[TimoDass]

Well as of last Friday all the money has been sent. Now it's time to sit, wait, and see if they can pull this off. They already have a place picked out and they will start renting the place out sometime this week. I pray their efforts are met with success.

[ulw7A8Po]

I agree Paul, but I think Farang is looking at the money more as a gift. But you made some very valid points, points that farang should read through before considering if he will get money back. Basically like Paul said Doug, If you have any plans to get money back you will likely lose your friendship. But I think you took the right approach on the matter.

[TimoDass]

Thanks for the advice Paul. I'm sure the pointers on starting a business will be usefull to me later in 20 years or so when wiser and have enough money to actually start a business of my own. This time around it is more of a gift and a small social experiment of mine. My friends promise to pay the money back, but it is not a condition of the loan. I do not expect the money back what so ever. I do not want to lose any friends over this matter, which is why I decided early on that it would just be a gift/donation of goodwill.

[juidizHusw]

You mentioned you had airline tickets, were you planning to go to Thailand ?
Too late now but, maybe you should have gone there to check things out. Then again, perhaps the rent might have gone up if the renters new a farang was involved.
I don't know the statistics of new businesses failing in Thailand but, in the U.S. it's quite high and the biggest factor is poor planning.
I've never been to Hat Yai but, from what I understand it's not a top tourist spot.
Can Hat Yai support another restaurant ? Will they be going after the locals or tourists ?
Just some things to think about.

[ulw7A8Po]

Amazing again... Of all people too.

I think a $1,500 learning moment is a fine way for you to learn. Maybe I will be wrong but if so it is only $1,500. Better for you to 'see' with $1,500 than it is for you to 'see' with $15,000.

I know the question of money 90% bad, but as you mention it does come by much easier here. If you know and trust her, I would say yes. Then you will truly know how far this trust and love goes by what happens a few months after the money is given.

[BenBoobmers]

There is a saying in friendship: The quickest way to lose a friend is to lend them money.
I personally have found that to be true, I have lent 2 different, people a few thousand dollars in the past and when it's time to pay you back, they don't want to know you, as they have no intention of paying the money back. Fortunately I always made them in there own had writing written contract signed with an independent witness, to pay the money back, when they not pay the money back, I repressed there furniture, it did not matter as they were never friends in the first place as they had no intention to pay the money back, I latter found out these people have ripped off many people in the same way.
In business the best guarantee of success is experience, I had success, and have no qualification, I had to work hard, persist and use common sense, before I became good at it. I had a friend who had a degree in business and she went bust 5 times and now teaches business. I retired at age 33 yo on an income approaching 1 million dollars a year.
The options you have are as below.
1)The bottom line, don't lend money to keep a friend.
2)If you look at it as investment, have a league contract drawn up so you, receive a percentage of the profits, and prepare to lose your eggs if you have them all in the one basket. To get a small business started have a financial plan and then double the amount of cash you need, be prepared to keep poring in cash into that business, till the good will, is established, always keep putting money aside for marketing in a restaurant as competition can make them collapse as fast as they grow, keep a good eye on your cash flow. Have a good product, and give good service, make shore the staff have an attitude the customer is always right and they have manners.
3)Give the money as a gift and tell them you not want the money back.

[Abraham]

Quote[/b] ]Good luck man Wish you the best!

Thanks alot!!

Quote[/b] ]Reading your reaction to my comments, I hope I did not over-voice the voice of moderation and planning.

Oh not at all. I was just trying to tell you that this is not something I'm jumping into blindly. I have planned it out.

Quote[/b] ]Wire transfers are about 40USD a pop

Luckly my bank offred me a promotional rate on international wire transfrers because I signed up for multiple transferes. Still the rate is not exactly cheap, running at $30 USD. I have set it up so that all I have to do is call my bank and tell them the amount and the account to take it from. So it will "save" me money to send it all at once.

[TimoDass]

Thanks Stacker

Quote[/b] ]You mentioned you had airline tickets, were you planning to go to Thailand ?

Yes I will be arriving in Hat Yai on the 6th of November.

Quote[/b] ]Then again, perhaps the rent might have gone up if the renters new a farang was involved.

Yeah I thought so too, as happens with everything once someone finds out a farang is involved. My g/f once rented out a resort in Trang for us to stay in. The cost was 2000 baht for 3 days. Once we got there and the resort manager saw she came with a farang they tried to up the price to 5000 baht.

Quote[/b] ]Can Hat Yai support another restaurant ? Will they be going after the locals or tourists ?

I'm sure there is room for another restaurant in Hat Yai. There are enough people there. The main target is locals. Hat Yai is not a major tourist spot but I have seen a few farang there.

As I said once before, I am not going into this to make profit. I am just being generious and hoping that the money I provide will help my girl friend and her family in the future. I do hope that there business does not fail but I am not going to lose any sleep over it.

[Crilosajsamq]

Yes, Delawang, and to be noted....In either case wether you two stay together or not you will likely not get the money back. I am certain if you stay in the relationship you will NEVER get the money back. My wife NEVER gives me money lol

Like Delawang said though, it can never hurt to give Just don't expect a return. View it more as a gift than an investment.

Again like Delawang said it is not money you recover in a month's wages, unless you live with your parents. Personally I would probably do as Delawang and save for a couple months to get at least half of it around before giving up a couple week's wages. Just so that you have a little padding for your own bills.

[ulw7A8Po]

That being said..... Check or Western Union? lol

Good luck man Wish you the best!

If you already view it as a gift you are cool then, give it to them. It will certainly improve their life, that can never hurt. I agree with how you say it is easier for you to come by the money than it is for her/them.

[TimoDass]

Su, my girlfriend who lives in Hat Yai Thailand, has asked me to help her and her brother, Pong, open up a restraunt. They want me to help with some of the overhead cost. Let it be noted that I will not be providing all the money. I will only be donating 25% of the investment. I will be giving 60,000 baht where the total amount needed will be 240,000 baht, so this project does not rely entirly on me. Su has just graduated with a bachlors in business accounting so I feel that she will has the level of education needed (besides previous experience) to run a business.

I know most of you will advise me to be wary of thai women who ask for money. To this I must say that I love Su and have come to trust her.

I feel obliged to help Su and Pong because $1,500 comes to me much easier than it would to them. I will feel a slight pinch in the wallet but it will only take a month to recover as this is about what I make in one month. I really want to help them too! It would make me so happy to see them succeed in this business venture, not to mention how much it would help their family.

I am posting this Because I respect your guy's opinoins and would like to know what you think.

~Doug~

[TimoDass]

I am so furious!!! I just spent the last 45 min writing a detailed post in response to you guys, but I wasn't logged in to the forums. I lost it when I hit the submit button and was sent to the log in page. I tried hitting the back button but met without sucess.

I will have to do this whole thing over now. ^$%@#% Murphy and his #$%$#@ law!!! I can't even express how angry I am.

*sigh*

I guess I will have to get over my self and start my post again:

Quote[/b] ]I think a $1,500 learning moment is a fine way for you to learn. Maybe I will be wrong but if so it is only $1,500. Better for you to 'see'

For my sake I hope that you are wrong and I will not be put in a position where my trust is tested. I do have full confidence in the situation. I realize that there is a slight bit of risk involved. I can only hope and trust that the money not be wasted.

Quote[/b] ]Please don’t think that you can recover a month’s salary in a month.

I have been pading my savings account for many months now, but then again I did just buy a used car and a set of plane tickets. I still have more than the mentioned amount in my savings account. The money I send to her will come out of my savings and will not effect the bill money. Just in case Murphy strikes again and causes me to suddenly need to spend some serious money I will only transfer her a third of the mentioned amount at a time in bi-weekly intervals. One I have sent her all the money It should take me about 6 to 8 weeks to replace the money in my savings account. I've been considering this for the last three months now and have planed my finances. I am confident that I will feel little or no strain when the money has been sent.

Quote[/b] ]There are expenses no one thinks of when they open a new business. One is living expenses. A new business will not support you the first day you open up shop.

My only part in this operation is to provide 25% of the capital needed to open up shop. Beyond that it will be up to them to run the business. They will be responsible for all additional expenses. They must raise, support and nurture the "child." For the most part I will be away at home, working and going back to school, and will not have the extra money to help out with the up-keep of the establishment. I have made this clear.

Quote[/b] ]I am certain if you stay in the relationship you will NEVER get the money back.it can never hurt to give Just don't expect a return. View it more as a gift than an investment.

Now you have found me. This is exactly where I stand. I don't expect anything in return. This isn't about the money. Money is easier for me to obtain and I want so much to help them. This is my gift so that maybe, one day they will be able to improve their standard of living and quality of life. If they accomplish this than they have paid back their "debt" to me.

Quote[/b] ]you will truly know how far this trust and love goes by what happens a few months after the money is given.

I couldn't have said it better my self. I will find out alot about my relationship with her through this future experience.

[ulw7A8Po]

Likewise Doug