Broken because of thin capital, revealing how “money makes money” if you have a house
Female Hoai Linh (26 years old, an alumnus of Foreign Trade, Hanoi) was once one of the first members of the Welax comedy group alongside familiar names like Tuyet Bit, Quoc Anh. It was the development time of Northern media, the Northern Content Creators flashed each other. Just working hard to close videos, roll herself into entertainment gameshows, Hoai Linh knows for sure that she absolutely has a chance to be famous. However, she gave up her growing career to… have a baby.
When Linh had just given birth, her husband chose to study abroad. She had to take care of her child alone, barely getting a full night’s sleep for a year. But her husband has love in a new horizon. She decided to divorce, believing that it would be better for the child who did not realize that she needed to have both parents.
At this time, all of Linh’s friends at school are beautiful, single, have only been working for 1 year and have been promoted to Senior position, with very good income. And Hoai Linh from “hot girl almost … delicious” slipped the price of a mother who weighs seventy kilograms, has messy hair, is unemployed, and stays at home to take care of her children. Other people don’t care how smart, multi-talented, and multi-talented Linh is, they just look at Linh with half their eyes.
Wet feet, dry feet, rent a house, “cool hands” turn 36 million dong into a 6 billion property
After the baby no longer needed to be with her mother, Hoai Linh started working again. Since then, every decision of Linh has put her children first, including career choices. Linh’s request is just a job with a good source of income and flexible hours so that she can spend more time with her children. Spreading the application in many places, searching online, asking friends and acquaintances, she finally decided to risk a capital of 36 million into the real estate business. Specifically, luxury apartments for rent.
It was 2019, the wave of Airbnb landed in Vietnam and connecting platforms to find rooms and book rooms such as Luxstay, Wetay, Airbnb, Booking.com,… raced to make the apartment business explode. explode. Family members provide accommodation services in the form of sharing or renting rooms or renting private houses. Hoai Linh also joined the industry and was fortunate to meet mentors with a heart to lead.
“If I know how to use financial leverage wisely, all difficulties in capital will be much simpler.” – A brother, a teacher of Hoai Linh taught her so.
So with only a capital of 36 million, she paid 3 months’ rent for an apartment. In order to save costs, she repaired the house herself under the advice of friends as a designer, where she needed to hire workers. After completing the house, she accepted long-term tenants for about 1 year. Customers pay 1 year rent, Hoai Linh takes this money and borrows more from a bank to reinvest in other apartments. This is a classic way to rotate capital in business and is also the secret of capital rotation of apartment business people like Linh.
Being compatible with the industry, she can also speak English, Chinese, Korean and Thai, so the hostess Hoai Linh is loved by many foreign guests. Existing customers refer next customers, so Linh’s business grows exponentially. After only 2 and a half years of operation, the capital of 36 million has grown to 6 billion. Up to now, Hoai Linh is managing nearly 40 luxury apartments for rent in Hanoi. 1-year revenue is about 5 billion dong, with a profit of up to 22%. In addition, Linh also has an external income from brokerage work. The profit she earns will not be spent but will be reinvested in other apartments.
Under the age of 30 is not necessary to buy a house
Hoai Linh believes that to be successful in the apartment business, you don’t need any special skills. For example, Linh is not suitable for home care, interior decoration, nor is it as careful, meticulous and thoughtful as many people still imagine about an apartment owner. However, Linh believes that you will need an important quality in business in general, which is credibility. Others will do business with you, invest in you, or become your customer if they believe you don’t say a word.
Many people say: “Want to start a business but have no capital”. Hoai Linh thinks that actually it doesn’t need too much capital to be able to start. Business people always borrow money because the power of financial leverage is extremely magical. If you invest 1 dong, when the profit x10 you only get 10 dong. However, if you borrow another 9 dong to get 10 dong, you can get 100 dong, 100 times more than you actually have to spend.
“But if your family has conditions, it will be more beneficial to raise capital from the family. Because interest rates are low (even without interest), the payment schedule can be much slower and more flexible. Other people who have family capital to run their businesses are going up very quickly, not as slow as I am.”Linh honestly shared.
When asked if young people should buy a house early to settle down, she said that as long as she lives in a house she feels comfortable, even if she rents a house, she can still live and work. In her view: “Under 30 years old and unmarried, it is not necessary to buy a house. If you have enough money, you can buy a house, then mortgage the house to invest in other types of assets. This is a smart way to leverage assets to generate more assets.”
Photo: NVCC
Law and readers
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
