Chapter 425 - The Least Loss-Losing Industry (1st Update)
Early the next morning, Lin Zitan called Joseph and asked them to do it, and after sending the child himself, he went directly to the real estate company.
"Boss, this is our monthly statement for the last month, and this is the actual entry details at the end of the month. As soon as he entered the office, the company's administrative assistant hurriedly brought in the report.
In fact, since the last large-scale layoff, Lin Zitan has basically controlled the real estate company by telephone, at most holding a remote video conference, making monthly reports, quarterly reports or something.
First of all, their company's assets are all purposeful, such as high-end apartments in the city, low-rent apartments in the Upper West Side, and surrounding units and single-family villas and all the shops, each of which is coded.
According to the start date of the lease and the amount of monthly rent on the contract, Lin Zitan asked the people in the finance department to make a special electronic statement.
The monthly rent collection, including automatic transfer and cheque transfer, will be counted before the 15th and submitted to Lin Zitan and the financial director for review and reconciliation.
The rental, sublease, contract signing and other matters of all houses and shops are handled by the special person in charge of the real estate company, and there will never be the phenomenon of chartered public tenants who hold hundreds of keys to collect rent.
Lin Zitan only needs to follow these reports to see which houses are vacant, how long they have been empty, which houses are about to expire, and how much rent has been added, the land tax, water or sewage fees that need to be paid for each house, and even how many people live in each house.
Ordinary residential leases in the United States generally start with one year, while shops must sign contracts for at least two years, and some industry leases can be signed for 5 years, 10 years, or even 15 years, such as laundries, wineries, restaurants or some industries with a long investment cycle.
Lin Zitan was only the department responsible for selling houses, and most of the real estate agents who were affiliated with their company after leaving the company also set up their own doors through their own connections and real estate resources.
At least one-fifth of the many large and small Chinese real estate companies and real estate agents in the market are spun off from Lin Zitan's company.
At that time, because of the increasingly fierce competition in real estate, some brokers with strong ability and abundant resources could earn tens of thousands of dollars a month, and there were many new real estate salespeople who might not be able to sell a house for half a year, and it was difficult to make a living.
In Lin Zitan's real estate company, of course, such a situation is also widespread, but because the company has a basic salary, many people can follow the big pot of rice, and those with strong ability feel that they have suffered a loss.
Lin Zitan decided to lay off employees at that time, firstly, in order to satisfy those agents who were eager to try to go out independently, and secondly, to reduce the burden on the company, which was a real blow to the brokers who were accustomed to eating big pot rice.
Anyway, in the past two years of economic recession, Lin Zitan has saved hundreds of thousands or even millions of expenses in human resources, although the money is not much, but it is enough to maintain the normal operation and basic expenses of other departments.
Now Lin Zitan wants to enter the real estate market again, and there is no need to recruit at all, and the existing talents in his company can be drawn out to form a small team.
Starting from a series of procedures such as real estate resource survey, housing valuation, negotiation offer, loan purchase, etc., you can start the next wave of real estate purchase activities at any time.
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At present, Lin Zitan has more than 300 units, including low-rent housing, more than 30 all-brick villas, and as many as 100 shops including commercial buildings, and the most conservative estimate of total assets is 300 million US dollars.
A real estate company of this size may already be a very rare giant crocodile among Chinese businessmen, but compared with the real estate oligarchs like Eric's father, it is simply a drop in the middle.
In the past, Lin Zitan only thought about being low-key and low-key, but now that he thinks about it, even if he wants to be high-profile, such a small asset is just a small nouveau riche in a place like New York.
Due to the impact of the epidemic, several large chain retail malls such as Nieman Marcus,. Penney and others have gone bankrupt and closed down one after another, and it can be seen that the offline retail industry as a whole in the United States has indeed been hit very hard.
Even Mr. Lin, a real estate developer who makes a living by renting out his shops to retailers, has been hit hard, with his overall revenue last year being one-third less than normal.
In particular, I have always thought that I would make a lot of money in commercial buildings, although the hotel on the top floor has been opened, but there are few customers, less than half of the shops in the shopping mall are rented out, and the original merchants either run away directly or are in arrears.
In order to stop the loss, Lin Zitan opened one of his instant noodle shops in the mall, and planned to decorate one of the floors into a super supermarket and a super large indoor children's playground.
Shops on other floors are rent-free for two years to attract investors who are on the fence.
Lin Zitan's purpose is just to make the entire shopping mall popular first, and with popular hotels and other stores, the business will be driven and form a mature business district.
Lin Zitan looked at the report and calculated for a long time, although the epidemic caused him to lose a lot of money in rent, but from the overall economic level, his form of real estate investment is the least loss in all industries.
After all, most of the investors who have donated large sums of money to ZF to support them also make a living by renting and selling real estate, especially since President Sichuan himself is a real estate giant, so these people will never let ZF introduce any rent-free policies.
It was in vain for those tenants and tenants to shout, which was the main reason why so many merchants were willing to risk their lives to resume work when the epidemic was still severe.
Because no one pays for their rent, ZF's relief money can't even deduct half of the rent!
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"Boss, are you sure it's a good time to buy the bottom now? Last year, the real estate industry suffered a heavy blow, even if it improved slightly this year, but it is difficult to escape the state of loss, just look at our rent recovery report, even if you buy it, it is difficult to rent and sell it in a short time!"
Sun Yang, the new financial director of the real estate company, couldn't help but remind after listening to Lin Zitan's thoughts.
"Our team first went down to find a good property, and when the seller was helpless, we negotiated the house at the lowest price, and then took the loan and finally closed the deal, which took three to five months.
At that time, if the real estate industry is still sluggish, hold the property in your hands, raise it first, even if it is rented at a low price, as long as you don't lose money, and wait for the next real estate boom to come before you sell. ”
Lin Zitan put down the report, looked at this senior accountant who was about the same age as Hu Enming, and looked just as honest and serious, and said with a faint smile.
"If you think about it that way, it's an opportunity, but the payback period of the investment is longer. Sun Yang nodded.
"Money always has to be spent to have a return, it's just the length of time, you don't have to worry about the capital, the current company's revenue can be invested first, not enough I will make up the position at any time."
But remember, the loan amount should not exceed 40% when I buy in the early stage, and when I have enough funds in my hands, we will try to minimize the loan, I am an investor who does not like to owe money, which will make me feel more at ease. ”
Lin Zitan and this Sun Yang have just started to cooperate, and he hopes that this person can quickly understand his style of doing things.
"Okay boss, I know, I will definitely try my best to cooperate with your work. ”
Sun Yang looked at Lin Zitan's young age, but his body exuded an aura that was even calmer than his own, and the anxiety before entering the door just now was finally relieved a lot.