All Forum Posts by: Ron Richter

 @Brandon P. I'm in a similar situation. Have been living almost 5 years in South East Asia and currently looking for a good state in the US. So far, this is what I'm taking into consideration:

1. Income tax

2. Property taxes

3. Ease of doing business

4. Reasonable price for real estate

So far, I have excluded California and New York for reasons #1 and #4. Washington state is great on income tax but the numbers don't make sense for me when it comes to buying anything. Therefore, I'm still looking as well.

Hi everyone,

I hope you all are as excited for 2020 as I am!

This is a question for investors and also those who are just starting out. Which Real Estate events will you attend this year?

There will be one from Bigger Pocket for sure, but I’m curious what else is out there.

Hi everyone,

I recently moved to Bellevue in Washington. Anyone here from Bellevue and can recommend real estate investing meetups?

I have already checked Meetup.com and a lot of them look like a sales pitch event. Therefore I would very grateful for good recommendations. Thanks!

I love traveling too. When I'm visiting a new country, I will usually contact a real estate agent and ask her to show me a few properties. It's a great way to see the area, and learning about the local market.

Yes, currency fluctuation might be a risk. But in my case it played out well. The Thai Baht currency has risen so much compared to the USD right now. That means while the rent stays the same, I get more USD. But you have to watch it, and have the right timing to buy and sell.

Most Americans I met there, are buying a condo for themselves, to have a rent free home base in Asia. One such a case study, very well documented with pictures is here: https://onestep4ward.com/buying-condo-thailand-mortgage-free-20s/

It was a top notch 2BR condominium for $90K.

That's what I find too. It's fascinating how modern Bangkok has become. All new condominiums have a big pool and gym facilities. Hopefully more people will share about their investments abroad.

Investment Info:

Single-family residence buy & hold investment in Bangkok.

Purchase price: $32,350
Cash invested: $34,000

In June 2015, I bought a brand new condo in the capital of Thailand, Sukhumvit Road area, close to the sky train station. I planned to have it as a cash flowing short term rental via Airbnb. But laws quickly changed and Airbnb became illegal in Thailand. Now, I have a long term tenant (12 months contract), and a manager taking care of everything. It's now a hands off, passive income generating rental property.

What made you interested in investing in this type of deal?

Back then, I was living in Thailand, and a friend told me about this new condominium project, that was almost finished. The price was good and he bought 3 units. As it was my first real estate investment, I bought one.

How did you finance this deal?

Financing was not available for foreigners and I had to buy in hard cash.

How did you add value to the deal?

I fully furnished the unit with a western style furniture and design. Also built in an air conditioner, which is a must in Thailand.

What was the outcome?

After renting it out, my ROI is 10,7%, the cap rate is 8%

Lessons learned? Challenges?

In hindsight, I would not buy a property full in cash again. The ROI is just too low. When financing would be available, with 20% down, I could buy 5 of such condos with the same amount of money, instead of just one.
Just to compare, with 20% down with financing, the cash on cash return would be 38%.
The appreciation is very good though, it has almost doubled in price and I will sell it next year, after holding it for 5 years.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Very happy with my agent and manager. Without him, it wouldn't be a hands off investment. He takes care of everything, found a tenant in no time (!) and handles all communication with the tenant. If anyone already has a condominium in Bangkok, Thailand, and looking for tenants or a manager, I would highly recommend him. Send me a PM for his contact details.

Well done and a good cash flow for Ukraine!

How do you handle cleaning, when you are out of country? Are you using a management company or do you have your own staff there?

While I haven't tried it myself, I have seen such bunk beds homes in LA. The most profitable one was a house with 8 bedrooms, and 47 beds a $35 per night. I met the manager, a young fellow who was there full time. It's possible to pull something like this off, but you will need at least one full time staff who is checking in guests, cleaning, and doing the massive laundry load. It's definitely not for everyone but can be very profitable if done right.