Thought it was a little profitable but be careful to lose both money and friends because of 4 fatal mistakes
Yesterday, I had coffee with a group of friends, including a lawyer, including a group business director. All agree that from 2020, the status of joint purchase of real estate takes place a lot.
The lawyer said: It’s simple, now that the land is too small to buy, everyone has to buy it together.
The sales manager commented: In the last few years, the problem of joint buying has happened a lot, and in a few years, everyone should look forward to the consequences of the problem of buying together.
I think there is no need to wait a few years, there are already too many risks when buying together. Let me tell you a few stories:
First story
David and Adam are two friends, going to the same finance class together. Seeing the same thinking, the same money, the two invited each other to buy together. Those two people bought the land in Dong Nai from 2019 for 3 billion VND, now the land has increased to 6 billion but David refuses to sell. The reason is very simple, David expects to sell 8 billion, and has good finance, so he doesn’t sell. And Adam needed money but couldn’t do anything.
Then the land increased to 8 billion, Adam asked to sell, David asked for this, David shared with his best friend. She wanted to find another piece of land to buy and then sell the land in Dong Nai. So buying together has no point out.
=> No sales plan, profit taking
Profit taking will be based on 2 parameters:
1. How long after buying is closing 1-2-3-5 years or;
2. Profit 30-50% is closing.
Second story
There was a group of college friends playing together. After that, everyone has a good career when they go to work, so they invite each other to invest together. But because everyone is busy, let the class president sell the land for convenience. But then the class rep’s family had a problem. The group’s property was brought to trial by the Court. At that time, the wife’s emotional state was not good, so what was split in half was two, unable to say love or reason anymore. The group just had to team the judge to hear the divorce case, and then wait for the time to sell the property.
=> There is no contract to refuse spouse property when buying together
Third story
3 neighbor brothers invest together. Because of drinking together for many years, everyone trusts each other. Then one day drinking, the eldest brother said that there was a good opportunity, invited some brothers of the same head. So the whole association contributed money to buy land.
The oldest brother: contribute 50%
Second oldest person: contribute 40%
The youngest brother: contribute 10%
Because the three brothers trusted each other, they only made an oral agreement.
After a while, the youngest brother accidentally died in a traffic accident. On the red book, 3 people have the same name, so the youngest wife’s wife asks for 33% to be divided equally among 3 people. At this point, the reason is that the love is not finished and drag each other to court.
=> There is no business estimate plan, capital contribution ratio agreed in writing
Fourth story
There are 3 friends who have been close friends for 20 years: One is a restaurant worker, one is a teacher, the other is a doctor.
In the group, the friend who works in a wealthy restaurant should best invite 2 close friends to invest together. The teacher and the doctor did not hesitate to agree because brothers and sisters have played together for half of their lives, there is nothing that does not trust each other. So all 3 agreed for the restaurant owner to buy the property in the name of the property.
Everything was going very smoothly until one day, the restaurant owner’s business went down, debt pressure piled up, employee salaries, bank interest, gangster interest.
So the owner of the restaurant took a risk, took that red book to take the gangsters to turn the capital, But because of the setbacks and difficulties, the restaurant owner had to leave the country immediately, not daring to return.
=> Because they trust people too much, there is no cross-supervision management mechanism
The strength of joint real estate investment is that you can participate even if the capital is not too much. At the same time, money can be distributed in many places to optimize opportunities. At the same time, there are also many risks when investing in general.
At work, I always lose my heart first, I am clear from the beginning so that everyone will be fair, transparent, and maintain a long-term relationship.
Whether you are an organizer for others to buy together, or participate in a small capital contribution, you should understand and claim your rights. You need to have contracts to protect investors’ interests.
The required capital contribution investor benefits must have:
– Deposit slip with the seller
– Publicize the number of capital contributors to buy together and detail the % of each contributor’s capital
– Business capital contribution contract
Appendix 1: Disclaimer of spousal property
Appendix 2: Inheritance Wills
Appendix 3: Profit-taking business plan
– It is best to have a joint purchase of property with 2 co-owners to cross-monitor each other
– In the group of investors together: elect the supervisory board.
When you are clear, transparent, thorough, your wallet is always protected and increased. Just believing absolutely in another person without having anything protected by law means that you don’t know how to equip your wallet with knowledge.
Following Economic Life
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
