Small Property Investment

[lambada]

Hi

I know this has been covered but I am still confused. I want to buy a 350,000 baht house in Bangkok. $17000 Oz. Possibly later some land or a small house in Isan. Similar sort of money. Is there any way I can do this in my own name with any kind of security or at least a level of smoke and mirrors without costing me a fortune. I do not have a Thai wife. Do I have to have a 2,000,000 baht company and all that agravation? Does the money have to stay in Thailand in the company etc. Ideas please.

Edited March 5, 2005 by lambada

[toastwars]

Hi

I know this has been covered but I am still confused.  I want to buy a 350,000 baht house in Bangkok.  $17000 Oz.  Possibly later some land or a small house in Isan.  Similar sort of money.  Is there any way I can do this in my own name with any kind of security or at least a level of smoke and mirrors without costing me a fortune.  I do not have a Thai wife.  Do I have to have a 2,000,000 baht company and all that agravation? Does the money have to stay in Thailand in the company etc.  Ideas please.

many threads on this subject, take a look, you can't own property in Thailand as a foreginer without a holding company...smoke and mirrors will just lose you your house and investment

[Tornado]

Hi

I know this has been covered but I am still confused.  I want to buy a 350,000 baht house in Bangkok.  $17000 Oz.  Possibly later some land or a small house in Isan.  Similar sort of money.  Is there any way I can do this in my own name with any kind of security or at least a level of smoke and mirrors without costing me a fortune.  I do not have a Thai wife.  Do I have to have a 2,000,000 baht company and all that agravation? Does the money have to stay in Thailand in the company etc.  Ideas please.

<{POST_SNAPBACK}>

Own name = no

set up company = yes. Does the money have to stay in Thailand in the company etc. = no

No easy way mate, it is what it is.

[malcolminthemiddle]

Hi

I know this has been covered but I am still confused.  I want to buy a 350,000 baht house in Bangkok.  $17000 Oz.  Possibly later some land or a small house in Isan.  Similar sort of money.  Is there any way I can do this in my own name with any kind of security or at least a level of smoke and mirrors without costing me a fortune.  I do not have a Thai wife.  Do I have to have a 2,000,000 baht company and all that agravation? Does the money have to stay in Thailand in the company etc.  Ideas please.

<{POST_SNAPBACK}>

Own name = no

set up company = yes. Does the money have to stay in Thailand in the company etc. = no

No easy way mate, it is what it is.

<{POST_SNAPBACK}>

The present Owner could mortgage the property to you as the Lender, the mortgage could be registered at the Land Department meaning the Owner could not transfer/sell the property without ypur permission. You could then enter into a lease agreement with the Owner.

Baht 350,000 for a house in BKK???

[mbkudu]

Baht 350,000 for a house in BKK???

I was going to say, maybe he forgot a zero in the price? It's funny how

'nothing' can mean so much.

Edited March 5, 2005 by mbkudu

[chingy_]

I want to buy a 350,000 baht house in Bangkok

was thinking the same

[mbkudu]

Nice avatar Chingy! Ehhhhhhhhhhh!

Edited March 6, 2005 by mbkudu

[lambada]

Hi Yep, 350000, its near the new airport so not really bangkok. Not a new house just a small town house with a shop front. Looking at the photos as we speak. It will probably be gone by the time i figure out how to do it. Thanks for all the info. I just want something easy and quick. Sounds like the company and leasing etc is the way to go. Anyone done it and knows the ropes? HOw expensive to set up a company and get the legals done? If anyone knows someone reliable who can do it can you let me know name and number. Ta

Edited March 6, 2005 by lambada

[Tarragona]

Hi Yep, 350000, its near the new airport so not really bangkok.  Not a new house just a small town house with a shop front. 

That still seems incredibly cheap.

[splitlid]

have you been to the property itself??

sounds like it maybe another 'good thai idea at the time.'

many many many shop houses built and still vacant, they even build brand new ones next to old developments not sold.

'sold quickly' is a bit of a joke.

[lambada]

Okay, Thanks for this. I have just decided to hold off until I am in Thailand for a extended period of time. "Fools and their money are easily parted" as they say. I was unduly swayed by my Thai girlfriend. I will get her to rent instead. Having said that it would be great to get some of the great minds on this site to put together a simple step by step format for company creation and or purchasing. Sooner or later I will do it and I would gladly pay someone to guide me through the process. I am sure others would too.

Edited March 7, 2005 by lambada

[Tornado]

Okay,  Thanks for this.  I have just decided to hold off until I am in Thailand for a extended period of time.  "Fools and their money are easily parted" as they say.  I was unduly swayed by my Thai girlfriend.  I will get her to rent instead.   Having said that it would be great to get some of the great minds on this site to put together a simple step by step format for company creation and or purchasing.  Sooner or later I will do it and I would gladly pay someone to guide me through the process.  I am sure others would too.

<{POST_SNAPBACK}>

I am sure some of us will give you the advice for free, when your ready to go ahead ask and I will gladly give you advice, as will many others here that do this type of work everyday.

[bob a job]

Hi Yep, 350000, its near the new airport so not really bangkok.  Not a new house just a small town house with a shop front.  Looking at the photos as we speak.  It will probably be gone by the time i figure out how to do it.  Thanks for all the info.  I just want something easy and quick. Sounds like the company and leasing etc is the way to go.  Anyone done it and knows the ropes? HOw expensive to set up a company and get the legals done?  If anyone knows someone reliable who can do it can you let me know name and number.  Ta

<{POST_SNAPBACK}>

Hi Man

Just a thought, You want to by a place near the new airport why?????

if i was you stay away from any airport, it will be to noisy.

plenty of place in Thailand not near airports.

[simcity]

my house are on temple land ! no possible to mortgage through the bank , check the situation of yours .

[Bobcat]

The present Owner could mortgage the property to you as the Lender, the mortgage could be registered at the Land Department meaning the Owner could not transfer/sell the property without ypur permission

Under Thai law, only a registered financial institution will be permitted to be registered by the Land Department on the title deed as a mortgagee - UNLESS you are able to obtain permission from the Ministry of Finance. If you simply turn up at the Land Department without a letter of permission from the MOF then you'll be sorely disappointed. I would very much doubt that the MOF would grant permission to a foreign individual to be registered as a mortgagee becuase you could never enforce your mortgage in the event of a default.

Indo-Siam, have you ever encountered a foreign individual obtaining permission from the MOF in this manner?

Cheers,

Bob

[malcolminthemiddle]

The present Owner could mortgage the property to you as the Lender, the mortgage could be registered at the Land Department meaning the Owner could not transfer/sell the property without ypur permission

Under Thai law, only a registered financial institution will be permitted to be registered by the Land Department on the title deed as a mortgagee - UNLESS you are able to obtain permission from the Ministry of Finance. If you simply turn up at the Land Department without a letter of permission from the MOF then you'll be sorely disappointed. I would very much doubt that the MOF would grant permission to a foreign individual to be registered as a mortgagee becuase you could never enforce your mortgage in the event of a default.

Indo-Siam, have you ever encountered a foreign individual obtaining permission from the MOF in this manner?

Cheers,

Bob

<{POST_SNAPBACK}>

Dear Bob,

I'm not an expert on the matter and await Indo-Siam response with interest. I do know it is not uncommon for Thais to take out "private" loans and put up their property whether it be land or buildings for collateral, with the loan registered at the Land Department. As I understand it there is nothing in Thai Law to prevent a loan provided by a foreigner being registered the same way.