fang37 Posted July 16, 2015 Share Posted July 16, 2015 How would you spend/invest it on the basis that you are NOT in receipt of a pension? Link to comment Share on other sites More sharing options...
Pheat123 Posted July 16, 2015 Share Posted July 16, 2015 I would spend some on hookers,gambling ,drinking and waste the rest Link to comment Share on other sites More sharing options...
NeverSure Posted July 16, 2015 Share Posted July 16, 2015 (edited) That's not very much money. Better hang on if that's all there is. Edit: I mean if there's no retirement income and that's all there is for life including potential medical etc. Edited July 16, 2015 by NeverSure Link to comment Share on other sites More sharing options...
JockPieandBeans Posted July 16, 2015 Share Posted July 16, 2015 I would spend some on hookers,gambling ,drinking and waste the rest Are you Callum ? The son of the late, great George Best Link to comment Share on other sites More sharing options...
krisb Posted July 16, 2015 Share Posted July 16, 2015 I'd buy 15 condos around bkk and rent them for 5k a month each. Link to comment Share on other sites More sharing options...
krisb Posted July 16, 2015 Share Posted July 16, 2015 You could in fact buy more than 20 condos easily. If you wanted smaller 27square condos that needed a little work but great for rent, then you could buy well over 30 condos and rent for say 3 or 4k a month each. Link to comment Share on other sites More sharing options...
Seastallion Posted July 16, 2015 Share Posted July 16, 2015 I'd buy 2 hong of near-inner city land and build a few classrooms, so my wife can do what she was born to do, and that is teach. She's such a professional and dedicated teacher, and loves her pet subject (English grammar), she deserves to have a job and income commensurate to her knowledge and qualifications....what she does not get being employed by a "vocational institute". She should have her own school, and I would put it all into that. Link to comment Share on other sites More sharing options...
coulson Posted July 16, 2015 Share Posted July 16, 2015 I almost did this last year, had a career mid-life crisis and thought sh@g it why not, leave my investment property at home and start a new slate with 10Million baht. I had some sketchy ideas for hitting BKK, the priority was to build up a passive income of 60k and live in my condo.This involved buying a number of studio units to rent out (5 Million for 5 decent units with a rental of 5k each per month - I even knew which units). I was also developing a business idea among some friends, the details I will not bore you with, which was going to squeeze 2 Million out of my kitty and target was to get it off the ground within a year. 1 million to live off for the first year and 2 million to fall back on. I always thought if it went t1ts up I could just sell the units and considered losing my @ss on the business, worst I could come out of it with 7 million. Then I thought, why would I invest 10 million to waste my time sweating and struggling just to lose 30%, why not just go there with the same 3 mil and enjoy the time off.......... Sense prevailed as nothing beats a secure paycheck, Thailand is still there for holidays and my moneys there for making safe investments elsewhere. Link to comment Share on other sites More sharing options...
fang37 Posted July 16, 2015 Author Share Posted July 16, 2015 That concept interests me but a few potential obstacles - a) the $$$ is already in LOS so that I could not buy in my name. OK, put in a Thai name & lose control I do not live in BK so locating condos is a potential problem. Need to acquire the services of a property agent. WHO? c) tenants & management - similar to Likely tenants? Locals or expats? Link to comment Share on other sites More sharing options...
coulson Posted July 16, 2015 Share Posted July 16, 2015 If you're gonna buy property you should go and see for yourself & make sure everything is in your name at least. Target rentals for small studio's would be the local workforce. You would also have to prove the money came from outside LoS, I'm assuming it did at one point, shouldn't be hard to get the paperwork from your receiving bank. If you're not in Thailand, why would you consider losing your money there? Link to comment Share on other sites More sharing options...
slapout Posted July 16, 2015 Share Posted July 16, 2015 live fast, living fast does not appeal to layabouts, love hard , that does sometimes leave a ache /impression if applied correctly, die young and leave a beautiful memory. The general agreement is only the good die young so the time alloted for beautiful memory may be too long for fond memories of many of the old grouches.. bad experiences, associations seem to be remembered by others more than most of the good .memories. Link to comment Share on other sites More sharing options...
kkerry Posted July 16, 2015 Share Posted July 16, 2015 Paid for one house, a block of land and a car, but everything else I keep outside of Thailand. I know some people who have sold up everything and reinvested in Thailand but personally I couldn't do that, just would not give me any feeling of security. Link to comment Share on other sites More sharing options...
billd766 Posted July 16, 2015 Share Posted July 16, 2015 I would spend some on hookers,gambling ,drinking and waste the rest I am glad to see that you are a good clean living person and would not waste money on cigarettes. It would also give you more money for your first 3 choices. Link to comment Share on other sites More sharing options...
tso310 Posted July 16, 2015 Share Posted July 16, 2015 I would spend some on hookers,gambling ,drinking and waste the rest Spend the rest on a bar in Pattaya. Link to comment Share on other sites More sharing options...
simon43 Posted July 16, 2015 Share Posted July 16, 2015 Well, I did just that about 11 years ago ==> built the first 'transit' hotel at Phuket airport. The business idea was sound, with the 'fly in the ointment' that my business involved my Thai wife. On our amicable divorce, we sold the hotel, shared the money, and my 10m baht became 5m baht... (The new hotel owner continues to this day to run a very profitable business). I built a new hotel for my ex, (using her 5m baht); that business survives (but doesn't thrive) to this day. Some time later, I remarried (you fool) and built another small hotel using my 5m baht. The business idea was sound, with the 'fly in the ointment' that my business involved my Thai wife. On our amicable divorce, we sold the hotel, shared the money, and my 5m baht became 2.5m baht... (that business survives (but doesn't thrive) to this day.). Some time later, I realised (rather late in the day), that marriage to Thai ladies was not the best route for me. So I built another Bed & Breakfast establishment using my 2.5m baht. That business thrives, with the highest customer ratings on Booking.com etc, and provides me with a happy lifestyle, healthy income and profit, AND no bat-crazy Thai wives involved One plus also is that each time that I built a small hotel, I learnt how to save money on building costs, without cutting corners. This is why I could build a viable guesthouse for only 2.5m baht. (The construction threads and photos are on another forum) Link to comment Share on other sites More sharing options...
fang37 Posted July 16, 2015 Author Share Posted July 16, 2015 I would buy some Mortein quickly. Link to comment Share on other sites More sharing options...
pluto_manibo Posted July 16, 2015 Share Posted July 16, 2015 Learn how to sail! Buy a boat! Travel the world! Link to comment Share on other sites More sharing options...
Pheat123 Posted July 16, 2015 Share Posted July 16, 2015 I'd buy 2 hong of near-inner city land and build a few classrooms, so my wife can do what she was born to do, and that is teach. She's such a professional and dedicated teacher, and loves her pet subject (English grammar), she deserves to have a job and income commensurate to her knowledge and qualifications....what she does not get being employed by a "vocational institute". She should have her own school, and I would put it all into that.So is this a round about way of saying you did not meet your other half in a bar? Link to comment Share on other sites More sharing options...
MaeJoMTB Posted July 16, 2015 Share Posted July 16, 2015 (edited) That's not very much money. Better hang on if that's all there is. Edit: I mean if there's no retirement income and that's all there is for life including potential medical etc. 15 to 20 years good living in Thailand (assuming no interest and just living costs). My family of five live quite well on 500k/year, if I were single, way less (and that includes 130k/year for a home loan repayment) How long are you planning on living? For a 60 year old (like me) that would be good enough. @Simon43 Very amusing post! Edited July 16, 2015 by MaeJoMTB Link to comment Share on other sites More sharing options...
fang37 Posted July 16, 2015 Author Share Posted July 16, 2015 exactly - this is my pension fund Link to comment Share on other sites More sharing options...
4737 Carlin Posted July 16, 2015 Share Posted July 16, 2015 I'd move to Spain. Link to comment Share on other sites More sharing options...
12DrinkMore Posted July 16, 2015 Share Posted July 16, 2015 The OP did not say how old he is. Link to comment Share on other sites More sharing options...
h90 Posted July 16, 2015 Share Posted July 16, 2015 I would spend some on hookers,gambling ,drinking and waste the rest that sounds like a reasonable plan! Link to comment Share on other sites More sharing options...
bazza40 Posted July 16, 2015 Share Posted July 16, 2015 I'd be combing the Thai stock market for shares with good yield and rising earnings. While yields on condo units are quite good, a combination of pond life tenants, poor condo management and inability to sell out in timely fashion could wipe out any benefits. You can sell out of shares at the click of a mouse. Link to comment Share on other sites More sharing options...
theguyfromanotherforum Posted July 16, 2015 Share Posted July 16, 2015 The shoebox condos that are selling for 500,000 baht are rented for less than 5000. I see condos like that on ramkhamheang being rented for 2000-3000 baht. Outside Bangkok it would be less. Link to comment Share on other sites More sharing options...
Si Thea01 Posted July 16, 2015 Share Posted July 16, 2015 (edited) I live here and have substantially more than that but it remains invested in shares on the Australian stock market. I have, with my wife, who still works, bought property here and I retain a reasonable amount in the bank but there is no way would I bring everything here. If something goes wrong, I can fall back on what I have and return to my country at anytime I choose, however, at this time, there is no intention to do so. But who knows what will happen in the future. Never burn your bridges. Edited July 16, 2015 by Si Thea01 Link to comment Share on other sites More sharing options...
Hornyskunk Posted July 16, 2015 Share Posted July 16, 2015 With 10m baht, I could finally marry my girlfriend, who I love more than anything. I've been wondering for a long time how I'll be able to afford her dowry. She is from a really good family. Link to comment Share on other sites More sharing options...
technologybytes Posted July 16, 2015 Share Posted July 16, 2015 Actually there are a lot of foreigners who come to Thailand in exactly that position, but without an income you are doomed. What you need to do is generate a steady income, you could buy a few 1m baht condos and live off the rental income, but you need to keep a reserve for unexpected expenses and emergencies so you really could not buy more than about 7 condos. I assume that if you are careful you can but 1m baht condos that will rent for about 6-7k per month and be easy enough to maintain occupancy which would give you only 42-54k per month even if they are fully let and cost you nothing to maintain (and that won't happen). You may be able to live on 40k per month, but you won't live well. If you don't have any other income and you are not of retirement age perhaps you should work on getting more capitol behind you before you fully commit. Link to comment Share on other sites More sharing options...
khunPer Posted July 16, 2015 Share Posted July 16, 2015 Well, I did just that about 11 years ago ==> built the first 'transit' hotel at Phuket airport. The business idea was sound, with the 'fly in the ointment' that my business involved my Thai wife. On our amicable divorce, we sold the hotel, shared the money, and my 10m baht became 5m baht... (The new hotel owner continues to this day to run a very profitable business). I built a new hotel for my ex, (using her 5m baht); that business survives (but doesn't thrive) to this day. Some time later, I remarried (you fool) and built another small hotel using my 5m baht. The business idea was sound, with the 'fly in the ointment' that my business involved my Thai wife. On our amicable divorce, we sold the hotel, shared the money, and my 5m baht became 2.5m baht... (that business survives (but doesn't thrive) to this day.). Some time later, I realised (rather late in the day), that marriage to Thai ladies was not the best route for me. So I built another Bed & Breakfast establishment using my 2.5m baht. That business thrives, with the highest customer ratings on Booking.com etc, and provides me with a happy lifestyle, healthy income and profit, AND no bat-crazy Thai wives involved One plus also is that each time that I built a small hotel, I learnt how to save money on building costs, without cutting corners. This is why I could build a viable guesthouse for only 2.5m baht. (The construction threads and photos are on another forum) Thanks for sharing your story, and telling it an amusing way. Reminds me of the saying: »the only way to make a small fortune in Thailand is to begin with a big…« Link to comment Share on other sites More sharing options...
MaeJoMTB Posted July 16, 2015 Share Posted July 16, 2015 Actually there are a lot of foreigners who come to Thailand in exactly that position, but without an income you are doomed. What you need to do is generate a steady income, you could buy a few 1m baht condos and live off the rental income, but you need to keep a reserve for unexpected expenses and emergencies so you really could not buy more than about 7 condos. I assume that if you are careful you can but 1m baht condos that will rent for about 6-7k per month and be easy enough to maintain occupancy which would give you only 42-54k per month even if they are fully let and cost you nothing to maintain (and that won't happen). You may be able to live on 40k per month, but you won't live well. If you don't have any other income and you are not of retirement age perhaps you should work on getting more capitol behind you before you fully commit. It's a lot easier to lose money in Thailand than it is to make it. For a start, 1Mbht condos generally rent for 3,000-4,000bht/month, tax on that income is 15%. So your estimated income has just halved. Against the law to rent them out yourself, so the management company will reduce that more. Link to comment Share on other sites More sharing options...
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