The painful fall when investing in real estate according to the “stork’s” promise
I have a friend who has also fought in the real estate market for more than ten years. Sometimes when the brothers met, he would recount the funny stories when he went to survey the market, the tricks of the stork, the billion-dollar profit or loss deals, “running aground”… all of them. .
Talking about his first investment in Bac Ninh, at that time he was still a novice with no knowledge, even less market information. Having 300 million in savings, he asked a broker in the area to buy residential land of the people. At that time, a large number of Hanoians came to buy land in the population. Local people changed their lives and built high-rise buildings by cutting land and selling gardens. Thanks to that, my brother made a profit of 70 million dong in 2011.
After a few missions of surfing the residential land of the people and selling it to investors elsewhere to buy, he also earned a good amount of money. At that time, in the area there was an urban area project, the broker told him to surf the land for a more profitable project. When asked about legal issues, if there is a book or not, the broker commits that the project will be ready to go out, within 2-3 weeks.
“There is no new book with this price, but when it is, it is at a different price, bro. That’s your chance to eat a lot. But I’m sure with you, this time you don’t have to risk it because I’m close to the project owner. There is information for me that I am completing the procedures to release the book. How many times have we worked together, you just told me,” he remembers recounting the broker’s promises.
Trusting the broker, my brother bought a land lot of 350 million VND in the hope that in a short time, the land price would increase. However, after waiting for a long time, there was no number, many times he contacted the broker to ask for information. Brokers promise up and down in the future, but the promise of the wind, the commitment to book out is just to please the customer’s ear.
After the purchase was completed, the book was not available, and the real estate market fell into silence. My friend “stuck” at that project for nearly 7 years. Only in 2018 did he sell to another investor. However, up to now, that project has not had a book.
After the painful fall, he said that he should not believe in the promise of profit, the commitment of the “stork”. The money I bring to invest is all blood and blood money, saving for many years can’t just be by faith from the promise but to invest in a hasty and easy way.
If you have invested in land, you must find out if the project has clear and transparent information, a reputable investor, especially has a decent book. Don’t jump in blindly for profit, until the project has problems or the market goes down, it will be difficult to exit. Don’t be afraid to miss the opportunity because in the real estate market, if there is not one opportunity, there will be another, it is important that you have knowledge, understanding and especially your pocket has money.
Talking about the real estate investment story, Mr. Trinh Nguyen Tuan Anh, Standing Member of the Vietnam Real Estate Brokers Association (VARS) in charge of the Southeast region, Chairman of King Broker Group shared at a recent conference. Real estate investment opportunities in Vietnam are diverse in terms of capital levels and segments. There are real estates that require an investment of up to several tens of billions of dong, but there are segments, such as land plots in the provinces, where only a few hundred million dong can be invested. The problem is that investors have to choose the right real estate for their budget and control risks.
This person said, real estate investment is not always profitable when buying, it’s just a very small number, good value but cheap is very rare. The majority of real estate investment is opportunistic, there are places where it is very high to still buy because the expectation is that the price potential is still good, and there are places where the price is cheap, sometimes you should not buy it because you can buy it in a flood area even though the price is close to the price. with the market but no potential.
Mr. Tuan Anh affirmed, real estate is a rather difficult investment channel that requires knowledge, information and luck.
“The accuracy and transparency of information are very important. Virtual fevers, local price increases all use the basis of information to spread widely and add to create attractiveness, create confidence but uncertain for customers. Those who are inexperienced or new to the real estate market are easily confused. Because we see that when there is too much positive information, investors’ expectations are very high and a lot of novice investors are sucked into such a game, which is very dangerous,” he shared.
Regarding the selection of investment areas, in Mr. Tuan Anh’s personal opinion, there are criteria. Firstly, political stability, approved big project policy means that there are strategic investors in that area, first they invest, secondly expand investment, thirdly, invest in high-profile investment survey. strategy. The second criterion is the development of transport infrastructure. Lastly is the market size as there are many good but narrow markets that only do 6-12 month wave but there are long wave markets.
Experts give advice to investors, it is necessary to catch the time to participate in investment in an important period of the real estate market that is development and growth.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
