Hi, Peter, 28 from Auckland, living in Bangkok

Hi guys,

Been reading through books and the forums here trying to educate myself more, lots of inspiration, and useful information. I don't have any IP mentors so learning through the site and other peoples experiences is great. I looking forward to taking part in the conversation.

Originally I am from Auckland, but like most kiwis have a ton of family in Aus, many now Aussie citizens, I myself grew up in Brisbane.

I have been living Thailand for the past 8 years, running my own online marketing agency, and doing various other entrepreneurial projects. I own a single property over here. NZ doesn't look like a viable investment for me at the moment, so I am looking to buy into northern Brisbane where i'm familiar with first.

I found it was almost impossible to receive financing because of my situation, so I will be buying my first IP outright (who said immigrants never bring money into the country lol), and hopefully I can then use that equity and rental income to get financing for future property investments.

Sorry bit of a long post, my end goal which i'm sure others have is, financial freedom.

Thanks,
Peter

p.s. I saw other people had also read Rich Dad, Poor Dad does owning property through corporations like Richard suggests in the book viable in Aus? I'm trying to find more info on it, since I will be non-resident for tax purposes for at least the next few years until I decide to stay in Thailand or move back to Aus or Nz.

 

Hi Peter. Welcome. I go to a few tax conferences in Bangkok and love the city.

Property in Bangkok is weird. Totally different system from what I can see.

 

Hi Peter, welcome to the forum.

Just curious what the property market in Bangkok is like? Is it booming just like in melb and Sydney ?

 

I'd say Bangkok is in a booming period. It's hard to compare prices to Aus, but comparing to what prices were, to what they are now and how they relate to the rest of the country, it has increased dramatically.

Lately we've been inquiring on plots of land still available that are not to far out from the city or train lines, and its expensive. A decent size condo can cost in the $400-600k range, and you cannot know the state of the project in the next 5 - 10 years, and I believe there is a huge oversupply.

Thailand is also very unstable, poor urban planning, its a risky market. The place I bought was an older 4 story townhouse, about 180sqm of indoor space, 2 car parks inside, 1 road side. Renovated everything, 4 bathrooms, all new electrical, lighting, new ceilings. We run our office from it, and live upstairs. I expect if we rented it out we'd easily get a 8-9% yield from the property cost + renovation.

 

That's cool, it's quite interesting, no foreign ownership aloud (ways around that though) and no rates at all haha.

 

Interesting
How much do you estimate the properties price there have increased from say 2011 till now?

 

I wasn't looking in the market then, so I cannot say for sure. But a plot of land across the road from us, the asking price was about $350k, sign shown on Google maps probably about 3-4 years or so ago. Now it is listed for $530k.

 

That the question a lot would ask about property in places like where you are based,how do you safely and in legal terms get around who name goes on the title..??..

 

The most common way for holiday home investors is putting the property under a company that you control. But risky though, as companies that arent properly active can get scrutinized. Another way is by loan agreement with a Thai and/or 30+30 lease with a Thai you trust.

Foreigners can own condos though as long as Thai nationals own 51% of the units in the building. Condo investment here is not appealing though.