New Real Estate Business Ideas for 2024

Updated May 16, 2024 | Posted Nov 28, 2023 | Professional insight, Business | 0 comments

A lot of people are looking for new real estate in Thailand for investments. With the wave of popular expatriate entrants in the industry, sometimes, it seems there aren’t enough properties available for immediate investment. This may have been your experience, especially if you attempted to purchase during the peak seasons and holiday hours. It could get really frustrating.

According to Thailand-Real.Estate one of the most challenging confrontations that new entrants experience in the real estate business in Thailand is the sufficiency of apartments. That is, firstly, finding an apartment that suits their intendments, and it is even more challenging seeing that needs, plans, and purposes are as diverse as the sands of the seashore. One purchaser is coming for one thing, and another, another thing, and by the time you have checked a couple of websites and painfully searched without a solution, it appears like an arduous task to get what you want, where you want it in Thailand. There are two routes that experts have recommended in surmounting this challenge:

 

  • Use the Thailand-Real.estate website

The Thailand-Real.estate website will improve your search and property journey by offering the widest array of properties in Thailand in our source. It is the largest database of properties in the country, and it achieves that title by acting as a converge of all online postings on properties that are available for sale, rental, long leases, etc. If you are particular about searching for the property yourself, this is the place you should be searching for the best experience and fewer challenges. So, this is one way to do it.

 

  • Link up with agents and communicate your specific needs

Another way to get the property of your choice in the location of your choice is to link up with an agent that is on-ground/ present in Thailand and deals in property in the country. These agents could be your foot soldiers in the terrain; they often have industry knowledge and city credibility in their searches and are often able to penetrate all the nooks and crannies of the countries. If there are hidden gem opportunities, these are the people to talk to in fishing the properties out. Luckily, the Thailand-Real.state is also the widest online database of agents in Thailand. By linking posted properties from various locations and sources, the website gives you access to the agents who are often the posters of the various properties. You can reach out to them for any of the properties that you have in mind or make bookings for newer ones.

 

  • Buy-Flip-and-use

This is the third option. If you cannot find a house that suits your needs, then perhaps it is time to buy a property and convert it into your dream house/ fit it to blend well into your business plan. This is literally the best way to go, especially where you have specific needs that cannot be easily met. Read on for more ideas on this.

 

Buy & Flip – How to make it work

 

The buy-and-flip model is one of the new dimensions foreign investors are beginning to take in the Thailand Real estate market. For many decades, buyers engaged in getting properties off the market already made. That is, by buying property from the existing owner – in such a scenario, such property would already be complete and in a liveable state, and you may not need to do anything additional. Such properties are ready to use immediately. But the drawback is that at least 80% of the market purchasers are after such properties, increasing the demand and their cost price and doubling the competition.

When you buy and flip, the story changes; the target, in this case, is not already made/ready-to-use apartments but rather houses in their lowest states that need renovation and revamping. The advantages to this are many.

  • First off, there is less competition for these categories of houses. You do not have to deal with the anxiety of seeing a dream house and finding out it has already been purchased by someone else before you close the deal. The lessened competition also leads to the next advantage:
  • They are cheaper and more affordable: When you consider the amount of money you would likely invest in refurbishing the apartment/ building, it may cumulatively cost more than buying a whole new house. However, the advantage here is that you wouldn’t be settling for what is merely available; you would be recreating your dream. It is splendid for expats who are looking to move to Thailand and for people with a definite plan and structure in mind.

 

Rent / Resell

 

The final and most intriguing part about the buy-and-flip arrangement is that you get enough space to make your money. Investors who engage in this business model either refurbish an existing structure based on its current architectural design and use more sophisticated materials to finish it (in which case, you can proceed into rental once it is done), or they raze down the building and reconstruct something new, with a different layout on the same land. Those that do the latter often have plans to reserve the building for other uses, which include personal habitation, hotel and lodgement plans, and, thirdly, resale plans.

It is perhaps important to include that the resale plan may be the best for this business model. That is because usually, investors expend a lot of capital on the revamping project such that it may not make much sense to delay the recouping of the capital for years. Where such properties are not for private use, they tend to resell them at the prevailing market rate as soon as the rebuilding is complete. Hopefully, with this article, you will have gained a great deal on the advantages of the flip and sell model and how it saves a lot of stress for investors.

Updated May 16, 2024 | Posted Nov 28, 2023 | 0 comments

About the Author

About the Author

Mike Cupit has been in the decorating industry since 2002 and has mostly worked as a Trade Decorator in the domestic sector (peoples’ homes). Self-proclaimed “product geek”, Mike has a passion for paint and decorating tools. Mike now spends most of his time testing paint products and tools, comparing them to similar products on the market, and blogging about the industry in general.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *