Thailand question: Does it make sense to buy a restaurant or hotel in Thailand now?

Buying a restaurant or hotel seems to me to be a gamble on the future.
Something with money that you should be able to lose without getting into trouble.

If you don't know anything about Thailand – apparently you've never been there – I wouldn't get involved with that restaurant, or hotel, if that's the intention.

What Ruud says, think before you start
Been on this forum since yesterday, what for you?
https://www.thailandblog.nl/lezers-inzending/te-koop-van-een-lezer-een-resort-in-bangsaray/
Have you ever watched the program “I'm leaving”?
Take off the rose-colored glasses and be critical about how or what.

Very dependent on when tourism will resume optimal forms, prices in this sector are now very favorable.
Favorable because given the almost halting international tourism, many companies are running out of water, and many have long since given up on their business.
How long an upturn will last, and how long you can afford yourself financially, together with experience and knowledge of the country, is very important for answering your question.
Moreover, if you have never been to the country yourself, it is very imprudent to rely only on a neighbor of Thai descent, who may also need you for the bulk of the investment.
First go and see for yourself, don't be fooled by a friendly neighbor who is also your superior in terms of speech, think along very critically, and leave your pink glasses at home.

Hi Marcel, if I read the above to start a rest/hotel with some partners some of whom are Thai my recommendation would be to stop while you still can. Don't use rose-colored glasses, use common sense. Partly in view of the experience you have in Thailand, I would say, don't start. Realize that you don't speak the language, don't know how things work here because realize that "bribes" are very normal here, something we hardly know in the Netherlands. And then I say it carefully. If you decide to start something here, I wish you all the luck in the world.

Dear Marcel. A restaurant or a hotel is only good as a hobby. It is virtually impossible to make money with it! Staff is difficult and unmotivated, you have to make a choice whether you want to work for tourists or for the local population. If you pay high wages for your employees, there is almost no profit left. If you pay low wages, you have a lot of turnover with all the associated problems. The acquisition costs are often 5 to 10 times too high, so that earning back is almost not an option. For many farang who come to Thailand and have found a young female, would like to have a business so that the female can work there, because usually the wages if they go to work elsewhere are only 300 euros per month or even less. They then think if they own a company that they will earn a lot more. Farang cannot get a work permit either, so they can only watch from the sidelines. The police can easily find you if you do wrong. They will also find you if you do good because they believe they are entitled to a monthly brown envelope for protection. In short, never start a company together with others. You will always lose out because you don't speak the language and can therefore be fooled with anything. If your neighbor is a friend now, it probably won't be over time and you'll be stuck with the baked pears. If you can't hold back, start something from scratch and build it up without paying anyone goodwill. There is so much vacancy throughout Thailand that you almost get extra money if you want to rent something and don't have to pay for a takeover. We have had a very successful restaurant for 8 years and when covid showed up last year we closed to see if it would get going again. Just decided 2 weeks ago never to open again and to leave things as they are, because we think it will take another 2 years before things get going! We're not going to wait for that. We can always start again from 0 somewhere where we think there is enough clientele! Good luck figuring out what you want and go to Thailand for vacation or for retirement and not to earn something because you won't succeed.
Goodbye
Skippy

There's a joke (with serious undertones)
Q: How do you become a millionaire in Thailand?
Answer: By entering the country as a multimillionaire.

marcel,

Don't do it, enjoy your (savings) You can't do business without a Thai partner, Thailand
does not yet have the C virus in order. Go look around yourself first and talk to people, and if you do
want to start something, you must stand out with your company/business, i.e. there must be added value,
moreover Euro/Thai Bath the exchange rate is not good either, Keep smiling

Joseph

In Thailand, anyone can start something and many are self-employed and active. There is no stopping and the competition is fierce, especially in the food business. I also have such an enterprising wife, it is carrying water to the sea. Investments that never materialize. We first had a market stall that went well in the beginning and then a morning market came next to our afternoon market and the goods are cheaper there, so the customers were gone. Now a restaurant of ten in a row, but with a considerable investment that is never paid off with the limited number of customers. She has just bought land and wants to do something with it. Could not be paid in cash, so on installment, but immediately charged more than twice the original purchase amount over six years. Thought my wife was okay. Plants and trees have to be planned and they are not free either and who maintains that remotely. The entrepreneurial blood creeps where it can't go. But hey, I'm not her boss. So much money thrown away in seven years of residence. No, think before you leap, because the headaches will not go away. There is so much involved and rose-colored glasses are certainly not one of them.

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I hear a lot of reasons, good reasons, for absolutely NOT doing it.
And then later, in the old people's home, thinking: "how would it have turned out, if I had done it".
Good to think in terms of possibilities, then you will at least get somewhere.
But note the weaknesses.
Several people are apparently involved (friends and friend of friends), who decides?.
Discuss and record in writing in advance: division of tasks with powers and obligations.
In Thailand the principle often applies: Money = God. It happens so often, that "oh so reliable" people suddenly run off with the money, stay with it!. Getting your rights is difficult and expensive.
Language barrier also in official documents, work permit, etc.
You can now cherry-pick: many things for sale and rent, buyer's market. But to buy right away?
Perhaps start a year in rented premises when tourism starts again. If things turn out to be going well business-wise and with the partners after a certain period of time, then look further.
Success.