Thread: DrAndy's Wife's New Project in the old city

Originally Posted by Dillinger

Hope you got a good price for it. Arent termites a right barstard to remove once in there ?

It's a daunting project, for certain, but if done properly (as I'm sure it will be) it will make two very nice apartments. I too thought termites were a real bitch to totally clear out, especially given the level of infestation you appear to have. Do you have to strip out all things wooden?

another cracking thread on the way, good luck mrs DR andy

Originally Posted by Jesus Jones

Are these projects easy to rent out? I'm assuming refurbished houses are not good for resale. Old spirits and all that!

My wife and I were looking to buy a couple of run-down town house as a project for sale or rent.

from what I have seen and heard, if you refurbish to a good standard then resale is usually no problem. Old spirits have nothing to do with it (you can have a house ceremony to get rid of them) but the nouveau riche Thai mentality of wanting everything new

Originally Posted by pseudolus

DrAndy, just out of interest when you turn these houses into flats, do the neighbours say anything? Do they care? So you need some kind of permission or anything?

If you want to be careful, you can inform the council of your plans and get a bit of paper - they will not stop the work unless they receive a valid complaint from a neighbour (like enroaching on their land by roof overhang etc)

My wife is an excellent diplomat and can pacify a mad dog

Originally Posted by Storekeeper

What city do you live in Dr Andy?

sorry, thought everyone knew, Chiang Mai

Good luck.
I would simply knock down the entire building. Build a fresh one. Then you have a brand new house for sale.

The person who was selling it said her sister wanted to do that

but that would be a different type of project

Prolly cheaper and faster to do a complete knockdown and rebuild a new house.

nope, much more expensive and slow; we hope to turn this house around in 2 months, and the cost will be around B200K for labour, maybe another B300K for materials

here are some pics of the land surrounding the house

this is the back garden; should make a nice patio for sitting and having a coffee



the rear wall and next door's plants, give privacy

this patio area will need some cover so that privacy from the apartment block is assured



The side passage; we will build a wall near the sticking up thing. That will give the upstairs flat a small sitting area too. The far end will be blocked by the new entrance




This is the upstairs rear existing patio. We will make this into a new kitchen with new walls and roof




this is the upstairs front patio; we will remove the existing wall with window and door, move it back to the sticking out corner and create a bedroom with new walls and roof.

the LHS window will become a door for access to the mini balcony



this is another view of the upstairs rear patio, to become a kitchen




and this is the front land area. We will remove that small wall on the RHS and put a new wall at the road edge. We can then put the tank and pump there

I will post some floor plans tomorrow, the old and the projected

^^It's a real knack to view crumbing chaos, and be able to clearly visualize the potential beneath. It's a knack that I found, when we built our house, that I don't have - at all. Fortunately my wife, who designed and built the house, does.

Best of luck to The MrsDrA and I'll be watching this thread too!

Same same doc, will be watching and hopefully learning something about building
in Thailand

Originally Posted by Davis Knowlton

^^It's a real knack to view crumbing chaos, and be able to clearly visualize the potential beneath. It's a knack that I found, when we built our house, that I don't have - at all. Fortunately my wife, who designed and built the house, does.

Hang on to her, Davis!

Looking forward to seeing a sows ear become a silk purse Pete. Sure it will be well done.

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

I would question how you know all of this when you do not know the purchase price, loan amount or loan costs. What you should know is that there does seem to be parking available.

How many renovations and rentals have you done?

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

So i take it Dr Andy the new Admin with all this backslapping going on

Did Thai builders ever use Asbestos for building materials ?

That was going to be my question. The corrugated fibro looks a bit toxic.

Originally Posted by Yasojack

So i take it Dr Andy the new Admin with all this backslapping going on

according to Crass, I am the new owner

kowtow!

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

You clearly don't know what Mr&Mrs Andy can do with a place like this. Wait and see, and you'll eat your hat. I am sure this building will be a success.

Tom

Originally Posted by liveinlos

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?

Maybe the rent is only intended to cover maintenance and repairs and the long term objective is appreciation of house and land.
The old city, CM is a good bet compared to 2 rai out in the sticks.