Property development suggestions

[Bruno]

What is the consensus amongst you with regards to buying, renovating, and renting out property in Thailand?

Most are probably aware that this is a popular and very worthwhile occupation to do back in the UK - and no doubt other Western nations - however, Thailand is not the UK...

[Bangyai]

A bit risky here but if you do all the work yourself and use anything you buy as a home whilst renovating you might squeeze a little profit out of it. You really need to do a lot of research on local prices first though before taking the gamble.

[baby maker]

The market here in Nonthun Khon Kaen where we live is about 2500 baht per month for 24 sq mtrs....this the basic idea. You may improve it by offering extras inter net, air con....but not by much. House and town houses are renting for 5000 per mth....top at 8000.

To build from scratch the construction companies are asking 8000 per sq mtr...
on a cost analysis it looks to be around 5000+ per sq mtr if you are able to do it your self, with labour....have been at it for over a year now and may be able to break ground in September with the first of two projects....total of sixty rooms...the first attempt twenty rooms...565 sq mtrs...four floors.

To get this far it has been a huge learning curve....there is as we all know no such thing.....as morals, ethics or honesty....
even a work ethic is considered an unreasonable ask.

Those who do it professionally will tell you this is all bollocks....gloss over the problems to get the contract....and then reveal the problems to your added expense during construction.

The same labour force is available to you as is to the big companies....so many Thai and some farang do it themselves....the Tesseban is the key.... their approval.....and it can be done.

[liveinlos]

don't forget when the thai tenants move out, there goes the air conditioner, light fixtures, sinks and anything else that isn't part of the main structure!

[koman]

My answer to the OP's question is always: "Don't even think about it"...

I bought a completed house ready to move into...except it had no kitchen, so I get recommendations, tender out the work and award the job to supposedly the best guys in town. Result; three weeks of chaos, fuckups and material wastage that must have been 40% or more. Just about every job had to be done over 2 or 3 times before it was acceptable. Six months after completion I discovered that they had the electrical wires for the oven routed within an inch of the gas line and connected with the usual twist covered with an inch of black tape...you just can't monitor everything however hard you try. That was a kitchen...I can't imagine building a whole house or a commercial building...but for those with surplus cash, absolutely nothing to do and enjoy life threatning experiences...go for it... A liberal supply of valuim would be another recommendation..

[baby maker]

......but for those with surplus cash, absolutely nothing to do and enjoy life threatning experiences...go for it... A liberal supply of valuim would be another recommendation..

.....fully endorsed the post by koman....especially this bit above.....

in my case...LEO is taken rather than Valium.....large quantities of LEO....but one can see how it is possible to advance to Master Builder.... and progress to Valium....