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BANGKOK 16 July 2019 23:08
Doronazl

Rental guaranteed from condo investments

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thinking of making my first investment , asking for inputs from the experienced in this matter.

the terms sounds rather good , 7-10% a year for 10-20 years.

I know there are risks to every investments, in this case , that the developer will declare bankrupt or simply run some sort of scam and run away with the money.

my question is i guess, would u recommend those investment in general ? 

what should i becareful from ?

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Posted (edited)

Be careful of scam artists. Do your due diligence. Talk to other investors that have experience with this developer.

Edited by Kasane
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if it's a condo can not do daily/weekly rent thus  better check with developer if they have hotel license and it would be suspicious to have 7-10% guaranteed income for 10-20 years... if it sounds to good to be true it probably is... also check with the foreign quota, is it freehold or leasehold, be careful of the developer and/or construction company, at the beginning they are the ones running the show as the management but sooner or later a new management will be in place and things can or will change... good luck

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10 minutes ago, Mavideol said:

if it's a condo can not do daily/weekly rent thus  better check with developer if they have hotel license and it would be suspicious to have 7-10% guaranteed income for 10-20 years... if it sounds to good to be true it probably is... also check with the foreign quota, is it freehold or leasehold, be careful of the developer and/or construction company, at the beginning they are the ones running the show as the management but sooner or later a new management will be in place and things can or will change... good luck

i do not plan on renting it out, only going for it for the rental payments

and yes im only referring to freehold

 

 

what can change if they change management later ?

 

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12 hours ago, Doronazl said:

my question is i guess, would u recommend those investment in general ? 

Never.

 

12 hours ago, Doronazl said:

what can change if they change management later ?

Not if, when. At some point co-owners will appoint an elected committee and a proper management company. Between them (and based on the building by-laws which are also decided on by co-owners at an initial meeting) they decide how the building will be run. If you dont understand how condos work then you should probably not be buying one.

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10 hours ago, KittenKong said:

Never.

 

Not if, when. At some point co-owners will appoint an elected committee and a proper management company. Between them (and based on the building by-laws which are also decided on by co-owners at an initial meeting) they decide how the building will be run. If you dont understand how condos work then you should probably not be buying one.

what i mean is , what terms can change that would affect me whenever the management company changes?

 

"If you dont understand how condos work then you should probably not be buying one"  - that doesnt help m8.

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1 minute ago, Doronazl said:

what i mean is , what terms can change that would affect me whenever the management company changes?

Anything and everything. New management could even go so far as to ban rentals entirely (unlikely, I admit).

 

2 minutes ago, Doronazl said:

"If you dont understand how condos work then you should probably not be buying one"  - that doesnt help m8.

Up to you. Any mistakes you make certainly wont cost me anything.

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1 minute ago, KittenKong said:

Anything and everything. New management could even go so far as to ban rentals entirely (unlikely, I admit).

 

Up to you. Any mistakes you make certainly wont cost me anything.

but if i go with their rental payments plan, that contract is binding isnt it ? even if they wont rent it out for any reason, thats not my problem

or im understanding this incorrectly ?

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23 hours ago, Doronazl said:

i do not plan on renting it out, only going for it for the rental payments

and yes im only referring to freehold

 

 

what can change if they change management later ?

 

kitten kong give you the perfect answer

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4 minutes ago, Doronazl said:

but if i go with their rental payments plan, that contract is binding isnt it ? even if they wont rent it out for any reason, thats not my problem

or im understanding this incorrectly ?

we are talking about Thailand... binding contracts from a construction company, humm!!! good luck

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3 minutes ago, Destiny1990 said:

I think It is guaranteed that a 100% rental guarantee doesn’t always mean its guaranteed.

100% correct 555

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Just now, Mavideol said:

100% correct 555

But on a positive note that Norway group in Pratumnak been giving rental guarantees for over 10 years now haven’t seen much complaints from unit buyers about them but it’s mostly on their thai company units..

 

 

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4 minutes ago, Destiny1990 said:

But on a positive note that Norway group in Pratumnak been giving rental guarantees for over 10 years now haven’t seen much complaints from unit buyers about them but it’s mostly on their thai company units..

 

 

it will happen, wait and see...

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