UA-610852-2 Issue 166|Retire to Pattaya Thailand UA-610852-2

Retire to Pattaya Thailand!

 

 Issue 166

My biggest mistake, yet, in Pattaya?

According to some long-time Pattaya expats I made the ‘biggest mistake’ that I could make here.

According to them this was a ‘bad decision’ that will certainly cause me to ‘lose a lot of money’.

My error?

Did I buy ‘bar’? Build a house in Issan and put it in a Thai girl’s name?

Get married to a ‘former’ bar girl?

The answer is.......

…..I purchased a condominium here (View Talay 6, condo building).

And here were four ‘key’ criteria I used when selecting it:

1) The Location is PRIME.

Across from the beach, next to Central Festival Shopping Center thus convenient to ANYTHING

2) Easy to rent.

Since it is in the ‘heart of the city’, with an excellent view, rental demand is strong.

3) Can be owned in ‘foreign’ name.

Unlike houses and some condos, NO ‘company’ name was required. It is 100% legal in my name thus requiring no loopholes for ownership.

4) The building is fully built and functioning.

Buying ‘off-plan’ in Thailand is RISKY as developers go bankrupt, the actual construction does not match the brochure, and areas like Pratumnak and Jomtien becoming over built.

Summary

Buying property in Thailand IS risky but using these criteria can minimize it. And as I stated, some her believe I have made an error.

Years ago, here, I cautioned against buying property here.

And my statement remains true: ‘Money is spent in Thailand not invested’.