Buying a condo as a long term rental

[CartagenaWarlock]

On 1/5/2024 at 4:14 PM, mrblonde said:

I’m considering buying a couple of condos in Pattaya (outright) to rent out long term.  ROI am looking at 8% in most cases.  

Why not put in VOO and earn 20%. I sold all my real estate holdings in the US and put the money in VOO. More returns, no headache of renting, peace of mind, let the world's best business minds earn money for you. I realized the real estate is for generational wealth building, and since I don't have anyone to bequeath (except a daughter in Thailand) in the US, I am content with my decision. 

[ChaiyaTH]

On 1/6/2024 at 7:24 AM, ChaiyaTH said:

Better off buying bitcoin from it, you will become rich in a few years from it too.

11 ;laughed at this lol

[rexpotter]

On 1/6/2024 at 2:15 PM, Drumbuie said:

These forums are not really the best place for research, as the advice you'll get will range from 0-100% accuracy, with sporadic outbreaks of sarcasm, random insults and outright lunacy. 

 

 

 

Agreed, its a lot more complicated than you can imagine because laws are enforced arbitrarily here.

[Celsius]

7 minutes ago, ReynaldoZamora said:

Also, if you're looking for more investment opportunities or advice, you might want to explore options beyond just condos. For example, in Kingston, Canada, there's a strong market for student rentals, which could offer a different kind of investment opportunity. You can check out more information about student rentals in Kingston at https://axonproperties.ca/student-rentals-kingston/.
Overall, it sounds like you're on the right track with your investment plan.

 

hey thanks for that as I'm in Canada now.

 

The only problem is that if you are a non resident you will be paying 25% tax.

[Skipalongcassidy]

On 1/6/2024 at 5:14 AM, mrblonde said:

  non-paying tenants  

  

You will find many "non-paying tenants" here as well... many of them speak the King's English too.

[ADog]

On 1/5/2024 at 10:14 PM, mrblonde said:

My plan is to move out to Thailand permanently within the next 4 years, I’m currently 46.  I did have a buy to let flat in the U.K. (in South East) for a few years but the combination of increasing interest rates and the government targeting landlords I chose to sell up.
The way non-paying tenants are so protected in the U.K. was also a genuine concern.

I’m considering buying a couple of condos in Pattaya (outright) to rent out long term.  ROI am looking at 8% in most cases.  
When I move out to Thailand, I’ll move into one of them. 
With the way the West seems to be going, I’d imagine more people wanting to head East as they near retirement, keeping property prices stable (at worst).

 

I’ve seen other posts on here advising the stock market for an income but I have a SIPP and do not want all my future income (my Thailand retirement fund) tied to a potentially turbulent market.
 

are there any things to consider?  Anything to avoid?  

 

 

So you were renting a place for the bank, honestly you BTL lot have destroyed home ownership for the young in the UK.

 

The fact you can only make BTL work when interest rates are at zero percent, thanks to the BOE printing money to buy Uk bonds, tells me you're not really cut out for the world of business.

 

I bet you'd have been made bankrupt in 2008/9, if it wasnt for bank bailouts, ZIRP and printy print, yet lack the wit to realise you've been having a free handout at the expense of savers and future taxpayers.

 

But yes i do hope you buy some BTL's in Pattaya, maybe then for the first time in your life you'll find out what a "free market" actually is.