As A Foreigner Why Is "buying" Better Than Renting?

[Naam]

The main advantage of owning a home is the psychological factor of 'having a home' but in Thailand, lol, you still have to leave every 3 months so what is the point?

the point is that not everybody has to leave every three months. as simple as that

[Naam]

I'd rather have a pile of liquid cash than a rundown old place to live.

as it was mentioned several times it all depends on the individual priorities. personally i prefer a pile of liquid cash AND a brand new house in a top location which was built according to my plans and in which i feel very comfortable.

As long as your prepared to walk away I see no problem. Sounds like a cliche but there is a good reason that is the mantra in Thailand.

"walk away" = yaaawwwwwn...

I guess the best reason to not buy a house is: NOT LEGAL.

If you must own property, but it in a stable country.

rubbish does not turn into a fact even if repeated a zillion times we own our house (which is registered in our names) LEGALLY and that without any IFS or BUTS! the company owns the land on which the house is built. having said so, i admit that we are not completely happy with the situation but we are happy with our home and we knew what kind of risk we were taking when making the relevant decision.

[mikethevigoman]

I mostly agree with Crossy although I do believe and have heard of people who get rental rates that are low compared to the purchase price of property.

IMO if you are not married to a Thai then the only way I would buy property in Thailand would be either a condo in my own name or a house purchased via a company. I would only do the company purchase if I actually started a company that was actively involved in a business unrelated to real estate such as exporting of Thai goods.

I personally would never rent a property for 30 years since rental rates are very low.

i also agree with crossy although i think 21k might get u a better house than 2.1 mill value but again depends what area.

donx.....if rental rates are really low then isnt that a good reason to rent...or am i not understanding...do you mean you wouldnt rent out a property for 30 yrs as return not that good???

im not sure where you guys are commenting on rental prices versus purchase price but we have just spent a week taking friends around pattaya area and the rents are lower than your rent/buy scale, they actually ended up getting a house valued ( by a thai estate agent unrelated to our business ) at 11 mill for 30000 a month, seemed like a good deal, they are here for a 12 months only and didnt want rent a 1 mill house or buy, cant say i blame them,.

[mikethevigoman]

From the point of view of average local folks (and you'd be surprised how many people are just a few strokes of bad luck away from "average"), the people who are renting today are the people whose parents, grandparents, great grandparents, etc. chose to rent instead of buy. They can likely expect more of the same for the next generation.

This is exactly the same as the generations of buyers that have moved here and bought and been ripped off/ lost their money,.getting into habits can cause problems,.they buy for the comfort factor, an Englishmans home is his castle and all that, when some have bought a sand castle that has disapeared with the tide,.for non businessmen ( buyers not looking /or having the experience to speculate well ) i would say buy if you must but consider it a gift for the wife and somewhere to live,.

[Heng]

From the point of view of average local folks (and you'd be surprised how many people are just a few strokes of bad luck away from "average"), the people who are renting today are the people whose parents, grandparents, great grandparents, etc. chose to rent instead of buy. They can likely expect more of the same for the next generation.

I would agree to that if i was a Thai and this really was my country ,The case of being of a foreigner is that you really are restricted to what you can call your own place , I am not sure even in the Condo where foreigner may buy under their allocation if they actually own a small part of the land it is built on??

But otherwise with such restrictions ,buying a family home is not IMO the best option for say a foreigner living in Thailand , I rent in Thailand but invest in property overseas , at least when i buy in Europe and Australia, i can own the land and buy on equal terms to other buyers ,

Of course. That's why I said "from a local point of view." However though, for those who plan or care for their children or children's children, IMO it's a crucial investment. Kind of like not being able to be President in America if you're an immigrant... one doesn't force their children to renounce their citizenship just because there are some restrictions on being a first generation immigrant.

[Heng]

From the point of view of average local folks (and you'd be surprised how many people are just a few strokes of bad luck away from "average"), the people who are renting today are the people whose parents, grandparents, great grandparents, etc. chose to rent instead of buy. They can likely expect more of the same for the next generation.

This is exactly the same as the generations of buyers that have moved here and bought and been ripped off/ lost their money,.getting into habits can cause problems,.they buy for the comfort factor, an Englishmans home is his castle and all that, when some have bought a sand castle that has disapeared with the tide,.for non businessmen ( buyers not looking /or having the experience to speculate well ) i would say buy if you must but consider it a gift for the wife and somewhere to live,.

I think these folks are in the minority, since a good majority of land/property owners (by value, not by total area perhaps) here are 2nd to 5th generation immigrants. Indeed, getting ripped off/losing their money is perhaps a norm or at least a fairly common occurence in some groups of foreigners, but I think even in those groups there are more than plenty of examples of those who DO indeed make good choices in local spouses or partners and succeed in starting their own legacies and getting their next generation of their family off to a good start.

Edited April 4, 2008 by Heng

[MJo]

Heng,

I'm a bit confused about your post. If it were the case where you could borrow money cheaply in Thailand on a fixed rate mortgage like you could do in other countries, and you had the choice of paying a monthly rent of 40,000 baht or a monthly mortgage of 46,000 then I think it would be clear to buy. But in Thailand, you must pay in cash.

You can rent homes in Thailand for 1/200 of the price to buy. So... 20 million baht to own and 100,000 month to rent, 1.2 million a year in rent AND now you place your 20 million baht in the stock market and as long as you beat 6%/year you will show a profit without any of the risk associated with owning a home in Thailand.

You are also not stuck in one place and you do not have to worry about finding a seller later on down the road.

Also, if real estate becomes more expensive it probably means the economy is expanding and doing well, that means that its unlikely that the Thai housing market will out pace the world's global economies.

I have seen people on here make the comment "I have made X baht the last 3 years"... If they looked at what a handful Index funds in emerging markets returned during this global bull market, they'd see that they only made a fraction of what they could've.

Bit confused here as well, which one carries higher risk. Buying property in Thailand or investing 20M to the stock markets?

Hope you are not talking about thai stock markets

Edited April 4, 2008 by MJo

[Heng]

Heng,

I'm a bit confused about your post. If it were the case where you could borrow money cheaply in Thailand on a fixed rate mortgage like you could do in other countries, and you had the choice of paying a monthly rent of 40,000 baht or a monthly mortgage of 46,000 then I think it would be clear to buy. But in Thailand, you must pay in cash.

You can rent homes in Thailand for 1/200 of the price to buy. So... 20 million baht to own and 100,000 month to rent, 1.2 million a year in rent AND now you place your 20 million baht in the stock market and as long as you beat 6%/year you will show a profit without any of the risk associated with owning a home in Thailand.

You are also not stuck in one place and you do not have to worry about finding a seller later on down the road.

Also, if real estate becomes more expensive it probably means the economy is expanding and doing well, that means that its unlikely that the Thai housing market will out pace the world's global economies.

I have seen people on here make the comment "I have made X baht the last 3 years"... If they looked at what a handful Index funds in emerging markets returned during this global bull market, they'd see that they only made a fraction of what they could've.

I think one flaw with that line of thinking is that it's assuming that it's an either/or decision. While I'm not a fan of the stock market (anywhere), I do keep a fairly decent balance between real estate holdings and fixed currency time deposits offshore.

Also, for myself, I don't think one should even attempt to buy a home (or any other capital purchase) unless they can pay cash or if mortgaged/financed, that they can pay off that mortgage within a year or two. I usually advise 'if it's anything other than cash or short term bridge financing, you really can't afford it.' I also don't believe in buying real estate with the intent to sell it, unless the returns are in the "crazy" range, so it's difficult to compare to anything in the 4-12% range as I'd say those are just "normal acceptable" returns calculated per year or over a few years. For real estate, I try to visualize what my grandchildren will be able to do with it, what are the chances of the city expanding this way, what are the odds of a road being cut through here, etc.

Third, while the various index funds beat real estate holdings on paper, in practical terms many people (not all of course, there are plenty who can take advantage) cannot handle having the majority of their funds in a near liquid state. They almost always find some way to reduce or piss away those gains.

Naturally, one's results and personal financial theories may vary.

Edited April 5, 2008 by Heng

[Heng]

Heng,

I'm a bit confused about your post. If it were the case where you could borrow money cheaply in Thailand on a fixed rate mortgage like you could do in other countries, and you had the choice of paying a monthly rent of 40,000 baht or a monthly mortgage of 46,000 then I think it would be clear to buy. But in Thailand, you must pay in cash.

You can rent homes in Thailand for 1/200 of the price to buy. So... 20 million baht to own and 100,000 month to rent, 1.2 million a year in rent AND now you place your 20 million baht in the stock market and as long as you beat 6%/year you will show a profit without any of the risk associated with owning a home in Thailand.

You are also not stuck in one place and you do not have to worry about finding a seller later on down the road.

Also, if real estate becomes more expensive it probably means the economy is expanding and doing well, that means that its unlikely that the Thai housing market will out pace the world's global economies.

I have seen people on here make the comment "I have made X baht the last 3 years"... If they looked at what a handful Index funds in emerging markets returned during this global bull market, they'd see that they only made a fraction of what they could've.

Bit confused here as well, which one carries higher risk. Buying property in Thailand or investing 20M to the stock markets?

Hope you are not talking about thai stock markets

It depends. If you're middle aged and just now buying your first home, or buying a home that will be your only home, IMO that could be a relatively high risk purchase. You should probably stick to the global markets and renting here.

If it's a second or third, etc. home, less so. If you have a trustworthy spouse, less so. If you don't even know each other that well, more of a risk. And so forth. In other words, sometimes too much tunnel vision on the return %'s might be a bad idea, not too mention that country risk vs. market risk comparisons are going to be rather arbitrary anyway.

[PadThaiGuy]

Heng,

I'm a bit confused about your post. If it were the case where you could borrow money cheaply in Thailand on a fixed rate mortgage like you could do in other countries, and you had the choice of paying a monthly rent of 40,000 baht or a monthly mortgage of 46,000 then I think it would be clear to buy. But in Thailand, you must pay in cash.

You can rent homes in Thailand for 1/200 of the price to buy. So... 20 million baht to own and 100,000 month to rent, 1.2 million a year in rent AND now you place your 20 million baht in the stock market and as long as you beat 6%/year you will show a profit without any of the risk associated with owning a home in Thailand.

You are also not stuck in one place and you do not have to worry about finding a seller later on down the road.

Also, if real estate becomes more expensive it probably means the economy is expanding and doing well, that means that its unlikely that the Thai housing market will out pace the world's global economies.

I have seen people on here make the comment "I have made X baht the last 3 years"... If they looked at what a handful Index funds in emerging markets returned during this global bull market, they'd see that they only made a fraction of what they could've.

Bit confused here as well, which one carries higher risk. Buying property in Thailand or investing 20M to the stock markets?

Hope you are not talking about thai stock markets

I think investing in Thailand is too much risk. TIT is a well earned reputation.

We are only another coup away from this place becoming another Burma with some Junta like characters taking over.

What would happen when Islamic Extreemist start attacking Bangkok?

Crime is on the rise.

The resorts are getting trashed.

The nite life could get shut down.

Lack of legitimate Police force.

A recent shift in attitude of the Thais toward visitors.

The constant scamming of tourists.

Double pricing.

Lack of morals and integrity in doing business.

Massive human right violations.

Mafia controlling the Airport and Ministries.

And the classic line:

Never invest money in Thailand unless you can comfortably walk away from it.

Edited April 5, 2008 by PadThaiGuy

[Naam]

I think investing in Thailand is too much risk. TIT is a well earned reputation.

We are only another coup away from this place becoming another Burma with some Junta like characters taking over.

What would happen when Islamic Extreemist start attacking Bangkok?

Crime is on the rise.

The resorts are getting trashed.

The nite life could get shut down.

Lack of legitimate Police force.

A recent shift in attitude of the Thais toward visitors.

The constant scamming of tourists.

Double pricing.

Lack of morals and integrity in doing business.

- a tsunami could hit Chiang Mai

- al-Qaeda could expropriate all foreigners

- a meteor could hit Thailand

- dinosaurs could invade walking street in Pattaya

- prostitutes might ask 1,000 dollars for short time

- my wife might change her mind and approve a mia noi

- all boys in brown might become monks

- ThaiVisa server might break down

- Baht might be replaced by €uro

- Khmer Rouge might invade and fight the Pathet Lao invaders

- G.W. Bush might convert to Islam and migrate to Waziristan to run an extremist madrasa

- Pope might consider a canonisation of Thaksin

- i might stop liking Port and Sherry and switch to lukewarm Chang

[PadThaiGuy]

I think investing in Thailand is too much risk. TIT is a well earned reputation.

We are only another coup away from this place becoming another Burma with some Junta like characters taking over.

What would happen when Islamic Extreemist start attacking Bangkok?

Crime is on the rise.

The resorts are getting trashed.

The nite life could get shut down.

Lack of legitimate Police force.

A recent shift in attitude of the Thais toward visitors.

The constant scamming of tourists.

Double pricing.

Lack of morals and integrity in doing business.

- a tsunami could hit Chiang Mai

- al-Qaeda could expropriate all foreigners

- a meteor could hit Thailand

- dinosaurs could invade walking street in Pattaya

- prostitutes might ask 1,000 dollars for short time

- my wife might change her mind and approve a mia noi

- all boys in brown might become monks

- ThaiVisa server might break down

- Baht might be replaced by €uro

- Khmer Rouge might invade and fight the Pathet Lao invaders

- G.W. Bush might convert to Islam and migrate to Waziristan to run an extremist madrasa

- Pope might consider a canonisation of Thaksin

- i might stop liking Port and Sherry and switch to lukewarm Chang

I would like to nominate the above post as 'Dumbest Post of the Year'.

How do people find the time to post such nonsense?

[BigSnake]

Buying is great for your Thai wife, kids and extend family when you pass on. They are something to fall back on, for you just be happy and enjoy the ride.

[bingobongo]

regardless of what you decide to do, always remember that.....

Agreeing to pay a lender interest for the next 30 years, or 10,950 days (or whatever the terms of the mortgage are), in order to live in a home that is not yours does not make you a homeowner. It makes you a homedebtor.Putting little or nothing down and signing up for a loan does not make you a homeowner. It did not give you special status versus renters. It did not elevate you to a new class or socioeconomic status. It does not mean you have arrived.

HOMEDEBTORSHIP IS NOT HOMEOWNERSHIP

but if you own the property free and clear, then congratulations as you actually own it

[wolfmanjack]

Especially when Somchai opens a kareoke bar down the road and Ting opens a motorbike repair shop next door!

lol, thats why I plan on building my little dream house smack bang in the middle of the 50 rai hubby just bought. No chance in hel_l of any neighbours let alone ones who have a great idea for karaoke shop

The noise from the Karoake shops out in the country travels a long way.

[PadThaiGuy]

regardless of what you decide to do, always remember that.....

Agreeing to pay a lender interest for the next 30 years, or 10,950 days (or whatever the terms of the mortgage are), in order to live in a home that is not yours does not make you a homeowner. It makes you a homedebtor.Putting little or nothing down and signing up for a loan does not make you a homeowner. It did not give you special status versus renters. It did not elevate you to a new class or socioeconomic status. It does not mean you have arrived.

HOMEDEBTORSHIP IS NOT HOMEOWNERSHIP

but if you own the property free and clear, then congratulations as you actually own it

Agreeing to pay a lender for the next 30 years is a very wise choice.

That way, YOU OWN THE APPRECIATION.

My Ca. house increased in value $2,000 every week I owned it.

Buying real estate can be a good investment, but not in a third world bannana republic.

[Naam]

I think investing in Thailand is too much risk. TIT is a well earned reputation.

We are only another coup away from this place becoming another Burma with some Junta like characters taking over.

What would happen when Islamic Extreemist start attacking Bangkok?

Crime is on the rise.

The resorts are getting trashed.

The nite life could get shut down.

Lack of legitimate Police force.

A recent shift in attitude of the Thais toward visitors.

The constant scamming of tourists.

Double pricing.

Lack of morals and integrity in doing business.

- a tsunami could hit Chiang Mai

- al-Qaeda could expropriate all foreigners

- a meteor could hit Thailand

- dinosaurs could invade walking street in Pattaya

- prostitutes might ask 1,000 dollars for short time

- my wife might change her mind and approve a mia noi

- all boys in brown might become monks

- ThaiVisa server might break down

- Baht might be replaced by €uro

- Khmer Rouge might invade and fight the Pathet Lao invaders

- G.W. Bush might convert to Islam and migrate to Waziristan to run an extremist madrasa

- Pope might consider a canonisation of Thaksin

- i might stop liking Port and Sherry and switch to lukewarm Chang

I would like to nominate the above post as 'Dumbest Post of the Year'.

How do people find the time to post such nonsense?

people who don't worry about losing 25 million Baht, have their emphasis on lifestyle, enjoy that lifestyle, poke their noses, sip a glass of good wine, puff a Cohiba or Monte Christo and make fun of poor boys who worry too much and have no idea what sarcasm means have all the time to post nonsense

[Naam]

My Ca. house increased in value $2,000 every week I owned it.

my grandmother won all Formula1 races between 1931 and 1936

[PadThaiGuy]

I think investing in Thailand is too much risk. TIT is a well earned reputation.

We are only another coup away from this place becoming another Burma with some Junta like characters taking over.

What would happen when Islamic Extreemist start attacking Bangkok?

Crime is on the rise.

The resorts are getting trashed.

The nite life could get shut down.

Lack of legitimate Police force.

A recent shift in attitude of the Thais toward visitors.

The constant scamming of tourists.

Double pricing.

Lack of morals and integrity in doing business.

- a tsunami could hit Chiang Mai

- al-Qaeda could expropriate all foreigners

- a meteor could hit Thailand

- dinosaurs could invade walking street in Pattaya

- prostitutes might ask 1,000 dollars for short time

- my wife might change her mind and approve a mia noi

- all boys in brown might become monks

- ThaiVisa server might break down

- Baht might be replaced by €uro

- Khmer Rouge might invade and fight the Pathet Lao invaders

- G.W. Bush might convert to Islam and migrate to Waziristan to run an extremist madrasa

- Pope might consider a canonisation of Thaksin

- i might stop liking Port and Sherry and switch to lukewarm Chang

I would like to nominate the above post as 'Dumbest Post of the Year'.

How do people find the time to post such nonsense?

people who don't worry about losing 25 million Baht, have their emphasis on lifestyle, enjoy that lifestyle, poke their noses, sip a glass of good wine, puff a Cohiba or Monte Christo and make fun of poor boys who worry too much and have no idea what sarcasm means have all the time to post nonsense

Whatever...

Unlike you, I don't have the time to log onto the WWW and play "make believe".

Edited April 5, 2008 by PadThaiGuy

[PeaceBlondie]

It often boils down to personal circumstances, rather than some kind of investment calculations and valuations. I do think far more landlords in Thailand receive a gross rent of 6% per year on the value of the house, when it is rented. Allowing for vacancies, damages, maintenance, etc., more like 4%. The 1/100 ratio does not seem to apply; more like 1/200.

Some folks do not have the millions of baht to throw away on real estate in a crazy foreign country with all its financial and political uncertainties. I do not mind paying my landlady the same 6500 baht I paid my prior landlord every month, when I will be dead in 20 or 30 years and my partner can provide for himself.

But if you have family in Thailand who need a home, then you need to PAY the EXPENSE so that they will not be homeless.

[hanibal7]

Seems like heng and peaceblondie speak more sense than the rest of you all put together.This is an INDIVIDUAL case based on your circumstance.Its a stupid question realy as you will always get a different reply by people.

I made my choice based on living here for the rest of my life and taking the good with the bad.the post padthaiguy wrote could refer to england,where i left years ago due to the problems there.

I didnt tell you all what i did,and its my business and

UP to me.

[jdinasia]

Whatever...

Unlike you, I don't have the time to log onto the WWW and play "make believe".

LOL, No you just have time to log in often and moan and whine about Thailand

[PadThaiGuy]

Whatever...

Unlike you, I don't have the time to log onto the WWW and play "make believe".

LOL, No you just have time to log in often and moan and whine about Thailand

..and wind up,people like you

[jdinasia]

Whatever...

Unlike you, I don't have the time to log onto the WWW and play "make believe".

LOL, No you just have time to log in often and moan and whine about Thailand

..and wind up,people like you

So the purpose of your constant complaining and whining is to troll for reactions? wow! You do have time on your hands don't you?

[mikethevigoman]

regardless of what you decide to do, always remember that.....

Agreeing to pay a lender interest for the next 30 years, or 10,950 days (or whatever the terms of the mortgage are), in order to live in a home that is not yours does not make you a homeowner. It makes you a homedebtor.Putting little or nothing down and signing up for a loan does not make you a homeowner. It did not give you special status versus renters. It did not elevate you to a new class or socioeconomic status. It does not mean you have arrived.

HOMEDEBTORSHIP IS NOT HOMEOWNERSHIP

but if you own the property free and clear, then congratulations as you actually own it

Well said, i always laugh when i hear these people "oh we have our own home," when in reality all they a lot of these have (for a few years anyway ) is usually a negative equity in a huge loan,,reposesions are at an all time high in the uk and no wonder with the price of houses and the average wage,at least in thailand they are ( for foreigners) affordable,even if you dont own the land its built on,.still a minefield though ,.imo,.

[mikethevigoman]

Heng,

I'm a bit confused about your post. If it were the case where you could borrow money cheaply in Thailand on a fixed rate mortgage like you could do in other countries, and you had the choice of paying a monthly rent of 40,000 baht or a monthly mortgage of 46,000 then I think it would be clear to buy. But in Thailand, you must pay in cash.

You can rent homes in Thailand for 1/200 of the price to buy. So... 20 million baht to own and 100,000 month to rent, 1.2 million a year in rent AND now you place your 20 million baht in the stock market and as long as you beat 6%/year you will show a profit without any of the risk associated with owning a home in Thailand.

You are also not stuck in one place and you do not have to worry about finding a seller later on down the road.

Also, if real estate becomes more expensive it probably means the economy is expanding and doing well, that means that its unlikely that the Thai housing market will out pace the world's global economies.

I have seen people on here make the comment "I have made X baht the last 3 years"... If they looked at what a handful Index funds in emerging markets returned during this global bull market, they'd see that they only made a fraction of what they could've.

Bit confused here as well, which one carries higher risk. Buying property in Thailand or investing 20M to the stock markets?

Hope you are not talking about thai stock markets

It depends. If you're middle aged and just now buying your first home, or buying a home that will be your only home, IMO that could be a relatively high risk purchase. You should probably stick to the global markets and renting here.

If it's a second or third, etc. home, less so. If you have a trustworthy spouse, less so. If you don't even know each other that well, more of a risk. And so forth. In other words, sometimes too much tunnel vision on the return %'s might be a bad idea, not too mention that country risk vs. market risk comparisons are going to be rather arbitrary anyway.

Who would ever admit to not having a ( current ) trustworthy spouse ?

[PadThaiGuy]

regardless of what you decide to do, always remember that.....

Agreeing to pay a lender interest for the next 30 years, or 10,950 days (or whatever the terms of the mortgage are), in order to live in a home that is not yours does not make you a homeowner. It makes you a homedebtor.Putting little or nothing down and signing up for a loan does not make you a homeowner. It did not give you special status versus renters. It did not elevate you to a new class or socioeconomic status. It does not mean you have arrived.

HOMEDEBTORSHIP IS NOT HOMEOWNERSHIP

but if you own the property free and clear, then congratulations as you actually own it

Well said, i always laugh when i hear these people "oh we have our own home," when in reality all they a lot of these have (for a few years anyway ) is usually a negative equity in a huge loan,,reposesions are at an all time high in the uk and no wonder with the price of houses and the average wage,at least in thailand they are ( for foreigners) affordable,even if you dont own the land its built on,.still a minefield though ,.imo,.

One of my neighbors in Ca. bought an 8 million$ beachfront property/house.

Sold it for 28 million$ a few years later to some internet tycoon.

Walked away with 15million $ profit.

According to you, he never owned it.

Back to the subject.. I would not 'invest' in Thailand real estate.

Edited April 5, 2008 by PadThaiGuy

[Crash999]

Can someone explain what advantage "buying" has over renting? Seems the same to me, "buying" being a 30 year rental. What is the difference?

As an owner if the property value increases then you'll obviously be a happy camper, though you need to sell it to realize gains. You'll also get to tell people you own property (even if technically the bank owns most of it). And you're not subject to the whims and mercies of the landlord who may or may not decide to hike your rent depending on whether or not his mia noi wants a new BMW.

The big downside, for Thailand anyway, is the cost of buying. With rental yields so low you'll wind up paying a lot to live in the same place as you're renting and and given the cost of purchase and ownership it may be a long time before ownership makes financial sense. There are lots of calculators online for you to play around with, like here: http://www.losangeles-immobilier.com/RentvsBuyCalc

Of course at the end of the day there is one reason that's hard to argue against: "I want it, dam_n it!"

After all, new Ferraris aren't the world's best investment but they're sold every day.

[Naam]

One of my neighbors in Ca. bought an 8 million$ beachfront property/house.

Sold it for 28 million$ a few years later to some internet tycoon.

Walked away with 15million $ profit.

my grandfather was your neighbour?

[PadThaiGuy]

One of my neighbors in Ca. bought an 8 million$ beachfront property/house.

Sold it for 28 million$ a few years later to some internet tycoon.

Walked away with 15million $ profit.

my grandfather was your neighbour?

Could be I suppose. You do come off as someone born on 3rd base that thinks he hit a triple.