Anyone Own Apartment Business and Property

[pattayafun 0]

My partner think its one of the best business in thailand is to own property with thai style new apartment

goes for 3500 - 4500 baht per month. Looking at 30 units apartment.

Has anyone on this board got into this line of business?

If have, what do you think? Advise appricated it.

[Bullfrog 2,225]

My partner think its one of the best business in thailand is to own property with thai style new apartment

goes for 3500 - 4500 baht per month. Looking at 30 units apartment.

Has anyone on this board got into this line of business?

If have, what do you think? Advise appricated it.

 

For what you describe I would say yes if it was near a Thai Unversity..say chiang mai, kamphaengphet..nackon nowhere etc etc...no if in Pattaya..

 

I am now doing out my two studios in Nova Mirage, Naklua..I kept them empty shell for a bit to see what was happening in the market...Rentals are now doing well in Naklua so I have jumped in at what I think is the right time..As an indicator we wanted to rent a place there whilst we did ours up....but they were all fully booked up....

[jacko 8,866]

I thought your partner recommended renting motorcycles and cars on beach rd?

[pattayafun 0]

I thought your partner recommended renting motorcycles and cars on beach rd?

Yes, Car & Motorbike rental business as well.

Just one business at a time.

I'm trying to figure things out by getting feedback from expats and those who knows about

this line of businesses in Pattaya.

I just don't want to make stupid decision and regret later down the road.

That's all. So you guys feedback is very helpful in making business decision.

Thx again,

[Stinky 12]

Asking business advice from people on an internet forum that you don't even know? HELLO! Are you a complete daft git, or just 75%?

[torrenova 649]

My partner think its one of the best business in thailand is to own property with thai style new apartment

goes for 3500 - 4500 baht per month. Looking at 30 units apartment.

Has anyone on this board got into this line of business?

If have, what do you think? Advise appricated it.

 

If you have significant other income it can form part of a balanced portfolio but if you have time and want to manage it, then no because the returns are low. High inward costs, you won't get regular Thais paying anywhere near those prices for property of that type unless in very specific areas and even then, unlikely IMHO. You need near 100% occupancy to make a half decent percentage return.

 

There is money to be made in building it, renting it out and selling it at a vastly inflated price to some dumb westerner.

 

Thais build them on land they already own. When you factor in buying the land and building costs, it rarely makes sense. I've visited this idea in 3 towns and a number of locations, including university towns and never got the numbers to come close to making sense. Maybe leasing the land on a very long lease (30 years) at a low price with change of use rights might provide an angle. Getting the land and selling the project during construction might work. Doing a condoesque swap of rooms for building costs could work but very risky and highly unlikely to get it done.

 

I tried to get a university to block lease the units for their students but whilst common elsewhere, it just met with blank looks. Big risk to go ahead without a strong demand from tenants.

 

You have to realise that once the likely resident get an income over a certain level, they can borrow from a bank and build or buy a place. Those who cannot afford that option cannot afford 4.5k but nearer 2-2.5k, maybe 3k.

[Gary 4,125]

It appears to me that your partner, (male or female?), is determined to get you to spend some money.

[scorpions 6]

 

sooner or later she will get what she want a nice condo and a motorbike

 

everyday a fool stands up