Popular Post Pilotman Posted July 12, 2019 Popular Post Share Posted July 12, 2019 (edited) 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. Edited July 12, 2019 by Pilotman 3 3 2 Link to comment Share on other sites More sharing options...
Popular Post brokenbone Posted July 12, 2019 Popular Post Share Posted July 12, 2019 my gambling has paid poor dividends the past 45 years, but im positive it will turn around anytime soon 5 6 Link to comment Share on other sites More sharing options...
bluebluewater Posted July 12, 2019 Share Posted July 12, 2019 I would hardly call those "investments" but it didn't cost you as much quid to fund those things then as it would now. 2 Link to comment Share on other sites More sharing options...
Popular Post Briggsy Posted July 12, 2019 Popular Post Share Posted July 12, 2019 (edited) 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! Edited July 12, 2019 by Briggsy 5 1 7 Link to comment Share on other sites More sharing options...
bkk6060 Posted July 12, 2019 Share Posted July 12, 2019 (edited) 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. Edited July 12, 2019 by bkk6060 2 2 Link to comment Share on other sites More sharing options...
Pilotman Posted July 12, 2019 Author Share Posted July 12, 2019 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. 2 Link to comment Share on other sites More sharing options...
Popular Post Briggsy Posted July 12, 2019 Popular Post Share Posted July 12, 2019 1 minute ago, Pilotman said: too difficult for a simple soul like me. Ignorance is bliss. Raise your glass to the simple life. ???? 3 1 1 Link to comment Share on other sites More sharing options...
Popular Post Pilotman Posted July 12, 2019 Author Popular Post Share Posted July 12, 2019 12 minutes ago, Briggsy said: Ignorance is bliss. Raise your glass to the simple life. ???? Now that I understand 2 1 Link to comment Share on other sites More sharing options...
NCC1701A Posted July 12, 2019 Share Posted July 12, 2019 8 minutes ago, Pilotman said: Now that I understand i thought i do good too. but we dumb. 1 1 Link to comment Share on other sites More sharing options...
Popular Post kevvy Posted July 12, 2019 Popular Post Share Posted July 12, 2019 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.. 10 2 Link to comment Share on other sites More sharing options...
Popular Post Pilotman Posted July 12, 2019 Author Popular Post Share Posted July 12, 2019 (edited) 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. Edited July 12, 2019 by Pilotman 3 1 Link to comment Share on other sites More sharing options...
BlackSwan Posted July 12, 2019 Share Posted July 12, 2019 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. 1 Link to comment Share on other sites More sharing options...
mike787 Posted July 12, 2019 Share Posted July 12, 2019 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. 1 Link to comment Share on other sites More sharing options...
Popular Post Leaver Posted July 12, 2019 Popular Post Share Posted July 12, 2019 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?" ???? 5 2 Link to comment Share on other sites More sharing options...
Popular Post madmen Posted July 12, 2019 Popular Post Share Posted July 12, 2019 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 ! 4 2 1 Link to comment Share on other sites More sharing options...
Popular Post Chazar Posted July 12, 2019 Popular Post Share Posted July 12, 2019 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???? 2 1 Link to comment Share on other sites More sharing options...
Chazar Posted July 12, 2019 Share Posted July 12, 2019 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 Link to comment Share on other sites More sharing options...
Popular Post Leaver Posted July 12, 2019 Popular Post Share Posted July 12, 2019 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. ???? 7 1 Link to comment Share on other sites More sharing options...
Popular Post Leaver Posted July 12, 2019 Popular Post Share Posted July 12, 2019 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. 3 1 Link to comment Share on other sites More sharing options...
madmen Posted July 12, 2019 Share Posted July 12, 2019 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. ???? 1 1 1 Link to comment Share on other sites More sharing options...
madmen Posted July 12, 2019 Share Posted July 12, 2019 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 2 1 1 Link to comment Share on other sites More sharing options...
BlackSwan Posted July 12, 2019 Share Posted July 12, 2019 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. Link to comment Share on other sites More sharing options...
BlackSwan Posted July 12, 2019 Share Posted July 12, 2019 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 ???? Link to comment Share on other sites More sharing options...
ocddave Posted July 12, 2019 Share Posted July 12, 2019 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 ???? Link to comment Share on other sites More sharing options...
lamyai3 Posted July 12, 2019 Share Posted July 12, 2019 (edited) 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. Edited July 12, 2019 by lamyai3 Link to comment Share on other sites More sharing options...
dootmah Posted July 12, 2019 Share Posted July 12, 2019 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... ???? Link to comment Share on other sites More sharing options...
jacko45k Posted July 12, 2019 Share Posted July 12, 2019 (edited) 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. Edited July 12, 2019 by jacko45k Link to comment Share on other sites More sharing options...
sometime Posted July 13, 2019 Share Posted July 13, 2019 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 1 Link to comment Share on other sites More sharing options...
Popular Post ThaiBunny Posted July 13, 2019 Popular Post Share Posted July 13, 2019 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? 3 Link to comment Share on other sites More sharing options...
FLHR Posted July 13, 2019 Share Posted July 13, 2019 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. 1 1 Link to comment Share on other sites More sharing options...
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