All Forum Posts by: Michael Courtenay

Hi Kelsy and thanks for inquiring. 

Yes, foreigners can acquire land in Thailand on a 30-year leasehold arrangement with a right to renew for a subsequent 30 years at no additional cost. Until last year, I was living in Singapore since 1997 and I purchased the property in 2001 with the intention of building a retirement home. My plans have since changed so I am looking to sell/swap the property. If you had any interest, first step would be to contact the local real estate broker who has listed the property and we could figure out the actual logistics from there.

I am not familiar with Thai law, but I believe all that would be required is for me to transfer the deed to the new buyer. My leasehold contract has a 'right to transfer' clause. The only point I'd have to check is whether the 30-year term resets back to zero for the new buyer (so you would have a total of 60 years available) or if you continue to run out the remaining term on my lease (expires in 2031).

I am currently living in Manila, Philippines, but have plans to relocate back to the US later this year. Should you wish to reach me, you can email me directly at [email protected].

Many thanks . . Michael

Offering a beautiful 2,736 sqm (29,450 sqft) plot of land on the island of Koh Samui, Thailand. Lot is situated in the private gated residential development of SANTI THANI on the north coast of Koh Samui. Development has paved roads. Electric and water lines are installed to the lot. Only 15 min to airport and 20 min to Chaweng Beach

Plot is situated at the top of a hill and overlooks a coconut plantation with a distant view to the sea. Property is a leasehold for 30 years with an additional right to renew at no additional cost for another 30 years. First 30-year lease expires 2031. Lot is all usable as it has a gently slope.The perfect site for building that luxury vacation or retirement villa. Only 5 minute drive to the new Santiburi Golf & Country Club in Maenam.

Will consider sale (asking price US$95k) or swap for investment property, preferably in Florida.

For more information on Ko Samui, visit https://en.wikipedia.org/wiki/Ko_Samui

Email me at [email protected] for any questions.

Thanks . . 

Michael Courtenay

Hi Arden. I'm restarting my real estate investing after being out of the game for about 20 years but am living in Asia right now so am a bit far away to be doing any serious buying and flipping. I thought at this point in time it might make more sense to start investing in RE projects that can offer above average returns ( 10+% p.a.) with relatively low LTV's and first lien positions.

Having said that, I got burned about 20 years ago by lending to a hard money lender who placed deals at 18% and paid me 12%. Turned out he forged several of the loan documents and was eventually caught and indicted for fraud. His investors lost millions and I lost $120k as all of the 10 loans I had invested in turned out to have fraudulent title and loan assignments. Bottom line is I'm a bit wary of getting into this again and would really need to be sure that the first lien positions were solid, the borrower had enough skin in the game and the property was in an area where resale or rental would not be problematic in the event I had to foreclose. 

If you have any deals that may be of interest, feel free to let me know. Most of my investing capital is tied up in my jewelry business, but I have about $45k in SDIRA funds that I'm looking to invest for about 6-9 month terms.

Thanks . . Michael Courtenay

Hi Dan and thanks for your insights. My SDIRA is a traditional type, not a ROTH so unfortunately I won't get those benefits. Right now, I'm inclined to use my SDIRA funds for "flips" but it may also make sense to use for "holds" as well given the recapture issue. At my age, marginal tax brackets are not likely to change very much so I wouldn't actually be getting any added tax benefit by taking depreciation now and then recapturing at some future point unless, as you point out, I did a 1031 exchange.

Michael

Thanks Brian for the comprehensive reply. I don't plan to do too many flips in a year so presume that UBIT might not be something I need to be overly concerned with but will certainly keep it in mind.

I've just set up a self-directed Checkbook IRA to use for real estate investing. Just want to be sure I'm not overlooking something relating to fix and hold investing.

One of the major benefits to holding a rental property is the tax benefit you get from depreciation. If I were to buy a property to fix and hold using my self directed IRA, the depreciation would reduce any income earned on the property and would therefore reduce the income that would otherwise be subject to tax deferral.

Therefore, it would seem to me that you would generally not want to buy fix and hold properties using your IRA since you would be reducing your tax-deferred profits by the amount of depreciation.

However, the SDIRA would be perfect if you're a fix and flip investor since depreciation would not come into play using this strategy.

Does that make sense?

Has anyone lent to American Private Money Group, FMC Lending who operate out of Burlingame, CA? I'm considering lending to them for RE deals and would like to know if anyone has had any dealings with them. If so, how was the experience?

Hi Maurice. My partner and I are looking to buy distressed properties in the Hampton Bays area, initially for fix and flip but ultimately fix and hold.  There are plenty of listing brokers out there but would prefer to deal with a buyer's broker who has extensive experience dealing with investors and who is well dialed in to the local market and can be a potential source of new deals. Any suggestions would be appreciated.

Michael

This link (http://www.marketwatch.com/story/capital-gains-at-...) might be helpful in assessing what the various capital gains rates would be if you held the property for more than one year.

Hope that helps to clarify.

Does anyone know of any reputable buyer's agents in the Hampton Bays, New York vicinity that have experience working with investors?