Investing 5 million baht in CM

[Somnambulist]

I'm not going to consider land since I can't legally own it so the obvious choice is condos.

Would you buy two or three or even four cheap ones and rent them out?

Or would you buy just one?

Would you rent the traditional way, advertising locally on FB, Thai Visa, etc, and have 6 and 12 month contracts or would you use AirBnb, of which I know very little so far.

The money is already in Thailand but not available yet. Or are there better opportunities in neighboring countries?

[Singerman]

Before buying condos to rent out you should ensure you can do so legally.

A Thai company etc may be required.

[Somnambulist]

Nah, not for renting out condos I don't think. I've never heard that before. Foreigners can own condos.

[Singerman]

Nah, not for renting out condos I don't think. I've never heard that before. Foreigners can own condos.

Suggest you ask a lawyer but not one of the "Bar Stool" variety

[Somnambulist]

OK, then let's say a guy has a Thai wife he trusts, so he intends to put the condos in her name and rent them out.

[sappersrest]

Tax on income etc????

See a good lawyer first .

[watcharacters]

Always a good idea to not risk more than you are fully OK to lose.

[Oscar2]

1. you are about 4 years+ too late.

2, Air BnB is in a tough position in Thailand - see news. also many AirBnB falangs were busted by immigration for renting w/o work permit, not paying taxes, etc...

3. Thailand's economy expected to be in very bad shape in the coming year. not a good time.

4. consider other options; securities...

[sappersrest]

Always a good idea to not risk more than you are fully OK to lose.

Probably one of the best posts on TV to date.

[Somnambulist]

1. you are about 4 years+ too late.

2, Air BnB is in a tough position in Thailand - see news. also many AirBnB falangs were busted by immigration for renting w/o work permit, not paying taxes, etc...

3. Thailand's economy expected to be in very bad shape in the coming year. not a good time.

4. consider other options; securities.

Hm, thank you. Not what I wanted to hear, but I need to hear it. Securities? You mean play the Thai stock market? I used to play Canadian stocks in a big way but got out of that game.

[Singerman]

1. you are about 4 years+ too late.

2, Air BnB is in a tough position in Thailand - see news. also many AirBnB falangs were busted by immigration for renting w/o work permit, not paying taxes, etc...

3. Thailand's economy expected to be in very bad shape in the coming year. not a good time.

4. consider other options; securities.

Hm, thank you. Not what I wanted to hear, but I need to hear it. Securities? You mean play the Thai stock market? I used to play Canadian stocks in a big way but got out of that game.

"Nah, not for renting out condos I don't think. I've never heard that before. Foreigners can own condos. "

Pleased you are now having second thoughts !

[theguyfromanotherforum]

I had the same idea with airBnb, but found out that many buildings do not allow short term rentals. Management does get involved and you may get sued. Since getting sued in Thailand is a dangerous thing, I gave up on the idea.

[puukao]

help the poor!!!! help the temples!!!! help bring in clean water!!!!

farang want more money, but not help fellow humans!!!!

i don't care about wealth or materialist possessions..

my trust gives 100,000,000 baht to the poor yearly

and i live on 1000 baht a year

[LannaGuy]

1. you are about 4 years+ too late.

2, Air BnB is in a tough position in Thailand - see news. also many AirBnB falangs were busted by immigration for renting w/o work permit, not paying taxes, etc...

3. Thailand's economy expected to be in very bad shape in the coming year. not a good time.

4. consider other options; securities...

well... I partly agree with Oscar here

1. yes you are about 5 years too late - forget it

2. maybe BUT AirBnB is short term and you really need long term

3. well... it's true this is bad timing

4. no consider 'hunker down' and WAIT

I'm little lucky in that i bought condos 10 year ago but even i am selling most/ In about 5 years things will be better I hope but Thailand had changed under the Junta and we have to just tighten our belts. Good luck.

[uptheos]

Nah, not for renting out condos I don't think. I've never heard that before. Foreigners can own condos.

Are you sleep walking?

[cyberfarang]

If you have 5 million baht burning a hole in your pocket, then why not blow the lot on fast women, booze, bars and holidays? And if you believe in charity, take me with you.

[dhream]

Jump into Canadian weed Pot mj manufacturers shares right now. You'll clean up big in a year or two. Or just take the dividends forever, particularly after big tobacco buy them out.

[dhream]

help the poor!!!! help the temples!!!! help bring in clean water!!!!

farang want more money, but not help fellow humans!!!!

i don't care about wealth or materialist possessions..

my trust gives 100,000,000 baht to the poor yearly

and i live on 1000 baht a year

Oh go on, spend a few hundred baht more, and get some English grammar lessons, we'll love you long time for it.

[Loaded]

Subway, 7/11 or McDonalds franchise

[Naam]

Nah, not for renting out condos I don't think. I've never heard that before. Foreigners can own condos.

Suggest you ask a lawyer but not one of the "Bar Stool" variety

and i suggest you inform yourself and stop making incorrect claims which could indeed be classified "bar stool" variety.

http://www.siam-legal.com/realestate/thailand-property-faq.php

[LawrenceChee]

For that amount , put some in fixed deposits in Cambodia

Still gives great interests , you can follow the thread I contributed on , as I just cashed out on one of my policies there and secured

Moderate risk and better return with no lawsuits and all

[elektrified]

Subway, 7/11 or McDonalds franchise

I agree although I would think McDonalds would be too expensive and 7 Eleven seems overdone to me (but I'm sure I'm wrong about that). There is plenty of opportunity with Subway and it's much healthier food. I see many Thais in there bringing their kids to eat after school and they do a very good trade. The investor would need at least one, if not a double shop-house so he would get his condos/shop-houses, whatever....and have good income as well. One can never rely on residential rental income around here.

[worgeordie]

Not the sort of post I would make on an open forum,

letting others know what cash you have is not a good

idea,anywhere.

regards Worgeordie

[baywatch82]

You an buy condo at Nimmanhemin area, for about 500-600k per room, and renovate it.

Only this way you can have yearly profit about 10% and more if you use Airbnb.

Please contact me I will give you some advice about location and also I am available to show you around couple of my investments.

[LivinLOS]

Nah, not for renting out condos I don't think. I've never heard that before. Foreigners can own condos.

Suggest you ask a lawyer but not one of the "Bar Stool" variety

and i suggest you inform yourself and stop making incorrect claims which could indeed be classified "bar stool" variety.

http://www.siam-legal.com/realestate/thailand-property-faq.php

But how many farangs take the income tax into account..

Also go try paying income tax without a work permit.. It does get complex..

[Trujillo]

Not the sort of post I would make on an open forum,

letting others know what cash you have is not a good

idea,anywhere.

regards Worgeordie

But doesn't everyone have five million?

[Naam]

Nah, not for renting out condos I don't think. I've never heard that before. Foreigners can own condos.

Suggest you ask a lawyer but not one of the "Bar Stool" variety

and i suggest you inform yourself and stop making incorrect claims which could indeed be classified "bar stool" variety.

http://www.siam-legal.com/realestate/thailand-property-faq.php

But how many farangs take the income tax into account..

Also go try paying income tax without a work permit.. It does get complex..

no need for a work permit to pay Thai income tax, neither on interest derived from capital investment nor on rental income. income tax on rental income is rather low because not only depreciation of property but also depreciation of hard and soft furnishing is deductable.

[WinnieTheKhwai]

Tedious.. most replies...

Anyway.

• One big fancy condo is much harder to rent out that a couple cheapies. There's just a bigger market for the cost-conscious. Also you spread out the risk.
• That said, when renting out on AirBnB or TripAdVisor Holiday Rentals there is a definite advantage if you can accommodate a family of 4.. So they don't have to get two hotel rooms, which helps your value proposition. So a one-BR condo and a place to sleep for two kids in the living room would work. (Possibly a sofa that converts into a bed, or a bunk bed somewhere.)
• You can own condominiums just fine, but the activity of renting them out may be considered work. If you're married then that's just great: the Mrs. can do all the legwork, getting guests checked in, arranging cleaning, repairs/maintenance, etc.
• Income can be hers which makes it easy to pay income tax on it. Won't be all that much. Set her up with Paypal and a Bangkok Bank account.
• When renting to foreigners you do need to submit TM30 information on foreign guests to immigration, just like hotels, hostels, etc.
• Also be sure to comply with other regulations that apply, etc. fire safety, offering a safe / safety deposit box, etc.
• Short-term rental to tourists is more profitable, but also a lot more work. The closer you get to how a 5 star hotel deals wth guest's questions and requests, the better you'll do.
• LOCATION!!!!!!!!!!!!!! Especially when renting to tourists. Forget about condos all the way up the Canal Road or in B#tf#$k Siritara, Hang Dong. Guests want to walk places, restaurants and sights nearby, easy public transport.

Edited December 29, 2015 by WinnieTheKhwai

[MaeJoMTB]

Pal of mine purchased 2x 2 room condos in CM a couple of years back.

Neither have ever been rented out.

It doesn't appear to be a good investment at the moment.

Prices are high, rents are low, customers are few.

Who are you going to rent them to?

Many of the long-stay western foreigners have left, been driven out by VISA changes, or in the process of leaving.

Only backpackers, and short term tourists are remain, and they don't rent condos.

And if you change your mind, very hard to sell.

Edited December 29, 2015 by MaeJoMTB

[mascarabertha]

Pal of mine purchased 2x 2 room condos in CM a couple of years back.

Neither have ever been rented out.

It doesn't appear to be a good investment at the moment.

Prices are high, rents are low, customers are few.

Who are you going to rent them to?

Many of the long-stay western foreigners have left, been driven out by VISA changes, or in the process of leaving.

Only backpackers, and short term tourists are remain, and they don't rent condos.

you are so full of misinformation