Is this a good time to buy a Condo?

[how241]

45 minutes ago, Leaver said:

If one of your cheap Thai tenants didn't pay the rent, and refused to leave, what would / could you do? 

First,  I would not insult them and say the are "Cheap"  as they might have fallen on to hard times, as many have recently done. I would talk with them and see how we could work things out.  If need be,  I would give them more time to pay.  If they are total <deleted> and will not even  try to work out some payment plan,  then the police can be called and will usually very quickly ask/tell the person to leave.  Thai's will usually not argue or fight with the police. Possibly a small 'thank you' would be given to the police for his help.  I have NEVER had the need to do this  BUT I am sure that you will tell me that this will soon be happening to my every condo.  More Gloom-n-Doom ....Aren't you bored yet ????

[how241]

17 minutes ago, Leaver said:

No argument from me there have been some profits made in the past.

So, did you make any of this profit ???   I really doubt it as for some, it is Never the right time to buy... There are ALWAYS profit to be made,  'IF'  you have the ability to see it and Take action.  Sitting and posting how bad things are and how they will soon be much worse will Never make you a profit,  unless you short the respective markets.  Most negative posters do nothing, buy and invest in nothing, and like to try and discourage others from taking chances and making some financial moves.  

[CanadaSam]

On 2/25/2020 at 2:17 PM, Airalee said:

Just a few years ago, people were talking about ฿400k condos being the norm at Nirun.

 

Exactly the same at Flybird. 

 

3 years ago, 400k, today, 800k.

 

I don't get it!

[wobblyjohn]

30 minutes ago, Leaver said:

No argument from me there have been some profits made in the past. 

 

Virus side, how relevant in the past to Thailand / Pattaya 2020?

What goes around comes around

I thought the baht would have dropped by now, maybe covid-19 will give it a kick and exchange rates will be more favorable I certainly hope so then everyone can enjoy the same as we did in 2020

My advice would be rent for a while in a building you think you might enjoy living with a view to buying later on

 

Things have changed too much for me so it was nice to leave with a profit but enjoyed my time in the sun but I also enjoy the quiet time I have now in blighty

Edited March 26, 2020 by wobblyjohn

[wobblyjohn]

12 minutes ago, how241 said:

So, did you make any of this profit ???   I really doubt it as for some, it is Never the right time to buy... There are ALWAYS profit to be made,  'IF'  you have the ability to see it and Take action.  Sitting and posting how bad things are and how they will soon be much worse will Never make you a profit,  unless you short the respective markets.  Most negative posters do nothing, buy and invest in nothing, and like to try and discourage others from taking chances and making some financial moves.  

I didn't plan it that way, it was for medical reasons I left for the UK I was just lucky I made a small profit after agents fees

If things were differant I would be there now in fact only a short time before we left we were looking to buy a house (wife got bored in the condo) and I would have been nice to have my own pool

[how241]

58 minutes ago, CanadaSam said:

 

Exactly the same at Flybird. 

 

3 years ago, 400k, today, 800k.

 

I don't get it!

The prices, in the older condos,  have risen up a lot in the past 4-5 years, as perspective buyers look at the much higher prices of the newer buildings and realize that they are getting a good deal on the older condos. Also, the monthly service/maintenance fees tend to be lower in the older condos.   

[Leaver]

1 hour ago, how241 said:

First,  I would not insult them and say the are "Cheap"  as they might have fallen on to hard times, as many have recently done. I would talk with them and see how we could work things out.  If need be,  I would give them more time to pay.  If they are total <deleted> and will not even  try to work out some payment plan,  then the police can be called and will usually very quickly ask/tell the person to leave.  Thai's will usually not argue or fight with the police. Possibly a small 'thank you' would be given to the police for his help.  I have NEVER had the need to do this  BUT I am sure that you will tell me that this will soon be happening to my every condo.  More Gloom-n-Doom ....Aren't you bored yet ????

You can personally attack me all you like, but as you have a few lower rent condo's, the time will come when you will be forced to evict someone.  That's just part of being a landlord. 

 

I hope you don't get stabbed over 4000 baht during "negotiations" with a Thai guy.   ????

[Leaver]

1 hour ago, how241 said:

 I really doubt it as for some, it is Never the right time to buy..

Not about the right time to buy, about the right country to buy in.  I have a few investment properties, none of which are in Thailand. 

 

1 hour ago, how241 said:

There are ALWAYS profit to be made,  'IF'  you have the ability to see it and Take action. 

Rubbish.  The subprime / GFC proved that.

 

1 hour ago, how241 said:

Sitting and posting how bad things are and how they will soon be much worse will Never make you a profit, 

My profit is being made elsewhere, where I have rights, and backed up by a proper legal system.

 

1 hour ago, how241 said:

Most negative posters do nothing, buy and invest in nothing, and like to try and discourage others from taking chances and making some financial moves. 

So many dreamers come to Thailand, and so many go home broke.  If they just kept their nest egg in their home country, where it is safe and working for them, they would still be here enjoying life.  Instead, many are back in their home countries on benefits.

 

I have investments, which like all investments have a risk v reward profile. 

 

Thailand is not an investment, it's a losing bet, and that's pre virus. 

[how241]

4 minutes ago, Leaver said:

You can personally attack me all you like, but as you have a few lower rent condo's, the time will come when you will be forced to evict someone.  That's just part of being a landlord. 

 

I hope you don't get stabbed over 4000 baht during "negotiations" with a Thai guy.   ????

Wrong !!!   Never happen ...I don't get into fights over small-change money.  There are many condo security that will gladly help out, if needed.  Last resort, the police.  I know that you REALLY  want there to be problems and try to shed NEGATIVE light every chance you can,  but the reality is that  you are just wrong.  This thread has degenerated into mostly  TROLLING by a few posters. 

[how241]

1 minute ago, Leaver said:

Thailand is not an investment, it's a losing bet, and that's pre virus. 

You couldn't be more Wrong !!!  Look at the amazing amount of capital inflows into this country that you belittle, every chance you get. 

How good-financially-  is your home country doing ?????   Do you really ever want to use your home country laws ???  and pay crazy high lawyer fees ???     I don't think so.  

[Leaver]

1 hour ago, wobblyjohn said:

I thought the baht would have dropped by now, maybe covid-19 will give it a kick and exchange rates will be more favorable I certainly hope so then everyone can enjoy the same as we did in 2020

Be careful what you wish for. 

 

For the virus to bring back the good old days for exchange rates, hundreds, if not thousands, would die.  It's not just about the shutdown of the tourism industry. 

[Leaver]

6 minutes ago, how241 said:

Wrong !!!   Never happen ...I don't get into fights over small-change money.  There are many condo security that will gladly help out, if needed.  Last resort, the police.  I know that you REALLY  want there to be problems and try to shed NEGATIVE light every chance you can,  but the reality is that  you are just wrong.  This thread has degenerated into mostly  TROLLING by a few posters. 

If I am so wrong, why are there hundreds of properties on the market here and nothing is moving?

 

By your posts, I can tell you obviously have a conflict of interest.  Are you a real estate agent?  ????

 

You are probably trying to dump your own condo at Nirun.  ???? 

[Leaver]

7 minutes ago, how241 said:

You couldn't be more Wrong !!!  Look at the amazing amount of capital inflows into this country that you belittle, every chance you get. 

How good-financially-  is your home country doing ?????   Do you really ever want to use your home country laws ???  and pay crazy high lawyer fees ???     I don't think so.  

My home country is doing ok.  Of course, the virus is sending the world into a global recession, if not depression.

 

Let's see how well Thailand comes out the other side, with its record household debt, and economy heavily reliant of the tourism industry. 

[how241]

4 minutes ago, Leaver said:

with its record household debt,

Again,  totally wrong and misinformed...

[how241]

10 minutes ago, Leaver said:

If I am so wrong, why are there hundreds of properties on the market here and nothing is moving?

 

By your posts, I can tell you obviously have a conflict of interest.  Are you a real estate agent?  ????

 

You are probably trying to dump your own condo at Nirun.  ???? 

Total wrong again !!! Good-bye,  TROLLING  time is over.  

[Leaver]

1 minute ago, how241 said:

Total wrong again !!! Good-bye,  TROLLING  time is over.  

So, you deny there are hundreds of properties on the market here.  Really?

 

It's you who is trolling.

[Leaver]

5 minutes ago, how241 said:

Again,  totally wrong and misinformed...

Again, total BS from you, while you are trying to sell your Nirun condo.

 

This article is dated November 2019.  Thailand is in for a hard landing. 

 

https://thethaiger.com/hot-news/economy/thai-household-debt-hits-all-time-high-of-340k-baht-per-house

Edited March 26, 2020 by Leaver

[how241]

13 minutes ago, Leaver said:

So, you deny there are hundreds of properties on the market here.  Really?

It would NOT be a 'market'  if there wasn't many buyers and sellers.  Are there no properties for sale on your home country ???   Sure !!!  People will always need a place to live, especially low-priced rentals...Maybe you soon will be one of my customers, especially with the downturn affecting the world.  People living off their investment income might soon need to downsize.  I will let you know when and if I have something available for you. 

[Leaver]

6 minutes ago, how241 said:

It would NOT be a 'market'  if there wasn't many buyers and sellers.  Are there no properties for sale on your home country ???   Sure !!!  People will always need a place to live, especially low-priced rentals...Maybe you soon will be one of my customers, especially with the downturn affecting the world.  People living off their investment income might soon need to downsize.  I will let you know when and if I have something available for you. 

There is no market here.  It's all sellers, and no buyer, and that's pre virus.  That's not a market. 

 

Now the virus has hit, and employment has dried up, I'm sure you will have a lot of availability shortly. ????

[how241]

7 minutes ago, Leaver said:

There is no market here.  It's all sellers, and no buyer, and that's pre virus.  That's not a market. 

 

Now the virus has hit, and employment has dried up, I'm sure you will have a lot of availability shortly. ????

Wrong again,  Mr. Gloom/Doom....Stop by the Land Office anyday and you will see Lots of buyers/sellers making transactions.  You just keep renting.  It takes available money to buy. Anyone can scrap up a few baht to pay their monthly rent. 

[jacko45k]

9 hours ago, Leaver said:

My profit is being made elsewhere, where I have rights, and backed up by a proper legal system.

A system that makes in nigh impossible to get tenants out, and they stay without paying. That is the UK of late. 

[Leaver]

16 hours ago, how241 said:

Wrong again,  Mr. Gloom/Doom....Stop by the Land Office anyday and you will see Lots of buyers/sellers making transactions.  You just keep renting.  It takes available money to buy. Anyone can scrap up a few baht to pay their monthly rent. 

Probably Thai's buying cheap housing. 

 

Look at the hundreds, if not thousands, of properties for sale here.  Nothing was moving, pre virus.

[Leaver]

8 hours ago, jacko45k said:

A system that makes in nigh impossible to get tenants out, and they stay without paying. That is the UK of late. 

There is certainly some truth to what you say, but my investments are diversified.  They are not all in property.  So, if I have some tenants not paying rent, I still have income from other sources. 

[how241]

12 hours ago, jacko45k said:

A system that makes in nigh impossible to get tenants out, and they stay without paying. That is the UK of late. 

I had a nice man say in my condo for several years.  He had to fly back to UK  as the people who were renting his house stopped paying for a long time.  He had to hire a lawyer who told him he must fly back and live in his house OR  he runs the risk of LOSING  his house under the 'squatters law'...There was more to this crazy story BUT the bottom line is he lost a LOT of money, with unpaid rents, unpaid utilities, lawyers fees, airplane tickets.  Strange that there are people on this board that think their home country, with laws that can be used against him, is better or safer than Thailand.  I can call security or the police and have some removed for a 500 baht tip, and they will be gone in 1 hour.  I have seen this done several times by friends of mine that rent out places.  The crazy laws and crazy high priced lawyers is why I stopped doing real estate in the USA.  Thailand is 1000% better, in my opinion.

[how241]

3 hours ago, Leaver said:

There is certainly some truth to what you say, but my investments are diversified.  They are not all in property.  So, if I have some tenants not paying rent, I still have income from other sources. 

Again,  your missing the point.  It is  NOT about the lost of rent money or unpaid utilities, BUT  the legal fees and court cases that can drag on for years.  My UK renter house/squatter case went on for years and costs him Thousands of pounds, just to reclaim HIS OWN HOUSE...and you like laws...haha...I had a nice man say in my condo for several years.  He had to fly back to UK  as the people who were renting his house stopped paying for a long time.  He had to hire a lawyer who told him he must fly back and live in his house OR  he runs the risk of LOSING  his house under the 'squatters law'...There was more to this crazy story BUT the bottom line is he lost a LOT of money, with unpaid rents, unpaid utilities, lawyers fees, airplane tickets.  Strange that there are people on this board that think their home country, with laws that can be used against him, is better or safer than Thailand.  I can call security or the police and have some removed for a 500 baht tip, and they will be gone in 1 hour.  I have seen this done several times by friends of mine that rent out places.  The crazy laws and crazy high priced lawyers is why I stopped doing real estate in the USA.  Thailand is 1000% better, in my opinion.

[how241]

3 hours ago, Leaver said:

Probably Thai's buying cheap housing. 

Glad to finally see that you agree with me.  'Cheap housing' is what I buy/sell/rent.   

[Leaver]

2 minutes ago, how241 said:

Again,  your missing the point.  It is  NOT about the lost of rent money or unpaid utilities, BUT  the legal fees and court cases that can drag on for years.  My UK renter house/squatter case went on for years and costs him Thousands of pounds, just to reclaim HIS OWN HOUSE...and you like laws...haha...I had a nice man say in my condo for several years.  He had to fly back to UK  as the people who were renting his house stopped paying for a long time.  He had to hire a lawyer who told him he must fly back and live in his house OR  he runs the risk of LOSING  his house under the 'squatters law'...There was more to this crazy story BUT the bottom line is he lost a LOT of money, with unpaid rents, unpaid utilities, lawyers fees, airplane tickets.  Strange that there are people on this board that think their home country, with laws that can be used against him, is better or safer than Thailand.  I can call security or the police and have some removed for a 500 baht tip, and they will be gone in 1 hour.  I have seen this done several times by friends of mine that rent out places.  The crazy laws and crazy high priced lawyers is why I stopped doing real estate in the USA.  Thailand is 1000% better, in my opinion.

Is English your first language?

 

It's about the WHOLE PROPERTY, not just someone defaulting on the rent. 

 

Say next week the Thai government starts enforcing the use of Thai nominees to own property.  What does that do to the value of YOUR property, even though you haven't set up a Thai company to own the property.

 

There's a long list of things that have been going on in a "grey area" with property here.  They could change them with a stroke of a pen in Bangkok.

 

In western countries, the law is there, and basically remains unchanged.  You use it to base your decisions upon. Here, it's anyone's guess what will be tomorrow.  

 

Look at The Base condo's.  Prior to the virus, if they enforced daily rentals, most would be empty and worthless, virtually overnight.  

 

Stop trying to sell your Nirun condo on this thread and place an advertisement in the classified section.  ????  

[Leaver]

9 minutes ago, how241 said:

Glad to finally see that you agree with me.  'Cheap housing' is what I buy/sell/rent.   

And the bottom is just about to fall out of it, admittedly, through no fault of your own. 

[how241]

26 minutes ago, Leaver said:

Say next week the Thai government starts enforcing the use of Thai nominees to own property.  What does that do to the value of YOUR property, even though you haven't set up a Thai company to own the property.

 

There's a long list of things that have been going on in a "grey area" with property here.  They could change them with a stroke of a pen in Bangkok.

haha...Say they  DON'T  do any of the things you are suggesting.  I heard similar talk since I first arrived in Thailand 11  YEARS ago.  Yes, they made changes to the Thai co. laws,  but I never used them anyway and it doesn't affect me.  More of your Gloom/Doom talk about what 'Might' happen.  People always need  a low price place to stay and I will continue to collect their rent money.  If you bothered to read/understand the post I made about my UK renter and his house/squatters problem, you can easily see that it will take him YEARS to make up for the lost rental money and legal fees.  Also, he had a nice life here with a long-term Thai lady that he was forced to say goodbye,  due to your wonderful laws that have been turned around against a honest home owner. There are good and bad in Thailand  BUT I find most times the available corruption works for me, not against me. It's nice to have the option to pay a small 'fee'  and have your problems quickly go away.  Try that in your country of Laws ...lol...Good Luck...Stop posting what you think 'might' happen and stay with what has actually happened.  Many bars and big restaurants and hotels are owned under co. name. and have been for MANY years...

Edited March 27, 2020 by how241

[how241]

32 minutes ago, Leaver said:

And the bottom is just about to fall out of it, admittedly, through no fault of your own. 

You must be a super expert  and also have a crystal ball to know these things.  So I assume you are heavily shorting the Thailand builders and real estate companies...Of course your not...Just a lot of talk.