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HELP ! Generate an income in Thailand ?

Roger · 6 · 280

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Online Roger

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Just arrived from the USA with say B8,000,000 - I wonder what might be the best way to generate a good income ?
(Wife's Sis arrived from USA with Hubby, 50 and 2 babies)

They are looking at investing in accommodation - 30 apartments in an industrial part of Rayong with 80% occupancy atm - (repair and maintenance needed).

Any other ideas Guys ? Have I read somewhere about good interest rates available in Thailand ?
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Online rdrokit

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Not sure I would want to get into the multiple rental market as I am not sure about the eviction laws in Thailand. If the building is not new it will probably need on going maintenance, another headache.In the US it can take up to 6 months to evict someone for non payment of rent. If he only has 8 million baht it wont buy much especially in the Pattaya/Rayong area in good condition. If he doesn't have any monthly income he may have a problem down the line. 50 seems young to retire unless he was in the military. If he was in the military he would have a pension of sorts. I would buy a house and car and not owe anyone any money. Then I would get a teaching job to supplement my income if I had a small pension.

If I needed additional income and had some money to invest I would probably buy a franchise in Sunrise Tacos and open a branch in one of the malls as there are no Mexican restaurants in Korat. Mexican food is cheap to prepare and Thais like spicy food. We had a Mexican restaurant in JoHo that was popular but the partners fought and it closed.

Your brother in laws name happen to be Kevin?


Online Coolkorat

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A friend has started an internet business selling Thai health/ beauty products via the internet (Thai herbal supplements etc.). He found a Thai supplier and adds some English language stickers to the packaging translating the usage instructions. He avoids anything which might cause problems.

He takes all the orders and payment online, adding packing and shipping which is good value from Thailand. He holds minimal stock. He's given thought to the marketing to leverage the 'Thai-ness' angle but it hasn't cost him much.

He's been doing it for less than 12 months and has had a couple of months where he's earned £4k. Most of his sales are to the US, but the market is worldwide. He does it as a hobby because he has a good pension.

There are so many advantages: low local costs, payment upfront, and no risk from committing capital. Someone prepared to really work at marketing and social media could probably make a very good income. It also means involving his wife in something she is likely to enjoy (sourcing the products and suppliers). If I were in Thailand I would be looking how I could export Thailand rather than risk working in a local market that is generally benignly-hostile to foreign-owned businesses.

p.s. have a look at this website for ideas: https://www.siamtraditions.com/
« Last Edit: August 14, 2019, 04:40:52 PM by Coolkorat »


Online Roger

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Just  a quick thanks to RDRO and CK for those responses. I'll reply at more length later. ATB
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Online Roger

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RDRO thanks for the suggestions which I've passed on. Your comments about the property spot on and no, it's not a Kevin !

CK that's a great idea and Pui's on it ! We'll have a look at the website and pass that on to them.

I visited that Apartment block yesterday - 30 km outside Rayong.18 beds a/c at B2800 pm and 10 beds at B2300. The block is built on the boundaries of it's land so there's NO parking for a car at all. Room for 20 motorbikes to park in the ground floor. Very run down I would say and the Owner was desperate to sell. Rooms 4m x 5m with small balcony and shower room adjoining. One tatty bed and one tatty wardrobe. Not the sort of place anyone would stay for long. At 75% occupancy the figures show a minimal income BUT very hard to achieve 75%  ;)  At 50% occupancy it's a dead duck. I've tried to dissuade them as I was asked. MMmmmm.
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Online rdrokit

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This company has legal services plus business listing for businesses for sale. He might check them out. It is also the company that has Sunrise Taco franchises.

https://www.sunbeltasia.com/