Condotel info?

[Green Grasser]

Hi,

 

I am interested in the purchase of a small condotel in an area on or close to Central Road and Second Road.

 

I want to use the condotel for perhaps 3 or 4 months of a year.

 

I appreciate your constructive comments on my following questions:

 

1. Can you recommend a real estate expert, preferably American English-speaking, who you have had experience with? (You can PM me this info.)

 

2. Would the real estate expert represent the buyer?

 

3. What pitfalls of owning a condotel would you suggest avoiding?

 

4. Can you recommend a Thai lawyer, who you have had experience with? (You can PM me this info.)

 

Thanks in advance for your response.

 

GreenG

[griz30]

Hi,

 

I am interested in the purchase of a small condotel in an area on or close to Central Road and Second Road.

How much are you looking to spend? Do you plan to rent it out when you are not there?

I want to use the condotel for perhaps 3 or 4 months of a year.

 

I appreciate your constructive comments on my following questions:

 

1. Can you recommend a real estate expert, preferably American English-speaking, who you have had experience with? (You can PM me this info.)

I started with a real estate agent, but they all tend to push you towards certain projects (kickbacks)

2. Would the real estate expert represent the buyer?

Most of the real estate guys are not experts, more like guys like us looking for work in LOS. But they all seem to want you to do well because they will make money too.

 

3. What pitfalls of owning a condotel would you suggest avoiding? There are no big pitfalls unless you pick a location or project that has not been started, these days you want a project that is almost complete or completed. Some people feel that one day the Gov't could change their mind and take your property, but considering that Thailand depends on income from tourists (80%) I would not worry about it.

 

4. Can you recommend a Thai lawyer, who you have had experience with? (You can PM me this info.)

As for a lawyer, I used the one that the builder was using and would only sign papers that an english translation.

Thanks in advance for your response.

 

GreenG

[Green Grasser]

... these days you want a project that is almost complete or completed. ...

 

Thanks for your comments.

 

In regards to your above statement about almost complete or completed project, that is why I am also trying to find a good Thai lawyer. Such a lawyer would have familiarity with which developers have a track record and are reputable.

[pragmantic]

Hi,

 

I am interested in the purchase of a small condotel in an area on or close to Central Road and Second Road.

How much are you looking to spend? Do you plan to rent it out when you are not there?

I want to use the condotel for perhaps 3 or 4 months of a year.

 

I appreciate your constructive comments on my following questions:

 

1. Can you recommend a real estate expert, preferably American English-speaking, who you have had experience with? (You can PM me this info.)

I started with a real estate agent, but they all tend to push you towards certain projects (kickbacks)

2. Would the real estate expert represent the buyer?

Most of the real estate guys are not experts, more like guys like us looking for work in LOS. But they all seem to want you to do well because they will make money too.

 

3. What pitfalls of owning a condotel would you suggest avoiding? There are no big pitfalls unless you pick a location or project that has not been started, these days you want a project that is almost complete or completed. Some people feel that one day the Gov't could change their mind and take your property, but considering that Thailand depends on income from tourists (80%) I would not worry about it.

 

4. Can you recommend a Thai lawyer, who you have had experience with? (You can PM me this info.)

As for a lawyer, I used the one that the builder was using and would only sign papers that an english translation.

Thanks in advance for your response.

 

GreenG

 

 

FYI

http://en.wikipedia.org/wiki/Economy_of_Thailand

Economy of Thailand

GDP per capita (PPP) $8,700 (2008 est.)

GDP by sector agriculture (11.4%), industry (44.5%), services (44.1%) (2008 est.)

Inflation 5.8% (2008 est.)

Pop below poverty line 10% (2004 est.)

Labour force 37.25 million (2008 est.)

Labour force by occupation agriculture (42.6%), industry (20.2%), services (37.1%) (2005 est.)

Unemployment 1.4% (2008 est.)

Main industries

Automobiles and Automotive parts (11%),

Financial Services (9%),

Electric appliances and components (8%),

Tourism (6%),