Is Cassia (Phuket) a good investment for me?

[bkkphuketconnection]

Hi All,

I'm in my early 30's, single and work in BKK 4 days a week. I plan to spend more time in Phuket, about 10 days a month, in the future I consider moving there.

I came across an opportunity to invest in Cassia, a leasehold condominium in Phuket, under Laguna administration. While 'leasehold' at first may bring a red flag up, I believe this could be a situation where it would fit in well:

* I plan to spend roughly 120 days per year in Phuket, I can use up to 90 which is fine.

* On the remaining days, they rent out the property for the owner (while keeping a high % of the revenue! fair enough as admin fee)

* I'm single and while can change, decided not to have kids, so a lease dont worry me much

* The investment would be 20% of my total portfolio, so while its significant, its not ALL

* Other than my business in Thailand, I'm not exposed in the local currency, all my investments are in different currencies

* I dont want to deal with bad tenants, repairing, etc

* I dont mind paying an admin fee for a 'local' that can admin the property better than I do (plus my time is valuable)

What are the biggest negatives you can see? I'm well diversified in my other investments (property in my home country, reits in asia, and US/EU stock funds)

Would this be ideal to have a holiday home in Phuket, make an icome on the other days Im not there, have someone look after it for you (while paying a fee, ok).

Thank you