Located behind Makro on the Hang Dong road, they are offering 13% per year over 5 years.

Anybody bought into this project ??

That's 2.5% per year, better off putting your money into a fixed rate deposit at 2.8%.

13% per year ???

how do they get the money to pay you 13% per year

Are we talking about a condo?

13% per year ???

how do they get the money to pay you 13% per year

Are we talking about a condo?

Quite easy. Build a condo with a certain value. Next inflate the sales price with 65% and find some dumbers who fall for the scam.

Every Bath you can raise in rental earning during those 5 years are an extra.

Or the Condo company goes bust after it has sold all the units,

and just comes back with another company name,in a year or

two.What price are they asking for these condos ,that might

provide the answer.

regards Worgeordie

13% per year ???

how do they get the money to pay you 13% per year

Are we talking about a condo?

Yes it is a condo. To be precise, there are 5 seven storey buildings.

I saw a similar quote in Pattaya for 12% return , now when i go past this office its empty,

I saw a similar quote in Pattaya for 12% return , now when i go past this office its empty,

lol - it's really not that new a concept is it...

Not even worth digging deeper into this.

Most (correct) answers were given to the OP already.

BTW; take a car or motorbike and drive around with open eyes. You will see many of those "returners on investment" all over Chiang Mai. Unfortunately for the investors (believers) now in ruins or even never started construction. Phrom behind Le Meridien Hotel and Golf Park on Doi Sakhet road to name a few.

Green Valley condo could not sell the "normal" way so they started using this doubtful tactics as well.

Oh... sometimes big international real estate names involved.

Watch out or BETTER; not even consider it. Call it legal scams.

A off topic post and replies to it has been removed.

Green Valley condo could not sell the "normal" way so they started using this doubtful tactics as well.

^^^^perhaps so????

but at a realistic rate of 7% p.a.(last i saw approx 6weeks ago)

and the condo is approx 75%completed,and from my own enquirys they have fulfill their duties (paying up) on other condo projects that they have completed over the yrs,working along the same principle

in saying the above, and to the opening post,

it gets the royal kyberpass, from me

a nice morning to all

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I saw a similar quote in Pattaya for 12% return , now when i go past this office its empty,

Actually in the past 10 perhaps 15 years, there have been many 'offers' like this including condos and full houses, in many locations in Thailand.

And you can find many stories of:

- Lack of completion of the project, abandoned, will never be completed - buyers no choice but to walk away and lose their deposits / payments etc.

- % return 'guaranteed' reduced quickly and in some cases reduced several times over a period of years.

- Owners well aware that their units are occupied by renters, but very limited to zero returns ever passed over to the owners.

- Attempts to push the development companies totally ignored.

- Unaware owners not realizing that the ownership documentation is wrong / not completed / doesn't show the name of the person who actually paid for the unit.

Beware!

Green Valley condo could not sell the "normal" way so they started using this doubtful tactics as well.

^^^^perhaps so????

but at a realistic rate of 7% p.a.(last i saw approx 6weeks ago)

and the condo is approx 75%completed,and from my own enquirys they have fulfill their duties (paying up) on other condo projects that they have completed over the yrs,working along the same principle

in saying the above, and to the opening post,

it gets the royal kyberpass, from me

a nice morning to all

Yes there has been reports of many scams.

But I wonder how many of the people who lost on them bothered to check up on the companies performance in other projects.

I would not touch one with a ten foot pole if they did not have a good record of performance. I think part of the reason they work so well is they are selling to people who have not been here long enough to be aware of the many failures to produce the promised product.

Is Chiang Mai ready for ostrich farming? The returns promised when this surfaced about 20 years ago were staggering.....

Is Chiang Mai ready for ostrich farming? The returns promised when this surfaced about 20 years ago were staggering.....

Along with horse breeding and Coypu farming they were promising fantastic

returns to,at the time,latest venture was Agar farming, there sure are a lot

of stupid people in the World,as these scammers would not be able to find

new marks.

regards worgeordie

Best you can realistically get is ~7%, that is in Bangkok for an older Condo (10...15y/o). Newer ones are either too expensive or of lousy quality, and/or bad management.

13% per year ???

how do they get the money to pay you 13% per year

Are we talking about a condo?

... there are 5 seven storey buildings.

Oh my...

Best you can realistically get is ~7%, that is in Bangkok for an older Condo (10...15y/o). Newer ones are either too expensive or of lousy quality, and/or bad management.

Are you sure that's not -7% ?

13% per year ???

how do they get the money to pay you 13% per year

Are we talking about a condo?

Quite easy. Build a condo with a certain value. Next inflate the sales price with 65% and find some dumbers who fall for the scam.

Every Bath you can raise in rental earning during those 5 years are an extra.

did you mean Baht ?