Teach me the secrets

[theguyfromanotherforum]

Not the topic of this thread.... I know.... But what a heck.

Op exited the market anticipating a crash, yet thinks the real estate market is somehow a great opportunity.... In Pattaya out of all places.... In a country where he doesn't have any legal right to rent a property.

2.5mil condo, means 20,000 baht a month rent to achieve 8% return. Most units at this price get rented for 15,000. Most units in Thailand sit empty for years. You are competing against local money laundering outfits who buy entire floors in a condo building and can afford to wait..... Forever.

Your return is most likely to be -8%.....but that's still OK if you don't trust paper money and want to "invest " in hard asset.

[12DrinkMore]

There was also a recent thread bout the legality of renting out condos. It might be against the condo rules.

Just takes one complaint and the cr8p flies.

[JHolmesJr]

Id say buy a shophouse at soi buakhao that's going for 60% less.

Rent out rooms to lowlife bingo players at cheap rates….focus on keeping the rooms full at all times.

Maybe a nice bar with hot MILFs serving a good drop.

A bingo parlour out back to ramp up the excitement.

Wait a minute….you say that's been done?

Oh, ok.

[mgjackson69]

I think you need to get to know the type of people who your going to be renting to and there requirements, seems very close to a BTS or MRT station to start with if in BKK would be a starting point don't you think?

The guy who said renting to Thai/uni students wasn't wrong either, ex TGF an accountant came up with that one too.

Well I'm based in Pattaya, so I would like to keep my investments close to home. Plenty of rentals available over here, actually more than there are renters in my opinion, so a certain type of condo will attract more candidates than another.

And that is actually what this thread is about, but so far I haven't received much concrete advice than what I can read in any investment paper or website.

So your advice will be welcomed.

The Thai university rooms is indeed an opportunity I'm aware of, but I guess that needs involvement from a Thai or at least someone who speaks fluent Thai and knows the areas, to ever find those opportunities.

Why do you think advice in Thai Visa Forums would be of any more use than what you can read in "any investment paper or website"?

Do you imagine it is a bunch of financial wizards hanging out here?

[cabanlit]

You "removed money from the stock market and other investments". How easy was that? Despite the loss, very easy, I suspect.

Now, think about 'removing money' from an investment in a Thai condo. Easy? Hahaha - I doubt it!

Find a rental house in a country where there's an active property market instead. You'll still get the income but will be able to sell your investment quicker.,

[theguyfromanotherforum]

You "removed money from the stock market and other investments". How easy was that? Despite the loss, very easy, I suspect.

Now, think about 'removing money' from an investment in a Thai condo. Easy? Hahaha - I doubt it!

Find a rental house in a country where there's an active property market instead. You'll still get the income but will be able to sell your investment quicker.,

Yes. Liquidity is the key.

There is no such thing in Thailand.

[Mr Money Bags]

So your advice will be welcomed.

Your hostile attitude toward those offering their honest opinions for free seems to say something else.

Perhaps you should try using less hostile language and thereby attracting more cooperative and helpful replies.

But, that's just me......

You're Welcome!!

[ExpatOilWorker]

Well best idea now is to look at buying a resale from someone that has previously bought and now come under hard times, a few good buys about.

How to find and contact distressed owners?

I had my eyes on a condo where the building management had disconnected water due to lag of common fees. The juristic person just had a name and a dead end phone number for the owner.

Some distressed owners are so distressed that they are totally gone.

[trogers]

Well best idea now is to look at buying a resale from someone that has previously bought and now come under hard times, a few good buys about.

How to find and contact distressed owners?

I had my eyes on a condo where the building management had disconnected water due to lag of common fees. The juristic person just had a name and a dead end phone number for the owner.

Some distressed owners are so distressed that they are totally gone.

Establish some contacts in the Juristic offices of buildings of interest and tell them to call you should the Legal Execution Dept posts notices of impending auction on the doors of units that are repossessed.

[bermannor]

You get what You pay for but You might not get what you want! ?

The best investment is your GF's recommendation ?.

But only when she is Thai-Chinese.

[denby45]

Well best idea now is to look at buying a resale from someone that has previously bought and now come under hard times, a few good buys about.

He probably came under hard times because he can't find anyone to rent the place from him.

Den

[bermannor]

And, when somebody teaches you a secret, it's no longer or was ever a secret!

Best secret tellers are those who sell you a condo ?

[aronp1]

Invest in BTS and properties near future BTS stations.

[bermannor]

Aronp1, Cruncher asked for "secrets", not common knowledge! ?

[TheCruncher]

I think you need to get to know the type of people who your going to be renting to and there requirements, seems very close to a BTS or MRT station to start with if in BKK would be a starting point don't you think?

The guy who said renting to Thai/uni students wasn't wrong either, ex TGF an accountant came up with that one too.

Well I'm based in Pattaya, so I would like to keep my investments close to home. Plenty of rentals available over here, actually more than there are renters in my opinion, so a certain type of condo will attract more candidates than another.

And that is actually what this thread is about, but so far I haven't received much concrete advice than what I can read in any investment paper or website.

So your advice will be welcomed.

The Thai university rooms is indeed an opportunity I'm aware of, but I guess that needs involvement from a Thai or at least someone who speaks fluent Thai and knows the areas, to ever find those opportunities.

Why do you think advice in Thai Visa Forums would be of any more use than what you can read in "any investment paper or website"?

Do you imagine it is a bunch of financial wizards hanging out here?

No but I imagine that many of the contributors here may have experience in the market segment and particular location that I'm interested in, and that is rental condo's in Pattaya _ Thailand

[bkk6060]

The condo-hype is reaching a boiling point. (sellers glad to get out and newcomers glad to get in).

Why not follow Wifes/GF advice: Build 2 story house on "family-Land". Land is for free.

Who could refuse such a tempting offer, instead of shopping for a 32 square meter condo?

----------------------------------------------------------------------------------------------------------------------

PS: Forgot to mention. A mansion built on "Family Land", without land papers is basically worthless these days. By now, Thais know it. Farangs are still caught up in some sort "learning process", guided by the advice of Wife/GF.

Easy to buy, hard sell.

Cheers

.

Sorry if that happened to you.

[TheCruncher]

You "removed money from the stock market and other investments". How easy was that? Despite the loss, very easy, I suspect.

Now, think about 'removing money' from an investment in a Thai condo. Easy? Hahaha - I doubt it!

Find a rental house in a country where there's an active property market instead. You'll still get the income but will be able to sell your investment quicker.,

I never said that I removed money with a loss, but the current return and risk didn't warrant to keep it there further.

I'm also not looking at investing in real estate for resale, I'm thinking on the long term, but look for advice how I have the best chance to get a good return, from people who have experience herein.

[bermannor]

Hmm, Cruncher, "secrets" are normal not goods, supplied on forums.

Your pub might be a better place. ?

[TheCruncher]

So your advice will be welcomed.

Your hostile attitude toward those offering their honest opinions for free seems to say something else.

Perhaps you should try using less hostile language and thereby attracting more cooperative and helpful replies.

But, that's just me......

You're Welcome!!

I wonder what your username was 2 weeks ago. Let me think, who would create such a arrogant username and avatar?

Edited January 15, 2016 by TheCruncher

[bazza40]

Thai property is one of the last places I would put my hard-earned savings. So many things to go awry here.

Assuming you have successfully liquidated all your investments, why not just sit on the US dollar? Cash is king.

[TheCruncher]

Thai property is one of the last places I would put my hard-earned savings. So many things to go awry here.

Assuming you have successfully liquidated all your investments, why not just sit on the US dollar? Cash is king.

I agree Thai real estate may be tricky, but since I live here, Thailand is the easiest to keep an eye on my investments.

Previously rented out my apartment in my home country, and when they know you're 10.000 km away, it is unbelievable how they abuse it.

Regarding my previous investments, I have liquidated the part that I wasn't losing money on, and it is still in Euros and Dollars, but my crystal ball slipped out of my hands during the transactions, so it's guessing if holding on to the currency will be an advantage or disadvantage, so at least I would like to spread my apples over a few baskets.

[bazza40]

Thai property is one of the last places I would put my hard-earned savings. So many things to go awry here.

Assuming you have successfully liquidated all your investments, why not just sit on the US dollar? Cash is king.

I agree Thai real estate may be tricky, but since I live here, Thailand is the easiest to keep an eye on my investments.

Previously rented out my apartment in my home country, and when they know you're 10.000 km away, it is unbelievable how they abuse it.

Regarding my previous investments, I have liquidated the part that I wasn't losing money on, and it is still in Euros and Dollars, but my crystal ball slipped out of my hands during the transactions, so it's guessing if holding on to the currency will be an advantage or disadvantage, so at least I would like to spread my apples over a few baskets.

Platinum and palladium are at fairly historic lows if you want a bit of spread. Not an investment, but a useful hedge. I'm talking the physical metal, have a feeling some of the paper precious metal companies will go missing if the ordure hits the fan.

[TheCruncher]

Thai property is one of the last places I would put my hard-earned savings. So many things to go awry here.

Assuming you have successfully liquidated all your investments, why not just sit on the US dollar? Cash is king.

I agree Thai real estate may be tricky, but since I live here, Thailand is the easiest to keep an eye on my investments.

Previously rented out my apartment in my home country, and when they know you're 10.000 km away, it is unbelievable how they abuse it.

Regarding my previous investments, I have liquidated the part that I wasn't losing money on, and it is still in Euros and Dollars, but my crystal ball slipped out of my hands during the transactions, so it's guessing if holding on to the currency will be an advantage or disadvantage, so at least I would like to spread my apples over a few baskets.

Platinum and palladium are at fairly historic lows if you want a bit of spread. Not an investment, but a useful hedge. I'm talking the physical metal, have a feeling some of the paper precious metal companies will go missing if the ordure hits the fan.

Where in Thailand would I purchase physical platinum or palladium?

[fekman]

I'd count to ten before doing it.

If you must, don't buy into a project until finished. Developers use buyer payments to build and it's a recipe for disaster. (Never finish)

Thai buildings are notorious for lack of upkeep.

Long term renters are all cheap charlies, and will rent across the street if its 500 baht less a month. And it will be, as the market is saturated.

Easy to buy. Impossible to re-sell.

Want 8%? Put it into a CD in a Costa Rica bank.

[bermannor]

The problem is, you can't buy property, just lease it.

Otherwise I would say, lease or buy into a well kept housing estate, preferably were already expats or Japanese on assignment live (close to good school).

let's say Chonburi or Rayong were the international companies are.

[bermannor]

No secret but common sense if you want by all means property.

You can't buy but you can lease or other legal construction property in a well kept housing estate, preferably with a lot of expats or Japanese on assignment at the big international companies in Rayong or Chonburi, preferably close to a good international school.

[bazza40]

Thai property is one of the last places I would put my hard-earned savings. So many things to go awry here.

Assuming you have successfully liquidated all your investments, why not just sit on the US dollar? Cash is king.

I agree Thai real estate may be tricky, but since I live here, Thailand is the easiest to keep an eye on my investments.

Previously rented out my apartment in my home country, and when they know you're 10.000 km away, it is unbelievable how they abuse it.

Regarding my previous investments, I have liquidated the part that I wasn't losing money on, and it is still in Euros and Dollars, but my crystal ball slipped out of my hands during the transactions, so it's guessing if holding on to the currency will be an advantage or disadvantage, so at least I would like to spread my apples over a few baskets.

Platinum and palladium are at fairly historic lows if you want a bit of spread. Not an investment, but a useful hedge. I'm talking the physical metal, have a feeling some of the paper precious metal companies will go missing if the ordure hits the fan.

Where in Thailand would I purchase physical platinum or palladium?

Absolutely no idea - you can purchase them in Australia, which is where I come from. I prefer platinum/palladium over gold due to supply factors. There is only one months' forward supply of platinum. Gold is mined everywhere, platinum almost exclusively in Russia and South Africa/Zimbabwe.

You can purchase gold at any shopping mall in Thailand, if that helps.

Don't know the situation now; however, at one stage it was illegal for Americans to own gold. This from a nation where the right to own guns is passionately defended. Go figure.

Edited January 15, 2016 by bazza40

[jacksam]

Don't know why I'm even replying to op. I have been in real estate for most of my life. Sadly I have several properties in AU. Stuck with them because I was a builder/developer. Thailand has zero upside to doing what your suggesting. What do you mean by poor returns from your stocks?? Treat it same as real estate . It's about capital gain not returns. Anyway go ahead. Have you even looked at rental/capital investment returns.

The stupidity of farang here amazes me.

[bermannor]

Every physical investment, e.g. gold, is a burden (storage) with no ROI but simple speculation.
I think we talk here of a couple of million Baht, at least I hope so otherwise this thread is a waste of time.
Add the risk of the currency (Baht) against top currencies if you earned the money outside of Thailand! Thailands economy is based on Tourism, so as cheaper the Baht as better for Thailand and no interest in a strong Thai Baht.
That's basic lessons without having studied economy.

[jacksam]

Now I have read most of the posts and in particular the op replies. I hope he goes head long into purchasing "a few condos" . In particular ones off the plan. For someone who states in op has no previous experience in real estate investments the know it all attitude is a pre cursor for lots of tears in few years. Almost think this op is a wind up as it's so naive.