Money To Burn

[DanBlack]

We have a couple of million Bt (to our name) and decided a small rental house would be the safest investment. Has anyone seen any good deals in the southern end of the island. 2-3 million range. Maybe a fixer upper

[johnyb]

for 3.000.000 thai baht you have a castle in isaan.

johnyb

[LivinLOS]

And a shed on phuket

More up around talang etc but the rental return on this type of home is pretty awful IMO.

[gotlost]

for 3.000.000 thai baht you have a castle in isaan.

johnyb

Hel-l that would buy you Isaan.

[gvallee2]

THey have new sea view condos in phuket town near boat lagoon, in the mountain. 3 condos per building around a big pool.

Go check it out, behind the outlet stores on bypass.

1br is 2.5 and 2 br 4.7

first place i have seen in thailand using quality materials+wood

[steelepulse]

Haven't seen anything in the south, but as LIL says look around Thalang. Mrs Steelepulse and I bought a new house there a couple of years ago and have maybe 3 mil into it, and we have good solid renters for 18K, which more than pays the mortgage.

[stuandchris]

Maybe better to buy some honey! Sorry mate I just couldn't resist it.

[katabeachbum]

And a shed on phuket

More up around talang etc but the rental return on this type of home is pretty awful IMO.

yeap, just to many owners want their morgage covered by tenants

3 mill baht I d have a look at the waterfront townhouses in Boat Lagoon. Rentals seems good

3 mill baht could get you something in Land & House in chalong, but rentals limits at 18-20k month for year lease

[WazzaPhuket]

Hi Dan,

Plenty of good properties in Rawai/Southern Phuket.Most beautiful part to live.

Contact me with your details.Warren.0812704291.....

[KarenBravo]

A small 2 to 3 million Baht property the safest?

There's a lot of competion in both renting and selling this price range of property. Once bought, there's no turning back. If you wanted to sell it for what you thought was a fair price, you could be waiting years. Can be very vexing in an emergency and you need the cash now.

Frankly, if, as the OP suggests, that this is all the money they have, then maybe they should keep it liquid and then maybe have a peek at the job market in the first world.

[WOOHOO]

Frankly, if, as the OP suggests, that this is all the money they have, then maybe they should keep it liquid and then maybe have a peek at the job market in the first world.

what a strange thing to say! I don't think the op was looking for career advice. I've got less money than him at the moment, and I'm not looking for a Job.

[DanBlack]

Frankly, if, as the OP suggests, that this is all the money they have, then maybe they should keep it liquid and then maybe have a peek at the job market in the first world.

what a strange thing to say! I don't think the op was looking for career advice. I've got less money than him at the moment, and I'm not looking for a Job.

It is very common advice from Thais and farangs. "Go home to the land of plenty. Work a couple of months, and come back rich"

[markg]

A small 2 to 3 million Baht property the safest?

There's a lot of competion in both renting and selling this price range of property. Once bought, there's no turning back. If you wanted to sell it for what you thought was a fair price, you could be waiting years. Can be very vexing in an emergency and you need the cash now.

Frankly, if, as the OP suggests, that this is all the money they have, then maybe they should keep it liquid and then maybe have a peek at the job market in the first world.

Good advice from KarenBravo. Westerners often look at housing as a pretty safe investment because of how things work in the West. It really isnt the same here. 3 million gets you an adequate dwelling for yourself to live in forever, but as an investment - it's competing against hundreds of other similar properties, with more and more new ones in that price range being built.

Coming to sell a property like that is very very hard. Many Thai people are a little superstitious about buying second hand houses, and furthermore, they can get a brand new house for the same price. I know a dozen people who have had a house on the market for more than 12 months or more and failed to sell it.

If you are sure you are going to stay here forever then buy here and rent it out or live in it.

If you think there is a possibility you may need to resell the house and liquidate your cash then forget it. Buy in your home country. You know the laws, rules and regulations there - and if you don't you can at least read up on them in your own language. There must be heaps of repossessed houses in Europe and the US at the moment.

With the equivalent of 3 million baht, i'd buy a nice 2 up/2 down terraced house in the UK and rent it out. In fact, 3 years ago i was faced with exactly this dilemma. Buy here or buy at home. I played safe and bought at home and i'm happy i did so. I know what i m doing back at home. Things could change here very quickly. and rules for foreigners only seem to get tighter.

Just my view.

[LivinginKata]

Dan, have you thought about buying a shop house ? You could start up a business there for your wife and live above the shop, and rent out your own house. That way you are giving yourself 2 opportunities to make some income.

[DanBlack]

Dan, have you thought about buying a shop house ? You could start up a business there for your wife and live above the shop, and rent out your own house. That way you are giving yourself 2 opportunities to make some income.

Yea, we did think of that, but could not come up with anything to sell that would make a small profit. Even our store that did pretty well was not enough to pay for our meager lifestyle

There sure is a lot of shop houses to choose from though

[steelepulse]

I'd dare say there's an oversupply of shophouses. I've seen many vacant for over a year now.

[katabeachbum]

I'd dare say there's an oversupply of shophouses. I've seen many vacant for over a year now.

arent many sales forced by banks in phuket, but when any, mostly shophouses

thailand is changing, shophouse business is decreasing, shoppingcenters increasing

[LivinLOS]

Frankly, if, as the OP suggests, that this is all the money they have, then maybe they should keep it liquid and then maybe have a peek at the job market in the first world.

what a strange thing to say! I don't think the op was looking for career advice. I've got less money than him at the moment, and I'm not looking for a Job.

It is very common advice from Thais and farangs. "Go home to the land of plenty. Work a couple of months, and come back rich"

And what would be wrong with that ??

Did pretty much exactly that by accident last year.

[DanBlack]

And what would be wrong with that ??

Did pretty much exactly that by accident last year.

Well if you ever accidently do it again. Can you pick a bag of money off the farang tree for me too

[KarenBravo]

Over twenty years ago, you could rent a bar in Karon for 100,000 Baht for a three year contract, pay 5000 Baht rent a month and make enough to survive quite comfortably.

During time, prices for contracts and rents on any kind of premises have gone skyward and now there seems to be just too many bars, restaurants, massage shops etc. etc. etc.

To actually make a business here in Phuket that will support you is, as you know, not easy.

You either need to have a lot of money in the first place, or, a great idea that is difficult to copy.

Obviously, you are not in the first catagory. As for the second catagory, you periodically come here and either ask for an idea, or, pitch an idea.

So far, over at least the last three years, you haven't had any success. Meanwhile, the money you do have dwindles.

Seems to me that there are only three possible outcomes here.

You start a small business with the money you have and you make enough to stay.

You start a small business with the money you have and you go bust.

You go and earn money in a first world country.

You haven't had much luck with the first.

You have already experienced the second.

Maybe time to explore the third option? I know you're a relatively young man and these are your earning years. Don't forget, you not only have to make enough money to live, but, you need to save for your old age, too. Plus you have a young child. Are you happy with a Thai education?

OK people, flame away.

[LivinLOS]

BTW for the OP, in the price segment your after theres some condos on the country club, many being refurbed (as are the common areas) and an OK size.

Benefits are condo ownership, country club location (golf rent / vacation rent), and pretty keen price for the size you get.

[crusty]

Dan, have you thought about buying a shop house ? You could start up a business there for your wife and live above the shop, and rent out your own house. That way you are giving yourself 2 opportunities to make some income.

Agreed, the best of both worlds, with some Russian ladies down below, you should get a payback within the year.

[steelepulse]

Over twenty years ago, you could rent a bar in Karon for 100,000 Baht for a three year contract, pay 5000 Baht rent a month and make enough to survive quite comfortably.

During time, prices for contracts and rents on any kind of premises have gone skyward and now there seems to be just too many bars, restaurants, massage shops etc. etc. etc.

To actually make a business here in Phuket that will support you is, as you know, not easy.

You either need to have a lot of money in the first place, or, a great idea that is difficult to copy.

Obviously, you are not in the first catagory. As for the second catagory, you periodically come here and either ask for an idea, or, pitch an idea.

So far, over at least the last three years, you haven't had any success. Meanwhile, the money you do have dwindles.

Seems to me that there are only three possible outcomes here.

You start a small business with the money you have and you make enough to stay.

You start a small business with the money you have and you go bust.

You go and earn money in a first world country.

You haven't had much luck with the first.

You have already experienced the second.

Maybe time to explore the third option? I know you're a relatively young man and these are your earning years. Don't forget, you not only have to make enough money to live, but, you need to save for your old age, too. Plus you have a young child. Are you happy with a Thai education?

OK people, flame away.

Do you know the OP, or have you sleuthed your way to come to these conclusions about OP's history?

[Old Croc]

Do you know the OP, or have you sleuthed your way to come to these conclusions about OP's history?

[KarenBravo]

Do you know the OP, or have you sleuthed your way to come to these conclusions about OP's history?

I've seen him, but, never met him. He's been posting here on the Phuket forum for a number of years now.

He started off having a boat for lease (party boat?). Then he had a mini-mart that he was trying to set up with foreigner food. Then came the honey fiasco. Now, it's property.

So.....I guess the answer to your question was a bit of very easy sleuthing.

[steelepulse]

Funny I didn't know Phuket had it's very own version of inspector Clouseau. For humour here are a couple quotes:

"Now let me bring you up to speed .. we know nothing! You are now up to speed." - Inspector Jacques Clouseau.

"We shall see who is the one that will be saying nonsensical things that are sensing of nonsense." - Inspector Jacques Clouseau

[KarenBravo]

OH yes......Dan has a young child as I saw his pregnant wife when I bought a packet of smokes in his shop.

Hardly detective work, all yer gotta do is read past posts.