Yuji Fujiyama in Tokyo accumulated 500 million yen worth of assets

I acquired most of my assets through court auctions.

People often ask me why I buy high-risk properties on auctions rather than ordinary assets that take less trouble. The question is perhaps well warranted. Sometimes when I hear about the cash flows from an apartment building in some smaller city, my mind is a bit swayed.

But I believe it serves the society to acquire foreclosed properties and turn them into regular properties.

I started living in the apartment building in Minamisuna, Koto, Tokyo, 18 years ago; Room 301 on the third floor. I went to work from the apartment, got married, had three children.

There are 31 units in the building. I bought one of them through a court auction. Two bedroom apartment was too small for the family of five.

A turning point was buying Room 606 which was controlled by a bankruptcy receiver. So a dining room was added to two bedrooms. I bought others as well through court auctions.

And in 2003 I won the bid for the land under the apartment building, 155 tsubo, the ownership of the first floor and the storage at the back. Price was 22.1 million yen. Without any bidder the price slowly declined from 132.6 million yen. And it was the last day.

I have engaged in land lease with other unit owners, and now have more than half of apartment units.

The 981.jp is a requisite tool in searching for a property to bid. I bid on five properties in November and December of 2010, and won three bids; all under prices for land only. I could do so because of sifting. I don’t have to search for each court, and can search for properties in wide regions. Assets are categorized into seven groups automatically, which is a great aid. In BIT, I have to look into each property description to get to what I want.

As I live in Tokyo, when I guy a property elsewhere, auction concierges are strong allies.

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