Private Money Lending?

[Wranklefrankie]

I would like to know if there is anyone or does anyone know of a Private Money Lender? Say between 5-20million baht?

For Property Purchase in Phuket?

Thanks

[smartecosse]

let me check the cookie jar...............

[smartecosse]

nope sorry, its all gone.

Apparently the missus just had to send a whole village a new herd of Buffalo as they all got sick and died

[Wranklefrankie]

Well,

Just thought I would ask. I am American, and the Dollar to Baht is going to absolutely kill me.

I would rather borrow from a 'lender' at 10%. If I did it this way, I would come out better.

I am no financial guru, but the Dollar is killing those of us living abroad.

Sure wish I knew a Local Land Shark.

Any takers?

Oh well. Thanks Anyway.

[Naam]

Well,

Just thought I would ask. I am American, and the Dollar to Baht is going to absolutely kill me.

I would rather borrow from a 'lender' at 10%. If I did it this way, I would come out better.

I am no financial guru, but the Dollar is killing those of us living abroad.

Sure wish I knew a Local Land Shark.

Any takers?

Oh well. Thanks Anyway.

at 10% per month you'd "come out better"?

[N47HAN]

Well a pm may be warranted if backed by assurances ?

[JimmyTheMook]

I would like to know if there is anyone or does anyone know of a Private Money Lender? Say between 5-20million baht?

For Property Purchase in Phuket?

Thanks

There are plenty around but you need some sort of collateral to offer. Often land or home chanoots are used and the loan is written onto them, more often then not the borrower loses due to the very high vig.

So how much do you need and what have you got to offer?

[LivinLOS]

As stated whats the collateral ??

Also as stated expect very high rates of interest.. girls who I have seen borrow unsecured paid 5 for 4 (25%) each month !!

[Wranklefrankie]

I would like to know if there is anyone or does anyone know of a Private Money Lender? Say between 5-20million baht?

For Property Purchase in Phuket?

Thanks

There are plenty around but you need some sort of collateral to offer. Often land or home chanoots are used and the loan is written onto them, more often then not the borrower loses due to the very high vig.

So how much do you need and what have you got to offer?

Can we do this in private?

[phukethovercraft]

Why don’t you try and lend the money in your own country. I am thinking about doing the same thing.

[Wranklefrankie]

Why don't you try and lend the money in your own country. I am thinking about doing the same thing.

I don't think there is a bank/lender in the States that would loan money to purchase land, which, Thai law says I can't own, in Thailand.

The Vig is part of doing business. Unless it is a serious Vig. I am flexible, and willing to negotiate. Now, I am serious, if anyone can stake me, I would be interested in speaking with them. To get money out of savings in the states would be far to much of a hassle.

I want to buy some land. I want to use the land as collateral for the loan. When I pay it off, we transfer the title to my wife.

I would like to buy 2 - 4 Rai, on the Island, and I would only need the sale price of land minus what I have on hand in Thailand.

Serious inquires please.

[LivinLOS]

Why don't you try and lend the money in your own country. I am thinking about doing the same thing.

I don't think there is a bank/lender in the States that would loan money to purchase land, which, Thai law says I can't own, in Thailand.

The Vig is part of doing business. Unless it is a serious Vig. I am flexible, and willing to negotiate. Now, I am serious, if anyone can stake me, I would be interested in speaking with them. To get money out of savings in the states would be far to much of a hassle.

I want to buy some land. I want to use the land as collateral for the loan. When I pay it off, we transfer the title to my wife.

I would like to buy 2 - 4 Rai, on the Island, and I would only need the sale price of land minus what I have on hand in Thailand.

Serious inquires please.

Depending on the (over) value of the land.. 50% of its purchase price at 10% a month on the outstanding amount.

Title registered as having a legal lien against it.

[LivinLOS]

Last time I discussed a bridge load / seed money with a guy I know and trust.. 3m down got a guaranteed 5m back in 1 year or 7m in 18 - 20 months.. The guarantee was backed by property assets tho some was under construction.

Even though I know, like and trust the guy. The under development of the property aspect put me off.. Hes now made it into 7 or 8 apartments with high pricetags, easily 30m of assets now.

[simon43]

My wife has found a good way to get a repeating stream of income from a piece of land that we have in Phuket. She borrows money on the land from private lenders/developers who are interested in obtaining the land after 1 year when she 'defualts' on the repayment, (it's repayable with interest after 12 months). But at 11 months and 3 weeks she goes and finds a new money lender who offers to pay off the existing loan with interest, and to top up with another million baht or so. The first lender is happy because he gets his money back with all interest and then the new lender happily waits 1 year again.

All these loans are registered on the Chanote etc. The 'system' works because the fast increase in land prices here easily outsrip the interest charged for the loan.

Of course, at some time in the future, things will change and she will forfeit the land. But for a small pirce of land that cost her (me) 2 million baht some 5 years ago, we have already got 6 million baht back using this method.....

Simon

[LivinLOS]

Unreal.. What % return is she paying ??

As to the OP.. If he holds USD assets and is simply trying not to use them, he needs to get out of USD now.. Dollar is going to the toilet and that trend is going to accellerate this year.