I was talking to a friend
recently about money and what makes us happy. He explained that the thing that
brings his happiness is collecting toys. Yes, a grown man in his late 30’s
explains that he greatest joy is collecting what many throw away. He believes
that his estimated wealth from his toy collection is over half a million
for most people money is an emotive, complicated subject. We all
have different beliefs, motivations, emotions and preferences, which can make
our relationship with it difficult. Money also influences how we view
ourselves and can affect our feelings of self-esteem, control and security
For some people, other than paying for the basics, money is
merely a measurement of their personal or business success. Others see it as a
means of obtaining social status, often comparing their material wealth (house,
car, clothes) to that of their peers and friends. Their personal motivation was
very much about the outward appearance of success, even if they were not
completely fulfilled and satisfied as a result
While this means money
will make your life easier to a certain degree, if you let money own you it
will make you miserable.
True wealth is what you
are left with when they take all your money and properties away – your health,
your family and friends, your knowledge and mindset, your spirituality and your
ability to contribute to society.
True happiness comes from having a strong sense of purpose, being clear on your
ideal lifestyle, and making work and spending decisions aligned with that
vision. Life is far too short to waste time doing things you don’t enjoy.
Whether you are just starting
out with property or you are already on your way to building a portfolio,
educating yourself is the key to success. While it is possible to hire professionals
to do most of the work, without some basic understand of how the process works it’s
difficult to be successful
You don’t need to know everything but you must educate yourself
in the basics to get started. A little education goes a long way in
accomplishing four essential goals:
1. UNDERSTAND INVESTING AND REDUCE YOUR FEAR
real estate will demystify it for you, reducing your fear of the unknown.
Without that fear, you’re more likely to take the steps necessary to progress
to the next level and reach your goals.
2. KNOW THAT ORDINARY PEOPLE CAN BE SUCCESSFUL
will show you that you don’t need to have any innate real estate talent or
know-how. You will see that anyone can do this. You don’t need a degree in law,
finance or real estate, and you don’t need huge sums of cash. Ordinary people
just like you, with ordinary reserves of cash, have achieved great results in
real estate investment, and you can too!
3. CHOOSE AN AREA OF REAL ESTATE TO SPECIALIZE IN
By choosing an
area within real estate to invest in will help you to narrow down and focus.
When you understand some of the unique qualities of each type of real estate,
you’re more likely to discover the type and location that best suit your
investment style and needs. Different areas include residential, commercial, renovations
or developing, just to name a few
4. IDENTIFY EXPERTS TO ASSIST WITH YOU INVESTMENT STRATEGY
might be best for your particular kind of investment strategy. When you
assemble your team of advisors, one of them will be your real estate agent. He
or she will be an expert in one particular sector—the one you’re investing
in—but most likely won’t be an expert in other sectors. For example, he or she
might specialize in duplexes, but not malls. By sticking with one sector, you
can retain the same team of advisors without having to seek others.
Where do you get that education? A good place to
start is to read books, magazines and online articles on related topics. One
resource will lead to another, and then another, and as you find yourself
asking questions or wanting more information on a specific issue, it will guide
you to the next article or book.
Over the last several posts we have highlight some of the reasons why investing in the Japanese property market can be positive. Real estate investing like any investment vehicle comes with risks but the risks in property can be difficult to control. Things such as rent not being paid, tenants not looking after the property, items in the house breaking down and needing to be repaired and other issues that can cause landlord’s headaches. In Japanese properties, these issues are often absent.
Japanese Tenants generally stay for several years allowing a steady source of rental income.
Tenants usually are very reliable in paying their rent on time.
Tenants are respectful to rental properties making sure the properties are kept clean and tidy. On vacating properties Japanese tenants will make sure the property is left the same as when they moved in
By western standards, Japanese units/houses tend to be very basic accommodation. Tenants are required to purchase all white goods and furniture themselves. This even includes ceiling light fittings and fans
Little protection for the renter at the end of the lease period.
At the beginning of a rental period the tenant must pay on average a deposit of 2 months rent. Deposits usually are non-negotiable as they are a refundable expense that is meant to cover any damages done to the apartment outside normal wear-and-tear
Another payment a tenant must make is called ‘Key money’ and is a throwback from the end of World War 2 when the country was rebuilding. It was a gift to the owner for allowing the tenants to live in the owner’s apartment. Although building has long since be completed, the `key money’ payment still exists and usually around 2 months rent
Other fees charged to tenants include cleaning fees and renewal fees.
"Discover The Secrets To Generating MASSIVE RETURNS From Japanese Property"