steven100

Just now, moontang said:

11000?  what about the bed and a/c?  

11,000 was for bed, matress and cupboards, tv stand etc ....  yes, aircon was additional 11,000 also. Still, he painted it with a friend on a Sunday .... aircon monday and new floor tiles same week for 8,000bht.  All up 30,000 .... and he has a brand new room for rental.

4 minutes ago, moontang said:

400k purchase...land office fees?  cost to refurbish?  that furniture will be worthless in two years...Will need new paint too.  

yes ......  correct on land office fees which is 24,000 baht, I forgot that .... but still not so bad.

refurb was only 11,000 baht, and i would expect paint to last more than 2 years.....   surely 5 at least if non smokers.

3 minutes ago, moontang said:

a 400k room renting for 3650 per month?  That is overly optimistic, and more than they would pay outside of bkk.  deduct 40% from the gross to get net...if not 50%...you  have barely allowed enough for taxes in your calculation.  insurance, condo fee?  management , vacancies, 

As mentioned in another post,  a friend just bought a room, just did new paint, aircon, floor, furniture, and offers at 4,000 from several friends. I think your 40% deduction off gross is very high .....   Condo fee is paid by the tennant,  insurance is not high in Thailand and management could be done by my Thai collegue.  So I think 20% deduction may be more accurate. But I'm just saying based on other thais answers.

1 hour ago, tlandtday said:

I am glad someone sees a market for it.  With the Chinese competition and the headaches involved renting at lower rates this is a profession I would try to avoid:)

Not sure why you say headaches,  a thai friend just bought a room at a good price, painted it inside completely, new tiled floor,  new aircon, new furniture kit put in,  now he's had several offers from friend near and at his work to rent the room.

All done in a matter of weeks ......  nothing was a real headache, I didn't see one chinese competitor,  no issue renting at 4,000 baht. 

1 hour ago, KittenKong said:

There is a massive legal difference between apartments and condos here. Condos are a specific legal structure for residential property with individual ownership of each unit. Apartments are single ownership buildings that are divided into smaller units for rental purposes.

So being a single room in a block of units ..... therefore it's single room appartment i'm buying and letting  ??

1 hour ago, jackdd said:

At first you should understand the difference between an apartment and a condo

You can own as many condos as you want, but you need a management company to do the work for you (unless you set up your own management company and get a work permit)

So I would be renting out appartments not condos. ?  Appartments meaning a single room in a block of units.  ?   I pay a monthly commission to an agent as a management fee for finding tennants and handling the contracts for letting.  ?  I have a Thai friend who can manage all these requirement as he is not letting out a room he just purchased.

54 minutes ago, moontang said:

they may not accept TM30 from you as a foreign owner....that allows them to protect the Thai landlords.  Too many activities would be considered work..so anytime there is a situation, you would be in a three legged race with a thai...and I just addressed this in the bank rate thread, but don't ever calculate yields based on daily rates.

Not sure why I would even be involved with the TM30 .... as I would be renting to Thai students, not farangs. 

Any work that needs doing .... I would just have a thai fix or do the work.

As for the ROI, a 400k room can return 11% gross ..... or 8-9% net profit.

16 minutes ago, Gecko123 said:

My advice to women travelling in Thailand would be to exercise a higher degree of caution than you may have believed was adequate in the past. I believe the incidence of sexual assaults against women may be on the rise in Thailand. While the vast majority of Thai men are totally decent blokes, there is a growing underclass of Thai men who, having fallen through the cracks of the educational system and been raised in home environments with poor or non-existent parental supervision, often struggle to be reliable bread winners and to form households, have poor impulse control skills, and turn to alcohol and drug abuse to dull the reality of their lives, all risk factors which raise the risk of sexual assault. My reason for suspecting this may be a growing problem is that both income inequality and urbanization trends are accelerating, and these trends are exacerbating the number of children raised in single-parent or no-parent families, particularly in rural areas.

wouldn't '  beware of the scum '  been simpler to write.

Hi,

Who is knowledgable on foreigner condo ownership in Thailand for rental returns.

I am seriously thinking about purchasing 5-10 appartment rooms for rental.

I see a market there for students and lower end pricing for rental in the Lad Prao and Ramkhampang areas.

Obviously, one would have to pay Thailand tax ....

Is it possible and allowed ???  any pitfalls ???  any hidden annual costs to be aware of  ??

Thanks for any help.

Google AIA or any multitude of insurance companies within Thailand.

10 minutes ago, Billpro785 said:

Thanks for all the replies, the retirement visa might be the key. There are services on the web, and here that advertised getting visas, they even provide the 80k in the bank. Are they legitimate ? 

Just get a Multi entry Non-O-A from your home country. As posted above.

9 minutes ago, Billpro785 said:

Thanks for all the replies, the retirement visa might be the key. There are services on the web, and here that advertised getting visas, they even provide the 80k in the bank. Are they legitimate ? 

As Elviajero mentioned .... 

A Multiple Entry Non-Immigrant ‘O-A’ would be the best option if you can’t get a ME ‘O’. Only available in your home country or country of legal residence. 

If you’re prepared to transfer 800K to a Thai bank and keep it there, OR transfer at least 65K every month, you could; first enter with a Single Entry Non ‘O’ which would give you a 90 day stay, then within the last 30 days apply for a 1 year extension of stay.

best advice  !!   sell up as is ,  re-locate to another part of Hau Hin or Thailand and buy an existing dwelling and add to it if you so desire.

And most importantly .....  put this bad experience behind you ... everyone has a bad time during their life and things don't go as planned ... but that should give you more reason to toughen up and push that aside ....

Now get the heck outta there .... and try again.  !!

I'll be your friend .....

They should sack the goal keeper,  I see him make many mistakes and cost us some games.

56 minutes ago, marcusarelus said:

Money for sex/companionship. My Thai girlfriend has never asked for any such thing.

hahaha .........   good joke  !   ????

yes .....   ' but this one is different '  

1 hour ago, dotpoom said:

But when I became very sick (from the booze) not one of them ever came to visit me in the hospital

sorry to hear that, I would have visited you.

BTW ... i drink every day ...  what made you sick from the booze ??

18 minutes ago, from the home of CC said:

Getting to be more like the west every day, more and more useless arrests. They also just arrested some guy who was involved in providing palliative marijuana to the dying, proving my point that just because they opened the gate for pharma doesn't mean they're going to get reasonable about recreational. 

Not a useless arrest. Crystal meth dealer ... scum to most.

send them all to the Philippines.

he's a nice birdy .... 

Buy her a drink and food. Then go to the bar and forget about it.

She gets a meal,  mafia gets nothing .

16 hours ago, Thailand Outcast said:

well managed and balanced, non aggressive fund, returning around 6% to 8%.  Taking the average at 7%

Please show me the non aggresive balanced fund returning 7% that you are talking about.

I have 300K AUD to put up.