I look forward to your video about buying property with land through a Thai and obtaining a 30 year lease fully registered on the Chanote at the land office. If you're married then things get complicated as it's 50/50 but if unmarried I believe the various lease options, usufruct / superficies (where available) etc are solid.
You should look at the Thai nominee law in Thailand. Doing what you are talking about could run afoul of section 96 in Thai property laws. Atleast if you are married it is very difficult to run afoul of this law.
@@oldthaiexpat Nonsense, that applies to companies with actual companies. I'm talking about purchasing a house and land and leasing it for 30 years, after that it's hers and in truth we will both likely be gone before that time anyway and I have no heirs. But everyones situation is different.
@@letseat3553 no it isn't nonsense. There was a case 2 years ago in Rayong court where exactly what you said happened. A foreigner gave a Thai woman who wasn't his wife money to buy a house and then had a lease for 30 years. The woman went and cosigned a loan for her brother and he didn't pay. Toyota leasing repossessed the house and it was sold at government auction. The new owner went to court and had the lease removed from the chanote using the Thai nominee law. See the law doesn't clearly state what a Thai nominee is so any juristic person could be considered a nominee. The judge will look at intent. Was this done to give a foreigner control of the land and for what reason? Is a valid business being operated? The judge ordered the Ministry of interior to remove the lease from the chanote Maybe you should have a better understanding of Thai law or get a better lawyer. Things are never a problem until they are. This is a real case. Trying to use leases and usufructs to control Thai property as a foreigner is illegal. The law clearly states this. Read the Thai land act concerning foreigners
Finally a true example of dealing with the condo real-estate market in Thailand . Your presentation is not based on one persons point of view . It was refreshing to watch. I do have 2 questions, both based on buying a condo for oneself . 1) should I use a lawyer to represent myself in the buying process ? 2) can one buy a smaller size older building with more square footage that still offers good amenities ? I’m looking at areas north of Pattaya by the ocean and Jomtien Beach area.
I’d always use a lawyer without fail. The issue with the older blocks is that they lack the amenities of the newer blocks. That said, what amenities are you after. Most have a pool. I’d check out a block called the VN2 residence. It’s right by the golf course (Asia hotel). Area known as Pratumnak. Great pool that hardly anyone use and minutes away from the beach. Also very quiet. That area in general is nice. Hope that helps
I thought this was going to be another no all You Tuber, but for once this guy talks a lot of sense, good advice. Ive been here 26 years and made a small fortune out of high end houses and land.
I've not seen anyone mention before about a consortium / entity owning a large % of the condos on any given floor or block and therefore getting preferential treatment, or it meaning they're able to offer lower rents. Food for thought, thank you.
I have lived in Thailand full time for over 19 years. I bought a condo 18 years ago in my name. I live in it it has paid for it self over the 18 years but only buy if you plan to live and stay long term meaning 10 years up.or just rent as condos do not go up in value very much in fact some go down in value so be careful.
A piece of advice you would likely to give to a person who is willing to invest ( as a single owner ) in Thailand ( pattaya or Phuket ) for a condo to generate Revenue ( monthly basis ) ?
Invest in an older condo block. There is less competition, building maintenance has been in place for a while, there is always more demand for larger units, and prospective tenants tend to stay longer.
By all accounts lease agreements in Thailand stipulate that a landlord has to lease their property for a minimum of 6-12 months the. I’m sure it differs from condo to condo. But people do it all the time. It’s a huge grey area
@@mrdamianking Damian, Air BnB type rentals are a major problem in resort towns like Hua Hin. Anyone looking at a condo should check the reviews on google maps. The last thing you want is to buy a unit, only to discover it is over run with short stay tourists.
@@mrdamianking I told you your smart and Don t like it ,ok ,for my english it is my second language I speak better then I rite same for spanish ,I am better in french ,excuse me to think that your smart, but saying to guys to put the tittle under there own and only name is smart lol, by the way to me counting is more important ten riting I hire lawyer for this
I look forward to your video about buying property with land through a Thai and obtaining a 30 year lease fully registered on the Chanote at the land office.
If you're married then things get complicated as it's 50/50 but if unmarried I believe the various lease options, usufruct / superficies (where available) etc are solid.
I’d like to know more on this too
You should look at the Thai nominee law in Thailand. Doing what you are talking about could run afoul of section 96 in Thai property laws. Atleast if you are married it is very difficult to run afoul of this law.
50-50 better odds than the western world ~
@@oldthaiexpat Nonsense, that applies to companies with actual companies. I'm talking about purchasing a house and land and leasing it for 30 years, after that it's hers and in truth we will both likely be gone before that time anyway and I have no heirs. But everyones situation is different.
@@letseat3553 no it isn't nonsense. There was a case 2 years ago in Rayong court where exactly what you said happened. A foreigner gave a Thai woman who wasn't his wife money to buy a house and then had a lease for 30 years. The woman went and cosigned a loan for her brother and he didn't pay. Toyota leasing repossessed the house and it was sold at government auction. The new owner went to court and had the lease removed from the chanote using the Thai nominee law. See the law doesn't clearly state what a Thai nominee is so any juristic person could be considered a nominee. The judge will look at intent. Was this done to give a foreigner control of the land and for what reason? Is a valid business being operated? The judge ordered the Ministry of interior to remove the lease from the chanote Maybe you should have a better understanding of Thai law or get a better lawyer. Things are never a problem until they are. This is a real case. Trying to use leases and usufructs to control Thai property as a foreigner is illegal. The law clearly states this. Read the Thai land act concerning foreigners
Finally a true example of dealing with the condo real-estate market in Thailand . Your presentation is not based on one persons point of view . It was refreshing to watch. I do have 2 questions, both based on buying a condo for oneself . 1) should I use a lawyer to represent myself in the buying process ? 2) can one buy a smaller size older building with more square footage that still offers good amenities ? I’m looking at areas north of Pattaya by the ocean and Jomtien Beach area.
I’d always use a lawyer without fail. The issue with the older blocks is that they lack the amenities of the newer blocks. That said, what amenities are you after. Most have a pool. I’d check out a block called the VN2 residence. It’s right by the golf course (Asia hotel). Area known as Pratumnak. Great pool that hardly anyone use and minutes away from the beach. Also very quiet. That area in general is nice. Hope that helps
Thank you 🙏🏻
I thought this was going to be another no all You Tuber, but for once this guy talks a lot of sense, good advice. Ive been here 26 years and made a small fortune out of high end houses and land.
So how about making a list of those who are managed well and where you get what you pay for?
Wouldn’t that make it easier for everyone?
And how do you suggest I find out which blocks are managed well?
As a potential buyer, you should do due diligence on the financial standing of the Juristic Person.
Hi, what is the best gross yield you can get in a condo in a CBD area ?
Only consider buying a condo 100% that's in your name, nothing else is, no matter what these vloggers who have been here a few months tell you
I've not seen anyone mention before about a consortium / entity owning a large % of the condos on any given floor or block and therefore getting preferential treatment, or it meaning they're able to offer lower rents. Food for thought, thank you.
Landlords with numerous interests in blocks certainly have more negotiating power when dealing with managing agents, that’s for sure.
I have lived in Thailand full time for over 19 years.
I bought a condo 18 years ago in my name.
I live in it it has paid for it self over the 18 years but only buy if you plan to live and stay long term meaning 10 years up.or just rent as condos do not go up in value very much in fact some go down in value so be careful.
Completely agree.
Very good advice
Thanks 👍🏻
Can I get mortgage in thialand
I’ve no idea Keith, I don’t know your personal circumstances. That said, I think most people buy cash
From a Thai bank， as a foreigner no
@@randompasserby2697 yes you can
A piece of advice you would likely to give to a person who is willing to invest ( as a single owner ) in Thailand ( pattaya or Phuket ) for a condo to generate Revenue ( monthly basis ) ?
Invest in an older condo block. There is less competition, building maintenance has been in place for a while, there is always more demand for larger units, and prospective tenants tend to stay longer.
Can you buy a property if you are from the uk
Yes very easily as long as you buy cash
Can u not put on airbnb in the uk or is it legal?
By all accounts lease agreements in Thailand stipulate that a landlord has to lease their property for a minimum of 6-12 months the. I’m sure it differs from condo to condo. But people do it all the time. It’s a huge grey area
@@mrdamianking they said a hotel room has to be booked for one month can't few days
@@mrdamianking Damian, Air BnB type rentals are a major problem in resort towns like Hua Hin. Anyone looking at a condo should check the reviews on google maps. The last thing you want is to buy a unit, only to discover it is over run with short stay tourists.
I don’t believe buying a property is the right think, just rent
It’s certainly the less stressful option. That said, I do know westerners who own property in Thailand and have never had any issues.
No rent rent rent.
Certainly makes life easier
Too risky.
Who would you recommend to help you buy a condo for cash flow, I would spend 2 months a year in the condo...
Don’t understand your question? Condo in Thailand?
@@mrdamianking Yes sir, i want to get an ABNB going. thx you
Are you aware Airbnb is actually illegal in Thailand?
@@mrdamianking I am now, i thought more of a grey area.
Plenty of people still do it. But I wouldn’t personally pursue an investment that is not completely legal just incase they crack down on it.
This is A++ video and information thank you!! I need your contact 🙏🏾
No women from anywhere tailand or not lol you must be intelligent
Questioning my intelligence when your spelling is atrocious, and punctuation is none existent 😂
@@mrdamianking I told you your smart and Don t like it ,ok ,for my english it is my second language I speak better then I rite same for spanish ,I am better in french ,excuse me to think that your smart, but saying to guys to put the tittle under there own and only name is smart lol, by the way to me counting is more important ten riting I hire lawyer for this
@pascalfo6014 my bad, I thought you were being sarcastic. I take it back if English is your second language ✌🏻
@@mrdamianking no problem in spanish I am worst lol ,do they talk about changing ownership of the land ?