Advice On How To Raise Money In Thailand

[Joseph7]

I have a nice condo in Pattaya that earns 50,000 Bt a month in rent during high season (agent tells me she adds on a bit on top which is ok by me) so it's a good earner. I also have a house outside Pattaya in company name which I live in. Combined they may be worth about eight MB. Recently I decided that I would like to give my longtime partner (as in wife) and still my best friend who lives back in the "auld" country two MB while she is still fit enough to enjoy it rather than waiting till I die, we are both in our mid sixties. So I decided to put the two properties on the market and whichever sold first I would keep and live in the other one. Unfortunately the property market seems to be slow now and neither have sold. So I started to think about different ways of trying to raise the money for her. Maybe borrowing from a bank on the strength of the properties but decided that I wouldn't want the ball and chain around my neck of high repayments for the next five years or so....even if I were to get a loan. Then I thought about leasing out the condo for 3,4 or five years to an agent or tenant for two MB up front for subletting. Mentioned it to my present agent but I don't think she got the "jist" of what I was talking about.

The lady in question will be holidaying here for the month of August and I would appreciate any ideas somebody out there might have.....Thanking you .

[theblether]

Everything will sell at a price, so rather than get involved in convoluted financial arrangements just decide to yourself how low are you prepared to go price-wise?

[kblaze]

^^ good advice from the blether

Is the agent trying to dissuade you from selling at a lower price because it hurts her potential commission? I only ask because the part about her skimming some of your rent during the high season (I know you said it was ok with you) raised my eyebrows.

[jbrain]

^^ good advice from the blether

Is the agent trying to dissuade you from selling at a lower price because it hurts her potential commission? I only ask because the part about her skimming some of your rent during the high season (I know you said it was ok with you) raised my eyebrows.

Who said she's skimming of some of the rent. In my world it's called commission for finding the customers.

Since the OP also says IN HIGH SEASON it earns 50.000 Baht a month but he want to lease it out to the agent a a rate of 2 million for 4 years. Do we have 12 months a year high season these days ?

No wonder the agent didn't get the jist.

Edited April 30, 2013 by jbrain

[Joseph7]

Thank you Blether for your reply and thank you to others too. You are right of course, if the price is low enough almost anything will sell. However, I would be happy to retrieve what either property stands me, without a profit and I bought them reasonably. I do notice Ads seeking condos at half their normal price, somehow it sticks in my craw when I see this, I have always believed in a fair price for a fair deal leaving both parties happy, but I suppose good luck to them if they can get it. You may well say that if I can afford the luxury of having a principle like that.... good luck to me too. I just don't fancy selling anything 1 and a 1/2 MB below it's market value. To me it's like somebody coming up to me in the Soi and asking me to put one and a half million Baht in their pocket.

I did mention leasing it for 3,4 or 5 years, depending on how much money was involved. If I got 2 MB up front for a 5 year lease, I reckon that's about 33,000 Bt. a month they're paying for the condo. High season is 50,000 a month but there is also the low season at a reduced rate. Why I mentioned the agent getting a little more than that is.....She told me that the customer is actually paying something more than the 50,000, didn't say how much and i didn't ask as I was quite happy with the "5 Moon" (as there was more than one agent involved in getting the tenant, a few of them seem to work together) so if I met him and it arose about how much rent he was paying I would be in the picture. I give her the normal 10% commission on the 50,000 Baht.

Thanks lads but lets not get too serious about this. My motto in life is "THERE ARE NO SHOPS IN HEAVEN" so it's not worth getting all warmed up about ....some people might call it a "Luxury Problem" considering the state of the world today.

Thanks again.

[Joseph7]

Time to drop the subject I think when the rude ones out there start getting involved. I often wonder when i see some of the comments on the TV forums (like the last one).... do they spend their lives standing in front of a mirror practicing different ways of being nasty before they put it into print, I use to hear it said that "It's nice to be nice". Obviously that never occurs to some people, they devote their lives to being angry, cranky and uncivil.... as a way of life. Good luck to you though and I'm sorry for whatever happened to make you this way.....another point to remember....You get back what you put out...so I guess things have not been all that pleasant for you. Thank you to those of you who genuinely wanted to help. Joe.

[Beetlejuice]

Time to drop the subject I think when the rude ones out there start getting involved. I often wonder when i see some of the comments on the TV forums (like the last one).... do they spend their lives standing in front of a mirror practicing different ways of being nasty before they put it into print, I use to hear it said that "It's nice to be nice". Obviously that never occurs to some people, they devote their lives to being angry, cranky and uncivil.... as a way of life. Good luck to you though and I'm sorry for whatever happened to make you this way.....another point to remember....You get back what you put out...so I guess things have not been all that pleasant for you. Thank you to those of you who genuinely wanted to help. Joe.

OK then, let us try and put your situation into perspective.

You are in your 60s and have moved permanently or intend to stay in Thailand long term.

Your wife of about your age is a native of your home country, not Thai and you and her have separated or just living apart but still on friendly terms. Am I correct in my assumptions so far?

You have a condo over here that is yielding in 50000 baht per month during the so-called high season, but I guess that would be gross income, before (if you actually do declare the income and pay tax on that) and other bills including maintenance fees have been paid. So I estimate that on a yearly average, taking the low seasons, periods when the property is vacant with no tenants, estate management fees and other expenditures into account, that the net profit is more nearer 25000 to 30000 baht per month , if you`re lucky. Am I close on this one?

You say that you have another home in a company name outside of Pattaya where you actually reside. Under Thai law this company should be trading, so in theory, whatever is your company occupation here, should be earning you a living, at least 40000 baht per month, I believe is the minimum requirement that a farang should be earning from the company, (if wrong, please someone correct me on this) if the said company is legal and above board and you are not using Thais to front the business.

If this is the case and everything is above board, then why not give the rent proceeds from your condo to your wife as a regular monthly income? Especially considering the now favourable bank exchange rates. There could never be a better time to send baht currencies over to the West. And then just bide your time until if or when the property values picks up and a higher market price becomes available?

I have no idea whether your wife and you receive any sort of pensions or whether you have bank savings earning interest every month?

You asked for advice and I am stating what I would do in your situation, if what you have said is an accurate account of your situation and your company is successful, you are not keeping some 20 something year old floozy in a lifestyle she has become accustomed to and you`re not up to your neck in debt or having liquid asset problems or desperate for the money locked in the real estate assets?

Edited April 30, 2013 by Beetlejuice

[xastunts]

Time to drop the subject I think when the rude ones out there start getting involved. I often wonder when i see some of the comments on the TV forums (like the last one).... do they spend their lives standing in front of a mirror practicing different ways of being nasty before they put it into print, I use to hear it said that "It's nice to be nice". Obviously that never occurs to some people, they devote their lives to being angry, cranky and uncivil.... as a way of life. Good luck to you though and I'm sorry for whatever happened to make you this way.....another point to remember....You get back what you put out...so I guess things have not been all that pleasant for you. Thank you to those of you who genuinely wanted to help. Joe.

Will you consider giving me some commission of i can find you a buyer? Perhaps that can work?

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

[Scully]

Everything will sell at a price, so rather than get involved in convoluted financial arrangements just decide to yourself how low are you prepared to go price-wise?

I sold a house in the UK in 2007 at the top of the bubble, dropped the price by 5 grand and sold within the month, neighbours thought I was mad. The house two doors down almost identical kept the same price and has now dropped the price since 2007 by 35 grand.

A house is only worth what people will pay for it, I just hope Thailand, Pattaya in particular isn't in a bubble?.

[mogandave]

Exactly. Market value is what things sell for, no what they are on the market for.

[taninthai]

Sell the house to the oldest ferang you can find on a 30 year lease,with a bit of luck the old ferang buyer will die well before the 30 year lease is complete walaa everybody's happy and you get your house back someday to sell again job done

[Beetlejuice]

It appears the OP has taken a schtum powder because he hasn`t received the types of answers he prefers to hear.

Perhaps my reply was too near the mark for his liking and the OP has shied off?

Wishing him good luck and success anyway.

[Suradit69]

It appears the OP has taken a schtum powder because he hasn`t received the types of answers he prefers to hear.

Perhaps my reply was too near the mark for his liking and the OP has shied off?

Wishing him good luck and success anyway.

Well, considering that he is allegedly a businessman in Pattaya and he has had an ongoing working relationship with a renting agent, it seems a bit odd that he would feel the best way to deal with this "problem" would be to seek solutions on ThaiVisa (and then get all shirty because he got a few facetious responses).

As someone else said, the market value for real estate is what you can get someone to pay for it. I suppose I could put my condo up for sale for 10 million baht, but I doubt I'll be faced with crowd control issues as potential buyers queue up.

Maybe he could find someone willing to put down 2 million baht for a long term lease, but his agent's lack of comprehension regarding this plan pretty well sums up the probability of this panning out. Usually people choose to rent rather than buy because they don't want to plunk down a large amount and want flexibility if their plans change.

It seems the easiest thing to do is give his wife the condo and let her collect the rent and/or try to sell it. Maybe someone else will come up with a better solution, but something tells me the OP was just phishing for awe inspired responses at his proposed generosity and his (self-described) luxurious dilemma.

Edited May 1, 2013 by Suradit69

[Joe Mamma]

Property is like gold, it can be over speculated and have a meltdown. My old man always said "get a lot when you're young", he meant real estate, but i thought he meant pussy!

[loong]

Thank you Blether for your reply and thank you to others too. You are right of course, if the price is low enough almost anything will sell. However, I would be happy to retrieve what either property stands me, without a profit and I bought them reasonably. I do notice Ads seeking condos at half their normal price, somehow it sticks in my craw when I see this, I have always believed in a fair price for a fair deal leaving both parties happy, but I suppose good luck to them if they can get it. You may well say that if I can afford the luxury of having a principle like that.... good luck to me too. I just don't fancy selling anything 1 and a 1/2 MB below it's market value. To me it's like somebody coming up to me in the Soi and asking me to put one and a half million Baht in their pocket.

I did mention leasing it for 3,4 or 5 years, depending on how much money was involved. If I got 2 MB up front for a 5 year lease, I reckon that's about 33,000 Bt. a month they're paying for the condo. High season is 50,000 a month but there is also the low season at a reduced rate. Why I mentioned the agent getting a little more than that is.....She told me that the customer is actually paying something more than the 50,000, didn't say how much and i didn't ask as I was quite happy with the "5 Moon" (as there was more than one agent involved in getting the tenant, a few of them seem to work together) so if I met him and it arose about how much rent he was paying I would be in the picture. I give her the normal 10% commission on the 50,000 Baht.

Thanks lads but lets not get too serious about this. My motto in life is "THERE ARE NO SHOPS IN HEAVEN" so it's not worth getting all warmed up about ....some people might call it a "Luxury Problem" considering the state of the world today.

Thanks again.

I just don't fancy selling anything 1 and a 1/2 MB below it's market

value. To me it's like somebody coming up to me in the Soi and asking me

to put one and a half million Baht in their pocket.

There is often a difference between the seller's market value and the buyer's.

Market price is the price that a seller is able to find a willing buyer, it is not necessarily what the seller expects.

If you are unable to find a willing buyer, then you are asking more than the market value. It's as simple as that.

I have sold 2 properties in the UK over the last 3 years, am I totally happy with the price that I received? No.

But I was a realist and sold at a price that a buyer was willing to pay.

[canuckamuck]

If you are going to give her 2 million, it will cost 2 million, but it seems like the OP wants to do it for less and in a hurry.

[dartvidar]

Thank you Blether for your reply and thank you to others too. You are right of course, if the price is low enough almost anything will sell. However, I would be happy to retrieve what either property stands me, without a profit and I bought them reasonably. I do notice Ads seeking condos at half their normal price, somehow it sticks in my craw when I see this, I have always believed in a fair price for a fair deal leaving both parties happy, but I suppose good luck to them if they can get it. You may well say that if I can afford the luxury of having a principle like that.... good luck to me too. I just don't fancy selling anything 1 and a 1/2 MB below it's market value. To me it's like somebody coming up to me in the Soi and asking me to put one and a half million Baht in their pocket.

I did mention leasing it for 3,4 or 5 years, depending on how much money was involved. If I got 2 MB up front for a 5 year lease, I reckon that's about 33,000 Bt. a month they're paying for the condo. High season is 50,000 a month but there is also the low season at a reduced rate. Why I mentioned the agent getting a little more than that is.....She told me that the customer is actually paying something more than the 50,000, didn't say how much and i didn't ask as I was quite happy with the "5 Moon" (as there was more than one agent involved in getting the tenant, a few of them seem to work together) so if I met him and it arose about how much rent he was paying I would be in the picture. I give her the normal 10% commission on the 50,000 Baht.

Thanks lads but lets not get too serious about this. My motto in life is "THERE ARE NO SHOPS IN HEAVEN" so it's not worth getting all warmed up about ....some people might call it a "Luxury Problem" considering the state of the world today.

Thanks again.

It's no normal value when you come to condos and real estates. It's the price the customers are willing to pay that decide the market value. The realestate in Thailand are in a big buble, and the air will soon go out. Nothing is growing into heaven. If the property market standing stil, thats means it's no demand and the prices is to high and people are not willing to pay. If it's no demand, then you have to lower the price down to a price the customers are wiling to pay. Just look at Spain, many condos that cost 300 000EUR before is now sold for 75 000EUR. The normal price is not 300 000EUR, it's 75 000EUR. Many people dont buy at the moment because the price is to high so its a big chanse to loose money. A fair price for both parts is probably little bit more than you pay for some years ago. If he pays your normal value, then you will winn and he lose. Today new condos and villages are poping up every where, thats means better selection for the buyer, less demand and lower price for old condos.

[dartvidar]

Thank you Blether for your reply and thank you to others too. You are right of course, if the price is low enough almost anything will sell. However, I would be happy to retrieve what either property stands me, without a profit and I bought them reasonably. I do notice Ads seeking condos at half their normal price, somehow it sticks in my craw when I see this, I have always believed in a fair price for a fair deal leaving both parties happy, but I suppose good luck to them if they can get it. You may well say that if I can afford the luxury of having a principle like that.... good luck to me too. I just don't fancy selling anything 1 and a 1/2 MB below it's market value. To me it's like somebody coming up to me in the Soi and asking me to put one and a half million Baht in their pocket.

I did mention leasing it for 3,4 or 5 years, depending on how much money was involved. If I got 2 MB up front for a 5 year lease, I reckon that's about 33,000 Bt. a month they're paying for the condo. High season is 50,000 a month but there is also the low season at a reduced rate. Why I mentioned the agent getting a little more than that is.....She told me that the customer is actually paying something more than the 50,000, didn't say how much and i didn't ask as I was quite happy with the "5 Moon" (as there was more than one agent involved in getting the tenant, a few of them seem to work together) so if I met him and it arose about how much rent he was paying I would be in the picture. I give her the normal 10% commission on the 50,000 Baht.

Thanks lads but lets not get too serious about this. My motto in life is "THERE ARE NO SHOPS IN HEAVEN" so it's not worth getting all warmed up about ....some people might call it a "Luxury Problem" considering the state of the world today.

Thanks again.

>I just don't fancy selling anything 1 and a 1/2 MB below it's market

value. To me it's like somebody coming up to me in the Soi and asking me

to put one and a half million Baht in their pocket.

There is often a difference between the seller's market value and the buyer's.

Market price is the price that a seller is able to find a willing buyer, it is not necessarily what the seller expects.

If you are unable to find a willing buyer, then you are asking more than the market value. It's as simple as that.

I have sold 2 properties in the UK over the last 3 years, am I totally happy with the price that I received? No.

But I was a realist and sold at a price that a buyer was willing to pay.

You are right loong.

If you looking at the prices for house and condo in Pattaya, it looks like every body is adding a large amount to the prices they actualy bought the condo for. Every body wants to be a millionair. I have seen some houses that have been for sale for 2 years. If the owner was smart and sold it for a lower bid for 2 years ago, he would probably get more than he will today or next year. Recently a house in Hua hin was sold for 15 million baht, it had been for sale for 2.5 years and the start price was 30 million baht.

[krisb]

Hand her a set of keys, and say here's your new condo.

Edited May 1, 2013 by krisb

[Eesat]

Am I missing something here?
Just get a secured loan from the bank on your property for 2 million baht and use the rental payments to pay it off,or do you want 2 million baht AND the rental payments?

[sbk]

Off topic troll posts removed

Moving to property forum

[Joseph7]

Thank you all once again for your inputs ......and laughs. When I say laughs, I'm referring of course to the childish comments ....."but something tells me the OP was just phishing for awe inspired responses at his proposed generosity and his (self-described) luxurious dilemma" ..... or maybe I have...... "taken a "Schtum Powder". (whatever that is but I can guess). If it was as the the first comment describes I should think this is the last place I would post it. I only mentioned certain things to put people in the picture. By the way, I also think for most people....if they woke up this morning..."then their problems are luxury problems....because it's a special day ...we are alive and not take oneself too seriously (waiting for the smart-alleky comments already to that one, but i did say for MOST people so please note.)

Getting back to the topic, I really do appreciate your inputs and feel I should fill you in more. I am not a businessman here, I came here 11 years ago and loved it so much I went home after my holiday, sold my house and bought 3 condos here, lived in one and rented the other two, I have no other income so am not a wealthy man with big money in the bank. My partner from home came and looked at Pattaya and said it was a town for "men only" and could never live here. As we had a platonic relationship for the previous 20 years anyway it was easy to agree that she live at home with her family and I live here...and we have remained the best of friends ever since. About a year ago I decided that as she had looked after me through a long illness while we were together I wanted to do something for here now and not wait any longer (she is still working but plans to retire soon). So I told her I had sold the condo and taken 500,000 Bt deposit, the balance to be paid by this July. I gave her 250,000 Bt out of my own money thinking I could easily sell the condo within a year and rent it for that high season at the same time. Everything went according to plan, i rented it for the high season but failed to sell it since the start of the low season. So then I tried to sell the house instead, but that didn't move either. It is not a matter of life and death that one or the other sells, it's just that I would like to keep my word on giving her her remaining 2MB when she comes in August, she thinks the condo is already sold.

As I said in my first post, I had considered a bank loan but to be honest, at my age 64 I fear getting into debt especially after the stories I hear over here and possibly I would be dead before it was repaid and the bank would then have the condo for 2MB.

The idea of leasing the house for 30 years was interesting as the poster said the lessee would probably be dead before that, does he not think my chances of being dead before that are just as lightly.

Really lads...thanks for all your help including you too Razzamataz, I did find your contribution interesting so stop jumping to wild conclusions about my not posting, I really didn't think there would be so much interest shown in it (I'm not used to it).

I just wanted to keep it simple and maybe throw it out there in case somebody had an idea I hadn't thought of, I'm always willing to take advice.

One last thing before i go, how I ended up with the house....I met a Thai lady about 4 years ago and thought "this is it" so I wanted to set up a "proper" home with she. I sold a condo, bought and renovated the house and everything was fine until she learned I was putting the house in a company name. About 4 weeks after doing so ....she was gone.

So if you cannot find 2MB for me perhaps one of you could find a good wife for this poor lonely man.....on second thoughts.......it would be easier to find the 2 MB.......THAT'S A JOKE BEFORE YOU START JUMPING DOWN MY NECK AGAIN...................Cheers.

[ThaiTony2]

Thank you all once again for your inputs ......and laughs. When I say laughs, I'm referring of course to the childish comments ....."but something tells me the OP was just phishing for awe inspired responses at his proposed generosity and his (self-described) luxurious dilemma" ..... or maybe I have...... "taken a "Schtum Powder". (whatever that is but I can guess). If it was as the the first comment describes I should think this is the last place I would post it. I only mentioned certain things to put people in the picture. By the way, I also think for most people....if they woke up this morning..."then their problems are luxury problems....because it's a special day ...we are alive and not take oneself too seriously (waiting for the smart-alleky comments already to that one, but i did say for MOST people so please note.)

Getting back to the topic, I really do appreciate your inputs and feel I should fill you in more. I am not a businessman here, I came here 11 years ago and loved it so much I went home after my holiday, sold my house and bought 3 condos here, lived in one and rented the other two, I have no other income so am not a wealthy man with big money in the bank. My partner from home came and looked at Pattaya and said it was a town for "men only" and could never live here. As we had a platonic relationship for the previous 20 years anyway it was easy to agree that she live at home with her family and I live here...and we have remained the best of friends ever since. About a year ago I decided that as she had looked after me through a long illness while we were together I wanted to do something for here now and not wait any longer (she is still working but plans to retire soon). So I told her I had sold the condo and taken 500,000 Bt deposit, the balance to be paid by this July. I gave her 250,000 Bt out of my own money thinking I could easily sell the condo within a year and rent it for that high season at the same time. Everything went according to plan, i rented it for the high season but failed to sell it since the start of the low season. So then I tried to sell the house instead, but that didn't move either. It is not a matter of life and death that one or the other sells, it's just that I would like to keep my word on giving her her remaining 2MB when she comes in August, she thinks the condo is already sold.

As I said in my first post, I had considered a bank loan but to be honest, at my age 64 I fear getting into debt especially after the stories I hear over here and possibly I would be dead before it was repaid and the bank would then have the condo for 2MB.

The idea of leasing the house for 30 years was interesting as the poster said the lessee would probably be dead before that, does he not think my chances of being dead before that are just as lightly.

Really lads...thanks for all your help including you too Razzamataz, I did find your contribution interesting so stop jumping to wild conclusions about my not posting, I really didn't think there would be so much interest shown in it (I'm not used to it).

I just wanted to keep it simple and maybe throw it out there in case somebody had an idea I hadn't thought of, I'm always willing to take advice.

One last thing before i go, how I ended up with the house....I met a Thai lady about 4 years ago and thought "this is it" so I wanted to set up a "proper" home with she. I sold a condo, bought and renovated the house and everything was fine until she learned I was putting the house in a company name. About 4 weeks after doing so ....she was gone.

So if you cannot find 2MB for me perhaps one of you could find a good wife for this poor lonely man.....on second thoughts.......it would be easier to find the 2 MB.......THAT'S A JOKE BEFORE YOU START JUMPING DOWN MY NECK AGAIN...................Cheers.

Thank you all once again for your inputs ......and laughs. When I say laughs, I'm referring of course to the childish comments ....."but something tells me the OP was just phishing for awe inspired responses at his proposed generosity and his (self-described) luxurious dilemma" ..... or maybe I have...... "taken a "Schtum Powder". (whatever that is but I can guess). If it was as the the first comment describes I should think this is the last place I would post it. I only mentioned certain things to put people in the picture. By the way, I also think for most people....if they woke up this morning..."then their problems are luxury problems....because it's a special day ...we are alive and not take oneself too seriously (waiting for the smart-alleky comments already to that one, but i did say for MOST people so please note.)

Getting back to the topic, I really do appreciate your inputs and feel I should fill you in more. I am not a businessman here, I came here 11 years ago and loved it so much I went home after my holiday, sold my house and bought 3 condos here, lived in one and rented the other two, I have no other income so am not a wealthy man with big money in the bank. My partner from home came and looked at Pattaya and said it was a town for "men only" and could never live here. As we had a platonic relationship for the previous 20 years anyway it was easy to agree that she live at home with her family and I live here...and we have remained the best of friends ever since. About a year ago I decided that as she had looked after me through a long illness while we were together I wanted to do something for here now and not wait any longer (she is still working but plans to retire soon). So I told her I had sold the condo and taken 500,000 Bt deposit, the balance to be paid by this July. I gave her 250,000 Bt out of my own money thinking I could easily sell the condo within a year and rent it for that high season at the same time. Everything went according to plan, i rented it for the high season but failed to sell it since the start of the low season. So then I tried to sell the house instead, but that didn't move either. It is not a matter of life and death that one or the other sells, it's just that I would like to keep my word on giving her her remaining 2MB when she comes in August, she thinks the condo is already sold.

As I said in my first post, I had considered a bank loan but to be honest, at my age 64 I fear getting into debt especially after the stories I hear over here and possibly I would be dead before it was repaid and the bank would then have the condo for 2MB.

The idea of leasing the house for 30 years was interesting as the poster said the lessee would probably be dead before that, does he not think my chances of being dead before that are just as lightly.

Really lads...thanks for all your help including you too Razzamataz, I did find your contribution interesting so stop jumping to wild conclusions about my not posting, I really didn't think there would be so much interest shown in it (I'm not used to it).

I just wanted to keep it simple and maybe throw it out there in case somebody had an idea I hadn't thought of, I'm always willing to take advice.

One last thing before i go, how I ended up with the house....I met a Thai lady about 4 years ago and thought "this is it" so I wanted to set up a "proper" home with she. I sold a condo, bought and renovated the house and everything was fine until she learned I was putting the house in a company name. About 4 weeks after doing so ....she was gone.

So if you cannot find 2MB for me perhaps one of you could find a good wife for this poor lonely man.....on second thoughts.......it would be easier to find the 2 MB.......THAT'S A JOKE BEFORE YOU START JUMPING DOWN MY NECK AGAIN...................Cheers.

Everything with you and your story seems perfectly normal and understandable. I cannot understand why so many jump so fast to make another story to their liking. Good luck to you Joseph7. Everything has a way of working out and I have to believe it will for you.

[Eesat]

"I met a Thai lady about 4 years ago and thought "this is it" so I wanted to set up a "proper" home with she. I sold a condo, bought and renovated the house and everything was fine until she learned I was putting the house in a company name. About 4 weeks after doing so ....she was gone."

Sounds like you had a lucky escape there,people have lost their lives for less!

[Eesat]

"As I said in my first post, I had considered a bank loan but to be honest, at my age 64 I fear getting into debt especially after the stories I hear over here and possibly I would be dead before it was repaid and the bank would then have the condo for 2MB."

Seriously my friend,if you're dead what difference does it make?It seems to me you are just making excuses and not entirely sincere about giving your lady friend the money,otherwise you'd take the advice given here?

Edited May 4, 2013 by Eesat

[utalkin2me]

I would keep trying to sell the place. I don't think you mentioned, have you had offers? No activity?

I have always seen this situation as if you want cash quick, you will have to take a loss. If you want to do a proper job, it will simply take time. I personally would give a year to sell a place for "what it is worth". You will have a good idea what is it truly worth at that point via the offers, if you have not sold already that is. Others don't agree with that, I know, but that is what I think. There is also the possibility that you grossly overpaid. Sometimes I think it is best to just forget what you paid for a place, I swear. Also, maybe you are not advertising the places well?

Edited May 5, 2013 by utalkin2me

[Joseph7]

Thanking you Thai Tony2,

It's like a breath of fresh air to hear a normal supportive voice....sad that the world has come to this, Isn't it? If people learned how to support rather than put down at every opportunity what a much more pleasant life it would be for all of us. Why it comes natural to some people to bad mouth and foul mouth others they that have never met... really is beyond me....I think for sure they say more about themselves than the person they feel the need to be rude to. Do you talk like that to people you meet in the swimming pool or over a cup of coffee...or is it only when you are sitting behind the anonymity of a computer that uneases this side of your personality. Something tells me if you adopt this attitude with people you don't even know it's time to call yourself into the office and have a serious chat with yourself.

Eesat...you'r attempt at trying to be clever and witty failed miserably...it's simple economics. If I were to get a loan of 2MB from a bank....just to pay that back over 5 years BEFORE the interest is even calculated would be more than 33,000 a month.....I don't know how I could guarantee repaying that while most of my only income from the condo comes only during high season. My father always taught us to "Never get ourselves into something that we cannot get out of" or "Never start something you cannot finish" That was very clever also Eesat when you asked "Why would I be worried about paying back the bank 2MB if I am dead" . As the condo is worth just under 5 MB................Ahh...........you'r so clever ...try and work it out for yourself.

Thanks again Tony...............Maybe we could drop this subject now because I see MYSELF starting to make nasty comments...and that was not the purpose of my initial post and it is going against everything I have come to believe is right. GB.

[Joseph7]

Just a closing thought,

Some of you seem to have difficulty understanding that a person may wish to give a dear friend 2MB....so let me fill you in. After loosing everything by my mid 30's due to my illness, I managed to get another mortgage and bought a small house in my capitol city, my then partner (present friend) paid half of the repayments with me for two and half years. It rose substantially in value so I sold it...paid off the remainder of the mortgage gave back to she what she put in and bought a house in the country outright. I lived there for about 10 years and eventually sold it and came to Thailand in my early 50's. I have never forgotten her input and feel I have a debt of honor to her and what I have today somehow is attributed in part to her. So it's no big deal.....but very sad that some people think it is. Maybe the principle of "Honor" has left these people along with their manners.....GB. ...........PS. I was leaving the house to my Thai partner in my will (no use for it where I was going anyway) so in that way I have no guilt after doing my best to take care of those who took care of me.