Psychological torture of condo living Jomtien

[tolsti]

11 minutes ago, Destiny1990 said:

Whats that?

 

Edited May 17, 2017 by tolsti
wrong OP

[Destiny1990]

5 minutes ago, tolsti said:

and you believe that Northshore is High Rise?..... shirly shome mishtake

I never said anything about Northshore duh but yes since u ask me its a high rise now stop quoting me thanks.

[tolsti]

29 minutes ago, teddog said:

yes bung more posts in quick, get away from factual postings,it spoils the game  LOL

 

'Northshore has nothing remotely in common with this  erm.... not one bit  excepting high rise

And you think Northshore is High Rise?...... Shirly shome mishtake

[teddog]

Id utterly hate to live in the Base with the likes of these last few posters ,,yesif purchased a grave mistake was made.money lost, big time, just keep on convincing yourselves  go on  keep posting  its laughable

[Fujionrye]

Stayed at The Base for a month earlier this year. Building A, 28th floor facing south so great view. My rent was 30K. For a longer term lease, this would be quite a bit less,,,, 20K-25K? Lots of doors with plastic wrap on my floor, 7 I think. So inquired at the sales office about pricing and was told everything on that side of A building from the 20th floor up has been sold except one on the 22nd floor.They wanted 4.3M for it. I wouldn't buy there, just curious. Very noisy at night and the constant hum of rooftop a/c units.

Signs in the elevators warning against short term rentals but always lots of people with luggage in the lobby so probably short term renters.

[CharlieH]

A few flame/troll style posts removed

[teddog]

The Base has had its day, poor qualty build,the developer got shut quickly as many as he could,all downhill now for that place especially...maintenance fees will not be paid by a majority  a slum in the making

[tazly]

2 hours ago, teddog said:

blah blah blah,  yes seen these multiple especially Indian purchases, didn't it go wrong .LOL , a bit late on the game the Chinese,thought they were in for a killing on rentals, guess what? nobody rented , the indian guy paid no maintenance fee or fees, place descended into slum, same same here, but i think Chinese (if and I say if) did buy multiple purchases it was to off load quickly, releasing now major mistake.  A total death warrant on the Base if that is true.  get out of the place while the going is good

 

ps are they still waving those green flags outside the Base,were other week,surely a mass Chinese take over then?

ur very racist....where are you from?

[ThaiBob]

On 5/15/2017 at 10:14 AM, newnative said:

Yes, I've wondered the exact same thing. My partner and I looked at one of these units several years ago and didn't like the layout at all-- too few windows for so much space--and one of the windows so high up that you can't see out of it.  In America the developer would have a close-out sale with drastic price reductions and move on to the next project.

The developer claims he offers a 10% reduction off the list price but actually raises the list prices slightly year after year. The Thai-Chinese owner is clueless in marketing properties as he has no advertising budget, no website, no models, no Facebook, etc. so apparently he just doesn't care. Granted they are challenge to sell because of their price and size (115-257 sqm). About 8-10 of these units have been sold since project completion. 

[Destiny1990]

1 hour ago, ThaiBob said:

The developer claims he offers a 10% reduction off the list price but actually raises the list prices slightly year after year. The Thai-Chinese owner is clueless in marketing properties as he has no advertising budget, no website, no models, no Facebook, etc. so apparently he just doesn't care. Granted they are challenge to sell because of their price and size (115-257 sqm). About 8-10 of these units have been sold since project completion. 

5 million for 115 sqm seems about right.

[11223344]

6 hours ago, bkk6060 said:

Buy a place and rent it out for 1200 to 1500 b a night. This place The Base is in high demand so figure it out at 25 nights a month

Multiply that times several units some people are making a killing.  They don't want to sell with a 30,000 b+ a month income. Their payment if they have one is 1/2 that every month.

Whatever, believe what you want I live here and see the people./demand for this place maybe the best location for a nice condo in the city.  To add get and interior location on a high floor like I have and it is quiet quiet.  I love it here just signed another 1 year lease. 

well

 

https://www.airbnb.com/rooms/12858106 - 800 THB a night, min 20 days stay accepted

https://www.airbnb.com/rooms/13027027 - 600 THB for month to month

 

Quite a big % difference from 1200-1500 a night

 

[newnative]

4 hours ago, teddog said:

Id utterly hate to live in the Base with the likes of these last few posters ,,yesif purchased a grave mistake was made.money lost, big time, just keep on convincing yourselves  go on  keep posting  its laughable

Not money lost, Ted.  Not money lost 'big time'.  Or, small time, Ted.  Sorry, sorry, sorry to burst your bubble, Ted.   Now, this is exclusively for you, and just you, Ted,  but only if you triple promise not to let your head explode.  No head explosions, Ted!  Promise!  Ok, nobody else will read this but you.   So here it is, Ted, just for you and only you.  I bought a top floor 1 bedroom at The Base, Ted,  off-plan for 3MB.  Off-plan means before it's constructed, Ted.  (It's ok to buy off-plan if it is a reputable builder, Ted.  Sansiri is a very good builder, Ted,  and they complete their projects on time.  Sometimes even early!)   Ok, so then the condo is built, Ted, and I buy it.   Then, guess what, Ted.  I rented the condo for 11 months for 25,000 Baht a month.  Not too bad a return, Ted.  The renter paid on time every month, Ted.  Good tenant.  OK rent money and I was happy, Ted.   Everything's going good, Ted.  But, guess what happened next, Ted.  Someone offered me 4.25MB for the condo.   Even though it was rented, Ted,  I said, hmm, that's not a bad deal.  So, I sold the condo, Ted, and made an ok profit, I think.  Anyway, I am happy, Ted.  But, Ted, I'm not sure you are happy because I didn't lose 'big time' on the deal.  It wasn't a 'grave mistake', Ted.  So sorry it wasn't the horrible ending you were hoping for, Ted.  Remember, you triple promised not to let your head explode--maybe hold the sides of your head with both hands, Ted. 

[Destiny1990]

27 minutes ago, 11223344 said:

well

 

https://www.airbnb.com/rooms/12858106 - 800 THB a night, min 20 days stay accepted

https://www.airbnb.com/rooms/13027027 - 600 THB for month to month

 

Quite a big % difference from 1200-1500 a night

 

Yes besides poorly attitude residents also pretty shitty rental returns in The Base pattaya condo.wonder why bkk6060 keep distorting the truth.

[Destiny1990]

12 minutes ago, newnative said:

Not money lost, Ted.  Not money lost 'big time'.  Or, small time, Ted.  Sorry, sorry, sorry to burst your bubble, Ted.   Now, this is exclusively for you, and just you, Ted,  but only if you triple promise not to let your head explode.  No head explosions, Ted!  Promise!  Ok, nobody else will read this but you.   So here it is, Ted, just for you and only you.  I bought a top floor 1 bedroom at The Base, Ted,  off-plan for 3MB.  Off-plan means before it's constructed, Ted.  (It's ok to buy off-plan if it is a reputable builder, Ted.  Sansiri is a very good builder, Ted,  and they complete their projects on time.  Sometimes even early!)   Ok, so then the condo is built, Ted, and I buy it.   Then, guess what, Ted.  I rented the condo for 11 months for 25,000 Baht a month.  Not too bad a return, Ted.  The renter paid on time every month, Ted.  Good tenant.  OK rent money and I was happy, Ted.   Everything's going good, Ted.  But, guess what happened next, Ted.  Someone offered me 4.25MB for the condo.   Even though it was rented, Ted,  I said, hmm, that's not a bad deal.  So, I sold the condo, Ted, and made an ok profit, I think.  Anyway, I am happy, Ted.  But, Ted, I'm not sure you are happy because I didn't lose 'big time' on the deal.  It wasn't a 'grave mistake', Ted.  So sorry it wasn't the horrible ending you were hoping for, Ted.  Remember, you triple promised not to let your head explode--maybe hold the sides of your head with both hands, Ted. 

Well nice but most likely u forgot that u upgraded your flat as this is your business niche for 500-700k then after paying sale taxes u probably broke even on the unit.big risk for nothing and if developer had gone bankrupt u would have lost all your upfront payments.

[tazly]

43 minutes ago, Destiny1990 said:

Well nice but most likely u forgot that u upgraded your flat as this is your business niche for 500-700k then after paying sale taxes u probably broke even on the unit.big risk for nothing and if developer had gone bankrupt u would have lost all your upfront payments.

Totally agree....also this one time winner cites one success story.....I wonder how many losses were not mentioned.  Then there is the opportunity cost.  His money in a well adjusted investment portfolio might have had a better return.

[theguyfromanotherforum]

Aren't sales taxes significant if you don't keep your unit for at least 5 years? That's what I heard anyway.... no clue if it's true.

[teddog]

6 hours ago, newnative said:

Not money lost, Ted.  Not money lost 'big time'.  Or, small time, Ted.  Sorry, sorry, sorry to burst your bubble, Ted.   Now, this is exclusively for you, and just you, Ted,  but only if you triple promise not to let your head explode.  No head explosions, Ted!  Promise!  Ok, nobody else will read this but you.   So here it is, Ted, just for you and only you.  I bought a top floor 1 bedroom at The Base, Ted,  off-plan for 3MB.  Off-plan means before it's constructed, Ted.  (It's ok to buy off-plan if it is a reputable builder, Ted.  Sansiri is a very good builder, Ted,  and they complete their projects on time.  Sometimes even early!)   Ok, so then the condo is built, Ted, and I buy it.   Then, guess what, Ted.  I rented the condo for 11 months for 25,000 Baht a month.  Not too bad a return, Ted.  The renter paid on time every month, Ted.  Good tenant.  OK rent money and I was happy, Ted.   Everything's going good, Ted.  But, guess what happened next, Ted.  Someone offered me 4.25MB for the condo.   Even though it was rented, Ted,  I said, hmm, that's not a bad deal.  So, I sold the condo, Ted, and made an ok profit, I think.  Anyway, I am happy, Ted.  But, Ted, I'm not sure you are happy because I didn't lose 'big time' on the deal.  It wasn't a 'grave mistake', Ted.  So sorry it wasn't the horrible ending you were hoping for, Ted.  Remember, you triple promised not to let your head explode--maybe hold the sides of your head with both hands, Ted. 

 

You,without a doubt are losing money,  try this...put that flat of yours on the market..see if anyone anyone at all bites at a price that you bought it for,  go on try it.....never in a million trillion years..and its losing money  big time

[Peterw42]

20 minutes ago, teddog said:

You,without a doubt are losing money,  try this...put that flat of yours on the market..see if anyone anyone at all bites at a price that you bought it for,  go on try it.....never in a million trillion years..and its losing money  big time

How is he losing Money, he bought for 3 m and sold for 4.25 m, and made 250,000 in rental income. Thats 1.5 m gross profit. Even with taxes and transfer fees of 10% (usually around 5-8% and split with buyer), he has a net profit if 1m baht.

[newnative]

6 hours ago, Destiny1990 said:

Well nice but most likely u forgot that u upgraded your flat as this is your business niche for 500-700k then after paying sale taxes u probably broke even on the unit.big risk for nothing and if developer had gone bankrupt u would have lost all your upfront payments.

Condos come furnished at The Base. Spent about 100,000 Baht for electronics, appliances, window treatments, artwork, balcony furniture, linens and housewares, vanity, etc..  But, was ahead of the game to start because Sansiri had a special promotion when The Base first opened--if you closed early they paid the sinking fund, closing costs, and first years condo fee.  That paid for a good part of the costs to complete the furnishings.  By the way, I don't know how you could possibly spend 500-700,000 Baht on a 35sqm condo.  Ridiculous.  Even if you could, you wouldn't want to--it's a 35sqm condo.  Probably the biggest change we made was adding the bath vanity to the wall-hung sink--9000 Baht, including installation.  You renovate mostly governed by size and purpose--in this case a rental.  Sansiri is a well-run, well-financed Bangkok developer with many completed projects--there was minimal risk buying off-plan--but steer clear of no-name operations.  Obviously, if I wasn't making a nice profit on the sale I would have held the condo and continued to collect the 25,000 Baht a month--all profit the first year since Sansiri paid the condo fees and the tenant paid his utilities. 

[teddog]

13 minutes ago, Peterw42 said:

How is he losing Money, he bought for 3 m and sold for 4.25 m, and made 250,000 in rental income. Thats 1.5 m gross profit. Even with taxes and transfer fees of 10% (usually around 5-8% and split with buyer), he has a net profit if 1m baht.

 

You see here people tell you anything at all,it's what they do not tell you that is important.

 

   3mil, I tripled that in short order on stocks, yes I did.  This guy is way out in front at losing 1 mil  after almost 12 months

[newnative]

40 minutes ago, teddog said:

You,without a doubt are losing money,  try this...put that flat of yours on the market..see if anyone anyone at all bites at a price that you bought it for,  go on try it.....never in a million trillion years..and its losing money  big time

Oh, Ted, Ted, Ted.  You triple promised not to let your head explode.  Remember, Ted, both hands on the side of your head if you read any of my posts.   Ted, I would dearly, dearly love to have another flat at The Base to put on the market to see if anyone bites at the price.  Oh, wouldn't I just, Ted.  But, I was dumb, Ted.  Or, maybe it was being conservative, Ted--yeah, that sounds a lot better than being dumb, doesn't it, Ted.  I was conservative, Ted.  Too darn conservative, Ted.  Too careful about buying, Ted.  Don't put all your eggs in one basket careful, Ted.  Tarnation, sweet Jesus, drat, (add any expression you want), I only bought the one condo, Ted.  Just the one, dadgumit, Ted.   Dumb, dumb, dumb, Ted--oops, we're not using that word. 

[teddog]

13 minutes ago, newnative said:

Condos come furnished at The Base. Spent about 100,000 Baht for electronics, appliances, window treatments, artwork, balcony furniture, linens and housewares, vanity, etc..  But, was ahead of the game to start because Sansiri had a special promotion when The Base first opened--if you closed early they paid the sinking fund, closing costs, and first years condo fee.  That paid for a good part of the costs to complete the furnishings.  By the way, I don't know how you could possibly spend 500-700,000 Baht on a 35sqm condo.  Ridiculous.  Even if you could, you wouldn't want to--it's a 35sqm condo.  Probably the biggest change we made was adding the bath vanity to the wall-hung sink--9000 Baht, including installation.  You renovate mostly governed by size and purpose--in this case a rental.  Sansiri is a well-run, well-financed Bangkok developer with many completed projects--there was minimal risk buying off-plan--but steer clear of no-name operations.  Obviously, if I wasn't making a nice profit on the sale I would have held the condo and continued to collect the 25,000 Baht a month--all profit the first year since Sansiri paid the condo fees and the tenant paid his utilities. 

 

 

...but last time you 'bought' a place here 12 months ago it was Centric Sea

Edited May 18, 2017 by teddog

[ThaiBob]

12 minutes ago, teddog said:

You see here people tell you anything at all,it's what they do not tell you that is important.

 

   3mil, I tripled that in short order on stocks, yes I did.  This guy is way out in front at losing 1 mil  after almost 12 months

Please share whatever you are drinking and/or smoking. 

[Peterw42]

5 minutes ago, teddog said:

You see here people tell you anything at all,it's what they do not tell you that is important.

 

   3mil, I tripled that in short order on stocks, yes I did.  This guy is way out in front at losing 1 mil  after almost 12 months

Not sure what stocks you are shorting in the current Bull market, but well done. There is probably money in Latvian pork belly futures but we are talking about the Thai condo market.

 

I am still not following how you can say newnative lost 1mil ? 

 

 

[newnative]

6 hours ago, tazly said:

Totally agree....also this one time winner cites one success story.....I wonder how many losses were not mentioned.  Then there is the opportunity cost.  His money in a well adjusted investment portfolio might have had a better return.

Wait a minute. You 'totally agree' with the guy who said that I just broke even at best--but then you say this is my 'one success story'.  Hmm.  I wish I could pick stock winners but I am terrible at it.  I own GE stock, for example, and I rest my case.  So, I do this instead.  I've made a profit on every condo I've sold here and in America (otherwise, why sell if you're not strapped for cash?) but I'll be the first to admit some profits have been bigger than others.  But, it's fun.

[teddog]

Just now, Peterw42 said:

Not sure what stocks you are shorting in the current Bull market, but well done. There is probably money in Latvian pork belly futures but we are talking about the Thai condo market.

 

I am still not following how you can say newnative lost 1mil ? 

 

 

 

For a regular commentator on Centric Sea and how marvellous it was , yes upper floors 2 bedroomed ,now it appears the Base has taken his fancy.    Try selling either now especially Centic Sea   it will be well over 1 mil loss,the place is empty unsellable     try the base too

[newnative]

22 minutes ago, teddog said:

...but last time you 'bought' a place here 12 months ago it was Centric Sea

Actually I think it's been more than 12 months.  That was conservative me not putting all my eggs in one  basket.

[teddog]

Just now, newnative said:

Actually I think it's been more than 12 months.  That was conservative me not putting all my eggs in one  basket.

 

Well you lost the lot there then....how much?   3 mil ?  3.4 mil?      that balance sheet must be red lining now  

[KittenKong]

42 minutes ago, Peterw42 said:

he bought for 3 m and sold for 4.25 m

 

Doing this involves finding someone daft enough to pay 4.25m for a small third world condo in a city that has many hectares of undeveloped land in its centre. In Thailand most prices bandied about are rarely average selling prices as one might expect to hear in the West. It's always "you could get x million for this". Well, yes, and I could have gold-plated testicles. But I dont.

And apparently the purchase price was a discounted off-plan one. That also will be impossible to repeat.

 

The important question is "what is the condo actually worth today"? And to me that means "at what price would it sell within a month if put on the market".  And this is the question that is rarely answered in Thailand. For every person I know who reckons to have made a profit on owning property here I know 5 who reckon to have made a loss in Baht terms, or would make a loss if they sold today. And I include myself in that second group. Maybe I just know the wrong people.

In the time that I have owned it my condo has dropped in value. In the same period my stocks have increased by 30+% in value. And they are entirely liquid and have a specific value that can be determined (and realised, if needed) 24/7, unlike Thai property.

[newnative]

2 minutes ago, teddog said:

For a regular commentator on Centric Sea and how marvellous it was , yes upper floors 2 bedroomed ,now it appears the Base has taken his fancy.    Try selling either now especially Centic Sea   it will be well over 1 mil loss,the place is empty unsellable     try the base too

Yes, Ted.  They are both totally deserted, Ted.  Ghost towns, Ted.  Absolute ghost towns, Ted.  Nobody home, Ted.  Nada, Ted.  Like you say, empty, Ted.  The brown paper on all the windows is curling up, Ted.  Both total disasters, Ted.  Oh, the humanity!, Ted.  Now, let's relax and see if we can't get you to bed and get something on that poor, exploded head of yours, Ted.