[Tommy]

Are there still places where one can buy luxury condos with seaview under 100k $ ?

[thegmanifesto]

Tommy -

For sheez. Depends on where. (ie I am sure you could get something sick in Mogadishu...and have plenty left over for a gang of AR-15's and keys of blow).

Where are you thinking?

Doesn't Thailand have something in that range?

[Tommy]

Pattaya is indeed a good place, i'm wondering if there are any other cities in the world where this is possible?

This is a good example of what you get in Pattaya (Thailand) for 40,000$

Too bad Pattaya is a hooker destination and not a playboy zone.

[thegmanifesto]

Tommy-

Damn. 40k?

Hell, I might pick up a couple of those and blow out the walls and make a double.

"Too bad Pattaya is a hooker destination and not a playboy zone."

Yeah, especially since its on the beach and seems to have a perfect set up.

I really got to make it out there.

[ManAbout]

Right after the financial crisis, you could get a condo in florida for that much. Probably not seaview, but close.

[Luckystar]

A lot of Europeans go to Tunisia for cheap vacations. Kinda the same way Americans go to Mexico.

I don't know what real estate prices are like over there, but I would assume much of it would be more accessible for purchase now the dictator has been ousted over there. Just thinking out loud.

[Tommy]

(03-15-2011 04:30 PM)thegmanifesto Wrote:  

Tommy-

Damn. 40k?

Hell, I might pick up a couple of those and blow out the walls and make a double.

Exactly, would cost around 80k with seaview. Great deal, but like I said Pattaya is not a playboy zone, it's a seaside brothel.

[Gmac]

(03-15-2011 05:19 PM)Luckystar Wrote:  

A lot of Europeans go to Tunisia for cheap vacations. Kinda the same way Americans go to Mexico.

I don't know what real estate prices are like over there, but I would assume much of it would be more accessible for purchase now the dictator has been ousted over there. Just thinking out loud.

Condos in Mexico are ridiculously cheap right now, for anyone interested it is definitely the time to buy.

[rudebwoy]

(03-15-2011 06:25 PM)Gmac Wrote:  

(03-15-2011 05:19 PM)Luckystar Wrote:  

A lot of Europeans go to Tunisia for cheap vacations. Kinda the same way Americans go to Mexico.

I don't know what real estate prices are like over there, but I would assume much of it would be more accessible for purchase now the dictator has been ousted over there. Just thinking out loud.

Condos in Mexico are ridiculously cheap right now, for anyone interested it is definitely the time to buy.

Whereabouts in Mexico? Not Cancun I am sure....

[peterthephoenix]

G and Co., please note that only Thai nationals can buy land in Thailand, you may only lease the land.

And don't trust a Thai wife/girlfriend with your money to buy land for you, I've heard stories of that shit going south so quickly.

[Vacancier Permanent]

Peter,
From my understanding, foreigners in Thailand can buy condos, but when it comes to buying houses, that's where the restrictions start as foreigners are not allowed to own land in LOS and that's when they require that at least 51% of the property be owned by a Thai national, and the rest, by the foreigner.
If you want to buy in Thailand, I'd strongly recommend Bangkok as it's an awesome city, only an hour away from glorious beaches and it has everything one would need to have a great lifestyle. And for 100K, you can find some good deals.

[peterthephoenix]

I was unaware of the joint ownership clause. The Thai government is very wary of too much of their land going into foreign ownership.

VP, whereabouts in Bangkok would you buy up?

+ Many old people move to Thailand on permanent retirement visas, Pattaya etc. They might be allowed to buy, but im not sure.

[Tommy]

A foreigner can own up to 49% of a land property and up to 100% of a condominium

[K-man]

(03-15-2011 11:27 AM)Tommy Wrote:  

Are there still places where one can buy luxury condos with seaview under 100k $ ?

I have a whole beach house in Bulgaria that goes for EUR 250k. A 1-bdr unit in such a building would go for 25-35k, depending on size and view.
However, for someone in the US it's a very long flight. Most tourists come from Europe, since flights are 2-3 hours and relatively affordable.
What would you use it for? Unless you spend a lot of time there, it's not worth it. If you rent it out, the season is only 4-5 months, with just 2 (July and August) being strong. And to rent out a 1-bdr is EUR 20-30 per night. Not a great return on investment.

[Tommy]

K-Man: where in Bulgaria? It's only a 2 hours flight from where I am and the price is very good. Does it have seaview? What's the name of the town? I would use to hang around so the location should be good somewhere with nightlife, good restaurants and bars.

[oldnemesis]

(03-15-2011 11:27 AM)Tommy Wrote:  

Are there still places where one can buy luxury condos with seaview under 100k $ ?

Yes, but the question is a) whether you want to live there, and b) what would be your upkeep?

[hydrogonian]

Before doing a lot of research on the condo, make sure that the visa laws allow hassle free living. For instance, I'd hate to lay out 40-100k in Thailand for a place and then have to make border runs every 30 days.

Also, that place is super shitty, even for 40k. I wouldn't pay 20k for that, primarily because I couldn't live there for extended periods of time. I could only tolerate it for a short stay solution, if necessary. And if that's all your doing, then buying is definitely not worth it. If I was going to stay for an extended period of time, I'd rather either not buy or save more and get a nicer place. But that's just me.

[K-man]

(03-16-2011 07:57 AM)Tommy Wrote:  

K-Man: where in Bulgaria? It's only a 2 hours flight from where I am and the price is very good. Does it have seaview? What's the name of the town? I would use to hang around so the location should be good somewhere with nightlife, good restaurants and bars.

This is by the marina in Sunny Beach. You can check out an aerial view of the area on Google, my house's coordinates are 42.710871, 27.771453 - the whole area is pretty overdeveloped. Gets crowded 2-3 months out of the year, with mostly European and Russian people vacationing. Lots of condos for sale in that price range.
I only have a sea view from the top 2 floors as I'm not beachfront. It's a five minute walk, though. If you want beachfront, that will be more expensive, perhaps 50-60k for a 1-bdr.

[Brian]

I was in Sunny Beach a few years ago. Lots of Germans and Brits there when I was (June). Is the Happy Viking still going strong?

[Tommy]

Sunny Beach seems to be cheaper than Thailand when it comes to buying luxury condos + it's closer to where I live. How about the women and the nightlife?

[K-man]

(03-17-2011 09:31 PM)Brian Wrote:  

I was in Sunny Beach a few years ago. Lots of Germans and Brits there when I was (June). Is the Happy Viking still going strong?

Lots of Scandinavian and Russian people, too. Some Israelis. I think this year will be very busy because of Tunisia and Egypt - a lot of people will skip them for Turkey, Greece, and Bulgaria.

June, July and August it's pretty full, nightlife is good but with the drawback (for me) of no closing time. I'd rather have it US style where at 2-3am it's lights on and for the girls you've been gaming it's decision time - you either take them home or go get some sleep. In Bulgaria, the DJ is playing until 4-5am and the bartender is more than happy to keep pouring you drinks. I've lost a lot of bangs because the girls would just want to stay and "party" on and on until I'm too tired.
Especially when there are guest DJs, raves, etc. which is pretty much all of August - those parties usually last until the sun is up.
2nd half of May and all of September the resort is less active, beach is open, weather's not too hot, less crowds, you can relax.
And then after that it's a ghost town until next mid-May when it gets warm.

[Tommy]

Prices for a luxurious condo are ridicilously low in Sunny Beach! Do you think it's a good investment now Bulgaria has joined the EU and wil soon be dealing with the € ?

[K-man]

(03-18-2011 09:42 AM)Tommy Wrote:  

Prices for a luxurious condo are ridicilously low in Sunny Beach! Do you think it's a good investment now Bulgaria has joined the EU and wil soon be dealing with the € ?

Nah, I wrote above that I don't think it's such a great investment.
First of all, "luxury" is relative - but if you mean marble bathrooms, beachfront view, pools, gardens - that will be more expensive, around 50-60k for 1-bdr.
A regular decent 1-bdr you can get for 20-30k EUR. But they only rent for like EUR 20-30 per night, depending on peak season, weekends, etc.
Let's say you average 25, and you are very lucky to rent it out 100 days of the year (season is only from mid-May to end-September, or 4-5 months).
That means your gross is 2.5k for the year. But you have to pay a property manager to rent it out, and clean it, change sheets, towels, etc. This will eat out a significant part. You also pay your utilities and your property tax, you may net at most 1-2k for the year, or around 5% ROI.
Now, if you use it for hanging out, it's a much better deal. You won't pay for hotels, you can save on eating out, since you'll have your own kitchen... But you gotta have a lot of free time, and affordable and short flights from where you live (so not good for U.S. people)

[Tommy]

I'm in central Europe so it's fairly close. I think eating out overthere isn't expensive right. How much would be a steak & fries, a beer, pizza, bottle of vodka in a club...?

[K-man]

(03-19-2011 09:00 AM)Tommy Wrote:  

I think eating out overthere isn't expensive right. How much would be a steak & fries, a beer, pizza, bottle of vodka in a club...?

It depends. In the cities outside major resorts it's around 5 EUR for a meal, 1 Euro local beer, 2 Euro import beer, 50 Euro bottle of Johnie Red at a club.
A touristy place where foreigners go - it may be double.