new big modern Hostel / guest house / share house in Saigon

Kalvin1

Active member

Member since 14 December 2014

Renens

Kalvin1

15 December 2014 03:30:01

Kalvin1

15 December 2014 03:30:01

Renens

Hi All,

I m looking for creating a new business in the economic capital in Vietnam.

As I do not have enough money I would like to manage this project with 3-4 other people so we will have enough to buy - renovate a big building to get our dream.

The dream is to get a modern hostel so we can get salaries (that is the target). But all of us will be share mates in that building as well. Rooms for 2, 4 and 6 people.

Thanks for contacting me if you re interested.

Jaitch

15 December 2014 04:20:36

Jaitch

15 December 2014 04:20:36

IF YOU are thinking that Pham Ngu Lao might be a good area, BE CAREFUL.

Over 50% of the area has been declared unfit for human occupation (at least Vietnamese) by the Peoples Committee. They have frozen Land User Certificates - which means they can only be sold back to the city.

As a TENANT of a building you would likely NOT know if a building is under this restriction. So I suggest before you go investing in any building improvements that your lease include terms that the building owner DECLARES there are no urban renewal programs (demolition and construction) in respect of the building.

Most leases have a get out early clause that permits the landlord to toss you out before the end of the lease. Better get such a clause removed.

And don't trust a rental agent to tell you the truth - they only want their commission.