DonTron

10-15% - then you have to be VERY good and VERY lucky!

I will say 7-9% is more the norm, depending on what properties you have invested in.

Low price condos (less than 4 mill) yield higher ROI, but the management/renting/maintenance/time eats up a lot of your profits

Medium price condos (5 to 12 mill) a bit lower ROI, but are fairly easy to rent out and the management/maintenance/etc. fees are the same amount as low price condos.

High price condos (12 to 35 mill) are much lower ROI, plus it’s really hard to actually find tenants here. These types of condos are for living or reselling, not for rentals.

I have actually done what you want to do and have achieved a passive income from rental properties which is worth living on, but it took a LOT more than 10 mill baht. I will say you need around 30-40 mill if you want to retire nicely and not live like a bum .

And you need good knowledge about investments in pattaya along with a good network of reliable realtors and property managers. I would even say that without a good network you won’t make it here as a condo investor no matter how much money you bring. The courts and laws are not on your side here, so you better know what you are doing and know the right people who can help you.

If you want to get started, contact a GOOD realtor who understands investors. Here I can strongly recommend Cees from Town & Country Properties. He helped me and many others get started in Pattaya.

Hope that helped you a bit on the way.

My cleaning lady talked to one of these so called "poor mothers" and she told her that she borrowed the baby from her sister because it could get her more money, and that she made more money just sitting on the sidewalk begging money from stupid tourists than she did preparing food to sell at the marked. So sitting down and hold out your hand was for her a better financial decision - less work, more pay.

My advise... do NOT give them money!

And often if you offer to give them food, they wont even accept it.

I also been asking similar questions to several people in my real estate network, but noone knows for sure.

The thing I got is that nobody from my network believe this project will happen. There has been many articles and press releases, but nothing has happened at the building site. Nobody even knows if they have the permits in order.

So I would also like some concrete info on this.

Choosing a Thai wife….

A very rich farang man wanted to get married. He was having trouble choosing among three lovely ladies, so he decides to give each woman a present of 100,000 Baht and watches to see what they would do with the money.

The first lady does a total makeover. She goes to a fancy beauty salon, gets her hair done, new makeup, nails; buys several new outfits and dresses up very nicely for the man. She tells him that she has done this to be more attractive for him because she loves him so much.

The man was impressed.

The second lady goes shopping to buy the man gifts. She gets him a new set of golf clubs, some new gizmos for his computer and mobile phone. As she presents these gifts, she tells him that she has spent all the money on him because she loves him so much.

Again, the man is impressed.

The third lady invests the money in Pattayas real estate market. She buys a condo, sells it and earns 200,000 Baht more than she paid. She gives him back all 300,000 Baht because she loves him so much.

Obviously, the man was very impressed.

The man thought for a long time about what each lady had done with the money he'd given her.

Finally he did what all men would do.... and married the one with the biggest tits!

Cause that’s what us men do.

Today there is more money being spent on breast implants and Viagra than on Alzheimer's research. This means that by 2040, there should be a large elderly population in Pattaya, with perky boobs and huge erections - and absolutely no recollection of what to do with them.

Rimpa Lapin (or just Rimpa) is without doubt the BEST restaurant in Pattaya.

The prices are very cheap compared to other places with that kind of quality and the views are breath taking.

I have been there with my company and clients more than 9 times - and I am coming back for more!

Price example... last time we were there, we were 24 persons and ordered more than 40 different dishes, 50 cocktails, wine and 5 towers of Heineken. Huge party with great food and drinks... total price 18,000 Baht. This would have been 10 times that price in Denmark.

This place is truly a hidden gem!

Still, last time I went for my 1 year NonB there was a mile long line with 37 numbers before mine. But it didnt take more than 30 minutes anyway so they were actually very fast and efficient.

(they still willingly reached out for the 3000 baht tea money thou, unfortunately that hasnt changed)

There is no such rule. If you are under the 49% you can own the condo fully in your own name. If you are in the 51% thai pool you can own it thru a thai company.

You sound like you got a lot of knowledge of the market Bingobongo - how many investments do you own in Pattaya?

i have had house calls from them when i could not be bothered to unplug everything and take it in.

I never even had to go to the office of Liberty Computer. They always make house calls and shows up very quickly.

We got 22 computers here and 2 servers, 2 internet lines and one large GB lan network- Liberty setup and maintains everything.

They are a bit pricy compared to taking an amateur hustler from Tukcom, but they are professionals and we never had reason to complain.

Dont use Wattana, their service is horrible and they will "forget" both hardware parts and agreements very easily.

I will strongly reccomend Liberty Computer.

http://www.liberty-computers.com/

We use them for all our IT purchase, installation and repair, and they have been 100% reliable.

Just ask for Steve.

Russians accounted for 80 percent of the purchases in Pattaya

Ok, they dont know anything about the figures in Pattaya then.

Largest group of buyers here are the Brittish, second largest are the Scandinavians...

Romours has it that Bruno is spending a lot of time in court in Chonburi fighting off lawsuits from angry investors who want their money back.

What is strange is that they are still running ads on Walking Street (both the large screens), and in some magazines too.

(probably to fend off the lawsuits using some lame "...but we are still gonna build it..." excuse)

One down... a couple of hundred to go

Still... I read more and more about officials in the "inner circles" getting busted for corruption. This is a good sign so lets hope the trend continues.

...and speaking about corruption, I wonder who would the least corrupt country in the world might be.. (again)

http://www.transparency.org/policy_researc...ndices/cpi/2008

(thats one point where I am very proud being Danish )

I dont know what will be best to do.

Just make sure that if you dont get the mortgage, ask the banker "Why?"...

- Why didnt we get the mortgage?

- What extra papers/numbers are we missing in order to get it?

- What could we have done better?

If you keep asking them these questions you will end up with a lot of good knowledge on how to be qualified for a mortage in Thailand.

And have a much better chance with the next banker.

Great house!! Looks really nice!!

(where is the pool gonna be? :-)))

.

I have used Euro Design several times with great results!

They did an amazing design of my Ananya Condo, resulting in me being able to rent it out at a much higher rate.

They always do a 3D model first so you can see exactly how its goona look, and then you get to choose which elements you want or dont want.

I can strongly reccomend you talk to Eric from Euro Design.

http://www.euro-design-furniture.com/

My friend was scammed for a 9,000 Baht "damage" to a jet ski just 2 weeks ago.

My suggestion is - Dont Do It!!!

Or, if you really wanna go, ask if they are insured and ask to see their insurance papers.

According to Thai law they must have insurance on motorboats transported on the road (which jet skis are every day).

If they say "No have", then stay far away cause you can be pretty sure you will be scammed.

I do this already, invest in condos and rent them out. I got all condos rented out at the moment, I even got a waiting list on two of them. Thats the good thing about crisis, nobody wants to buy and everyone wants to rent

I am not yet living on the rental income, but I could easily do that since its 4 times bigger than my monthly spendings.

Over those 3 years it appears to me that the properties for rent on the sponsors site are the same ones year in and year out.

Thats usually because the website is not updated. My condos are still on several agents websites even thou I told them to take them down several times.

The art is in buying the right properties here. You want to be VERY careful and make sure the condo project has a good success with rentals. You also wanna be sure you can rent below market value and still be profitable in case the market goes bad. And finally... location-location-location.. dont even consider condos without seaview. People who move to Pattaya to rent and live do not want to be looking into a brick wall or have a noisy beer bar next door. They want to see the ocean and they want to be close to the beach, even the people who cant swim

For rental or sale its pretty simple in Pattaya - Seaview is KING! (I bought some cheap yet nice condos without view, they were very hard to rent out compared to the seaview ones)

The highway robbers are easily spotted.

They wear tight brown clothes and drive brown and cream coloured cars with red lights on top of them.

hahahahaa

The usually stake out the lightcrossing at 2nd and klang. I been robbed by them several times there

How do you go about getting a "bank guarantee". What is the Thai word for this?

I dont remember the number, but use the city service - NOT the private services.

My assistant was taken by a private service that charged 6000 baht to empty 6 tanks.

The city service are like 150 baht pr. tank.

I wonder how many they would nick if they raided Lucifer and Tonys?

Lucifer holds the hiphop crowd, and... well do I have to say any more (yes I am an ex rapper )

Phil's point is dead on.

There might be build wonderful clean resorts, hotels and condos but unfortunately we do not have control over the roads and infrastructure.

My feeble attempt to clean up Pattaya was to bribe a flock of kids from the nearest tin-roof village to gather all garbage on our road (and on empty lots), and put it into black trash bags. So for 2 months our road actually looked really great (until the squatters from an old ruin started emptying their bins out on the street again). Ohh well, at least I gave it a shot.

On the other hand there would be much more trouble when allowing thai men there, you can be sure!

Anyway, I agree with you, that this is not correct.

By the way, I preferred the old Insomnia much over the new one.

I agree with that - the old Insomnia was more "secret" and more "cozy" some how - I liked the size and mood of it better.