How do you feel about this?

[TheJoker]

I was interested in the renting scene in Thailand. This I mean renting an apartment block or a condo etc. In this way I mean to live from the income of the rental. Is this a good "to do" here?

- Does a foreigner have the oppertunity here to buy apartments or condo? ( With a workpermit, or Thai wife )

- Anybody experience in this field, willing to contact me?

Thank you in advance for your effort,

[Soutpeel]

I was interested in the renting scene in Thailand. This I mean renting an apartment block or a condo etc. In this way I mean to live from the income of the rental. Is this a good "to do" here?

- Does a foreigner have the oppertunity here to buy apartments or condo? ( With a workpermit, or Thai wife )

- Anybody experience in this field, willing to contact me?

Thank you in advance for your effort,

you can buy a condo without a WP or wife, if you are talking buying a condo block, then you would have the "normal" land issues in Thailand, and would have to be through a company or in the wifes name..

[TheJoker]

Does the bank-world in Thailand now the investement system? This i mean: Personal Investment Plan. Means in big lines the bank issues a loan to the investor ( if the plan is approved ), in this way the investor can buy the apartement/condo block and starts renting it for his income + profit ( later ) and pays back to the bank the requested loan in a preset determined years, in which agreed with the bank in issue.

We know this system in Europe. But don't know if the have something like that here in Thailand. Because help of the bank is needed if you want to buy something big ( like the apartment/condo block), because you can never pay it yourself, or you should be milionair.

Offcourse some own capital is needed, and asked by the determined bank in issue, which I understand.

[TheJoker]

I was interested in the renting scene in Thailand. This I mean renting an apartment block or a condo etc. In this way I mean to live from the income of the rental. Is this a good "to do" here?

- Does a foreigner have the oppertunity here to buy apartments or condo? ( With a workpermit, or Thai wife )

- Anybody experience in this field, willing to contact me?

Thank you in advance for your effort,

you can buy a condo without a WP or wife, if you are talking buying a condo block, then you would have the "normal" land issues in Thailand, and would have to be through a company or in the wifes name..

So in big lines, you will still need the work permit? Because if you start renting it....

[Soutpeel]

Does the bank-world in Thailand now the investement system? This i mean: Personal Investment Plan. Means in big lines the bank issues a loan to the investor ( if the plan is approved ), in this way the investor can buy the apartement/condo block and starts renting it for his income + profit ( later ) and pays back to the bank the requested loan in a preset determined years, in which agreed with the bank in issue.

We know this system in Europe. But don't know if the have something like that here in Thailand. Because help of the bank is needed if you want to buy something big ( like the apartment/condo block), because you can never pay it yourself, or you should be milionair.

Offcourse some own capital is needed, and asked by the determined bank in issue, which I understand.

Dont hold your breath with financing anything like this via a Thai bank if you are a farang....

[Soutpeel]

I was interested in the renting scene in Thailand. This I mean renting an apartment block or a condo etc. In this way I mean to live from the income of the rental. Is this a good "to do" here?

- Does a foreigner have the oppertunity here to buy apartments or condo? ( With a workpermit, or Thai wife )

- Anybody experience in this field, willing to contact me?

Thank you in advance for your effort,

you can buy a condo without a WP or wife, if you are talking buying a condo block, then you would have the "normal" land issues in Thailand, and would have to be through a company or in the wifes name..

So in big lines, you will still need the work permit? Because if you start renting it....

If you buy indvidual units and rent out then dont need a WP.

Form a company to manage/buy condo blocks, you intend doing the managing, then need a WP

[TheJoker]

Does the bank-world in Thailand now the investement system? This i mean: Personal Investment Plan. Means in big lines the bank issues a loan to the investor ( if the plan is approved ), in this way the investor can buy the apartement/condo block and starts renting it for his income + profit ( later ) and pays back to the bank the requested loan in a preset determined years, in which agreed with the bank in issue.

We know this system in Europe. But don't know if the have something like that here in Thailand. Because help of the bank is needed if you want to buy something big ( like the apartment/condo block), because you can never pay it yourself, or you should be milionair.

Offcourse some own capital is needed, and asked by the determined bank in issue, which I understand.

Dont hold your breath with financing anything like this via a Thai bank if you are a farang....

In other words? They don't know this system or don't ( are afraid of problem ) do this with Foreigners?

[jdinasia]

Thai banks do not commonly loan money to foreigners, particularly people with no proven credit history with them. (Come here ... deposit millions of baht ... work for some years and have real credit with them and who knows ... you MIGHT get a loan based upon a business plan .. or someone might thing it is a good plan and just do it themselves!

[Guest madcow]

Does the bank-world in Thailand now the investement system? This i mean: Personal Investment Plan. Means in big lines the bank issues a loan to the investor ( if the plan is approved ), in this way the investor can buy the apartement/condo block and starts renting it for his income + profit ( later ) and pays back to the bank the requested loan in a preset determined years, in which agreed with the bank in issue.

We know this system in Europe. But don't know if the have something like that here in Thailand. Because help of the bank is needed if you want to buy something big ( like the apartment/condo block), because you can never pay it yourself, or you should be milionair.

Offcourse some own capital is needed, and asked by the determined bank in issue, which I understand.

Dont hold your breath with financing anything like this via a Thai bank if you are a farang....

In other words? They don't know this system or don't ( are afraid of problem ) do this with Foreigners?

Most banks that I know of do not lend to foreigners , there may of course be some , in the current economic climate

they would probably only lend a small percentage of the total cost anyway , wouldnt matter who you are .

But all that aside , have you really researched this ? There are more empty propertys , both for rent and sale , everywhere I look , all over the country , some have been on the market for four years that I know of and lots of

developments been empty since 97 ...... and its all gonna get worse before its gets better

[Soutpeel]

Most banks that I know of do not lend to foreigners , there may of course be some , in the current economic climate

they would probably only lend a small percentage of the total cost anyway , wouldnt matter who you are .

Dont think its a case of being a foreigner per se, its lack of credit history in Thailand, lets face it, go to another country, live there as a perpetual tourist and go and ask a bank for a loan...think you would have two chances...No chance and F*kc all chance...

The world ecomony is in the state its in now because of giving out dodgy property loans...

Edited November 4, 2008 by Soutpeel

[Chaimai]

In other words? They don't know this system or don't ( are afraid of problem ) do this with Foreigners?

No Sherlock, they have sussed outthat the American banks were morons for lending on thin air - a principle copied by the Spanish and others - and thought "sh!t, we will stick to lending on what we understand and a 20 Baht charge for Farangs using ATMs. That way we won't get super-rich but we won't get our balls torched ".

Hence no meltdown in the Thai banking system.

A commendable banking sentiment view

[jdinasia]

In other words? They don't know this system or don't ( are afraid of problem ) do this with Foreigners?

No Sherlock, they have sussed outthat the American banks were morons for lending on thin air - a principle copied by the Spanish and others - and thought "sh!t, we will stick to lending on what we understand and a 20 Baht charge for Farangs using ATMs. That way we won't get super-rich but we won't get our balls torched ".

Hence no meltdown in the Thai banking system.

A commendable banking sentiment view

hmmmmmm

You haven't been around Thailand long have you?

[Naam]

Most banks that I know of do not lend to foreigners , there may of course be some , in the current economic climate

they would probably only lend a small percentage of the total cost anyway , wouldnt matter who you are .

Dont think its a case of being a foreigner per se, its lack of credit history in Thailand, lets face it, go to another country, live there as a perpetual tourist and go and ask a bank for a loan...think you would have two chances...No chance and F*kc all chance...

The world ecomony is in the state its in now because of giving out dodgy property loans...

"credit history" is american bullshit invented and practised in America! i built a house in America in 1989, bought furniture and a car. paid cash for each and everything. applied for a credit card. was refused as i did not have any credit history. several months later ATT offered me a credit card with a limit of 500 dollars. reason: i was credit worthy because i paid my phone bill on time

i called them and ask whether the 500 dollars was a joke. was told by a nice lady "no joke Sir, but i can increase your limit to 1,500 dollars". i said "1,500 dollars is a joke too!" her reply was "how high a credit line do you need?" ah sez "minimimum 25k". she sez "if i talk to my supervisor we might get you 3.5k". ah sez "go ahead". after a few minutes i got the 3.5k. then i spent approximately 2k and sent them a cheque for 5k. got a call "there was a mistake sir, you issued a cheque with a wrong amount" ah sez "no, keep da dough as ah be spendin' mo' soon". then spent nearly to my limit, send them a cheque for 10k and called them asking to raise my line to 10k which was approved within a couple of minutes.

five years later i had a dozen or so platinum, titanium, palladium, diamond with oak leaves, swords and silver stars and what have you not cards each with a limit of 50k dollars and my Focka, Fica, Fico or whatchamacallit score matched that of Suze Orman. crazy country, using banking methods and procedures which we abanded shortly after World War One but nice people all over!

[Guest madcow]

"credit history" is american bullshit invented and practised in America! i built a house in America in 1989, bought furniture and a car. paid cash for each and everything. applied for a credit card. was refused as i did not have any credit history. several months later ATT offered me a credit card with a limit of 500 dollars. reason: i was credit worthy because i paid my phone bill on time

i called them and ask whether the 500 dollars was a joke. was told by a nice lady "no joke Sir, but i can increase your limit to 1,500 dollars". i said "1,500 dollars is a joke too!" her reply was "how high a credit line do you need?" ah sez "minimimum 25k". she sez "if i talk to my supervisor we might get you 3.5k". ah sez "go ahead". after a few minutes i got the 3.5k. then i spent approximately 2k and sent them a cheque for 5k. got a call "there was a mistake sir, you issued a cheque with a wrong amount" ah sez "no, keep da dough as ah be spendin' mo' soon". then spent nearly to my limit, send them a cheque for 10k and called them asking to raise my line to 10k which was approved within a couple of minutes.

five years later i had a dozen or so platinum, titanium, palladium, diamond with oak leaves, swords and silver stars and what have you not cards each with a limit of 50k dollars and my Focka, Fica, Fico or whatchamacallit score matched that of Suze Orman. crazy country, using banking methods and procedures which we abanded shortly after World War One but nice people all over!

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Yep , spot on . 20 years ago to get a loan , one would have to make an appointment with the bank manager , detail all ones assets and liabilities , beg , grovel and bow .

Now its a matter of a online form , approved in a few hours , go to the bank and sign some papers .

I love easy credit , makes life so easy if one can just pick up the phone and borrow $$$ , the problem of

course is , for many people they cannot manage loans and money , so end up in the shit with it all

Edited November 4, 2008 by madcow

[jdinasia]

LOL ...

20 years ago ......

There wasn't internet, you didn't have a record that could be traced so as to avoid having to sit in front of some bank manager and get accepted or denied based upon subjective things

Yes Naam .... unless you were using those things you paid cash for as collateral ..... then they were correct in saying you didn't have any history of paying back money (You probably could have gotten credit from a real live person .. and certainly could have if you used property etc as collateral ... but for a signature loan ... you had never paid back money that you owed!

[TheJoker]

"credit history" is american bullshit invented and practised in America!

Credit cards seem very populair in Thailand, same as America. The poor people don't understand "credit" only makes you deeper in trouble. Always learned that you cannot spend a dollar if you have 25 cents.

Back to my question: so what I read, is that Thai Banks do not support this way of financing?

[Guest madcow]

"credit history" is american bullshit invented and practised in America!

Credit cards seem very populair in Thailand, same as America. The poor people don't understand "credit" only makes you deeper in trouble. Always learned that you cannot spend a dollar if you have 25 cents.

Back to my question: so what I read, is that Thai Banks do not support this way of financing?

If you are a nonthai ( Not a Thai ) you have no hope .

If you are Thai , have heaps of baht , a good clean credit history , you have a little bit better chance ( But not much )

[Naam]

the situation in continental Europe where it's the other way round:

-somebody applies for a loan/mortgage or something similar

-the lender contacts the "credit agency" where all loans are recorded as well as delinquencies

-credit agency says "never a loan recorded"

-lender says (if collateral, purpose, etc. merits the loan) APPROVED!

in case the applicant owns e.g. his home without any mortgage on it (as was my case) no such rubbish like "credit history" is mentioned