Re-location advice

[TonyCheong2]

Originally Posted by Ninja_Assassin

I oso kenna with a Singkie guy who resides in Guangdong..... damn bastard.
He used to cheong Batam... AC and now frequents HCM...... returning to SGP only during the CNY holidays. That's why I am very careful and selective of which samsters to meet up or cheong with nowadays.

555 care to PM me who this bastard is?

Cheong solo best lah.
No conflict.

[Happyman007]

Originally Posted by Ray84

As for condos in CM/BKK, can you share why you invested in 2 condos? My research told me that liquidity will be an issue since it's easy to buy and hard to cash-out when needed. Rental income is also not guaranteed since tenants are hard to secure. Hence not very keen on this route..

1st condo bought around 8 years ago 45 sqm for just 1.2 MB and current market price 2.2 MB with rental income 10k monthly (rental yield now is 10% from 1.2MB)

2nd, 3 & 4th condo bought 2.2 MB around 2 years ago and current market price around 2.6MB, rental income on airbnb for 3 unit avg around 60k monthly, or if I rent on yearly contract maybe around 36k monthly. (rental yield around 6% on yearly contract and 10-12% if rent in Airbnb.....tenant easy or hard to find is depend on your pricing too, if I stick to market rental of 15k think i can never get any tenant, so is either I accept on 12k/month for a year contract or I just do Airbnb while waiting for good tenant with 10-12% yield)

As to liquidity is depend on your selling price, I will normally take a 10-20% off market price if I need a quick sales. so 1st condo if I sell at 1.8 - 2 MB I think should be easy, and the other 3 units if I sell at 2.2 to 2.4 MB guess people rushing to buy it too.

Anyway I'm keeping it and pass it on to my kids for their future living expenses so no intention to sell and also told my wife NEVER sell any of the properties in CM.....she can sell off my HDB and another office unit if I not around

If you're working on Bkk condo will be another diff condition.....you'll need to buy near to MRT/BTS and rental yield is much lower compare to CM.

[naemlo]

Originally Posted by Ninja_Assassin

That's why I am very careful and selective of which samsters to meet up or cheong with nowadays.

Sama sama.... most samsters will remember u only when they need u.

[smile_santa]

Originally Posted by Happyman007

1st condo bought around 8 years ago 45 sqm for just 1.2 MB and current market price 2.2 MB with rental income 10k monthly (rental yield now is 10% from 1.2MB)

2nd, 3 & 4th condo bought 2.2 MB around 2 years ago and current market price around 2.6MB, rental income on airbnb for 3 unit avg around 60k monthly, or if I rent on yearly contract maybe around 36k monthly. (rental yield around 6% on yearly contract and 10-12% if rent in Airbnb.....tenant easy or hard to find is depend on your pricing too, if I stick to market rental of 15k think i can never get any tenant, so is either I accept on 12k/month for a year contract or I just do Airbnb while waiting for good tenant with 10-12% yield)

As to liquidity is depend on your selling price, I will normally take a 10-20% off market price if I need a quick sales. so 1st condo if I sell at 1.8 - 2 MB I think should be easy, and the other 3 units if I sell at 2.2 to 2.4 MB guess people rushing to buy it too.

Anyway I'm keeping it and pass it on to my kids for their future living expenses so no intention to sell and also told my wife NEVER sell any of the properties in CM.....she can sell off my HDB and another office unit if I not around

If you're working on Bkk condo will be another diff condition.....you'll need to buy near to MRT/BTS and rental yield is much lower compare to CM.

Pardon my ignorance, but why is BKK's rental yield lower than CM considering BKK is the more popular destination of the two?

[Ray84]

Originally Posted by TonyCheong2

Your research is spot on with possible liquidation problems in times of emergency use.

If fully paid up that means you'll have a big sum of money being "locked up" and unable to leverage.
If leverage and take mortgage loan the interest rate is very high in Thailand then the yield is not worth it.
Might as well put the funds into AAA rating bonds for fixed income and sleep well every night.

Fully agree after I read about the liquidity issue.. hence now slowly building up egg nest.. To partake in such Aaa rating bonds, u need at least 200k cash.. yield slightly lower at ~6% but definitely safer!😬

[Ray84]

Originally Posted by Happyman007

1st condo bought around 8 years ago 45 sqm for just 1.2 MB and current market price 2.2 MB with rental income 10k monthly (rental yield now is 10% from 1.2MB)

2nd, 3 & 4th condo bought 2.2 MB around 2 years ago and current market price around 2.6MB, rental income on airbnb for 3 unit avg around 60k monthly, or if I rent on yearly contract maybe around 36k monthly. (rental yield around 6% on yearly contract and 10-12% if rent in Airbnb.....tenant easy or hard to find is depend on your pricing too, if I stick to market rental of 15k think i can never get any tenant, so is either I accept on 12k/month for a year contract or I just do Airbnb while waiting for good tenant with 10-12% yield)

As to liquidity is depend on your selling price, I will normally take a 10-20% off market price if I need a quick sales. so 1st condo if I sell at 1.8 - 2 MB I think should be easy, and the other 3 units if I sell at 2.2 to 2.4 MB guess people rushing to buy it too.

Anyway I'm keeping it and pass it on to my kids for their future living expenses so no intention to sell and also told my wife NEVER sell any of the properties in CM.....she can sell off my HDB and another office unit if I not around

If you're working on Bkk condo will be another diff condition.....you'll need to buy near to MRT/BTS and rental yield is much lower compare to CM.

Thanks for sharing Happyman007! Very insightful post! I guess to reach your level, I will need to strike lottery to have the capital to do such capital intensive investment..😁

[Ray84]

Originally Posted by smile_santa

Pardon my ignorance, but why is BKK's rental yield lower than CM considering BKK is the more popular destination of the two?

My guess is because condo are pricey in bkk than in cm.. and rental yield is a function of your rental income over your purchase price..

[TonyCheong2]

Originally Posted by Ray84

Fully agree after I read about the liquidity issue.. hence now slowly building up egg nest.. To partake in such Aaa rating bonds, u need at least 200k cash.. yield slightly lower at ~6% but definitely safer!

Also can go for REIT stock counters as quantum no need so high.

Originally Posted by Ray84

My guess is because condo are pricey in bkk than in cm.. and rental yield is a function of your rental income over your purchase price..

For own stay pay in full is ok for a peace of mind but if for investment to get rental income ideally must leverage and take mortgage loan if not cash flow will be very tight.
All being said the days of low risk, high returns from real estate investments are a thing of the past.
Let's use bro Happyman007's condo investments as an example.

1st Condo bought 8 years ago -> Yield 10% p.a
2nd, 3rd & 4th Condo bought 2 years ago -> Yield 6% p.a.

To get a yield of 6% p.a. from a THB2.2 Million investment might as well invest in REITs with similar returns.
Lesser quantum and risk. No need to fuss over maintenance, tenant matters, etc.
Unrealised capital gains from property is not a gain until you realised (liquidate) it.

[Happyman007]

Originally Posted by smile_santa

Pardon my ignorance, but why is BKK's rental yield lower than CM considering BKK is the more popular destination of the two?

Originally Posted by Ray84

My guess is because condo are pricey in bkk than in cm.. and rental yield is a function of your rental income over your purchase price..

Yes Bangkok condo is over price and over supply.........but soon CM will also follow, just like some condo in Nimman and night market area, slightly over price now.

Originally Posted by TonyCheong2

Let's use bro Happyman007's condo investments as an example.

1st Condo bought 8 years ago -> Yield 10% p.a
2nd, 3rd & 4th Condo bought 2 years ago -> Yield 6% p.a.

To get a yield of 6% p.a. from a THB2.2 Million investment might as well invest in REITs with similar returns.
Lesser quantum and risk. No need to fuss over maintenance, tenant matters, etc.

True also with REITs come with higher return and less headache, but not much capital gain as compare to property. But again to invest in property one need to stay in Thailand to handle rental and other issue......ONLY for those intend to long stay in Thailand can consider.

[Happyman007]

Originally Posted by Ray84

Thanks for sharing Happyman007! Very insightful post! I guess to reach your level, I will need to strike lottery to have the capital to do such capital intensive investment..😁

No need to strike lottery lah, in fact if you stop buying at all you can save more money and buy a sgd 100k shoebox condo is CM faster.........

Remember when I was in sg 20 years ago, I spend sgd 200 weekly on 4D (no toto and only 2 days sat sun 4D), monthly 800 or yearly 10k......total 20 years just 2 days 4D weekly I can save SGD 200k !!

So if I not leave sg and venture overseas, I will still be the same or worst spending more on 4D, Toto and sure more than 1k monthly.......so now I always tell my friends, I strike more than SGD 200k from 4D until now and 2 units of the condo come from this 4D money

[Emirates1]

the truth is to relocate anywhere in the world u need $$$ and the advantage of thailand is it's relatively low standard of living (due to the low salaries they earn)

so if u come from a country with a strong currency and have settled yr family or financial obligations back home, then by all means come & make thailand yr new home, language barrier and cultural differences notwithstanding...

in my case about 5yrs ago i had the (mis)fortune of being diagnosed with PD and as such began the saga of trying to come to terms mentally with the disease and finally, after accepting my fate, as the financial institution i had worked for 27yrs was undergoing a "reorganisation"at that time, it seemed like the perfect time to "cash out" & live the balance of my life the way i wanted to before it became a physical n mental impossibility. anyways, to make a long story short, i took what the bank had given me n i bought a condo in bangkok and told my wife (now ex) what i needed to do n flew to BKK which would now be my new home . of course, the family part was not as pleasant nor as easy to reconcile as the $$$ part but i did not want to waste what precious years i had left stuck in a world that slowly but surely had turned into a dark place.

so armed with the $$$ from my retirement fund and the small monthly insurance payout that i get due to PD, i just continue to just live my life the best way i know how and with financial care and handling. Sorry for the long story but i hope it helps wth the decision making process of whether or not one should relocate to thailand,.

[Happyman007]

Originally Posted by Emirates1

the truth is to relocate anywhere in the world u need $$$ and the advantage of thailand is it's relatively low standard of living (due to the low salaries they earn)

so if u come from a country with a strong currency and have settled yr family or financial obligations back home, then by all means come & make thailand yr new home, language barrier and cultural differences notwithstanding...

in my case about 5yrs ago i had the (mis)fortune of being diagnosed with PD and as such began the saga of trying to come to terms mentally with the disease and finally, after accepting my fate, as the financial institution i had worked for 27yrs was undergoing a "reorganisation"at that time, it seemed like the perfect time to "cash out" & live the balance of my life the way i wanted to before it became a physical n mental impossibility. anyways, to make a long story short, i took what the bank had given me n i bought a condo in bangkok and told my wife (now ex) what i needed to do n flew to BKK which would now be my new home . of course, the family part was not as pleasant nor as easy to reconcile as the $$$ part but i did not want to waste what precious years i had left stuck in a world that slowly but surely had turned into a dark place.

so armed with the $$$ from my retirement fund and the small monthly insurance payout that i get due to PD, i just continue to just live my life the best way i know how and with financial care and handling. Sorry for the long story but i hope it helps wth the decision making process of whether or not one should relocate to thailand,.

Sorry to know your story and is sure not easy to live alone. Family is still the main structure of my life while all others can be negotiated. J

ust a suggestion to stretch you $$$ further perhaps you can consider moving to CM, lower cost of living and more friendly helpful people around as compare to BKK.

[vargen]

Originally Posted by smile_santa

Hi bros,

I noticed in this forum have many lao jiao cheongsters and some of you guys are Singaporeans working/residing in Thailand. It's my lifelong dream to relocate there eventually (Singapore too expensive and boring).

Question is, how much do I need to be making a month to live decently there if i were to secure a job there? (have a decent condo, no need car because BKK traffic is terrible and taxis are cheap, and can support a family)

Also, if i were to retire there eventually? what are the essentials I would need to look out for? like how much cash reserves should i need if I'm no longer working with an additional life expectancy of 25 years ?

Thanks in advance!

Hi

I've just took up a job with a thai public company and moved here since 3months ago. Still trying to adjust to living here thus couldn't offer more detailed advice which i am sure the rest of seniors could. So i would rather talk about my own experience here.

I am on first batch of expats employed by this company, though on expat payscale, still i gotta take a paycut of 20% from my sg job. As for gauging, my assistants with bachelor degree and 5-7yrs of work experience are drawing 22-25k monthly salary. I am not sure about property price as my accommodation is provided, but i guess a studio apartment (>40m2) rental near bts at central area goes for min 25-30k monthly. Anything lesser than that will be further places like udomsuk or punnawithi. Food price are quite reasonably cheap unless for restaurant, e.g. zhap cai png or noodle lunch at foodcourt in my office block cost about 40-50baht. Workwise i have experience much difficulties as i can only speak conversational thai and most of documents and stuff are still in thai. And importantly, anyone moving here have to adjust their mentality at work especially kan jiong spider type as i find generally they have lower sense of urgency towards work issue. I haven't been partying or drinking much here as i don't have much friends here yet. Lao jiaos here please correct me if i mentioned any wrong info above.

Cheers

[TonyCheong2]

Originally Posted by Emirates1

the truth is to relocate anywhere in the world u need $$$ and the advantage of thailand is it's relatively low standard of living (due to the low salaries they earn).

Ten years ago if any person says Bangkok is cheap I still can agree but not any more.

Thankfully (not totally) due to the elite power structure in Thailand the wealth distribution is very imbalanced.
Many provinces are under developed and living expenses are low.
If really need to stretch your dollar and have quick access to Bangkok then may have to stay in the nearby provinces such as Chonburi liao.

[Ray84]

Originally Posted by Emirates1

the truth is to relocate anywhere in the world u need $$$ and the advantage of thailand is it's relatively low standard of living (due to the low salaries they earn)

so if u come from a country with a strong currency and have settled yr family or financial obligations back home, then by all means come & make thailand yr new home, language barrier and cultural differences notwithstanding...

in my case about 5yrs ago i had the (mis)fortune of being diagnosed with PD and as such began the saga of trying to come to terms mentally with the disease and finally, after accepting my fate, as the financial institution i had worked for 27yrs was undergoing a "reorganisation"at that time, it seemed like the perfect time to "cash out" & live the balance of my life the way i wanted to before it became a physical n mental impossibility. anyways, to make a long story short, i took what the bank had given me n i bought a condo in bangkok and told my wife (now ex) what i needed to do n flew to BKK which would now be my new home . of course, the family part was not as pleasant nor as easy to reconcile as the $$$ part but i did not want to waste what precious years i had left stuck in a world that slowly but surely had turned into a dark place.

so armed with the $$$ from my retirement fund and the small monthly insurance payout that i get due to PD, i just continue to just live my life the best way i know how and with financial care and handling. Sorry for the long story but i hope it helps wth the decision making process of whether or not one should relocate to thailand,.

Thanks for sharing! I wish you all the best in whatever you are doing and that you get to have the time of your life till the very end