Buying a condo to rent it out

[davidcraig]

I imagine you'll be using a local (possibly farang) agent to manage the property for you. I know two such agents in Pattaya. They are very very rich and the condo-owners very poor. I won't describe all the scams rental agents use to fill their bank accounts at condo-owners' expense. Just use your imagination. Thailand is NOT Holland, khow chai?

[tomyami]

I know a couple of hard cases in pattaya especially since the pandemic they bought condos for cash to rent out now they are all empty, google New Nordic scandinavin developer was protected by thai athorities know a guy who lost 2 condos there.

But they are building more new ones because the old will never sell eventually become a vacant building.

Lived there for 12 years havent met 1 owner who didnt regret buying which is why i never did.

[scubascuba3]

3 hours ago, Scouse123 said:

 

 

Samut Prakan would be OK, plenty factories and export companies with a good amount of staff not only from neighboring provinces but neighboring countries and if you are buying a cheap condo, it should be within budget in this location for the market.

 

It depends what rent you are expecting!  You can get 5% in a Cambodian bank as a foreigner in a USD account, without the headache, more if you invest in the microfinance companies, up to 8%.

 

It is a renters market in nearly all areas at the moment.

Investing in a Cambodian bank comes with risk hence the 5%

[jomtienisgood]

2 hours ago, Yellowtail said:

 

With an apartment "upstairs"...

With several apartments ' upstairs' ....

[Chris.B]

2 hours ago, OneMoreFarang said:

I suggest buy a bar. You will make a lot of money and you have all the fun. Win/win all the way. ???? 

 

Do you know any bars which "Dutch passport holders" can buy with US dollars? ????????

[Scouse123]

1 hour ago, scubascuba3 said:

Investing in a Cambodian bank comes with risk hence the 5%

 

Up to you or the investor.

 

This is a typical bank rate for Cambodia. The Asian Journal and the World bank both have a very positive outlook for Cambodia and often say so.

 

Cambodia is a steady developing economy with a good track record. I am with the longest established bank in the country, Canadia bank.

 

Nobody criticized the risk in Thailand during the Asian crisis offering 14% in the bank.

 

We can go further, why risk in shares? they can go down, why risk in property? there could be a crash and in fact, why invest or do anything at all?

[itsari]

8 hours ago, Destiny1990 said:

Where can i find and buy these 1,2 M bht condos that are fetching 230 usd..I am interested.

In the gentleman's  mind.

[jomtienisgood]

2 hours ago, Chris.B said:

 

Do you know any bars which "Dutch passport holders" can buy with US dollars? ????????

I know a few of them...

[itsari]

1 hour ago, jomtienisgood said:

I know a few of them...

 

1 hour ago, jomtienisgood said:

I know a few of them...

Fewer the better 

[WhiteBuffaloATM]

like Forrest Gump buying a worthless shrimp boat which will catch no shrimp....

” are you stupid boy or just plain crazy.?”

 

[Hanuman2547]

Personally, I would not invest in condos in Thailand and especially Pattaya with the hopes of having them rented out.  I think there are better avenues to explore in investing your money that have a lot less headache.  

[Yellowtail]

1 hour ago, smutcakes said:

To be fair there are still various crooks operating out in the open in Pattaya (and elsewhere) who somehow still lure people in.

 

Who are they?

 

[smutcakes]

2 minutes ago, Yellowtail said:

 

Who are they?

 

 

Dont be silly. Do your own research, i am not naming them.

[Yellowtail]

14 minutes ago, smutcakes said:

 

Dont be silly. Do your own research, i am not naming them.

 

Yes, silly of me, thanks anyways 

[Lacessit]

On 6/21/2021 at 11:07 AM, OneMoreFarang said:

I suggest buy a bar. You will make a lot of money and you have all the fun. Win/win all the way. ???? 

No no, he should stand under a cold shower and rip up banknotes. I hear that's what yachting people do.

 

 

[Yellowtail]

6 minutes ago, Lacessit said:

No no, he should stand under a cold shower and rip up banknotes. I hear that's what yachting people do.

 

 

 

A yacht WITH a bar!!!!

[jomtienisgood]

31 minutes ago, Yellowtail said:

 

A yacht WITH a bar!!!!

And rooms...

[Yellowtail]

6 minutes ago, jomtienisgood said:

And rooms...

 

UPSTAIRS!!!!!!!!!!!!!!!!!!!!

[jomtienisgood]

18 minutes ago, Yellowtail said:

 

UPSTAIRS!!!!!!!!!!!!!!!!!!!!

With private garden and Jacuzzi....and hairless masseuses.????????

[Yellowtail]

2 minutes ago, jomtienisgood said:

With private garden and Jacuzzi....and hairless masseuses.????????

 

Waxed hairless or chemo hairless?

[2 is 1]

Get girlfriend from most dark Isaan and buy land and house for her! Really good investment! Look first that girl have many tattoo, better if hole back has full! She is a "catch"!

[OneMoreFarang]

23 minutes ago, 2 is 1 said:

Get girlfriend from most dark Isaan and buy land and house for her! Really good investment! Look first that girl have many tattoo, better if hole back has full! She is a "catch"!

And make sure she is "different"!

[ThailandRyan]

3 minutes ago, OneMoreFarang said:

And make sure she is "different"!

Has to also have a brother that visits all the time and she gives money too....

[Yellowtail]

8 minutes ago, ThailandRyan said:

Has to also have a brother that visits all the time and she gives money too....

 

And who helps out while your away...

[OneMoreFarang]

Looking at the last 10 comments or so I wonder how a fresh TV user would interpret this - in the real estate and housing forum... TiT.

[itsari]

On 6/21/2021 at 9:22 AM, BritManToo said:

Thai rental market typically is at 2,500bht/month in Chiang Mai/Lampun area.

You are correct on the bottom end of the Thai rental market . Long way from correct for tenants that  want something more .

 

[shdmn]

The vacation property rental business has always been a risky proposition with no guarantees and lots of hassles.  Definitely not for everyone.

 

If I was to get into it I would probably want to be towards the more budget end of that.  Probably a lot easier to keep those booked.  I would also want to establish relationships with good reliable people who can take care of things when I am not around.  I think finding those reliable people who don't want to rip me off would probably be the hardest part.

[OneMoreFarang]

9 hours ago, shdmn said:

The vacation property rental business has always been a risky proposition with no guarantees and lots of hassles.  Definitely not for everyone.

 

If I was to get into it I would probably want to be towards the more budget end of that.  Probably a lot easier to keep those booked.  I would also want to establish relationships with good reliable people who can take care of things when I am not around.  I think finding those reliable people who don't want to rip me off would probably be the hardest part.

I would open a hotel if I would think I know how to make tourists happy. ???? 

[Pravda]

How does paying over 5 million baht for a condo and getting 12,000 baht in rent (if you are extremely lucky) sound like? 

 

That's how much I was paying pre covid. 

 

Why would you buy a condo for investment in one of the worst places on the planet? If you are buying to live that's another story. 

[Yellowtail]

10 hours ago, shdmn said:

I would also want to establish relationships with good reliable people who can take care of things when I am not around.

 

I can't find anyone that can take car of anything while I am around.

 

10 hours ago, shdmn said:

I think finding those reliable people who don't want to rip me off would probably be the hardest part.

 

One really has nothing to do with the other.