theguyfromanotherforum Posted April 22, 2017 Share Posted April 22, 2017 What is the deal with hotel managed condos in Pattaya such as amari and centara? Let's say I buy a 3mil unit in one of those establishments and when I'm not using it will the hotel rent it out short term? Link to comment Share on other sites More sharing options...
Peterw42 Posted April 22, 2017 Share Posted April 22, 2017 I suppose it all comes down to how its set up, is it a hotel operating in a condo block, or are you buying a condo in a hotel block etc. There are lots of complexes in BKK were they have Acme hotel and a seperate tower/building called Acme residences, sharing the same swimming pool etc. I think in lots of cases there is a seperation floors 1-5 is the hotel and floors 5-10 is the condos. Certainly something to consider if buying. Link to comment Share on other sites More sharing options...
Halfaboy Posted April 22, 2017 Share Posted April 22, 2017 Rules are all stipulated out in the Condominium Act. Link to comment Share on other sites More sharing options...
dorayme Posted April 22, 2017 Share Posted April 22, 2017 I would look at how the management and operating expenses are shared between the hotel and condos. Link to comment Share on other sites More sharing options...
Monkeyrobot Posted April 22, 2017 Share Posted April 22, 2017 It's separate the condo side had its own Jurassic , and you own the condo , they can not rent it out while you are not there. Link to comment Share on other sites More sharing options...
digbeth Posted April 22, 2017 Share Posted April 22, 2017 So the perks are that you can call room service, cleaning at maybe they won't let the building fall in disrepair... but if the residence has its own juristic person and fund separate from the hotel I don't see any benefit... If the hotel part is considered a co-owner (albeit with a bigger if not majority share of the building) in the condo, I can see that the hotel could be a major contributor to building maintenance Link to comment Share on other sites More sharing options...
theguyfromanotherforum Posted April 22, 2017 Author Share Posted April 22, 2017 Thanks for the answers guys. So basically no peace of mind sort of speak with renting it.... have to do it myself. Link to comment Share on other sites More sharing options...
abab Posted April 22, 2017 Share Posted April 22, 2017 What did you expect ?! Link to comment Share on other sites More sharing options...
NoBrainer Posted April 22, 2017 Share Posted April 22, 2017 How about these guys advertising here on Thai Visa, offering 7%, 10% & 14% returns, guaranteed by a Major Hotel group. How secure do you really think that is? Has anybody here invested yet? Would be interested in hearing how it is going. Or any other opinions as to it's viability as an investment vehicle. Link to comment Share on other sites More sharing options...
verito Posted April 22, 2017 Share Posted April 22, 2017 Why will they offer 7-10-14%% if you purchase a room, if they can take a bank credit for 2-3-4%%? Same money for less %%? Because they MUST return the bank credit but they can don't return your %%-s... Very simple,it's business,baby. Link to comment Share on other sites More sharing options...
champers Posted April 22, 2017 Share Posted April 22, 2017 45 minutes ago, verito said: Why will they offer 7-10-14%% if you purchase a room, if they can take a bank credit for 2-3-4%%? Same money for less %%? Because they MUST return the bank credit but they can don't return your %%-s... Very simple,it's business,baby. It's fraud, actually. Link to comment Share on other sites More sharing options...
Destiny1990 Posted April 22, 2017 Share Posted April 22, 2017 4 hours ago, NoBrainer said: How about these guys advertising here on Thai Visa, offering 7%, 10% & 14% returns, guaranteed by a Major Hotel group. How secure do you really think that is? Has anybody here invested yet? Would be interested in hearing how it is going. Or any other opinions as to it's viability as an investment vehicle. Also Nordic in pratumnak offering 10% on their leasehold units for 10 years.Than these other hotel chains usually also give certain rental guarantee but of course its always never water tight. Link to comment Share on other sites More sharing options...
verito Posted April 23, 2017 Share Posted April 23, 2017 The Nordic offers 10% if we purchase a room about 3 times more expensive than in other condos. Ok,we agree to buy an expensive condo but expect 10% for 10 years. They say that earn your 10% from other guys who rent rooms in their hotels or their condos. But try to look their hotels or condos and you can see only a few people.This quantity of tenants cannot ensure your 10%... The only way they can some time,only some time pay your 10% is to sell more and more rooms. But after will come time for "to raise sails"... Link to comment Share on other sites More sharing options...
Henryford Posted April 23, 2017 Share Posted April 23, 2017 15 hours ago, Monkeyrobot said: It's separate the condo side had its own Jurassic , and you own the condo , they can not rent it out while you are not there. Must be a pretty old hotel. Link to comment Share on other sites More sharing options...
JSixpack Posted April 23, 2017 Share Posted April 23, 2017 (edited) 1 hour ago, verito said: The only way they can some time,only some time pay your 10% is to sell more and more rooms. But after will come time for "to raise sails"... No. They're merely returning over time your excess payment to you. You seem ignorant re: the return of capital concept, quite basic. Only spendthrifts might find it useful in this case. Edited April 23, 2017 by JSixpack Link to comment Share on other sites More sharing options...
abab Posted April 23, 2017 Share Posted April 23, 2017 2 hours ago, verito said: The Nordic offers 10% if we purchase a room about 3 times more expensive than in other condos. Ok,we agree to buy an expensive condo but expect 10% for 10 years. They say that earn your 10% from other guys who rent rooms in their hotels or their condos. But try to look their hotels or condos and you can see only a few people.This quantity of tenants cannot ensure your 10%... The only way they can some time,only some time pay your 10% is to sell more and more rooms. But after will come time for "to raise sails"... But they seem quite sure about what they are doing ? How many millions euros they have invested here ? Link to comment Share on other sites More sharing options...
Destiny1990 Posted April 23, 2017 Share Posted April 23, 2017 32 minutes ago, JSixpack said: No. They're merely returning over time your excess payment to you. You seem ignorant re: the return of capital concept, quite basic. Only spendthrifts might find it useful in this case. Probably a combination of 1.rental income,2.return of your inflated buyers price 3.payments from the next buyer signing up. Link to comment Share on other sites More sharing options...
JSixpack Posted April 23, 2017 Share Posted April 23, 2017 8 minutes ago, Destiny1990 said: Probably a combination of 1.rental income,2.return of your inflated buyers price 3.payments from the next buyer signing up. Obviously rental income, if the place is rented, will be used, but the guarantee hinges on ROC. I don't agree with our ace TVF economists who see a pyramid scheme under every rock, and to suggest that this is a pyramid scheme probably violates Thai libel laws. Link to comment Share on other sites More sharing options...
Destiny1990 Posted April 23, 2017 Share Posted April 23, 2017 14 minutes ago, JSixpack said: Obviously rental income, if the place is rented, will be used, but the guarantee hinges on ROC. I don't agree with our ace TVF economists who see a pyramid scheme under every rock, and to suggest that this is a pyramid scheme probably violates Thai libel laws. Yes not a pure pyramid scheme but a combi of my 3 points that I mentioned.Example Their 3 million bht condo but the real price is only 2 million.(they pocket 1 million) Than estimated 5% annual rental returns makes in 10 years time 1,5 million bht income plus u over paid one million bht makes already 2,5 million bht.sure they launch some new project in these ten years time so they only need to take half a million bht from these down payments in order to return you your 10x10% basically this can go on forever. Link to comment Share on other sites More sharing options...
BernieOnTour Posted April 23, 2017 Share Posted April 23, 2017 2 hours ago, abab said: But they seem quite sure about what they are doing ? How many millions euros they have invested here ? "They" invested ? Are you sure? Link to comment Share on other sites More sharing options...
BernieOnTour Posted April 23, 2017 Share Posted April 23, 2017 1 hour ago, Destiny1990 said: ... basically this can go on forever. ... and that's the decisive question: "Forever" ? What, if another drawdown like 2008 happens? Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now