Chapter 345: Strong Alliances (2nd Update)
The beginning of 2015 was another leap forward for Lin Zitan's life, in addition to Emma's baby in the womb has been almost 30 weeks, and the due date is around Valentine's Day on February 14, his real estate career has also ushered in a new opportunity.
On New Year's Day, Lin Zitan followed Emma back to the old man's house for dinner, and this time Lin Zitan met Emma's lobby brother Johnson, that is, Eddie's brother, a politician with a calm personality and not smiling.
After dinner, Lin Zitan was called to follow the three cousins to the basement to play snooker, and the lobby brother Johnson changed his unsmiling style, and the pole was very well played, which caused the other two cousins to be dissatisfied for a while.
In the end, he was kicked off the stage by two small ones, and sat on the sofa with Lin Zitan to watch them fight.
After Johnson sat down, another waiter in black uniform wiped his hands with a scalded white towel.
"Listen to Eddie, are you in real estate? developer or agent?"
"Huh? Lin Zitan hurriedly replied.
"How much money can agents make? Are you interested in being a developer? I happen to have a project in my hand, which is two plots of land near 138th Street on the Upper West Side, and the developer must provide 200 units for the poor to make low-rent housing after winning the land.
The rest can be used to build your own profitable commercial buildings. Add is strapped for money right now, so he says he doesn't like to do it, so he asks if he wants to give it a try. ”
Johnson said as easily as if he were saying to give him a piece of candy to eat.
"Low-rent housing in a residential area......? To be honest, I haven't really been a developer, if you trust me, you might as well let me work with Eddie, so that we can make money together. Lin Zi groaned for a moment and said with a smile.
"Add, do you hear me? This kid said he wanted to do it with you, do you dare to take it?" Johnson suddenly said loudly to Add, who was playing.
"I'm locked up with the funds in my hand now, if I had the money, I would definitely take it all, are you sure you don't want to do it alone?" Eddie said in surprise as he looked at Lin Zi.
"I have a lot of experience as an agent, but the developer really needs to learn from you, after all, you have invested in building so many hotels. Lin Zitan said modestly.
"That's fine, but I'm just that bit of experience is worth a little bit, and the cost can be taken at most one or two percent, and this project will cost two or three hundred million to say the least, and you have to prepare at least one hundred million to operate.
Although this low-rent housing is not profitable, ZF will support it with a 25-year tax exemption program, and if the commercial building is built, it will serve that community, and the future income will still be considerable.
Decide for yourself!" Add shrugged his shoulders.
"Isn't low-rent housing built for the poor? If it's not profitable, it's not profitable, and you won't lose much, right? Not to mention that there is still a chance to build a commercial building, and I'm willing to give this project a try.
Funds shouldn't be a problem, I'll figure out how to make money, so is there any rule that this low-rent house can only be rented to anyone after it is completed?" Lin Zitan asked cautiously.
"Of course it's the poor!, for example, those Amido, and those African pigs, of course, if you want, you can limit them to only Chinese applicants, anyway, as long as the procedures are met!" Frank laughed, who had not spoken all the time.
"Frank, watch your words!" Johnson reminded with a tiger face.
Lin Zitan glared at Frank, knowing very well that even if they didn't say anything, they would have a contemptuous attitude towards other races, but this was a good opportunity,
If he can build this project, even if there is no money to be made from low-rent housing, the commercial building next to it is absolutely profitable, not to mention that the project site is on 138th Street, which is about 20 minutes by car from Manhattan.
It won't take more than half an hour to take the subway, and most Chinese people are already very happy if they can find low-rent housing within an hour, so if this project can specifically serve the Chinese community, Lin Zitan is still very willing to do it.
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2015 was originally a year of recovery in housing prices in New York and the United States, whether it was shops, apartments or single-family homes, the real estate market was booming.
Lin Zitan took stock of the funds in his hand, and found a professional team to conduct a special investigation and fund accounting for this big project, and the whole project is indeed like Eddie said, without 300 million, it can't be taken at all.
Many people are reluctant to do it, on the one hand, they feel that the profit margin is too small, on the other hand, they feel that the investment amount is too large, and the return on investment is not very certain, after all, 138th Street is also a black area, and most of them are poor.
Lin Zitan and Eddie set up a joint venture company to deal with the development of the project, Eddie was responsible for the early low price negotiation, property rights investigation and other procedural work, and Lin Zitan was responsible for raising capital and loans, which began to operate at the beginning of the year.
However, whether it is to build a commercial building or a residential building in the United States, the procedure is much more complicated than in China, and the reason why Lin Zitan brought Eddie in is really because he is not experienced enough as a developer.
On the other hand, of course, because of Eddie's local resources and his white identity, not to mention that Johnson can secretly get the maximum benefit from ZF for them, and the whole investment will not lose money if it is checked again.
Later, Lin Zitan learned that this constituency happened to be Johnson's constituency, and if they could do this project themselves, it would also be a good achievement for Johnson, so that everyone could really benefit each other!
In the past, Lin Zitan was in Flushing, Chinatown and Eighth Avenue and wanted to buy more shops, but now there is a sudden opportunity for him to build an entire commercial building, even in the Upper West Side It is a very rare opportunity.
So as soon as Johnson said it, he began to be moved, not to mention that the stock in his hand has not been touched for more than ten years, even if the stock has been appreciating, he has not built a commercial building and put it there!
At this time, Apple had risen to about $134 US dollars, and Lin Zitan was ready to sell 500,000 shares first, and then ask a professional team to make a perfect investment plan, first borrow 100 million from the bank, put the project next, and then make plans.
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Just when Lin Zitan was ready to invest heavily in this huge project, the real estate company also frequently came with good news, from the end of 14 to the beginning of 15, some of the high-end apartments in their hands were bought by many local tyrants from China.
"Chinese home buyers" became the key word reported by the New York Times for a while, and the "front" of Chinese home buyers once extended from high-end apartments in downtown New York to suburban mansions.
Long Island, Bayside, Little Neck, Big Neck, and Queens Rego Park, Forest Hill and other places have become hot spots for home buyers.
As the largest Chinese real estate agency in New York at that time, Lin Zitan's company not only represented high-end residential and commercial buildings in Manhattan, New York, but also represented properties in the five major districts of New York.
Moreover, they have built a Chinese real estate team that can speak English, Fuzhou, Wenzhou and Cantonese, and specialize in serving domestic real estate investors.
On this day, Lin Zitan had just finished massaging the waist of Emma, who was about to give birth, and received a phone call, which looked quite familiar, but Lin Zitan couldn't remember who it was for a while.
So I put Emma on the big bed in the bedroom unhurriedly, and then went to the study to call the phone back, and as soon as I connected it, I heard a very enthusiastic voice from the other party:
"Oh, Mr. Lin, oh, no, now I have to call Boss Lin, hehe, Boss Lin, do you remember me?"
Lin Zitan felt very familiar, but he really couldn't remember it for a while, so he said:
"You are ......"
"Oh, it's me, Wu Junhao, Xiao Wu, my mother and I bought a house from you before, hehe~"