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Buy to let hotel investment in Thailand - SCAM??

Discussion in 'The Courtyard Café' started by Manager, Apr 11, 2013.

  1. Manager

    Manager Don't mess with me Old Timer

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  2. Raiders

    Raiders Alfrescian (InfP) + Mod Old Timer

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    The only thing I know is, if it is such a good investment, the people involved would have kept it for themselves. It is the same for those "Get Rich" seminars. If they knew how to become rich, then they do not have to conduct seminars and teach people.
     
  3. johnny333

    johnny333 Alfrescian (Inf)

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    If you have $$$ you can buy properties in Malaysia, Thailand, etc & simply rent them out yourself. However you must do your own homework. Heck you can even buy hotels in Thailand & run it yourself.

    To put money investing in some hotels may be risky. It will be run by strangers. You don't know if they are honest or even good managers?
    I have no direct knowledge & this is just my opinion:)
     
  4. JWNY

    JWNY Alfrescian Old Timer

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  5. SgGoneWrong

    SgGoneWrong Alfrescian (Inf)

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  6. eErotica69

    eErotica69 Alfrescian (InfP) Old Timer

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    First and foremost, please check whether the hotel unit belongs to the investor or not. That means that the title deed of the unit actually belongs to the investor.

    If it is in situation that investos own a certain % of the company and the company own the hotel, then it is a tricky situation.. Example the company own all 200 units of the hotel. On paper, you own 5% of the company, so they will tell you that effectively, you own 1 unit. They got all legal agreement done blah blah blah..

    Sounds good? Think again!

    What if the company run road? What if the Legal arrangement is not that Legal after all (some sort of proxy)? Is proxy legal in Thailand? Dun listen to the Thai lawyer alone, check with the Thai Government!

    To be safe, just buy a property under your own name with the title deed registering you as the sole owner!

    At the end of the day, it is as simple as "If it is too good to be true, it is not true"!
     
    Last edited: Apr 11, 2013
  7. eErotica69

    eErotica69 Alfrescian (InfP) Old Timer

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  8. Logisex

    Logisex Alfrescian Old Timer

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    Saw similar schemes in Bali whan I went to the property expo in MBS a few weeks back.

    Never invest in such schemes and those timeshare or land banking. Just buy direct.
     
  9. johnny333

    johnny333 Alfrescian (Inf)

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    Just to let people know that in Pattaya a studio apt condominium can cost as little as $60,000.
     
  10. JWNY

    JWNY Alfrescian Old Timer

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    bros, sorry i didn't see the messages earlier. Aussie might be difficult, not that I know off. UOB has strong presence in Thailand (compared to DBS and OCBC)

    eRotica, the loan offered by UOB Singapore but will be facilitated by Thailand UOB at some point eventually. http://www.uob.com.sg/assets/pdfs/personal/loans/uob_thailand_homeloan_form.pdf

    Q6. How do I repay my loan?
    If you take up a UOB International Home Loan-Thailand to purchase a residential property, your instalments over the repayment period will be calculated based on your full loan amount. Your first instalment will commence one month from the date of disbursement of loan. For example, if your loan is disbursed on 25 June, your first instalment will be due on 25 July. Your last repayment date will be the final maturity date stated in your Loan Agreement with the Bank. We will assist you in opening a personal account with one of our branches in the loan currency of your choice for you to settle your monthly loan instalments.

    There is also a loan facility from Bangkok Bank - http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Loans/Pages/Default.aspx
     
    Last edited: Apr 16, 2013

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