Thailand Lounge and Chat area

[SubCmdr]

The Chinese buyer bought the condo at a discount. You would have probably had to pay more.

The place has been on the market for months. I just decided to share my experience here. The offering price was initially 2,200,000 THB. I didn't even look at the place until the Real Estate agent told me that the sellers were willing to accept 2,000,000. LOL! That's how real estate investing works.

This is even more proof that Koreans (and Chinese) are favored over Westerners. I wouldn't be surprised if the real estate agent was female and urged the seller to accept the Chinese buyer's bid due to her preference of Koreans and Chinese.

You assume the The Chinese buyer is real. And that the real estate agent was not giving me an opportunity to start a bidding war for the property. LOL! Been in the market for real estate in Thailand (and probably the rest of the world) for much longer than you have been. Makes no sense otherwise. She had a sale in hand and knew I was on the fence. Oldest trick in the book. You see my man I didn't even make an offer. Shows you how much you know (which is not much).

Buying a condo is not simple like buying shoes. Be careful. It's not the goldmine you think it is.

I refer you to a previous post where I explained the basic investment calculations of purchasing a condo for investment in Thailand, specifically Pattaya. I speak from experience. LOL! Not guessing as others are.

I treat people with respect that deserve it. I follow all laws here in Thailand. I am in no danger of being departed despite what you may think. Besides what do you know about Thai Immigration law. Do you hold anything other than the permission a tourist received when they arrive and Thailand during their visits.

Why is it that on something as simple as buying a condo I still have critics? It is not what I am doing that people have a problem with. It is who is doing it.

[SubCmdr]

So, much for condos being bad investments in Pattaya.

Let's start with a very basic concept. Your personal residence is not a investment. A investment pays you money and liability causes you to pay out money. Already I see that a certain International Trick does not even understand the most basic concept of wealth generation. Buy assets not liabilities until you own enough assets to generate the income to pay for the things you wish to consume.

Just another reason why I don't accept financial nor tax advice from International Tricks. Along with the fact that most of you don't know nothing about International Tricking either and certainly nothing about stacking your flow and then Ballin Out with it.

The fact someone offered less than the promoted price and was accepted by the seller doesn't mean buying a condo in Pattaya is a good investment.

You have proffered nothing to indicate it was a bad investment. You spoke out of turn without having any of the details. Tell me how much time do you spend in Pattaya? Of that how much time to you take out of your International Tricking time to spend looking in the rental and purchase markets. Can you give me a specific example? If you cannot, then read following and learn.

The tools need to calculate if a real estate purchase is a good deal are learned in elementary school. It is basic arithmetic. The concept I use is: Cash on Cash return. If you are not familiar with it google it.

1,900,000 THB /120 month = 16,000 THB / month (rounded up).

If you can rent the unit for 16,000 THB / month that is a 10.1% Cash on Cash return. How much are you getting from a Treasury Bill these days?

After 120 months the rental income will have returned all your invested capital in the unit and from that point on your return is infinite because you have zero invested in it. We haven't even factored in potential capital appreciation of the 10 years it takes to break even cash wise.

The unit in question was 100 m2 double unit with two full bathrooms that could be rented as is. 10th Floor. Good view out over Soi Bon Cock. 16,000 THB of rent a month in the area and building I looked would have been stretching it. But given the size and uniqueness of there might have been a lot of appeal to a Farang in the right mindset.

The other major thing that mother fuckers who don't know shit about investing in real estate in Thailand (or another place in the world is) the Farang Name concept. Finding Thai style condos in Farang Name is not easy. I speak from experience. If anyone else would like to contradict me because they think it is easy I have got the first drink anywhere they choose so you can fill me in on your knowledge.

When Japanese and Korean guys are present, the rest of us have problems competing with them too.

Appears there is more competition than just for pussy.

I would have required another 500,000 THB of renovations to bring it up to my personal Ballin standards. I only held back because I really did not want to live there. But the Chinese client snapped it up. Because indeed it was a good investment.

There are plenty of very cheap rooms to be rent around this town.

Yes there are. But refer to the first paragraph for some perspective. If I buy a personal residence it is not an investment. It is a personal expense. If I am going to incur that expense I want to live where I want to live. I want a direct ocean view! In a new building with modern amenities. If you are actually in the market (as I am) you will find the projects that meet my requirement quite busy with projects. Deals are being made every day. Furthermore these projects are not for those experiencing resource scarcity. Starting at about 6,300,000 THB for my favorite unit.

That guy gave you a good advice.

No he didn't!

[Allover]

I didn't buy my condo for an investment, I bought it to avoid paying rent.

I will break even on my investment in a couple of years.

This makes sense. You realized some time ago you would be spending a lot of time there. You treat people with respect, follow Thai laws, and comply with tax laws as needed. You are not in danger of being deported as some foolish westerners seem to be.

[Allover]

Someone gave me bad advice up in here not to buy a condo. I will not name names to protect the guilty. I looked at a condo in Central Pattaya yesterday. The wanted to 2. 0 million THB I was informed today that a Chinese client offered 1. 9 million THB. The buyer accepted it.

So, much for condos being bad investments in Pattaya.

Just another reason why I don't accept financial nor tax advice from International Tricks. Along with the fact that most of you don't know nothing about International Tricking either and certainly nothing about stacking your flow and then Ballin Out with it.

Turn up for what?

The Chinese buyer bought the condo at a discount. You would have probably had to pay more. This is even more proof that Koreans (and Chinese) are favored over Westerners. I wouldn't be surprised if the real estate agent was female and urged the seller to accept the Chinese buyer's bid due to her preference of Koreans and Chinese. Buying a condo is not simple like buying shoes. Be careful. It's not the goldmine you think it is.

[Mr Enternational]

I am a financially fortunate, 70 yo, Caucasian American Widower, who only speaks English. The dream is to find a GF's where the relationship is good on both sides of a closed door. Intelligent, NSA & English speakers are ideal. I don't expect this to be inexpensive. How / Where to find? All intel is most welcome.

If you are looking for a girlfriend it will not be expensive. If you are looking for a hooker to be your girlfriend, it will be expensive. Where to find? Anywhere that there are people. Just start a conversation.

[PilotPete]

I am a financially fortunate, 70 yo, Caucasian American Widower, who only speaks English. The dream is to find a GF's where the relationship is good on both sides of a closed door. Intelligent, NSA & English speakers are ideal. I don't expect this to be inexpensive. How / Where to find? All intel is most welcome.

[Explorer8939]

Yes agree, seen the video before it is the expat community that had set this on fired to spread.

I'm no spring chicken when I go to these expat meeting thank God not often. When open forum comes I leave you got all these retired expat room full of Joe Bidens LOL I've seen even myself get off track. Guys asking the same question over and over again afraid of their own shadow.

These Thai leaders come from the same school of stupidity they talk to stay relevant. They throw stuff out no clue to go about let hope this is one of them. LOL.

The question is how many ExPats are going to file a Thai tax return for the first time in 2025.

[LittleBigMan]

This is the latest I have heard about it as of mid December 2024:

https://youtu.be/hFDsOLBtH-8?si=fnnHK1IxMygUe1tn

But only time will tell.

Yes agree, seen the video before it is the expat community that had set this on fired to spread.

I'm no spring chicken when I go to these expat meeting thank God not often. When open forum comes I leave you got all these retired expat room full of Joe Bidens LOL I've seen even myself get off track. Guys asking the same question over and over again afraid of their own shadow.

These Thai leaders come from the same school of stupidity they talk to stay relevant. They throw stuff out no clue to go about let hope this is one of them. LOL.

[Explorer8939]

When it comes to taxes even I would admit no one has a clue as to what will happened. As far as I know the revenue department is still waving expat off when trying to apply for a I. The. Neither has indication discussion as to how and where been started or finalized to overturn many of the Duel Tax Treaty which there are estimated 60 or so country that have them but the key is there are like 8-10 countries USA Being one of them within the Duel Tax Treaty a clause " Saving " that doesn't allow for duel taxation including capital gains if already tax and paid in the USA.

In my research and attending some expat meeting there are two forms that applies to expats Form 90 and 91,91 is for personal income brought into the Thailand, the other 90 is a bit more extensive really for those who work and earn here.

What will happen no one really knows but if one has to be force the forms listed above are the two.

No Thai tax regulations can supersede a DTA.

The problem is implementation. There was a Brit who posted that in order to get a credit for taxes paid in the UK, they needed the documents from Britain translated into Thai and certified in the UK.

My opinion is we get a lot of comments about Thai taxes, but few here have ever filed a Thai tax return, or ever will, unless Thailand enforced their tax laws. Which will come after they enforce the motorcycle helmet laws.

I know Thai bar girls with millions of baht in the bank. They don't pay taxes.

[Explorer8939]

I've never looked at buying property or a Condo as a real investment especially Pattaya, I used to keep track of property go around in town and Darkside whenever free to just check things out buy years now until recent just stop looking around.

I' also feel that prices are inflated tough I see some of these prices being asked with so much inventory available. I do understand buying just to avoid the rent I have no problem there. You can bargain believe it or not.

When I purchased my house, Darkside the asking price was 1. 9, the original bidder Thai couldn't come up with the final payment timing I offered 1. 8 cash sold. Years later the empty lot next to my house owner asking was 850,000 I offered 700,000 I would paid the transfer tax 30,000 baht. Sold.

My wife first car 650,000 baht 20 years ago, told they gave me all the accessories plus 1 year free insurance can't bargain, come 2018 I wanted to get a new truck, when to car show in Bangkok, several dealerships in Pattaya, price for model I wanted was 890,000 again everything thrown in not being in a hurry kept looking and trying. Bingo, one day dealer I waved him off told him lower 855,000 came back got her to write it down. The dealership was a bit far from my home so I took it to where I purchased 20 years ago wrote down 855,000 or do better Sold!.

One not: you don't own the property, your Thai wife does.

That must curtail your mongering in Pattaya.

[Explorer8939]

I hope you can get your money out with these new tax laws.

The new tax regulations don't impact money transferred out of Thailand.

[Paolo99]

Someone gave me bad advice up in here not to buy a condo. I will not name names to protect the guilty. I looked at a condo in Central Pattaya yesterday. The wanted to 2. 0 million THB I was informed today that a Chinese client offered 1. 9 million THB. The buyer accepted it.

So, much for condos being bad investments in Pattaya.

The fact someone offered less than the promoted price and was accepted by the seller doesn't mean buying a condo in Pattaya is a good investment.

There are plenty of very cheap rooms to be rent around this town.

That guy gave you a good advice.

[EihTooms]

When it comes to taxes even I would admit no one has a clue as to what will happened. As far as I know the revenue department is still waving expat off when trying to apply for a I. The. Neither has indication discussion as to how and where been started or finalized to overturn many of the Duel Tax Treaty which there are estimated 60 or so country that have them but the key is there are like 8-10 countries USA Being one of them within the Duel Tax Treaty a clause " Saving " that doesn't allow for duel taxation including capital gains if already tax and paid in the USA.

In my research and attending some expat meeting there are two forms that applies to expats Form 90 and 91,91 is for personal income brought into the Thailand, the other 90 is a bit more extensive really for those who work and earn here.

What will happen no one really knows but if one has to be force the forms listed above are the two.

This is the latest I have heard about it as of mid December 2024:

https://youtu.be/hFDsOLBtH-8?si=fnnHK1IxMygUe1tn

But only time will tell.

[LittleBigMan]

When it comes to taxes even I would admit no one has a clue as to what will happened. As far as I know the revenue department is still waving expat off when trying to apply for a I. The. Neither has indication discussion as to how and where been started or finalized to overturn many of the Duel Tax Treaty which there are estimated 60 or so country that have them but the key is there are like 8-10 countries USA Being one of them within the Duel Tax Treaty a clause " Saving " that doesn't allow for duel taxation including capital gains if already tax and paid in the USA.

In my research and attending some expat meeting there are two forms that applies to expats Form 90 and 91,91 is for personal income brought into the Thailand, the other 90 is a bit more extensive really for those who work and earn here.

What will happen no one really knows but if one has to be force the forms listed above are the two.

[LittleBigMan]

I've never looked at buying property or a Condo as a real investment especially Pattaya, I used to keep track of property go around in town and Darkside whenever free to just check things out buy years now until recent just stop looking around.

I' also feel that prices are inflated tough I see some of these prices being asked with so much inventory available. I do understand buying just to avoid the rent I have no problem there. You can bargain believe it or not.

When I purchased my house, Darkside the asking price was 1. 9, the original bidder Thai couldn't come up with the final payment timing I offered 1. 8 cash sold. Years later the empty lot next to my house owner asking was 850,000 I offered 700,000 I would paid the transfer tax 30,000 baht. Sold.

My wife first car 650,000 baht 20 years ago, told they gave me all the accessories plus 1 year free insurance can't bargain, come 2018 I wanted to get a new truck, when to car show in Bangkok, several dealerships in Pattaya, price for model I wanted was 890,000 again everything thrown in not being in a hurry kept looking and trying. Bingo, one day dealer I waved him off told him lower 855,000 came back got her to write it down. The dealership was a bit far from my home so I took it to where I purchased 20 years ago wrote down 855,000 or do better Sold!

Condo small complex well run, saw an add for 999,000 on the Big see extra board noticed there were addition ads with the same phone number indicating it was might be an Thai agent? I got the location went down to complex noticed for rent and sale signs on many of the balconies. When in lobby ask could I see some of the rental units basically 28-32 studios, I ask during showing any of the units are for sale I get the head toe treatment LOL, I offer the unit I like end unit 800,000 baht split half half the transfer tax purchased from a Thai building 51% ownership put it under my wife and son name. My thought was if anything ever happened with my marriage this was where I was going to live and die LOL.

You can and should bargain no harm in asking.