SubCmdr's MasterClass on Wealth Building
[B]Asset[/B]: [I]It is anything (tangible or intangible) that can be used to produce [u]positive[/u] economic value.[/I].
[B]iability[/B] is a present obligation arising from past events, the settlement of which is expected to result in an [U]outflow[/U] from of resources embodying economic benefits.
[QUOTE]That's one way to look at it.[/QUOTE][B]Actually that is the only way that I look at it[/B] That is the only way to look at it if you want to build generational wealth. Look man, you live your live how you want to. But this is some really basic shit! The devil is in the details.
[B]How do you do it?[/B]
[QUOTE=SubCmdr;2967697]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 [B]International Trick[/B] 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.[/QUOTE]If you are just looking to get by, do what all the other old, ugly, fat, poorly dressed dumb ass [U]Farangs[/U] seem to be doing, spending their monthly checks that they get from wherever on booze and bitches.
But the knowledge I am putting out goes WAY beyond buying shoes or a condo or hiring a prostitute (think inviting girls over to drink in your room). This goes to a philosophy of personal finance that either you understand and get rich or you don't and stay poor. [B]It is that simple[/B]!
[B]Why do you ignore the potential capital appreciation of the real estate investment investment?[/B]
[QUOTE]If you're thinking that your unit will be rent every month for 10 years, I'd rather call this wishful thinking.[/QUOTE]You can call it anything you like. Given the level of experience that you have owning residential real estate in Thailand. I will defer to you. Mr. Expert, give me the percentage of time vacant each year I will will redo the calculations based on that.
I had a friend show me the market. I will tell you if you buy rooms that will rent from 4000 - 6000 THB / month you will have a line of people waiting to rent your room. Just saying that I have actually observed this in the marketplace where my friend chooses to operate. I went with my friend to look at a condo and he decided to buy it. The rental manager that sold him the property told him she has a list of 5 people waiting for a room. Within one week of him closing on the property he had a tenant in it! [B]Holla[/B]!
[QUOTE]And you didn't count all the expenses you'll going to have during these 10 years [/QUOTE]Given the level of experience that you have owning residential real estate in Thailand. I will defer to you. Mr. Expert. Give me the list of the expenses you incur while owning residential real estate here in Thailand. Lay them out for me and I will redo my calculations based on that. My friend who has done exactly what I speak of tells me his expenses are 10.2% of his yearly income. [B]Holla[/B]!
[QUOTE]on top of the initial 500000 you said you were planning to spend to refurbish the place.[/QUOTE][B]This was for personal use not investment.[/B] I could rent the place in question as is. I stated this in my original post. [B]Holla[/B]!
[QUOTE]In any case, nobody is giving you an advice as nobody has any information on your situation.[/QUOTE][B]YOU LIE[/B]! Read this:
[QUOTE=Allover;2964222]Since you're an [B]idiot[/B] I'll give you this sound advice. Don't even think of buying a condo. Just rent. Don't lock yourself into one location in Pattaya. You may later choose to move back to Jomtien after you figure out how to get there from Central Pattaya using the baht buses. [b]Also you will lose money if you get deported tax evasion[/b].[/QUOTE]
[QUOTE]People are telling you to be cautious with these kind of investment, and what they are saying does not sound silly.[/QUOTE]It sounds silly to me for people to be telling me to be cautious about doing something when I have a guide (my friend) doing exactly what I speak of. LOL! The individuals telling to be cautious have absolutely NO experience that they have outlined with owning rental real estate in Thailand. If they do and you know about it, please show me where they have stated: [I]I have experience doing this[/I]! [B]Holla[/B]!
[B]My time; My money; My dick; My call[/B]
We have people talking shit about others up in here depending on if they use a condom or not, how much they choose to pay a prostitute, how much they choose to spend on entertainment and there are also comments about the relationships of others. As if [B]International Tricks[/B] are qualified to be handing out relationship advice. [B]They are taking about what others spend all the while not disclosing exactly what they choose to spend[/B].
Check the [B]Pattaya Reports[/B] thread for the latest trip reports that state NOTHING about prices. So, it does not surprise me as most of the of comments in the posts in the [B]Pattaya Reports[/B] thread are about what others are doing. There is actually very little posting of actual information on having sex with girls occurs in which someone details the following:
[B]1. Where you hired your prostitute? 2. How much you paid your prostitute. 3. What social/sexual services you prostitute provided you?[/B]
[QUOTE]People looking for a place to stay on long term in Pattaya can easily find a good place for under 8000 baht (all included), which is half the price you used in your explanation.[/QUOTE]Did you actually read my post?
Depends upon how YOU define good place. Goto [U]View Talay 6[/U] (can we say DIRECT OCEAN VIEW) on Second Road and you won't see a long term rental for under 16,000/ month. And those places are half the size of the unit in question that I looked at (abet without a direct ocean view). But on a square foot basis it is have the price of a the smallest room in View Talay 6.
Yet, there are people that get on MY case about going to beach road. Then turn around and have apoplectic fits because I report that I spent [B]16000 THB[/B] up in the club. Seriously? Once again you are getting it twisted. [B]Asset verses investment[/B].
[QUOTE=SubCmdr;2967697]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 [B]International Trick[/B] 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.[/QUOTE]8000 THB all included might work for you. [B]Not for me[/B]! I am sure you also have a problem with how much money I choose to spend up in the club also. I like to buy bottles and lots of lady drinks.
I like having everything just so in my personal space and that is not possible when you rent. I have owned my personal residences for over 35 years of my life. I am not adjusting well to renting. Even though it makes perfect financial sense. Other people are used to a different lifestyle. [B]A much lower lifestyle[/B]!
[QUOTE=SubCmdr;2967697]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 [B]International Trick[/B] 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.[/QUOTE][U]Lets go back to my original premise[/U]
My friend showed me how you can buy 2 small rooms for 600,000 THB each that will give off 4500 - 5000 THB in rent each month. You could then take that income and have 9000 - 10000 to actually rent a decent apartment. Reach into your pocket for another 2500 - 3000 THB for electricity, water and internet. You have your fixed expenses taken care of.
If you didn't want to reach into your pocket for the other expenses, buy a third room. Your capital outlay is now 1,800,000 THB. In ten years, you get your money back, you have three units certainly worth more than you paid for them initially. And the rents continue infinitely.
I know of nice rooms (but small) that rent for 6500 - 8000/ month but would cost you 1,200,000 THB to buy (one small room). Makes more sense to me to buy the two or three units that can be rented out and use the income to pay for the room where I want live. But that is how I think. Because I understand the difference between a [B]asset [/B]and a [B]liability[/B].
I am about to buy motorbike. There is absolutely no way for me to make that into an asset. It is a pure liability. But I am willing to spend the 100,000 - 150,000 THB in order to have the time savings. Please no motorbike warnings. If you don't wear a condom every time you fuck then you got nothing to say to me about risks. LOL!
[QUOTE]Besides, if you were really cashing in as much as you're saying, you wouldn't be looking for such investments. Just saying.[/QUOTE]Here you are speaking about your own situation. Tell me a better way to use my cash. How do you produce your flow in order to create your stack? Just because you ain't got it does not mean that I don't. I can tell you don't have it because you don't have a wealth mindset. You do not even know the difference between an [B]asset and liability[/B]. You think it is optional how you look at it but it is not. [B]It is a cold hard fact[/B]! You cut that part of my quote out of your reply. Why is that?
[QUOTE=SubCmdr;2967697]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 [B]International Trick[/B] 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.[/QUOTE]How do you suggest that I generate passive income? I don't like bonds. I have enough paper investments (AAPL, NVDA, MSTR, COIN, GEV, IDR, UROY, GE) and I have enough hard money investments (Au, Ag). I have enough of that worthless fiat currency that can be printed at will. (THB, COP, DOP, USD).
In my personal situation it makes sense to purchase income producing real estate in the places I plan to spend the most time. I am speaking about something (my friend) has done in three different countries and he is currently looking for a fourth. He is showing me how to do it.
So all you [B]International Tricks[/B] out there that are Thailand Real Estate Investing Experts, what is the best way to use excess cash money that I stack from my flow (I already have the entertainment part on lock)?
[B]ROTFLMO[/B]
[B]How you like me now[/B]?
CaliGuy33 is one funny mother fucker!
[B]Posting Mexico and Thailand minutes from each other[/B]
In one post he shows he does not know shit about Tijuana. Of course [U]Zona Rio[/U] is different from [U]Zona Norte[/U]. If you actually knew something about the area (maybe visit every once and a while) you might not be asking such dumb ass questions.
He is posting here in Thailand [U]Rants[/U] and talking shit because apparently he cannot get any pussy in [U]Cali[/U] and so needs to spend his time banging on his keyboard. [B]What up[/B]? You just felt need to call me out on something [U]Caliguy33[/U] and be like the rest of these dumb ass mother fucks by throwing up some weak ass shit for me to reject. I need to put some more blocks up on the stat sheet so they can us them in the DAIT highlight reel. ! [B]Cause I go hard in the mother fucking paint ya trick[/B]!
I have no axe to grind with you personally. Instead of just being a spectator you wish to wade in with your [B]male bovine excrement[/B] (Explorer Style) because you are beating off between getting your dick sucked in [U]Zona Norte[/U] and making you annual trip to Thailand from Cali.
[QUOTE=CaliGuy33;2968235]but never your former enemy turned butt buddy haha.[/QUOTE]Remember mother fucker that I have no enemies. Never have any. Doubt if I will ever have any. Enemies exist in the real world. And not a single person (including yourself) who talks shit exists in [B]MY REAL WORLD[/B].
You all just a bunch of internet soxs. They only exist as a rotating band of haters talking about my shoes, my tax compliance, my financial investments, my real estate investments, the amount of money I make, how I make that money, do I actually have any money, the amount of money I spend in the club, the amount of money I spend hiring prostitutes, the appearance the prostitutes I hire (even through none of you mother fucks have seen a single girl that I have hired as my prostitute), my non-existent relationship with my [I]gik[/I], my non-existent relationships with bar girls, where I grew up, from where I source / find / hire my prostitutes, where they think I live, where they think I should live, making defamatory statements about me committing criminal acts, taunting me with idle threats, and did I miss anything?
[QUOTE=CaliGuy33;2969298]I and countless others have frequented the 6 hundreds of times and never once bought a drink. You can walk down the street, spot one you like, chat with her for a minute in front of the bar and go up for ST.
You insisting on guys buying drinks tells me you're affiliated with bars and have an angle you're taking here.
As your BFF says, "My Dick, My Money My Time. ".[/QUOTE]Here is what I actually say mother fucker: [B]My time; My money; My dick; My call[/B]! I have [B]One Dick[/B] policy. The only dick I worry about is my own!
[B]ROTFLMAO[/B]
[QUOTE=CaliGuy33;2969579]Actually I don't drink, nor do I sit in bars or clubs, I just don't enjoy it. I have better things to do than to sit around at a bar like most losers playing Connect 4 or pool and sitting there looking around at nothing like a dumb ass. I cut to the chase for ST on Soi 6 and other establishments. To each their own.[/QUOTE]The only reason you don't like going to a bar is because you get tried of seeing mirror images of yourself live in in person in those bars. You know the old, ugly, fat poorly dress Farangs that are from YOUR country of origin.
[QUOTE=CaliGuy33;2969579][b]I don't need to go to a club and make it rain so I can feel cool somehow[/b]. I'm a wham, bam, thank you mam kind of [u]Cali Guy[/u].[/QUOTE]You really think that is what is about? Let me start by asking have you ever actually had bottle service in a club? Because if you have not then saying you don't like the experience is just you beating on your keyboard and transcribing the words that are coming out of the side of your neck.
Some experiences you do not have to experience in order to know you don't want to experience them ever. Like, I do not have to get hit with OOBuck in order to know that [I]shotgun bullets are bad for my health[/I] - [B]Ice Cube[/B].
But buying a bottle of in the club by yourself or sharing with your friend is a whole lotta fun. Now if you don't have a stack that allows you do that I understand the hate.
And by the way I can walk up to a girl in Soi 6 and get a blow job without buying drink (800 THB). I can also approach a girl in the street and do the same thing. Offer 1000 and we got straight upstairs for boom boom. Those low offers work best early in the afternoon before crowds build up and the girls are looking to book there first sale. Get there early enough and you can watch the prayers asking for blessings before the bar opens.
This newbie says: fuck you [U]CaliGuy33[/U] and all of your other broke ass know it all [B]International Tricks[/B] friends who are just visitors. LOL!
Kicking some knowledge into your eyehole RajRaj!
What kind of clown writes this and calls it a trip report.
[QUOTE]Lala Land. Fresh off the Farm small dark skin girl. Nice Tiddies. Kind of to my liking but not quite there. Rich Korean s took her. I get the girls like drinks but to get full salary don't they have to Boom Boom a few times every 10 day contract.[/QUOTE]A trip report consists of informing your fellow [B]International Tricks[/B] about where your hired your prostitute, how much you paid your prostitute and the services you provided your prostitute.
I have the flow that allows me to create a stack I can then use to [B]Ball out[/B] where ever I choose too. Including a Top Tier Agogo on walking street. Yep, I can get up in that *****. [B]Can you[/B]?
LOL!
CaliGuy33: International Trick just like I am. But he thinks he is better than me!
Actually I don't have a lot of time on my hands. My hobby is not pussy. I spend very little time on pussy. So, while I am watching my green and red candles form on my screen I can write these posts.
So I am poor. Why I am not working and you are still toiling away on the corporate / government plantations in the United States of America?
I've structured my life so that I don't have to fly half way around the world to get some pussy. If the pussy so good in Cali why come to Pattaya?
[B]Answer that [u]CaliGuy33[/u][/B]?
[QUOTE=CaliGuy33;2970003]You have a lot of time on your hands to be going back and checking commenter's comments, quoting them and writing paragraphs on each one LOL. Shows what a pathetic, empty life you live.
You act like a baller, yet you live in a third world country because that's all you can afford.
You live in Pattaya in particular for mongering because your fragile, low self esteem ego needs the constant female validation.
And if you don't like this rhyme, then bring your big bad ass to California cause we ain't hard to find.
How you like me now? LOL.[/QUOTE]I like you just fine. You just an another one of those dumb ass, old, ugly, fat Farangs that dress poorly. You are beating you dick while talking shit through you keyboard to those that don't have to bother to do that cause they have more Thai Girls that want to get on their dick than they have time, energy or money to service. I have one coming over as I am writing this post. No Lady Drinks.
[B]Balling[/B]? Not an act! Join me in Heaven Above. They have soft drinks. LOL!