Strong Bhat Makes my 800,000 for my extension look a good investment

[Pilotman]

A Thai bank may now be a good place to park money for your visa.  I was getting less than 1% in a UK bank.  I transferred at 43 baht to the pound and it's now 38.5, so I'm already up on the previous savings rate. Of course it can't be touched unless I leave, which is always  possibility. My wife and I bought the house at 56 to the pound, so happy about that too. 

[brokenbone]

my gambling has paid poor dividends the past 45 years,

but im positive it will turn around anytime soon

[bluebluewater]

I would hardly call those "investments" but it didn't cost you as much quid to fund those things then as it would now.

[Briggsy]

The OP and I have a very different view on how to measure return on an investment. 

 

I could start a discussion on unrealised and realised gains but I feel this is not what the OP wants to hear.

 

Well done @Pilotman. You're up!

[bkk6060]

False conception.

 

It is a big investment as is your house into nothing.  Unless you cash out that account and sell the property now for what you paid for it.

Good for your thinking Pilot but a savy agent/buyer is taking the sliding Baht into consideration.

A good agent would recommend 30% less then what you paid for that house.

People have the misconception that this temporary slide in the exchange rate means they are making big money on their properties.  12,000 properties on the market now just in Pattaya area so I guess some buyers/agents are playing it smart. Sellers holding out without a clue.

 

But, if it makes you feel better/richer in your mind keep that thought.

[Pilotman]

2 minutes ago, Briggsy said:

The OP and I have a very different view on how to measure return on an investment. 

 

I could start a discussion on unrealised and realised gains but I feel this is not what the OP wants to hear.

 

Well done @Pilotman. You're up!

too difficult for a simple soul like me. 

[Briggsy]

1 minute ago, Pilotman said:

too difficult for a simple soul like me. 

Ignorance is bliss. Raise your glass to the simple life. ????

[Pilotman]

12 minutes ago, Briggsy said:

Ignorance is bliss. Raise your glass to the simple life. ????

Now that I understand 

[NCC1701A]

8 minutes ago, Pilotman said:

Now that I understand 

i thought i do good too. but we dumb.

[kevvy]

My home cost me a arm ad a leg , imported oven form italy , home theatre , chefs kitchen , but no way do I think it is an investment.It is our home and when I die it will be a home for my wife . Never thought from the start it is an investment .No one will buy a home like this in Chiang Rai and I knew this when we built it .As I said it is HOME.. 

[Pilotman]

3 minutes ago, NCC1701A said:

i thought i do good too. but we dumb.

well maybe not so dumb. I am very aware that I am a temporary visitor to Thailand and  moving cash out of the country is doable if needed, as is turning sellable assets into cash if needed. But like the previous poster, Kevvy, my house is my home, at least for now.   

[BlackSwan]

Friend thought he would sell his very nice house. Started around 13 mil thb and still no takers at 9 mil thb...

Apparently a new round of “investigations” into the old Thai company nominee holding property scam. If that ever gains traction there may be a flood of foreigner “owned” property hitting the market. 

[mike787]

Well, yes & no.  It just depends on how "you" look at it based on what you consider is a happy ROI (return on investment). Glad yo are happy though. 

[Leaver]

6 hours ago, Pilotman said:

My wife and I bought the house

Don't you mean, "My wife bought a house with MY 56 to the pound?"  ????

[madmen]

6 hours ago, bkk6060 said:

that this temporary slide in the exchange rate

You gotta be kidding !! The baht against the OZ dollar and most currencies . A 10 year chart that is quite devastating unless of course You were smart enough to liquidate back home and transfer your funds to Thailand but sadly there are dummies still posting even today to never put even one baht in a thai bank..idiots !

 

[Chazar]

7 hours ago, Pilotman said:

My wife and I bought the house at 56 to the pound, so happy about that too. 

Bought  all  my  properties at 72????

[Chazar]

6 hours ago, brokenbone said:

my gambling has paid poor dividends the past 45 years,

but im positive it will turn around anytime soon

Bet........it won't

[Leaver]

10 minutes ago, madmen said:

You gotta be kidding !! The baht against the OZ dollar and most currencies . A 10 year chart that is quite devastating unless of course You were smart enough to liquidate back home and transfer your funds to Thailand but sadly there are dummies still posting even today to never put even one baht in a thai bank..idiots !

 

Once again, historical data from long term stayers.

 

If you are so confident, how about you give a forecast for someone considering retiring to Thailand NOW, as in, 2019, and tell them what their Thai baht will be doing for them in the short to medium term, that is, when they can actually use it, after seasoning, and then be sure to explain to them that it costs them 400k, forever, on top of all the other rubbish they have to go through, just to get the retirement visa.

 

Then, please speak freely about the property market here, and what a great investment it is, and how you would have to be a "dummy" not to buy in.  ????

[Leaver]

6 minutes ago, Chazar said:

Bought  all  my  properties at 72????

But they are worth nothing, unless you can sell them, and good luck trying to move property here in the current market.

[madmen]

12 minutes ago, Leaver said:

Then, please speak freely about the property market here

What are you babbling on about/ Where did I mention property in your quote? The set has also performed well 

my prediction is based on charts and resistance and the historical low is 15 baht for my oz example 

 

it will get there but will take a few years at which point I will liquidate and take advantage of the OZ collapse of the property bubble and its banana republic currency rate. That goes for most of the western world which are on the brink of recession. 

????

[madmen]

19 minutes ago, Leaver said:

But they are worth nothing, unless you can sell them, and good luck trying to move property here in the current market.

Yeah right buying at 72 he must be a loser. Sounds like your a 4k a month room renter with that silly statement 

[BlackSwan]

I believe there is a draft bill saying that dormant (untouched after 10 years) bank accounts can be transferred to the finance ministry. I wonder how this affects deposits required for visa etc. Not to worry, the plan is your funds can be returned if you apply to the finance ministry for them. Although I suspect the paperwork may only be accepted under the correct lunar cycle or -insert other- conditions.

[BlackSwan]

1 hour ago, Leaver said:

But they are worth nothing, unless you can sell them, and good luck trying to move property here in the current market.

Yep, took me 2 years to find a buyer then 2 years interest free one time ????

[ocddave]

9 hours ago, brokenbone said:

my gambling has paid poor dividends the past 45 years,

but im positive it will turn around anytime soon

I'll bet you 800,000 baht that it won't ????

[lamyai3]

13 hours ago, Pilotman said:

I transferred at 43 baht to the pound and it's now 38.5, so I'm already up on the previous savings rate.

It feels pretty galling to transfer in at close to 38, the lowest rate in 22 years. But it's true, it's going down every week. It only needs to drop another 5-6% to 36.2, and it'll be officially the lowest rate since October 1985.

 

[dootmah]

6 hours ago, madmen said:

Yeah right buying at 72 he must be a loser. Sounds like your a 4k a month room renter with that silly statement 

It's so hard to borrow money through the good title as well here in this advanced society... ???? 

[jacko45k]

You will of course only realize a benefit if you send that money back out (and go with it). That doesn't work for the 800,000 as you need to have it each year. Similarly the house unless you sell and choose to rent. Had you brought in more cash at 43, you would benefit from spending that rather than bringing in more at 38.5

To me it highlights how bad it is to force people to bring in  65,000 each month whatever the rate is for their extension. 

Nice to be optimistic though. 

[sometime]

14 hours ago, Pilotman said:

well maybe not so dumb. I am very aware that I am a temporary visitor to Thailand and  moving cash out of the country is doable if needed, as is turning sellable assets into cash if needed. But like the previous poster, Kevvy, my house is my home, at least for now.   

And dont forget even if you sell the house for what you paid you have lived in it rent free for all those years

[ThaiBunny]

2 minutes ago, sometime said:

And dont forget even if you sell the house for what you paid you have lived in it rent free for all those years

But what's the opportunity cost?

[FLHR]

Spent a lot of dough on things like attached garage with all the fixings, rcbo's across the board, safe electrical installations from one end to the other, ect......... All worthless crap, a loss upon a sale.

Noise pollution has at least tripled since built & access to our area has become gantlets of death.

The return on this investment is rent free & creature comforts installed while I'm here, and something for my wife when I'm gone.