I know a Brit who just old his company-owned house in Lamai for 4.5 million making a nice profit.biglare wrote:Yes, I lived in Samui for 6 years developing property. The first few developments went well and sold out even before the projects were completed. After the Banditos thing, where the dutch government warned the Thai police in Samui about a motorcycle gang laundering money, everything changed and the rule that allowed companies with thai nominees to purchase properties with a managing director making all moves and profits is no longer possible. The land office will no longer accept companies with falangs in control. Even though the Banditos thing turned out to be just a knee jerk reaction by the government and there was nothing to the charges of money laundering by buying and selling large plots of land, the land offices no longer accept the loophole with thai nominees. For years the loophole was acceptable and encouraged by virtually all Thai lawyers in Samui. Now the people with houses and plots of land have no way to sell them. I still have many plots of the most prime sea view land on the island and can't sell them because my customers are falang. My friends in phuket, Thai and Falang) are having the same problems.
Everyone is hoping the new elected government will find a way to make property available to falangs, but that's only a hope.
Now I play golf almost every day and wait, like many of my friends are doing. Samui has only one golf course so I'm looking at Hua Hin as a place to live. I have several friends living there now and tell me it's great.
Retire and buy in the land of smiles.
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pfotoguy369
- Specialist
- Posts: 198
- Joined: Tue Sep 25, 2007 7:22 am
- Location: Thailand
wow
That was a hell of a read and I don't know much more now than when I started.
With every investment there is a risk, Fact of life.
And yes it seems like the people who are on the positive side are the ones that have invested.
the naysayers are for the most part the ones that haven't.
as for my humble opinion which has absolutely no real facts other than what I can gather from the visa laws is
I am a guest in this country hence forth a Visa. and I can be asked to leave at any time for any reason they so desire.
I spent the better part of this weekend riding around looking at some of the grandest most beautiful home I've ever seen.
I also saw a lot of unfinished development 1/2 to 2/3 done abandoned with weeds growing up through them, I ask myself "what happened" and what happened to the monies invested prior to the close.
I'd love to have a big beautiful house again. I've had as large a a 5000 sq ft home with pools and jacuzzis and I lived in a home that was 780 sq ft form quite some years.
Luckily I made a profit which is what I live off here.
My best to you that want and do buy in this beautiful country. Go ahead and live you dream. It's yours for the taking.
For me I'm 61 and although I hope to live many more years I think I'll just rent for the moment.
As far as everyone losing there money and investment as a whole I think the Thai government would have to ask us to get the hell out of their country and leave what ever we have behind.
I don't see this happening anytime soon.
With every investment there is a risk, Fact of life.
And yes it seems like the people who are on the positive side are the ones that have invested.
the naysayers are for the most part the ones that haven't.
as for my humble opinion which has absolutely no real facts other than what I can gather from the visa laws is
I am a guest in this country hence forth a Visa. and I can be asked to leave at any time for any reason they so desire.
I spent the better part of this weekend riding around looking at some of the grandest most beautiful home I've ever seen.
I also saw a lot of unfinished development 1/2 to 2/3 done abandoned with weeds growing up through them, I ask myself "what happened" and what happened to the monies invested prior to the close.
I'd love to have a big beautiful house again. I've had as large a a 5000 sq ft home with pools and jacuzzis and I lived in a home that was 780 sq ft form quite some years.
Luckily I made a profit which is what I live off here.
My best to you that want and do buy in this beautiful country. Go ahead and live you dream. It's yours for the taking.
For me I'm 61 and although I hope to live many more years I think I'll just rent for the moment.
As far as everyone losing there money and investment as a whole I think the Thai government would have to ask us to get the hell out of their country and leave what ever we have behind.
I don't see this happening anytime soon.
Foto
If you really didn't want to know the answer, why the hell did you ask me the question!!!
If you really didn't want to know the answer, why the hell did you ask me the question!!!
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redzonerocker
- Rock Star
- Posts: 4777
- Joined: Mon Apr 02, 2007 3:55 pm
- Location: England
life
but when your maker decides its time to get the hell out of this world, you will be leaving everything behind, for surepfotoguy369 wrote:
As far as everyone losing there money and investment as a whole I think the Thai government would have to ask us to get the hell out of their country and leave what ever we have behind.
whatever you choose to do, buy or rent, the most important thing is to make the most of your time & enjoy your life to the max
Remember, no one can make you feel inferior without your consent.
Re: wow
Hello pfotoguy,pfotoguy369 wrote:That was a hell of a read and I don't know much more now than when I started.
With every investment there is a risk, Fact of life.
I'm likely to risk life and limb by continuing to post in this thread.
By investing in property using vehicles of a questionably legal nature, you add additional risks to an investment.
Are you sure about that? I would suggest that those with the most most violent of knee jerks could possibly be in the investment / RE business.pfotoguy369 wrote:And yes it seems like the people who are on the positive side are the ones that have invested.
the naysayers are for the most part the ones that haven't.
But that being said, regardless of "sides", a company organized for the purposes of allowing farangs to buy property through nominees has never been legal. Basically, Thailand has "looked the other way" until now.
Property investment
Whatever you do don't buy from that infamous Dutchman who lives up the road
Yes that one who that he has the multicoloured web site and usually comes top of all the search engines
Yummy , yummy give me your money
He thinks he is the law
Why is he still in town ?????
Yes that one who that he has the multicoloured web site and usually comes top of all the search engines
Yummy , yummy give me your money
He thinks he is the law
Why is he still in town ?????
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CliveBLive
- Banned
- Posts: 53
- Joined: Sun Aug 06, 2006 2:38 pm
- Location: Virgin Islands/Hua Hin
live the dream
[quote="JW"]pfotoguy369,
Nice post - let those who want to live the dream go ahead and do it, Those who dont want it dont bother.[/quote]
"Live the Dream" spoken like a property person. The Greek advertises, "We are building your dreams."
Pfotoguy wrote: also saw a lot of unfinished development 1/2 to 2/3 done abandoned with weeds growing up through them, I ask myself "what happened" and what happened to the monies invested prior to the close."
I'll bet some of them were the Greek's handy work. Seems like a lot of Developers, not only the Greek ones, were involved in a pyramide scheme. Bill the punters living overseas for work not done, take that money, buy more land, start another development, sell more "dreams" off plan and repeat. Then came the military coup. The unexpected spanner in the works that brought property sales to a grinding halt. The developer is now land rich and cash poor, can't finish the homes he started and has already been paid to complete. He just abandones them and hope the new dreamers never find out about his past in the short time they are here, intoxicated by the "dream."
:P The stung punters are afraid to put another baht into Thailand so they sue or just walking away for now. Thus we see the results of unwise enthusiasm for the "Dream" when here on a week or two holiday, and unbridled greek err greed, slip of the finger, of some developers, .
You don't have to buy to "live the dream." you can do it quite nicely by renting and sleep better at night. If something unexpected happens you are free as a bird to abandon the nest and leave. You are not a turtle who is shackled to his house.
Let the Dreamer beware cause nobody else care. :P :roll:
Clive
Nice post - let those who want to live the dream go ahead and do it, Those who dont want it dont bother.[/quote]
"Live the Dream" spoken like a property person. The Greek advertises, "We are building your dreams."
Pfotoguy wrote: also saw a lot of unfinished development 1/2 to 2/3 done abandoned with weeds growing up through them, I ask myself "what happened" and what happened to the monies invested prior to the close."
I'll bet some of them were the Greek's handy work. Seems like a lot of Developers, not only the Greek ones, were involved in a pyramide scheme. Bill the punters living overseas for work not done, take that money, buy more land, start another development, sell more "dreams" off plan and repeat. Then came the military coup. The unexpected spanner in the works that brought property sales to a grinding halt. The developer is now land rich and cash poor, can't finish the homes he started and has already been paid to complete. He just abandones them and hope the new dreamers never find out about his past in the short time they are here, intoxicated by the "dream."
:P The stung punters are afraid to put another baht into Thailand so they sue or just walking away for now. Thus we see the results of unwise enthusiasm for the "Dream" when here on a week or two holiday, and unbridled greek err greed, slip of the finger, of some developers, .
You don't have to buy to "live the dream." you can do it quite nicely by renting and sleep better at night. If something unexpected happens you are free as a bird to abandon the nest and leave. You are not a turtle who is shackled to his house.
Let the Dreamer beware cause nobody else care. :P :roll:
Clive
Clive,
Life here is absolutely great - why should we not call that dreamy - compared to some friends back in England i count myself very lucky, why is it bad and why should others not have that option. Everyone knows that i am involved in real estate, never hidden that, my father and i have bought 2 small pieces of land here through a company (spoken to 2 lawyers and they are not concerned about this) and i have recently bought my own home through a lease, after long term renting.
Your quote -
I'll bet some of them were the Greek's handy work. Seems like a lot of Developers, not only the Greek ones, were involved in a pyramide scheme. Bill the punters living overseas for work not done, take that money, buy more land, start another development, sell more "dreams" off plan and repeat. Then came the military coup. The unexpected spanner in the works that brought property sales to a grinding halt. The developer is now land rich and cash poor, can't finish the homes he started and has already been paid to complete. He just abandones them and hope the new dreamers never find out about his past in the short time they are here, intoxicated by the "dream."
The stung punters are afraid to put another baht into Thailand so they sue or just walking away for now. Thus we see the results of unwise enthusiasm for the "Dream" when here on a week or two holiday, and unbridled greek err greed, slip of the finger, of some developers, .
I have no argument with what you say here, you are correct that some developers have got into trouble due to a variety of reasons - this happens all over the world - if your careful and do your homework you will be fine and get what you may call your dream home. And trust me house sales have not ground to a halt, granted the current situation is far from perfect but those who have been coming to Thailand or indeed Asia are still happy to buy here.
I also agree that the people who do get into trouble are those that rush in after only a short time, trust the first person they speak to and have problems.
Renting is not for everyone, i did it for a long while and its such a waste in my eyes - equally i speak to many people who have no intention of buying here and are happy to rent indefinitely.
Bottom line is that its up to the individual - and our opinions dont really matter in the slightest.
Cheers,
JW
Life here is absolutely great - why should we not call that dreamy - compared to some friends back in England i count myself very lucky, why is it bad and why should others not have that option. Everyone knows that i am involved in real estate, never hidden that, my father and i have bought 2 small pieces of land here through a company (spoken to 2 lawyers and they are not concerned about this) and i have recently bought my own home through a lease, after long term renting.
Your quote -
I'll bet some of them were the Greek's handy work. Seems like a lot of Developers, not only the Greek ones, were involved in a pyramide scheme. Bill the punters living overseas for work not done, take that money, buy more land, start another development, sell more "dreams" off plan and repeat. Then came the military coup. The unexpected spanner in the works that brought property sales to a grinding halt. The developer is now land rich and cash poor, can't finish the homes he started and has already been paid to complete. He just abandones them and hope the new dreamers never find out about his past in the short time they are here, intoxicated by the "dream."
The stung punters are afraid to put another baht into Thailand so they sue or just walking away for now. Thus we see the results of unwise enthusiasm for the "Dream" when here on a week or two holiday, and unbridled greek err greed, slip of the finger, of some developers, .I have no argument with what you say here, you are correct that some developers have got into trouble due to a variety of reasons - this happens all over the world - if your careful and do your homework you will be fine and get what you may call your dream home. And trust me house sales have not ground to a halt, granted the current situation is far from perfect but those who have been coming to Thailand or indeed Asia are still happy to buy here.
I also agree that the people who do get into trouble are those that rush in after only a short time, trust the first person they speak to and have problems.
Renting is not for everyone, i did it for a long while and its such a waste in my eyes - equally i speak to many people who have no intention of buying here and are happy to rent indefinitely.
Bottom line is that its up to the individual - and our opinions dont really matter in the slightest.
Cheers,
JW