Land Appraisal

[7waverunner7]

Hello all,

New to the forum and my first post.

I have been going to LOS for 6 years. After being the playboy/butterfly, I now have a gf there. She is a good person

and has a good family that I met One sister outside Korat is doing well with rice farming and the gf wants in.

Her sister informed us about 12 rai that's available. Is there someone that appraises land there?

All I know is the guy wants 50k/rai and its supposedly good land and near water supply.

Of course it falls on me to finance this thing, and I dont have a clue about all this. I want to get this land for us, (her) to

bring in money for the future. But she is pissing me off by not being proactive about any of this and not giving me

particulars about the deal, (proximity to water, road,water costs ,tax, hidden costs, who is going to grow the rice, ect).

I know I can't own land, but want to maybe get in on this for my retirement and just tell her to piss off as far as that is concerned.

I have and will continue to read the forum, but want to move faster than that also. Any help is appreciated.

[jamescollister]

Don't buy or pay for anything unless you are there to see what's going on. If you just want to give the G/F a wad of cash to make her happy different story. Jim

[slapout]

The district land office where the land is located has recorded valuation on the land. This has been done in the past few years for most of Thailand, I am told. Its a good place to start.

The valulation seems to be based on access to major roads (highway). In the Fang area chanote land bordering highway is valued at 100,000 baht/rai as this distence increases it goes to about 30,000 as a low figure. It appears they throw in potential development, in the values they have assigned.

You need to check on avaliable water, electric, and access. These figures are for chanoted land with the 3 mentioned varables.

[loong]

I know I can't own land, but want to maybe get in on this for my retirement and just tell her to piss off as far as that is concerned.

I really don't understand what you are saying here.

If you pay $20,000 for this land, you are only investing for your retirement if it happens that you are still with your GF when you are ready to retire or reach retirement age.

Otherwise you are just handing a gift of $20,000 to your GF.

90% chance that you are just handing over a gift.

Edited June 11, 2012 by loong

[7waverunner7]

I know I can't own land, but want to maybe get in on this for my retirement and just tell her to piss off as far as that is concerned.

I really don't understand what you are saying here.

If you pay $20,000 for this land, you are only investing for your retirement if it happens that you are still with your GF when you are ready to retire or reach retirement age.

Otherwise you are just handing a gift of $20,000 to your GF.

90% chance that you are just handing over a gift.

I have an American lawyer that can help me set up the company, (which I also need to learn what thats about.)

I am working in Afghanistan and only get a few weeks at a time every four months

to take care of all this stuff, along with trying to relax from working in this dump of a country.

She wants to rent the land to rice growers and not do anything but collect money, but has not

really shown me much in terms of know how on this. So I'm thinking I need a crash course on Thai land

so I can benefit.

Dont get me wrong, nice girl, she is just in a fog from being dumped a couple years ago by her farang ex.

[jamescollister]

I know I can't own land, but want to maybe get in on this for my retirement and just tell her to piss off as far as that is concerned.

I really don't understand what you are saying here.

If you pay $20,000 for this land, you are only investing for your retirement if it happens that you are still with your GF when you are ready to retire or reach retirement age.

Otherwise you are just handing a gift of $20,000 to your GF.

90% chance that you are just handing over a gift.

I have an American lawyer that can help me set up the company, (which I also need to learn what thats about.)

I am working in Afghanistan and only get a few weeks at a time every four months

to take care of all this stuff, along with trying to relax from working in this dump of a country.

She wants to rent the land to rice growers and not do anything but collect money, but has not

really shown me much in terms of know how on this. So I'm thinking I need a crash course on Thai land

so I can benefit.

Dont get me wrong, nice girl, she is just in a fog from being dumped a couple years ago by her farang ex.

Anyone who tells you they can set up a company to keep you safe is lying. Heard all the schemes. find a lawyer that will give a written guarantee to compensate you if thinks go wrong and I may have some faith. Otherwise they take your money and when things go bad, you are on your own. Jim

[loong]

I know I can't own land, but want to maybe get in on this for my retirement and just tell her to piss off as far as that is concerned.

I really don't understand what you are saying here.

If you pay $20,000 for this land, you are only investing for your retirement if it happens that you are still with your GF when you are ready to retire or reach retirement age.

Otherwise you are just handing a gift of $20,000 to your GF.

90% chance that you are just handing over a gift.

I have an American lawyer that can help me set up the company, (which I also need to learn what thats about.)

I am working in Afghanistan and only get a few weeks at a time every four months

to take care of all this stuff, along with trying to relax from working in this dump of a country.

She wants to rent the land to rice growers and not do anything but collect money, but has not

really shown me much in terms of know how on this. So I'm thinking I need a crash course on Thai land

so I can benefit.

Dont get me wrong, nice girl, she is just in a fog from being dumped a couple years ago by her farang ex.

Good thinking, set up a company. Of course you will only be able to own 49% and 51% will be owned by Thais. If you supply the cash for the Thais to own the other 51%, you are breaking the law and leaving yourself open to all sorts of problems. At the moment, foreigners are getting away with owning land through a Thai nominee but that is likely to change, there have been enough warning shots over the last couple of years.

[jamescollister]

I know I can't own land, but want to maybe get in on this for my retirement and just tell her to piss off as far as that is concerned.

I really don't understand what you are saying here.

If you pay $20,000 for this land, you are only investing for your retirement if it happens that you are still with your GF when you are ready to retire or reach retirement age.

Otherwise you are just handing a gift of $20,000 to your GF.

90% chance that you are just handing over a gift.

I have an American lawyer that can help me set up the company, (which I also need to learn what thats about.)

I am working in Afghanistan and only get a few weeks at a time every four months

to take care of all this stuff, along with trying to relax from working in this dump of a country.

She wants to rent the land to rice growers and not do anything but collect money, but has not

really shown me much in terms of know how on this. So I'm thinking I need a crash course on Thai land

so I can benefit.

Dont get me wrong, nice girl, she is just in a fog from being dumped a couple years ago by her farang ex.

Good thinking, set up a company. Of course you will only be able to own 49% and 51% will be owned by Thais. If you supply the cash for the Thais to own the other 51%, you are breaking the law and leaving yourself open to all sorts of problems. At the moment, foreigners are getting away with owning land through a Thai nominee but that is likely to change, there have been enough warning shots over the last couple of years.

The nominee loop hole was closed in 2009, it is now a prison-able offence for both Thai and foreginer to be invoked. Too many people just think they are smarter then the system, for some they may just keep under the radar, Other will be in for a fall, TIT step carefully always. JIm

[somo]

50k/rai for agricultural land is at the top end of the range. If your GF just wants to sit back and collect the rent she will probably only be able to get about 7 or 800 Baht/rai/year which is a lousy return on 50k.

My strong advice is to forget it until you are able to live here and oversee things properly.

[7waverunner7]

50k/rai for agricultural land is at the top end of the range. If your GF just wants to sit back and collect the rent she will probably only be able to get about 7 or 800 Baht/rai/year which is a lousy return on 50k.

My strong advice is to forget it until you are able to live here and oversee things properly.

Seems there is a very strong opinion against this type of investment, which I figured I would get anway. Nothing is easy in this country

for farang is it? That little voice in my head has been sounding the alarm for awhile now, so I better listen. Dont do this!

What is the nominee loophole? So your saying I could go to jail if I finance the deal for a Thai company to own property/land?

[jamescollister]

Nominee companies, were in vogue years back. A company was formed, the farang fronted all the money and some Thais you never met signed up as shareholders. A paper game to circumvent Thai land ownership laws. 2009 the law was change which made these set ups illegal. Now if you want to form a company the Thais have to put up their own money and be able to prove it was their money, thus they really do own 51 % of that company, a Thai majority company

There is no safe way for a farang to own or control land in Thailand, if you don't trust your wife G/F then better to rent. Jim

[7waverunner7]

Nominee companies, were in vogue years back. A company was formed, the farang fronted all the money and some Thais you never met signed up as shareholders. A paper game to circumvent Thai land ownership laws. 2009 the law was change which made these set ups illegal. Now if you want to form a company the Thais have to put up their own money and be able to prove it was their money, thus they really do own 51 % of that company, a Thai majority company

There is no safe way for a farang to own or control land in Thailand, if you don't trust your wife G/F then better to rent. Jim

Wow, that's something the lawyer never told me. Real estate companies either! Thanks for the info.

[loong]

Nominee companies, were in vogue years back. A company was formed, the farang fronted all the money and some Thais you never met signed up as shareholders. A paper game to circumvent Thai land ownership laws. 2009 the law was change which made these set ups illegal. Now if you want to form a company the Thais have to put up their own money and be able to prove it was their money, thus they really do own 51 % of that company, a Thai majority company

There is no safe way for a farang to own or control land in Thailand, if you don't trust your wife G/F then better to rent. Jim

Wow, that's something the lawyer never told me. Real estate companies either! Thanks for the info.

You're getting good advice and it seems that you realise it. Well done! As long as you resist all the "Why don't you love me" crap when your Thai lady is pushing for you to buy the land.

[7waverunner7]

Nominee companies, were in vogue years back. A company was formed, the farang fronted all the money and some Thais you never met signed up as shareholders. A paper game to circumvent Thai land ownership laws. 2009 the law was change which made these set ups illegal. Now if you want to form a company the Thais have to put up their own money and be able to prove it was their money, thus they really do own 51 % of that company, a Thai majority company

There is no safe way for a farang to own or control land in Thailand, if you don't trust your wife G/F then better to rent. Jim

Wow, that's something the lawyer never told me. Real estate companies either! Thanks for the info.

You're getting good advice and it seems that you realise it. Well done! As long as you resist all the "Why don't you love me" crap when your Thai lady is pushing for you to buy the land.

HaHa! Cmon guys , give the Thai ladies a break! She isn't doing that, and I dont expect it. Only suggests what she wants in life, (after I asked) with hope that I will get it for her, like any woman does to the man in her life. By taking all this advice I am protecting me , and her from herself.

Now had she come to me with spread sheets, valuations, price/ rai, income predictions, ect. , I would have put faith in her and done the deal.

But seems Thai way is "Hope for the best because I have no control over my life" mindset. This is more off putting than anything. I'm concerned

she will become an anchor to this boat.

[jamescollister]

OP just something that has not been mentioned in the above posts. $20,000 is a fair chuck of change, but it is not a life changer. If the girl means a lot to you, that maybe a life changer, some times you just have to go with your gut.

Had a yank here who dropped well over $100,000 on a girl and it was not the girl who screwed him over. He did it himself, by not wanting a happy life with his wife. The nightly change of bar girls in Pattaya cost him the money and a good Thai wife.

I live here and have nothing left in the west, have a great wife and 2 beautiful children. Over 100 rai and a limited partnership company, yet I know if things went bad all I would get is my backpack and my passport. Would it be any different if I was in OZ or the UK, no they would have it all and I would be paying child support until I gave up the ghost.

Sometimes you just have to take a risk, somet you win and others you lose, Jim

[somo]

OP just something that has not been mentioned in the above posts. $20,000 is a fair chuck of change, but it is not a life changer. If the girl means a lot to you, that maybe a life changer, some times you just have to go with your gut.

Had a yank here who dropped well over $100,000 on a girl and it was not the girl who screwed him over. He did it himself, by not wanting a happy life with his wife. The nightly change of bar girls in Pattaya cost him the money and a good Thai wife.

I live here and have nothing left in the west, have a great wife and 2 beautiful children. Over 100 rai and a limited partnership company, yet I know if things went bad all I would get is my backpack and my passport. Would it be any different if I was in OZ or the UK, no they would have it all and I would be paying child support until I gave up the ghost.

Sometimes you just have to take a risk, somet you win and others you lose, Jim

Well said! Although I know of many unhappy examples some farangs are so cyncal they don't give themselves a chance of being happy and think they are being worldly wise rejecting any love coming their way. So far my instincts have served me well but if I hadn't trusted them I wouldn't have found the happiness I now have.

[jamescollister]

OP just something that has not been mentioned in the above posts. $20,000 is a fair chuck of change, but it is not a life changer. If the girl means a lot to you, that maybe a life changer, some times you just have to go with your gut.

Had a yank here who dropped well over $100,000 on a girl and it was not the girl who screwed him over. He did it himself, by not wanting a happy life with his wife. The nightly change of bar girls in Pattaya cost him the money and a good Thai wife.

I live here and have nothing left in the west, have a great wife and 2 beautiful children. Over 100 rai and a limited partnership company, yet I know if things went bad all I would get is my backpack and my passport. Would it be any different if I was in OZ or the UK, no they would have it all and I would be paying child support until I gave up the ghost.

Sometimes you just have to take a risk, somet you win and others you lose, Jim

Well said! Although I know of many unhappy examples some farangs are so cyncal they don't give themselves a chance of being happy and think they are being worldly wise rejecting any love coming their way. So far my instincts have served me well but if I hadn't trusted them I wouldn't have found the happiness I now have.

There are many who have found a life here and those who lose would have lost in any country. That's life. Jim