Introduction: newbie from Switzerland living in North Thailand looking for knowledge

Introduction: newbie from Switzerland living in North Thailand looking for knowledge

Investor · Chiang Mai, CM · Member since 2014 · 6 posts · 1 vote

Hi, 

I'm a Swiss citizen who moved to Thailand 5 years ago for work (I am project manager for a swiss software development company). I am 30 years old and even though I like my job and can live more than comfortably with what I earn, I want to start investing in real estate. 

First of all I know I am not in the US and most of the people here are about the US. I was wondering if I was the only one here or are there any other people in South East Asia?

I live in the north of Thailand, and was recently able to buy a good condominium in Chiang Mai. Since I bought it last year its value has increased at least 10%, this is how I came to the idea to start real estate investment. 

I am lucky enough to know a few people around here who invest in real estate and almost every day I am questioning them about what and how they did it, what are they doing next... 

I try to read information on this website and apply it to my local market. There are a lot of differences, but also a lot of information that I can apply. An example would be that the law here doesn't allow foreigners to buy land, so buying / selling houses is not an option for me. Another is the speed at which the city is expanding. It is out of control, just last year 3 huge new malls have been built, and hundreds of new apartment buildings. 

I think this is enough of an introduction, I am very pleased to have found this forum and am looking forward to learn more from people here.

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  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    11y

    Hey @Max Ime thanks for introducing yourself! It's great to have you here! Don't miss The BiggerPockets Podcast - they are great for learning how others are finding success.

    Oh - and be sure to set up some Keyword Alerts- especially for "Chiang Mai" so you'll be notified when people mention it here in the forums.

    Thanks again for introducing yourself!

  • Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    11y

    Welcome to Biggerpockets!

    This is an amazing place and you will learn tons. So a great place is to look around the blogs, forums and listen to the podcasts for different niches. Search in the search at top for those topics and read old forums. If you see a post you enjoy check out the persons signature. Many of us including myself talk about our strategies, styles, niches and business model on our website. So definitely check that out as it is an amazing additional resource. For example, my blog is about while working full time, buy and hold investing, 0% Down Rentals, Personal Properties turned rentals, Long distancing investing, self-managing 3,000+ miles away. Definitely list your blog or website in your signature, if you have one. Its a great additional networking source.

    Look forward to seeing you around! Let me know if I can help!

  • Investor · Chiang Mai, CM · Member since 2014 · 6 posts · 1 vote
    11y

    Thank you for your replies. 

    I have a long term plans in different RE domains. 

    First I am going to buy one condo to rent out each year for the first five years, after that always sell the oldest and buy 2 new ones with the profit. I don't need any short-term profits so the rental money will only be used to pay off the loans and the rest for reserve.

    I focus on the "A" style luxury condos as it seems like more and more rich Chinese, Koreans and especially the richer Bangkok people are looking at North of Thailand for a second home. Luxury condominiums 

    In parallel I am looking to get more information on domains that are behind here. What comes to mind is retirement homes, or rehabilitation centers / resorts (I came up with this idea when I realise the price people pay for those back at home in Switzerland). Those are just longer term ideas so far.

    I don't have a blog so far, I am waiting to see how things go in the next months and if it all works out the way I expect I will gladly share my experience with other people. 

  • Investor · Tampa, FL · Member since 2010 · 263 posts · 159 votes
    11y

    Hi @Max Ime 

    Welcome to BP. I am also based overseas (in Madrid Spain) although I invest in Florida & North Carolina with local business partners and travel there regularly. I think you´ll find this website very useful for general advice on getting started, finding business partners, trying different strategies, securing finance, managing tenants etc.

    What it won´t do is teach you anything about the local property conditions in Thailand or SE Asia. This site is almost exclusively based on US property. That being said, there could be some local experts around. I think it would be a good idea to post the next deal you´re thinking about purchasing, I´m sure a lot of members (me included) would be happy to look at it and help you crunch the numbers.  

  • Investor · Nagano, Nagano · Member since 2014 · 66 posts · 18 votes
    11y

    Hi @Max Ime  and welcome to BP. I'm based in Japan with my investment properties being here and also in Canada. If you'd like to know more about the most active investment real estate market in Asia just let me know. Good luck with your investment!

    Walter

  • new york, NY · Member since 2015 · 67 posts · 11 votes
    11y

    Hi @Max Ime

    I'm Swiss as well and will move to NYC in 2-3 months... I am very new to the REI community too but would highly appreciate to connect anyway to gather ideas etc. in the future. In the mean time, good luck continuing and pursuing your plan.

    Sandro

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Max Ime 

    Welcome to Bigger Pockets. BP is full of resources. You will find resources here from blogs to pod casts and forums. You can also send messages to members. This is one of my favorite features of Bigger Pockets especially for asking specific questions.

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