MahasarakhamMitch

 

This is a 'how long is a piece of string' type question.

 

My first question would be how long have you previously spent in Bangkok?

 

 

I reckon the absolute minimum to have a half decent life in Bangkok is 60,000 THB a month and then for every extra 10,000 THB you add life gets noticeably better.  

 

If you have between 80,000 THB and 100,000 THB to spend per month then life should be pretty good.   You won't be living like a king but you will be able to enjoy life without worrying too much.   

 

Bringing in 1300 GBP a month is around 56,000 THB (today's rate).   That is just below my minimum level, and unfortunately you are also at the mercy of the exchange rate.

 

I'm not sure why you'd want to buy a car in Bangkok, personally I'd save your money.

 

12 years until your pension kicks in is a long time.... 

 

None of us really know how long we have but it's good to have a longterm plan. 

 

Nothing wrong with part of that plan being an inheritance.   

 

 

I am not a fan of Bangkok and wouldn’t live there as it’s just too busy and the air is so polluted.

There will be a large inheritance from my mum at some stage unless it’s eaten up with care Home fees.

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I think it is a great idea and you will be fine on that amount. You will also have that back up money to cover any illness or accident that may happen here. Just rent small and cheap till you are sure where in Thailand you want to be.  Remember you can always visit the wilder places from a much more peaceful place where rents are much cheaper.    Good luck

Thankyou for your reply. Just a couple of questions when you have the time.
Did your wife’s uncle have to provide anything, medical letter from hospital or certificate. Has he retained his driving license or was it required to be returned.
You say to collect his badge, do you have to order it or are they readily available or just under consideration while the cogs are in motion.
Lastly how long did this take from applying to collecting, and how much did it cost.

They do exist . I took my wife’s uncle who is disabled to the transport office to pick his badge up


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Anybody know Graham Barr around these parts?

Ignoring the house and car, it has to be my Rolex .....a birthday present to me from me

..the thing is.. Sakhon Nakhon is the designated office for Kalasin.. 
 

Unfortunately those of us living in Kalasin are forced to go to Sakon Nakhon for our Immigration Services...  But according to the Head (Lady) Officer in Sakon Nakhon that is going to change to a new office in Kalasin within the next 3 to 4 years...
 
For now it is usually only a once or twice a year trip to immigration for the yearly extensions, as we all do our 90 Day reports by mail...
 
Pianoman

B

How old are you now Mitch?
 
Here is my view for whats its worth as I haven't made the move myself but I have been a UK landlord in the past. I wouldn't split one 500k property into two smaller ones with a value of 250k each, thats going to cost you 25k just in stamp duty alone. Your maintenance bill will most likely be bigger and you will be paying agents 10-15% per property to have to have them fully managed.Of course your chances of getting a bad tenant have also increased. If you have to sell I think buying one rental and investing half might be a better solution, interest rates for investors cannot get any lower than they are now and as suggested by others there are numerous investment vehicles depending on your appetite for risk. Of course your incomes have to be taken into account too, whatever is over £11500 will be subject to at least 20% tax.
 
For myself who is shortly to make the move the exchange rate has been a blow but Im hoping over the next few years for some recovery and maybe in 10 years to sell my place if interest rates are higher and invest a large portion of it for additional income. Whatever you do good luck, I know Im a little nervous because for me if I retire theirs no going back to my job.

My husband and I would move from Khon Kaen to Kalasin except for the fact he likes having the Thai office immigration close. It is my  understanding, Kalasin does not have an immigration office. Where do you have to go for immigration services? 

I am in a very similar situation. 58yrs old with £500k UK property, small current pension, Thai wife and planning to retire in Thailand next year. But I don't have the extra rental property. I certainly think it will be possible for you to make the move now rather than waiting, but have an alternative suggestion on the strategy. I would rent out the £500k property and sell the £200k property.
 
I agree with the other posters about the hazards of remote letting, and you will be walking right into this problem if you split the £500k property into two £750k/m properties. Assuming your £500k property is in a good location and condition you will attract a 'higher quality' of tenant paying around £1300-£1600/m and greatly reduce the risk of problems. If you sell the £200k property and invest it with a broker you will be able to use the returns to top up your rental income pending state pension age, and enable you to purchase medical insurance or simply pay the cost if the need arises. You may have to eat it into a bit depending the standard of living that you want in these intervening years, but you will still be in a very strong position at 66.  
 
I also agree with the posters who suggested you don't need to retain a 'bolt hole' because you would be able to use the £500k property to rent accommodation in the UK if you did ever need to return. Regarding the general strategy of retaining and renting out your property, I personally believe that in the current climate this is the right way to go, rather than selling up and investing cash funds. Despite Brexit, it is in my view a reasonably safe bet that UK property prices will continue to increase at 3%+ pa for the foreseeable future and this combined with a potential 3%-5% net rental return is hard to beat. As other posters have pointed out you will be exposed to exchange rate fluctuations with this route but it a case of balancing out the risk reward ratios of all the options, and it is  unlikely that the rate will fall sufficiently to offset the gains from retaining your UK property.

great idea if you have not been divorced by that time  and lost all of your assets 

with all the wealth he says he has,and he wants to KNOW if 18,000gbp.will be enough [850,000bht] a month,
that should be enough for you,wife,wife's family and all the rest of your extended relatives.
your not trying to take the p--s are you.

Its the question of, are you going to live in Thailand 24/7 on holiday, or are you going to live there normally.
If you live a normal life then the money will be more than enough.
If you want to go out and party all day every day then it wont last long.
Cant imagine partying 24/7 will be much fun after a couple of months.

Hi guys and gals

I would like to retire to Thailand in the next 15 years. My missus has a couple of plots of land and a house in Maha Sarakham (which I like but I doubt that I could live permanently).

We have a mortgage free house with a current value of about £500k. We have a rental property which is worth about £200k

When the time comes I'm thinking we would sell the main house and buy 2 smaller homes for £250k each. We would have our other rental property so that leave us with 1 house as a bolt hole in the UK. And 2 rental uk houses bringing in about £1500 after taxes, fees and repair fund.

My first pension at 57 is small - only £75 per week. Our second pension matures at age 65 at £300 per week.

I'm not sure if £1800 per month is going to be enough at age 57. I know £3k per month will be ok at 65 but I really want to enjoy Thailand before we both get too old.

What would you guys do?

How easy is it to manage rentals from abroad?

Any thoughts kindly appreciated

As a foreigner YOU cannot own LAND end of.

If you want to trow money at a piece of land , thinking you own it, watch ya back as there is always someone who will sneak up and grab it off ya , and you dont have a leg to stand on.

I think it depends on what you are happy to walk away from. I bought a couple of plots of land for my girlfriend (now wife) for £300 a piece over 18 years ago. It was nothing special then but my girlfriend (now wife) liked them plus it was a good deal at the time. Over the years, the area became developed, roads appeared, big C , Tesco etc and the plots have become very good investments either as retirement plots for a house or shop in our old age. If she leaves me then she can have them as I wouldn't want them. Have j lost anything not really as I've had bigger restaurant bills in the past.

If only I could get in that yard with a bowl of sugar [emoji526][emoji14]

He should have taken his money and retired to Koh Samui

Normal thai practice anywhere in Thailand, is to Put a large FOR SALE board on the property, along with contact numbers. If your price is good, maybe able to sell quickly. But sometimes may take very long while to find a willing buyer.

Graham- We are in a near identical situation and are slightly nervous about conscription. My son has done army cadets since he was 14 and we were told by the local amphur in Maha Sarakham that if he has lots of pictures of him in his platoon and has a letter from the Army then he would not need to join the Thai army. I'm not convinced by this advice but we live in hope. If the worst happens I will have to make a donation to the "Generals pension fund" [emoji6]

We had to courier some Land papers from Maha Sarakham to London for safe keeping and were really impressed by EMS. Posted on 26th December and received by signing delivery on the 28th December. Personally, I think that was an impressive service.

Try £25 for one in the uk

My experience with the NHS is pretty good.
Kidney stones on 3 separate occasions. I had an ambulance blue light me 3 times, straight into A and E, pain relief (damn kidney stones hurt) and looked after really well.
Operation on back - done brilliantly and cannot fault the surgeon or care.
Operation on hand - day surgery - done quite quickly.
Blood clot - possible DVT - rushed to heart unit and operated on immediately, in hospital for 4 days.
If it's an emergency they will whip you in pretty quick, if it's less urgent then sadly you have to wait. If you don't want to wait (which is fair enough) then you can go private but it could be pricey. For example: my wife found a lump in her breast 2 days before flying to Thailand on holiday. I spoke with the GP and he said it would be about 4 days to get her seen by a specialist. I decided that we couldn't wait and wanted her to be seen immediately. I got her seen the same day at a Private Hospital in London and it cost £900. Yes it cost a few quid but we got her checked over and the all clear and went on holiday knowing all was ok.
The NHS is a pain and I wish it was easier to get stronger medications from the chemist sometimes but that's the way it is unfortunately. I do sympathise with your niggles but I also think the NHS is brilliant. The last thing I want is to have an illness and then be presented a bill for £100,000. This happens frequently in the United States. My mate had a heart attack and run up a $300,000 bill in 2 weeks and his medical insurance knocked his claim. He had to sell his house to pay the bill!

I cannot understand how one can survive on 720 pounds a month in the UK. Living in Mom's basement or couch surfing ?