Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

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OldBoyRacer
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Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by OldBoyRacer » Wed Feb 07, 2018 5:07 am

Hello all,

Newbie here.

So in brief I met Saranya my Thai gf 3 years ago whilst traveling at Sala Deang BTS in Bkk.
We are both in out mid -forties, she is widowed with grown up kids.

I live in Manchester, single, no kids and am thinking of selling my house, taking the equity and using it to (with Saranya because farangs can't own land), buy a 400sqm plot and build 2 houses with shared pool.

The idea is to live in 1 and rent the other as an income source along with Saranya's established massage spa in Bkk.

In return for my investment, she will sign half her Spa over to me - established 10 years, good area, 15 staff.

Questions:

Am I mad?

Visa is a concern, as we aren't married, but I will post that on the visa section.

If we split up, what rights would I have in terms of my house on her land - I have read about Usafructs - do these stand up?

What rights would I have as Mr 49% shareholder in a Thai owned Franchise Spa?


Thank in advance.

Fandango
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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by Fandango » Wed Feb 07, 2018 8:48 am

The rule of thumb is Thailand is both laws and legal interpretation favour Thais absolutely. Whatever, your 49% ownership of the Bangkok Spa is worthless if it came to financial say or division and the same would apply to the proposed land purchase.
Eyes wide open!

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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by brianks » Wed Feb 07, 2018 9:26 am

Sorry to say but it sounds like you are dreaming. Put your feet on the ground for a long while before you entertain these exotic money hungry and possibly losing projects.

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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by oakdale160 » Wed Feb 07, 2018 9:52 am

You ask the question--Am I mad?
No, almost certainly not, but what you are is naive, foolishly trusting, and suffering from the delusion that this is an orderly, fair and law respecting country--it is NONE of those things.

Come to HH. RENT do NOT buy--live here AT LEAST a year and then reassess the project.
99% you will not proceed and will owe all the HHF posters who are telling you not to do it a huge slap up night out.

Jose
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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by Jose » Wed Feb 07, 2018 10:42 am

dont do it,

am pretty sure you could rent your current property out in the UK

giving you a income , while retaining a asset that will increase in value,

never listen to business advice from Thai women even if they are honest they have no grip on reality.

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Nereus
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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by Nereus » Wed Feb 07, 2018 11:19 am

Here is some good advice:

May you be in heaven half an hour before the devil know`s you`re dead!

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J.J.B.
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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by J.J.B. » Wed Feb 07, 2018 1:47 pm

OldBoyRacer wrote:
Wed Feb 07, 2018 5:07 am
Questions:

Am I mad?
First, welcome to the Forum and I wish you every happiness in Thailand, whatever you choose to do. I don’t think you are mad and only recommend you put money in Thailand you are comfortable walking away from. I’m sure Saranya is lovely and trusting etc. but by all accounts someone else also thought that once too.

Very soon, the UK will be the only country you have a realistic right to live in freely and peacefully. I wouldn’t burn my bridges there and would always want something to go back to should the need arise.

:cheers:
"A man who does not think for himself, does not think at all."
Wilde

PBbeacher
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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by PBbeacher » Wed Feb 07, 2018 4:01 pm

Jose wrote:
Wed Feb 07, 2018 10:42 am
dont do it,

am pretty sure you could rent your current property out in the UK

giving you a income , while retaining a asset that will increase in value,

never listen to business advice from Thai women even if they are honest they have no grip on reality.
agree with all of that Jose!

OldBoyRacer
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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by OldBoyRacer » Wed Feb 07, 2018 4:41 pm

Thanks for the honest replies guys.

People in England to my face have been more 50:50, do:don't.


So to add a bit more detail if I may? I'm not normally one to bang on about myself...

Sadly I got diagnosed with MS a couple of years ago, and the psychological stress of the diagnosis in short meant I couldn't focus at work, so they paid me off £27k (hadn't been there long.)
My condition at the moment is mild, but having no kids I need to make hay whilst the sun shines. I have been trying to monetise my passion by flipping classic cars, but it's too hit and miss - one bad buy wipes the profit from the previous 2...

I have no pension pot, no job to give up, only my old Mum (tough one), and a brother in Derby.

Options:

*Rent my house in the Uk - the rent would just about cover mortgage and rental agency fees, so zero net income. I would be cap in hand to Saranya for Leo's, not a good look.

*Sell up - have a total of around £100k to buy 400sqm in a good area, build 2 small 2/3 bed bungalows, live in 1, rent the second, or both in high season.
This would I think give a modest income of 30k baht, plus income from my gf's massage shop.

*Do nothing, stay in Manchester, lose the woman I love, and look for low paid work under a disability umbrella, and live a lonely life.


It's a massive roll of the dice. Saranya won't stick around forever; the idea to sell up and build 2 houses was totally my own - she wanted to come to the UK, but visa regs and me not earning would have been difficult.

Also there is the long term health care worries, NHS, against the Thai system. Insurance wouldn't cover my pre-existing condition, and there is no magic pill. I am not talking medication currently.

Heavy stuff to think about - most of my piers are at that cruising to retirement stage, but hey, I'm past the anger and resentment phase!

Thanks in advance, be honest please.
Bobby.

Jose
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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by Jose » Wed Feb 07, 2018 5:20 pm

so surely your best option for yourself is to use the 100K wisely

am guessing that is 100k once you add the 27 k to the money gained from the sale,

how about this for a idea.

buy a small flat out rights for around 60K , peterboro or Hull or Liverpool , must be near train station.

buy a 2nd one with a buy to let mortgage putting a 35 k deposit down , keep the monthly payments down to enable a small profit.

both will go up in value and you should get around 500-600 rent from each, minus one month per year for agency fee etc.

you will also have a 5k buffer to help you should you have expensive medical bills.

OldBoyRacer
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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by OldBoyRacer » Wed Feb 07, 2018 5:38 pm

Very interesting idea. Thanks Jose, that's the sort of thinking I need.

The £27k has all but gone on expenses, bills, car loses over 18 months, about £8k left, so it is focusing the mind somewhat! (After the first 12 months trading and £74k turnover, my net profit was almost exactly £0.)

Another option is to sell, bank the money and go and rent in HH, and get a feel for the place / idea.

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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by Spitfire » Wed Feb 07, 2018 7:10 pm

Short answer...NO, it's highly risky.

Long answer...come back in 5 years and ask if you are still with the same girl.
Don't read beauty magazines...they will only make you feel ugly - Baz Lerman

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Vital Spark
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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by Vital Spark » Wed Feb 07, 2018 7:18 pm

OldBoyRacer wrote:
Wed Feb 07, 2018 5:38 pm
Another option is to sell, bank the money and go and rent in HH, and get a feel for the place / idea.
If you rent your property in the UK, would the income be enough to cover the mortgage and give you enough money to rent a place here? I agree with JJB, that it's probably unwise for you to burn your bridges in the UK.

I'm sorry to hear that you're suffering from MS, and you obviously need to factor in the cost of any medical treatment you may need here either now or in the future.

Renting here for the time being is the way to go. Don't get pressurised into buying land and building a house.

Good luck with whatever decision you make.

VS
"Properly trained, man can be a dog's best friend"

oakdale160
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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by oakdale160 » Wed Feb 07, 2018 7:42 pm

As I am sure you know the Medical care in Thai is unreliable and expensive. Another advantage of the 'come and rent" plan is that it gives you the flexibility of returning to the arms of the NHS when needed.

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StevePIraq
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Re: Possible land purchase 2.5km outside HH centre. Planning to build houses. Advice please.

Post by StevePIraq » Wed Feb 07, 2018 8:10 pm

Remember one other very important aspect. You only have the right to live here one year at a time, who knows what ting tong law may be passed in the future.

Sadly Thai ladies no matter how nice have a massive desire to own property and they don't care that you pay for it all.

If you wish you can PM me for my tale of Thai lady, marriage, divorce and ending with just about zero.
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali

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