This is a question to expats in Pattaya.
Hello, I'm 42 years old - have visited Pattaya for 7 years now, and I want to invest in property in Pattaya the coming 10 years so to build up a rental property portfolio - and ultimately live from rental income in Pattaya. I'm looking to invest in property which is very common and very well suitable to rent out full 12 months.
Given this focus - my questions are the following:
1. In what area of Pattaya should I invest to have most changes on 12 months occupation for a good average rental price (high season + low season) and why ? (Wong Amat - Central Pattaya - Pratumnak Hill - Jomtien) ?
All areas are as easy or as difficult to work in. Wong Amat will attract most russians and Germans, Central Pattaya will attract a mix of all expats, Pratamnak Hill will attract most Russians as will Jomtien. You forgot East-Pattaya, the dark side. This is an upcoming area and is getting 'brighter' month by month. Here you will find most long-term residents.
2. What type of property is most comon for permanent rental occupation (studio - 1 bedroom - 2 bedroom) Why ?
Sorry for my daft answer, but most wanted is: a one-bed apartment at a studio price. On the bright side of Sukhumvit, apartments are most popular and on the dark-side houses are most popular.
3. Would this be a succesful plan (rental property portfolio in Pattaya) ? Why or why not ?
You won't be the first one, but I think that if you are able to manage and maintain your property and its inhabitants in a fair and decent way, it can be done. Stay away from agents and establish a company which will take care of management, marketing and maintenance.
4. Is it easy or hard to find tenants in Pattaya ?
No, unless you ask ridiculous rental-fees or offer below expectations.
5. What is important for me to know (which I don't find on the internet as only insiders know) ?
Important is a clear agreement between you and your future tenants. Nothing in Thailand is based on trust, but more on suspicion. Keep that in mind.
I appreciate all your answers and views...