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  #46  
Old 28-10-2020, 02:03 PM
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Re: Legal Lobang in Thailand

Quote:
Originally Posted by fleaz View Post
if have min 10 mil cold cash? best is to do 'kai fark' of land deed
legal n almost 0% risk
borrower manage to pay back, u still earn interest
borrower cannot pay back, u eat land deed
borrow run away, u eat land deed
land deed amount confirm higher than loan amount
but have to be cold money cause it will be stuck in loan or deed
most rich people does this in thailand n acumulated land deed over few generation
my friend just gave a 7mil loan for a land in samui direct deduct 6 month interest. bank evaluation of the land is about 20mil. now it seems like the borrower is unable to pay back. now going to eat land but owner want to nego to take back deed to split deed n sell to pay back
but we cant own the land, unless under a company name and as usual, in company ony 49% unless the other half is own wife
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  #47  
Old 28-10-2020, 02:08 PM
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draven78eric draven78eric is offline
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Re: Legal Lobang in Thailand

Quote:
Originally Posted by fleaz View Post
if have min 10 mil cold cash? best is to do 'kai fark' of land deed
legal n almost 0% risk
borrower manage to pay back, u still earn interest
borrower cannot pay back, u eat land deed
borrow run away, u eat land deed
land deed amount confirm higher than loan amount
but have to be cold money cause it will be stuck in loan or deed
most rich people does this in thailand n acumulated land deed over few generation
my friend just gave a 7mil loan for a land in samui direct deduct 6 month interest. bank evaluation of the land is about 20mil. now it seems like the borrower is unable to pay back. now going to eat land but owner want to nego to take back deed to split deed n sell to pay back
if go to Court, most likely will rule to the owner. They will still give benefit of doubts to their own Thai people.
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  #48  
Old 28-10-2020, 02:09 PM
fleaz fleaz is offline
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Re: Legal Lobang in Thailand

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Originally Posted by draven78eric View Post
but we cant own the land, unless under a company name and as usual, in company ony 49% unless the other half is own wife
yes sorry i forgot, i assumed people talking here should know
the deed has to change name to the (loaner) thai name at tee din
  #49  
Old 28-10-2020, 02:18 PM
fleaz fleaz is offline
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Re: Legal Lobang in Thailand

Quote:
Originally Posted by draven78eric View Post
if go to Court, most likely will rule to the owner. They will still give benefit of doubts to their own Thai people.
no no, this is a legel process which need to process at tee din to change ownership of the land and sign contract for the loan. of cause loaner name has to be thai

actually my friend who does this a lot told me borrower actually more scare than the loaner. cause loaner want to eat the land instead of only earn interest. so on the last payment instatement they disappear so that borrower cannot pay n try to eat the land as if borrower did not repay. if this happen, borrower should go to the police station n take photo together with the money n poilce as evidence that go sue in court if loaner refuse to change land name back. but i think this should be very rare cause if any loaner does this. future who dare to go to him for loan anymore
  #50  
Old 28-10-2020, 03:09 PM
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Re: Legal Lobang in Thailand

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Originally Posted by Humlea View Post
Agree... 2 million property not a good idea. Every time recession this group take the hardest hit. When times are good the rental didn't go really high too... as it's the largest group.

10 x 2 million is 20 millions and about 800k SGD... I rather buy a small condo in SG or 2 HDB 3-4 room... At least I know beside my property won't suddenly build a cement factory or something. Even if recession rental price drop also nvm... at least confidant it will pick up soon.

Like in Rayong - Chonburi area very scary. A small town beside few big factory boom town charlie. Shophouses, mooban keeps building... and last year due to thai baht too strong business started to go to Viet/Indon the factories forced to reduce manpower. 4 factory layoff more than 1200 workers and all these people that invested in that town cry like shit.
looking at bangkok only or chiangmai.. Will know after buying 1-2 properties and see if its worth to buy more. I'm only aiming at lower end property, so should be easier to rent out (lower rent) or near to a university.
  #51  
Old 28-10-2020, 03:11 PM
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Re: Legal Lobang in Thailand

Quote:
Originally Posted by fleaz View Post
if have min 10 mil cold cash? best is to do 'kai fark' of land deed
legal n almost 0% risk
borrower manage to pay back, u still earn interest
borrower cannot pay back, u eat land deed
borrow run away, u eat land deed
land deed amount confirm higher than loan amount
but have to be cold money cause it will be stuck in loan or deed
most rich people does this in thailand n acumulated land deed over few generation
my friend just gave a 7mil loan for a land in samui direct deduct 6 month interest. bank evaluation of the land is about 20mil. now it seems like the borrower is unable to pay back. now going to eat land but owner want to nego to take back deed to split deed n sell to pay back
i like this method. but i think need a good lawyer to enforce the agreement.
  #52  
Old 28-10-2020, 03:23 PM
shorttime shorttime is offline
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Re: Legal Lobang in Thailand

Quote:
Originally Posted by fleaz View Post
no no, this is a legel process which need to process at tee din to change ownership of the land and sign contract for the loan. of cause loaner name has to be thai

actually my friend who does this a lot told me borrower actually more scare than the loaner. cause loaner want to eat the land instead of only earn interest. so on the last payment instatement they disappear so that borrower cannot pay n try to eat the land as if borrower did not repay. if this happen, borrower should go to the police station n take photo together with the money n poilce as evidence that go sue in court if loaner refuse to change land name back. but i think this should be very rare cause if any loaner does this. future who dare to go to him for loan anymore
Dont the local banks provide loan to the borrowers? or they not qualify to get loan?

My wife tells me to buy a land and the seller will accept instalments, where we pay her X amount per month for X years. But i told her there's no guarantee that seller will transfer the land at the end of the payment and if seller refuses to transfer, how?

I read news of thai soldier shooting their CO, OC due to such land dispute where i believe CO or OC was accepting the installments but in the end did not transfer the title deed.
  #53  
Old 28-10-2020, 03:49 PM
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Naka_Timo Naka_Timo is offline
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Re: Legal Lobang in Thailand

Quote:
Originally Posted by shorttime View Post
Dont the local banks provide loan to the borrowers? or they not qualify to get loan?

My wife tells me to buy a land and the seller will accept instalments, where we pay her X amount per month for X years. But i told her there's no guarantee that seller will transfer the land at the end of the payment and if seller refuses to transfer, how?

I read news of thai soldier shooting their CO, OC due to such land dispute where i believe CO or OC was accepting the installments but in the end did not transfer the title deed.
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  #54  
Old 28-10-2020, 03:57 PM
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old_yet_horny old_yet_horny is offline
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Re: Legal Lobang in Thailand

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Originally Posted by TomMAffolter View Post
Mr old_yet_stupid, do you know what implication is, maybe you are not aware as people of low intellect are often not aware of such usage in human language, just as a monkey wouldn't understand such things.
So you used the words "rich" in quotations , word cheap and word whores in Viet. This would all imply cheapcharlie fucking whores in Vietnam, and from the posts I'm the only one here based in Vietnam.
See what i did earlier, i never named you but by implication i called you a dumbass, see how that works?


Cheap charlie keep trolling.
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  #55  
Old 28-10-2020, 05:45 PM
fleaz fleaz is offline
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Quote:
Originally Posted by TomMAffolter View Post
I agree with you that in PRINCIPLE this is a good idea, but look at what happened in Chicago, banks lend out money on property valued at for example 200k give 180k loan, now the borrower defaults, banks repossess. Great right like you describe, but problem now is market drops and now the property only worth 100k. So in this case now the property vacant, the bank has lost 80k, the borrower also lose out. This is even without thinking about the legal and administrative costs of "eating the land". Just walk up with the contract say sorry buddy but you cannot pay so now please leave?

Just like I give you simple idea, go some country like say Japan, with low interest loans eg 2% borrow 10mill usd, then come to say Vietnam where interest on deposits is 8%. Bingo gain 6% on 10mill = 600k usd. So easy right? Now look at the actual details, you got connections get 10mill loan, bring money vn pay taxes. What about currency fluctuations, what if Vn bank default.
Im not rubbish your idea, I'm just saying the details and process how to achieve idea is even more important. Im sure many people have idea of smart phone, but there is only one Iphone.
sorry my englang not good so im not that clear in explaining. this is not an idea, this is already a practice long time in thailand. no bank involve, only pay the bank to evaluate the land value. person A use land as deposit to borrow money from person B, land deed will be changed to person B name legally until loan is repay. thats should be it in general terms. but u guys can as in details your thai wife or friend about 'kai fark tee din char note' there are some law regulating this private loan

Last edited by fleaz; 28-10-2020 at 06:02 PM.
  #56  
Old 28-10-2020, 06:05 PM
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Quote:
Originally Posted by shorttime View Post
Dont the local banks provide loan to the borrowers? or they not qualify to get loan?
yes most of these borrower should be credit blow or cannot wait. the bank loan process is super long n tired. they might even be rejected by si sa wad
  #57  
Old 28-10-2020, 11:49 PM
Happyman007 Happyman007 is offline
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Re: Legal Lobang in Thailand

Quote:
Originally Posted by shorttime View Post
looking at bangkok only or chiangmai.. Will know after buying 1-2 properties and see if its worth to buy more. I'm only aiming at lower end property, so should be easier to rent out (lower rent) or near to a university.
Was having same idea to buy 10 condo for passive income 8 years ago....end up now only bought 4 units to rent out, but keep the rest in unit trust, stocks etc in sg.......now waiting to see the govt condo for PR scheme really or not, then maybe will buy more in future.

Reason for not buying 10 condo because we're too lazy to deal with too many tenants and keep seeking to rent although we have property agent to help.....end up 1 word is LAZY lah. (otherwise this 10 x 2 or 2.5 millions baht condo rental for 8-10k each is very workable).........end up the other 4 more condo money goes into 2 benz of 4 mil each

But looking at the rental yield of about 5% and property appreciation of about 30% since 6 years till now, think the total return for condo i bought 6 years ago about 60% gain (rental 5% x 6 = 30% plus condo bought was 2 mil and now market value about 2.6mil).....the other 1 condo bought earlier only 1.5 mil and now about 2.5mil.
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  #58  
Old 29-10-2020, 10:57 AM
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Re: Legal Lobang in Thailand

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Originally Posted by TomMAffolter View Post
prove my point stupid men use simple words keep sentance short as mind can not comphrehend big ideas basically just hungry then eat, full go shit hence these simple posts funny thing is you call me a troll yet you were the first to troll me


U do have some common sense (which is out of my expectation..) hungry people eat, when full and need to shit people shit. Smart people like you are opposite? You eat shit when you are hungry? Lmao..
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  #59  
Old 29-10-2020, 12:09 PM
fleaz fleaz is offline
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Re: Legal Lobang in Thailand

Quote:
Originally Posted by TomMAffolter View Post
Yes I understood your original post, its like pawn broking but with land.
My question is have you personally done it?
Im saying often when looking from outside, without actually experiencing it, it always seems easy.
You are dealing with people banks wont touch, they wont touch for a reason. Banks definitely have more resources than I do, so unless im connected to mafia have someone go break arm leg, or maybe my in-laws are brown mafia.
I agree with all your points, im just saying that it will be quite difficult to execute and not so simple.
thats the point, these people are very desperate and willing to pawn their land for a loan of a very much smaller value compare with the evaluated land. you land evaluate 10mil, i will only give you 2 mil loan, take it or leave it. no risk for loaner cause land will be transfer to loaner name. no need for mafia cause this is a legal process. and for anyone with these amount of very cold money (money that just sit in the bank doing nothing, not even needed for any emergency) confirm have plenty of 'friend'. but for me, this is a bit black heart money thats all
i have close friend doing this since his father generation and family accumulated many land deed over the years
and im not saying its easy, 1st of all you need to be very cold cash rich. asset rich cannot do this
  #60  
Old 29-10-2020, 12:13 PM
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Re: Legal Lobang in Thailand

Quote:
Originally Posted by shorttime View Post
Dont the local banks provide loan to the borrowers? or they not qualify to get loan?

My wife tells me to buy a land and the seller will accept instalments, where we pay her X amount per month for X years. But i told her there's no guarantee that seller will transfer the land at the end of the payment and if seller refuses to transfer, how?

I read news of thai soldier shooting their CO, OC due to such land dispute where i believe CO or OC was accepting the installments but in the end did not transfer the title deed.
Advise not to do this way, installments payable to the owner..There will be alot of dispute later on, if the owner decided back stab you.
Owner can used his relatives or children,gang up to claim he is not in stable mind to signed the agreement contract initially. If the owner die half way, the next of kin can say they didnt know about this and void it. Unless maybe you can try with a witness the village head or a Sup from the local police station, pay them a coffee money will do.
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