Advice - Investing into this project in Bangkok?

[Seb Bu]

Hello guys,

I would like to have your advice on two apartments as investment!

1.)

http://www.easyhomes.tv/property/ma-maison-ladprao-2422

80 square meter 2-bedroom apartment in the area of Lad Prao, the building is already 17 years old and besides the location is what concerns me a bit.

What do you think? How much do you think it would be worth?

2.)

http://www.sansiri.com/condominium/thebase_rama9/en/

Project which is supposed to be finished in one year from now. What I like about the apartment is the location (¨close¨ to the airport, the sky train, the center and Ramkhamhaeng university). I could also try to specifically target German exchange students as renters, like that I should´t have problems to get the place rented out. Furthermore I´ve heard Thai people don´t like used apartments and besides the general condition of the building of the first option this is what worries me.

Thank you so much!

Seb

[rgs2001uk]

The first one, no comment.

The second, any exchange student that does their homework (no pun intended) will know just as the Thais know, you can rent condos all day long for less than 5k baht per month in that area.

Suggest the next time you visit take a ride on the boat get off at Ram Uni stop and tour the sois full off cheap accomodation.

like that I should´t have problems to get the place rented out.

What sort of rent to you think you could get so as not to have any problems renting the place out?

Ram is awash with condos, best of luck.

[trogers]

Don't assume you can rent the condo unit to this and that group of persons at such and such a price.

Study the actual market conditions of the other units in a building, and the other buildings along the same road or around the same vicinity.

[Seb Bu]

The first one, no comment.

The second, any exchange student that does their homework (no pun intended) will know just as the Thais know, you can rent condos all day long for less than 5k baht per month in that area.

Suggest the next time you visit take a ride on the boat get off at Ram Uni stop and tour the sois full off cheap accomodation.

like that I should´t have problems to get the place rented out.

What sort of rent to you think you could get so as not to have any problems renting the place out?

Ram is awash with condos, best of luck.

Thanks for your comment! You´re basically right, tho from first hand I know that at least half of the exchange students take condos for around 10.000 Baht with German standards...and in this price category there´s not too many places around Ramkhamhaeng.

[davejones]

If the location of the first one concerns you, why are you even considering it? Just forget it.

Why are you investing - for rental return or capital growth?

And why have you chosen Thailand as a place to invest? Do you live here? If you don't live here, who will manage the rentals for you?

Doesn't seem like a great rental return to me.

[iluvthailand]

The first and only rule of real estate investment in Thailand is DON'T. As in DO NOT. If you don't understand, then what part of "Don't just walk, but run...run...run away" from Thailand real estate investment don't you understand?

Actually, the term "Thailand Real Estate Investment" is really an oxymoron.

By the way, I Love Thailand!

Edited November 8, 2013 by iluvthailand

[salapaday]

I've looked at a few Sansiri projects and on the outside it all looks very good and proper, when you start to look at things close up you can see cheap materials and shoddiness.

I'd beware of investing in any sort of Thai property to be honest.

but you know, young guys with a bit of cash burning in their pockets and dreams of being a property investor.

Leave it, and invest in something else, somewhere else.

[davejones]

The first and only rule of real estate investment in Thailand is DON'T. As in DO NOT. If you don't understand, then what part of "Don't just walk, but run...run...run away" from Thailand real estate investment don't you understand?

Actually, the term "Thailand Real Estate Investment" is really an oxymoron.

By the way, I Love Thailand!

Complete rubbish. Many people make a very good living indeed from property investment in Thailand. Just because you can't, don't assume that others can't. But it's not a case of buying any condo and hoping for the best, as many foreigners seem to do. I know plenty of people (mostly Thais) that have made a shedload from property investment. Buy right and you're well on your way. Location, location, location. Plus don't overpay to begin with. Most foreigners pick a bad location and pay way too much.

I think real property investors can make money. Foreigners with a bit of cash who don't have any property investment experience tend to be the ones that lose money. Same in the UK. The professionals buy at the bottom of the market. The amateurs wait until the top of the market before piling in and losing their money.

Edited November 8, 2013 by davejones

[iluvthailand]

Again, I can't reiterate and ennumerate and pontificate (let's throw in fornicate too for good measure) this enough:

Before you consider buying ANY real estate in Thailand, first go see an psychologist and if you're rolling in the money, consult the services of a psychiatrist as well, and last but not least, see a priest because if you sign on the dotted line, all is lost.

There are a million and one ways to Sunday better ways to invest your money than in real estate in Thailand.

Life is short. Don't play the fool.

[davejones]

Again, I can't reiterate and ennumerate and pontificate (let's throw in fornicate too for good measure) this enough:

Before you consider buying ANY real estate in Thailand, first go see an psychologist and if you're rolling in the money, consult the services of a psychiatrist as well, and last but not least, see a priest because if you sign on the dotted line, all is lost.

There are a million and one ways to Sunday better ways to invest your money than in real estate in Thailand.

Life is short. Don't play the fool.

So let's hear your reason why it's not a good investment. All you say id don't invest, but I don't think you have any idea why you're saying it, apart from you've heard some people who lost money saying it. There are even people on this forum who have made money investing in property in Thailand. So how can you say it's not possible when people are already doing it successfully.

You remind me of that saying... Will all the people who say it can't be done step aside and let the people doing it get on with their work.

Some can do and some can't. The ones that can't always say it can't be done. Maybe it makes them feel better in some way.

What you say says more about you than about property investment in Thailand. But good luck with your investments, whatever they may be.

[Khun Jean]

I find the most important part of 'investing' in Thailand is to take your time.

Take lots of time to get a feel for the market.

Certain areas can be very good, one street away it is often a different story.

I concentrate my searches for condos between Phrakanong and On Nut and into the sois for about 1-2Km if there is good transportation.

Concentrating on an area will make it possible to distinguish between a good and a bad deal.

If you are fresh from the plane everything seems cheap, but in reality prices you know from websites and lots of agents targeting foreigners are skyhigh. Investing in those will not make you money. There are always exceptions to the rule, but recognizing those exceptions is what it takes to make money.

It will come with time and study.

Personally i know the history of about a hundred buildings, and very detailed history of about 12. I have it all in spreadsheets. Every sale and rental i know of i have registered.

Took a lot of time but it is worth it.

Sometimes a condo is for sale for the third or fourth time and i have the prices that were asked. Getting the prices that are paid are a lot more difficult. I adjust asking prices down with about 10%.

Investing in Thai property is a lot of work or a lot of luck.

[Seb Bu]

Thank you all!

[rgs2001uk]

I find the most important part of 'investing' in Thailand is to take your time.

Take lots of time to get a feel for the market.

Certain areas can be very good, one street away it is often a different story.

I concentrate my searches for condos between Phrakanong and On Nut and into the sois for about 1-2Km if there is good transportation.

Concentrating on an area will make it possible to distinguish between a good and a bad deal.

If you are fresh from the plane everything seems cheap, but in reality prices you know from websites and lots of agents targeting foreigners are skyhigh. Investing in those will not make you money. There are always exceptions to the rule, but recognizing those exceptions is what it takes to make money.

It will come with time and study.

Personally i know the history of about a hundred buildings, and very detailed history of about 12. I have it all in spreadsheets. Every sale and rental i know of i have registered.

Took a lot of time but it is worth it.

Sometimes a condo is for sale for the third or fourth time and i have the prices that were asked. Getting the prices that are paid are a lot more difficult. I adjust asking prices down with about 10%.

Investing in Thai property is a lot of work or a lot of luck.

I find the most important part of 'investing' in Thailand is to take your time.

Personally, I would say the most important is the ability to speak and read Thai, after that spend at least 6 months reading forums such as Prakard.

After mastering the above, concentrate on a particular segment of the market.

Take lots of time to get a feel for the market

Correct, thats why being able to read Thai helps, read those sign in condo foyers or at the bus stop.

If you are fresh from the plane everything seems cheap, but in reality prices you know from websites and lots of agents targeting foreigners are skyhigh.

My advice, if its written in English, forget it.

Getting the prices that are paid are a lot more difficult.

Its almost impossible, for the simple reason, face.

Thais dont want to admit they have made a bad deal, so the seller will inflate the price, the buyer will deflate the price paid.

My best advice, have a pot of cash ready, take your time and sooner or later the right deal will come along, usually from distresed sellers trying to keep face and sell their place without advertising that its for sale.

Investing in Thai property is a lot of work or a lot of luck.

Thats just for Thais, for farang even more so.

I have mentioned on here before, I drink beer with a couple of lawyers and a realtor, they are always discussing the property market, its a matter of sorting out the wheat from the chaff.

The above is just for Bkk, once you get upcountry, you are into cowboy and indian territory.