Farang Land Owners To Be Deported From Thailand

**Tom Sawyer** · 03-07-2011, 01:48 PM

Originally Posted by FailSafe

A man who knows what he's talking about because he's 'been there, done that'.

Man are you hostile to anyone who uses reason rather than emotion in discussing real estate. Are you an estate agent or something?

**Tom Sawyer** · 03-07-2011, 01:43 PM

I've never understood why anyone (other than leasing from your spouse) would agree to the leasehold "purchases" that are alternatively offered farangs in resort areas (and Bangkok).

Effectively they are paying "rent" - but they're paying it all at once and all up front.

If you really insist on ownership, then buy a condo. They are overpriced, but perhaps not so bad if you've cashed in on over-inflated Western markets (ebfore the crash in some places). That way you get the freehold.

Why people insist on trying to skirt around the property laws of Thailand when there is so much to lose (for most people) if they change the retirement income visa requirements or other rules is beyond me. Just rent. It's cheaper and you have much more flexibility

The price-to-rent ratio here is a clear indicator of why renting is better. In Bangkok (and places like Phuket), a three bedroom condo will cost you around 12-14 million baht, a 'decent' house and land (that you will never "own") is around 30 million. So 500,000 - 1,000,000 USD.

If 70,000 USD is the average western income (I'm being generous I know) that's between 7 and 14 times earnings. Most people shouldn't be buying anything more than 4 times earnings - and a bank would not likely lend you money on anything more than that anyway.

To rent a similar place it would be around 60,000 - 120,000 THB (2,000 - 4,000 per month), but you can easily get something big (but maybe not really modern) in a good location for far less (like 30,000 - 60,000).

In other words you could rent for 20 years - and invested your money in property or anything else back in your own country to finance your lifestyle.

**dirtydog** · 03-07-2011, 01:47 PM

Originally Posted by Loy Toy

The lease has to be prepared in triplicate, in both Thai and English

Originally Posted by FailSafe

A man who knows what he's talking about because he's 'been there, done that'.

Not quite, the lease can be in Thai or English, only one will be accepted in a court of law, that will be the Thai one unless it states on both that English is the governing language.

**Loy Toy** · 03-07-2011, 01:49 PM

Originally Posted by Tom Sawyer

Effectively they are paying "rent" - but they're paying it all at once and all up front.

I paid 3,000.00 Baht up front and when my wife put my name on the chanoit as the lessee plus 5,000 Baht legal fees.

Foking cheap as chips I reckon covering 30 years rent for the family home.

**Tom Sawyer** · 03-07-2011, 01:57 PM

Originally Posted by Loy Toy

Originally Posted by Tom Sawyer

Effectively they are paying "rent" - but they're paying it all at once and all up front.

I paid 3,000.00 Baht up front and when my wife put my name on the chanoit as the lessee plus 5,000 Baht legal fees.

Foking cheap as chips I reckon covering 30 years rent for the family home.

To each his own of course. But 30 years of rent (paid in advance) is a foking long time - and 3,000,000 THB would buy you a lot of chip butties along the way.

**nigelandjan** · 03-07-2011, 01:51 PM

Originally Posted by terry57

ee..... This is scary. How about Mrs buying land and then leasing back to me for 30 years? Co-own house? How safe is that? That's extremely safe

Not really safe at all ,,infact if what is proposed IS passed then surely a lot of the wives would loose it all anyway being unable to substanciate where she obtained the money from to begin with ie . husband ,,,,,,,,,, but pretending it was,nt his money .

**Loy Toy** · 03-07-2011, 01:52 PM

Originally Posted by dirtydog

Not quite, the lease can be in Thai or English, only one will be accepted in a court of law, that will be the Thai one unless it states on both that English is the governing language.

Quite right, but the Thai contract has to have a disclaimer stating that an English version is on offer upon request. This is generally the case when a foreigner is involved in a lease agreement.

**Tom Sawyer** · 03-07-2011, 01:52 PM

Regarding the 30 year lease from your spouse, especially for the old boys who like to retire up to tilac's village and build a big house there next to brothers Jethro and Skinnard, bear in mind that if your relationship breaks down - are you REALLY gonna want to keep living there, sleeping with one eye open every night?

Didn't think so.

**terry57** · 03-07-2011, 02:05 PM

Originally Posted by Tom Sawyer

retire up to tilac's village and build a big house there next to brothers Jethro and Skinnard.

**good2bhappy** · 03-07-2011, 01:54 PM

gamble what you can afford
to lose

**Loy Toy** · 03-07-2011, 01:56 PM

Originally Posted by Tom Sawyer

Regarding the 30 year lease from your spouse, especially for the old boys who like to retire up to tilac's village and build a big house there next to brothers Jethro and Skinnard, bear in mind that if your relationship breaks down - are you REALLY gonna want to keep living there, sleeping with one eye open every night?

Didn't think so.

Anything in life is a risk Tom.

Where's your gungho spirit?

**Tom Sawyer** · 03-07-2011, 01:58 PM

Originally Posted by Loy Toy

Anything in life is a risk Tom.

Where's your gungho spirit?

Chaiyo!

**FailSafe** · 03-07-2011, 01:56 PM

Originally Posted by Tom Sawyer

I've never understood why anyone (other than leasing from your spouse) would agree to the leasehold "purchases" that are alternatively offered farangs in resort areas (and Bangkok).

Many people get involved in those deals (especially for places that are within the confines of an existing resort) in the hopes that they will be able pay for their place (and hopefully make a profit) by renting it out when they aren't using it (not so much in Bangkok but certainly in Phuket and Samui). Some people actually do fairly well- many others do not (after being lured in by things like 'Guaranteed 6% return'- these 'guarantees' usually only last a couple of years).

Alternatively, you could buy a piece of land in a decent spot, build your own house, and rent it out yourself- if you're smart about it, you can make a lot of money- of course, it takes quite a bit of initial outlay and effort (you really need to be on-site during the entire construction phase), which many people aren't willing to put forth.

**FailSafe** · 03-07-2011, 01:57 PM

Originally Posted by Tom Sawyer

Man are you hostile to anyone who uses reason rather than emotion in discussing real estate. Are you an estate agent or something?

No, I'm not- real estate is just a hobby for me.

I don't see the 'hostility' -sorry if I hurt your feelings, Tom.

Oh yeah- I also didn't sell real estate in Vegas pre-bust, in case you are still wondering.

**Tom Sawyer** · 03-07-2011, 02:00 PM

Originally Posted by FailSafe

No, I'm not- real estate is just a hobby for me.

I don't see the 'hostility' -sorry if I hurt your feelings, Tom.

Oh yeah- I also didn't sell real estate in Vegas pre-bust, in case you are still wondering.

Too bad - I was going to ask you to print of a list of Vegas houses for sale. Buy low sell high!

**Tom Sawyer** · 03-07-2011, 02:05 PM

Okay - sorry - specs back on. How about this though..

Foreclosure Sale - Las Vegas

Sun Vista Dr Las Vegas, NV 89104 - $75,000
3 bed, 2 bath: 1,058 sq ft

**FailSafe** · 03-07-2011, 02:23 PM

Originally Posted by Tom Sawyer

Okay - sorry - specs back on. How about this though..

Foreclosure Sale - Las Vegas

Sun Vista Dr Las Vegas, NV 89104 - $75,000
3 bed, 2 bath: 1,058 sq ft

3 bedrooms in only 1,058 sq ft (that's a bit less than 100 sq m)? No thanks.

Been to Vegas outside the Strip lately? It's really ghetto (though the pic doesn't look too bad, you might want to check out the neighborhood around midnight).

**Tom Sawyer** · 03-07-2011, 08:22 PM

Originally Posted by FailSafe

Been to Vegas outside the Strip lately? It's really ghetto (though the pic doesn't look too bad, you might want to check out the neighborhood around midnight).

I thought so too - except I noticed there's only one or two cars parked on the road and the only traffic is two guys (apparently) on bicycles!

**KAPPA** · 03-07-2011, 03:30 PM

My folks were shopping for property in LV area and sure, lots of cheap foreclosures, but the banks weren't selling, preferring to wait for prices go up. They ended up buying a half finished renovate for very, very cheap in a really nice neighborhood.
Maybe the time has passed for homes to be speculated upon.

Originally Posted by Tom Sawyer

Okay - sorry - specs back on. How about this though..

Foreclosure Sale - Las Vegas

Sun Vista Dr Las Vegas, NV 89104 - $75,000
3 bed, 2 bath: 1,058 sq ft

**Agent_Smith** · 04-07-2011, 11:00 AM

Originally Posted by Tom Sawyer

Okay - sorry - specs back on. How about this though..

Foreclosure Sale - Las Vegas

Sun Vista Dr Las Vegas, NV 89104 - $75,000
3 bed, 2 bath: 1,058 sq ft

That's in an older neighborhood, lower middle class, large immigrant base.

Good time to invest right now in Las Vegas, prices probably won't go much lower but they will probably remain flat for awhile (lots of bank inventory, as someone mentioned, that is being released a few homes at a time). The economy here is picking up a little but we're still hurting quite a bit, still the demand from renters is holding steady.

Some sweet deals out there.

3 Bed,2 Full Bath / 1 Half Bath | 1671 sq. ft. on 0.06 acre

$99,000. Just down the street from where I live, in a good neighborhood. Price is typical for this style of home right now.

**terry57** · 04-07-2011, 03:44 PM

^

As an Australian I cant get my head around how cheap those houses are.

Even with the down turn in real estate the cheapest shitiest house in the worst suburb surrounded by natives that would steal anything one owns would cost 300,000 bucks bare minimum.

In the country 6 million miles away from anything one would be pushing shit uphill finding anything for $99,000.

The cashed up Americans must be having a field day buying premium real estate for a song.

Oh well, thats the way it goes I suppose, winners and losers sort of shit.

**FailSafe** · 03-07-2011, 02:03 PM

Originally Posted by Tom Sawyer

Too bad - I was going to ask you to print of a list of Vegas houses for sale. Buy low sell high!

More a matter of 'buy low, be prepared to own the place 'til you're old and gray hoping to turn a profit' these days- friends in Vegas (and Florida and some parts of Cali) are all upside-down on their houses- it's a bad situation..

**Loy Toy** · 03-07-2011, 02:03 PM

Originally Posted by Tom Sawyer

and 3,000,000 THB would buy you a lot of chip butties along the way.

3,000.00 Thai Baht.........about 100 USD or about 55 Pounds for 30 years is all.

Not many chip butties for that back in Blighty.

**dirtydog** · 03-07-2011, 02:18 PM

^Terrry, you getting confused with Thailand and Tasmania?

**terry57** · 03-07-2011, 02:22 PM

Originally Posted by dirtydog

^Terrry, you getting confused with Thailand and Tasmania?

Nope if Jethro and Skinnard where from Tasmania they would have 2 heads each.

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