Despite the current real estate woes in Thailand, real estate is still a good investment strategy when it’s part of a diversified portfolio.
And investing in real estate in Thailand can be fun!
There’s a bit of an art and a science to finding the best investment properties.
You’ll need time to research, a good plan and of course some expert advice on your side.
Here’s what you need to know to find the best investment properties in Thailand.
Build a network of support in the location where you intend to invest or are investing.
Make friends with real estate agents, mortgage brokers, bankers, Thai engineers and contractors and property managers.
This large network will help you find the best deals.
Stay in touch with them, connect and share information, and offer tips for getting the best deals in Thailand.
They can also be a valuable source of information and expert advice once you find the property you want to purchase.
Make sure your finances are ready to go.
This way, when a great investment opportunity presents itself, you can jump on it.
If you have to get your finances in order, get pre-approved for a mortgage or other finance and gather the capital to make a down payment, else you may miss the opportunity.
Please be aware it is very difficult for a foreigner in Thailand to get a mortgage, but there are many other sources of finance for foreigners, like private financing, developer financing and some companies offering finance on specific projects in Thailand.
Know how much you have to spend and be able to quickly assess the value of a property.
Know that depending on your goals for the investment property the value may change.
For example, if you’re planning on owning the property for decades and renting it out, then you can take repairs and rental profits into your consideration when evaluating where a property is worth the investment.
Make sure you also have your legal ducks in a row.
If you’re buying a foreclosure home for example, you’ll probably want to have an attorney help you, a real estate agent and/or a mortgage broker because there will be some negotiating with the bank.
his is a different process than buying from a traditional seller. And while it offers financial benefits, it requires some additional expertise.
Become an expert at scanning the for sale ads, searching the real estate websites and for sale by owner ads.
Knowing what to look for will help you quickly assess the value of a property. Make a list of what you’re looking for, your investment goals and how much you have to spend. This will help you quickly narrow your search to only the best properties.
Finding the best investment properties requires patience, persistence and a firm knowledge about what you’re looking for and why.
Make sure your goals are outlined in advance so you’re buying an investment property that meets your needs.
We at TEN Thai Estate Network wish you best of luck in finding your investment properties… and we are just an email or a phone call away 😉