A good time for property investment?

[Jockey]

Jockey wrote:

If I do decide to buy again, I'll put it in my girlfriend's name and let her lease it to me over 30 years.

I've seen this said on this board several times. Is there some advantage to be gained by being seen to be leasing your house? I guess its only a cover for something ie I don't suppose for one minute you'll actually be paying her rent.........or will you?

What is the disadvantage of putting the property in your partner's name, and appearing as a kept man?

Not sure if your asking sincere questions or trying to make some point.

Is there some advantage to be gained by being seen to be leasing your house? - How can someone see you leasing a house?

I guess its only a cover for something ie I don't suppose for one minute you'll actually be paying her rent.........or will you? - No

What is the disadvantage of putting the property in your partner's name, and appearing as a kept man?[/ - Don't understand the question. It comes across as the beginning of a joke. Is there a punchline?

[Big Boy]

Jockey,

Sorry if the questions came across wrong - they were sincere. I have seen several postings referring to buying a house in the partners name and leasing for 30 years.

I thought it might have been a dodge for example to be able to get a certain class of visa because you had to be seen as having your own home (purchased or rented). I honestly didn't understand why, and was interested to learn.

I myself will be buying in my wife's name, and I was simply wondering if there was any advantage in appearing to be renting it back off her - maybe having a rent book to produce to prove I was a householder.

Personally, I am quite happy to be seen as a kept man living in my partner's house, but didn't want to miss out on some perks - if there were any to be had.

Hope this clarifies what I'm asking, and confirms my sincerity.

[Burger]

Jockey Wrote:

I think you are missing the point Burger. Granted, the laws have not been changed in the last two years, but the military government are trying to stop foreigners from using loopholes in the law in order to own land

So you can not point to any new law/regulation either. Just a an assumption that they are 'trying' to do something.

By the way the new Government have passed two new regulations where they could have put a stop to foreigners buying property, but in both cases they exempted it instead.

Burger

[buksida]

I think you are missing the point Burger. Granted, the laws have not been changed in the last two years, but the military government are trying to stop foreigners from using loopholes in the law in order to own land

Absolutely. Burger, please stop and listen for a second.

The purpose of this thread I started was to highlight a series of recent changes, crackdowns and tightening of loopholes made by this government or the previous to make it harder for foreigners to live here IN GENERAL. These apply across the board to property, companies, work permits, investment and even tourism, a trend that I can't see changing in the future. What their ultimate goal is who knows?

Yes, of course there are still ways around land laws but these will be closed soon too. FOREIGNERS CANNOT OWN LAND IN THAILAND.

I am seeing this process of "tightening up" after living in the country and working totally legally, paying taxes, conversing in the language, and now supporting a wife and two children for several years. It gets harder for me to stay here every year, god knows what its like for people with no ties to the country or "new arrivals" looking for a home in the tropics. Hence my decision not to invest at the moment which I shall stick to until some stability in the political and economic environment returns. That doesn't mean I wont continue to live here (as long as I'm permitted) - I love the place - and yes my situation is different from retirees who don't care about all that stuff and have a pot of money to spend.

Thats the point.

[sargeant]

Buksi your posts are bang on but be careful i am stood accused of misleading people for making a joke out of the ludicrous statement that passing away is an UNLIKELY event and my notification of posts has stopped for some reason mind boggling

[Burger]

I think you are missing the point Burger. Granted, the laws have not been changed in the last two years, but the military government are trying to stop foreigners from using loopholes in the law in order to own land

Absolutely. Burger, please stop and listen for a second.

The purpose of this thread I started was to highlight a series of recent changes, crackdowns and tightening of loopholes made by this government or the previous to make it harder for foreigners to live here IN GENERAL. These apply across the board to property, companies, work permits, investment and even tourism, a trend that I can't see changing in the future. What their ultimate goal is who knows?

Yes, of course there are still ways around land laws but these will be closed soon too. FOREIGNERS CANNOT OWN LAND IN THAILAND.

I am seeing this process of "tightening up" after living in the country and working totally legally, paying taxes, conversing in the language, and now supporting a wife and two children for several years. It gets harder for me to stay here every year, god knows what its like for people with no ties to the country or "new arrivals" looking for a home in the tropics. Hence my decision not to invest at the moment which I shall stick to until some stability in the political and economic environment returns. That doesn't mean I wont continue to live here (as long as I'm permitted) - I love the place - and yes my situation is different from retirees who don't care about all that stuff and have a pot of money to spend.

Thats the point.

Yes Buksi, fair comment, but I just asked a simple question about any new law that restricted foreigners buying property, as I keep hearing about 'clampdowns on property buyers' and no-one came up with one.

Yes I agree there are general clampdowns on certain foreign activity, but my point was that each and every one of them exculded property investors (apart from developers).

I respect yours and others views on here that they will get round to property one day, but I do not agree and believe that they welcome this kind of investment.

I also believe one day the company route will change when they offer longer leases or A.N.Other solution.

Only time will tell hey.

Burger

[Mack111]

I try not to get involved in the property buying or not buying debates since its black and white from the posts who has bought and who hasn’t bought and these sometimes lead into a “told you so debateâ€

[Jockey]

Jockey,

Sorry if the questions came across wrong - they were sincere. I have seen several postings referring to buying a house in the partners name and leasing for 30 years.

I thought it might have been a dodge for example to be able to get a certain class of visa because you had to be seen as having your own home (purchased or rented). I honestly didn't understand why, and was interested to learn. - Its the opposite of a dodge! By putting your land in a Thai name you are making the ownership of land more secure (depending on the dependability of the Thai girlfriend / wife of course!)

I myself will be buying in my wife's name, and I was simply wondering if there was any advantage in appearing to be renting it back off her - maybe having a rent book to produce to prove I was a householder. - One advantage is she can get a loan from the bank using the land as security. This could also be seen by some as a distinct disadvantage!

Personally, I am quite happy to be seen as a kept man living in my partner's house, but didn't want to miss out on some perks - if there were any to be had. - If no one knows your circumstance, no one will know your a "kept man". May be you want to be a "Toy Boy" Big Boy?

Hope this clarifies what I'm asking, and confirms my sincerity.

[Big Boy]

Jockey wrote:

May be you want to be a "Toy Boy"

I wish............trouble is that at my age, my partner would have to be in her 70s!!

Thanks for the clarification.

[Burger]

I myself will be buying in my wife's name, and I was simply wondering if there was any advantage in appearing to be renting it back off her - maybe having a rent book to produce to prove I was a householder

Big Boy, hope I'm not teaching you to suck eggs, but if putting in your wife's name, best option is at the same time in the land office that you buy the land, also enter a 30 year lease on the chanote for yourself.
In the lease contract have the solicitor enter a buy-out clause for you. Then IF the relationship goes bad at all, you can buy the land.

You can also make a contract that says you OWN the house sitting on the land.

Burger

[sargeant]

Jockey i have gone down the mortgage in my girfriends name been down that road 2 years now
bullet proof

[Jockey]

Jockey i have gone down the mortgage in my girfriends name been down that road 2 years now
bullet proof

Yes - I agree! Is it a true mortgage or a loan? Here's an option I was thinking of:

1. Girlfriend buys property in her name (funded by me)

2. She signs a 30-year lease to me.

3. She gets a loan from the bank with the property as security.

4. The loan money goes back into my pocket.

5. The loan is repaid by me.

If the relationship should end, the girlfriend would need to sell the property to repay the loan, which would be difficult to do with the 30 year lease in my name. She would need to trust me to repay the loan and I would need to trust her to fulfill her lease obligations.

Is this a good plan or have I overlooked something? All feedback welcome!

[Big Boy]

Burger wrote:

Big Boy, hope I'm not teaching you to suck eggs

Not at all - I'm a total novice, and appreciate all of the advice that is given.

[sargeant]

Jockey it is a straight mortgage we paid 10% deposit and borrowed the rest from the bank she had a credit rating with the bank because i insisted she put the monthly stipend in the bank rather than go around town with 3 arse cheeks and i was worried she would get robbed. I have to say it was not because i was a degree holding clever sob or a wide boy from benidorm working oracles but it just happened and i did not realise how good it was until all this crap started over companys and leases came up the max i can loose is the deposit and as that was also from the monthly stipend i havent really lost that
As for your other system i wont comment because i dont know it sounds ok but then so did forming companies when it first started
The important thing is mrs jockey must get a credit rating put 30/40 grand a month in the bank and take it out each month for about 6 months and she should get a credit rating then apply for a mortgage
another spin off is your capital stays earning interest or at least its working for you
I have to be careful as i stand accused of misleading people so pm me if you want any more details
I will point out i have nil zero zilch not a sausage buggerall vested interests in property my home is bulletproof i do not work and my visa is bulletproof unlike others on this thread (The Gentleman that puts estate agent at the bottom of his posts excepted)

[Mack111]

Searge

you don’t mislead anyone, its a forum, its meant for debating you views, I’m sure people use the forums to help make a discussion but I doubt anyone uses it as a all out decision making tool.

Keep posting you opinion, its good to hear them and don’t worry people will make up there own minds

cheers