What Would You Do?

[muratremix]

Hello everyone,

I'm married to Thai citizen and planning to move to Thailand this summer. I have obligatory military service in my country, which I haven't attended yet, and to make it easier I have to be employeer or employed overseas for 3 years. After that, I'll be qualified for 21 days paid military service (Compared to 15 months). I have foreign income so I don't need to work. I also have some savings in cash, which I can use to open a business.

What I can't figure out is: What to do.

I'm 30 y.o and have no business experience. In first I attempted to jump into Rubber tree business but now I decided not to. I prefer to live in a big city like Bangkok or Chiang Mai or somewhere closer to these cities. I know question is a bit vague but what would you do if you had around 2-3 mill. baht capital? I'll need work permit from my company aswell.

I forget to mention, I am not after huge profit. I want to keep my work permit for the following years so there has to be some activity, little profit etc. I can't simply open an empty company with workers in paper to get my work permit. I heard that you can't renew your work permit for the following years. So what I need is a simple business with little or no losses (again, not after huge profits).

Thank you for your opinions.

[cihan]

murat i am in the same situation with you. can you pm me your messenger adresss so we can talk in turkish. if someone can give us usefull information about this case i will be pleased too..

[mccw]

I would say make a property company. Buy a couple of moo ban houses in chiang Mai (about 1.5mill each for 3beds) and rent them both out producing around 25,000bht pm income. Rent yourself a location with accommodation and shop front in falang traffic area, from which you make the estate agents renting and selling other peopled property taking commission. This option you'd be breaking even worst case senario and protected your capital investment.

If yourfeeling a little more adventurous try buying yourhouses off plan and selling once project finished, later attracting a about a 25% return on the land value (not land and house, only land).

Or if your prepared to take a bit more risk you could try buying a thai owned moo ban house from a distressed seller and doing it up to a falling spec (ie proper western kitchen and nice bathrooms with bath, hot water system, double electric connection for staple current and such things) with a view to sell it on.

Your 2000 other income should cover living costs and a couple of staff easily and still saving a good wedge each month even if the commissions don't bring in much to begin with.

I don't know anything about farming but would say from the point of view that your land value will likely rise if nothing else then not a bad idea but I'd of though a lot of hassles involved as they have laws against fotiengers to b in that area especially.

What ever u do don't buy a restaurant or bar!

Good luck

[muratremix]

I'll definately stay away from restaurant / bar business for sure. Buying / Renting / Renovating houses seems a good idea.However, one must have lived long enough to know whether house / apartment is a bargain or not (to avoid buying overpriced real estate).

[johninbkk]

I would say make a property company. Buy a couple of moo ban houses in chiang Mai (about 1.5mill each for 3beds) and rent them both out producing around 25,000bht pm income. Rent yourself a location with accommodation and shop front in falang traffic area, from which you make the estate agents renting and selling other peopled property taking commission. This option you'd be breaking even worst case senario and protected your capital investment.

If yourfeeling a little more adventurous try buying yourhouses off plan and selling once project finished, later attracting a about a 25% return on the land value (not land and house, only land).

Or if your prepared to take a bit more risk you could try buying a thai owned moo ban house from a distressed seller and doing it up to a falling spec (ie proper western kitchen and nice bathrooms with bath, hot water system, double electric connection for staple current and such things) with a view to sell it on.

Your 2000 other income should cover living costs and a couple of staff easily and still saving a good wedge each month even if the commissions don't bring in much to begin with.

I don't know anything about farming but would say from the point of view that your land value will likely rise if nothing else then not a bad idea but I'd of though a lot of hassles involved as they have laws against fotiengers to b in that area especially.

What ever u do don't buy a restaurant or bar!

Good luck

This has to be the worse advice I have ever heard. On what basis to you claim to get a return of 25% on rental income. And sell on at the click of your fingers to reap big profits.. I'll bet a billion DOLLARS property is not your line of work.....

[Deez]

I would say make a property company. Buy a couple of moo ban houses in chiang Mai (about 1.5mill each for 3beds) and rent them both out producing around 25,000bht pm income. Rent yourself a location with accommodation and shop front in falang traffic area, from which you make the estate agents renting and selling other peopled property taking commission. This option you'd be breaking even worst case senario and protected your capital investment.

If yourfeeling a little more adventurous try buying yourhouses off plan and selling once project finished, later attracting a about a 25% return on the land value (not land and house, only land).

Or if your prepared to take a bit more risk you could try buying a thai owned moo ban house from a distressed seller and doing it up to a falling spec (ie proper western kitchen and nice bathrooms with bath, hot water system, double electric connection for staple current and such things) with a view to sell it on.

Your 2000 other income should cover living costs and a couple of staff easily and still saving a good wedge each month even if the commissions don't bring in much to begin with.

I don't know anything about farming but would say from the point of view that your land value will likely rise if nothing else then not a bad idea but I'd of though a lot of hassles involved as they have laws against fotiengers to b in that area especially.

What ever u do don't buy a restaurant or bar!

Good luck

Surely your joking right?

[chainarong]

Well first of all you don't arrive in another country, then immediately start a business , most expats case the place out a few times ,then make a move , you need to give this a long hard think, because unless you are lucky ,it will probably turn to crap, like thousands before you, like everything anywhere, you can get burned very quickly, like the advice before , stay away from restaurants and bars and make sure you know what you can do and can't do, before you start , get a business multi entry visa so you can do business in Thai, but first I'd get some professional help, as you no nothing about Thai, ask Sunbelt Asia, never used them, but feed back is pretty good. Good luck.

[cihan]

can we find a company who can get us a work permit and show us on paper we are working in their business but in real we will not work. we can pay the costs of tax and give them some money. can anybody give us advise?

[falang07]

seems like the Turkish military service is rather unpopular

[cihan]

no problem with the popularity of the turkish army but i cant leave my wife here alone for 1 year and i dont want to lose my turkish passport too. we are just looking for a way to do our military service for short time.

[mccw]

I would say make a property company. Buy a couple of moo ban houses in chiang Mai (about 1.5mill each for 3beds) and rent them both out producing around 25,000bht pm income. Rent yourself a location with accommodation and shop front in falang traffic area, from which you make the estate agents renting and selling other peopled property taking commission. This option you'd be breaking even worst case senario and protected your capital investment.

If yourfeeling a little more adventurous try buying yourhouses off plan and selling once project finished, later attracting a about a 25% return on the land value (not land and house, only land).

Or if your prepared to take a bit more risk you could try buying a thai owned moo ban house from a distressed seller and doing it up to a falling spec (ie proper western kitchen and nice bathrooms with bath, hot water system, double electric connection for staple current and such things) with a view to sell it on.

Your 2000 other income should cover living costs and a couple of staff easily and still saving a good wedge each month even if the commissions don't bring in much to begin with.

I don't know anything about farming but would say from the point of view that your land value will likely rise if nothing else then not a bad idea but I'd of though a lot of hassles involved as they have laws against fotiengers to b in that area especially.

What ever u do don't buy a restaurant or bar!

Good luck

This has to be the worse advice I have ever heard. On what basis to you claim to get a return of 25% on rental income. And sell on at the click of your fingers to reap big profits.. I'll bet a billion DOLLARS property is not your line of work.....

Do you have problems reading? Take another look!

1) I said 25% increase on the 'land value' after project complete. I say this as a figure based on what has happened on the development I live on.

2) I then went on to say that he could get around 25,000bht per month rental income if he were to have 2 3bed moo ban houses at about 1.5mil bht each; which equates to about a 10% rental return, plus what ever capital increases occur over the period.

Not a bad investment at all. I acknowledge it might take time to sell up sure, but he's asking for a safe place for his money creating a reasonable return but without much risk.

Can either of u explain why this is a bad idea? Do you think the property Market in Thailand is going to crash or something? Over the next 5-10 years I expect land prices in Chiangmai to increase dramatically; because of population growth, rise of wealthy middle class and exhausting of developers current land stocks which when replenished will cost alot more this time around.

Not for housing development but as an example of price rises in the north - I own land in fang which has more than doubled in value over the last 5.

O.P: Through research over a couple of months living in change Mai should give you time enough to get to grips with the local Market. I'd recommend karnkanok moo ban as a good price and size off plan. Or their renovated condos on huaykeaw road near to nimanhim if u want something in your name at a good price and location but not such a good return.

Renovating , yes, I think u should wait until later for to identify your best target. I have my own ideas about this but think best for people to find their own.

Back to the chief critiser. You own me a billion dollars haha. My business is property rentals in the Uk. Bottom end of the Market being the most profitable. Splitting houses up to room by room units. They produce about 11 to 14% rental return , but because of mortgages of 75% currently at a cost of around 3.5% my actual return on investment is over 30%.

I have done developments before 08 but now this is the way to rake it in.

Not everyone can do this side of Market because lots of leg work and have to give sometimes not so gental persuasion to people to pay their rents or summery eviction. No messing about with the courts.

Now is a good time to snap up a bargin from distressed sellers in Uk , eu and USA from what I can see. Maybe next year could drop some more, but rents will be in great demand and interest rates keep low so no big deal.

[mccw]

can we find a company who can get us a work permit and show us on paper we are working in their business but in real we will not work. we can pay the costs of tax and give them some money. can anybody give us advise?

I have heard of people doing this. Not sure I would trust it myself but if your need musr could be worth a shot so long as u don't hand over too much money upfront and rest later only after documents in your hand and independently verified.

[fatfather]

....I know question is a bit vague but what would you do if you had around 2-3 mill. baht capital?...

Stay at home and make more money. 2-3 mill is no sufficient start polster. It will be eaten up in two to three years with organizing/buying the basics. The girls will care for the rest.

fatfather

[mccw]

Where's my billion dollars man 55

nothing intelligent to say, no suggestions to make, no debate, just a load of shit talking Without brain to back it up , that's u John in BKK

[muratremix]

....I know question is a bit vague but what would you do if you had around 2-3 mill. baht capital?...

Stay at home and make more money. 2-3 mill is no sufficient start polster. It will be eaten up in two to three years with organizing/buying the basics. The girls will care for the rest.

fatfather

Then what is sufficient enough to start a business in your opinion?

[maprao]

Do you have problems reading? Take another look!

Back to the chief critiser. You own me a billion dollars haha.

Not everyone can do this side of Market because lots of leg work and have to give sometimes not so gental persuasion to people to pay their rents or summery eviction. No messing about with the courts.

Where's my billion dollars man 55

nothing intelligent to say, no suggestions to make, no debate, just a load of shit talking Without brain to back it up , that's u John in BKK

If he has trouble reading you may wish to look at your writing skills. The rant is not even addressed at me and I thought it was a bit OTT

On your second point you may wish to do some research on "merit" and "karma" while you are in Thailand and reflect on your ways.

Each to their own. No offence intended. I thought the original idea was a good one. :jap:

[mccw]

^ I have gone over the karma implications and I don't believe kicking some one out myself if they don't pay their rent for more than 2 months, rather than potentially loose another 6 from bureaucracy, is at all negative karma. 2 months is when the law allows u to request court for bailiffs to evict anyway, just problem is the longness and backlog in the courts and services not the law; 2 months is the rule.

I've got to pay the mortgages, stay alive and a family to take care of; it's business not a charity doss house.

Merit it taking care yourself and not making problems for other people; giving to charity or doing kindness where you can. I'd say it's the free loaders trying to take advantage of the system who are incurring negative karma.

Yes my writing skills are not topnotch, but it is easily understandable.

I'll be more than happy to engage in debate about the economy, housing Market, business ideas , politics or what have u. But, Such a thing is hard if people just make things up in their minds with out it actually written on the page, talk Mai dee and then have nothing to back up their words.

It is annoying and some time leads me to b a bit ott than I would otherwise normally b.

At least if there's a bit of banter and he comes back with an intelligent answer to my questions I'd have a bit of respect for him; but like this, it's like I said before , just shit talking with no brains to back it up.