Darrel Posted September 19, 2011 Share Posted September 19, 2011 Does anyone buy property as a "short-term" investment ? Certainly, I don't know anyone, including members here, who have done it, nor I doubt would even consider it. What returns are these people thinking they'll get ? In what time period: 6 months, 1 year ? There are many people doing this in Pattaya. I suspect that many units in most new developments are sold (initially) to people who have not the slightest intention of ever living in them or renting them out. They hope to buy at a discount to list price and resell later, often before the building is even finished. Sometimes it pays off. Sometimes it doesn't. On top of that you have the people who buy "fire sale" resale properties in order to put them straight back on the market at a higher price, possibly after a little "renovation" (aka painting) that is usually done on the cheap. Some property owners here (or their inheritors) might be surprised to learn exactly what happens when they put property on the market at a "quick sale" price with some agents. 1 Link to comment Share on other sites More sharing options...
craigt3365 Posted September 20, 2011 Share Posted September 20, 2011 Does anyone buy property as a "short-term" investment ? Certainly, I don't know anyone, including members here, who have done it, nor I doubt would even consider it. What returns are these people thinking they'll get ? In what time period: 6 months, 1 year ? There are many people doing this in Pattaya. I suspect that many units in most new developments are sold (initially) to people who have not the slightest intention of ever living in them or renting them out. They hope to buy at a discount to list price and resell later, often before the building is even finished. Sometimes it pays off. Sometimes it doesn't. On top of that you have the people who buy "fire sale" resale properties in order to put them straight back on the market at a higher price, possibly after a little "renovation" (aka painting) that is usually done on the cheap. Some property owners here (or their inheritors) might be surprised to learn exactly what happens when they put property on the market at a "quick sale" price with some agents. We've seen this recently, right? That unit which was sold in a fire sale for 1.9MB, reno'ed for about 500k or so, back on the market in a matter of a few months for 3.9MB. Nice profit. The guy who did the build out on my house does this with lower end Thai style houses and flips them with a nice profit. The Thai market is doing quite well...the farang market is not... Link to comment Share on other sites More sharing options...
london Posted September 20, 2011 Share Posted September 20, 2011 Does anyone buy property as a "short-term" investment ? Certainly, I don't know anyone, including members here, who have done it, nor I doubt would even consider it. What returns are these people thinking they'll get ? In what time period: 6 months, 1 year ? There are many people doing this in Pattaya. I suspect that many units in most new developments are sold (initially) to people who have not the slightest intention of ever living in them or renting them out. They hope to buy at a discount to list price and resell later, often before the building is even finished. Sometimes it pays off. Sometimes it doesn't. On top of that you have the people who buy "fire sale" resale properties in order to put them straight back on the market at a higher price, possibly after a little "renovation" (aka painting) that is usually done on the cheap. Some property owners here (or their inheritors) might be surprised to learn exactly what happens when they put property on the market at a "quick sale" price with some agents. We've seen this recently, right? That unit which was sold in a fire sale for 1.9MB, reno'ed for about 500k or so, back on the market in a matter of a few months for 3.9MB. Nice profit. The guy who did the build out on my house does this with lower end Thai style houses and flips them with a nice profit. The Thai market is doing quite well...the farang market is not... Well, I live and learn. Thanks to both of you for the info. I am a buyer and holder.....but with opportunities like this around, well..... Thanks again. Regards Link to comment Share on other sites More sharing options...
Thaifan2 Posted September 20, 2011 Share Posted September 20, 2011 yes I have seen many over priced small condos in Pattaya, but there is also good large condos at bargin prices. 120 sq.m. 3 bed 3 bath central location as you say for 1.5M baht you just need to look around Where in Nirun ;-) Link to comment Share on other sites More sharing options...
craigt3365 Posted September 20, 2011 Share Posted September 20, 2011 Well, I live and learn. Thanks to both of you for the info. I am a buyer and holder.....but with opportunities like this around, well..... Thanks again. Regards It hasn't sold yet, so we'll have to wait and see when and IF this person makes a profit. I'm pretty sure they will as he does lots of biz in the building. We visited several buildings today. All sold out. We were bottom fishing for the last few remaining units in the Thai quota. So units are being sold. I think these buildings are 2-3 years old. Not a short time, but they are almost 100% sold out. Link to comment Share on other sites More sharing options...
Livinginexile Posted September 24, 2011 Share Posted September 24, 2011 so what are you going to do pick your house up and move it somewhere else? why don't someone start importing manufactured house or trailers and be done with it? be funny seeing the exodus up the sukhimvit rd after another relationships gone bad could start our very own gypsy camp? Hey now there's a really good idea! Portable houses! I can see the sales pitch now...."Girlfriend giving you a hard time? just hitch up the porta-house and move to the next village"! Fantastic! Link to comment Share on other sites More sharing options...
chrisandsu Posted September 24, 2011 Share Posted September 24, 2011 Hey now there's a really good idea! Portable houses! I can see the sales pitch now...."Girlfriend giving you a hard time? just hitch up the porta-house and move to the next village"! Fantastic! [/quote think we have hit on something there , and only agree to installation contracts where as the land is the worst of the worst where nothing grows then its a win win , ! guess that's all the pre nuptial you will ever need Link to comment Share on other sites More sharing options...
trogers Posted September 25, 2011 Share Posted September 25, 2011 Hey now there's a really good idea! Portable houses! I can see the sales pitch now...."Girlfriend giving you a hard time? just hitch up the porta-house and move to the next village"! Fantastic! [/quote think we have hit on something there , and only agree to installation contracts where as the land is the worst of the worst where nothing grows then its a win win , ! guess that's all the pre nuptial you will ever need Why bother with technical issues of portable houses when a caravan suffice? Gypsies, tramps and thieves - Cher? Link to comment Share on other sites More sharing options...
chrisandsu Posted September 25, 2011 Share Posted September 25, 2011 lol and get rid of the soi dogs and invest in some lurchers (dogs gypseys use when racing the hare) i will be feeling right at home Link to comment Share on other sites More sharing options...
chrisandsu Posted September 25, 2011 Share Posted September 25, 2011 (edited) lol and get rid of the soi dogs and invest in some lurchers (dogs gypseys use when racing the hare) i will be feeling right at home Another idea would be one of those modular homes they come in two pieces if she upsets you just take the half with the kitchen . i was actually looking at land here and was planning on getting a shipping container and fitting it out like a house with a kitchen living room and bedroom just to be used as a shall we say a cabin away from the city ! im sure bangkok has a surplus of these and easily transported Edited September 25, 2011 by chrisandsu Link to comment Share on other sites More sharing options...
trogers Posted September 25, 2011 Share Posted September 25, 2011 lol and get rid of the soi dogs and invest in some lurchers (dogs gypseys use when racing the hare) i will be feeling right at home Another idea would be one of those modular homes they come in two pieces if she upsets you just take the half with the kitchen . i was actually looking at land here and was planning on getting a shipping container and fitting it out like a house with a kitchen living room and bedroom just to be used as a shall we say a cabin away from the city ! im sure bangkok has a surplus of these and easily transported Shipping containers? Now we are upgrading from caravans to housing for construction workers...lol Link to comment Share on other sites More sharing options...
CaptainPeacock Posted March 1, 2012 Share Posted March 1, 2012 JeffreyMcCollum, on 2011-09-09 05:28:27, said: yes I have seen many over priced small condos in Pattaya, but there is also good large condos at bargin prices. 120 sq.m. 3 bed 3 bath central location as you say for 1.5M baht you just need to look around Yeah i've been looking around pattaya and there are some bargains, however as my girl friend pointed out some are really cheap cos...they have ghosts! Say Jeff are you getting a disturbance free and peaceful nights kip... Link to comment Share on other sites More sharing options...
hughden Posted March 3, 2012 Share Posted March 3, 2012 I agree with the OP, prices are too high right now. And I also make that comparison in my circle of friends, it's an interesting comparison since many consider both cities to be "sin city" in some sort of way. I own homes in both locations, and I consider the Vegas purchase I made recently a great value for the price. I think if Pattaya came down just a bit on their prices, houses would really start to move again. I don't see many Americans or Europeans making purchases in my project now. I do see Russians though, which is an interesting fact. And in Vegas, when I made the purchase there 5 months ago, I saw Russians and Europeans buying mostly not Americans. Who are buying the 51% local portion? The Thais are buying the local portion! Go to many of the new condo projects and you will find the majority of the buyers are Thais from Bangkok, buying a fallback for when the floods come again. Link to comment Share on other sites More sharing options...
Baxer Posted March 5, 2012 Share Posted March 5, 2012 so what are you going to do pick your house up and move it somewhere else? why don't someone start importing manufactured house or trailers and be done with it? be funny seeing the exodus up the sukhimvit rd after another relationships gone bad could start our very own gypsy camp? Hey now there's a really good idea! Portable houses! I can see the sales pitch now...."Girlfriend giving you a hard time? just hitch up the porta-house and move to the next village"! Fantastic! Actually, it's already done......... http://www.tajland.se/projecten/index.html Link to comment Share on other sites More sharing options...
bbradsby Posted March 7, 2012 Share Posted March 7, 2012 Yeah i've been looking around pattaya and there are some bargains, however as my girl friend pointed out some are really cheap cos...they have ghosts! ya, after a hit one has to clean up just a bit before taking the Listing photos: http://blog.sfgate.com/ontheblock/2012/03/05/what-not-to-do-when-selling-terrible-listing-photos/#3525-8 Link to comment Share on other sites More sharing options...
PattayaPhom Posted March 8, 2012 Share Posted March 8, 2012 Apples and oranges really...Pattaya has some fantastic seaviews over Koh Larn etc...Vegas...............dusty sand view...not sure I would feel safe walking down the main drag at 3am in Vegas either....look around, there are some great seaview condos 68sqm at just over 2 Mil in Jomtien Link to comment Share on other sites More sharing options...
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