: Thoroughly enjoyed this conversation as well as our second one.
01:11:04: we will link of course to their podcast & YouTube channel in these episode show notes And we'll be publishing The Second Conversation In a few weeks time.
01:11:12: so watch this space.
01:11:13: subscribe if you haven't yet.
01:11:15: Now, we can't let you go without telling me about MailMate.
01:11:18: Our sponsors and business partners.
01:11:19: they offer peace of mind for your property in Japan.
01:11:22: They'll make sure that your taxes to utility bills are all paid on time liais with your management company For you or assist with your parcel delivery while you're out-of-town.
01:11:31: get in touch With them on mailmate dot JP.
01:11:35: today I mentioned the japan real estate podcast.
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