Mugs Game

[yabs]

why on earth would anyone i n their right mind buy property here uinless they are seriously loaded and can afford to lose all.

I can never get over how dumb some people are.

I someone told that that what you were about to buy could

1)never 100 percent be yours

2)you are in a country that if something does go wrong you as a foregner have no real rights or legal recourse

3)The next govnt in can change all rules regarding foreign ownership willy nilly

4)it will be very hard ever to sell what you buy and in all likelihood especillay in the case of a condo it will fall in value

yes all this applies to buying property here so why on earth would anyone do it?

You see adverts all the time for exclusive units in phuket etc

my questions are as these are not condos how can foreigners possibly buy them

and 2 what sort of mug even considers the idea

really really unbelievable

[imaneggspurt]

why on earth would anyone i n their right mind buy property here uinless they are seriously loaded and can afford to lose all.

I can never get over how dumb some people are.

I someone told that that what you were about to buy could

1)never 100 percent be yours

2)you are in a country that if something does go wrong you as a foregner have no real rights or legal recourse

3)The next govnt in can change all rules regarding foreign ownership willy nilly

4)it will be very hard ever to sell what you buy and in all likelihood especillay in the case of a condo it will fall in value

yes all this applies to buying property here so why on earth would anyone do it?

You see adverts all the time for exclusive units in phuket etc

my questions are as these are not condos how can foreigners possibly buy them

and 2 what sort of mug even considers the idea

really really unbelievable

I agree, i have owned but sold ,,now rent ( happier ),.i think its the old habit and being told in our countries " put your money into bricks and mortar " mentality, ie habit,.property here in general is a terrible investment,as as you say we dont own it anyway, if buyers are happy to give it away as you say fair enough,.but for me now i have no interest in buying again, selling seems impossible now, glad im out,.

[GuestHouse]

It's all relative.

What to you is a huge amount of money to risk on property in Thailand is for others pocket money a small fraction of their wealth.

While you might have a Thai partner who you have reason not to trust, others are living very normal lives with Thais that they justifiably trust.

While you might marry a Thai but not want the person who shares your life to share the security that home ownership brings, others are happy to share what they have with their wive's/husbands.

I take the view if you can't trust the people you share you life with, you ought to spend a little less time worry about loosing your money and more time about wasting your life with someone you dare not share your life with.

[imaneggspurt]

Well that dosent apply to me,. my ( thai ) wife and i are 100 per cent equal and in our thoughts on ownership here,. i actually went back and bought a place in the uk and rented it out .luckily a few years ago, ..

[imaneggspurt]

It's all relative.

What to you is a huge amount of money to risk on property in Thailand is for others pocket money a small fraction of their wealth.

While you might have a Thai partner who you have reason not to trust, others are living very normal lives with Thais that they justifiably trust.

While you might marry a Thai but not want the person who shares your life to share the security that home ownership brings, others are happy to share what they have with their wive's/husbands.

I take the view if you can't trust the people you share you life with, you ought to spend a little less time worry about loosing your money and more time about wasting your life with someone you dare not share your life with.

Gh ,forgive me if im wrong, but i cant see where he mentioned or implied anything about a thai partner/wife and or mistrust ?

[GuestHouse]

He didn't mention houses in the UK either... not that they ever go the way of all things.

[imaneggspurt]

He didn't mention houses in the UK either... not that they ever go the way of all things.

Nice try, but still no connection to your comments,.

[GuestHouse]

imaneggspurt, forgive me, my comments where not directed at you personally - There is no need to take issue, they can be ignored.

[donx]

why on earth would anyone i n their right mind buy property here uinless they are seriously loaded and can afford to lose all.

I can never get over how dumb some people are.

I someone told that that what you were about to buy could

1)never 100 percent be yours

2)you are in a country that if something does go wrong you as a foregner have no real rights or legal recourse

3)The next govnt in can change all rules regarding foreign ownership willy nilly

4)it will be very hard ever to sell what you buy and in all likelihood especillay in the case of a condo it will fall in value

yes all this applies to buying property here so why on earth would anyone do it?

You see adverts all the time for exclusive units in phuket etc

my questions are as these are not condos how can foreigners possibly buy them

and 2 what sort of mug even considers the idea

really really unbelievable

Here are the reasons I have for "owning" property here in Thailand.

1) I am married to a Thai I trust and who has given me three wonderful children which I expect will inherit all of our Thai property.

2) Farming property we own is keeping my wife's family gainfully employed.

3) I have always dreamed of owning beach front property. Now we have 2.6 rai of beach front land which is comparatively speaking very inexpensive, a few hours drive from my wife's village, and across the street from a relative who is looking after the land for us while we are in the US.

You may call me a mug if you must, but I just don't see it that way.

[yabs]

don

then i'll say it again unless you are prepared to lose it all

the I'm sorry you are a mug

if you want beach property do it in a place where you own it

not only is it a mugs game but it also pushes the prices up out the reach of locals

all in all i think its a bad move

I have three rules which i stick to

1 never get involved romantically with bar girls ie take them on as gfs.

2 never buy property unless you are prepared to lose

3 never do business in thailand unless its some sort of export

stick to those rules and you should be fine

if not beware

[dsfbrit]

I am a mug.

I have bought a house out here. I love every minute of sitting in my garden and not paying rent.

Just think I could have taken the money and been really clever. Instead of investing in an asset I can enjoy, maybe I could have invested in the Stock Market the DOW and FTSE have done really well. Hmm. The Dow has gone from 14000 down to 8500 - hmmm lots of 'profit' there for a clever chap.

Or maybe put the money in an Icelandic bank. Better than that I could have bought a flat last year in the UK to rent out, in lets say Manchester. Hey I could have got a really cheap mortgage with Bradford and Bingley. Hmmm. lets see, today that flat would be worth 50 percent less, the mortgage 50 per cent higher, hardly any tenants and reduced rentals. Lots of 'profit' there. Oh and of course Bradford and Bingley have gone bust and had to be taken over - so who knows what rate the mortgage will be next year. Probably better to let it be re-possessed, a lot chepaer than any other options to get rid of it!

Mate, at least I have some chance of having this property/investment in the future, not like some of the poor sods who have lost most of their life savings in some of the above ventures !

I am off now to see if the savings in my high street bank in the UK are actually still there - I am with HBOS - now there is a really safe investment - 'cos lets face it - its much more likely I will lose my house in this foreign land than my UK bank will go bust - isn't it

After that I am going to sunbathe in my garden (weather permitting).

Edited October 23, 2008 by dsfbrit

[imaneggspurt]

As usual this topic will end up as "renters v buyers " and it will be a draw as usual...each one justifying his predicament,.last comment from me is, to each his own,.

[stgrhe]

I take the view if you can't trust the people you share you life with, you ought to spend a little less time worry about loosing your money and more time about wasting your life with someone you dare not share your life with.

Very well said GuestHouse!

[GuestHouse]

It's not like we have never heard of Guys loosing everything in Farangaland?

So come on Yabs tell us your story - what made you such and evangelist?

[Livinginexile]

I bought a condo in Bangkok a few years ago and couldn't be happier

It is freehold...I own it 100%

It has apreciated in value by allmost 30%

I bought @ 30 bht per AUD$. Now the AUD$ is 22...picked up another 30% in currency gains if I wanted to sell

All up, if I sold now and repatriated my money (plenty of buyers by the way) I would make at least 50% on my investment.

Why wouldn't you buy?

The OP sounds like sour grapes to me

[mikethevigoman]

ID have to agree with these,.........and ill add even IF from experience, so what ?

1 never get involved romantically with bar girls ie take them on as gfs.

2 never buy property unless you are prepared to lose

3 never do business in thailand unless its some sort of export "

Edited October 23, 2008 by mikethevigoman

[Gary A]

Nothing in this life is 100 percent. I thought I had the handle on things too. I spent no more here than I could afford to walk away from. I kept my nest egg in nice safe ETF's that were paying a good dividend. Those nice safe ETF's are now worth less than half of what I paid for them.

Had I built a much nicer very plush house for my wife, would I be worse off than I am now? You pay taxes and you die. That's all that you are guaranteed. Other than a pick up truck and a condo, everything belongs to my wife.

[donx]

don

then i'll say it again unless you are prepared to lose it all

the I'm sorry you are a mug

if you want beach property do it in a place where you own it

not only is it a mugs game but it also pushes the prices up out the reach of locals

all in all i think its a bad move

I have three rules which i stick to

1 never get involved romantically with bar girls ie take them on as gfs.

2 never buy property unless you are prepared to lose

3 never do business in thailand unless its some sort of export

stick to those rules and you should be fine

if not beware

Since I am prepared to lose it all and since I haven't violated any of your three rules, I suppose you would have to say that I'm not a mug. Personally, I don't give a dam_n what you think about my decisions to invest in property here in Thailand. There are always risks and rewards with any investment. I can tell you that my 401(k) is down more in the last month than all the money I have invested in property in Thailand over the last 9 years. Yes, I expect my 401(k) to come back up again. But if I can afford that kind of loss, I certainly can afford to lose all the property purchased in Thailand.

[RAZZELL]

don

then i'll say it again unless you are prepared to lose it all

the I'm sorry you are a mug

if you want beach property do it in a place where you own it

not only is it a mugs game but it also pushes the prices up out the reach of locals

all in all i think its a bad move

I have three rules which i stick to

1 never get involved romantically with bar girls ie take them on as gfs.

2 never buy property unless you are prepared to lose

3 never do business in thailand unless its some sort of export

stick to those rules and you should be fine

if not beware

Yeah right, Greg Lange who owns Sunbelt Asia, Sunrise Taco's, Subway...right mug!

RAZZ

P.S. Methink's this is a troll

Edited October 23, 2008 by RAZZELL

[Gravelrash]

why on earth would anyone i n their right mind buy property here uinless they are seriously loaded and can afford to lose all.

I can never get over how dumb some people are.

I someone told that that what you were about to buy could

1)never 100 percent be yours

2)you are in a country that if something does go wrong you as a foregner have no real rights or legal recourse

3)The next govnt in can change all rules regarding foreign ownership willy nilly

4)it will be very hard ever to sell what you buy and in all likelihood especillay in the case of a condo it will fall in value

yes all this applies to buying property here so why on earth would anyone do it?

You see adverts all the time for exclusive units in phuket etc

my questions are as these are not condos how can foreigners possibly buy them

and 2 what sort of mug even considers the idea

really really unbelievable

Buying property is a lifestyle choice. Own and have a permanent residence you can setup as you please. Rent it out if you stay here part time. Only buy condos as you do own it, when has there ever been a problem? Because you are ignorant about property you gripe about others that are not.

I have made about 1.5 million a year buying and renovating, boy am I stupid. Oh, I buy cheap and make only a modest profit. The buyers are happy as I always leave some fat for them if they decide to sell later.

Do some research and first know what you are talking about before making such ignorant statements. If you are broke then rent, no one said it was a bad option, but why make ridiculous posts like this about buyers who I believe are happy for the most part?

[Gravelrash]

ID have to agree with these,.........and ill add even IF from experience, so what ?

1 never get involved romantically with bar girls ie take them on as gfs.

2 never buy property unless you are prepared to lose

3 never do business in thailand unless its some sort of export "

Everyone needs do what works for them, however don't assume it work for everyone...

1. Date who you want, just secure your assets first.

2. Why do you have to lose unless you are a mug, quality property always rebounds even after the worst of recessions. Sell in a dead market and lose, only the over-extended do that.

3. This is priceless, property is much safer than any business. Since when did exports become safe?

I need a drink or a lobotomy.

[Gary A]

I have come to the conclusion that you are a troll. I don't think that you have investments anywhere. If you are comfortable with an investment in an Icelandic bank and think everything is wonderful, you are more stupid than anyone on this board.

[RAZZELL]

Apart from that it pushes all the prices up

Next time a Russian oligarch, Arab sheikh or American hedge fund manager buys in the London I'll have a good old moan about them putting up the prices for us locals

RAZZ

[GuestHouse]

one reason i have had enough of Thailand

the complete brainless dregs of western society it attracts.

.....

I see Thailand as a great place to have some fun and life can be very easy

but if you want the normal things out of life like property, security etc then this is not the right place

You know while I'm inclined to agree with you that Thailand does seem to have a peculiar attraction to some undesirable types I think you ought not be so hasty to criticize their mental abilities.

On this second point of yours, and this is where I think you yourself are completely missing the plot, there are a lot of foreigners who have moved to Thailand who I'd not want to socialize with, many would not find me the best of company I'm sure but here's an observation you seem to have missed:

While you make a value judgement on others based upon what you refer to as 'The normal things out of life' and then go on to define as 'like property, security etc' my own observation of foreigners in Thailand is they are not so interested in your normal things 'property and security' but in - brace yourself this might be a something of a shock - Living Life without the constraints of the life they had before they move to Thailand.

And here's another odd observation: I have noticed this zest for living a life without the constraints of their former life in a wide range of foreigners I have met living in Thailand, ranging from semi-literate guys who made their money by hard labour through senior executives of major multinationals.

Guys who have done their bit, paid their dues and now want to live their life on their own terms without their government/boss/society/family or any self righteous tw@ telling them they should live their life by someone else's rules.

There is something far worse than loosing what you define as the 'Normal things in life' - Losing the opportunities and experiences life has to offer.

By all means stay home with your tight grip on your house deeds but do not presume to tell others how to lead their life or mock them for doing so.

You're a bitter little man. Get over it.

[yabs]

yes or an ousted Thai PM guilty of corruption and human rights abuses

[yabs]

guest

you start off quite well

of course thats why we all move there , for more freedom and excitemenet, but when has buying property been the ingrediensts of adventure and freedom

but I would also say that if one buys a house sett;les down etc

then if that is what they want then they are in the wrong place

by the mere notion fo them buying suggests that what they are after in life they will not find in thailand

if you want to remain footloose and fancy free then buying a property is not the eay to go

is all I'm saying

why buy when you can rent

buy in you r own country where you have protection and rent that out to subsidide your life here in Los is my advice

I would suggest by yiur response that you are the bitter one, not I

I'm just facing the facts and the facts are its A GREAt place for fun but thats about it

if you want tangible things in your life thejn I would suggest you are in the wrong place

[pkrv]

guest

you start off quite well

of course thats why we all move there , for more freedom and excitemenet, but when has buying property been the ingrediensts of adventure and freedom

but I would also say that if one buys a house sett;les down etc

then if that is what they want then they are in the wrong place

by the mere notion fo them buying suggests that what they are after in life they will not find in thailand

if you want to remain footloose and fancy free then buying a property is not the eay to go

is all I'm saying

why buy when you can rent

buy in you r own country where you have protection and rent that out to subsidide your life here in Los is my advice

I would suggest by yiur response that you are the bitter one, not I

I'm just facing the facts and the facts are its A GREAt place for fun but thats about it

if you want tangible things in your life thejn I would suggest you are in the wrong place

I am with GH. Silly me.

[yabs]

gary

yes I had an icelandic bank but it is guranteed from the FSA

what guarantees have you got in Thailand?

<deleted> all

I've got loads of investments none of them in thailand apart from maybe a small part of an asian fund

two properies in the uk which i rent out for a good profit on my mortgage

lots of cash and lots in stock though obviously the latter took a battering

hopefully retire i n a year or so in my mid thirties

but perhaps i should take your advice na d buy an overpriced and poorly built property in Thailand which i can never own out right and

have trouble selling

hmm thats clever

[bingobongo]

fellas fellas, can't we agree to disagree, just remember that a Thai condo is like a bar girl, costs a lot up front, ages quickly, lacks substance and no one wants to keep long term, hope this helps

Edited October 23, 2008 by bingobongo

[RAZZELL]

gary

yes I had an icelandic bank but it is guranteed from the FSA

what guarantees have you got in Thailand?

<deleted> all

I've got loads of investments none of them in thailand apart from maybe a small part of an asian fund

two properies in the uk which i rent out for a good profit on my mortgage

lots of cash and lots in stock though obviously the latter took a battering

hopefully retire i n a year or so in my mid thirties

but perhaps i should take your advice na d buy an overpriced and poorly built property in Thailand which i can never own out right and

have trouble selling

hmm thats clever

Pray tell how you made this veritable fortune?

Brain surgeon?

RAZZ