A verified Chiang Mai freehold acquisition in Galae Thong Tower yielding 8.15% net. Open-plan living, dining and kitchen with a balcony overlooking the city.
Verified Case · Chiang Mai · 2026

How one Chiang Mai unit cleared all five filters.

One apartment. Every receipt. 2,150,000 THB cash, 8.15% net, 100% freehold. The exact line items behind the only yield number on this site I will defend in person.

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True Net Yield
8.15%
After every fee
Capital Deployed
2,203,000
THB, all-in
Title Type
100%
Freehold · Foreign Quota

The Receipt

Every line. Every deduction.

Gross is a story. Net is the receipt. Most foreigner-facing yield numbers stop at 228,000 and call it 10.6% gross. They don’t show the 48,500 THB that gets eaten on the way to net.

Asset: Galae Thong Tower, Pa Daet

Unit Purchase Price: 2,150,000 THB
Legal Fees: + 53,000 THB
Transfer Fees:
+ 0 THB (Negotiated onto seller)
Total Capital Deployed: 2,203,000 THB
Gross Rent (19k x 12 mos): 228,000 THB/yr
Operational Deductions
Minus: 1-Month Agent Fee - 19,000 THB
Minus: Annual CAM Fee - 12,000 THB
Minus: Tax & Maint. Buffer - 17,500 THB
True Net Income: 179,500 THB/yr
True Net Yield: 8.15%
Run this math on your own listing — $20

Or see how the framework caught this ↓

The Negotiation

Three moves. ~43,000 THB saved.

By default the foreign buyer pays the Land Department transfer fee, the lawyer, and the legal stack on top of asking. Default is for tourists.

  1. 01

    Anchored on cash & speed

    The seller had two failed tours that month and was heading into the low season. I had cash. No bank, no broker chain, no contingency. Inside seven days at my number, or I walk.

  2. 02

    Transfer fee onto seller

    Not split. Not “let’s see at the office.” Onto the seller. They picked it up. 0 THB instead of ~43,000 THB. That rolls straight into yield.

  3. 03

    Paid the lawyer, not the broker

    53,000 THB to a property lawyer to run the title chain, audit the 49% Foreign Quota, verify the Chanote, and sit at the Land Department for transfer. Mandatory line, not luxury — the cheapest insurance you will ever buy on a freehold title.

How the framework caught this →

The Framework

Four traps the protocol caught before any baht moved.

Out of 1,000+ Chiang Mai listings, almost every one failed at one of these four. Galae Thong Tower cleared all of them.

Trap · Filter 01

Ghost Listings

Asking rent is a story. Achieved rent is a number. The protocol pulled signed rent agreements from inside the same compound — 19,000 THB/month was the floor on a 12-month tenancy, not the ceiling. Anything above that is luck. I do not underwrite luck.

→ Run this filter on your own listing — $20
Trap · Filter 02

Hidden CAM Fees

The fee stack the listing never shows. CAM at 12,000/yr, agent placement at one month’s rent (19,000), tax buffer at 17,500. 48,500 THB gone before I see a baht. If you don’t write those down, your “yield” is fiction.

→ Run this filter on your own listing — $20
Trap · Filter 03

Leasehold Trap

A 30-year lease in costume is not a freehold. The protocol audits the 49% Foreign Quota for the building and verifies the Chanote in your name. Galae Thong Tower cleared both. 100% freehold, foreign-eligible, registered title.

→ Run this filter on your own listing — $20
Trap · Filter 04

Off-Plan & Exit Risk

I will not buy a unit I cannot sell. The protocol pulled 12 months of recorded transactions inside the same compound — units at this size cleared inside 90 days, within 5% of listing. Working resale market, not a graveyard.

→ Run this filter on your own listing — $20
★★★★★ 5.0 / 5 · Verified Gumroad Reviews

What buyers are saying

★★★★★

“Wasn’t expecting much for the price, but the yield breakdown is surprisingly dense. Worth it just for the data extraction framework alone. Straight to the point, no BS.”

Anonymous · Verified Buyer
★★★★★

“Exactly what I was looking to get started in buying a condo. I feel confident now that I’m not starting from scratch. Stan told me I could reach out to him if I ever got stuck — quite reassuring.”

Paco S. · Verified Buyer
★★★★★

“I used to spend a lot of time driving around Chiang Mai, scrolling real estate websites and visiting agents. This document convinced me to go further with Brinkman Data Analytics. It will save me a lot of time.”

Jan B. · Verified Buyer

See all reviews on Gumroad →

Want to replicate this?

Stop buying like a tourist.

Every receipt above came out of one 5-step protocol. The PDF gives you the framework, the fee table, the legal checklist, and this Chiang Mai unit line-by-line. $20. 7-day refund. No upsells.

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Or see what a paid report looks like →

// Where this came from

This wasn’t a lucky find. It was the standout on a full Chiang Mai scan — the top two sold before I could offer, so I took the third. See the redacted report that surfaced it →

// Want the rest of the story?

⚠ Disclaimer

Brinkman Data Analytics is an independent research service. Not financial, investment, tax, or legal advice. All yield figures are estimates based on historical research data and are not guaranteed. International real estate carries risk of partial or total loss of capital.

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