I want to buy small beach hotel

kvjn1954 New member

5POSTS

9 years ago

I am looking to buy a small beach hotel!
Where would be a good place to look?
Is it best to deal with an agent?
I fly into HCMC on the 19 of April for a week to look around then on to Thailand. I am from Canada

5 members reacted to this post

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Guest2023 Guest

0POSTS

9 years ago

It all comes down to what you want to spend.

kvjn1954 New member

5POSTS

9 years ago

That is why I'm looking an agent to see what's for offer

Guest2023 Guest

0POSTS

9 years ago

Vietnam is a long country you may want to say what area interests you, brokers usually only deal within their local area.

Something like this.....http://123nhadat.vn/raovat-t675476/ban-khach-san-nha-nghi-tai-tp-phan-thiet/khach-san-tai-mui-ne-dang-kinh-doanh-tot.html

kvjn1954 New member

5POSTS

9 years ago

Thank you for your post. I did see two properties for sale in mui ne and plan to take a lot

phikachu Serial expat

352POSTS

9 years ago

kvjn1954 wrote:
Thank you for your post. I did see two properties for sale in mui ne and plan to take a lot

Have you got a link to them? Don't worry I'm not on the market for one...

Just curious as to beachside land. I would have thought all the prime coastal beach land would have been cleverly grabbed back by the state and sold off to international resorts.

phikachu Serial expat

352POSTS

9 years ago

Oh and it does happen... Da Nang and Vung Tau is scattered with abandoned half built beach resorts from the last property bubble and there was an article where the Government was giving an ultimatum to finish them or have their licenses removed etc and no doubt sold again to the next highest bidder.

I took a nice swim on the private beach of this one

How small time locals get screwed over for their prime coastal land.

The abandoned resorts of da nang

alexquyen New member

7POSTS

9 years ago

Dear kvjn1954,

I have 6 hotels in selling. I sent you my contact in PM . We can meet when you are in HCM

judicael New member

7POSTS

9 years ago

Hi, I m not an agent, I know someone selling his resort in Mui Ne , Cost roughly 8 millions usd. Let me know if interested

70 years old Serial expat

581POSTS

9 years ago

#10

kvjn1954 wrote:
Thank you for your post. I did see two properties for sale in mui ne and plan to take a lot

I own a house near M农i N茅 and Phan Rang in Phan Thi岷縯. M农i N茅 and Phan Rang adjoin, are beautiful and reasonably affordable. But, M农i N茅 and Phan Rang customers are largely Vietnamese with some Russians showing up. So, the languages that you would need would be Vietnamese and Russian

Pal444 Active member

78POSTS

9 years ago

#11

From what I know you cannot do this in VN.聽 You cannot buy a hotel in Vietnam just by using a real estate agent.聽 You cannot operate a business in VN as a foreigner until you have legal residency.聽 The way you presented your question it sounds like you do not know anything about Vietnam.聽 I do not make that statement to be rude it just sounds like you are short on understanding.聽 I was very ignorant and naive myself when I came here.聽聽Many hard expensive lesssons later I can honestly warn you...聽 Please be careful and seek a reputable immigration attorney in HCMC on your trip first.聽 There is no other way.聽 There is a route to do what you want in VN but you cannot do it without a good law firm. Legal status first then you can do things. You should also arrive on a busienss visa...you can get harrassed by police for simple inquiring about buying a business without a business visa. Good Luck.

1 member reacted to this post

Diazo Serial expat

948POSTS

9 years ago

#12

Listen to the good advice of Pal444. I am trying to think of someone I know that was able to last here in any kind of business that were foreigners ( the small guys, of course the Russian folks seem to last). But at some point the gov't gets in your nickers and makes it impossible. I think bed space per tourist population this country has to rank at the top. The ROI for, especially a Westerner seems to not be worth the time to get out of bed. A local told me if I invested a 1/4 million US I could make the princely sum of $500 a month.

1 member reacted to this post

Ishrampoodles Member

3POSTS

9 years ago

#13

Investing in Cambodia makes much more sense. No red tape, no local partner ans Sihanoukville about to explode with Air Asia flying in. Check Sihanoukville facebook pages and ask on forums like khmer440.com and cambodianexpatsonline
There have been fortunes made in Cambodian hotels, but it may be too late as the Chinese buy them all up.

Pal444 Active member

78POSTS

9 years ago

#14

Diazo wrote:
Listen to the good advice of Pal444. I am trying to think of someone I know that was able to last here in any kind of business that were foreigners ( the small guys, of course the Russian folks seem to last). But at some point the gov't gets in your nickers and makes it impossible. I think bed space per tourist population this country has to rank at the top. The ROI for, especially a Westerner seems to not be worth the time to get out of bed. A local told me if I invested a 1/4 million US I could make the princely sum of $500 a month.

I can only say thanks for posting.聽聽It's indicative of real world expectations vs. what we as foreigners and expecially foreign business people 'see' here in VN.聽 We think we see opportunities everywhere because of our outside experience.聽 But this is a mirage.

Our 'seeing' is not reality.聽聽I mean to make my point more clearly.聽 Just because you see opportunity in VN does not mean you are the person who could make something happen...or does not mean that your Western bias is actually properly tuned to know the difference between a 'pipedream' vs. 'the next big thing' ....but you will have 20 VN associates who will tell you that you have a great idea ...but of course they will tell you that you need to put them or their brother or daughter or cousin on the payroll to help you do it..聽聽This market is rigged with invisible trip wires conected to government claymor mines just waiting for you to be bled out by your local government criminal ...plust the ever-present camoflagued punji stick lined pits called VN parnters.

Be careful everyone....it's very easy to loose here and very hard to win.聽聽Don't convince yourself that you are special and thus will succeed.聽 Sorry....just being honest.

1 member reacted to this post

Diazo Serial expat

948POSTS

9 years ago

#15

@pal444
聽 Sage advice that all should heed. Think, think again, and think again. If your still going forward with the business then you will probably join the group that have already failed. I have worked with many aspiring business seeking folks here. NEVER has one showed me a business plan at all, let alone a 5 year business plan. The easy way to see what your up against is to begin work on your business plan. This is the place to lose with the least amount of money spent, the business plan. See what you learn when you try to plug the numbers in to your business plan for the vehicle traffic you obtained from the Chamber of Commerce. When you try to learn the current total bed capacity currently available see what you learn. Then once you open your doors and have spent all the money you realize the due diligence was a tad lacking and the city will not let you put your sign up, your unable to advertise you are a hotel and the existing sign says you were a Karaoke joint. Then you learn the Karaoke guy did not like to pay his taxes like so many here. And until you pay the back taxes you are stuck. Had a wonderful friend here who opened a Thai restaurant here where massage parlor use to be. They could hardly getting anyone to try their Thai food. But sure had the takers on a massage.

1 member reacted to this post

bienhoa Member

2POSTS

8 years ago

#16

Hi:

One week not really go that far: Time to look for property, contacting, visit, negotiation, and so on.

My suggestion at least two weeks to 1 month. Buying property not like buying a shirt. I'm straight, so don't be uptight. If you wanted, contact me:聽 (***. (Ted). Expat site prohibited email. Send me an SMS with your email. That's for now.

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