2.5 - 4 Million Condo...where Would You Buy

[trogers]

Waste of Money, rent one when you need it.

That's what my mate said but then he blew all his money and went home skint. Thought he was a millionaire with no sense of "what if" at all. I bought one and have always got somewhere to get my head down if need be, if things don't go to plan. I can have a brush down and rethink, I would rather do that here then back in nowheresville on someones couch at nearly 50 years old.

Not really and investment but a safety cushion and you need that here that's for sure. If you run out of money here and became homeless no-one would give a toss, one needs to think of number 1 at all times to survive here.

Renting wasn't his problem. Lack of money management skills more likely the culprit. Maybe too much booze also. That has a way of eroding judgement.

Not so much about money management but more about risk management. The older you are the less risk you should take. Buying gold is not an investment. It is just a hedge against currency fluctuation and inflation. Gold does not generate an income. You can only speculate on the fluctuations of its price.

One investment anchor with low risk is to buy a condo first as a home, and if circumstances turn sour, as a source of income. Looking at how even governments of developed countries can default on their bonds, it would seem investment in real estate in countries with sound economic prospects now carries lesser risks.

[DonW]

Not so much about money management but more about risk management. The older you are the less risk you should take. Buying gold is not an investment. It is just a hedge against currency fluctuation and inflation.

If you had invested in gold 4 years ago and cashed out last year, would you be saying he same thing?

[trogers]

Not so much about money management but more about risk management. The older you are the less risk you should take. Buying gold is not an investment. It is just a hedge against currency fluctuation and inflation.

If you had invested in gold 4 years ago and cashed out last year, would you be saying he same thing?

Present success in speculating in a bubble does not make it not a speculation. Let's compare your statement to one who bought shares of Lehman Brothers in 2003 and to another who bought the same shares in 2007. The former if had sold before the bust will be praising his success, while the latter may had been suicidal.

[aussiebebe]

I don't know if the OP is still even reading this thread but I have minimal experience of condos in Thailand; my sum experience is that I bought one and then went through the hassle of selling it. It's not much, I know, but when I read the OP's question a few thoughts sprang to mind. 1) look at how much tax to have to pay when you sell.....it sucks, the more the unit appreciates, the more you pay, it's hard to come out on top unless it doubles in value in a few years. 2) look at where the BTS line is being extended, buy an existing unit close by; when you know how torturous it is to sell a condo, you'll know how desperate owners are to sell. 3) buy somewhere which has, at minimum, double glazing. 4) rent a unit for a while first to discover all the bad aspects of the condo.

[adgareau]

I have a condo for sale at Shukumvit soi 102 by Central Bangna for 2.7 M 2 bed 2 bath if you are interested I will send you pictures it's 3 years old and very well maintained.

[DonW]

I don't know if the OP is still even reading this thread but I have minimal experience of condos in Thailand; my sum experience is that I bought one and then went through the hassle of selling it. It's not much, I know, but when I read the OP's question a few thoughts sprang to mind. 1) look at how much tax to have to pay when you sell.....it sucks, the more the unit appreciates, the more you pay, it's hard to come out on top unless it doubles in value in a few years. 2) look at where the BTS line is being extended, buy an existing unit close by; when you know how torturous it is to sell a condo, you'll know how desperate owners are to sell. 3) buy somewhere which has, at minimum, double glazing. 4) rent a unit for a while first to discover all the bad aspects of the condo.

Good post and thank you.

[DonW]

I have a condo for sale at Shukumvit soi 102 by Central Bangna for 2.7 M 2 bed 2 bath if you are interested I will send you pictures it's 3 years old and very well maintained.

Yes, please do!

[isawasnake]

All I have to say is people with actual business smarts probably wont be in a forum. They will be out making, and spending their money.

[DonW]

Ah so cause you are a neverwas, then you assume all others are too? Well, that does - in a fuc_ked up way - make sense.

[wpcoe]

All I have to say is people with actual business smarts probably wont be in a forum. They will be out making, and spending their money.

Think about what you just wrote. By your definition, since you are here in the forum, you are probably not a person with actual business smarts. If you probably are a person with no business smarts, why would we listen to your advice?

[DonW]

laislica You, Sir, are a Gentleman - thank you

[rotary]

Nonta buri ar Muang Thong Thani in the tall 30 story buildings on Bond st. you can buy 2 BR 1 bath about 55 sq mts for 1 milliom if u shop. Monthy fee about B800. Good 3 star type set up. save the left over money in the bank.

[PattayaPhom]

Don't buy, rent.

Considering the OP has clearly stated it must have potential to rent would mean he is purchasing for rental, so what a totally useless barfly comment this is...

[DonW]

Nonta buri ar Muang Thong Thani in the tall 30 story buildings on Bond st. you can buy 2 BR 1 bath about 55 sq mts for 1 milliom if u shop. Monthy fee about B800. Good 3 star type set up. save the left over money in the bank.

I said I want to spend 2.5 - 4 Million mate which has rental potential.

[rgs2001uk]

Nonta buri ar Muang Thong Thani in the tall 30 story buildings on Bond st. you can buy 2 BR 1 bath about 55 sq mts for 1 milliom if u shop. Monthy fee about B800. Good 3 star type set up. save the left over money in the bank.

I said I want to spend 2.5 - 4 Million mate which has rental potential.

Why not buy 10 400k condos and rent them out at 3,800 per month, a better return on trying to rent out a 4 million condo.

[IamNotaNumber]

Why not buy 10 400k condos and rent them out at 3,800 per month, a better return on trying to rent out a 4 million condo.

Sounds like a good idea.

But where can I buy a condo for 400K in Pattaya?

I wouldn't care to live further than a bahtbus ride from any rental units I owned.

[DonW]

Nonta buri ar Muang Thong Thani in the tall 30 story buildings on Bond st. you can buy 2 BR 1 bath about 55 sq mts for 1 milliom if u shop. Monthy fee about B800. Good 3 star type set up. save the left over money in the bank.

I said I want to spend 2.5 - 4 Million mate which has rental potential.

Why not buy 10 400k condos and rent them out at 3,800 per month, a better return on trying to rent out a 4 million condo.

Cause I dont want to as the title suggests. Being a slum lord isnt really my thing.

[DonW]

Why not buy 10 400k condos and rent them out at 3,800 per month, a better return on trying to rent out a 4 million condo.

Sounds like a good idea.

But where can I buy a condo for 400K in Pattaya?

I wouldn't care to live further than a bahtbus ride from any rental units I owned.

What you want is a mucky row of hongtaews. Rent money or rub.

[Bangkokhatter]

not sure if anyone answered your mortgage question, but Bangkok bank will lend your partner the money with you acting as guarantor, you can personally borrow from their Singapore branch, but they advised me this was not a good idea as you are exposed to currency fluctuations and the interest rate is quite high.

[DonW]

Cheers

[cheeryble]

1) look at how much tax to have to pay when you sell.....it sucks, the more the unit appreciates, the more you pay, it's hard to come out on top unless it doubles in value in a few years.

Aussiebebe...

You are saying

"the more it appreciates the more you pay"

and if you have to sell at double to see some light after the sale you seem to be saying the tax is a very large proportion of the selling price.

I thought the tax came to no more than single figure percent points.

.....so could you please be specific about this? Thankyou.