Need Help On Buying A Resort!

[kurt88]

I have a business proposition from a long time Thai friend who owns a resort with his thai partner. His Thai partner wants to sell out & on the land title they have both their names on it.(no company has been formed). What option do I have? My friend wants me to own half the land & open a company to together to run the Resort. How possible is it & what are my options if things go wrong! Any Ideas?

[markah]

stay well away from that one mate, if you have money to buy a resort then you would be better off doing something else with it that is safer.

[eljeque]

Find an alternate business to become involved in.

Do not do business with friends

This friend has all of the information and all of the records on the business and there would be no way that you could accurately go through them and see what profits are being made.

Your friend has stornger legal status here than you do so any discrepancies would go his way.

You are looking at a ticking time bomb and some day it will explode and you wuill have nothing.

If you have to get involved in a busines here, start it yourself.

[mouse]

I strongly suggest that you speak to Sunbelt before going any further. They will keep you out of trouble.

[kurt88]

Really & truly I'm not intersted in the business. It's just an extra bonus. What i'm interested is to purchase half the land to build my house on it. If I can legally get the land I would like to rent it back to him for a few years because he still has a few huts built on it. Like that i don't have to get involved in the running of the busines. All I want is to build a house to use for a month or so every year. He is happy to mangage his resort on half the land. His problem is that his partner wants to sell forcing him to sell out too because the land title is on his name & partners with a resort built on it. He still loves the business & would'nt want to leave. Downsizing is his resort would be his best option & I would be happy to have my house next door.

[Tornado]

I have a business proposition from a long time Thai friend who owns a resort with his thai partner. His Thai partner wants to sell out & on the land title they have both their names on it.(no company has been formed). What option do I have? My friend wants me to own half the land & open a company to together to run the Resort. How possible is it & what are my options if things go wrong! Any Ideas?

If his partner wants to sell and you want to own half, I dont understand the problem. Buy him out, set up a company together or lease from him.

I wouldnt do it myself, as many Thai/Farang partnerships go horribly wrong due to stupidity, greed, laziness, miscommunication and cultural differences.

good luck.

[dvk1951]

Listen to the squeeky rodent in post 4.

[mouse]

Listen to the squeeky rodent in post 4.

My wife and kids say that I am a lovable mouse.......so there! Rodent! I never.....