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Buy to Let Condos for Mongers


socrates

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I am also interresting in buying condos in Pattaya for leting it. I do that already in my country and here is possible to make good money. When I retire in Thailand in a few years I like to do that too because I need something to do. I would only accept a prime location. There are so many developments and green parcels of land outside the center so that I can not understand how they can sell them at good prices. Looks for me like a bubble. Check google earth and look how much space is left for new developments. There is no lack.

 

As said before I only would like a prime location. But the prices actually are too high to make an acceptable profit. This means that I will wait until the Euro will become more stronger (I do not know if this ever happens again) or a crises will crack down the prices.

The other thing is that the situation in Pattaya is changing. Indians, Russians are getting more, Western Tourists are hit by the crises and the prices in Thailand are getting up. I think there will be a change in the type of Tourists and I do not know how it will impack the type of accommodation that will be required in the next 10 years.

 

View Talay 6 is ok but on one side there is a parcel of land that is green. This means that sooner or later somebody will build something there. Construction noise and a loss of view on one side will be the result.

 

The result of my calculation is that I keep an eye at the market and when the time is right, I buy. I am not in a hurry.

 

Thats my opinion. Tell me what you think about!

 

 

on that basis, the piece of green next to VT6 will be so valuable as to drag prices up imo, not diminish neighbourhood values.

thats about as prime as central pattaya gets.

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but some say the neighbourhood is not good also there are cop raids due to some unwanted activities. pls check before buying .

 

Just like any other Thai neighborhood of 1600 families. There will be problems. In the 3 months I stayed there I never had or witnessed one bad experience.

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Hi Alex, what sort of costs are involved? and management fees etc?

 

I am looking myself for future and want something I can spend a £30 - £50K on and not make a fortune but say pay for itself in 10 years and allow me usage but without hefty management fees etc...

 

mpm,

The common one off management fee for The View is 20,500 baht, and together with the sinking fund a total of 47,000 baht. Electric meter is 10,000 baht. I am unsure as to what the yearly maintenance costs are but two weeks rent has covered all my yearly costs in my other apartments. If you decide to buy somewhere be very careful with the contract regarding transfer fees to your name. The developer should normally pay most of the transfer costs and you are legally entitled to only pay normally 1% and a maximum 2%. Do not back down on that if you are signing the contract. The developer wants to sell and you have the cash. Cash is King.

 

If you decide to buy somewhere PM me and I can get you some good advice.

 

I read so many things on the Forum regarding buy or rent. I can tell you from a personal point of view and experience I do not regret buying and the apartments I have bought have been rented out 100% since day one in October 2011 until today. Ok so it's high season but I know I can fill the apartments at least 90% of the year. The Russians are good for something.

 

Sorry about the delay getting back but been very busy.

 

Alexi.

How do you write, create?" You don't, I told them. You don't try. That's very important: not to try, either for Cadillacs, creation or immortality. You wait, and if nothing happens, you wait some more. It's like a bug high on the wall. You wait for it to come to you. When it gets close enough you reach out, slap out and kill it. Or if you like its looks you make a pet out of it."

 

Charles Bukowski. Bukowski.jpg

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5555 Socrates, now your asking the question! VT6 is where I have now bought due to its location and mondern feel done it for me. Not many others like it in Patts but I heard that VT8 will be built next door to it in the future so buyer beware for your future views. I bought a front ocean facing double unit and going through the motions now.

 

If it was Jomtien I would have to recommend VT7 right on the beach at the start on the main drag. Good for future capitol growth and only a short ride to Patts.

 

See my thread below as you know already.

 

Cheers.

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I have seen a number of New Development Reps in Central recently – based on the success of View Talay 6 and its high occupancy levels –

 

 

Are these occupancy levels due to rentals or sales? My impression was that VT 6 was undersold.

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Are these occupancy levels due to rentals or sales? My impression was that VT 6 was undersold.

 

Talking about the likes of Dancewatchers - where units are generally full all year round - in line with the thread theme - buy to let condos

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Talking about the likes of DanceWatchers - where units are generally full all year round - in line with the thread theme - buy to let condos

 

But a prior post on this thread stated that VT was only 50% sold after 5 years.

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But a prior post on this thread stated that VT was only 50% sold after 5 years.

 

I am NOT talking about sales

 

DW run several units in VT6 that are almost always occupied - and this relates to my original question about Buy to Let and could someone replicate their business model in another cheaper location

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I would say look at the view at cosy beach,

only two mins walk to the beach and five mins from walking st

5 min? for about 2 km?? You walk very very fast! :rolleyes:

 

Who said Viewtalay 6 was a success.

They have been selling units for over five years now and it is still not at 50%.

I was thinking the same thing. :unsure:

 

Talay 6 is a success in terms of renting out to mongers

Try and book with Dance Watchers and see how much availability there is.

That means nothing! or rather means that DW should buy more appart in VT6...

Look on Internet or Pattaya Boards, there are always many owners looking for a desperate rent...

Some guys should advertise better because many nice condos for rent at 3/4 or less of DW price!

 

VT6 is a good place for mongers though, and I can understand that it's a good option for guys who come a few weeks several times a year. Probably a reason why VT6 looks always nearly empty. It's certainly not a place for living though, and noise is a big problem for many condos in VT6. View often is - or will be - a problem too...

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I am NOT talking about sales

 

DW run several units in VT6 that are almost always occupied - and this relates to my original question about Buy to Let and could someone replicate their business model in another cheaper location

 

I'm not sure how this works. I thought DW was acting as a rental agent for farangs who already own their own condos. Your post suggests that DW is renting on behalf of the builders who still own the unsold units.

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I'm not sure how this works. I thought DW was acting as a rental agent for farangs who already own their own condos. Your post suggests that DW is renting on behalf of the builders who still own the unsold units.

 

Where did I say they rent on behalf of the builders - something is getting lost in translation - lets just leave it at that its getting a little bit boring for everyone

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great thread and good info...

 

I am looking to buy a condo But NOT for renting...

 

i checked internet but you always get tourist info...

 

I want somewhere close to the action but i want the 5 star treatment. i.e security, pools, beach, laundry ect ect ect...

 

Money is not an issue, but i dont want to go OTT..

 

Can anyone suggest any good spots... dont mind getting Taxi as not a cheap charlie but i want action close by...

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great thread and good info...

 

I am looking to buy a condo But NOT for renting...

 

i checked internet but you always get tourist info...

 

I want somewhere close to the action but i want the 5 star treatment. i.e security, pools, beach, laundry ect ect ect...

 

Money is not an issue, but i dont want to go OTT..

 

Can anyone suggest any good spots... dont mind getting Taxi as not a cheap charlie but i want action close by...

 

How much are you willing to spend ? How big the condo you looking for ? I bought two Condo, 40 sqm and a 80 sqm in Pratamnak Hill in 2005 and very happy with em. Will be looking to sell one in 2025-2035. Unless i get the offer i cant refuse.. :rolleyes:

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How much are you willing to spend ? How big the condo you looking for ? I bought two Condo, 40 sqm and a 80 sqm in Pratamnak Hill in 2005 and very happy with em. Will be looking to sell one in 2025-2035. Unless i get the offer i cant refuse.. :rolleyes:

 

1 or 2 bed option open and money is open but its a long term place for myself so comfort and style wanted but no going OTT on ££££££

 

its the area/site/building that will be important for me as not looking to make a profit or rent.. its for me and i can party but at same time chill.

 

i will google pratamnak hill and have a goosy gander.

 

cheers jockey king

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How much are you willing to spend ? How big the condo you looking for ? I bought two Condo, 40 sqm and a 80 sqm in Pratamnak Hill in 2005 and very happy with em. Will be looking to sell one in 2025-2035. Unless i get the offer i cant refuse.. :rolleyes:

 

Cheers Jockey King,

 

this info is perfect... been googling and this is the spot for me...

 

just found a flat which sold me with this statement

 

" Ground floor restaurant with room service""

 

best i get going..

 

cheers. jk

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1 or 2 bed option open and money is open but its a long term place for myself so comfort and style wanted but no going OTT on ££££££

 

its the area/site/building that will be important for me as not looking to make a profit or rent.. its for me and i can party but at same time chill.

 

i will google pratamnak hill and have a goosy gander.

 

cheers jockey king

 

You be better off looking around yourself ... The prices of condos in Pattaya on internet are mostly over the top. Write down the condo you likes on your little book and pay a visit to the ones you are interest in , take your time and haggle the prices down as you can and decide.. One month or more, stay in Thailand will be perfect timescale if buying a condo... Best of Luck Stud Muffin

Edited by jocky king
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just found a flat which sold me with this statement

 

" Ground floor restaurant with room service""

 

Most places on the same street as your condo will have no problem delivering to your room once you track down their phone number.

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You be better off looking around yourself ... The prices of condos in Pattaya on internet are mostly over the top. Write down the condo you likes on your little book and pay a visit to the ones you are interest in , take your time and haggle the prices down as you can and decide.. One month or more, stay in Thailand will be perfect timescale if buying a condo... Best of Luck Stud Muffin

 

Thanks for the info, all very welcome.. :GoldenSmile1:

 

I have no timescale so its cool for me to think.. its been the spot i have been struggling to find.. and just from google its very Me.!!

 

the ball is rolling.

 

the internet does give you tourist prices but if indeed they are offering new complexs with hotel standards then my boat is floating..

 

time will tell.. but thanks for the Spot... cheers JK

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