Selling gold - taxes

[mozzieslapper]

looking at this ad in this forum, why the hell would you need to give 4 million key money for an established business?

http://www.thaivisa.com/forum/topic/514587-established-pattaya-hotel-for-sale/

Edited July 12, 2012 by mozzieslapper

[samsiam]

Its a scam...but an accepted asian scam and that company loves supporting it.

The landlord wants the equivelant of 2 and a half years rent up front as a separate amount...not deposit...then if you go broke in 1 year...tough titties and he makes a packet.

Basically it means the rent is the equivelant of 150,000 per month instead of 127k...but the lump sum means the landlord gets a nice little bundle up front to do shit with...like buy a new car and condo....but the biz owner funds it and loses it if he goes broke before 2 and a half years.

Its a suckers game.

[Darrel]

Its a suckers game.

That phrase should probably have a pinned topic all of its own, in bright red flashing letters.

[CMSteve]

"Salaries for the 6 full time and one part time employees run at 32,500 a month. " I've never been to Pattaya. Is this possible?

[yoshiwara]

It is not necessarily a scam and quite standard. In the West would be known as 'goodwill'. Just another cost to factor in.

[Naam]

"Salaries for the 6 full time and one part time employees run at 32,500 a month. " I've never been to Pattaya. Is this possible?

not possible!

[Payboy]

"Salaries for the 6 full time and one part time employees run at 32,500 a month. " I've never been to Pattaya. Is this possible?

not possible!

Definitely not possible, even with migrant labour.

[samsiam]

"Salaries for the 6 full time and one part time employees run at 32,500 a month. " I've never been to Pattaya. Is this possible?

not possible!

Definitely not possible, even with migrant labour.

[phl]

100% occupancy???? Do they know how to calculate occupancy properly?

6 full time staff, wages should be minimum 49200 baht

And selling price for hotel with 100% occupancy in the lowest season is certainly not 3.5 million.

4 million key money for 15 years is reasonable, actually rather cheap.( though unclear if it's for 2 years or 15)

120k rent is also ok.

I am guessing but it sounds like Mr Mac hotel and their occupancy is definately not 100%

Edited July 13, 2012 by phl

[Payboy]

Wouldn't be surprised if the business seller is the landlord, or spouse of the landlord.

[gregb]

"Salaries for the 6 full time and one part time employees run at 32,500 a month. " I've never been to Pattaya. Is this possible?

What they meant to say is that in years past when they were paying 5000 baht per month (presumably for a 6 day work week), it was 32,500 baht per month. They probably even have documentation to support this.

Unfortunately, now with the minimum wage at 300 baht per day, they mean to say that it will cost you 50,000 baht per month or more in the future. That is likely one of the many reasons it is for sale.

[phl]

"Salaries for the 6 full time and one part time employees run at 32,500 a month. " I've never been to Pattaya. Is this possible?

What they meant to say is that in years past when they were paying 5000 baht per month (presumably for a 6 day work week), it was 32,500 baht per month. They probably even have documentation to support this.

Unfortunately, now with the minimum wage at 300 baht per day, they mean to say that it will cost you 50,000 baht per month or more in the future. That is likely one of the many reasons it is for sale.

Minimum wage for pattaya is NOT 300 baht.

Monthly minimum for pattaya is just under 8200 baht/month