Why would you retire into a stable income and free time, just to turn around and buy an expensive, time-consuming, stressful life as a bar owner? Doesn’t add up.
Guys holiday there and think its going to be the same living there, then they fall hard for a Thai woman with her own agenda, ( and they all have their own agenda). Farangs are considered economic opportunities that's all, as one old Expat who left there told me "the Thais only want us there while we're spending the Baht, after that its 'fark off out of our country".
BINGO. I did that from my early 20's because I could live like a king whereas in London I was paying for bad service, quality of life etc. Yet, everyone used to tell me I was wasting my time! On a beautiful beach with a live in maid> okay.
You don't just buy the name of the bar, you buy the pool tables, fridges, bar, chairs, tables, existing stock. Basically everything that the bar contains. But yes, a lot of bars fail.
A few people here are judging the guy, but to be fair he mentioned wanting to keep busy while meeting new people while making a bit of money on the side. The money sounded like a bonus or afterthought. Obviously, the idea of owning a bar probably seems glamorous and fun until reality sets in.
But he's old enough to know that a business requires constant investment, paying staff, and being in Thailand where people are corrupt he should have had legal representation and advice, protection, etc. from the start, it's obvious.
Well, I wouldn't have made the same mistakes either but I'm not about to judge the bloke in hindsight just to feel better about myself. It's a life lesson that he was kind enough to share here, and hopefully someone learns from it. He knows he made mistakes and said so. Before anyone says it, no I'm not the bloke who sent the story 🤣 but i do respect him for educating anyone listening who might find themselves in his position.
Unless you have been there a while and speak Thai and have connections, investing in any business there is only for fools, and their money...One thing is for sure I will NEVER invest 1 cent in that country. Also, this is a very good point on leasing. Imagine you buy a USD 500k house in Hua Hin as advertised with cute girls, mmm, ok, its on a 30 year lease, say after 10 years you want to sell up and move to Patts, so off to the land office with the owner of the land who MUST agree to a new lease with a new buyer of the house. Well, they may not want to do that, or maybe for a HUGE cash bonus to them. You see, use your head and RENT RENT RENT don't try and own anything over there except perhaps a MB or car.
Better to have income from your home country (like renting out your house). You never know what the pitfalls are, when you go into something unfamiliar.
3 million baht was "all my money"? If that's so, you had no business even thinking about retiring in Thailand. That's about $85,000. Unless you have a pension or SS and your house paid off, you shouldn't retire with less than $1MM. So mistake #1 was not having enough money to retire.
Nah... Bs man.. according to the economy and the government we can easily retire with 0$ later.. cuz that's all gen millennials and gen Z will get. But that's besides the point. If the dude didn't get scammed he probably would have had a successful business by now. 80K dollars is more than enough to start something good and profitable in Thailand. Just don't be dumb about it.
75000 pounds plus English government pension of 1000 pounds a month would have given him a monthly income of 2000 pounds a month (80000 baht a month) for 75 months 😂😂
@@johnnielson4341 your right. These are usually guys who have "normal" type jobs in the west and lose their life savings thinking it's cheap to live in Thailand. Well you can live cheap but most Westerners won't enjoy it LOL
Hey a little suggestion if you don't mind and if it's not to much trouble. It would be cool if you could show a map of where you have been walking when you make these.
Always remember: there's a huge difference between visiting as a tourist and actually living somewhere. The property owner doubling the rent knowing that he couldn't make is was a dick move.
I know that this would be impossible to calculate but i would love to see what the average return on invest is on the Pharangs that invest money in setting up bars, guest houses, restaurants, ect in Thailand. I wonder if it is even an overall net positive gain made?
I would guess very close to losing money. Bored shitless drinking too much beer and stuck , worried about going into the red all the time. That cannot be fun. I'd go and live there for a year, talk to bar owners, do mu due diligence and if i was still into the idea get legal advice and representation and pay for it to be done right as well.
I've only listened to 4 minutes at present but you did not buy the bar. You paid key money. You stupidly spent money on the infrastructure, which means they are going to increase the rental. You didn't know there was only one year left on the lease? You said you knew how bars worked. You are lucky you got one year as I would not think you had any rights to a lease not signed by you but to another person. You were the perfect fool for them. They do this all the time. 2 million baht plus 0ne million baht upgrade. You must be nuts. Oh, they certainly saw you coming!
Why buy a bar just go to bars it’s such a headache I knew the owner of Serentity go go it sounded like biggest hassle just to look like the king of a club and girls
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
Why would you retire into a stable income and free time, just to turn around and buy an expensive, time-consuming, stressful life as a bar owner? Doesn’t add up.
💯
Guys holiday there and think its going to be the same living there, then they fall hard for a Thai woman with her own agenda, ( and they all have their own agenda). Farangs are considered economic opportunities that's all, as one old Expat who left there told me "the Thais only want us there while we're spending the Baht, after that its 'fark off out of our country".
Men need a mission.
@@Dutchy695 Agree totally, but GL why that one? :)
Invest your capital in the West and live off the income in the East.
That’s how easy it is. 4m Baht in the s&p 500, happy days.
BINGO. I did that from my early 20's because I could live like a king whereas in London I was paying for bad service, quality of life etc. Yet, everyone used to tell me I was wasting my time! On a beautiful beach with a live in maid> okay.
@@nomadicsouls3290 Uh, no. He would have about a$5-600/month income.
Say it loud so the people in the back of the church can hear ya
It's that simple. I can't even list all the obvious reasons why it's such a bad investment opening a business here 😂😂
Old joke, "How do you make a small fortune with a bar in Pattaya ? Start with a large fortune".
You don't just buy the name of the bar, you buy the pool tables, fridges, bar, chairs, tables, existing stock. Basically everything that the bar contains. But yes, a lot of bars fail.
A few people here are judging the guy, but to be fair he mentioned wanting to keep busy while meeting new people while making a bit of money on the side. The money sounded like a bonus or afterthought. Obviously, the idea of owning a bar probably seems glamorous and fun until reality sets in.
Buying a bar....profits come last.... hahaha 🤣🤣🤣🤣🤣.
Mamasan probably ran off 📴 with the profit s.
But he's old enough to know that a business requires constant investment, paying staff, and being in Thailand where people are corrupt he should have had legal representation and advice, protection, etc. from the start, it's obvious.
Well, I wouldn't have made the same mistakes either but I'm not about to judge the bloke in hindsight just to feel better about myself. It's a life lesson that he was kind enough to share here, and hopefully someone learns from it. He knows he made mistakes and said so. Before anyone says it, no I'm not the bloke who sent the story 🤣 but i do respect him for educating anyone listening who might find themselves in his position.
@@chrisgreen2786 no legit lawyer is going to take on an idiot bar owner on as a client.
Maybe to milk 🥛🍼 him dry....ok.
He was probably permo-drunk through the entire process
Unless you have been there a while and speak Thai and have connections, investing in any business there is only for fools, and their money...One thing is for sure I will NEVER invest 1 cent in that country. Also, this is a very good point on leasing. Imagine you buy a USD 500k house in Hua Hin as advertised with cute girls, mmm, ok, its on a 30 year lease, say after 10 years you want to sell up and move to Patts, so off to the land office with the owner of the land who MUST agree to a new lease with a new buyer of the house. Well, they may not want to do that, or maybe for a HUGE cash bonus to them. You see, use your head and RENT RENT RENT don't try and own anything over there except perhaps a MB or car.
Only invest or buy what one can afford to lose.
Well said and true..
Better to have income from your home country (like renting out your house). You never know what the pitfalls are, when you go into something unfamiliar.
Dumb Dumb Dumb… Don’t buy a bar#1, #2 if you buy a business always check the lease without a lease you have nothing.
3 million baht was "all my money"? If that's so, you had no business even thinking about retiring in Thailand. That's about $85,000. Unless you have a pension or SS and your house paid off, you shouldn't retire with less than $1MM. So mistake #1 was not having enough money to retire.
Nah... Bs man.. according to the economy and the government we can easily retire with 0$ later.. cuz that's all gen millennials and gen Z will get.
But that's besides the point. If the dude didn't get scammed he probably would have had a successful business by now. 80K dollars is more than enough to start something good and profitable in Thailand. Just don't be dumb about it.
75000 pounds plus English government pension of 1000 pounds a month would have given him a monthly income of 2000 pounds a month (80000 baht a month) for 75 months 😂😂
@@Paul_in_Thailand And then he's broke
@@johnnielson4341 your right. These are usually guys who have "normal" type jobs in the west and lose their life savings thinking it's cheap to live in Thailand. Well you can live cheap but most Westerners won't enjoy it LOL
He could have just found a property, leased it, and set up his own bar for a million.
Hey a little suggestion if you don't mind and if it's not to much trouble. It would be cool if you could show a map of where you have been walking when you make these.
how about google maps. he passes a lot of establishments with signs on them to look up
I'll try add this to videos after the New Year :)
They saw him coming a mile away.
"Owning a bar in Thailand" is the second oldest scam in Asia.
I cannot believe that people can be so stupid.
Pattaya บ้า scene, this will not be last unfortunately. Self inflicted can't even blame the devious "girlfriend".
Always remember: there's a huge difference between visiting as a tourist and actually living somewhere. The property owner doubling the rent knowing that he couldn't make is was a dick move.
I know that this would be impossible to calculate but i would love to see what the average return on invest is on the Pharangs that invest money in setting up bars, guest houses, restaurants, ect in Thailand. I wonder if it is even an overall net positive gain made?
Minus 100%
I would guess very close to losing money. Bored shitless drinking too much beer and stuck , worried about going into the red all the time. That cannot be fun. I'd go and live there for a year, talk to bar owners, do mu due diligence and if i was still into the idea get legal advice and representation and pay for it to be done right as well.
if you're buying something, someone's selling it, and why would someone sell a good thing that brings him a profit?
This is a GOOD story. Not fun losing your entire savings for a year of living the dream, for sure.
Jon I’ll bet most bars make little or no money, some are even money losers. High season then low season.
I've only listened to 4 minutes at present but you did not buy the bar. You paid key money. You stupidly spent money on the infrastructure, which means they are going to increase the rental. You didn't know there was only one year left on the lease? You said you knew how bars worked. You are lucky you got one year as I would not think you had any rights to a lease not signed by you but to another person. You were the perfect fool for them. They do this all the time. 2 million baht plus 0ne million baht upgrade. You must be nuts. Oh, they certainly saw you coming!
Oh, the irony. A plumber with a leaking bank account!
Greg from Aussie in Thailand bar story is no different...
WelshWebby, Buzzin, Ndtvi, lePub 😂😂😂😂😂😂😂?
Why buy a bar just go to bars it’s such a headache I knew the owner of Serentity go go it sounded like biggest hassle just to look like the king of a club and girls
Buy bitcoin even at the current price
Why do stupid people with a pocket full of money think they can make money from a money pit bar.
Ever heard of a solicitor
Especially in Thailand
Always rely on a lawyer in Thailand if you want lies and deceit
No.