Is this a good time to buy a Condo?

[Leaver]

23 minutes ago, how241 said:

Say they  DON'T  do any of the things you are suggesting. 

But they can, because it's currently is the law.

 

23 minutes ago, how241 said:

BUT I find most times the available corruption works for me, not against me.

Until someone pays to have it used against you.

 

Or, simply gets their friends together to give you a beating one day.  Then it's only 500 baht and a wai, while you are in hospital for 6 weeks.  ????  

 

23 minutes ago, how241 said:

It's nice to have the option to pay a small 'fee'  and have your problems quickly go away. 

Yes, but it depends on who is paying the fee.  Maybe you are the problem that someone else needs to pay a fee to fix.  Maybe you can be arrested for working illegally, if someone pays a fee.  Like western laws, it can work for both sides. 

 

Continue scrapping around the low rent properties and low rent people living in them.  I don't envy you at all, and I don't think its good business.  A lot of risk for little reward. 

 

I don't have to engage in that type of business, or any business, for that matter. I'm retired.  My investments are safe under established laws, and in countries that have a rule of law, and in countries I can own the property 100% in my name, and not have to even consider what the government CAN do tomorrow to pull the rug out from under me, let alone, cruel the property market for foreign investors.  

 

Sorry to tell you, you will not be able to sell, and will soon lose your tenants. 

 

 

Edited March 27, 2020 by Leaver

[how241]

4 minutes ago, Leaver said:

But they can, because it's currently is the law.

 

Until someone pays to have it used against you.

 

Or, simply gets their friends together to give you a beating one day.  Then it's only 500 baht and a wai, while you are in hospital for 6 weeks.  ????  

 

Yes, but it depends on who is paying the fee.  Maybe you are the problem that someone else needs to pay a fee to fix.  Maybe you can be arrested for working illegally, if someone pays a fee.  Like western laws, it can work for both sides. 

 

Continue scrapping around the low rent properties and low rent people living in them.  I don't envy you at all, and I don't think its good business.  A lot of risk for little reward. 

 

I don't have to engage in that type of business, or any business, for that matter. I'm retired.  My investments are safe under established laws, and in countries that have a rule of law, and in countries I can own the property 100% in my name, and not have to even consider what the government CAN do tomorrow to pull the rug out from under me, let alone, cruel the property market for foreign investors.  

 

Sorry to tell you, you will not be able to sell, and will soon lose your tenants. 

 

 

OK...You may be right about some of what your posting.  I am retired also and only do this to give my Thai lady something to do and let her make some money. Nothing is in my name and any real problems, if they occur,  would be directly handled by her.  I also have a large percent of my investments located  outside of Thailand,  for the reasons you have already described.  One good thing about the rental game here is the monthly carrying costs are very low. Nirun charges 300 baht monthly.  Unlike the UK  or USA where you have large tax bills, insurance, and costly upkeep,  you don't really lose much money if your condo sits empty. Of course,  you don't make any money either...haha

Good luck to us all in our future investments and MOST importantly

            STAY HEALTHY !!!

[Leaver]

11 minutes ago, how241 said:

OK...You may be right about some of what your posting. 

Actually, a lot of what I am posting. ????

 

12 minutes ago, how241 said:

Nothing is in my name

Ohhhh, that's wise.  ???? 

 

I prefer to rent my Thai women as well.  ????

 

13 minutes ago, how241 said:

I also have a large percent of my investments located  outside of Thailand,  for the reasons you have already described. 

So now you are agreeing with me.  ????  

 

14 minutes ago, how241 said:

One good thing about the rental game here is the monthly carrying costs are very low.

I agree.

15 minutes ago, how241 said:

you don't really lose much money if your condo sits empty.

But with other investments, the money is working 24/7.  That's why one must have diversified investments.

16 minutes ago, how241 said:

Good luck to us all in our future investments and MOST importantly

            STAY HEALTHY !!!

Well said. 

 

We ALL may need some luck in the near future. 

[how241]

24 minutes ago, Leaver said:

Actually, a lot of what I am posting. ????

 

Ohhhh, that's wise.  ???? 

 

I prefer to rent my Thai women as well.  ????

 

So now you are agreeing with me.  ????  

 

I agree.

But with other investments, the money is working 24/7.  That's why one must have diversified investments.

Well said. 

 

We ALL may need some luck in the near future. 

In one form or another,  we all rent/pay for our women. 

I hope a side effect of this virus/global meltdown is a return of decent interest rates on savings.  I would be perfectly happy to have my money sit safely in a insured USA bank if they go back to paying 5% or more.  Being we are talking about Thailand, I would never recommend putting more than 15-25%  of your money here.  The percent of money I would invest in Thailand is part of my 'higher-risk' portion of my portfolio.  Although I like Thailand and have enjoyed the past 11 years here, lately I have been thinking of trying out somewhere different. I liked Vietnam when I visited there.  Maybe a South American country.  Maybe Portugal.      I'm lazy so I probably won't go anywhere.

 

[Leaver]

12 minutes ago, how241 said:

Being we are talking about Thailand, I would never recommend putting more than 15-25%  of your money here.  The percent of money I would invest in Thailand is part of my 'higher-risk' portion of my portfolio. 

On that basis, and in the present climate, why would anyone consider transferring to Thailand any more than monthly living expenses? 

 

Don't think that Lehman Brothers couldn't happen to a bank in Thailand.  It could. 

 

Thai banks are exposed here, and probably over leveraged, and I can't see any bail outs from the guys in Bangkok, who have most likely moved their money offshore, so why not keep your money offshore, like they do?

 

https://thethaiger.com/hot-news/economy/thai-household-debt-hits-all-time-high-of-340k-baht-per-house

 

Edited March 27, 2020 by Leaver

[newnative]

2 hours ago, how241 said:

Again,  your missing the point.  It is  NOT about the lost of rent money or unpaid utilities, BUT  the legal fees and court cases that can drag on for years.  My UK renter house/squatter case went on for years and costs him Thousands of pounds, just to reclaim HIS OWN HOUSE...and you like laws...haha...I had a nice man say in my condo for several years.  He had to fly back to UK  as the people who were renting his house stopped paying for a long time.  He had to hire a lawyer who told him he must fly back and live in his house OR  he runs the risk of LOSING  his house under the 'squatters law'...There was more to this crazy story BUT the bottom line is he lost a LOT of money, with unpaid rents, unpaid utilities, lawyers fees, airplane tickets.  Strange that there are people on this board that think their home country, with laws that can be used against him, is better or safer than Thailand.  I can call security or the police and have some removed for a 500 baht tip, and they will be gone in 1 hour.  I have seen this done several times by friends of mine that rent out places.  The crazy laws and crazy high priced lawyers is why I stopped doing real estate in the USA.  Thailand is 1000% better, in my opinion.

   My sister had the same problem with one of her rentals in America.  Tenant was in the Army and went AWOL to Canada.  My sister had to hire a lawyer. Finally got a court date.  Tenant did not show up--obviously--so judge postponed the hearing and set a new date.  New hearing, still no tenant, my sister finally got permission to re-rent the condo. The whole process took about 6 months.  No rent coming in for 6 months plus the lawyer's fees.  Ridiculous system. 

[how241]

3 minutes ago, newnative said:

No rent coming in for 6 months plus the lawyer's fees.  Ridiculous system. 

Yes it is.  The system gets 'played' by the bad people and good people have to lose money and suffer.  Lots of lost time and aggravation while the lawyers are laughing all the way to the bank.  In the USA,  it is almost impossible to do anything without a lawyer and they are never cheap.  No more USA real estate rentals for me. Unfortunately,  the bad guys and greedy lawyers have won.

[chrisandsu]

45 minutes ago, newnative said:

   My sister had the same problem with one of her rentals in America.  Tenant was in the Army and went AWOL to Canada.  My sister had to hire a lawyer. Finally got a court date.  Tenant did not show up--obviously--so judge postponed the hearing and set a new date.  New hearing, still no tenant, my sister finally got permission to re-rent the condo. The whole process took about 6 months.  No rent coming in for 6 months plus the lawyer's fees.  Ridiculous system. 

In the once great city of Seattle you can now not kick anyone out over the winter months . Yep 6 months of no rent . Socialism gone nuts . Personally I would have their door off and stuff on the street  in 24 hours .

[how241]

1 minute ago, chrisandsu said:

In the once great city of Seattle you can now not kick anyone out over the winter months . Yep 6 months of no rent . Socialism gone nuts . Personally I would have their door off and stuff on the street  in 24 hours .

Yes, I agree with you but if you did take those actions, YOU might find yourself in jail and needing to hire a expensive lawyer just to regain your freedom.  Totally crazy system.  Good system for the criminals.

[how241]

8 minutes ago, chrisandsu said:

In the once great city of Seattle you can now not kick anyone out over the winter months . Yep 6 months of no rent . Socialism gone nuts . Personally I would have their door off and stuff on the street  in 24 hours .

All of a sudden, Thailand doesn't look so bad after all.  haha

[chrisandsu]

22 minutes ago, how241 said:

All of a sudden, Thailand doesn't look so bad after all.  haha

Could always rent in Seattle ????