Doisaketmoobaan Posted May 26, 2004 Share Posted May 26, 2004 Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted May 26, 2004 Share Posted May 26, 2004 Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R Houses or condo's, and are you employed in Thailand ? Link to comment Share on other sites More sharing options...
Doisaketmoobaan Posted May 26, 2004 Author Share Posted May 26, 2004 Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R Houses or condo's, and are you employed in Thailand ? All including commercial buildings. and no I am not currently employed in Thailand-R Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted May 26, 2004 Share Posted May 26, 2004 Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R Houses or condo's, and are you employed in Thailand ? All including commercial buildings. and no I am not currently employed in Thailand-R I presume that you are using a corporate structure to do these projects, is that correct ? Link to comment Share on other sites More sharing options...
Doisaketmoobaan Posted May 26, 2004 Author Share Posted May 26, 2004 Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R Houses or condo's, and are you employed in Thailand ? All including commercial buildings. and no I am not currently employed in Thailand-R I presume that you are using a corporate structure to do these projects, is that correct ? Thats the plan what other means are there? Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted May 26, 2004 Share Posted May 26, 2004 Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R Houses or condo's, and are you employed in Thailand ? All including commercial buildings. and no I am not currently employed in Thailand-R I presume that you are using a corporate structure to do these projects, is that correct ? Thats the plan what other means are there? You need to be talking to a lawyer now. You'll need Thai shareholders. Lenders are usually reluctant to lend to an unemplyed foreigner. Link to comment Share on other sites More sharing options...
chanchao Posted May 27, 2004 Share Posted May 27, 2004 Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R Houses or condo's, and are you employed in Thailand ? All including commercial buildings. and no I am not currently employed in Thailand-R I presume that you are using a corporate structure to do these projects, is that correct ? Thats the plan what other means are there? You need to be talking to a lawyer now. You'll need Thai shareholders. Lenders are usually reluctant to lend to an unemplyed foreigner. Nothing to say really, just looking to see how far we can nest quotes. ;-) Well, alright then: Keep in mind that the bank staff themselves will pick up the best deals for themselves first. Making friends with some could be worthwhile. (They'd still get some commission or whatever for their assistance, but you'd be higher up the chain.) Cheers, Chanchao Link to comment Share on other sites More sharing options...
Doisaketmoobaan Posted May 27, 2004 Author Share Posted May 27, 2004 Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R Houses or condo's, and are you employed in Thailand ? All including commercial buildings. and no I am not currently employed in Thailand-R I presume that you are using a corporate structure to do these projects, is that correct ? Thats the plan what other means are there? You need to be talking to a lawyer now. You'll need Thai shareholders. Lenders are usually reluctant to lend to an unemplyed foreigner. Nothing to say really, just looking to see how far we can nest quotes. ;-) Well, alright then: Keep in mind that the bank staff themselves will pick up the best deals for themselves first. Making friends with some could be worthwhile. (They'd still get some commission or whatever for their assistance, but you'd be higher up the chain.) Cheers, Chanchao This will be some really neat artwork Thanxs guys-R Link to comment Share on other sites More sharing options...
john b good Posted May 27, 2004 Share Posted May 27, 2004 Anyone have any experience buying property this way? We recently went to a bank auction sale and it seemed to be a great way to purchase property at a discount. They say they will finance 80% based on value?-R Houses or condo's, and are you employed in Thailand ? All including commercial buildings. and no I am not currently employed in Thailand-R I presume that you are using a corporate structure to do these projects, is that correct ? Thats the plan what other means are there? You need to be talking to a lawyer now. You'll need Thai shareholders. Lenders are usually reluctant to lend to an unemplyed foreigner. Whilst it might not be too clear to Thai lenders it might be a whole lot safer to lend to an unemployed foreigner. The reason they have got all the properties on their books is becaue [/b] Thai borrowers defaulted on their loans in the first place [/b] This in turn was a major reason that 56 Thai finance companies went through (leaving just one operating in 1997) and also that the Asian Financial crisis kicked in on 02 July 1997 "nuff said" Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted May 27, 2004 Share Posted May 27, 2004 The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction. Link to comment Share on other sites More sharing options...
john b good Posted May 27, 2004 Share Posted May 27, 2004 The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction. Agreed, but in actual fact they are still a better (safer) bet than a goodly percentage of Thais. Maybe I am a slow learner but I would just love to get some of the thousands (hundreds of thousands) of Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off. At least thataways I can sleep better knowing that it was not a loan that is unlikely to be honoured. Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted May 27, 2004 Share Posted May 27, 2004 The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction. Agreed, but in actual fact they are still a better (safer) bet than a goodly percentage of Thais. Maybe I am a slow learner but I would just love to get some of the thousands (hundreds of thousands) of Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off. At least thataways I can sleep better knowing that it was not a loan that is unlikely to be honoured. Gentlemen borrowers need not apply. I like the idea. Let me know if the queue of lady borrowers gets a bit long for you to handle. Link to comment Share on other sites More sharing options...
Ajarn Posted May 28, 2004 Share Posted May 28, 2004 The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction. Agreed, but in actual fact they are still a better (safer) bet than a goodly percentage of Thais. Maybe I am a slow learner but I would just love to get some of the thousands (hundreds of thousands) of Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off. At least thataways I can sleep better knowing that it was not a loan that is unlikely to be honoured. Gentlemen borrowers need not apply. I like the idea. Let me know if the queue of lady borrowers gets a bit long for you to handle. Here! Here! Link to comment Share on other sites More sharing options...
john b good Posted May 28, 2004 Share Posted May 28, 2004 The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction. Agreed, but in actual fact they are still a better (safer) bet than a goodly percentage of Thais. Maybe I am a slow learner but I would just love to get some of the thousands (hundreds of thousands) of Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off. At least thataways I can sleep better knowing that it was not a loan that is unlikely to be honoured. Gentlemen borrowers need not apply. I like the idea. Let me know if the queue of lady borrowers gets a bit long for you to handle. Here! Here! Maybe there are some good people here (on the forum) and your offers help out if the going gets too tough are an indication that this so. My faith has been restored somewhat. Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted May 28, 2004 Share Posted May 28, 2004 The lenders consider that unemployed foreigners are too portable. Any sign of problems and they go ex jurisdiction. Agreed, but in actual fact they are still a better (safer) bet than a goodly percentage of Thais. Maybe I am a slow learner but I would just love to get some of the thousands (hundreds of thousands) of Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off. At least thataways I can sleep better knowing that it was not a loan that is unlikely to be honoured. Gentlemen borrowers need not apply. I like the idea. Let me know if the queue of lady borrowers gets a bit long for you to handle. Here! Here! Maybe there are some good people here (on the forum) and your offers help out if the going gets too tough are an indication that this so. My faith has been restored somewhat. I love the sentiments. True friends will always lend a hand in circumstances like these. A friend in need ..... Link to comment Share on other sites More sharing options...
cutethaigirl Posted May 29, 2004 Share Posted May 29, 2004 Baht which I have loaned to some nice Thai people. I don't lend one satang now, with out some collateral or in the case of it being a female (and I get at least one plea for "help" meaning money a week) I tell them to happen by and work it off. JBG You may find money lending on the list of employments 'not open to aliens' Link to comment Share on other sites More sharing options...
maerim Posted May 29, 2004 Share Posted May 29, 2004 I love the sentiments. True friends will always lend a hand in circumstances like these. A friend in need ..... Well this friend always says (after kissing goodbye to loads of money) to a friend on the earhole. Two things happen when you lend money to friends. One is you lose your money, two you lose your friend as well. You on the other hand are too good a friend to lose,you get to keep your money and they get a backhanded compliment. Link to comment Share on other sites More sharing options...
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