Does anyone have any experience with buying real estate out of the U.S.? I'm starting to find myself very interested in buying a house on a tropical island away from everyone. I probably wouldn't actually live in this house but I would love to rent it out for people on short vacations. Since I wouldn't have a formal advertisement or anything to tell people about my home, it would probably only be rented out by family and friends, has anyone done something like this, if so I would like your advice. Thanks all.

No, but I can tell you that I saw some very interesting deals in Thailand, namely Pattaya. Everything was really nice for ridiculous prices.

I don't know if you would find your get-a-way island there, but you could definitely find a get-a-way there and a market in which to rent your place out to.

FreeDevin, thanks for the info. I've never been to Thailand, I would love to go some day. I'm due for my vacation pretty soon, maybe I will make a trip out there. I don't need a whole island to myself lol, I'm not rich. I would just like a nice little beach front villa or something with a nice view. I have really been wanting to go to Australia for this next vacation, is Thailand worth skipping out on Australia for?

FreeDevin wrote:

No, but I can tell you that I saw some very interesting deals in Thailand, namely Pattaya. Everything was really nice for ridiculous prices. I don't know if you would find your get-a-way island there, but you could definitely find a get-a-way there and a market in which to rent your place out to.

When were you in Pattaya? Must have been 97 or so.
Pattaya is cheaper than Bangkok but not as cheap as you would expect for a supposed third world country. If 30,000/US for a base model studio condo is what your looking for than go for it.

Now, if you go outside the touristy area's then yes you can get some better deals in Thailand. But you still have the land ownership issue to overcome.

Not saying that Thailand is not a good place to look or buy a vacation house.

FreeDevin wrote:

No, but I can tell you that I saw some very interesting deals in Thailand, namely Pattaya. Everything was really nice for ridiculous prices. I don't know if you would find your get-a-way island there, but you could definitely find a get-a-way there and a market in which to rent your place out to.

oooh,i love thailand.heres the deal with buying in thailand though.if you are not thai,you can not buy unless its a condominium and if you do want to buy actual property you basically have to marry a thai(wich i wouldnt do).there are other ways but its very tricky.just google it.theres alot of informative stuff about it.visit thailand but dont live there.better off somewhere else.the girls are not always girls in pattaya if you ever go by the way!.....cup check

herrinbusmc wrote:

FreeDevin wrote: No, but I can tell you that I saw some very interesting deals in Thailand, namely Pattaya. Everything was really nice for ridiculous prices. I don't know if you would find your get-a-way island there, but you could definitely find a get-a-way there and a market in which to rent your place out to. When were you in Pattaya? Must have been 97 or so. Pattaya is cheaper than Bangkok but not as cheap as you would expect for a supposed third world country. If 30,000/US for a base model studio condo is what your looking for than go for it.

I was there this time last year. Yeah, I forgot about the ownership issue.

I've never been to Australia, but I'll tell ya that you're nuts if you pass up Thailand.

Anyways, back on topic, I'm sure that there are other places to obtain a vacation retreat.

This is quoted off another website as i am single as hell!!!anyways:
I am in the process of buying a house in Chalong (moving in in July) as I am married to a thai (15 years now) so was able to buy in her name BUT have a 30 year lease on the house. My son has taken Thai nationality and will inherit the lot (with no inheritance tax here).

If you are not married to a TG...

Thai law stipulates that a foreigner may not own land in his name, he has the right of ownership of buildings only. If a foreigner wishes to purchase land to build a property he has 2 options;
1.
The land is purchased on a 30 year leasehold, with an option to extend the lease for further 30 year periods. Possession of the land is assured by virtue of the fact that the property occupies the land. The lessor cannot seize the property upon expiration of the lease, as the property is separate from the land.
2.
If a foreigner is going to operate a business in Thailand then he may purchase the freehold of the land through his Limited Company.The land will be owned by the Company, not the individual.

There are many different types of land titles in Thailand, the majority of which do not allow for the legal right to build on that land.
The most common are
1.
NOR SOR 3 ; This is the lowest land title which allows for legally building a property, but is not ideal as the land is measured approximately. There are no markers to indicate the boundaries of the land.

2.
NOR SOR 3 GOR ; This land has been measured using aerial survey to set the points and land area. This land can be sub-divided into separate plots.

3. (THE BEST)
CHANOTE ( land title deed ); This land has been accurately measured using GPS to set the area and boundaries of the land. The boundaries of the land are indicated by numbered posts.

Check the deeds at the land office before signing.

Other options are :

3) Buy a condo
4) Marry a beautiful TG & put all your eggs into her basket

There are several estate agents in Phuket but be careful to use a long time one. Merv Baines (Asialand)has a good reputation
(http://www.realestatephuket.com/contact.php) but I used www.ayudhya.net
& got on well with Andrea (italian guy - tell him Marc recommended him)

Prices are very high in Phuket & cheaper on the mainland so considering where is important .
Expect to hand over loadsa cash & get a good lawyer before signing anything !
Good luck / Chok dee

I bought a house in the Philippines (Davao area) and it was cheap as hell, the laws in the Philippines are more flexible now regarding foreign ownership of property or business, in the past, you either have to be married to a Filipina or go with 50% ownership with a filipino for business, now foreigners can have 100% ownership and live there...or rent it out...if you have any queries, just PM me and I'll give you some info on buying property or business in the Philippines...and by the way...I don't regret a single cent by buying in the Philippines....Iam Canadian and I love it there...the Philippines wasn't affected by the world financial crisis so your investment is sound and secured....