A positive story about buying a house in Thailand

[WhiteBuffaloATM]

Renting for 10- 15 years after Retirement here of course makes Zero financial sense unless you 

cant Buy.  You would by then, by not renting, have typically recovered the full property purchase price, whilst holding / using / selling / transfering your own House / Condo. Which Proper Owned Home you can renovate / furnish / expand / decorate / change as you wish. No series of quirky stress-inducing deposit -snaffling, claims- issuing Landlords. No Living with someone elses rubbish furniture & decor. No Control over MRO Costs or Quality. Never knowing when you are forced out on the move again. Of course Buying requires very much greater due diligence than Renting.

[Gecko123]

1 hour ago, khunPer said:

I'm mainly replying to your part "When you and the new buyer go to the land office, I'm picturing the registrar pulling out his title ledger, and finding the corporate papers which say the lawyer, the girlfriend and her mother are the owners..."

 

The case with a company limited as property owner is that nobody - as in no one - goes to the land department to re-register or transfer anything. It's the shares of the company that are sold, either the majority, and especially the vote right controlling amount, or preferably all shares.

 

Therefore, there might be no shady owners of somebody else's wife, or girlfriend, or nominees; the buyer(s) of the shares decide themselves who owns what, apart from only 49 percent fo the shares can be owned by a foreigner.

 

Of course you, or preferably your experienced Thai property lawyer, makes due diligence of the company limited to be taken over, which includes a visit to a land office to check the title deed for eventual servitudes.

 

A problem with the company limited method raises if the buyer don't need, or want, a company limited as owner - for example a Thai buyer, as a company limited involves costs to accountant and auditor - and preferably a company profit and some small amount of tax paid - in that case the property needs to be transferred at the land office. However, now the company shall pay tax - which might be business tax, as the property is owned by a company - and the buyer will normally pay transfer fee; stamp cost is negotiable, but often paid by seller.

 

Furthermore, the money paid for the property shall end up inside the company, which cause another problem. It's little more difficult to close a company limited than to open one, and can also be more costly, if you read various posting in ASEAN NOW forums. When liquidating the company limited the remaining funds, after everything have been settled, are paid back to the shareholders. The foreign owner is due to receive up to 49 percent of the funds, i.e. if owns up to 49 percent of the shares, while the other shareholders are due to receive the remaining 51 percent or more sum...???? - that's why using the old-fashioned, and now illegal, method with nominee shareholders might be a disaster in such a situation, much better if a wife/girlfriend, and a minor child or two, gets the money...????

Thank you for your detailed and informative reply. If I understand you correctly, as long as the future buyer is comfortable remaining within the confines of the corporate structure the OP has set up, the transaction can be completed completely removed from any land office review or scrutiny, but if the future buyer isn't comfortable with this corporate structure, the transfer to the new owner will have to be made down at the land office, and there may be tax liabilities and transfer taxes incurred in the process.

 

My question is:

 

"If a potential buyer preferred to transfer the property into their own name rather than leaving it in the name of the existing corporate entity, and the OP and new buyer thus needed to go to the land office to effect this transfer of ownership, wouldn't the OP more than likely need the cooperation of the lawyer/girlfriend/mother in order to smoothly accomplish this, and if any of the above persons proved to be unavailable or uncooperative, couldn't this potentially delay or prevent the sale of the property for a significant period of time?"

 

 

 

[jazzdog32095]

22 hours ago, rumak said:

YEP,  those are a few of the things that can go wrong.    I (who have been here many years) would not suggest the "business"  route to anyone.    The OP got a lot of "likes"  for his "positive post" .....

I do not think those posters know the pitfalls.

Almost ANY way in which a foreigner invests money in land or a house will not have an easy out IF the guy has problems with his lady.     There are exceptions, of course.  The guys who were fortunate enough to find an honest and long time sincere lady.  

Like all things in life........ things can change,  and with "love" ,   very often do.

It's often called home field advantage. It happens in many places. Besides that a big expensive has hanging in the balance puts enormous stress on both sides of a relationship. Never once heard of a Thai female demanding possession of a rental home.   

[Airalee]

Without knowing the exact location of the house and seeing pictures of it (a million baht buildout is nothing special) arguing over the rental value (which I too would bet isn’t 40k) and sales price is an exercise in futility.

 

So…without explicit details and photos, which the OP is unwilling to provide, this thread is useless.

[WhiteBuffaloATM]

Van stay Silent no longer with the Remter Trolls. Feeling genuine pity for the bitter Renters. Why dont you Buy ? No Capital ? Living on Pension alone. Sorry about that. Join a different club and leave us successful Owners alone. Yes we DO OWN our properties here. I have elected to go Leasehold OWNER with Freehold Option, Thai Company carefully structured is also FINE. Pointless explaining to Renters how……. you clearly dont want to inderstand….. 

 

Buying Infinitely better than Renting. Renting Permanently Anywhere is for Impoverished Sad Loner Losers, living without Children, Broken Addicts maybe, or those Not Understanding Basic Economics. 

 

Tired of your bitter envious whining on this and other threads here.Experts all  on miserable lowest Rents available on poky little places in rubbish areas. ” I pay 13k , ha! i pay 9k in same shabby block” .” No ! I lived in a shoebox for 1000 baht”. Pathetic.

 

Never Rented here. Never rented anywhere longer than six months. Enjoyed moving my two suitcases around Rome & Madrid on assignment to change apartments every month or so…….but here….never.

Sooner end it all in the river with concrete shoes…..

 

Are we DONE now here with “Renting” ? OP about Building & Owning House……

 

[transam]

6 minutes ago, WhiteBuffaloATM said:

Van stay Silent no longer with the Remter Trolls. Feeling genuine pity for the bitter Renters. Why dont you Buy ? No Capital ? Living on Pension alone. Sorry about that. Join a different club and leave us successful Owners alone. Yes we DO OWN our properties here. I have elected to go Leasehold OWNER with Freehold Option, Thai Company carefully structured is also FINE. Pointless explaining to Renters how……. you clearly dont want to inderstand….. 

 

Buying Infinitely better than Renting. Renting Permanently Anywhere is for Impoverished Sad Loner Losers, living without Children, Broken Addicts maybe, or those Not Understanding Basic Economics. 

 

Tired of your bitter envious whining on this and other threads here.Experts all  on miserable lowest Rents available on poky little places in rubbish areas. ” I pay 13k , ha! i pay 9k in same shabby block” .” No ! I lived in a shoebox for 1000 baht”. Pathetic.

 

Never Rented here. Never rented anywhere longer than six months. Enjoyed moving my two suitcases around Rome & Madrid on assignment to change apartments every month or so…….but here….never.

Sooner end it all in the river with concrete shoes…..

 

Are we DONE now here with “Renting” ? OP about Building & Owning House……

 

That reads like you've got or had a bird problem.....????

[khunPer]

36 minutes ago, Gecko123 said:

Thank you for your detailed and informative reply. If I understand you correctly, as long as the future buyer is comfortable remaining within the confines of the corporate structure the OP has set up, the transaction can be completed completely removed from any land office review or scrutiny, but if the future buyer isn't comfortable with this corporate structure, the transfer to the new owner will have to be made down at the land office, and there may be tax liabilities and transfer taxes incurred in the process.

 

My question is:

 

"If a potential buyer preferred to transfer the property into their own name rather than leaving it in the name of the existing corporate entity, and the OP and new buyer thus needed to go to the land office to effect this transfer of ownership, wouldn't the OP more than likely need the cooperation of the lawyer/girlfriend/mother in order to smoothly accomplish this, and if any of the above persons proved to be unavailable or uncooperative, couldn't this potentially delay or prevent the sale of the property for a significant period of time?"

"...wouldn't the OP more than likely need the cooperation of the lawyer/girlfriend/mother in order to smoothly accomplish this..."

 

No, a registered director with full power can sign for the company. The company limited sells a property, it's not an annihilation of the company limited. The director don't need to be shareholder - a director, i.e. board member, is elected by the general meeting, i.e. the shareholders majority of votes, and a director can have full power, or limited power - the director with full power can also issue a power of attorney to a lawyer, who can sign on behalf of the company in the land office.

 

In shell-companies for foreign ownership of property it's often the foreign major shareholder that also is registered as director, a company limited can have one or more directors.

 

The last in my previous post that you quote, talks about what happens when you close a company limited, to close you might need a higher vote majority than simple majority...????

[Pravda]

42 minutes ago, WhiteBuffaloATM said:

Van stay Silent no longer with the Remter Trolls. Feeling genuine pity for the bitter Renters. Why dont you Buy ? No Capital ? Living on Pension alone. Sorry about that. Join a different club and leave us successful Owners alone. Yes we DO OWN our properties here. I have elected to go Leasehold OWNER with Freehold Option, Thai Company carefully structured is also FINE. Pointless explaining to Renters how……. you clearly dont want to inderstand….. 

 

Buying Infinitely better than Renting. Renting Permanently Anywhere is for Impoverished Sad Loner Losers, living without Children, Broken Addicts maybe, or those Not Understanding Basic Economics. 

 

Tired of your bitter envious whining on this and other threads here.Experts all  on miserable lowest Rents available on poky little places in rubbish areas. ” I pay 13k , ha! i pay 9k in same shabby block” .” No ! I lived in a shoebox for 1000 baht”. Pathetic.

 

Never Rented here. Never rented anywhere longer than six months. Enjoyed moving my two suitcases around Rome & Madrid on assignment to change apartments every month or so…….but here….never.

Sooner end it all in the river with concrete shoes…..

 

Are we DONE now here with “Renting” ? OP about Building & Owning House……

 

 

As expected the you're too poor to buy guy shows up.

 

I own real estate in one of the most expensive cities in Canada and while I lived in Thailand the tenants in Canada completely paid off my mortgage. I would do it again, but unfortunately as non resident I am not allowed to buy second property without heavy tax implications.

 

I also started another thread where my wife owns a condo for the past 11 years. She did well renting it out before covid but now can't sell it for 20% loss. Meanwhile my Toronto condo doubled in price and had zero months without a tenant in the last 8 years with bidding wars all over the place 

 

Why would I buy in Thailand? It makes zero sense whatsoever. Perhaps you are a bitter owner?

[WhiteBuffaloATM]

explained separately here why it makes complete sense to Buy over a 10-15 year retirement period.

you’ve recovered your unpaid rent and left holding a capital transferable asset and enjoying a proper home.

[JustAnotherHun]

1 hour ago, WhiteBuffaloATM said:

Buying Infinitely better than Renting. Renting Permanently Anywhere is for Impoverished Sad Loner Losers, living without Children, Broken Addicts maybe, or those Not Understanding Basic Economics. 

 

Tired of your bitter envious whining on this and other threads here.Experts all  on miserable lowest Rents available on poky little places in rubbish areas. ” I pay 13k , ha! i pay 9k in same shabby block” .” No ! I lived in a shoebox for 1000 baht”. Pathetic.

 

And why so aggressive? Is there a fear deep inside you, your construction might not be as safe as you hope?

Fact is: The whiners are mostly home-"owners" blaming their wife/lawyer/someone because they lost their funds.

 

If you stay longer than a couple of month in Thailand, you should know few things are safe here for foreigners and for sure not home "owning" constructions that are attempts to bypass the laws.

 

I'm happy for everyone living his dream of a home here and I hope things work fine for them.

 

But if you want to be on a relatively safe side, buy a condo. a good one may cost much more than a home, but you're close to the town, not somewhere on the darkside.

Me and my family prefere the beachfront where you have fresh air from the sea instead of sitting in a village with polluted air.

When there was the big dryness some years ago and many villages ran out off water, we had no problem. When it's really hot and you are sweating to death as soon as you leave your airconed rooms, we just open our windows and enjoy the wind. Our aircons run maybe 3-4 times a year and not because we can not afford the extra electricity.

[WhatsNext]

Some people already said everything there is to say about the company structure, thanks. 

 

For me the rent value isn't an issue at all since I don't want to rent it out. If some people feel more safe renting then fine, I'm not trying to convince anyone to buy. 

 

I find it curious that this is such an issue in this discussion. I'm happy with the house, the tgf and her family. I'm convinced the company structure is fine as i know many many with the some setup some with a multiple of the value that i have in it.

 

No beginner mistakes about capital costs and maintenance, i said already that the 6m was dead capital to me as i Don't want all of my cash in the stock market. Banks in Holland charge your 0.5 interest, charge that is... Thank you ECB 

 

I've owned houses and companies before, I'm not gullible. The house is in Dusit project and new is new of course. The 50k deposit is nothing special and not dangerous. If you feel different, fine.

[jazzdog32095]

On 9/11/2021 at 4:39 PM, JBChiangRai said:

I can see one issue with the way you have constructed your company.

 

Your TGF can call a general meeting, the business being to remove you as a director, your TGF and her mother vote you out and then vote your TGF as sole director.  You've then lost your company and home.

I had an issue arise from a bar I bought were I set it up just as the OP has. It came to my attention later that as director merely signing off on necessary legal paperwork would be considered '' work'' and therefore a work permit would be required. Common sense tells me that these laws are written in order for Thais to be in the drivers seat. Very, very unlikely there were holes left open to circumvent the intent of the law. Having said that it's up to the OP the level of risk he is willing to live with. For many of us it is a none starter for at least a half dozen valid reasons 

 

[Airalee]

1 hour ago, Pravda said:

As expected the you're too poor to buy guy shows up.

Yup…never fails.  And they’re always soooo angry when somebody doesn’t join their backslapping group hug.   I love the term “bitter renter” too.  That was a favorite of the Realtors in the US from 2005-2007 on all the housing bubble blogs.

 

And I say this all as an owner of an overpriced Bangkok condo.

[Airalee]

27 minutes ago, WhatsNext said:

Some people already said everything there is to say about the company structure, thanks. 

 

For me the rent value isn't an issue at all since I don't want to rent it out. If some people feel more safe renting then fine, I'm not trying to convince anyone to buy. 

 

I find it curious that this is such an issue in this discussion. I'm happy with the house, the tgf and her family. I'm convinced the company structure is fine as i know many many with the some setup some with a multiple of the value that i have in it.

 

No beginner mistakes about capital costs and maintenance, i said already that the 6m was dead capital to me as i Don't want all of my cash in the stock market. Banks in Holland charge your 0.5 interest, charge that is... Thank you ECB 

 

I've owned houses and companies before, I'm not gullible. The house is in Dusit project and new is new of course. The 50k deposit is nothing special and not dangerous. If you feel different, fine.

You brought up the rent issue first.  I bought a condo here also with what you consider “dead capital”. But if you’re gonna start throwing numbers around without pics that can verify it, it’s really all quite pointless.

 

With regards to how you bought it….don’t care.  Not my problem.

[Pravda]

13 minutes ago, Airalee said:

You brought up the rent issue first.  I bought a condo here also with what you consider “dead capital”. But if you’re gonna start throwing numbers around without pics that can verify it, it’s really all quite pointless.

 

With regards to how you bought it….don’t care.  Not my problem.

 

He said dusit project. I checked one of them in Pattaya on fazwaz. Probably not the same project, but same developer. 200sqm Selling for just under 5 million, asking 25,000 a month ????. You could probably negotiate rent to under 20k. It looks very far, which means limited rental opportunities....which means low price.

 

 

Buying a property in Thailand is like buying a car in USA. As soon as you drive it from dealership you lose 25% of the value. Of course people in the past made money. They sold it at the perfect time.

 

 

[jazzdog32095]

On 9/11/2021 at 5:36 PM, khunPer said:

A comment about property ownership vs. renting.

 

If you have decided to be a long term resident in Land of Smiles - preferably after testing it for a while - then approximately 15 years of rent often equals what you shall invest in similar kind of property and location, including interest and maintenance.

 

The point being, that after around 15 years you have "not invested more than you can afford to lose in Thailand", as you would already have paid the sum in rent; so  OP is very right in his view of buying, instead of renting.

 

In some cases the period might be a few years shorter, and in other cases some years longer, depending on property a market prices for renting/leasing.

 

In other words, after the approximately 15 years are your costs to live in the property you "own" - one or other way - is down to maintenance costs, i.e. it's not free, especially as some things last less due to weather, wear and quality, than in many of our home countries, but it's often not more expensive than renting, rather a little cheaper; and as owner you have the benefit of freedom to do whatever you wish with the property.

 

In some cases you might be able to sell and get your funds back, remembering that in Thailand it's the land that increase in value, while buildings normally decrease in value.

 

Don't look at property in Thailand as "investment" - you might too easily bee disappointed - but be happy if you can get your "invested money" back - eventual adjusted for inflation, for example increasing with the consumer price index - that's what I'm counting with, and will be happy with, if I ever sell "my dream house in paradise"...????

You have omitted the fact that funds placed in a proper investment would more than double every 10 years. Couple this with the fact one can rent a far more expensive home all things being equal along with the not so grey area of ''tricks'' to circumvent the letter of the law. Finally lets' factor in the well earned reputation Thai ladies have for separating expats from their assets and it becomes difficult to currently place a positive spin on this deal. The mere fact the OP is attempting to own real property in a country that expressly denies ownership rights to non-Thais is taking on huge risks. Fact is there is a much greater chance of a negative rather than positive outcome down the road. Personally I sleep well paying rent here from airbnb income in countries that encourage 100% foreign ownership. 

[JustAnotherHun]

31 minutes ago, Pravda said:

Buying a property in Thailand is like buying a car in USA. As soon as you drive it from dealership you lose 25% of the value. Of course people in the past made money. They sold it at the perfect time.

 

 

Depends imho on what you buy and where. In my building the prices doubled between 2009 and now. Even with covid you must be very lucky to find one that's on sale - exept the overpriced penthouse and in that region the buyer market is always limited.

[khunPer]

3 minutes ago, jazzdog32095 said:

You have omitted the fact that funds placed in a proper investment would more than double every 10 years. Couple this with the fact one can rent a far more expensive home all things being equal along with the not so grey area of ''tricks'' to circumvent the letter of the law. Finally lets' factor in the well earned reputation Thai ladies have for separating expats from their assets and it becomes difficult to currently place a positive spin on this deal. The mere fact the OP is attempting to own real property in a country that expressly denies ownership rights to non-Thais is taking on huge risks. Fact is there is a much greater chance of a negative rather than positive outcome down the road. Personally I sleep well paying rent here from airbnb income in countries that encourage 100% foreign ownership. 

A proper investment - when talking about real estate - is investment in location, or future interest of location; and yes, I have taken that in mind.

 

"Investing" in a home might not always equal "proper investment", a home is a place you like to live, and you might not wish to sell it as long as you can afford to live in it, or as long as you are alive.

 

Yes, a good average hand rule about any investment is that it shall double it's value over a 10-year period; i.e. 6-7 percent average increase per year will double in 10 years, use the 72-rule, where you take 72 divided with average gain in percent, for example 7, then you have the number of years for a double-up. Investing in stock market, looked over very long time, fits well in the 10-year double-up formula with it's 6-7 percent average annual increase in value.

 

In Thailand a building lose value by age - it's value might increase a bit the first few years, and then it begins to loose - it's the land that increase in value. If you have "invested" in the right land plot your investment might increase it's value, or it might just equal what you invested - hopefully with gain of inflation - and also with gain of rent, or saved rent if you use your investment as home - depending of land size and value vs. building size and value.

 

However, if the land don't increase enough in value compared to loss on building, you in principle lose on your investment.

 

If you for example build a 3 million baht house in a rural village on a 300,000 baht land plot, you might not gain anything, you even risk of loosing money over a 10-year period. But if you instead build a 3 million baht house of a 6 million baht attractive beachfront plot, you might double your investment - or more - over 10 years.

 

If you read my later post about "location", you will see some actual examples...????

[WhatsNext]

I really don't like condo's, neighbors, noise, small, entertainment noise from outside. So it's a house for me. I like new houses with high class interiors.

 

The rent houses that i like are around 40k. My house looks like that. A lot of people here talk about 20k rent, i haven't found anything remotely resembling my house for that price. 

 

The Thai company for home ownership is everywhere if that goes wrong it will go wrong for everyone. If it does I'll lease it from tgf. I've been with tgf for 3 years almost and i trust her with my life.

 

If you still feel I'm wrong in my decision, up to you i don't care i feel comfortable and wanted to write a positive story. Some people agree with me, some are full of vitriol and negativity as would be expected on Thailand's most negative forum.

 

Thanks again for the positive guys.

[jazzdog32095]

58 minutes ago, Airalee said:

Yup…never fails.  And they’re always soooo angry when somebody doesn’t join their backslapping group hug.   I love the term “bitter renter” too.  That was a favorite of the Realtors in the US from 2005-2007 on all the housing bubble blogs.

 

And I say this all as an owner of an overpriced Bangkok condo.

As a developer and builder I have owned hundreds of properties many of which I don't remember. All were bought based on good reasoning. That same reasoning that told me banks were far to loose throwing around money 1995-2007. The same reasoning tells me illegally buying property in a country based on ''tricks'' involving a Thai GF and (LOL) her mother in the midst of a pandemic that has crippled much of the planet is not positive nor prudent. Remaining liquid makes far greater sense. 

[khunPer]

1 hour ago, jazzdog32095 said:

I had an issue arise from a bar I bought were I set it up just as the OP has. It came to my attention later that as director merely signing off on necessary legal paperwork would be considered '' work'' and therefore a work permit would be required. Common sense tells me that these laws are written in order for Thais to be in the drivers seat. Very, very unlikely there were holes left open to circumvent the intent of the law. Having said that it's up to the OP the level of risk he is willing to live with. For many of us it is a none starter for at least a half dozen valid reasons 

Work permit - in earlier time, it has changed a bit a few years ago - was a question of how high level you signed papers. On top level you never needed a work permit as director, in the meaning of board member, but in the level of managing director, you needed a work permit...????

[WhatsNext]

3 minutes ago, jazzdog32095 said:

 ''tricks'' involving a Thai GF and (LOL) her mother in the midst of a pandemic that has crippled much of the planet is not positive nor prudent. Remaining liquid makes far greater sense. 

Just like tens of thousands of others we have no problems owning a house in Thailand. I'm sure Anutin will not seize it next week

[JustAnotherHun]

18 minutes ago, WhatsNext said:

II've been with tgf for 3 years almost and i trust her with my life.

Good luck... ????

[jazzdog32095]

6 minutes ago, WhatsNext said:

some are full of vitriol and negativity as would be expected on Thailand's most negative forum.

Dude, not true at all. I just truly believe you failed to have a firm grasp of the obvious. Far too early to claim the undeniable risk you have taken can be deemed positive. In the right place and time REI is as good as it gets. In Thailand playing "tricks" to obviously circumvent the letter of the law in an investment with a history of diminished returns in the midst of a pandemic that saw Thailand lose 95% of its' tourist income is just not very smart.

[Elkski]

I didn't read the last 5 pages. But on the first page no one expressed that 40 k/ mo rent is a large number in these times.   House of cards.  Thailand is a time bomb

 

[jazzdog32095]

15 minutes ago, khunPer said:

Work permit - in earlier time, it has changed a bit a few years ago - was a question of how high level you signed papers. On top level you never needed a work permit as director, in the meaning of board member, but in the level of managing director, you needed a work permit...????

I was not about to leave that to interpretation since the obvious intent of the law is to impower Thais over farang. It you wish to hang your hat and visa on your interpretation good luck with that because it would not be  consistent with the intent behind the law.

[Denim]

3 minutes ago, Elkski said:

I didn't read the last 5 pages. But on the first page no one expressed that 40 k/ mo rent is a large number in these times.   House of cards.  Thailand is a time bomb

 

I guess it depends on what you rent , where it is located , and what you are accustomed to.

 

Whilst waiting for our home to be built in Petchabun we rented a 2 bedroom house with air con in both bedrooms for 2500 a month. But it had definitely seen better days. But hey, for 3 months no problem.

[fredscats]

3 hours ago, Pravda said:

 

As expected the you're too poor to buy guy shows up.

 

There was a guy up to a few years ago made statements along with yours "not a  pot to p.iss in" as to renters,  Naam to be exact, RIP to him.   Even he " The Magnificent One" was having severe second thoughts towards his ending, of ownership

 

The owner, no matter what schemes put together can be blown away in an instant,no security,no nothing,show up in court to prove entitlement  ..laughed off the court steps . Complete peace of mind in renting    (and its cheap) that nothing but nobody can get away with the loot spent on buying in this God forsaken place

[jazzdog32095]

24 minutes ago, WhatsNext said:

Just like tens of thousands of others we have no problems owning a house in Thailand. I'm sure Anutin will not seize it next week

Dude, fact is the law was clearly written to make it illegal what you have done and you stated it was done with bogus docs. It's like saying I've been having sex with my neighbors wife for 10 years and justifying it by saying '' tens of thousands have been doing the same thing''.  There is no such thing here as 'arbitrary and selective enforcement'. The mere fact you stated in a public forum, that I am pretty certain the powers that be monitor, that you used false documents could in of itself result in a less than positive experience. All you need to ask yourself is what was this law intended to do as opposed to what you did. Your defense that others did the same is quite weak. Stop digging.

[WhatsNext]

30 minutes ago, jazzdog32095 said:

Dude, not true at all. I just truly believe you failed to have a firm grasp of the obvious. Far too early to claim the undeniable risk you have taken can be deemed positive. In the right place and time REI is as good as it gets. In Thailand playing "tricks" to obviously circumvent the letter of the law in an investment with a history of diminished returns in the midst of a pandemic that saw Thailand lose 95% of its' tourist income is just not very smart.

You are partly right, the true positive can only be said after 8 years when I sell it again, but that's a long time to wait with writing.

 

I strongly disagree that the company route is a problem. My social circle in Thailand is maybe exceptional, about 90 percent of my friends own homes in exactly the same way, one of them totaling 80 million baht. 

 

Like i said in 8 years the value of the house really isn't important anymore. If due to some unforeseen crazy disaster i would lose the 6m tomorrow, it would be bad but not life changing.

 

Anyway my 2 cents, I'm aware I'm in a forum full of renters and bargirlboinkers (joke)