00:00:00: Like everything in Japan, there's a lot more nuances and cultural expectations that they don't have with the foreign clientele.

00:00:08: They actually find quite refreshing so... ...they don't need to dress as tightly.

00:00:15: not everything is expected for levels of manners attached to every transaction.

00:00:22: you're not expecting immediately return a phone call or foreign clients, maybe because they're not using the phone as much but also because of time difference are a lot more comfortable communicating via email or messaging so you don't have to constantly be with your finger on the pulse answer the phone late at night like you do with Japanese client.

00:00:43: So it's different type of clientele.

00:00:46: there is other stuff that various types of clientel expect than others.

00:01:06: Either folks and welcome or welcome back to Nippon Trading International's Japan Real Estate Podcast.

00:01:11: I'm your host, Ziv Nakajima again And this podcast is brought you among others by Emil Gorgies of realestate.jp.

00:01:19: He's a Tokyo real estate agent who specializes in serving international or mixed nationality families Who are looking for the perfect family home.

00:01:27: So, Emile is an Australian.

00:01:28: 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.

00:01:42: so he got dedicated loan officers.. ..and many Japanese megabanks And if you're a regular listener of the podcast, You probably already know him from our JREP.

00:01:51: 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.

00:02:07: 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.

00:02:15: so If u've been thinking about buying your home in Tokyo, but you've been sitting on the fence

00:02:19: for a while or

00:02:33: Yes, right before we get into it.

00:02:34: The autumn session of the Japan Real Estate Summit as mentioned is locked in for seventeen.

00:02:39: eighteenth october saturday sunday at the tokyo international forum and We will have those early bird forms ready for you To fill-in very soon if you want to grab your discounted tickets But time to start making your travel arrangements

00:02:53: If You haven't yet.

00:02:54: We'll also have the final list of speakers ready for you very soon, but you already know what to expect.

00:02:58: Definitely most if not all of your familiar and favorite crowd pleasers plus hopefully a few extra new ones... The absolute best in English language expertise on every aspect of Japan's real estate property market at the industry is biggest event!

00:03:13: So mark your calendars.

00:03:15: book those flights.

00:03:16: they're cheaper in advance as our hotels and airbnbs And we will see you all then.

00:03:22: so For todays episode Tons of excellent info for you, especially if you haven't yet purchased here in Japan but also for old hands.

00:03:29: It's a pretty long episode But I think you'll enjoy it a lot.

00:03:33: This is part two Of the conversation that i've had recently with Maya Matsuoka of japan expert insights A consulting firm That specializes In Japanese business culture cross-cultural management leadership Customer experience and business strategy Here in Japan.

00:03:48: And speaking of old hands, she's definitely one the OGs when it comes to cross-cultural business training and leadership.

00:03:55: It is always a pleasure an honor to speak with her!

00:03:58: In our first conversation which we will link in this episode show notes... We talked about basics here.

00:04:04: what are some things that make different for others around the world?

00:04:08: We briefly touched on asset classes, do's & don'ts, business environment common practices.. What buyers should be aware before pulling trigger.

00:04:17: And in this conversation that you're about to listen now, we dig even deeper into these topics and unpack them more.

00:04:25: We talk how foreign buyers are different from domestic buyers... ...how local professionals deal with the differences here… How we at NTI get traditional sellers and their agents to agree to deal with foreigners in first place.. ..and part of our job is educate foreign buyers on Japanese cultural nuances.

00:04:44: And speaking of our buyers, what some of those typical buyer profiles are how those have changed over the years as the market and the buyers pool both matured.

00:04:55: How The new business manager visa requirements might've change these buyer profiles As well which then led us to address a question whether it's even possible To utilize property investment for residency in Japan?

00:05:10: We talk about some of the misconceptions and assumptions that many folks have when they're purchasing here for the first time, one of them being a clear distinction between holiday homes' investment properties.

00:05:25: When do Holiday Homes qualify as profitable investments?

00:05:28: If they ever do!

00:05:30: We discuss international fascination with Akiyas – The myth of free houses in Japan.

00:05:35: is it real?

00:05:35: what does it actually entail?

00:05:38: We discuss speculation as an investment strategy, current market trends the switch from prefectural and city population trends to more granular warden inner-city trends.

00:05:50: Urban rejuvenation gentrification how these affect property prices and popularity of various locations.

00:05:56: we talk cash flow versus potential growth considerations in How this might effect your portfolio.

00:06:01: structuring various property profiles, investment strategies and who might each of these be suitable for.

00:06:07: We discussed the art in science of successfully investing in hospitality or short-term stay properties.

00:06:13: another alternative asset classes sourcing replacing working with property managers who specialize in this.

00:06:19: various types of tenancy leases.

00:06:21: we talk about buying old versus new.

00:06:23: what are the sweet spots?

00:06:24: were various types assets.

00:06:26: how building materials can and should affect your investment strategy, in why small multi-unit building is often the best of all worlds.

00:06:36: We also break down some of the confusing terms that are relating to various types of condo and apartment building assets as well as how owner unions and building management companies work.

00:06:46: we talk about buffers and reserves that are required when you own the entire structure As opposed a condo unit?

00:06:51: We talked investor risk appetite and global portfolio structuring.

00:06:55: The importance clear investment goals, expectations and long-term budget allocations well ahead of any purchase.

00:07:03: What counterintuitive market quirks the first time investors should be aware of in the importance of being open to learning new things when you're entering a new market for.

00:07:17: And finally, what's the biggest surprise that most people face when they're buying here for the first time?

00:07:32: So yeah talk about deep dives.

00:07:33: This is probably the mother of them all.

00:07:36: lean back grab yourself a drink and some snacks.

00:07:39: enjoy The Journey.

00:07:40: I shall see you again on the other side.

00:07:51: And good morning to everybody watching us, and to everyone who will be watching later today or this week.

00:08:01: Once again I'm very pleased to welcome Ziv!

00:08:05: Sorry i always mistake the name... Ziv Nakajima again, because he was here last month actually and we couldn't finish the conversation about real estate in Japan.

00:08:18: About myths mistakes and market realities... Because there is so much information to share.

00:08:25: grateful to you for willing, being willing to share that information with us.

00:08:30: With our audiences and everybody else who is new to the podcast as well.

00:08:35: thanks a lot for coming this morning.

00:08:37: I know that you're busy!

00:08:38: And once again welcome!

00:08:41: Oh my pleasure.

00:08:42: thanks for having me on.

00:08:44: i loved our conversation last time so it's fun to be back.

00:08:48: Yeah, I loved it too and that's why.

00:08:52: So could you please just once again for the newcomers here let us know a little bit about your story in Japan?

00:09:01: And then we'll move to into the topic.

00:09:05: Sure so i was born and bred in Israel kind of ran away from israel In my late twenties migrated to australia lived there for about ten years so dual citizenship now.

00:09:16: And then about fifteen years ago I moved to Japan with my partner, started up Nippon Trading International, which is a company that helps people buy sell and manage any kind of real estate in Japan.

00:09:29: A hundred percent foreigners whether they're expats or living in Japan for various reasons.

00:09:34: They might need our help as well and four years ago started another company.

00:09:39: Just by feedback and client request, people wanting to invest in other things.

00:09:43: People want you to relocate Japan.

00:09:45: so that's what the company does business M&A and their relocation to Japan.

00:09:49: I'm also just started a e-commerce business importing fashion products And selling them online in Japan but thats completely unrelated to anything we're discussing here.

00:09:59: Congratulations on that, too.

00:10:00: And I would love to hear your insights and experiences with the new business there because it seems quite a few people have such ideas in mind.

00:10:10: they want to relocate to Japan as you know... ...and thinking about what can be done right?

00:10:16: But this is another topic of conversation.

00:10:21: so today we are going talk what you do in real estate and the business here.

00:10:27: So, we mentioned that you work with non-Japanese expatriates and residents predominantly or one hundred percent.

00:10:36: so I wonder whether you can compare... The level of difficulty doing it as compared to working with local people Japanese residents let's say

00:10:52: only based on what our partners and colleagues who are serving Japanese clientele tell us because we obviously don't have any of these clients.

00:11:02: I think technically foreigners of the hassle, more Mendoxai because we tend to ask for questions.

00:11:11: We asked for inspections.

00:11:14: there's a lot of stuff that we don't know when we're purchasing here for the first time.

00:11:18: it could be quite different what were used overseas.

00:11:20: so... There is very high level education and added friction related just being bit more detail oriented in a bit less cluey or educated about how Japanese market works.

00:11:35: From what I hear from my Japanese real estate agent and professional partners who are working with local Japanese, it's like everything in Japan.

00:11:50: There is a lot more nuances of cultural... expectations that they don't have with a foreign clientele, which actually quite, pardon me.

00:11:59: They find it quite refreshing.

00:12:01: so... ...they do not have to dress as tightly and everything is expected to have four levels of manners attached.

00:12:08: every transaction you are not expecting immediately return the phone call or foreign clients maybe because they're not using their phones much but also due time difference are a lot more comfortable communicating via email or messaging so you don't have to constantly be with your finger on the pulse, answer the phone late at night like you do with Japanese clients.

00:12:32: So it's different type of clientele.

00:12:35: there is other stuff that various types of clientel expect than others don't

00:12:41: I see?

00:12:42: and thats interesting because basically its seeing let say business from another perspective.

00:12:49: usually people coming here and they communicate.

00:12:54: They want to do business with Japanese companies, so they have to be kind of educated right?

00:12:59: And trained on Japanese manners... What can say what their expectations could be.

00:13:05: but now if you are seeing all that paradigm let's see from the opposite direction where in a sense it is little bit easier than this.

00:13:14: In a sense its much harder when let's say manage the cultural expectations as well, I mean and so on.

00:13:22: But yeah...

00:13:24: We work with agents who are more open to working with foreigners.

00:13:32: So there is less of what you would have like.

00:13:34: for example if somebody enters here With my other company that helps people For example M&A in existing Japanese business Somebody will come in here And they'd had to again Like normally behave correctly to get a Japanese partner, to agree with you.

00:13:49: To consider working for the foreign company or an individual whereas the agents that we work with are already... and there's been more of them over the years.

00:13:58: Japan is definitely changing in this regard.

00:14:00: they're much more open to working with foreigners so their'e lot more forgiving but still have a seller who is traditional japanese and listing agent got permission from the seller to list a property, and they're a lot more traditional.

00:14:14: So we or the agents that we work with on the foreigner side still have to go through the convincing but because we are Japanese company in the buyer-side agent's that we worked with also a more traditional Japanese company it is easier.

00:14:34: We know, like Cikako my partner over the years has perfected her pitch in a sense that you don't worry.

00:14:41: You won't have to speak English or Don't Worry will we'll deal with everything below always be able to talk to me?

00:14:46: You all had talked of the scary foreigner on the other end and don't worried I'm gonna share your commission without.

00:14:51: so when already preempt their hesitations And we try to answer them from there.

00:14:56: initial introduction

00:14:58: Right, yes.

00:14:59: And that comes from experience I'm sure.

00:15:02: as you said You do the pitch and eventually perfect it gradually with time.

00:15:09: So we've

00:15:10: been rejected so many times in first few years.

00:15:13: Sorry go ahead.

00:15:14: No no please tell us because let's say many foreign buyers don't realize how difficult is for people like you to establish those connections.

00:15:27: the sellers here as well?

00:15:30: The sellers and their agents, yeah.

00:15:33: There are obviously very hundreds of thousands small local real estate agencies in particularly smaller locations.

00:15:40: but there is some big real estate companies with presence nationwide that handle a lot on market in bigger cities.

00:15:49: we really have to maintain those relationships because if for any reason I don't want to call it blacklisted.

00:15:55: It's nothing as official as that, but if there is a perception of us representing rude or tire-kicking or unprofessional foreign buyers then those companies and bigger sellers who have a lot properties in the cell will not work with us.

00:16:11: so this something we had to explain for our clients.

00:16:15: they're used to situation where The buyer is king and the real estate agents will flip over backwards to make sure that a deal happens, they're very hungry.

00:16:28: They run around making sure trying to please the buyer not the case here.

00:16:33: so we have to do heavy lifting in convince buyers or sellers with foreign buyers.

00:16:41: those relationships must be maintained.

00:16:43: We can't just submit offers then cancel them for no reason you know, submit a bunch of inquiries and then ghost them and disappear because we're actually focusing on another property now.

00:16:52: We do any of that than were not gonna be able to work with the company or with that seller again

00:16:57: right?

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00:17:49: Right yes And We have seen shifts as well in let's say The people who want to relocate To Japan.

00:17:58: the numbers are increasing I believe and i don't Know whether the latest regulations Well Let's Say the change in Regulations has had any impact on those numbers, but still my question is not so much about the number.

00:18:14: Have you seen any change in the profile of people who want to relocate or who wants to buy property in Japan?

00:18:24: Well buying property in japan doesn't automatically enable you or leverage your residency quest right!

00:18:31: So you're NOT going to be able to buy a property and by virtue of owning a property then get residency in Japan.

00:18:37: it doesnt work like that here.

00:18:40: We have had a lot of people before the latest revamp on immigration policy for business manager Visa.

00:18:49: A lot were setting up tiny cafes or buying small Akia and turning it into Airbnb because threshold was quite low, about five million yen plus potentially maybe one staffer but you didn't have to.

00:19:03: That's all changed now, so we do get more serious people in the sense of business investors.

00:19:08: People who are starting a business or purchasing a business to run Japan are a bit more structured than what they want.

00:19:15: They have a stricter business plan and larger capital And they know very well What you're going to do?

00:19:21: They got it mapped out because those are new regulations But the people who want to relocate to Japan are still the people that want to relocate.

00:19:29: So anyone was not investing in a business, somebody is looking for employment or someone moving here with their family on various types of visas and needs support from them because they're familiar with language or unknowns.

00:19:41: but those were all the same people

00:19:44: Right I see And it's an important point once again you mentioned this Being a property owner here does not add any points to your application for residency, right?

00:19:57: So because some people may have that misunderstanding I believe but... That's actually not the case in Japan.

00:20:05: Well!

00:20:06: For THAT TO BE A PATH it has to be much larger investment.

00:20:10: so... The minimum cap now is thirty million yen of capital to be invested into your business.

00:20:17: It doesn't have to immediately invest.

00:20:19: at the end of the first year when it's time to renew The Business Manager Visa, the immigration department will look At what you're doing with that capital and they'll want To see That You are investing at least parts Of It Towards Expanding The business or Getting The Business On Its Feet.

00:20:36: You Can Do This With Property So You Could Buy A Small Building Or A Larger Portfolio Of Condo Units Or Houses For Thirty Million And Over But Unless you have to tweak the investment.

00:20:49: So if we look, for example at a typical long-term residential lease semi passive investor which is most of our clients who just have a tenant in there on a two year rolling lease and constantly renewing those leases Those kinds of properties will generate If they're lucky maybe six percent usually more like five percent before tax.

00:21:10: so even if they were investing let's say Ichiyoku Five percent of that would be Ichiyoku being, I think at the moment about seven hundred and fifty thousand US maybe a little bit less.

00:21:23: Right yeah... That's what i was calculating!

00:21:25: Yeah so

00:21:30: those people will

00:21:31: be getting let say conservatively or practically speaking about five percent return?

00:21:36: That is about five million yen per year.

00:21:38: right go ahead mine which If you're a family of three, the immigration department doesn't deem that sort-of income sufficient to sustain a family.

00:21:50: Right?

00:21:50: So if it's yourself and two dependents or four... You have two kids.

00:21:54: so three dependents.

00:21:56: That sort of salary that the company set up will be paying yourselves is not going to be sufficient for sustaining families.

00:22:03: five percent on a seven hundred plus, even though it satisfies the initial requirements for setting up business doesn't satisfy the requirements to constantly renew.

00:22:12: So real estate which is relatively safe and stable but low yield kind of investment is not really that best path towards residency.

00:22:21: here if you turn into hospitality property in its run like very smooth well oiled machine starts becoming a conversation.

00:22:33: But again, most of our clients who are investing in real estate prefer to be more passive about it so they're happier with the lower yield but the more safe and stable and hassle-free kind of major investment

00:22:45: Right.

00:22:46: So I gather that there different kinds of investments when we talk about the real estate industry.

00:22:54: And then what constitutes an investment?

00:22:58: Obviously buying at home is not really An investor or is it and then

00:23:03: other countries?

00:23:04: It's considered as such And we have a lot of people coming in Talking about purchasing your holiday home, and we're constantly referring to it as an investment.

00:23:13: So one of the first conversations that we had with them.

00:23:15: Is Let's just set the record straight that in Japan The property is not guaranteed to gain in value.

00:23:23: In fact if you're purchasing get out on the countryside its almost guaranteed to decline in value.

00:23:29: declining population, the structures depreciate very quickly from a tax perspective.

00:23:34: The land is the only thing that could gain in value and in bigger cities it does.

00:23:38: but if you're buying your holiday home you are definitely not buying an investment unless its super central location which would make it very expensive.

00:23:46: so while overseas...the assumption is that real estate always gains in value over time although I wouldn't probably push back on that in many countries around the world.

00:23:57: It hasn't been a case depending on location and type of property, but first of all if you're buying your holiday home then it's not an investment to qualify as an investment.

00:24:06: from our perspective In Japan's financial environment economic environment I would want the property to be generating income On a monthly or annual basis.

00:24:17: I see well And you mentioned one of those ways.

00:24:19: turning into What did you... I think just

00:24:24: a hospitality property.

00:24:26: A hospitality property, yes thank you!

00:24:29: So it could be a ryokan ,it could be hotel or an onsen for example open to the public.

00:24:35: It would anything i believe.

00:24:38: Yes but if its holiday home that your going to use throughout year depends how often and during what seasons are using a house in Kyoto, for example that could potentially do very well on the hospitality from through a hospitality lens.

00:24:54: If you're using it throughout every Sakura season and every red leaf season And if doing this four months out of year then maybe covering costs when not really going to be generating much income are

00:25:12: ya?

00:25:13: Yeah I guess thats the case.

00:25:15: well, quite maybe most of the properties here anyway.

00:25:19: And then I also have a question to you when it comes to buyers now and i don't want to sound discriminative or whatever but as buyer profile.

00:25:31: so do you see younger people wanting to invest in Japan nowadays?

00:25:36: Or is age higher?

00:25:39: So how do you describe

00:25:45: For investment, so

00:25:47: straight-out

00:25:48: investment

00:25:48: purposes again putting

00:25:49: holiday homes in such a site?

00:25:51: people who are just looking to invest their money here and generate an income of or profit of any kind?

00:25:58: We do see more youngsters over the year.

00:26:00: I think particularly with With tech and crypto and blockchain technologies there are younger people with more capital on their hands.

00:26:10: But they tend to be young professionals, right?

00:26:14: Your typical sixteen or twenty year old is usually not somebody who's going to have the capital to purchase here.

00:26:21: Japan isn't cheaper country than most especially if you're out of big cities but still entry-level reasonable unless your buying a shack in the woods.

00:26:29: Entry level reasonable kind properties are starting at around thirty forty fifty thousand US.

00:26:35: So those have to be, when they're young.

00:26:36: They are professionals.

00:26:37: the majority of them are more mature.

00:26:40: so there'd people in their at least late thirties all the way up to early seventies I would say who already if not savvy investors atleast done homework and know what that getting into or like us educate on get it.

00:26:56: but they had a financial sense about.

00:26:58: Right, I see.

00:27:01: The dreamers are out there at all ages.

00:27:04: we got people as young as eighteen-twenty who were looking for that shack in the woods kind of situation.

00:27:11: they read articles about free Akia's on the countryside and happy to come here.

00:27:16: try get something from a thousand to five thousand bucks if you can't usually send them away.

00:27:21: but

00:27:24: Yeah, I was going to ask you because maybe it continues to be such a big topic online.

00:27:31: The Japanese Akia and of course there were rumors that some of them are given free or others were just very, very cheap like as you mentioned five thousand dollars or ten thousand dollars.

00:27:44: But it's not a complete myth.

00:27:45: they are given free but usually if they're giving free to somebody who is the resident of Japan and relocating with their family into a countryside town that needs young blood kind-of thing.

00:27:59: so... Not for foreign people coming in without residency to buy a holiday home.

00:28:02: They can't get anything for free properties, but they're essentially buying into headaches.

00:28:11: So if you are somebody who is very good with your hands and comfortable living out in the boonies where you will have zero infrastructure or access to any convenience And do want just buy a plot of land with maybe run down shack on it and spend next five years lovingly restoring it.

00:28:33: Yes, they're out there but a comfortable living it's not.

00:28:38: Right and well I believe also that this kind of determines once again the age bracket Of people who really get such properties because after certain ages People do prefer to have certain conveniences And also infrastructure.

00:28:59: Especially here in Japan everybody is very health aware.

00:29:02: people want to have hospitals nearby or clinics and so on, I can see.

00:29:09: The market

00:29:09: will be a good start!

00:29:11: Supermarkets too.

00:29:12: yes they cannot grow all your foods even though you can grow some of it i'm sure but not... We do.

00:29:18: we do have some customers are very small subset over customers who are exactly looking for that no?

00:29:23: They don't wanna be off the grid.

00:29:26: We have people, again not many of them but we do have people who buy land plots in very remote locations that they think had potential to become a hotspot sometime in the future.

00:29:35: And then they just buy a land plot and sit on it hoping for potential.

00:29:39: you know... For the world to discover that little town Not too far from the ski slopes that no one's ever heard about yet.

00:29:46: So They are out there But they're not the majority of our customers now.

00:29:50: Right, and I still wonder is that a good strategy?

00:29:53: You buy something in the place which you hope The world will discover at some point in the future because we know that business does not rest on hopes.

00:30:04: Yeah but speculation

00:30:05: is a thing

00:30:06: right.

00:30:06: so i mean for example when We started our business.

00:30:10: We are based here in Fukuoka city.

00:30:12: When we started fifteen years ago We saw some slight indications That made us think this place would be would become known or go on the map, so to speak.

00:30:24: And because you know population trends were the reverse of what's happening in the rest of Japan.

00:30:29: people

00:30:29: are actually

00:30:30: having babies here.

00:30:32: salaries we're slightly edging upwards which again was not very much Not The Case In Other Parts Of Japan and this Was Back In Abba Times.

00:30:40: Yeah Right After The Twenty Eleven Tsunami And Subsequent Fukushima Disaster.

00:30:46: So That bet worked out.

00:30:48: People who invested in Kumamoto, where TSMC then established a very large factory these days.

00:30:54: people who invested In some of the ski towns in Nagano that were completely unknown.

00:31:00: You know even up to ten eight-ten years ago Those bets worked out.

00:31:05: so I suppose from a specula...I'm not a speculative investor by any means.

00:31:09: i'm way too geeky for that.

00:31:11: I prefer something thats well documented and doesn't need Any hope.

00:31:15: but The people who speculate similar to the people who invest in unicorn startups, right?

00:31:21: They spread their investments.

00:31:22: They spread smaller amounts and if even one of those turns out well then they've done what came up... What do you say about it?

00:31:28: Right!

00:31:30: No that's a fair comparison I believe.

00:31:33: And still when you mentioned that you chose Foucault because there were certain signs the city and area going up, then I can understand that because you based your choice on analysis.

00:31:50: It was an analysis with a very large portion of hope in there.

00:31:55: Because when you invest in Japan, Japan is facing some severe macroeconomic headwinds population decline, the percentage of GDP to...the percentage of debt to GDP which is second only to the USA I think.

00:32:14: And and the fact that the changes come very slowly here because again of the traditional insulated nature of the country any kind of bets on Japan's future economy or growth are very much from my perspective even as somebody who does business they're a very much speculation.

00:32:33: They are indeed,

00:32:35: yeah.

00:32:35: I can try to find locations within Japan that i think will do well if Japan's economy overall does well but whether that'll happen or not is always a bit of a gamble.

00:32:47: Right right now That's an interesting topic To talk about and

00:32:54: Yen loans are a sponsor of the Japan Real Estate Podcast.

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00:33:45: Okay?

00:33:46: Because how the economy currently facing those headlines and the nation as a whole, of course.

00:33:55: The demographic challenges in everything... So how would you describe the market?

00:34:00: The real estate market is Japan right now And maybe there are one or two scenarios that can be imagined depending on where the economy goes.

00:34:14: I'm talking from perspective investing in the real estate markets.

00:34:23: I would say that for the next few decades at least, i try not to project anything beyond that because anything could happen right?

00:34:29: The World War three aliens AI robots killing us all.

00:34:32: Anything...anything could happen.

00:34:33: but looking forward a decade or three let's say at the most and if Japan doesn't do anything drastic too combat that declining population trend I would say that the smaller townships will keep conglomerating into bigger cities.

00:34:51: And within the bigger cities, internal migration is going towards central suburbs.

00:34:58: so there are very distant suburbs in any big city and we'll soon experience similar dynamics to what the smaller villages or townships have experienced.

00:35:08: meaning Covid did give us a little bit of pause when people wanted you know, companies did want to relocate a little bit away from the city centers.

00:35:18: They set up satellite offices as opposed one big headquarters in center of the City.

00:35:23: but that's kind-of gone.

00:35:26: and now we're seeing movement again towards central suburbs every big city.

00:35:31: so I think those locations... So if up until let say five seven years ago We were looking at which cities are gaining population These days almost all prefectures are no longer gaining in population and what we're looking at now is which words within the cities, other ones that are becoming more popular.

00:35:53: When it comes to a city that still has room to grow for example Fukuoka City is just geographically In such a position that um To the east west and south north We got the ocean but East West and South And we've got long stretches of train line That just goes across houses and fields.

00:36:13: So as the central wards become more popular, we do have room for urban rejuvenation projects on the next station down the line kind of thing which you're seeing now.

00:36:23: Each city has its own story.

00:36:25: each city has it's own dynamics.

00:36:26: at the moment The words are not a unified picture.

00:36:30: Tokyo especially is very all over the place.

00:36:33: It's a very fragmented market there some central words or towns within Tokyo, the various municipalities in Tokyo that are more central but less popular and others that are suburban.

00:36:49: The picture is becoming a bit granular as the population trend continues to play

00:36:53: out.

00:36:54: Yeah, speaking of Tokyo you know I was really surprised like two years ago.

00:36:59: I haven't been to Odaiba for a while but as You mentioned so there is the dynamic there.

00:37:06: and When i came to japan in?

00:37:10: So odaiba was such a vibrant place To be right and to visit.

00:37:14: because um i guess it Was still new.

00:37:16: i don't no i dont remember when when it was built But I guess it was built more than maybe four to fifty years ago.

00:37:24: But back then in two thousand and one, right?

00:37:27: It was very vibrant!

00:37:28: It was a very crowded on holidays or weekends even during the week.

00:37:34: And just two years ago when i went there with my friend The city is so quiet There were many people.

00:37:45: It's really fascinating because that city which was so popular suddenly became a quiet one and then the crowds, obviously next generation of Tokyos moved to other places.

00:37:59: They prefered to enjoy other areas in Tokyo now.

00:38:03: And I thought how short lived popularity can be even for locations right?

00:38:13: So, I think in what you said at the beginning.

00:38:18: At end of day it's still a gamble but... You can gamble with higher level of certainty right?

00:38:27: Of positive results if you really have or analyze the situation.

00:38:33: and yes

00:38:35: always.

00:38:36: from my perspective The monthly paycheck is the main indicator.

00:38:41: I'm not going to be personally, well again we have clients who do different things but personally i would not be investing in a property that doesn't generate a stable reliable monthly income and I can settle for a slightly lower yield in exchange for something that I think has potential growth.

00:38:57: But if the monthly paycheck the rental yield is not there...I don't tend to invest personally because any kind of growth or non-growth potential capital expansion can be icing on the cake, but it needs to be based in fundamentals which means monthly paycheck.

00:39:16: So even if that location doesn't do so well in five years time I've still gained five years of nice rental profits and then i can off sell the property at a slightly lower price...I'm still well in the green!

00:39:30: Right okay and speaking of which..i also wonder what kind a good project to invest into, because you mentioned already the hospitality infrastructure for example.

00:39:48: But what else?

00:39:50: Because it couldn't be only hospitality right there I believe other opportunities here in Japan.

00:39:59: From real estate perspective if your going running property yourself then your basic long-term lease residential or commercial is your best bet because you're having a tenant in place.

00:40:13: You have somebody serving them, there's property manager but it's really matter of collecting the rent handling any maintenance complaints which are rare with Japanese tenants and even when they move out for placing within new tenant set and forget again for number years.

00:40:29: if you personally have experience with anything else, then you could definitely look into hospitality properties.

00:40:39: But then you'll have to be a lot more hands-on.

00:40:44: so working with the Short and Stay Hospitality Property Manager but know how to judge their work, constantly looking together at what the competition is doing.

00:40:54: occupancy rates.

00:40:56: there are experts in this field who manuals upon manuals of how to fine-tune and tweak a hospitality property.

00:41:05: If you want get into anything that's more industry specific like aged care facilities, data center facilities logistics facilities.

00:41:16: those again are all out there but need know what your doing because going be working with operators Again, assuming you're not here yourself and setting up a project with your expertise on your own.

00:41:29: You going to be working with operators then need know how to judge their performance?

00:41:32: Need to know push-and-prod them when they are doing the best job or replace another operator.

00:41:39: that all takes expertise.

00:41:41: so if don't have it I would stick in long term residential market where you have tenant renting out place I

00:41:51: see.

00:41:51: So that's a rather complicated process, isn't it?

00:41:56: And all those basically finding the people who can understand how to do all of things... The

00:42:05: more creative stuff with alternative

00:42:07: investments!

00:42:08: Yes definitely out there like we regularly have people contacting us and saying hey i want to have a share house near university.

00:42:15: Share house property managers are rare and far between.

00:42:18: we have to find the good ones in each particular location if they exist.

00:42:21: We have to learn how to work with them And we have To have somebody to replace him whether they don't do a good job.

00:42:26: So from our perspective it takes a lot of research, and then even when trouble arises.

00:42:32: We have much more limited pool Of professionals too to yield two when we need to get something done.

00:42:37: so The more creative you get I'd say the higher-the-risk factor, but also the higher potential rewards.

00:42:44: We're happy to accommodate any request But we are not experts in industry and have to work with professionals And research.

00:42:50: who those professionals Are?

00:42:55: I also wanted to ask you another question because we touched upon Akiah, but now that there are a lot of other properties not newly built.

00:43:06: So what do people invest in and also recommend them?

00:43:16: New buildings or new infrastructure has already been there for awhile

00:43:27: Again, from a return on investment in ROI and yield perspective.

00:43:32: The sweet spot for concrete building.

00:43:35: so if you're buying an entire concrete building If you have the budget or a condo unit In a concrete building we would say that the sweet spot For yield without getting too much of a hassle And losing value to quickly is somewhere between twenty To thirty years old age.

00:43:54: If you buy much younger than twenty, then the yield will be much lower.

00:43:57: if you buy a lot older than thirty Then The value will fall off the cliff very quickly because property takes a lot more innovations and repairs as it approaches forty.

00:44:07: And for wooden structures I would go twenty years in younger so ten to twenty at most.

00:44:16: For the same reason, younger would be lower yield and over-twenty is when wooden structures start accumulating more maintenance issues.

00:44:23: So you want to buy them at twenty and resell then closer to thirty?

00:44:27: And with concrete do you wanna by them at thirty or younger and resell them closer to forty?

00:44:33: but houses tend to be a bit of headache in Japan.

00:44:36: I wouldn't classify wooden houses as ideal asset for investment purposes.

00:44:43: I think that many people misunderstand this, when you have a house.

00:44:47: You've made the better investment because basically they wouldn't build it as we say No, they devaluate much faster right so and I don't know what is the average lifespan of residential wooden houses But it's not really that long here in Japan from a

00:45:08: tax perspective.

00:45:09: They completely depreciated at twenty three years old.

00:45:13: That's not to say that there actually physically worthless.

00:45:16: you can definitely keep your house alive and maintained longer than that but Once they hit about thirty, five forty you're going to be pouring money into them on a far more regular basis.

00:45:30: And beyond fifty is even forty-five.

00:45:33: I would say it's really time to consider to demolish and rebuild them unless if there are phenomenal two hundred year old coming kind the countryside that has been lovingly restored in Europe opened because they were actually built to last a lot better in those days, right?

00:45:49: The ones with the huge pillars that you see on the front side.

00:45:51: It's like mini temples and Those are built much sturdier so those You can continue to restore and maintain And there will be beautiful houses that have a lot of value.

00:46:01: But then you need specific artisans which are also dying out.

00:46:06: That's another.

00:46:07: Another part where the population issue comes in is that There are less-and-less people who know how to maintain these kinds of properties And it's very expensive to maintain these kinds of properties.

00:46:16: So they last longer, but if and when you do need to work on them is a lot more expensive.

00:46:20: so generally...and everything modern built post-World War II not meant to last with wooden houses.

00:46:28: If buying them brand new or let say ten to twenty years old They could be real.

00:46:34: But there are also family sized meaning You have get a family tenant put in their And again, population trend being the way it is.

00:46:42: It's a lot easier to find singles and couples without children or maybe with one child.

00:46:47: so much smaller footprint not as single family home but rather two-bedroom condo unit.

00:46:53: between this studio tour to bedroom... ...is a lot more easier to populate and less of floor plan to renovate between tenants as well.

00:47:00: So we would normally unless somebody has specific reason for go for single family homes.

00:47:06: We'd normally direct them towards condo units

00:47:09: I see.

00:47:10: Well, and that's also a very important insight because... ...I believe if you don't know the market well or have people like you who can help with all those trends it is really easy to make an investment which doesn't yield much.

00:47:29: That's half of reason for our existence there.

00:47:33: Half of it is to bridge cultural language gap and to provide people with a remote presence in Japan that they can be their single point of contact.

00:47:42: And the other half is, give them exactly this kind of advice.

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00:49:52: and now back to the podcast.

00:49:54: If you want to enjoy it best of both worlds then I would buy an Aparto like small multi unit.

00:50:02: It is wood but still framed wood But its built much sturdier than single-family homes And they start at very low prices compared to Western markets.

00:50:10: So you can, good location decent age apart or can started around forty fifty million yen which is about three hundred or three hundred and fifty thousand US dollars?

00:50:22: You get a multi-unit two or three floor apartment building with somewhere between four to twelve units in the decent locations.

00:50:30: Then you have the benefit of owning the entire land plot, which is larger than what it gets with a fraction that you get from the condo.

00:50:37: You've got a diverse income stream and one tenant moves out but still has four or five units generating income.

00:50:45: That tends to be better investment.

00:50:47: And also if you're not dependent on owner union rules then maybe experiment with short-term stays, monthly stays... ...you don't need permission except for the local municipality.

00:50:56: You still have to follow within zoning regulations, but other than that you can do what you want with a property and get more flexibility, more creative freedom or diversity... But then maintenance of the entire structure is on you.

00:51:09: so we need not only the capital to buy in but also put aside to constantly maintain and renovate the property when it needs attention.

00:51:18: Right I was not aware.

00:51:22: their houses, right?

00:51:23: Their wooden constructions.

00:51:24: I was not aware that they were called Aparto because for me, aparto usually means a condo in a block of flats which is an apartment...

00:51:34: Yes!

00:51:35: That's something that's confusing to many of our

00:51:37: minds.

00:51:38: so an apartment in English as an apartment it's the condo unit within a larger but yeah.

00:51:44: But Japan has small wooden structures that are multi-unit apartment buildings or called Apato.

00:51:51: Oh, I was not aware of that.

00:51:52: and well we learn something new every day.

00:51:55: The big concrete building.

00:51:58: the units are called mansions.

00:52:00: They are yes in Japan

00:52:02: or a mansion mansion room?

00:52:03: The whole building is called a mansion And one of the unit's in the condo with a room in the match

00:52:10: Yes

00:52:12: Whereas in English, when I say mansion somebody's imagining like a Hollywood celebrity type house on the hill.

00:52:19: Right right.

00:52:20: or an English mansion...

00:52:23: Or an English manor yeah exactly.

00:52:24: Manor in the countryside yes!

00:52:28: So it is interesting also how these terms travel across borders and what?

00:52:34: how they change their meaning, right?

00:52:37: So and then you mentioned also if you are the sole proprietor or the owner of such a building for example inevitably it is not recommended that you invest all the free cash you have into it because you need some cash to be left in case... You

00:52:58: always need so.

00:53:00: If your buying mansion room or condo unit or an apartment You're paying a monthly fee to the owner union and building management company, hopefully they put aside reserve funds.

00:53:13: That's part of the due diligence we do is make sure that they have kept what they need to assign

00:53:17: them

00:53:18: And then whenever there are any structural work needs done They will be paying for it.

00:53:22: out-of-the-reserve funds, planning ahead.

00:53:25: you don't worry about putting money aside Aside from sprucing up the interior or some vacancy expenses between tenants but those are relatively lower amounts.

00:53:34: when you own the entire structure there's nobody collecting any monthly fees and putting them aside.

00:53:38: You need to do that, you need to have me... The discipline and the reserve funds on your own so that you have I don't know ten percent of the rental income that you put aside.

00:53:49: And if in one something needs to be done on the structure then you have the capital to repair it.

00:53:55: Right, it sounds like an amortization fee.

00:53:59: Is that what they call in business?

00:54:03: I think

00:54:05: so.

00:54:05: Or operating capital or...

00:54:10: It depends indeed but yeah monthly ten percent of the income you generate.

00:54:16: But then how much before you start generating that income?

00:54:20: after you have made investment Before usually good to have left free just in case there is need of some urgent repairs let's say after you.

00:54:37: Our clients normally, if they're not living in Japan... ...they don't have a bank account here.

00:54:40: They can't open the bank accounts so we are managing their funds for them and then tell us when to remit their income back home.

00:54:47: We told him always leave at least one thousand or two hundred dollars Here, in case there's anything urgent that needs to be... If it is bigger than that then you'll need to remit funds into Japan anyway.

00:55:01: But if its small annoying stuff that would cost up to a thousand or two thousand bucks Then you don't want suddenly have to remitt tiny amounts of whatever exchange rates are available at the moment.

00:55:12: So always good to have per unit under management It's good about one thousand and two thousand dollars here.

00:55:18: so if your own entire building has six units maybe times six is not bad idea

00:55:23: Right, I see.

00:55:25: Yeah because sometimes once again you mentioned the dreamers in the beginning and... ...I believe that many cases it's like go all-in!

00:55:36: Yes

00:55:37: one of the first conversations we have with people if their entire budget is studio condo unit for thirty thousand dollars i would not want to see them spending their entire life savings on that.. ..i'd want something else they're invested.

00:55:51: so Again, part of the initial conversation onboarding conversation we have with potential clients is what else are you invested in?

00:55:59: What kind of asset class where in the world do you have stocks?

00:56:02: Do you have anything that's more liquid.

00:56:04: You have anything That's more speculative and then We try to make recommendation based on that if somebody comes up to us for their entire life savings Whether it's for a key holiday home or an investment property.

00:56:15: I would recommend that they save a bit more and have a bit More liquidity before they pull the trigger

00:56:20: Right.

00:56:21: Yeah, that's a good piece of advice I believe.

00:56:24: And then also another thing... So many people come here before they came to Japan and contact you.

00:56:33: They say okay i want to invest.

00:56:35: so what questions do you think should be asked first?

00:56:40: It is not to check your expertise but for their own clarification things have to know.

00:56:51: What questions should they ask themselves?

00:56:53: What question should I ask you so that they can get a clearer picture in their hands.

00:56:59: Well, from self-awareness perspective They should be aware of why they're investing.

00:57:06: what are the investment goals?

00:57:10: And similarly if it's not an investment If looking for piece or corner to call as holiday home What sort of lifestyle would be suitable for them?

00:57:22: So a lot people are chasing the dream.

00:57:25: If they're investing in Japanese holiday home, then they have Studio Ghibli kind version on their head about what beautiful anime style house might look and feel like to live-in.

00:57:38: if you're looking for investment than they may have preconceived perceptions that good investments bring from your own country.

00:57:47: The first question that they should ask is to present us with their view, their goals and image.

00:57:54: And then allow us tell them if it's even feasible in Japan?

00:57:59: Sometimes there are slight tweaks needed.

00:58:01: sometimes we have to completely burst the bubble... ...and tell what they're imagining isn't feasible at all.

00:58:07: So first know thyself as the mantra.

00:58:11: Then from then on They need be aware.

00:58:17: I mean, it's a tricky question for me because they usually don't know what questions to ask.

00:58:23: So we have to kind of preempt lot things that are already aware is the preconception and tell them how tenancy laws work in Japan What sort properties tend make better investments?

00:58:35: What sort locations tend be more attractive buying in super central... I mean everything that we discussed and our first conversation.

00:58:44: the people are not aware of, they're counter-intuitive.

00:58:47: And i don't expect them to know what is open for learning about things that might be different from what you assume right?

00:58:56: Right!

00:58:57: Also another question when it comes to investment here because sometimes if your Japanese resident or a business right?

00:59:07: You can borrow money, bank money and invest them.

00:59:12: And so you can pay off the debt later on.

00:59:16: because well with uh...the income that comes from that investment.

00:59:21: but then when you work with foreign residents do Japanese banks actually lend money to foreigners to invest

00:59:31: Foreign residents who are resident in Japan and that's an important point of people overlook also generate their income.

00:59:39: In Japan, so if you're a foreign resident but your entire income is generated at the USA then don't qualify.

00:59:45: But If You're A Foreign Resident Here Generating An Income In Japan Either From Your Own Business Or As A Salaried Employee And Salaryed Employees Are Usually The Ones That Find It Easier To Get Loans Then Yes Japanese Lenders Would Lend to You.

01:00:01: They would want to see that you're either a permanent resident or at least on the clear route towards permanent residency, which is becoming more of a vague group these days.

01:00:10: But it could potentially still be the case and if your are non-resident in Japan Your options are a lot more limited.

01:00:17: so there's few banks for investment properties whether those are condo units Or entire buildings but It's difficult to work with them directly.

01:00:32: You would have to work for a company that specializes and has the connections of these lenders, which can help you get that kind loan by establishing Japanese corporate entity... ...which comes in an upkeep over a few thousand dollars per year.

01:00:46: so I wouldn't do it as cheap or condo unit is not worth it But that is possible.

01:00:52: Alternatively, there's a new company called Yen Loans That have been in business for about year now and they provide loans from condo units anywhere Japan.

01:01:03: They will potentially be expanding to houses as well For any kind of purpose whether it's holiday home or investment property.

01:01:14: Even if you've got an existing asset in Japan You can withdraw the from the equity that you have on this asset, and then you can get a loan to do anything you want.

01:01:23: But both of these

01:01:24: solutions

01:01:27: as well as banks who lend to non-resident foreigners by establishing cooperation in Japan all are not going be at same terms with Japanese residents.

01:01:36: The interest rate would be higher or more limited than the types of properties which they borrow for and there's a handful of options, not the multitude in hundreds of institutions like Japanese residents would

01:01:49: have.

01:01:51: Right so it is not an easy option to go for?

01:01:54: For non-residents no but... There are options out there which was not the case up until about five years ago.

01:02:00: So its actually improvement

01:02:02: I see okay.

01:02:04: And then my next question to you For people, for foreigners who have come here on let's say a five-year visa because there are five year visas right?

01:02:20: Working visa.

01:02:21: Yes yes and of course they generate income but you know what they don't know basically whether uh They will be able to stay after the first five years or they'll have to go back.

01:02:33: So

01:02:35: most lenders would not lend them.

01:02:39: those foreign specific non-resident specific lenders would, but again that will be at the same terms as a non-resident bouquet.

01:02:47: Okay and to such people do you recommend buying or renting?

01:02:56: Depending on where they can buy if most expats like to live in much better locations than wider more comfortable properties than your typical Japanese tenants.

01:03:10: If that's what you're going to be getting, I would advise to rent because it doesn't translate into a good investment property down the track.

01:03:19: You are gonna in a central location and large property or relatively new building... The yield will very low.

01:03:24: so when we move out and put a tenant there then they make peanuts compared with prices purchased for them.

01:03:30: but if down to earth types and they're okay living a little bit suburban in a little of an older building with the smaller footprint house or condo unit.

01:03:42: And then I'd say buying does make sense.

01:03:44: because when you move out, put a tenant there it's getting a decent yield.

01:03:50: To me that is counterintuitive honestly!

01:03:54: Of course i think so too since your industry doesn't

01:03:59: work well... Well if you are buying in super central Tokyo sorry Tokyo Osaka or Fukuoka then your condo unit will probably gain in value.

01:04:08: In five, ten years time.

01:04:09: so there are edge cases where that does become a worthy proposition when you're buying something very expensive.

01:04:19: but for most of us who operate on the middle ground I would say we always tell people The type of property that you'd ideally want to live in doesn't make for the best investment and vice versa, at the best investing property.

01:04:33: You probably never wanted living because they're going to be small and cramped and uncomfortable not on the best location which is where we get cash cows generate highest yield.

01:04:43: so yes a little bit counterintuitive.

01:04:44: yeah

01:04:46: That's interesting too.

01:04:47: okay another piece gold here.

01:04:52: We can go on it for days right?

01:04:54: We can go on for days, I would love to continue the conversation of course because there is so much that people like me don't know.

01:05:01: And i have been here for twenty five years and still close to no idea how things work in the real estate area.

01:05:11: So fascinating!

01:05:14: Then...I also have a question too.

01:05:16: You came to Japan fifteen years ago?

01:05:22: What one thing actually turns your, let's say perspective or understanding of how Japan works?

01:05:29: How the O-State in Japan works.

01:05:33: One thing that turned upside down... ...your understanding for the industry here in Japan as compared to industries from other countries.

01:05:45: Yeah, I think the first penny drop for me and that's something we touched on in our previous conversation is what was mentioned earlier.

01:05:54: The fact that i'm a cash buyer and have money to invest doesn't mean that im'e at any superior position here right?

01:06:03: So being a foreigner plays much stronger role than being a cash buyers in Japan.

01:06:10: The reluctance of working with us as opposed to the wish, get our money and deal.

01:06:18: They run counterintuitive again for what would be a case in other countries.

01:06:22: so you have two... And still we have buyers who come into this day think they can boss around agents that are working with.

01:06:31: send them on wild errands full runs expect them do stuff because they're the buyer or customer.

01:06:39: Very quickly, it's not nice to say but very quickly.

01:06:41: put them in their place and explain to them that if they keep communicating with their professionals this way then I'm gonna have any professionals who work with.

01:06:49: We've got thick skin.

01:06:50: we worked with foreigners on a daily basis But your traditional Japanese real estate agent will only take so much of that before he disappears.

01:06:57: So there was an eye opener for me but fortunately i learned quickly.

01:07:03: Can you tell us the real estate industry here is like fortress?

01:07:07: And agents are guardians.

01:07:17: It is getting better.

01:07:18: these days there are a lot more agents especially younger ones and Especially women who are generally more open-minded in Japan Who are looking to work with foreigners?

01:07:28: They realize that their local market is shrinking And they need to go to a foreign clientele if they want to expand Their businesses, you know so the just more internationally savvy.

01:07:36: Maybe they studied overseas.

01:07:37: They like what they felt with on the business perspective and want to do that kind of business.

01:07:44: So it's not as impenetrable, but you can't come in all guns blazing around expecting things work their way into your home country.

01:07:54: It is a very different market here.

01:07:59: My next question for anybody who watches us or thinks about investing in Japan Where could we find them?

01:08:08: And do you also work across Japan or focus mostly on Fukuoka?

01:08:16: So these are two different...

01:08:18: We're in Fukuokka because we love the city.

01:08:20: When we first started around fifteen years ago, this was where our best deals were at.

01:08:24: These days Fukuoko has become more similar to Osaka price-wise.

01:08:27: It's not as attractive it used be but still live here and we work nationwide.

01:08:34: finding me is so easy that name there's only one of me, so anywhere on social media you'll run a search for Ziv Nakajiman again.

01:08:43: You should be able to find me.

01:08:44: our website is nippontradings dot com and i double p o m tradings with an s .com or one word um and the japan real estate podcast.

01:08:53: if you google that uh spotify or apple store wherever you're listening to podcasts There's Only One Japan Real Estate Podcast And That's Got All Our Contact Details There.

01:09:02: It's Worth To Listen Because it.

01:09:04: it goes through a lot of the stuff that we've been discussing here in a lot more detail.

01:09:08: Right, well thank you for that because I believe Japan will continue to be an attractive investment spot.

01:09:18: can i go this?

01:09:20: Yeah absolutely!

01:09:24: For different

01:09:25: reasons

01:09:26: but not for

01:09:30: Right, well maybe we can explore those reasons in a different conversation later on now when your time or work schedule allows.

01:09:40: And then at this point of time I want to say thank you and really for sharing all the nuggets because once again people who haven't been here People like me, who have been here for such a long time.

01:09:54: Have no idea and all these things.

01:09:57: they feel counter-intuitive right?

01:09:59: So it's definitely worth just working with.

01:10:03: people like you is what I want to say.

01:10:05: And of course i also want to Say that...I am grateful That You shared them With us Here For everybody.

01:10:11: Thankyou!

01:10:12: Yeah..

01:10:12: I appreciate if this brings value To anyone and helps Them from some costly mistakes.

01:10:16: Then my mission Is accomplished

01:10:19: Yeah, and also to everybody watching.

01:10:21: please do not hesitate to reach out to Ziv because you can find him on social media very easily.

01:10:28: his name And so he's company as well Predominantly.

01:10:32: Not only LinkedIn right here own Facebook I believe your also one that

01:10:38: is Personally active in facebook linkedin an.

01:10:42: I do reply on Instagram as well.

01:10:43: I'm there but it kind of mirrors my face book.

01:10:46: The company is everywhere.

01:10:50: It has company pages on Facebook and LinkedIn as well, it's on TikTok... I think even threads?

01:10:58: We have a social media

01:10:59: group that

01:10:59: wants to be me but i'm not in the loop anymore.

01:11:03: Yeah this was just typing your name and go from there.

01:11:08: Yes definitely very easily found and approachable.

01:11:12: Thank you, Ziv.

01:11:13: So I'm looking forward to continuing this conversation and everybody who watched us today have a great mid-week and reminder of the week as well!

01:11:22: See ya next time!

01:11:44: I love it when someone asks all of the right questions and is really

01:11:51: eager

01:11:51: to learn.

01:11:52: And Maya, if anything in spite Now, we can't let you go without telling me about MailMate.

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01:12:08: they offer peace of mind for your property in Japan.

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01:12:23: today I mentioned the japan real estate podcast for ten percent off Your first year And that's it from us for this episode, folks.

01:12:31: Huge thank you for tuning in!

01:12:33: Please do follow and subscribe to the show.

01:12:35: if this is your first time listening... ...and we'd love it if you could like & even share this episode with anyone who might find interest.

01:12:41: but more importantly we LOVE hearing from YOU.

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01:13:11: Yeroshiku!