[Patong - The Wake]

13 hours ago, Mysterion said:

Your statements are becoming more and more absurd. You know nothing about my experience in real estate. Please try to keep the discussion positive and rational.

 

That is good that you also appear openminded to worthy property investments.

 

One does need an open mind, as there will almost always be a certain price that makes a property investment attractive to those that have funds.

 

Your landlord and you will sleep very well at night until you find that property priced right for you.

 

And what makes you think i have a landlord???

[Patong - The Wake]

4 hours ago, Mysterion said:

Sounds like the guy who bought it for 5m baht may have got a great deal from a very motivated seller.

 

Those are the kind of deals that are of interest to “vulture investors”.

 

Are you aware of any other very-mot youivated sellers now? Perhaps one of my friends would be keen to invest.

I really do not need you or one of your friends to buy a property if its worth buying in my opinion

I have forgotten more about buying and selling property than you will ever know and have plenty of funds myself

[Patong - The Wake]

On 1/22/2018 at 9:29 PM, Mysterion said:

I agree that investors need to be extra careful when investing in a foreign country that they are not as familiar with. That applies to stocks, bonds, currency, and real-estate etc.

 

For property seekers, if they are uncomfortable with both the risk & reward, they should just rent.

 

Renting will help them and their landlords sleep well at night.

 

 

 

 

Yes you are better of renting than paying the ridiculous prices set by foreign real estate agents on properties here, people end up getting less than they could have got when they first put their properties on the market if they had asked a reasonable in the beginning, everyone looses interest agents and buyers in old unsold listings same everywhere in the world, they end up taking their property out of agents hands and market it themselves most of the time to sell, regularly see owners advertising their

property at half the agents recommended price to sell it

Last property sold near us was 5 holiday units on a block of land listed for sale at 12M baht, the owner eventually sold them for 5M baht

[Patong - The Wake]

The problem is there are no properly trained and qualified trades people here, they all learn on the job and are taught by someone who has no recognized trade qualifications themselves either

When we had 2 new air conditioners installed they just drilled a hole on the brick wall put a bolt into it which they attached the earth wire to

I called the people we bought the air conditioners from and complained,they told me that was how they(didnt) earth all the air conditioners they installed

I told them i would get Samsung out to inspect the installation, no need they sent the installers back straight away and they then earthed the air conditioners properly to my satisfaction

My neighbor who does not have a clue about electrical installations had his air conditioner installed by the same people with no earth as well, i have told him its not earthed but he has done nothing about it, if he gets electrocuted its his own bad luck for not listening 

[Patong - The Wake]

You have to register a building plan here and have it approved, but once the builders especially the spec builders have got the approval they then ignore the approved plans and build exactly what they want to and not according to the plans to cut costs and save money.

There are no Government Building inspectors to make sure the building is built to approved plans

One of these spec builders has built houses near us of which one was sold to a foreigner, he now has people in ever week doing ongoing repairs to his house, after watching the house being built its not surprising the new owner is having all these problems

[Patong - The Wake]

Personally like a lot of Expats i have a Thai wife and family here, the property we own is in here name and eventually goes to her completely

No way if i was single would i invest in property here which you can never own anyway

Forget condos, foreigners can only owner up to 49% of a complexe and will never have any control over how its serviced and maintained and fees charged for doing this

[Patong - The Wake]

The simple fact is that most of us come from a home country where there are strict rules and regulations about who can hold a real estate salesman's license and even stricter rules about who can hold a real estate agents license, and a fund to compensate buyers and sellers if the agent does nor do due diligence properly before offering a property for sale where either buyer or seller lose money thru the deal thru their incompetence 

Its rafferty's rules here, the agents and their salespeople do not have to answer to anyone and have no training or qualifications that are required in most developed countries, they are not even required to get a police clearance which should be compulsory before dealing with the general public and offering their assets for sale

How many times have you heard about prospective buyers losing their deposits thru no fault of their own, it should have been returned to them   

[Patong - The Wake]

7 hours ago, phuketrichard said:

look at land along Millionaires row or in the hills of Kamala, Plenty of seaview land available

with prices to match!!!

Yes i know but if i was prepared to pay the prices they are asking i would buy in Australia where i can actually own the land in my own name not a nominees or company name and hope they don't enforce the the current company laws and take it away from me

This is not Hong Kong or Singapore, more like Bali, i have not checked for many years but when i did foreigners could not own land there as well just lease

[Patong - The Wake]

Sea view land is land where if sitting in your lounge room and and you look out the window you have a sea view which cannot be blocked by people building in front of it

I have not seen any land here advertised as sea view that actually has permanent a sea view

If your sea view is from a roof top terrace on a 2 storey building or a view partly block by the back of a condo block its not a sea view in my opinion( would you call it a condo view) and never will be, quite often people claim land is sea view when there is undeveloped land which when its built on in front of it will block any sea view completely

Land is permanent sea view when the view cannot be built out ever, there is one block of land at the north end of Nai Harn beach currently being built on that has a genuine sea view which can never be built out which is sea front and has a steep slope to it

I have seen a valley view house on Phuket that has a far better view than any of the sea view land i have inspected in Phuket which usually has a view of developed land(Kata/Karon or Patong)with the sea in the background 

[Patong - The Wake]

14 hours ago, schlog said:

Imho there is now no reason to buy. I made the best deals here when all wanted to get out of the door at same time like in 1997.

I will keep the land and 2 houses what i have and when the market is burning again then sure i will buy again. Preferable land plots.

 

How will be the impact on Phuket when the US interest rates continue to rise and the economic growth in China tends to shrink more?

Where will the big smart money goes? How will China react?

Will Thailand get high fewer when the chinese brother sneezing a lot?

 

This is only 1 aspect in my consideration and i'm not sure about all answers but buying time will come again.

 

 

 

Land is the way to go there is no depreciation That's how i invested and made most of my money, 

Nothing worth buying in Phuket at present its all very overpriced, i missed out on one block of land that has now been bought and resold twice and is really overpriced at present

Looked at 2 blocks of land in Phangnga one 14 rai with 2 year old rubber trees on it for 3M and the other 17 rai with a producing palm oil plantation on it for 7M, both negotiable prices, but both owners seemed to think that because some of the land had been promised to or was being used by another family member it may not be included in the sale even though its on the title deed, to much of a hassle to be bothered with purchasing them and i am not interested in farming anyway

[Truck or Car Covers - Do you use one?]

Stored a mates car for months a long time ago with a quality cover on in, expensive anyway

When he took the cover of the car it was covered in dust and crap and the paint was scratched, there was a lot of wind where i lived

I would not store a car under a cover ever again, just give it a wash when necessary

[Patong - The Wake]

Why would a single male with no family in Thailand invest in property here which he cannot own personally, only thru a thai partner which he does not have or a thai company which he controls the voting rights in which is not legal, he's better off renting, rents are cheap and you can shift any time you want to

All the expats i know have Thai wifes or long term partners and have invested in property here in their wife's name or a company name, they really are expats and have made Thailand their home and has no problem investing money here for their Thai families eventual benefit

 

If you shop around there are still good buys that come up even now, if you inspect a property with a agent make your offer thru him/her,but agents here are absolutely useless and do not have a clue how to inspect or value a property and just put it on the market at the vendors inflated asking price, thats why so many properties have been on the market for over 7 years

 

If you have a  area you are interested in buying property in let the local owners know you are a potential buyer and deal directly with them and do your own due diligence as the agents do not do it and have no clue about the outgoing expenses on properties or who the actual legal owner is from my own personal experience of dealing with them

If after you have done due diligence  you are still interested in buying a property make it full payment in cash on settlement, do not pay a deposit as you are very unlikely to get it back if the property is not as described by the vendor/agent and the only way you may get your money back is by using a professional debt collector, better of paying them from the money they collect from dishonest people       

[Patong - The Wake]

On 12/31/2017 at 8:45 PM, NamKangMan said:

 

"Clearly some small businesses did not have a business/money/budget plan." - a bit harsh LIK.

 

What are these owners to do, when halfway through their lease, Phuket falls out of favor with the western tourist market, due to circumstances beyond their control? 

 

No point hanging red lanterns out the front, and signage in Mandarin, and also dropping your room rates to rock bottom, if that doesn't turn a profit.  

 

Better to just walk away, hence, many are shuttered up.

Forget about catering to the fly in fly out workers who made Phuket their base and have now left Phuket and returned to their home countries to try and find work , also the single male visitor who are a dying breed, you are probably the only one who regularly posts on this forum, there were a lot in the past

Do not be stupid enough to rent a bar on a unregistered 3 year lease and expect people to feel sorry for you when you go broke because you do not have a clue how to buy or operate a business

Work out which people from which countries are now using the facilities and services you can provide and cater to these people, its called business sense, to many amateurs buy into businesses here who do not have a clue how to operate a business and turn a profit

 

As far as asking successful business people how to run a business and make a profit, forget it they are not going to tell you but tell you what you want to hear in your fantasy world, they are successful because they keep the way they run and manage their business to themselves 

If you have never run your own successful business Phuket is not the place especially at present to hope you can buy or open one, and it needs to be something different to the hundreds of exactly the same businesses operating now

Although we could probably do with another motorbike and car rental business in Rawai, but you would need to check it out yourself first before wasting your money 

[Patong - The Wake]

1 hour ago, KarenBravo said:

You sure about that?

From the link....

 

"Most of the cases they will make the deal with owners of the real estate based on location and consumer needs ,provide the management from their own behalf in return they will get some sort of management fees,and implement their own culture and value".

Elsewhere in the link, Marriot "claim" they only own 10 hotels.

 

Please supply a link to the site where it says that they have over 200.

Read on your own link a comment from Chris Peters, read the whole comment and you will find it

They same comment it seems, second paragraph 

[Patong - The Wake]

7 minutes ago, KarenBravo said:

The article I posted a link to shows that the hotel business does not agree with you.

I did read it Mate, and one Quote said marriott group physically own a couple of hundred locations, check yourself 

[Patong - The Wake]

Just business, own something if its a secure long term investment, Lease it if its not and keep your cash for a investment that is secure long term

I am sure any hotels owned by the hotel chains are the ones which have good long term capital gains and probably very little local competition, they can do this by buying up all the local land suitable for development and developing it themselves according to supply and demand

Laguna is a good example of this way of doing business long term

[Patong - The Wake]

12 hours ago, KarenBravo said:

A lot of big hotel/resort chains do not own the land, or building.

Typically, Thai investors buy the land, build the hotel and then get one of the big chains to run and manage it. 

I think you will find big investors like foreign hotel chains can buy and own land in Thailand for business purposes, so why would they rent or lease it, some may lease but not the majority if they are good business people, which most are and do their own investing, leasing of other investors does not make any sense

 

Its only small investors who just want to buy a house to live in that cannot own land here

I am quite happy for my wife to own our house, otherwise i would not have paid for it in the first place,its going to be only hers in the end and in the mean time i have rent free accommodation for the rest of my life

[Patong - The Wake]

A lot of big hotel/resort chains do not think Phuket is finished as a tourist destination and are still building and opening new resorts on Phuket including in Patong

Maybe they should take the advice of the financial experts on this forum and stop doing it  

[Patong - The Wake]

2 hours ago, schlog said:

In 20 years no one need manufacturing in Asia. It all will be done by 3D printing and automatism back in the engineer countries the states and europe. 

Then you will see what millions of hungry day laborer will do.

 

Like the arabians came out from the desert and there they will go back again. Same with the chinese and their history.

 

Keep dreaming, in 20 years time China will be the leading country for 3D printing and everything else, I wont be around then but if i was i would bet a serious amount of money on it as a donation to the Sunshine village Phuket knowing i would not lose the bet  

[Patong - The Wake]

10 hours ago, NamKangMan said:

 

"In 20 years time China will be the super power" - they are heading in that direction, but I'm thinking they will not be allowed to succeed.  Have you seen a map of all the US Military Bases????  A lot of them surround China.  A war would be one way to curtail their ambitions.

 

"unlike the Chinese economy that is improving every year" - as it should, with all that cheap slave communist labor and the theft of western intellectual property and copy rights. 

 

 

What a load of rubbish, China's military is much larger than the US, China has nuclear weapons and the US only use nuclear weapons on countries that cannot retaliate  (use them back)

Chinese and asian workers are happy getting a fair days wage for a fair days work that's why all manufacturing has shifted to their countries from the former powerful western countries which are slowly going bankrupt

 

You are really showing your lack of common knowledge again NKM, you need to keep up with whats really happening in the world today, China and Asia is the future for the manufacturing economy

Give in a few more years and some people who come to Thailand now will be back in their home countries catering to Thai and Chinese tourists and hoping to make a living from the money they make doing it and these Thai, Chinese and Asian people will be paying western prices for taxis without continuously whinging about them as poor people do 

By they way plenty of excellent products are coming from China now that were designed as well as manufactured there, they are stealing nothing as you like to claim, fake items still come from China and they are made for western customers mainly who keep this business going 

[Patong - The Wake]

2 hours ago, Destiny1990 said:

But in 20 years time they will and it be interesting talking with the Chinese better then just observing them..

In 20 years time China will be the super power and english speaking people will need to learn Chinese if they want to do business with them

Just sour grapes from some posters who think they are better than the chinese but come from failing economies unlike the Chinese economy that is improving every year

Every country in the world including the major ones like the USA are doing their best to attract Chinese tourist with longer and easier to get visas etc  

[Legend Car Windors Film / Tint Good or Not ? Similar to 3M in term of prices...]

Never had a problem with widow film here, just use what the car dealer supplies for free 

[Car dash camera in Thailand]

HP f770 a excellent dash cam but not cheap

[Patong - The Wake]

56 minutes ago, Mysterion said:

As Phuket property is exposed to international buyers/sellers, it will almost always offer great buy/sell opportunities for somebody in the world, depending on the currency that one is using at the time of converting into the baht for the property purchase.

 

For instance, russians and brits who invested in Thailand property 5 or 10 years ago can actually sell the property at a loss in baht terms, but still make good or even huge profits when the sale price is converted back to their home currency of pounds or rubles.  

 

Now is a fairly good time for USA buyers as the dollar has been strong against the baht.

 

The charts below show the huge potential baht currency profits made by the brits and russians between the last 5 and 10 years.

 

Many brit sellers have done well, and Russians sellers could have doubled their money just based on the currency movements.

You sound like someone involved in selling real estate hoping to find some buyers, best of luck

[Patong - The Wake]

Saw a Advertisement only last week for  condos bought of plan by a company called Fazwaz or something similar, 10% PA guaranteed return for 20 years, a load of B/S and they get away with their false advertising here all the time