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Are Sexpats-on-a-Budget Actually Juicier Cash Cows than the Prospective VIP Visa Newcomers


Rom
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...  or in other words:  who is more likely to pay for pick-up trucks and for building houses in Issaan in the name of Thai lovers ?

This thread is a spin off from another I started where I argue it's a no-brainer that higher income, more educated expats are preferable to those coming to Thailand to make the most of their bare minimum pensions or hustling locally whatever they can do to stay above the waterline and keep pulling Thai pussy...

But then I thought:  WAIT A MINUTE!  The big money to be made from the farangs is not on day-to-day living expenses, but from getting them to blow their savings, their inheritances or borrow heavily to purchase big ticket items...

The proverbial "House in Issaan" immediately comes to mind.   We all have heard the stories of the farangs in love who proudly built houses in the teerak's hometown and in their name and those stories always end the same way.  I once met one such BKK farang who was actualy forcing himself to live under 1000 baht a day (rent and utilities included) so he could finish building the house faster...

The prospective higher income expats with VIP visas being more educated and presumably less sex-focused will perhaps be less likely to fall for the Issaan rural fantasy ...  so no more lottery jackpots for the teeraks ???

I would like to know what BMs on the ground observed and think in this regard?   Perhaps the Thais better not mess with the current system of tight but willing farang cash cows that are proven ATMs for the Issaan natives...

 

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I am so happy I have made the move up here with only one regret. 

Because of covid I did not get to travel back to Australia to see my Dad in his last days and not get to attend his funeral. 

  With savings ( no monthly pension) and investments here and Australia, I will never get to spend all .The money I have spent to set myself up by buying some farms and equipment ( soon to purchase another) and my house, was all up to me . 

     People are so quick to judge before knowing the facts with some jealousy thrown in the mix , we are not all the same . Most fail from stupidity or are easily lead astray .

    If I didn't have Dao before moving to Thailand I would still be far away from the beaches and glamour of Thailand,  farms and jungle are way more nicer to live than a shoebox with someone living right on your doorstep and all you have to look at is another Condo or high rise. 

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10 hours ago, Rom said:

...  or in other words:  who is more likely to pay for pick-up trucks and for building houses in Issaan in the name of Thai lovers ?

This thread is a spin off from another I started where I argue it's a no-brainer that higher income, more educated expats are preferable to those coming to Thailand to make the most of their bare minimum pensions or hustling locally whatever they can do to stay above the waterline and keep pulling Thai pussy...

But then I thought:  WAIT A MINUTE!  The big money to be made from the farangs is not on day-to-day living expenses, but from getting them to blow their savings, their inheritances or borrow heavily to purchase big ticket items...

The proverbial "House in Issaan" immediately comes to mind.   We all have heard the stories of the farangs in love who proudly built houses in the teerak's hometown and in their name and those stories always end the same way.  I once met one such BKK farang who was actualy forcing himself to live under 1000 baht a day (rent and utilities included) so he could finish building the house faster...

The prospective higher income expats with VIP visas being more educated and presumably less sex-focused will perhaps be less likely to fall for the Issaan rural fantasy ...  so no more lottery jackpots for the teeraks ???

I would like to know what BMs on the ground observed and think in this regard?   Perhaps the Thais better not mess with the current system of tight but willing farang cash cows that are proven ATMs for the Issaan natives...

 

Your post is very cynical, and generalises things you do not know first hand. I for one am living a far better life in Thailand than if I was still in my own country. We all have to live somewhere, and building a house here, where i am happy, has worked out well (for me). "Stories always end the same way ..." well, I've lived here 12 years and counting.

I would not tell you what to post, or to think, but in betting terms you seem to want a dollar each way, and throw in a second bet for the quinella.

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11 hours ago, Rom said:

BKK farang who was actually forcing himself to live under 1000 baht a day (rent and utilities included)

I am living on 1000 a day, rent included, during Covid times and I have a bigger and nicer place than the average Pattaya expat.  Once things get back to normal my spending will go up a bit.

But a farang on only a 20K (or less) a month budget could live at the CCR for 5000 a month in a very small studio on the wrong side of 3rd Road.  The nice new building is only about a 5 minute or so walk from Soi Pothole and has an impressive gym and pool.

pool.jpeggym.jpeggym2.jpeg

https://www.thailand-property.com/condo-for-sale-or-rent-in-city-center-residence-bang-lamung-chonburi_5029074

11 hours ago, Rom said:

The proverbial "House in Issaan" immediately comes to mind. 

My missus built a house for her Mom using her own money.   She paid as construction progressed, foundation, shell, inside etc.   They already had the land.

For those who like a quieter life, living upcountry is a good option.  If farang hab money, no reason not to help out his girlfriend's family if he can do that without jeopardizing his financial security.  But best do do a little at a time, not in one big chunk.  

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13 hours ago, Rom said:

...  or in other words:  who is more likely to pay for pick-up trucks and for building houses in Issaan in the name of Thai lovers ?

This thread is a spin off from another I started where I argue it's a no-brainer that higher income, more educated expats are preferable to those coming to Thailand to make the most of their bare minimum pensions or hustling locally whatever they can do to stay above the waterline and keep pulling Thai pussy...

But then I thought:  WAIT A MINUTE!  The big money to be made from the farangs is not on day-to-day living expenses, but from getting them to blow their savings, their inheritances or borrow heavily to purchase big ticket items...

The proverbial "House in Issaan" immediately comes to mind.   We all have heard the stories of the farangs in love who proudly built houses in the teerak's hometown and in their name and those stories always end the same way.  I once met one such BKK farang who was actualy forcing himself to live under 1000 baht a day (rent and utilities included) so he could finish building the house faster...

The prospective higher income expats with VIP visas being more educated and presumably less sex-focused will perhaps be less likely to fall for the Issaan rural fantasy ...  so no more lottery jackpots for the teeraks ???

I would like to know what BMs on the ground observed and think in this regard?   Perhaps the Thais better not mess with the current system of tight but willing farang cash cows that are proven ATMs for the Issaan natives...

 

Judging from what you are saying, your comments refer only to Thailand and it does not happen in other countries,correct?.

I would beg to differ. Sure there are some falangs who have been duped, but that happens everywhere. I would love to move to Thailand but with the rules as they are, and my work situation, it would be very difficult.

With the average length of marriages in the western world not lasting longer than an icecream in the desert, then the wife, who is usually the lesser contributer, gets half and walks away. How is that different to the Thai girl situation. A major problem in Thailand is that the falang cannot own land. Has to be in the Thais name.

If a guy is that naive and cannot see what is happening, then that is very bad luck!.

It sounds to me Rom, that you have experience in this matter. It seems to show through in your comments.

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I can tell by the tone of the responses so far that I hit a nerve with the BMs who posted, which was not my intention.  Nor was it to generalize to every single expat case... Apologies if my line of reasoning and drafting disturbed you.

I think it's a known FACT to the point of stereotype that many (NOT ALL) farangs get carried away/ duped into acquiring assets in Thailand in the name of their Thai lovers, houses in Issaan being the most stereotypical and costly such asset.   While in some cases the couple may live happily ever after in those homes, in some other cases that end with separation it will be impossible for the farang to legally recover any of the money he spent on the house.  The end result from a NATIONAL ACCOUNTING POV is that a a sizable income transfer (the house value) will accrue in favor of Thailand, which was what I was trying to compare to the potential income inflows from the wealthier farangs targeted by the new visas.  To the extent that such wealthier farangs are presumably more educated, they would be less likely to enter into relationships with rural uneducated Issaan partners resulting in a NET loss in income inflow to Thailand from not building and gifting the proverbial houses.  On the other hand, the new visa farangs may enter into relationships with urban more educated Thai partners, which will also be costly if they end with separation.

In starting this thread I was playfully counterweighing my own argument (and the Thai authorities apparent stance) that richer, more educated farangs are a no-brainer over the traditional "sexpats-on-a-budget".  Notwithstanding my caveat about the houses in Issaan, I still think that's the case. 

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44 minutes ago, Rom said:

I can tell by the tone of the responses so far that I hit a nerve with the BMs who posted, which was not my intention.  Nor was it to generalize to every single expat case... Apologies if my line of reasoning and drafting disturbed you.

I think it's a known FACT to the point of stereotype that many (NOT ALL) farangs get carried away/ duped into acquiring assets in Thailand in the name of their Thai lovers, houses in Issaan being the most stereotypical and costly such asset.   While in some cases the couple may live happily ever after in those homes, in some other cases that end with separation it will be impossible for the farang to legally recover any of the money he spent on the house.  The end result from a NATIONAL ACCOUNTING POV is that a a sizable income transfer (the house value) will accrue in favor of Thailand, which was what I was trying to compare to the potential income inflows from the wealthier farangs targeted by the new visas.  To the extent that such wealthier farangs are presumably more educated, they would be less likely to enter into relationships with rural uneducated Issaan ladies resulting in a NET loss in income inflow to Tailand from not building and gifting the proverbial houses.  On the other hand, the new Visa farangs may enter into relationships with urban more educated Thai partners, which will also be costly if they end with separation.

In starting this thread I was counterweighing my own argument (and the Thai authorities apparent stance) that richer, more educated farangs are a no-brainer over the traditional "sexpats-on-a-budget".  Notwithstanding my caveat about the houses in Issaan, I still think that's the case. 

I am probably the odd one out in all this , This house I have built up here is in my name  same as the car , bike , tractor and equipment.  The farm land I will never own, I knew about the land way before deciding to move here . I know other expats that have made the same move as me up here and have all done the same thing. 

  Lazy people take the easy way out.... cut and run 

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7 hours ago, stoolpusher said:

This house I have built up here is in my name  same as the car , bike , tractor and equipment.  The farm land I will never own

My understanding is that a house can be in a foreigners name but as you know the land underneath must be owned by a Thai and then can leased back to the foreigner for 30 years.  More common when purchasing an existing house is setting up a Thai company that a foreigner controls even though he only own 49% of the shares.   

Quote

Can Foreigners Buy a House in Thailand?
Foreigners are not allowed to own land outright, but if you want to Buy a Villa or a House in Thailand as a foreigner, that can be done by setting up a Thai company to own the land.

The company shares have to be owned a maximum of 49% by foreigners and a minimum of 51% by Thais to accommodate the law. Owning a property this way is referred to as Thai Freehold, as the Thai company will own the property as an asset just as if a Thai citizen would own it under their own name.

The company ownership is structured in a way so the foreigners have full control of the despite owning the minority (49%) of the shares. This is a common way for foreigners to do business and own property and 100% legal: even multi-billion dollar international business chains are operating this way in Thailand, not only when it comes to property.

There are thousands and thousands of land parcels and properties owned under this kind of company structure. Many legal consulting companies offer this type of service to foreigners at very reasonable rates. This way you can own any type of property in Thailand under your own company name.

The cost of setting up a company in Thailand is approximately 45,000 THB. Yearly costs are roughly 20,000 THB for a company solely set up to own a property and not doing any business.

You can use this company to set up an actual business, get a work permit or visa that will allow you to stay in Thailand legally so it is possible to kill two birds with one stone. Owning an asset will also increase the company’s credibility for future business actions.

Another way for a foreigner to own property by proxy is via a Thai citizen such as a spouse, or a trusted partner. This has obvious drawbacks and comes down to a personal decision.

.

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12 hours ago, Rom said:

I can tell by the tone of the responses so far that I hit a nerve with the BMs who posted, which was not my intention.  Nor was it to generalize to every single expat case... Apologies if my line of reasoning and drafting disturbed you.

I think it's a known FACT to the point of stereotype that many (NOT ALL) farangs get carried away/ duped into acquiring assets in Thailand in the name of their Thai lovers, houses in Issaan being the most stereotypical and costly such asset.   While in some cases the couple may live happily ever after in those homes, in some other cases that end with separation it will be impossible for the farang to legally recover any of the money he spent on the house.  The end result from a NATIONAL ACCOUNTING POV is that a a sizable income transfer (the house value) will accrue in favor of Thailand, which was what I was trying to compare to the potential income inflows from the wealthier farangs targeted by the new visas.  To the extent that such wealthier farangs are presumably more educated, they would be less likely to enter into relationships with rural uneducated Issaan partners resulting in a NET loss in income inflow to Thailand from not building and gifting the proverbial houses.  On the other hand, the new visa farangs may enter into relationships with urban more educated Thai partners, which will also be costly if they end with separation.

In starting this thread I was playfully counterweighing my own argument (and the Thai authorities apparent stance) that richer, more educated farangs are a no-brainer over the traditional "sexpats-on-a-budget".  Notwithstanding my caveat about the houses in Issaan, I still think that's the case. 

 

 

Holly shoots ! You are  twisting yourself in knots with nothing. Why worry so much for expats ?

You are trying to make a whole theory since the Thai government creating a new retiree visa to attract better off people. Are you concerned by this new visa ? Do yçou fear a previous visa you thought you would use later is likely to disappear, what would threaten your projects ? Take it easy and think of your fun next time you will be fishing your 3 legs girlfriends. 

I felt like commenting a couple situations I knew but it's none of my business. Some people including ladyboys mongers chose to invest in real estate in Thailand, either a condo in Pattaya or a farm in Issan. Other people decided not to, either they have enough money or not, but WTF ? IMHO an expat has no better aura than a cheap charlie. We are supposed to share about ladyboys in community forums but we chat more and more of old men's business; have we become that old ? 

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  • 2 weeks later...

from the few I know up there, the country life is fine and there are MANY MANY expats living pretty much full time there...but they DO contribute mightily to her family for sure.  I've wondered if this phenom was becoming so popular that the girls were leaving Issan in much lower numbers causing a bit of a shortage of workers in Bkk, etc.  I mean if we all made an end run around the traps like Pattaya, Bkk, et all and headed straight to the source, well it might change things.  To me it's like here where everyone wants the rich customer. LOTS of stupid high prices and places with those prices

hello? can you say Walmart? 

I'd rather have 1000 lower income folks spending all they have than 100 rich blokes splashing big on occasion. Just because someone is rich don't mean they spend big and like a fool.  My feeling is that if they opened up to ALL again, money would flow. Backpackers spend like well, um, like kids. I personally spent over 20k over the years and that was while staying in 300 baht guesthouse dorms, IN Bkk, off Suk. 

the main downside of letting EVERYONE in that I can see is it DOES take a toll on the environment, increase in stupid crimes, but then again they probably make good money bustin kids for weed at full moon parties, etc.

There's already WAY TOO MANY posh digs and resto's in the resort areas. If I had big money i'd invest in Khon Kaen or maybe Korat.  I'd love to see stats on where farang movement has been to over the last 10 or so years. 

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