Want To Buy A Small And Cheap Appartment. Can I Get It Monthly Paid?

[atelko]

Hi there,

I am living in Thailand now and am looking for a small apartement to buy where I can live in.

I am planning to open a company also and probably a shop with a niche business that is needed by many locals.

For that I just need a place to sleep and relax, because the shop would be my main place where I will stay or have an eye on. Already found some apartements that would be ok, but I don´t want to spend the whole money on it right away, because I have to be flexible through the company and business I am planning to open. There has to be some cash flow so that I dont have to close it right after opening it.

Is there a way to get some money lended? Some of the apartements are offered also by the pre-owner or lets say current owner. I am currently living in a house for rent and don´t really use the available space. it is also a bit too much to take care of. and for that it is just money thrown out of the window.

I mean when business is good I could also look for something bigger or better if needed but from now on I just need a place to sleep.

actually i would be more willing to push available funds into the company than spending for a better estate afterwards...

I have a non immigrant o visa, have no work permit, i am not married or have a thai child (thank god) and that is pretty much it.

I know it is tough, but everything is possible. also though a 2. class pass

If there is a way or there are some tips availabe, I would be grateful to receive them. You can also PM me if you want to.

[trogers]

Better to rent a shop with floor area 80-100 sqm and convert the rear into a living/sleeping area. Kill 2 birdies with a stone.

Unlikely you are able to buy any condo under your name with local funds, or borrow through the name of a newly set up company with no credit history.

[atelko]

Better to rent a shop with floor area 80-100 sqm and convert the rear into a living/sleeping area. Kill 2 birdies with a stone.

Unlikely you are able to buy any condo under your name with local funds, or borrow through the name of a newly set up company with no credit history.

how can i get a credit through my newly set up company with no credit history? is that possible?

[trogers]

Better to rent a shop with floor area 80-100 sqm and convert the rear into a living/sleeping area. Kill 2 birdies with a stone.

Unlikely you are able to buy any condo under your name with local funds, or borrow through the name of a newly set up company with no credit history.

how can i get a credit through my newly set up company with no credit history? is that possible?

I meant - unlikely... able to buy..., or borrow...

[atelko]

Better to rent a shop with floor area 80-100 sqm and convert the rear into a living/sleeping area. Kill 2 birdies with a stone.

Unlikely you are able to buy any condo under your name with local funds, or borrow through the name of a newly set up company with no credit history.

how can i get a credit through my newly set up company with no credit history? is that possible?

I meant - unlikely... able to buy..., or borrow...

now i see...sorry for that

was looking just for a small condo. about 26-40sqm. just for sleeping and for a time out.

i want to have something that i can call home. renting a shop house would be an oportunity. was thinking about that, too. but the areas i was looking for the shop just have shops available and no shophouses. and if, the shophouses are in really bad shape.

[alyx]

Could you please let me know about your budget and the area sought after? Thanks

[atelko]

Could you please let me know about your budget and the area sought after? Thanks

The cheaper, the better

it should be either in Bangkok area or Pattaya, because I amcurrently going back and forward all the time.

I have seen interesting small apartements that were about 500k-650k. sure there are also some a bit above and also cheaper ones. but the round up makes the price interesting, not the price itself

[hhgz]

"Could you please let me know about your budget..."

"The cheaper, the better"

We were expecting that answer, but it still doesn't answer the question.

[atelko]

"Could you please let me know about your budget..."

"The cheaper, the better"

We were expecting that answer, but it still doesn't answer the question.

i did also say "but the round up makes the price interesting, not the price itself"

I would say not more than 800K or 1 Million.

[alyx]

You could easily find something in that range of price in Pattaya (actually not too far from the center and you could buy a motorcycle over there)

I don't know where you have seen those flats at that price in Bkk, but I believe they are poor standard (as in crowded community)

Mind you, you might be able to find what you need in the Pratunam area (the not so well to do side) or even Onut but I doubt any owner will be willing to accept a payment the way you intend to.

I do not think a bank will ease a mortgage for a non Thai; the best way would be to deal with the owner directly (if he is not in rush) but I see a problem there: the money has to be wired from abroad with the purpose of purchasing a flat

Furthermore you are targetting very low (pricewise), that means that your budget for a business is even lower: If I were you, I would rent a small place to see how the business is doing and start from there

[atelko]

You could easily find something in that range of price in Pattaya (actually not too far from the center and you could buy a motorcycle over there)

I don't know where you have seen those flats at that price in Bkk, but I believe they are poor standard (as in crowded community)

Mind you, you might be able to find what you need in the Pratunam area (the not so well to do side) or even Onut but I doubt any owner will be willing to accept a payment the way you intend to.

I do not think a bank will ease a mortgage for a non Thai; the best way would be to deal with the owner directly (if he is not in rush) but I see a problem there: the money has to be wired from abroad with the purpose of purchasing a flat

Furthermore you are targetting very low (pricewise), that means that your budget for a business is even lower: If I were you, I would rent a small place to see how the business is doing and start from there

you are right with pattaya. tchere are plenty of apartements available that are located in the center for that price range.

My business budget is not lower. it is much higher, but I just need a place to sleep that I want to decorate and change it also like I want it to be and thayt is not possible when renting it.

Sure just renting would be the wiser decision on one side. on the other side I do not lose anything. Then it is just a good holiday apartement for me and the family if something doesnt go well.

I just don´t want to pay cash, because I don´t want to have too many funds parked right away.

With the money transfer from abroad you mean the full ammount for getting the sale done?

but with a rent2own method that should be possible or not? oxr does it not matter how it is done with the owner and it needs to be shown the money coming from overseas?

[alyx]

There is not such a thing as rent2own for the non Nationals (I mean official)

You may draw a private contract (I would do it through a lawyer though) with the owner who is willing to sell and is not in need of immediate cash

if I were to sell I would not mind that but, as I said you have to be aware of the wiring system: you have to wire it from abroad stating the purpose of it.

Unfortunately a minimum (I can't remember how much but Bangkok bank know it) is required to be able to be issued the letter by the bank. this means that you do not have to wire the full amount in one go.

One other thing: do not expect to get the deed before everything has been paid (or the owner would be quite naïve)

As you have put it yourself: whatever happens you will be glad to have this flat for later years and 800.000 Baht is not a lot so buy cash or rent and buy when your business is OK

Edited December 21, 2009 by alyx