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brutox

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  1. http://www.independent.co.uk/news/world/europe/julian-assange-sweden-drop-charges-wikileaks-ecuador-embassy-london-sexaul-assault-rape-us-a7744181.html
  2. Hey, mroovah .. I wouldn't want forum members to get the impression that the 8% net annual yield you achieve is by any means common, nor easily achieved without some inordinate competitive advantages .. I really rather side with Insomniac and Daryl on the yields. Your condo was completed in 2010 .. historical data indicates that asking prices for units there were then THB 55,000/m2, which would be THB 4.29m on your 78m2 unit. [ based on an income valuation approach, I valued this condo in post #33 above at THB 4.56m .. a 6% difference .. close enough ]. You can push your yields up a bit by: Self managing, to eliminate the property management fee .. equivalent to 5-8% charge against your gross annual income; Leasing it yourself, to eliminate 1 month agency fee paid for leasing commissions, equivalent to an 8% charge against gross annual income. Leasing it long-term at below market (which you are doing), to reduce vacancy losses (another 1BR unit in your building is asking THB 22,500 .. will probably negotiate a 10% discount to THB 20,250 .. you are at 18,000, which is 12% below that, which is attractive enough to maintain occupancy in a high vacancy market). Keeping it off the books .. to avoid taxes on anything above THB 150,000/year (not much there). You cannot avoid the annual common area maintenance fee, which in this building is probably THB 30-40/m2/month .. about 13-17% of gross annual revenues on a 78m2 unit (THB 28,000-37,000/year). So .. starting with a gross annual rental income of THB 216,000 (18,000/month x 12 months) and a property cost basis or THB 4.29-4.56m: The gross annual yield would be 4.7% to 5.0%; Deducting common area maintenance fees of 28,000-37,000/year .. the net annual income is THB 179,000-188,000, producing a net annual yield of 3.9% to 4.2%. This is squarely in the range of return expectations for the market, and what Insomniac and Daryle suggested above. The only way I can see to improve that is to have purchased the condo at a deeply distressed price .. to get an 8.0% net annual yield, the gross annual yield would have to be at about 9.2% .. to get that, assuming leasing at market clearing rates, the property cost basis would have to be about THB 2.4m, or THB 30,100/m2 .. nearly 45% below this condominium's historical market low asking price, and 55% below its historical market high asking price. Now, there might be truly inordinate competitive advantages not accounted for here, but this is a pretty basic exercise for anyone contemplating making lots and lots and lots of money investing in income producing residential property in Pattaya. Simple yield analyses are not higher order maths .. the calculations are very straight forward. [ mroovah, I am guessing this is not what you described above as "the right condo in the right building" to easily achieve that 8.0% net annual yield .. 'cause easy, it ain't! ] Potential investors would do well to understand this. Good luck on the rental, mroovah .. this does appear to me to be a very good deal for someone. Cheers!
  3. For those interested in understanding condominiums as investments in Pattaya, I see in this a couple of useful data points: The market value of income-producing properties in Thailand is set by return rates that are generally acceptable to Thai investors .. for Thais, a 5.0% annual yield is generally an acceptable return expectation. Take Pheat's example .. a THB 3.3m home, comparable to where he lives, for which he pays THB 12,000/month (presumably the same builder and floor plan): The annual rental income is calculated as [ 12,000/month x 12 months x 95% = 136,800/year ]; then, The annual yield is calculated as [ 136,800 / 3,300,000 = 4.2% annual yield ]. This is a bit below the market clearing rate (5.0%) for this type of income-producing property. Now, take mroovah's property: He owns a very nicely appointed condominium .. typical for an owner-occupied property .. probably over-improved for the rental market, but mroovah lived there as a home, not as an investment (an important distinction) .. if he cannot rent it at something more than THB 18,000/month, he is considering selling it. Instead of the THB 18,000/month rent to which he is prepared to discount, let's assume the market rent for his condominium is THB 20,000/month .. using the same math as above, this condominium is worth approximately THB 4.56m [ (20,000 x 12 x 95%) / .05 = 4,560,000 ] .. this is based on it's value as an income-producing property at a market clearing 5.0% annual yield, which is the predominant calculus for valuing a property here. On its 78 m2, THB 4.56m is roughly THB 58,000/m2 .. nicely fitted out, (presumably) fully furnished, and well-situated in a secondary location. So, mroovah .. I am curious about this, as a practical case study .. how long ago did you buy your condominium and will you get your money out of it if you sell it now? You might understandably not wish to comment, but this is a great case study for anyone (other than moronic babbling property agents) who think that investing in income-producing residential property in Pattaya is a great way to make lots, and lots, and lots of money. mroovah bought a home, not an investment .. my guess is that he will get his money back (or most of it .. perhaps not more than he invested), as long as he is not forced to sell into a depressed market .. but, as income-producing investments, these perform very poorly (both the cash flow and the asset appreciation). [ Footnote: The above calculus was kept simple, simple .. the returns auger-in horribly if you own a rental property that sits vacant for months and months to get leased; and, it assumes no property management fees, agency rental commissions, taxes, maintenance expenses, juristic fees, etc. .. this is a gross return from which these costs must be deducted. ] Hey, mroovah, hope you find a tenant for this unit .. it looks quite nice, but as I mentioned above, it might be over-improved as a rental property that will generate a fair return to you in this trade area .. that makes the field of prospective tenants quite small.
  4. Sadly, Thailand’s notoriously deadly highways reaped two more souls .. a father and son .. it just keeps going on, and on, and on .. Two Britons killed in Surat Thani crash 22 Apr 2017 SURAT THANI: A British man and his elderly father died and the man's mother was seriously hurt when their pickup truck crashed head-on with a trailer truck on a curve in Phanom district of this southern province on Friday night. The crash occurred at kilometre maker 16 on the Ban Takhun-Phanom Road in front of Phanom Uppatham Witthaya School in tambon Khlong Cha-oun, said Pol Capt Kanthapol Srisuksai, deputy investigation chief at the Phanom police station. The incident was reported at 8.30pm on Friday. Police and rescue workers found three injured British nationals -- two men and a woman -- trapped inside a Chevrolet pickup truck with a Phuket licence plate on the two-lane road. They were badly hurt and rushed to Surat Thani Hospital but the two men died shortly afterward. An overturned 18-wheel trailer truck carrying wood pellets, with a Nakhon Pathom licence plate, was found lying on its side about 10 metres away. Driver Parit Limpairoh, 23, was waiting for police at the scene, which was very dark. A police investigation found that the 44-year-old driver and his 82-year-old father were sitting in the front seat and the driver's 78-year-old mother was sitting in the cab. They were on the way to Phuket when their vehicle lost control at the curve, causing it to crash head-on with the trailer truck travelling in the opposite direction. Police believed the driver might have not been familiar with the route. They are continuing to investigate. Jintana Suwannarat, director of the Surat Thani office of the Tourism Authority of Thailand, said the Thai wife of the British driver had contacted authorities to take the bodies of the two victims for religious rites at Chalerm Prakiat in Nakhon Si Thammarat. http://www.bangkokpost.com/news/general/1236579/two-britons-killed-in-surat-thani-crash
  5. These f*cks went too far .. convicted of human trafficking in underage girls, employing undocumented foreign workers for the purpose of prostitution. Key to this story is what commonly passes as Thai justice: “Prasert Sukkhee, who also known as Kolak and is the owner of the massage parlour, and seven other suspects remain at large.” .. so, the owners of the operation get away .. the stooges they put on the tiger’s back take the wrap. Typically what follows is that the owners to go underground, payoff whoever they have to payoff to avoid arrest until the statute of limitations expires, after which they are welcomed back into polite Thai society .. as only few places in the world, the criminal class thrives here in Thailand. _______________________________________________________________________ http://www.bangkokpost.com/news/crime/1234779/nataree-massage-parlour-operators-sentenced-to-jail Nataree massage parlour operators sentenced to jail 19 Apr 2017 The Criminal Court on Wednesday handed down prison terms of up to 13 years to operators of the Nataree massage parlour in Bangkok for illegally procuring young and migrant prostitutes last year. The five defendants were sentenced for involvement in the operation of the massage parlour on Ratchadaphisek Road where migrant girls aged under 18 were found working in June last year. Prosecutors told the court the Nataree parlour employed eight foreign girls older than 15 years but younger than 18 for purposes of prostitution from April 10 to June 7 last year. Defendants were found guilty of human trafficking, having minors perform obscene acts and prostitution, housing illegally working migrants, illegally operating a massage parlour and illegally employing young workers. Pong-anant Khanakhet, supervisor of the parlour, was given accumulated sentences of 13 years on six charges, and Somprasong Soijit, managing director of PSS Entertainment Co which ran the Nataree, a total of 12 years and 6 months. They were also each fined 15,000 baht. Panarin Hanpatanakit, Atapha Laemae and Lapchulap Ngoentempiam were each sentenced to 8 years and 6 months in jail for procuring the young prostitutes. PSS Entertainment was fined 655,000 baht. The court said it had commuted the sentences by half because they had confessed. Prasert Sukkhee, who also known as Kolak and is the owner of the massage parlour, and seven other suspects remain at large.
  6. Buy the ticket .. take the ride.

  7. Yeah, Blueydog, I could have been more clear .. international hotel operator Golden Tulip Hotels was placed on the tiger's back by the notorious local Tulip Group (just as the Centara Group) .. the Golden Tulip Hotel's MD's complaint is how inextricably bound the two are purposely portrayed by Tulip Group's media releases and marketing pieces .. still, was it a mistake? .. his mistake? .. oh, yeah .. I am sure the corporate guys back in Paris kicked his 'nads about the conference room pretty good. Interestingly enough, Blueydog, the Pattaya Today link you cite above appears as an authentic business news report, authored by Jason P. Payne .. this guy is none other than Vice President of the notorious local Tulip Group .. deceptive advertorial .. no surprise, I guess .. positioning the (supposedly reputable) local media to stand in front of them. Hindsight is unforgiving of such egregious mistakes as getting into bed with guys as these .. and now the Golden Tulip Hotel brand in Pattaya, and perhaps beyond, is damaged .. fearless butterfly mistook the Golden Tulip Hotel operated property at which he stayed in BKK as owned by the notorious local Tulip Group .. Golden Tulip Hotels operates the Golden Tulip Essential Pattaya Hotel, which I believe has no relationship to these slime balls, but could now be easily mistaken as a part of this disgusting bunch. Disreputable companies hiding behind reputable companies and people is as old as the hills, and still a common practice here .. the notorious local Tulip Group hired well-known Boom Wongphudee, the popular former Miss Thailand, as their spokesperson to stand for them ... bad news for her .. http://www.bangkokpost.com/archive/buyers-of-centara-residence-condo-file-lawsuit/1210437 .. that must have damaged her brand value in the public's eye.
  8. Just processed my extension of stay yesterday at Thai Immigration in Chaeng Wattana .. the details of what is necessary are pretty well documented in the thread .. I thought I'd add a note on how to minimize the pain of the long processing time. When I applied for extension of stay last year, I noted that the bureaucrats process the applications far, far faster in the late afternoon than earlier in the day .. while there yesterday, I calculated the processing times. Here is the rate at which they called applicants from the queue: 08.30 - 11.00 ... 22/hour 11.00 - 12.00 ... 11/hour 12.00 - 13.00 ... none (lunch) 13.00 - 15.00 ... 15/hour 15.00 - 16.00 ... 31/hour 16.00 - 16.30 ... 44/hour I arrived at 11.00a and was #128 in a queue of 154 applications submitted for processing that day .. by 11.00a, they were on applicant #56 .. I not was called up until 4.00p, and didn't get out of there until 4.30p. So, if you arrive in the morning (when I suspect there is a crush of people waiting to get in), be prepared for a long wait unless you are amongst the first in line. Alternatively, I think the call is to be last in the queue .. the last applications are accepted at 3.30p .. these guys are bureaucrats .. they are not going to work later than 4.30p, so they really crank them out when quitting time is close (there were a few stragglers being processed when I departed at 4.30p, but not many). Conclusion: I arrived at 11.00a, and was #128 in the queue .. they were on # 56 .. I waited 5 hours before being called (lunch hour included). I could have arrived at 3.30p and taken queue number #154 (the last in line) .. they would have then been on about #111 .. I would have waited only 1-1/2 hours to be called. (Okay .., yeah .. I was just a little bored waiting my turn.) The problem .. late in the day, no taxis are then available to get back to BKK .. 15, or 20 people in the taxi queue in front of me .. only 2 taxis in 10 minutes, although the motorcycle queue was faster. The solution .. take the free shuttle bus from Door #1 (walk back through the building to get there), which will promptly deposited me on the main road in front of the complex (Chaeng Wattana Road) .. picked-up a taxi in minutes and made it to the Phayon Yothin MRT Station in 20 minutes and THB 100 fare, plus THB 15 road toll.
  9. I just did a quick check of Golden Tulip Residences on one of the more useful property referral web sites .. https://www.hipflat.co.th/en/pattaya/condo/golden-tulip-hotel-and-residence. On this web site alone, 334 unit buyers are trying to sell out of the project .. roughly 43% of the total units. There are even 13 unit buyers at Waterfront trying to get out from beneath their units .. https://www.hipflat.co.th/en/pattaya/condo/waterfront-suites-residences .. these guys are probably desperate to find unsuspecting innocents upon whom to dump these albatrosses. With no more disclosures than they make, these sellers might be close to committing fraud in a regulated market .. but, I guess that is the beauty of being a developer or property agent in Thailand, eh? .
  10. Hey, fearless butterfly .. I'd like to offer a point of clarification. The Tulip Hotel at which you stayed in BKK is operated by the Golden Tulip Hotel, not Pattaya's notorious Tulip Group .. for some years now, I've known the Golden Tulip Group MD, who just seethed when I asked if they were in any way associated with the notorious Tulip Group of Pattaya infamy. He claims that the MD of the notorious Tulip Group selected their name to purposely deceive people into believing they are the same company .. blood could have shot out of his eyes at the mere mention of these guys. Golden Tulip Group operates the Golden Tulip Essential Hotel in Pattaya (along with 230+ hotels in 45+ countries) .. you could be forgiven for thinking they are the same company, much to the advantage of the notorious Tulip Group .. and the disadvantage of the reputable Golden Tulip Group from whom they steal their hard earned reputation.
  11. 50-year foreign lease mulled 25 Mar 2017 The Finance Ministry is studying the issue of allowing foreigners to lease land in Thailand for up to 50 years as part of efforts to draw foreign direct investment, which it believes could provide further impetus for another property market boom. If the government amends the law governing land leases to foreigners, their leasehold real estate contracts could last for a maximum of 50 years and the rights could be transferable, said Finance Minister Apisak Tantivorawong. The land will return to their Thai owners at the end of the lease contract. It is highly likely the law can be amended, he said. A property market boom is expected, similar to before the 1997 Asian financial crisis, as foreign demand will be the driving force if the law is amended, said Mr Apisak. At present, foreigners are only allowed to own condominium units collectively of up to 49% of the total area of the project, while the Lease of Immovable Property for Commercial and Industrial Purposes Act BE 2542 (1999) grants maximum lease terms of 50 years if the lease is for industrial or commercial purposes, while it is 30 years for residential purposes. He said the real estate sector plays the most important role in the country's economy as it is highly linked with other sectors such as building and raw materials, decoration, electric appliances and banks. Mr Apisak said the property market is a reliable indicator of which way the economy is leaning, swooning before a bust and booming ahead of a recovery, so the market is one of the government's focal points. Separately, he insisted the rate stated in a draft bill on the land and buildings tax, recently approved by the cabinet, is the ceiling rate and the actual rates will be lowered. Once the new property tax goes in effect as expected next year, the tax will be levied on first homes and land used for agricultural purposes with appraisal prices starting at 50 million baht. The rate will be applied to the land value exceeding 50 million baht. The tax will also apply to second homes on a progressive basis, from 0.03% to 0.30%. The tax to be levied on vacant land will increase by 0.5 percentage points every three years until it is capped at 5%. The bill sets ceiling rates of 0.2% of appraisal value for land used for agricultural purposes, 0.5% for residences, 2% for commercial and industrial use and 5% for vacant or undeveloped land. For commercial and industrial use, the tax will be imposed at 0.3% for land value below 20 million baht, and 1.5% of land value starting from 3 billion baht. The land and buildings tax will replace the house and land tax and the local development tax, which have drawn criticism for being regressive and outdated. The draft bill, however, offers a 90% discount on the land and buildings tax for schools, while under-construction housing projects will get the same percentage reduction for three years, said Mr Apisak. He estimated the new property tax will generate around 60 billion baht a year for the local administration organisations, far above the 20 billion contributed by the house and land tax and the local development tax. Prasert Taedullayasatit, president of the Thai Condominium Association, said an extension of the leasehold period to 50 years from 30 would draw more investment from foreigners. The move would lead to more variety of property development and leasehold plots will have more value, he said. The longer time period helps landlords who don't want to sell plots, said Mr Prasert. "It would be good for the industry and the country. But the government should determine the scope or purpose of land use for leasing to prevent any effect on the country's security," he said. "For example, a foreigner leasing a rice field of 100,000 rai should not be allowed." A longer leasehold period would boost interest in land plots in prime locations, where land prices soared to nearly 2 million baht per square wah recently, said Mr Prasert. Surachet Kongcheep, associate director of property consultant Colliers International Thailand, said the amendment would make the government's large-scale land plots recently opened for bidding more attractive. "The government has many plots of large land offered for lease, but no single investors were interested as the lease period of 30 years is too short for a huge investment," he said. Most of these plots are owned by the State Railway of Thailand, including a Makkasan site sized around 500 rai, a 277-rai plot by the Chao Phraya River in the Khlong Toey area and a site of over 200-rai in Bang Sue.
  12. To understand Thai cultural values and behaviors, a person absolutely must understand the predominant faith .. written by a former Bangkok Post news editor, the article speaks for itself, and substantiates my belief that Thai cultural values and behaviors are all based upon and driven by 5 basic truisms, one of which is that Thai Buddhism is co-opted and is as much, or more, about animism as it is about the teachings of the Lord Buddha. An instructive read. _______________________________________________________________________ http://www.bangkokpost.com/opinion/opinion/1211953/the-bastardisation-of-thai-buddhism The bastardisation of Thai Buddhism WASANT TECHAWONGTHAM 10 Mar 2017 at 04:35 Many people believe they can make merit by releasing birds, without thinking about how the birds were caged - usually with great cruelty. (File photo by Patipat Janthong) If you've been in Thailand long enough, you would have noticed that Thais are always looking for an opportunity to make merit in the hope of gaining favour from the gods. If a tree sprouts flowers on its trunk, people will gather around it, pay their respects with incense sticks, and rub the trunk -- not to show tender loving care, but to see if some numbers may appear so they can put money on them in the lottery. If a mammal grows an extra tail, it's a supernatural sign. So people gather around it, pay their respects and look for anything that resembles numbers that will bring them luck. If water mysteriously spouts from a hole in the ground, the water must have magical properties that could either cure diseases or bring good luck. If a tree is believed to bring bad luck because its name implies it, well, why not change its name? Suddenly, it becomes an auspicious breed. If you feel the gods have not looked kindly upon you, maybe it's because your name does not fit. Go ask a monk for a more auspicious name that will turn your life around. Or you can go to any of numerous temples, buy some caged fish, birds, or eels and free them so they carry your bad luck away. If you want a long life, well, of course, make a wish upon a pond where turtles are kept. Turtles have long lives, you see. So by throwing a coin in the pond, you can wish for a long life. Simple logic! It doesn't matter that all of the above makes little sense and is illogical. They are products of our mindset stemming from our animistic belief system. This is not to say animism is bad. The belief system has its own logic, and at one time served as a guide post for society. Even now, it has social values but has been overlooked by most people. Instead, the system has been bastardised just as our belief in Buddhism has been bastardised. The culprit, in this case as in many others, is materialism. All the above-mentioned practices are not parts of Buddhism, and yet they have found support and encouragement among large numbers of Buddhist monks. Buddhist temples used to be community centres where adults went to pray and perform religious rites and children went to play and learn. Not anymore. Now many temples are more like commercial centres or tourist attractions with large paved parking lots and vendors vying for patronage. The temples themselves have instituted various different ways to attract donations. Maintaining wishing ponds is one of the ways. Although our currently world-famous turtle, Orm Sin, was not kept in a temple pond, the practice of throwing coins into a pond of turtles to wish for a long life has been perpetuated by many Buddhist temples. The pitfalls of associating merit-making with animals have been recurring news in Thailand. Several years ago, a number of land turtles were found dead or seriously harmed after they were released in temple ponds. Most people do not know and cannot differentiate between land and aquatic turtles. They think all turtles can swim. As a matter of fact, most people have no idea what habitats are suitable for animals that they release. So, instead of making merit as intended, they commit sinful acts. Those who buy animals for release also are not interested in learning how the animals were captured and the suffering they had to endure. Little birds in cages, for example, are often illegally caught in the wild with large nets. Many of them are injured and die before they reached any temples. Those that are injured but alive are sold and released. But they are either too weak to survive or to find their way back to their natural habitats. According to a nature photographer and bird watcher, some bird species suffer drastic population declines as a result. They include the Baya Weaver, Asian Golden Weaver, Streaked Weaver, Red Avadavat, Scalybreasted Munia and Yellow-breasted Bunting which is a migratory bird. As the world turns, Thais have allowed superstition, mindless beliefs and self-centredness to define our character. While the junta government is preaching for the country to reach toward Thailand 4.0, most people are unwittingly rolling in Thailand 1.0. It's worth stressing again that it's a futile effort to try to keep up with the Joneses in the First World if we overlook the human factor and its mindset.
  13. . Edge and others cite that their "Retirement Visa" (technically, it is merely a 1-year extension to your Non-Immigrant O-A Visa) is processed overnight .. the passport is returned the next day, after which they can process their Multiple Entry Endorsement, taking a total of two days for both. I processed my retirement visa and multi-entry visa in BKK at the main Immigration office in Chaeng Wattana, where they do it all in a single sitting .. as many know, each Immigration office has their own work pace and often take frustrating liberties interpreting the regulations however they choose. As everyone cites, however, the retirement visa comes first and then the multi-entry visa. .
  14. . If I understand correctly, you took a taxi from the airport to Mo Chit Bus Terminal, for which the meter read THB 125, but the taxi driver wanted THB 200. As an obvious 'mark' (a vulnerable tourist, arriving in the middle of the night), you might well have been taken for THB 75 .. but, if you were being scammed by a Thai taxi driver, it would have most likely been for something more like 500-1,000 baht. But, as a newbie, not yet understanding the conventional taxi practices, you might merely have had an honest misunderstanding, fundj122 .. if I understood this correctly, that's my bet. The airport charges taxi drivers THB 50 service fee for allowing them to pick-up at the airport (the 'booking fee') .. this is passed through to the passenger .. if you took the toll road (say, for another THB 25), the toll road fee would also be passed through to the passenger. The THB 200 fare might have been an honest fare .. not all taxi drivers are scammers, but you'd be forgiven for thinking otherwise. In a nation where corruption is so widely practiced, especially against unsuspecting tourists, one cannot avoid being suspicious of any Thai with whom you have any commercial exchange .. even the police .. maybe even, especially the police. .
  15. . Hey, Short .. the airport taxi queue is always a risk .. with the automated taxi queue it is not a huge risk anymore, but it won't prevent you from drawing a suicide monkey, or a headstrong moron trying to muscle you into not using the meter, who are just enraging. Your best defence is to speak a bit of Thai .. greet them in Thai, tell them where you are going and tell them right upfront to take the toll road (easy to learn a few important Thai phrases) .. do not let them have the taxi queue ticket .. then sit back and go about your Internet business (no touristy gawking out the window) .. hopefully, they'll quickly determine you are not the tourist they are seeking to fleece. I live in BKK, so on departure flights I use GrabTaxi to collect me at my door, for convenience .. on arrivals to BKK, I have no problems taking a taxi out of the taxi queue. On arrivals to BKK, Short, you might try lighting-up the GrabTaxi app when you deplane to see if any of their drivers are about (their locations are cited on the app's map) .. there are usually a few of them hanging around outside the airport after dropping off their departing fares. GrabTaxi runs a great little service .. their airport fare is only about THB 250-300+toll to/from mid-Sukhumvit at off-peak hours .. the GrabCar option is about THB 400-500+toll .. the GrabCar Premium option is about THB 600+toll. Using GrabTaxi in BKK for a year+ now, and maybe 100+ trips, I have never been messed with .. not once .. their drivers 'get it'. Technology and the government are combining to bring BKK's notorious taxi crooks under more control .. these solutions will eventually reach the less-tamed Phuket and Pattaya trade areas, where it has long been open season on tourists. .