Digger

Stupid questions, probably, but here goes.

Are there visa  and work permit angles with owning condos for rental?

There has been talk about people owning in their own name, which implies not using a real Thai or dormant Thai company for the ownership.

Fine.

So people doing this are here on what kinds of visas?

Surely you can't get a business visa and work permit for owning and renting condos, correct?

Also, if you own and rent condos, what kind of work are you legally allowed to do without a work permit?

Meet with prospective tenants? Show them the unit? Do minor repairs in the unit? Collect the money? Etc.

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yes there is a requirement to have a work permit. This is considered work unless you outsource the property management to a real property management company. Thats why I was curious if the poster had ever kicked out a tennant and what then happened. Simple worse case scenario - guy stops paying rent, get kicked out and then out of spite goes to immigration police and says this unscrupulous farang landlord is working and receiving an income from condo rental - does he have a work permit? If he does but for another job, I'd say not too serious an issue, providing he was declaring the condo income on his tax return. If however he has no work permit and thus no tax return - worst case scenario is that the owner gets deported for working without a work permit and the tennant has a smug satisfaction and goes on to find another farang owner that he can do the same to, as he as the tennant has broken no law.

Assuming a standard of finish equivalent to the size and potential prestige of a house that size, I'd figure on about 12,000,000 baht exlcuding any pool, but including basic landscaping on say a one rai plot.

variables will include quality of kitchen, aircon, tiles on floor and in the bathrooms, bathroom fittings, lights, power supply etc but I'd say thats a pretty accurate end of project price without looking at the technical blueprints or understanding your overall spec. You could do it for more or less depending upon the spec.

Odds are though, unless your building it in Phoenix, you would never hope to sell it on in my experience. people with that kind of money are very particular what they want and for the most part, Hua Yai is not there yet in terms of desirability for hi-end buyers of second hand houses. Thats why Pheonix is empty and it has the attributes of a gold course, infrastructure etc.

Hi,

I'm currently back in the UK making money, after a year in los, planning & plotting my way back natch.

I noticed this snippet in Digger's post: "...get the condo under foreign ownership rules."

Perhaps someone could elaborate on this? Specifically:

Can I invest in / *own* property in Thailand from a foreign Ltd company?

Does it make a difference where said company is incorporated?

And any general info / links on foreign ownership would be appreciated.

Thanks

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To qualify under foreign ownership rules for condo's it is purchased in your name, not company name as far as I am aware.

If you bought a studio approx. 36-40 sq. meters in say soi 53 Sukhumvit you could rent it for anywhere from 13,000 to 15,000 baht per month. Expect to pay

about 1.6 million to 2.2 million baht for it. Small condos that rent for 10,000-15,000

baht per month are much easier to rent than bigger ones that rent for 20,000-50,000. It's a pretty hassle free way to earn money. If they don't pay, kick them out. It's not like the west where there is an involved process to evict a tennant.

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Thats a higher rent than I would have expected for a studio around Soi 53, and a lower price to buy it. Have you actually done it in the recent past or just giving an example.

Have you ever kicked out a tennant in a property owned in either your name or a Thai company? Again interested to know if you ever had any problems.

Mr. Samuel Jon Borofsky, from Ohio in the U.S.A. Mr. Borofsky, who is half American and half Korean was found in an unusual position on his bed.

No plastic bag over his head or hands tied behind his back.

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No need anymore - just order a pizza from Pizza Hut and ask for the Mafiosa topping. Same result and no suspicion of foul play.

Virtually everywhere around Pattaya is already zoned and surveyed. Chanots are the norm for all land titles. Therefore any land if it really overlooks Pattaya should have a chanote land title. If its on a hill, odds are its government land or temple/wat land and I believe (but would stand corrected by someone with better direct knowledge) that this type of land is never sold. Sounds very suspicious to me and i'd be very very cautious.

Diesel is going to full market price sooner rather than later - equivalent to a 15% increase in price - the govt has no money to pay for the subsidy and hence it must go. Just wait for the excuses to increase prices all round and see what happens to inflation figures and the economy in general.

1 billion baht for a museum What on earth are they planning to do for that kind of money.

I agree with Crazy Daves comments about the police do know what is going on.

I only come to Pattaya at weekends and I can think of which gogo's have underage girls (and for the MOST part, they are NOT on Walking Street), which bars employ farang without work permits, Which characters are as big a villains as they come (and how all seem to be upstanding members of community/rotary types/donations to orphanages/paying for new police buildings etc).

The police DO know what goes on in Pattaya however for the most part they choose to ignore it.

I go along with Mr. Digger.  The ONLY way to intelligentally buy a house here is to form a company so that it is yours.  You will change girlfriends while you are here, and you do not want to lose a house over it.  There is a reason she wants you to put it in her name.

If you are not willing to go the Company route, which is the way 1,000s of foreigners have done it for 30 years, then buy a condo.

If you buy property in a THai name, you are buying the Thai the property.

I have talked to a lot of guys who have lost homes to girls, but I have never even heard of a story of a guy losing a house while using a company.

Forget about those lease ideas and the buybacks, and whatever else anyone or any lawyer has ever told you.  Accountants form companies for 30,000 and it costs an additional 12,000 to put the company shares into your name.

If you want to speak to my accountant, who has served me and a half dozen friends for 14 years, I will be happy to give you her number.

   [email protected]     06  722  1216

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You can lease the land from the girl friend for 30 years and register the property in your own name. This make sit more difficult for her to bring in the whole village to live with you

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In theory yes, but in reality, we are not talking about educated Thais. If this girl thinks she owns the property, there aint a lot that you can do to change her thinking. Sure, the law is on your side, but to my mind its a disaster waiting to happen. Just set up a company and make her aware from the outset that the house is not hers and you will have no problems. Also never tell her you have nobody to leave the property to - that in itself could spark another game.

Other option is to go down the lease route and recognise that odds are within 3-5 years you aint going to be living there and be prepared to walk away from however much you have spent on it.

In thailand i have a 1964 VW Beetle and a new Chevrolet Colorado.

The beetle is the fav because the colorado HAS'NT ARRIVED YET

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Still waiting dave?

I thought you was picking it up before now, then again I suppose you thought the same thing too.

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Thats what i thought 1 week= 2 weeks = 3 weeks

I WANT MY TRUCK

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Actually Dave, I think I saw your motor on display at the Chevy Colorado Wild west town in North Pattaya this weekend. Little cutie salesgirl, said it had been sold but not delivered as they wanted to keep it here for the show - she said some Brit who owns a bar in South Pattaya has ordered it but not to tell him otherwise he will get upset

AAAAhhhhh, well in thailand it has to be this one, although i suppose i could post a pic of me truck

UK, it would have to be my red MGBGT, m reg it was, the last of the chrome bumpers, full sunroof, although the last practical car i had in the UK was a vw sirroco gts, that was black with all the spoilers and skirts

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Dave how much do those Hyandais go for new in Thailand?

I stand corrected on the MRI scan - just called Bumrungrad and they advised MRI scan for the brain is approx: 12,500 baht.

The land tax is down to the seller, but best to make that clear from the outset.

Most sellers will register a lower price than the one you are paying, but

that does not matter to you.

Best to have a lawyer look over the papers first and act for you at the Land Office.

You also need the forms for the old owner to sign, passing the water, electricity and telephone services over to your name.

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THANKS ALL FOR YOUR HELP...MUCH APPRECIATED.

I am thinking of putting it in my girlfriends name with a lease option for 30 years..I have no one i want to leave this property to so is not a problem..I understand I can do anything with the house under these terms and she cannot evict me...My lawyer is thai and very good but at the moment he has not taken any money from me and i do not want to bother him until I am sure of going ahead with the deal..

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Er, yes she can - its called possession is 9/10th's of the law in Thailand. All she does to get rid of you is welcome the entire family, chickens, pigs, etc to come and stay at the house as well as a couple of Thai lowlifes in need of free accomodation in your room. Then she plays Karioke all day and night and if you dont like, you take her to court. But that will probably take 4 years, by which time you have left and given up. Dont think a piece of paper is going to influence a Thai girl - the house in her name and thats all she understands. If it gets nasty, she hires couple of thugs to suggest you move out pronto, or even worse pays a couple of police to harrass you. End result is she will end up with the property. She cant sell it of course with a land office registered lease but unless she is highly educated, she will not be thinking about that. So all she will do is rent it out for a tiny sum every month in cash to anyone with money.

Cheers Chuchok and Nick2k.

I just came back from Bangkok Phuket Hospital, it was a long time there and 19,600 baht later....

I had a MLI scan on my brain and had my blood checked as well as nose throat and ear checks done.

My health was excellent in every way, blood pressure normal as well.

I still have no clue what the problem is and the headaches are becoming worse.

Nick, you do make some valid points regarding the gym, as I workout 6 days a week and train with the Muay Thai boys twice a week. I will have a few days off of everything I think..

Still no clue though, but it was good to see that everything else was good, except for my problems????? who knows, will wait and see If I wake up tomorrow 

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Just out of interest - How much did they charge you for the MRI scan?

Sounds to me like stress comlicated by overdoing it excercise wise.

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Thats it, MRI , it was 12,000 baht and took about 30 minutes. I was quite amazed at how bloody noisy it was, especially as my head was killing me at the time. I guess all of those sounds they pulse into you bounce back a certain way and read the brain activity??

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Blimey, makes my ultrasound at Bumrungrad look cheap at 1,900 baht. How does that rip off place justify those fee's ? Well I now how they do - its got the expatmarket and insured tourists to itself.

How much did they charge for Complete Blood count (CBC) test and what was their doctor fee broken down as. Odds are you paid a lot more for the radiologist /radiographer doctor than the normal doctor.

Try and avoid fatty or dairy products wherever possible. I understund butter and cheese's are some of the worst culprits. Also one part of an egg (but can never remember which part it is) and full fat milk. Vegtables are good as is fruit. I think that white fish is good as it white meat but red meat is relatively bad. So basically if you have fried greasy breakfast every day, cheese on toast for lunch and big steak with french fries for dinner, your on the wrong diet!!!

Cheers Chuchok and Nick2k.

I just came back from Bangkok Phuket Hospital, it was a long time there and 19,600 baht later....

I had a MLI scan on my brain and had my blood checked as well as nose throat and ear checks done.

My health was excellent in every way, blood pressure normal as well.

I still have no clue what the problem is and the headaches are becoming worse.

Nick, you do make some valid points regarding the gym, as I workout 6 days a week and train with the Muay Thai boys twice a week. I will have a few days off of everything I think..

Still no clue though, but it was good to see that everything else was good, except for my problems????? who knows, will wait and see If I wake up tomorrow 

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Just out of interest - How much did they charge you for the MRI scan?

Sounds to me like stress comlicated by overdoing it excercise wise.

In general terms I am a strong supporter of Bumrungrad. However as I tend to find with anything here, there are many variables. If I need to go, I always do some research and CHOOSE which doctor under the speciality I wish to see. I always choose someone who's online resume at www.bumrungrad.com shows them as some kind of Asst. professor or higher and ideally i choose someone who went to Chula medical school. I also look at how long they been qualified and also what are the lengths of their surgeries at Burmrungrad. Teaching doctors at Chula will only be working after 5pm at Bumrungrad or at weekends.

Furthermore I have also asked a doctor who's opinion I very highly regard - for example, I was worried about my heart a couple of years ago and wanted to see someone GOOD. I had seen two general doctors in the past on the same subject and tests were always inconclusive. I asked this doctor who is a teacher at Chula Med School, who I should see and immediately she gave the name of a doctor. "This doctor is very very good - he is the one to see" was her reply. He only worked at Bumrungrad for about 6 hours a week split over 2 days. Given that the consultation fee is the same regardless of which doctor you see, thats why I always go and see a highly experienced specialist. So far I have had no problems, but I do see quite a few young doctors walking around the hospital and I suspect that they do not have the expereince or insight of the more experienced guys. Nothing different to a teaching hospital in the UK or Australia as an example - you want to be under the teacher not the newly qualified medic. Difference is in Thailand is so easy to stipulate rather than wait for a referal from a more junior doctor as often happens in the west.

A few years ago my wife and I were involved in an automobile accident between Rayong and Pattaya..she was taken to B'grad hosp. in Rayong and the Dr's there had "accidently" taken the lens out of her eye and said "sorry, we thought it was a piece of glass"...she was stitched up like an American football and after 12 hours was moved to Pattaya Bangkok Hosp in Pattaya where she under went three surgeries in 31 hours just to correct mistakes made by the first hospital including removal of lots of glass left in, facial reconstruction, etc...sorry, I truly do not have any good experiences with Bmgrad...but PBkk was excellent and the Drs are quallified surgeons to handle emergencies..the plastic surg. and eye Dr. are top notch who constantly keep up to date on meds and illnesses. 

Don't know it the experience would have been the same at the mother hospital in Bkk but would think twice about it before using B'grad for elective procedures.  Definitly do you homework before deciding.

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Perhaps thats why is now closed. I suspect that Bumrungrad BKK could not get doctors of a high enough calibre to go and work up-country. Its a very common problem across a whole range of industries - BKK is the epicenter for everything in many many Thai minds. Anything other than working in BKK is a BIG step down. I gave up trying to open an office in Chonburi because I could not attract the calibre of staff I needed to work on the Eastern Seaboard.

Brainwashing rules apply -- you have no real freedom of speech - try standing outside the Whitehouse and complaining - if you have a good job it will dissappear and the next day youself and your family wil be on wefare or maybe dissapear like thousands others.

The freedom and democracy that you percieve to proctect was created due to a srikmish that you chose to build a nations entire ideals upon. In reality at the time its was nothining more than a thorn in the side of the greatest empire the planet has ever seen. And still today the lessons of great leadeship from the Briitsh Empire has still not been emulated by our psedou successors that are the USA - we have given you the chance to be world leaders - and you have failed dramailtically. In truth you are not good or intelligent enough to take up the task of world leadership. You have failed in Korean - Vitenam - and in the Middle East. It is now only a matter of time until internal unrest pulls the USA apart - then what happens?????

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You'd better pray that internal unrest does NOT pull the USA apart -- for if it does, China will walk thru' your empire (what empire?) in one afternoon -- that is, if other european countries don't invade first ... heheheh

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They have all tried in the past - the righfull rulers of the planet will prevail - the language is the key

Well lets hope that whoever they are, that they can spell better than you Alex

But for USA/Canada the weight rule is applied, being in general 20/30/40 kgs for Y/C/F classes respectively.

For premium pax, i.e. business and higher the check in staff got rules in their computers that are not published. For ex. to accept from business class passengers additional 8 kgs without making problems.

Payment of overweight is calculated as 1 % of the applicable first class one-way ticket price per kg. Should you have extreme overweight, I suggest to alert the airline before. For ex. I put once a staffmember on a flight from Asia to Europe, 1 suit case plus 250 cartons @ 10 kgs, total checked 'luggage' over 2.5 tons. Yes, we alerted to carrier b4 to assure the space and got a discounted overweight rule.

Being a member of the carrier's loyality program gives you usually another 10 kgs minimum when flying eco, 15 kgs in business a.s.o.

So checking in with a carrier where you a a gold card member and paid for business you might safely calculate 30 kgs fuer business, another 15 for gold card, 8 kgs tolerance, total 53 kgs.

With 1 point the airlines are now very strict, weight per piece not over 32 kgs, which is to porotect the baggage handlers from injuries. Also hand luggage you carry on board should not be over 7 kgs.

Last but not least, being friendly helps a lot. Smile at check in, apologize for the over weight, 'you know I live over there and my suitcase is full of the food stuff I cannot buy'. No guarantee but usually it helps, at least for a big discount.

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Axel, USA/CANADA use the piece system, 2 pieces up to 32 kg each from memory and there are restrictions on the sizes of those pieces. This would apply to any flight within or to the USA/Canada. Weight system is used pretty much everywhere else in the world.

If you look in the heath forum under title: How bad is AIDS in Thailand I posted a link to a report which proved transmission rates are far lower in circumcised men than those who are not circumcised.   The report is pretty old but facts speak for themselves.

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i looked it up. Hmmm. It seems to have been a big effort. I wonder why then some important issues are not mentioned.

BTW, I didn't see you mention it there, but "patai". You said you mentioned it.

Patai = digger ?

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I posted the link in reply no: 53, Pautai then must have read it and cut and pasted the article into the thread. I didn't because we were discussing rates of prevalence (where they established prevalence is higher than previously thought) rather than specifically in circumcised and uncircumcised men, which is what the study was for.

So Digger is not Pautai

I thought this might interest you guys, I received this email today from a man claiming to be the mans uncle from Norway. His English is poor but you will understand what he has to say........interesting.

For many years I have been keeping the track of this man (or as I would say "boy") and I am not satisfiyed by him beeing jugded as a "Suiedcied candidate"  And I do not belive that he brought his life to and end by himselfe. I do not belive that this is this is the end off of the story, and I would like you too follow it up. I am his uncle, and I know a lot that you people have not heard abouth yet - even though I know he did not kill himselfe.

Please taalk too the police and tell me what you lern to know.

Johan Isaksen.

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So Howard, what are going to do? Have any investigative journalists following up on the autopsy results? That could indicate drugs in the body/alcohol in large quantity all of which could add weight to either a suicide or suspicious death. Might make for an interesting follow up which would be a first for any of the Pattaya "news" shows.

Hi All,

I've been viewing this forum now for a couple of years but never seen anything specific about the idea of purchasing a couple of condos then renting them out to live of the income.

I already have house & car in Thailand and my budget is approx 8M Baht. Do any members have any experience or recommendations with specific reference to:

#1) Purchase one condo at the top end of my budget or maybe split it into 3 chunks of say 2.5M each per condo ?

#2) What is the typical occupancy percentage over the year ?

#3) I am thinking of Jomtien but what about Phuket or even BKK ?

#4) What pitfalls have other members experienced

Thanks in advance for any *constructive* contributions 

Mr_Gadow

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I have looked at condo investments time and time again in the Jomtien/Pattaya area but have always walked away for the following reasons:

1. The condo's where corporate ex-pats would live are already very expensive. For example Royal Cliff, Saranchol.

2. The yields from these types of condo's are very low - you will struggle to exceed 3/4% even assuming you have 2 year contracted tennant - why because the market rate for these condo's is set already. Typical rent in a Royal Cliff 3 bedroom condo is around 60,000 per month. But for that you need to spend 12,000,000 baht buying it and then putting in furniture, re-decorating etc. Then you have to buy agents commission of one month per year to find you a tenant. So your 60,000 baht x 12 = 720,000 minus one month so 660,000 baht. Less condo fee's - say 22 baht per square meter in 200 sq m apartment = deduction of another 52,800. So now your down to 608,000 per annum. Now factor in an average of one month being unoccupied per year, so another 60,000 down and now your at 548,000. Now factor in cost of furniture for the condo. Assume, 2 months rent per annum over 3 years, so 120,000 baht in year one and your down to 428,000 baht. 428,000 divided by purchase price of 12,000,000 = 3.5% per annum.

3. You could look at cheaper condo's but then invariably thats a different type of tennant. e.g View Talay condo's - there your looking at more short term holiday lets with the potential hassle that go with them. What happens if someone decides to jump off your balcony, have a fight with a girl and trash the apartment or dissapear in the middle of the night without paying the rent. All quite possible and unless your litteraly watching them like a hawk, very difficult to control.

So yes you can do it and some people have done quite well out of it. From those I know that do it, they tend to buy off plan about 6 units all next to each other and get in earlier enough to get the condo under foreign ownership rules. They then rent out the condo, all the while living down the hall and then some of them sell on after saying renting it out for 2 years in the hope that the capital value has gone up. Some people at View Talay in particular have done very well out of this scenario but they are retired, have nothing else to do and look upon it more as a hobby/business interest.

The above is based on Pattaya/Jomtien values - Phuket and BKK tend to be more expensive however the yield is not that much different. So in terms of value Jomtien/Pattaya is the right place to do it compared to the others but I am not convinced the return is worth the risk. For me, I cannot sit and look over the tenant all the time.

Male circumcision could fight AIDS

Don't be so shy, cut the whole thing off -> problem solved :D

An Australian HIV/AIDS expert says male circumcision is being ignored as a method of preventing infection with the deadly virus.

Professor Roger Short of Melbourne University said there was plenty of evidence to suggest male circumcision reduced the risk of HIV.

...

"At this point circumcision is the single most effective protection against HIV infection that we know of and it has huge implications for how we can prevent the disease all over the world."

Research had shown more than 50 per cent of HIV infections were due to lack of circumcision, he said.

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Which research? Which evidence? I'm following the research here for a long time, desperately looking for scientific research proving anything here. I do not even find studies proving the exact way of infection, so where does this guy find his evidence?

I'm not aware of any study comparing the infection rate of uninfected men, a group of them circumcised, another group not, all having traditional sex (not anal or oral, of course) with a group of women, from which a part is HIV positive, and a part not. The usual double blind procedure. Hmmm, difficult to imagine that he finds volunteers for such a study. In other words, Prof. Short is probably short of volunteers

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If you look in the heath forum under title: How bad is AIDS in Thailand I posted a link to a report which proved transmission rates are far lower in circumcised men than those who are not circumcised. The report is pretty old but facts speak for themselves.