September 12, 2024
The Overall Plan
After some excellent conversations with friends who helped motivate me to sell a condo in Thailand, there was some necessary followup. As a quick recap, the condo was bought around 2012 in Pattaya. Right from the beginning it was a headache that lasted the entire time until I sold it in early 2024. Coincidentally, just this week I got a call from another friend who wants to buy there with the same reasons I had which was to collect money from rent while living outside Thailand. Not surprisingly I'm going to try and talk her out of doing that.
With the condo sale successfully done at around a 20% profit, it more or less covered all the losses. Now the question remains: what to do with the capital? It has been sitting in a Thai bank account which pays pitiful interest. Considering all the effort it took to open that account, it isn't paying off, plus I don't have much confidence in the Thai banks to begin with. Who even knows if they'll freeze or close that account at a moments' notice and just make up a reason.
As a friend correctly told me, "You need to get that money into the market." Completely agreed. But how exactly? You don't just wire the money out, it's hardly that simple with the Thai banking laws. But where there is a will, there is a way. This tour will aim to accomplish exactly this end.
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