Thread: Building a mini-resort in Phuket - The Country Resort

Nobody's fault. If we should not post on a thread it should be closed. People unhappy with it can go F themselves, especially Switchdick

Having come across this old (but interesting) thread, I thought it proper to update all with what became of this 'Country Resort'. Bear in mind that I had no financial interest or share of this property. I helped to construct the property in return for a building fee.

I can't recall the exact dates, but at some time maybe around 2017 (not sure), mad ex #2 said it would be a good idea to actually buy the land that the hotel is built on, rather than renting the land on a long-term (20 years) lease. The land owner (a male friend of my ex, probably doing jig a jig), was happy to sell the land to her.

I also though the asking price and general plan was a good, long-term plan, but it would need a bank loan to buy the land. Based on the average profits each month, I was able to advise the ex that on no account should she agree to a monthly mortgage repayment that was more than XXX baht. (I can't remember the actual amount, maybe about 45,000 baht).

As she and the land owner went off to the bank, my last comments to her were 'Remember, no more than 45,000 baht per month'

A few hours later she returned, smiling and announced that she was now the proud owner of the land where her profitable small hotel business was located.

'Great news' I said. How much do you have to repay each month?

'90,000 baht' was her reply

'Well, you are absolutely fcuked then, and your hotel business will fail within 1 year.......'

And so it came to pass. Unable to afford the monthly repayments on the loan from the bank, the land was repossessed by the bank (of course, with all the hotel buildings etc). The property was sold to someone who converted it into long-stay rental rooms for Thais.

As for the ex, I think she is shacked up with a Thai policeman. I can find out more because I will go to my Thai son's high school graduation next week in Bangkok and no doubt she will be present.