Looking for an investment opportunity in Nong Khai

Post by **businessman** » July 15, 2005, 11:10 am

How about a guesthouse to earn a few Baht:

http://www.homesonsale.co.uk/index.php? ... t&id=18645

laphanphon · Post by **laphanphon** » July 15, 2005, 11:33 am

i don't know about the "earning a few baht", but i'll have some of whatever he is smoking, got to be some good ----. that place has got about as much character as local amphoe office, or lotus parking lot. i could build a much nicer one for 13 mill baht. i am guessing the only time it has guests is during Nage Fireball Weekend.

good luck selling the place

laphanphon · Post by **laphanphon** » July 15, 2005, 11:51 am

i'm sorry, i apologize, that was out of line. i've never stayed there, only visited a couple times debating whether to stay on not. not.

ok, 13 mill baht, providing you live in house, that gives you 4 units to rent. i'm guessing 3 small, one large, 600/1100 per night, rented out everynight, with not overhead, no electric bills, no taxes, no employees, no pool service, no maintence. so you have no bills, 100 % occupancy, AND

it will only take you over 9 years to break even on your investment. provide, you have -0- expenditures. now that same 13 mill in a 5 % account, will return 650000 baht a year, 54000 baht a month, more than double what many people live on in the northeast, farangs that is. hmm, to invest or not to invest.

good luck selling the property

Post by **farang** » July 15, 2005, 11:55 am

Post by **Dakoda** » July 15, 2005, 12:41 pm

Hey, the Web site is well done! Best I have seen locally, by my standards!

Hey, maybe that EU site where it is posted for sale, droped the dot!

and where are those 5% accounts?

Post by **businessman** » July 15, 2005, 2:13 pm

You can get 5 per cent in a good old British building soceity account.Get the interest,convert to Baht at 73 and you're laughing.

Post by **JimboPSM** » July 15, 2005, 4:41 pm

Post by **lee** » July 15, 2005, 5:15 pm

HBOS Online savings account has a 5% gross interest rate and I think there are a few more banks offering the same rate, however most of these rates are offered to paper free online card-less accounts, but you have the option to move your money around at the push of a button where ever you are in the world.

Post by **BangkokButcher** » July 15, 2005, 11:25 pm

Heres a good site for comparing UK savings accounts:

[URL removed at siteowner's request]

Post by **Paul** » July 16, 2005, 8:02 am

Last time interest was added to my account (bkk Bank) it was 0.75%, and also to be taken into account is that they charge you for having the account (couple of hundred every 6 months) and should you use an ATM outside of your home town or another banks ATM you will be charged for the transaction also.

I have heard of foreigners here in many different banks (including some branches of Bkk Bank) being told that foreigners are not allowed interest on their accounts.

Don't you just love fair and equal treatment in thailand

laphanphon · Post by **laphanphon** » July 16, 2005, 10:12 am

there's a new bank in town, next to showtime videos on big c/aek udon hospital road that gives 1.25 %, wow. the gal at bangkok bank told me, strange, steering the customers to competition. i've decided to withdraw and take to the states, since i will be there anyway, oh joy. get that 5 % or more, researching trust funds now, non taxable, see what me and my brother come up with. yes i hate the 150 baht charge every so often, and 10 baht atm charge when not from my branch withdrawl, and even charge for deposit, fee and percentage if not done at my branch. you are charging me to deposit/withdraw my own money that you make a profit on. sorry, no more. this after i had to buy the atm card, 300 baht, and a second card, after the first malfunctioned, not my fault, and told at the time, no fees will apply, since i bought the card to begin with. they must of just meant no atm fee at my branch, failing to mention all the other charges. i can understand why local without big money don't have accounts. i would cost a weeks wage to buy the atm, and yearly service charge alone. i'll keep the account open just to transfer funds here for living expenses, as cash advance (actually debit) are free, but atm withdraws are not, due to my banks charge of one whole dollar, but BB limites the amount to withdraw. another satisfied customer.

do to this new bank, and interest rate, i was told the other banks will be raising there rates also, wow, a whole 1/2 %.

Post by **businessman** » July 16, 2005, 1:27 pm

The way the Thai economy appears to be going at the moment i don't think its financially wise to have to much money in Thai Baht.The old dollar is having a good run.

Post by **JimboPSM** » July 16, 2005, 5:26 pm

You need to take a very careful look at why the US Dollar is having a good run.

It has been tracking the Federal Reserves nine consecutive monthly interest rises of 0.25% per month - there is a limit as to how long these increases can continue.

The shift in interest policy nine months or so ago has produced a reversal in hot money flows, but that reversal will be short lived unless the structural problems of its massive budget and trade deficits can be corrected.

Putting some numbers and context on these massive deficits:

The US budget deficit for 2004 was $412.55 billion (412,550,000,000 when you include all the zeros) when compared to the population of 292,800,571 (US Census Bureau estimate) which equates to $1,409 for every man woman & child. Deficit for 2003 was a mere $377.14 billion.

The US trade deficit for 2004 was $665.9 billion which equates to $2,274 for every man woman & child. Deficit for 2003 was a mere $530.7 billion. Current monthly deficits exceed $50 billion.

I will leave you to judge how sustainable these deficits are and what the longer term effect of them will be on the international value of the greenback.

Post by **john2005** » July 17, 2005, 10:40 am

Short term may be good to be in dollars,but long term loads of pound notes is a good idea.

Post by **businessman** » July 18, 2005, 11:16 am

it will only take you over 9 years to break even

As the only time you would have a guest is the Bung Fai festival, break even would in reality be about six hundred odd years.

Post by **BangkokButcher** » July 19, 2005, 12:39 am

Have I just found an old ad, or is the meeting place up for sale again??

http://www.viviun.com/AD-2574/

Post by **businessman** » July 19, 2005, 10:57 am

It's the old one for sure.He talks about his palm business and the fact that he wanted to keep the visa side.

Post by **farang** » July 19, 2005, 1:01 pm

yep very old add.......

Post by **BangkokButcher** » July 19, 2005, 1:11 pm

Ah well that explains it then, must admit I was surprised to see nothing about 'fishing' in it

Post by **farang** » July 19, 2005, 1:20 pm