New guy

[Kubiac]

Hey people.

I am new to the forum and hoping that I'm in the right place.
After a number of trips my friend and I have decided to commence semi-retirement to Lombok.
While considering using a consultant in Perth, I would really like to hear from anyone that has walked the road we are about to begin.
We are heading back over in a few months to look at purchasing four or five villas in Kuta or Sengiggi.
Time to start searching the threads.

Avagoodone

Kubiac

 

[Bad_azz]

Hey people.

I am new to the forum and hoping that I'm in the right place.
After a number of trips my friend and I have decided to commence semi-retirement to Lombok.
While considering using a consultant in Perth, I would really like to hear from anyone that has walked the road we are about to begin.
We are heading back over in a few months to look at purchasing four or five villas in Kuta or Sengiggi.
Time to start searching the threads.

Avagoodone

Kubiac

There are several things you need to consider ... to get you started:
Are you or your friend Indonesian ?
When you say buy several villas - note that you cannot buy the land they are actually on if you do not have citizenship of Indonesia. RI is very protective about who owns its land.
Are you and your friend platonic or in a relationship- that could well factor into how you are perceived and treated by your neighbours.
What sort of visas would you have - assuming you are not Indonesian?

It is a whole lot more complicated than- Oh we like it there let's move in and set up business to fund our retirement.
Please ensure you do your homework- there is a lot of homework.

 

[Kubiac]

Thanks for the reply. My friend and I are both single Fathers from Australia with grown up kids.
I have researched over the last couple of years and understand leasehold arrangements. We would like a small hotel or group of Villas to run as a business.

 

[Helpful Herbert]

There are quite a few foreigners running businesses in Lombok but then there have also been horror stories. As long as you understand you would never actually own the properties, despite what anyone there might tell you, it should be fine.

 

[Balifrog]

Thanks for the reply. My friend and I are both single Fathers from Australia with grown up kids.
I have researched over the last couple of years and understand leasehold arrangements. We would like a small hotel or group of Villas to run as a business.

Then I suggest coming on a 2 month research trip, look around, eyes and ears wide open....

 

[marcus]

... We would like a small hotel or group of Villas to run as a business.

In case you did not yet , better contact the Indonesian Government's BKPM (see link below) for knowing the legal details of your's business idea .


---------------------------------------

From https://bkpm.go.id/en/home :
......

How we can help​

OSS is one-stop submission to invest in Indonesia​

OSS will guide you to obtain the risk-based business license you need in Indonesia. Visit the OSS website to read more about this service.

 

[jstar]

Can a foreigner legally build and operate a villa rental business in Bali?

Hey guys, I’m trying to understand how foreigners are able to set up and manage villa rental businesses in Bali. There’s someone I I been following on Youtube for over a year, a Western guy in his early 40s who moved to Bali with his wife and kids around 2016. He started by building a villa for...

www.expatindo.org

Not sure what the thinking is behind selecting Lombok? Beautiful island, that’s not the issue. But quite a lot of backpackers on this island of a thousand mosques (in reality there are over 9.000).

A Flores for instance, has more financial potential. Quite some Italian investors.

 

[Bad_azz]

@jstar I actually really like Lombok. I don't have any issue with the sound of mosques and I much prefer it to Bali (the parts I have seen to date).
Curious about Flores though, I have heard it is lovely but not got there yet, how does it differ?

 

[Jaime C]

So many pitfalls trying to acquire properties. Might be easy enough to “buy” one, but hard to get your money out. Too many paid experts there will tell you anything is possible, and then disappear when big problems pop up.

 

[Kubiac]

Cheers for the feedback people.
I've been traveling for many years, and love SE Asia. The options seem to be that I pay a consultant in Perth between 5 and 15KAUD to facilitate the project. I'm thinking the other option would be to rent in Lombok for a year and try to source reliable people locally.
We are heading to the South coast in October for a couple of weeks. It would be great to chat with like minds if anyone is available.

 

[Balifrog]

Cheers for the feedback people.
I've been traveling for many years, and love SE Asia. The options seem to be that I pay a consultant in Perth between 5 and 15KAUD to facilitate the project. I'm thinking the other option would be to rent in Lombok for a year and try to source reliable people locally.
We are heading to the South coast in October for a couple of weeks. It would be great to chat with like minds if anyone is available.

Option 2 without hesitation.

 

[harryopal1]

As if there are not enough complications there is the added peril going in to partnership with a friend. Good luck. It might work out wonderfully well but further down the track comes the how do we share the profits or losses? Often one partner may feel, I am doing most of the work how come I am just getting 50%. Or my friends has made some really dumb and costly decisions. How do we get out of this mess. As long as you are both prepared to lose all the capital invested.

Part of the ultimate cost may be losing your friend. Or perhaps you might both become millionaires. I hope the latter.

 

[Balifrog]

Part of the ultimate cost may be losing your friend. Or perhaps you might both become millionaires. I hope the latter.

About zero chances for the latter, except if your accounting is in IDR...

 

[Kubiac]

This is not an exercise in getting rich. In regards to the business, we would be happy with income for bills food and Beer.
I've known my mate for over 20 years so if we get separate digs and everything is 50/50 then it should move along nicely.