At the moment when the host knocked down the bidding hammer of the third plot, Richard stood up from his seat angrily, and after explaining a few words to the bewildered assistant, he walked outside the venue without looking back.

Lin Zitan and Eddie glanced at each other, and finally clasped a pair of sweaty hands that had been pinched for a long time together, and shouted:

“Yes!”

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The auction finally came to an end, Lin Zitan and Eddie won the smallest and largest two pieces of land together, and they were worried that they would not be able to eat and need to find a partner, but finally found that the current situation is excellent.

Richard was probably only coming for the two largest plots of land, but the only surprise was that Lin Zitan and they were even more courageous than him.

$55 million is a small amount for Harrison's entire family business, but Richard made his bid based on his basic principles as a real estate developer and ROI.

Not only will the irrational investment not allow him to save face in front of his father, but the most important thing is that he must also have an account for such a large amount of capital expenditure with his father, especially the current group family, that is, his half-brother James.

Experienced investors know at a glance that this price is still a little higher than the normal price, but it is also acceptable relative to the return on the entire investment.

Lin Zitan and Eddie's idea is to take it down first, especially after they get the first piece of land, this last piece of land is particularly important, only when this piece is also taken down, they can have the greatest say and initiative in the entire land development project.

"Good job today!"

When he came out of the auction hall, Eddie still couldn't hide his excitement and said to Lin Zitan and the other two assistants.

"It's a pity that it's just a piece of land!" Xiao An said with some confusion.

"It's a pity, I think it's good like this~ What do you think Eddie?" Lin Zitan turned his head to look at Eddie, who was walking with the wind.

"Daniel is right, that's good, it's a lot better than when we brought Richardra in as a partner. ”

Add nodded meaningfully and smiled.

"Uh...... Did I miss something?" Xiao An looked at Lin Zitan suspiciously.

"Originally, we didn't bring him in because of a lack of funds, but mainly because we lacked the experience of developing such a large area of land and huge construction resources.

And a strong background to resist ZF's unexpected difficulties, and now we have brought their company in without much effort, don't you think that's better?"

Lin Zitan patiently explained to Xiao An.

"Oh, I see! Since ZF is asking for overall planning and development, then they have to cooperate with us anyway, so that we have more initiative, right?

Even if he doesn't want to cooperate, he has to cooperate, unless they are willing to sell the land to us at a low price, or transfer it to another developer at a high price!"

Xiao An can understand it at a point, and even think more far-reaching.

"Oh, yes, this kid wouldn't think the land was too small, just give up the development right and then sell the land to other real estate developers, right?" Eddie suddenly alerted.

"Although we have taken this place, the process from finding a lawyer to doing property rights investigation, revaluation, and applying for a loan will take a long time, and even if they want to change something, it won't be so fast, right?" Lin Zi pondered for a while.

"That's true, but we've got what we want, they really want to change hands again, we can't do anything about it, let's go, let's do our own things first!" Eddie listened to Lin Zitan's words, and nodded as well.

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Doing real estate development in New York is a simple thing to say, and complex to say very complicated.

For a period of time after the auction, Eddie and Lin Zitan were busy with the two plots of land all day, often meeting and discussing together.

After the buyer and seller reach an agreement on the land price, the developer has to start looking for a lawyer to conduct a property right investigation first, and if the property right is clear, it will start to find a bank to run a loan.

These loans are all mortgages, and they are not taken in full.

After the developer pledges all the land to the bank, the bank will re-evaluate the land and then issue a loan of 60~80% of the land valuation for themselves, instead of 60~80% of the land price that Lin Zitan and they received.

There is still some difference between these two prices, and the bank's valuation will generally be slightly lower than the price of the land obtained by the developer, so they must have a lot more upfront funds than expected.

In the United States, although it is common to hear cash to buy a house and cash to buy land, in fact, this cash does not mean that you have to carry a few sacks of money to trade, but to deposit your principal in the bank, and go directly to the bank to print out the cashier's check when trading.

However, sometimes some banks have requirements for the term of deposits, and the term of these deposits is at least not less than 3 months.

Fortunately, Lin Zitan and Eddie's accounts are beautiful enough, and they have been preparing for this cooperation for a long time, so they have already started to prepare from the time they got the first-hand information.

Then after a series of procedures and the habitual delays of the ZF department. By the time it comes to the real deal, they've got their money ready long ago!

Although the process of a commercial loan is a bit more complicated than that of a private loan, the good thing is that both his real estate company and Eddie's hotel chain have a very good credit background and capital flow.

Because there is a "dead knot" between the developer, the landlord and the bank: the landlord will not give the land to the developer until he gets the money, the developer will not hand over the land to the bank, and the bank will not issue loans.

Therefore, if the bank does not confirm that Lin Zitan and they have sufficient purchase reserves, they will not directly issue the loan, and finally after the three parties have made full preparations, they must agree on a transfer time, and the three parties will carry out the transfer procedure together.

At the time of transfer, the bank is entrusted by the developer to hand over the loan it applied for to the landlord, and the developer will also hand over the self-raised part of the land price to the landlord.

The landlord hands over the title deed signed by the property insurance company to the developer, the developer signs a "loan agreement" with the bank, and the developer signs a "land sale agreement" with the landlord.

The three parties sign the above documents under the witness of lawyers and notaries, and all documents must be signed by the lawyer before they can take effect.

Just like Lin Zitan said at the beginning, it took almost half a year from the time they were photographed to the official completion of the two plots of land.

At the same time, Eddie began to make various preliminary preparations for the upcoming land development project, from making master plans to a series of development plans, at this time, it was inevitable to contact the winning bidder of the second plot, Richard.

After all, when ZF looks at their planning map, it is impossible to only look at the front and back two plots, but needs a planning map of the entire development zone. Therefore, as soon as the transfer was completed, Lin Zitan inquired about the progress on Richard's side.

Unlike Lin Zitan and Eddie, Richard's side follows a consistent investment philosophy and refuses leverage, and their transfer speed is faster than theirs, because they themselves paid 80% of the entire land price.

As the so-called leave a line with each other and see each other in the future, the two people who originally didn't plan to have anything to do with Richard again, but in the end, they still want to cooperate with this person on this development project, Lin Zitan and Eddie's hearts are more or less subtle.

On this day, the three of them finally decided to sit down again and discuss the overall planning under the arrangement of the assistant.