Buying Condos To Renovate

[johnson36]

A few members have mentioned that they have in the past or still are making a good return on investment on buying to renovate and selling condos in Bangkok. This has always been my plan for the future. The only bit I am unsure of is what is the best price range to be selling in ? ie: upto 2 million baht, 2 to 5 million or over 5 million baht. The other thing is what are the best areas to buy in in bangkok ? or to put it another way what areas should be avoided at all costs ? I am not looking to make massive profits, just a good return on investment. If I could buy, renovate and sell 3 properties in a year a profit of around 10 -20 % on total investment would be ok (on each one). For a total outlay of 2 million I would want to get back after all relevant taxes 2.2 - 2.4 million. I dont think this is been to greedy. For higher price condos the % could be lower.

Please advise me as to best areas to start looking in and best prices ranges. Advice from the members doing this would be great.

Edited September 25, 2007 by johnson36