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BarrieSawadee

Will I have enough to Live in Udon Thani with this

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Much better to keep your house in the UK. Find a reputable Estate Agent, who will manage your property for between 5%-10%. There are some who guarantee no voids and pay you every month, whether or not there is a tenant, however, they will charge more for this service. The upside is that you know you are getting £x rental income every month and the agent's fees are tax deductible.

You obviously don't need the capital at this stage of your life, with the figures you have mentioned, and house prices in the UK are starting to rise. Makes more sense to have a regular rental income and a steadily appreciating asset that will be worth much more should you ever need to sell in the future.

With your house valued at £110000 and a rental income of £4600 (that seems very low?) you would be grossing 4.18%.

Good luck with whatever you decide to do.

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No GF not Working Possibilities with earning some Extra Income though.Extremely Low Maintenance She always has been and that`s Living in the UK as Well.Just worried about Problems with Renting out accommodation and having it Vacant at all.

I think that We could Probably get by on Interest alone it`s just obviously a long Term thing without really knowing the Future Economy Etc.

I know I am just Wanting Christmas to come early and all and I really don`t expect to return back to the UK to live again biggrin.png

Thanks for Your reply though

Cheers

Barrie

I tried renting my house in the UK for around 25'000 baht per month, using an agent.

It was a bloody nightmare, tenants lasted about one year not because of the house but divorce , being sent to jail, in five years I had to fly back six times to sort the mess out, clean up the house, the last tenant stripped the house before vacating, curtains plus the runners all Venetian blinds all garden tools, all the house keys, even the fixed to wall mirror in the bathroom.

The agency claimed they did not have any proof of what was in the house as their employee who did the inventory had left their employment, of course I had pics and could have sued them and won damages but I live in Thailand so how the hell could I do that, I bit the bullet and sold the house at a loss.

The house was in a very popular coastal town two hundred yards from the beach. Bridling ton.

Sell the house no way to be a long distance land lord, I have yet to extract my revenge on this individual but I can assure all readers it will come to pass..

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Use a decent agent

I've got 2 flats i rent in UK

No tenant issues, agent inspects every 3 months, rent unfurnished other than kitchen white goods

Yeah, problems occur & being in Thai would be more difficult

I rented my house in Thai & that was a nightmare

Vice versa

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You can't get a land lease of your wife

What do You mean exactly

I am under the understanding that I could lease it for 30 Years off Her with the added Memo that if the Laws change then I could be entitled to half I don`t care about the other half bit the Lease I do though biggrin.png

Is it the Term Wife that is the concern or ?

Cheers

Barrie

A 30 year lease with a wife is not secure, it can be broken, far better to leave ownership of the land in the wife's name and take out an usufruct.

Your wife can borrow money on the land title deed, she does not repay the loan and the bank re possesses it, you are kicked out as a lease means nothing, you do not have a lease with bank who now own it.

Advise from my lawyer , a usufruct is the only way to go.

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B250000/yr Gross rental income...less taxes, repairs to house,

Possible vacant several months/year ....more realistic annual

Income=B160000/year...divide by 12 months. 13,333/month.

£20000 need for emergency, travel home,medical. Leaves

£120000 for entire savings....U R 45 ...why would anyone

Want to retire and lose out on the most productive income

Earning years of their life (45-60) ? You will live like a peasant

Even in Thailand with that little money that has to last 30-40

years. Even with a conservative 4% return on your savings

You need a lot more money.

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A few points:

1/ The income which you're proposing isn't enough to live comfortably on. You could live on it, but you wouldn't be "comfortable" and you'd likely end up dipping into your savings/nestegg when "special occasions" come up like holidays or medical problems etc.

2/ If you were to try and do this anyway, you'd likely be better off keeping the money in a combination of stocks & property to spread your risk. Don't put money in the bank, as money depreciates over time and interest rates are usually only less than or equal to inflation. By comparison stocks/property go up with inflation.

3/ The consistency of rental income depends on the area. Best plan is to spread your risk over multiple properties if you're reliant on it.

4/ you could potentially subsidize your cost of living by teaching English at a local school. A bachelor degree would assist with this, it'd be worth enquiries to see if this is an option or not.

4/ If you were able to teach, you could live off that and reinvest your 40k into another property with the 2x properties then repaying the mortgage. This could then be your long term (10+ years) plan. However if you did the same thing, while working in the UK, you'd likely be in a much better financial position, at a much earlier point in life (e.g. If you brought another 100k property with the 40k, and could repay 2k+ capital per month, you'd have 2x fully paid off properties within 5 years. Which would mean double the rental income, and a lot better financial position, from there a 3rd/4th property could be paid off even faster due to the increased rental income).

5/ If you're thinking about having kids, then you need even more money. As you'd want the best for them.

6/ If you're not working, you'll need more money than if you are working. As you'll have so much free time that you'll get bored, and curing boredom can be expensive (depending on what type of person you are).

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Hiya I am not avoiding answering some of the more recent posts I have just been up to My neck in stuff at the Moment

I think that this would still be relevant within this Topic

I have asked the following question to some Solicitors in Udon Thani

Good Morning

My name is Barrie Dix and I am currently Living with My Thai Girl Friend in the UK and have been doing so for the past five years

We have just put a 25000 THB deposit on 3.5 Rai of Land 20 KMS outside Udon Thani the remaining 925000 THB We are paying in full in October

Ok My questions are

1 Could You please give Me a quotation for overseeing the whole deal as in checking the Chanote/Measurements coming to Amphur and whatever else is required

2 I will be requiring either a 30 Year lease on the Land on the day of purchase or a Usufruct.A bit of advice is needed on this one if You could Please

Also would You advise Marriage before or after Land purchase ?

All of this I am hoping can all be in place for early October as We are in the country for a week then

If You could give Me Your thoughts on the above Please it would be greatly appreciated

Thankyou for Your time

Warm Regards

And the following is the answer from one of them

Hi,
We would advise you to make a transfer before marriage and do a 30 years lease with options to renew.
A usufruct can also be done, but might be more difficult in Udon.
Our fees would be 35,000 baht all included. Legal advice, 4 documents including a lease, an addendum, a receipt and another document to protect the renewal. It includes contracts in Thai and English.
We will also check the title deed and send a lawyer for the transfer and registration.
Regards,

Is this a fair price and is this good advice regarding the 30 Year Lease and the Usufruct

Cheers

Barrie

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It's a lot in Isaan.

But, if you're happy

I would seek other quotes as you probably would done the UK

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Why is a usafruct difficult in Udon? Or is it more than they can do?

Get other quotes as suggested as "some" Lawyers in Thailand are criminals in suits. I am not saying your choice is like that and I hope they come from recommendations.

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^^^^, Unbelievable, why is it these guys who dont live here or speak the language know better than those who do.

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^^^^, Unbelievable, why is it these guys who dont live here or speak the language know better than those who do.

What have I done now sad.png

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Why is a usafruct difficult in Udon? Or is it more than they can do?

Get other quotes as suggested as "some" Lawyers in Thailand are criminals in suits. I am not saying your choice is like that and I hope they come from recommendations.

Hiya

I know that's why I posted it why would Udon be harder I am baffled ?

The advice is from Issan Lawyers who I heard were quite good even though I did expect a high price

Not sure if that is a high price or not I will go searching tonight though

I am waiting for three more quotes as well

Cheers

Barrie

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^^^, sorry mate no offence meant, it would appear there are now two diiferent threads running on one, its kinda hard to keep up with what Barrie said what.

This is who you need to speak to.

http://www.tilleke.com/

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