Originally Posted by
liveinlos
Well someone has to state some truths here instead of all the Donald Trump I am going to be a millionaire landlord, backslapping going on.
This place is a dump by even Thai standards with a huge amount of renovation required and cost.
I don't think any Thai not married to a farang would ever, and I mean ever, take an attempt on this place as it appears to have been empty for a long time to prove my point
Looking at the location and the size, I fail to see how this place will ever generate income?
The rent for something like that must be well under 5,000 thb per month, I would guess 2,500 thb so times two that would be mean 5,000 thb per month income?
I am sure if any of the neighbors are renting they are not paying more than 2,500 thb per month. Look at their old motorbikes, cars, and junk as evidence of the quality of the neighborhood
Even at 5,000 thb rent per month, which I honestly do not think you will get in this area of run down block houses, the 10,000 thb per month probably cannot service the loan unless the place was bought for almost nothing do to the poor condition?
No amount of interior renovation jacks the rent up if the surrounding area is run down and low cost which appears to be the case here
The type of tenants that rent these places are questionable at best, often removing fixtures and anything else they can upon eviction for not paying the rent
Allot of money will be spent to make this place livable and the rent amount cannot sustain the cost plus loan cost in my opinion
As mentioned I would be worried that the area only attracts tenants you won't be happy dealing with after they decide not to pay which happens ALL the time in areas like this
No one ever gets Park Avenue prices in the ghetto no matter how nice the renovations may be
The fact there is no view, no parking or anything else and sandwiched right next to a huge apartment block of more low cost dwellers would make this investment probably not a smart one
If you think low cost renters (thai) are a safe investment, I would have to seriously question that