Buying Vs Renting apartments in PP

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Funflyer
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Re: Buying Vs Renting apartments in PP

Post by Funflyer »

Thanks for all the great advice. The consensus is not to buy so I will most certain;y take that advice into account whilst I'm making my deliberations!!!
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phuketrichard
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Re: Buying Vs Renting apartments in PP

Post by phuketrichard »

I'd never buy anything in country that you have no ties to nor offers you a permanent visa.
RENT!!!
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
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Re: Buying Vs Renting apartments in PP

Post by rogerrabbit »

pczz wrote: Mon Mar 04, 2019 7:57 pm
Tombain51 wrote: Mon Mar 04, 2019 4:23 pm If I buy it would most likely be "forever" rather as an investment as such but a little capital appreciation wouldn't go amiss as plans do sometimes change!
You can only nuy a condo in strata development now. Condos generally do not appreciate becaue when you want to sell there will be a new cheaper one with all new stuff in it. Juat look at Bangkok and Pattaya. The only way to make money is to flip them wuick, within 3 years and do something secial.
In Thailand there is a lot of old stuff you can pick up cheap to flip but here its nuts.
For example in Barnsley in uk you can but a 2 bed house for about the prce of a condo here and get 1-% rental return.
bear in mind these blocks have no sink fund and few residents. One over the chiners bridge ups the maintenance charges with monotonous regularity. Just wait till place needs decorating or lifts replaceing.
I suspect buying a condo as a westerner in Cambodia is probably a slower way of losing money that buying a bar, but just as effective
You can get 2br for $40k-80k from Barnsley?

Most condos here actually do have sink funds. Either paid when you buy the unit or you pay it monthly like the management fee. But yes, if you end up buying condo you better buy from developer that has already built few other condos earlier so you can see how the older ones have aged (has any maintenance being done and so on).
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Re: Buying Vs Renting apartments in PP

Post by Funflyer »

If I want to buy an older apartment in my name that is now illegal as I understand from the replies. However, I can buy "right of possession"? What does that actually mean and what's involved? Is it more expensive than a normal purchase. I do have a Cambodian partner but I don't quite trust her enough (because of a previous experience) to buy something in her name with an amount of money that I can't afford to loose unless I cab protect my investment somehow??
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Paulo
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Re: Buying Vs Renting apartments in PP

Post by Paulo »

Does right of possession mean soft title? I know of a couple of girls who have sweet talked guys into investing houses for their future. The first guy was kicked out as soon as the ink was dry. The other guy was a bit smarter and put it in both names. He got run out too. A smart man would have put the house in his name only or not bought at all. Both were older houses. Maybe an apartment in the buyers name only would be ok, but I wonder what these buildings will look like in 20 years.
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Re: Buying Vs Renting apartments in PP

Post by Funflyer »

Paulo wrote: Tue Mar 05, 2019 5:43 pm Does right of possession mean soft title? I know of a couple of girls who have sweet talked guys into investing houses for their future. The first guy was kicked out as soon as the ink was dry. The other guy was a bit smarter and put it in both names. He got run out too. A smart man would have put the house in his name only or not bought at all. Both were older houses. Maybe an apartment in the buyers name only would be ok, but I wonder what these buildings will look like in 20 years.
Yes I think that's what it means but it all seems difficult to understand especially the risks involved!
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armchairlawyer
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Re: Buying Vs Renting apartments in PP

Post by armchairlawyer »

OP, this sounds the best option for you. You can buy an apartment in your lady's name but with a substantial mortgage loan. The bank will all do necessary checking of title. Avoid condos. Good luck.
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Re: Buying Vs Renting apartments in PP

Post by Jcml19 »

Dont fall in love with the home... Buying a home is an investment. Just be mindful of the price and take your time. Do not exceed your budget and good luck
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Re: Buying Vs Renting apartments in PP

Post by michael.stewart1 »

Tombain51 wrote: Mon Mar 04, 2019 3:51 pm I guess the first question is - can foreigners buy apartments and if so what about ground floor like the ground floor of a shop-house? Then what about the pros and cons of renting Vs buying? which way is better?
I do not think you can legally own property in Cambodia. You can rent it and have 99 years leases if you wanted. Personally I would not buy an apartment or Condo. why would i spend 50000USD or more on a little box that i cannot customize as I want. I would more likely go to Ratanakiri or Mondulkiri and buy raw land and then build and design a house to my liking. The other idea would be to simply go to a country such as Peru, Brazil, or Russia which has deals on real estate and allows you to own land with your name on the title. I was contemplating these countries as I would like to live somewhere a little remote so I can build a lab and do genetic and atomic research somewhere where the USA and NATO will not interfere with what I design and who I sell it to.
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phuketrichard
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Re: Buying Vs Renting apartments in PP

Post by phuketrichard »

digging up a year old past to make a comment ...
:facepalm:

i think making only $1,200+ /month and not working nor plans to work, (only play games allnight)
ur not going to make an sizable investment any time soon :-)
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
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