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

**nigelandjan** · 25-01-2013, 12:45 PM

Good luck with it all Doc ,, missed the start of this one ,, have caught up now though .

Allways good to see a build thread , new or renovation ,, for sure DD enjoyed these.

Fingers crossed will be doing my first one in October this year

**Sailing into trouble** · 25-01-2013, 02:10 PM

God I wish I had the ability to take on a project like that. Last summer spent 10 days redoing an 5ft by 10 bathroom. lol great thread.

**DrAndy** · 25-01-2013, 02:55 PM

Originally Posted by Sailing into trouble

I wish I had the ability to take on a project like that. Last summer spent 10 days redoing an 5ft by 10 bathroom

yes, but you could probably sail around the world; I can never get out of port

**hillbilly** · 25-01-2013, 05:02 PM

We have been asked to buy several townhouses here in BKK in pretty much the same shape that Dr. Andy has shown.

Unless the asking price is dirt cheap it is hard to make any money.

To rent a town house for B6000-10,000 per month (just guessing) by splitting it into two homes takes forever to recoup the money to make money. Unless you are thinking about the the Dr. Andy offspring. Even then, it will take some time.

Just my opinion and good luck!

**draco888** · 25-01-2013, 06:43 PM

Return on capital invested rather than 'recouping' the money invested is the usual way to view projects such as this I would have thought. Although if it were possible to recoup the money and retain the asset that would of course be welcome

Originally Posted by hillbilly

We have been asked to buy several townhouses here in BKK in pretty much the same shape that Dr. Andy has shown.

Unless the asking price is dirt cheap it is hard to make any money.

To rent a town house for B6000-10,000 per month (just guessing) by splitting it into two homes takes forever to recoup the money to make money. Unless you are thinking about the the Dr. Andy offspring. Even then, it will take some time.

Just my opinion and good luck!

**DrAndy** · 25-01-2013, 07:28 PM

^ true

my maths

12,500 a month (low figure) x 2 = 25,000 x 12 = 300,000 a year

8 years later 2.4 million + capital appreciation

of course things don't always go smoothly and the apartments could be empty occasionally

but it looks good to me

Originally Posted by hillbilly

by splitting it into two homes takes forever to recoup the money to make money

so not really, 8-10 years max, and you still have the asset

and there is always the option to sell on the completed project, or let someone else run it for an annual fee equivalent to 70% of projected earnings

**DrAndy** · 26-01-2013, 12:41 PM

well

they have knocked a nice hole through the wall for the private entrance to the upstairs flat, it will probably be a little higher and arched

and another hole to put some glass blocks in for extra light

The front of the house almost gone!

the LHS is a door to a small balcony (which was inaccessible previously, thus leading to a build up of rubbish blocking the water escape and hence causing some of the damp)

closing up the bedroom door and a wall in the kitchen where the fridge will sit

The plumber and electrician are cutting channels all over the place

**laymond** · 26-01-2013, 02:15 PM

any female labourers on site doc?? a few piccies would be great.

**nigelandjan** · 26-01-2013, 03:08 PM

^ or even some pics of the new owner , surveying her new pile

**DrAndy** · 26-01-2013, 04:23 PM

Originally Posted by laymond

any female labourers on site doc??

yes, very chunky, I will try to get one for you!! (pervert)

Originally Posted by nigelandjan

or even some pics of the new owner , surveying her new pile

well, if I posted her pic some stalker would come along, and with the kind help of another old hag member, attempt to insult her

forums eh?

**Yasojack** · 26-01-2013, 05:50 PM

Your lucky Andy, workers getting on with the job, throw them my way when your finished with them

**Dillinger** · 26-01-2013, 05:54 PM

What made you decide to turn it into 2 flats, rather than leave it as a house Andy ?

That was a nice little sun trap on that balcony.

I have one similar in Bangkok, it is a lot bigger though and 3 bed, but when I am in that house, I spend most of the time on the balcony, especially of the evening, when you get a nice breeze.

Out there I have an overhead fan, a stone table and chairs(with chessboard(OK draughts) paddling pool, sun lounger, mosquito bat and beer fridge.

Ive wrote some of my finest Teakdoor posts on that balcony

**Dillinger** · 26-01-2013, 05:58 PM

Oh the other great thing about that balcony, is that there's a tower block at the end of the Soi.

Some tasty birds come out of there all tarted up around 6PM, on there way to Cowboy and Nana I reckon

**Chairman Mao** · 26-01-2013, 07:20 PM

Originally Posted by Dillinger

I spend most of the time on the balcony, especially of the evening, when you get a nice breeze.

Out there I have an overhead fan, a stone table and chairs(with chessboard(OK draughts) paddling pool, sun lounger, mosquito bat and beer fridge.

Gotta agree, we've got a BBQ on our main balcony as well and it's perfect.

Or almost perfect.

The balcony on my old BKK Condo was looking over the pool that usually had a small bevy of Japanese GF's and mistresses frolicking in.

**DrAndy** · 26-01-2013, 07:23 PM

Originally Posted by Dillinger

What made you decide to turn it into 2 flats, rather than leave it as a house Andy ?

this is not a personal dwelling but a business project

more rent from 2 flats

Originally Posted by Dillinger

That was a nice little sun trap on that balcony.

just what you need in the tropics

**DrAndy** · 26-01-2013, 07:25 PM

Originally Posted by Yasojack

Your lucky Andy, workers getting on with the job, throw them my way when your finished with them

yes, the boss is a really nice guy too, he cares what he does and has made a couple of excellent suggestions

**benlovesnuk** · 27-01-2013, 04:37 AM

I think its interesting, Im not sure about your rent estimates being on target. But its good to see old houses being renovated and chiangmai being done out as it seems to more and more.
I know rent has gone up, and I dont doubt you could rent for the price I just think you might find it hard to keep that rental being achieved.
I suppose it depends on the finishes and marketing of such a project.

Im thinking of getting a shophouse near phra singh but using it for business purposes, there are still plenty of offers to be had in the centre in you can read thai and know the right people(in need of a quick sale).

I look forward to your pictures. best of luck.

**DrAndy** · 27-01-2013, 07:16 AM

Originally Posted by benlovesnuk

Im not sure about your rent estimates being on target.

me neither but I know how much I can get for a smaller one bed apartment

and this is in an even better location

Originally Posted by benlovesnuk

I just think you might find it hard to keep that rental being achieved.

You mean in the future?

who knows what the future holds, but the property boom and demand for flats has kept growing; There is probably another five years left before things slow down. If they build the high speed railway, that may be a low estimate

**benlovesnuk** · 28-01-2013, 02:47 AM

I understand what your saying, im sure youve done some reserach.

I think Chiangmai is a city for the future, thats why I live there. many People cant get mortgages to buy and rental will keep growing. I wish you guys every success, and if it works I might be keen on your heels.

I dont doubt your prices for the future, but I think for the first 2-3 years it might be hit and miss. Chiangmai is still growing, and there are a lot of new places being developed.

bring on the photos.

**snakeeyes** · 28-01-2013, 04:13 AM

Great topic , looking forward to seeing the finished project , Thank you ,

**DrAndy** · 28-01-2013, 07:17 AM

Originally Posted by benlovesnuk

I wish you guys every success, and if it works I might be keen on your heels.

oh dear, competition

people like you will make the bubble a reality!

Originally Posted by benlovesnuk

but I think for the first 2-3 years it might be hit and miss. Chiangmai is still growing, and there are a lot of new places being developed.

might be. Most of the new places being developed are outside the city, in places like Nimm, or even further, their location being blurred by their marketing

inside the city, there is little land for proper development and what there is has become very expensive

**Dillinger** · 28-01-2013, 07:46 AM

Whats the timeline on this project then Andy ?

**DrAndy** · 28-01-2013, 08:16 AM

now I have to edit my post as my reply to his post makes no sense

well, Dill, we hope to complete the main building works in about 2 months

**laymond** · 28-01-2013, 04:45 PM

Originally Posted by DrAndy

Originally Posted by benlovesnuk

I wish you guys every success, and if it works I might be keen on your heels.

oh dear, competition

people like you will make the bubble a reality!

Originally Posted by benlovesnuk

but I think for the first 2-3 years it might be hit and miss. Chiangmai is still growing, and there are a lot of new places being developed.

might be. Most of the new places being developed are outside the city, in places like Nimm, or even further, their location being blurred by their marketing

inside the city, there is little land for proper development and what there is has become very expensive

yes,theres always a gunner peeping over the fence.good on you doc,hope its a winner for you and the bride.

**benlovesnuk** · 28-01-2013, 08:34 PM

Originally Posted by DrAndy

Originally Posted by benlovesnuk

I wish you guys every success, and if it works I might be keen on your heels.

oh dear, competition

people like you will make the bubble a reality!

Originally Posted by benlovesnuk

but I think for the first 2-3 years it might be hit and miss. Chiangmai is still growing, and there are a lot of new places being developed.

might be. Most of the new places being developed are outside the city, in places like Nimm, or even further, their location being blurred by their marketing

inside the city, there is little land for proper development and what there is has become very expensive

Not competition, i still need to finish the house and you know how long that has taken.
I would like a property in the centre but for our business's. Renting out is just an easy function because of the amount of levels these town/shop houses have.

There seems a few places, and as you say not so many people filling this area.

Anyway good luck!

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

Thread Tools

Display

Thread Information

Users Browsing this Thread

Posting Permissions