Learning Real Estate

[jmhogan]

Does anyone know if there is an English course that will teach you the in's and out's of a Real Estate transaction in Thailand and the different documents and steps to a transaction?

[NanLaew]

Not that I know of but this may work for starters.

[blackcab]

Not that I know of. It's mostly the school of hard knocks.

[scorecard]

55 minutes ago, blackcab said:

Not that I know of. It's mostly the school of hard knocks.

... and how to twist the truth.

[Doc50]

There is a rather quick course I was told years ago, it went somthing like.... bend over and kiss your ............ goodbye.

[StevieAus]

Personally I think you would be very vulnerable attempting to make any land or other realestate purchase without using a reputable lawyer

My wife and I have used a well known female lawyer in Chiang Mai for many years for several transactions and for what is in real terms is a relatively small fee

I do not think it is worth taking the risk particularly if you do not speak or read Thai

[phantomfiddler]

Not necessary,  just find some farang who has done numerous (say 20+) property transactions in Thailand, buy them a beer, and ask them all the questions you need to know the answers to ! Step one is to NEVER do a transaction without an honest lawyer, and there are a few around. P.S. and don,t listen to the prophets of doom. Do your homework and you will not be disappointed or scr**ed.

Edited February 3, 2017 by phantomfiddler

[timewilltell]

Yes - don't unless it is a condo and they are not good investments long term. In fact property generally risky as Thais don't like secondhand so value plummets. Lawyers cannot be trusted - doesn't mean there are no good ones just you will have no idea whether good or bad. Even registered leases can be cancelled and the property sold on by fraud but the courts will ignore the lease as irrelevant to ownership, registered or not, cancelled illegally or not.  Then there is the issue that no obe knows what the law is because of weak rules on precedent so effectively everything is up to the whim of the judge and remember money can buy anything illegal here.

 

On so many grounds it is a bad idea unless you have Thai children under your sole guardianship where you have a slim chance of retaining some say in what goes on.  Property is a huge scam in Thailand, information is sketchy and based on personal experience rather than sound law.  

[gamini]

The biggest scammers in this country  real estate business are farangs. That is the first lesson for you to learn

[zorro1]

The biggest scammers in this country  real estate business are farangs. That is the first lesson for you to learn

How do they scam? If you are talking about high asking prices then they will go out of business if they fight market forces

[blackcab]

4 hours ago, gamini said:

The biggest scammers in this country  real estate business are farangs. That is the first lesson for you to learn

 

There are some exceptions.

[jmhogan]

Thanks for all the replies.  I don't think all Real Estate Agents are crooked here.  We are hoping to run such a business and I have 20 years of professional experience (not being a landlord or owning a house like some claim as experience )but licensed trained experience where I was an actual Broker.  

 

The lack of organization here does make Real Estate difficult! 

[trogers]

11 hours ago, jmhogan said:

Thanks for all the replies.  I don't think all Real Estate Agents are crooked here.  We are hoping to run such a business and I have 20 years of professional experience (not being a landlord or owning a house like some claim as experience )but licensed trained experience where I was an actual Broker.  

 

The lack of organization here does make Real Estate difficult! 

That lady selling noodles just outside the condo in the evenings might also be a real estate agent...

[williamgeorgeallen]

On 2/3/2017 at 4:02 PM, StevieAus said:

Personally I think you would be very vulnerable attempting to make any land or other realestate purchase without using a reputable lawyer

My wife and I have used a well known female lawyer in Chiang Mai for many years for several transactions and for what is in real terms is a relatively small fee

I do not think it is worth taking the risk particularly if you do not speak or read Thai

this is good advice. having owned a few properties in thailand advice from my experience is stay out of property in thailand. property does not seem to appreciate in thailand like it does in the west and the pool of buyers is limited.

[ThaiWai]

"an English course that will teach you the in's and out's of a Real Estate transaction in Thailand"

 

Here's the short course.

Chapter 1 page 1

Don't get in.

If you are in, get out.

These are the in's and out's

End

 

[metisdead]

A troll post has been removed.  Another post promoting another forum has been removed. 

[funandsuninbangkok]

On 2/3/2017 at 11:47 PM, jmhogan said:

Thanks for all the replies.  I don't think all Real Estate Agents are crooked here.  We are hoping to run such a business and I have 20 years of professional experience (not being a landlord or owning a house like some claim as experience )but licensed trained experience where I was an actual Broker.  

 

The lack of organization here does make Real Estate difficult! 

 

If you are such an expert you'd know real estate skill is developing local knowledge and your 20 years elsewhere is buttkis here. 

 

Still you sound about average for a Thai broker. Welcome!  Welcome!  Love you long time! What's your budget?

[Bulldozer Dawn]

On 2/4/2017 at 11:44 AM, williamgeorgeallen said:

this is good advice. having owned a few properties in thailand advice from my experience is stay out of property in thailand. property does not seem to appreciate in thailand like it does in the west and the pool of buyers is limited.

I bought a property last year for 410K.  I have just been offered 790K. 

 

A house not far from me sold last year for 1.7mil.  It just resold for 2.5 mil.

 

A one rai block not far from me sold last year for 1.1mil.  It just resold for 2.3 mil (with backfill circa 250K).

 

[williamgeorgeallen]

2 hours ago, Bulldozer Dawn said:

I bought a property last year for 410K.  I have just been offered 790K. 

 

A house not far from me sold last year for 1.7mil.  It just resold for 2.5 mil.

 

A one rai block not far from me sold last year for 1.1mil.  It just resold for 2.3 mil (with backfill circa 250K).

 

it is possible to make money in thai realestate and over the last 10 years of living in thailand but i have heard mostly of people loosing. sitting on property for many many years and selling for the same price (far less with inflation) or for a discount. much easier to leverage in the west and make greater safer returns.

[trogers]

4 hours ago, williamgeorgeallen said:

it is possible to make money in thai realestate and over the last 10 years of living in thailand but i have heard mostly of people loosing. sitting on property for many many years and selling for the same price (far less with inflation) or for a discount. much easier to leverage in the west and make greater safer returns.

Most of these people who are losing money had paid developers' inflated prices for one of the many tens of thousands of shoeboxes.

 

And guess what when they want to sell...there are hundreds of similar shoeboxes in their vicinity also looking for buyers...including competition from resales units, which are the unsold stocks of developers.

Edited February 10, 2017 by trogers

[funandsuninbangkok]

7 hours ago, Bulldozer Dawn said:

I bought a property last year for 410K.  I have just been offered 790K. 

 

A house not far from me sold last year for 1.7mil.  It just resold for 2.5 mil.

 

A one rai block not far from me sold last year for 1.1mil.  It just resold for 2.3 mil (with backfill circa 250K).

 

Land prices have gone up. Some foreigners own land illegally and may profit. Most own through their wives. Let me know how that works out. 

 

Dow up 350% in seven years. Lever up with margin, up loan 1000%.  Buy and sell with Schwab account in Hong Kong. 7 dollars a trade, unlimited amounts. 

 

Buy property here if you want but with coming land tax and death tax in Thailand and continued political troubles ,  it is not smart. 

 

Just sayin'. 

Edited February 10, 2017 by funandsuninbangkok

[funandsuninbangkok]

7 hours ago, Bulldozer Dawn said:

I bought a property last year for 410K.  I have just been offered 790K. 

 

A house not far from me sold last year for 1.7mil.  It just resold for 2.5 mil.

 

A one rai block not far from me sold last year for 1.1mil.  It just resold for 2.3 mil (with backfill circa 250K).

 

Land prices have gone up. Some foreigners own land illegally and may profit. Most own through their wives. Let me know how that works out. 

 

Dow up 350% in seven years. Lever up with margin loan 1000%.  Buy and sell with Schwab account in Hong Kong. 7 dollars a trade, unlimited amounts. 

 

Buy property here if you want but with coming land tax and death tax in Thailand and continued political troubles ,  it is not smart. 

 

Just sayin'. 

[trogers]

2 hours ago, funandsuninbangkok said:

Land prices have gone up. Some foreigners own land illegally and may profit. Most own through their wives. Let me know how that works out. 

 

Dow up 350% in seven years. Lever up with margin loan 1000%.  Buy and sell with Schwab account in Hong Kong. 7 dollars a trade, unlimited amounts. 

 

Buy property here if you want but with coming land tax and death tax in Thailand and continued political troubles ,  it is not smart. 

 

Just sayin'. 

A bubble can only burst when inflated...DOW up 350% from the last bursting?

[funandsuninbangkok]

6 hours ago, trogers said:

A bubble can only burst when inflated...DOW up 350% from the last bursting?

Agreed if your planning to buy today and sell next month it's tough. If you bought a few years ago and your selling in  ten to twenty, no brainer. US stocks beat Thai condos every time. 

 

 

[jmhogan]

I have said this to a lot of people if you do not own the land the house will only increase so much. Land ownership 100% is the key

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[Bulldozer Dawn]

 

On 2/10/2017 at 8:45 AM, funandsuninbangkok said:

Land prices have gone up. Some foreigners own land illegally and may profit. Most own through their wives. Let me know how that works out. 

 

Dow up 350% in seven years. Lever up with margin, up loan 1000%.  Buy and sell with Schwab account in Hong Kong. 7 dollars a trade, unlimited amounts. 

 

Buy property here if you want but with coming land tax and death tax in Thailand and continued political troubles ,  it is not smart. 

 

Just sayin'. 

But your investment is not up 350% because every year Uncle Sam takes a huge bite of capital gains tax.  Or did you forget about that?

 

Why not trade on the SET.  There is no CGT levied on foreigners who make a profit trading Thai shares.

 

Trade Thai Shares and Pay No Tax

 

[trogers]

16 minutes ago, Bulldozer Dawn said:

 

But your investment is not up 350% because every year Uncle Sam takes a huge bite of capital gains tax.  Or did you forget about that?

 

Why not trade on the SET.  There is no CGT levied on foreigners who make a profit trading Thai shares.

 

Trade Thai Shares and Pay No Tax

 

I don't see how 350% over 8 years can be based on real economic growth of average 2% pa over the same period...

 

Just a result of lots of hot air from frequent changing of hands...?

[funandsuninbangkok]

On 2/11/2017 at 9:04 PM, trogers said:

I don't see how 350% over 8 years can be based on real economic growth of average 2% pa over the same period...

 

Just a result of lots of hot air from frequent changing of hands...?

Americans pay capital gains all over. Don't matter where they buy or sell(if they tell the truth)

 

Corp profits doubled between 2008 and 2015. Stocks were undervalued in 2009 and a bit expensive now. Thus 350% up

 

Now Trump bump is anticipation of halving of coporate tax and regulation.  I agree. 2017/ 2018 going to be record year for US equities. Join the party. 

[funandsuninbangkok]

On 2/11/2017 at 8:44 PM, Bulldozer Dawn said:

 

But your investment is not up 350% because every year Uncle Sam takes a huge bite of capital gains tax.  Or did you forget about that?

 

Why not trade on the SET.  There is no CGT levied on foreigners who make a profit trading Thai shares.

 

Trade Thai Shares and Pay No Tax

 

Invest some on SET but it's a pack of wolves. Would not be granny's beer money on it. If your at a card game and you don't know the pidgin....

[jmhogan]

Kinda went off topic didnt we

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