Long Dan said: "Mr. Pan, isn't this a violation of urban planning?" Pan Dafu said: "What's wrong with this, we paid the money, the government got the profit, and the GDP increased, which is called a win-win situation." Long Dan said: "This is really engaging in land, not GDP", Pan Dafu smiled and said: "In today's China, engaging in land is GDP, what's strange about this, when you get involved in this industry, you will understand." Long Dan continued to ask, "What if you encounter someone who is unwilling to relocate?" Or a nail household or something", Pan Dafu said: "We don't have to worry about this at all, after we get the land, we will hand over the demolition and relocation to the government, and if it is not good, we will hand it over to the demolition company, so we don't have to worry about this." Long Dan said in his heart: No wonder there are so many forced demolition incidents, there is really a way here.

So, Long Dan asked, "The officials of the government are so obedient and serve you?" Pan Dafu said: "This is simpler, give them a few sets of pre-sold houses, and the matter will be solved, they are ostensibly listed for GDP, but there is no interest behind who is willing to serve you, this is also an open secret, brother, this hand, you have to learn a little, otherwise you can't eat it." Brother thinks about it, it's the same thing, although he won't do it in the future, but the current shape is indeed like this.

Long Dan said: "Mr. Pan is worthy of being a leader in the real estate industry, he knows more, and your real estate company will go to a higher level in the future", Pan Dafu did not think that Long Dan was flattering, and said proudly: "That is natural, as long as the policy remains unchanged, the profits of our real estate industry will not be reduced, and our interests will not be damaged." Take the ten villas you sold as an example, when I took the land, it was 4 million per mu, plus 2 million in benefits, 1 million in demolition and other expenses, and 1 million in artificial materials to build a house, adding up to a total of 8 million, but the price of selling it was indeed more than 14 million, how big is the profit? More than 6 million, that is to say, the ten villas you sold made me 60 million, which is still not very profitable, we are mainly developing apartments, if we specialize in villas, the profit is higher, and if it is not doubled, they will not sell."

Long Dan pretended to be envious and said: "No wonder the richer people are, the more they do real estate, this is really scary with big profits", Pan Dafu laughed when he heard it. At this time, Pan Dafu also drank a lot of wine, and naturally there was no door on his mouth when he spoke. said to Long Dan: "Brother, you are still an honest man, how can you use your own money to do real estate now, isn't that a fool." Long Dan said: "Whose money does it use without your own money?" Is it with the money of the investment company? Pan Dafu smiled and said: "Brother, you really have it, use the bank's money, our Huaxia bank has so many savings deposits, if people like us don't take out loans, then what will the bank eat?" ”。

Long Dan asked, "The bank's money is so easy to lend?" Pan Dafu said: "Let me tell you, as long as you use a small amount of money to get the land, you can find someone to appraise it, make the valuation several times higher, and then mortgage it to the bank, won't the money come?" Then go to get the land, and then take out a mortgage, so that if it rolls down a few times, the snowball will roll big, and you won't have money? Let me tell you the truth, there are few people who drive BMW Mercedes-Benz on the street now who don't take out loans, and those who drive 1 million luxury cars have at least tens of millions of loans.

Although Long Dan has been in business for many years, there are not many times when he actually takes out loans. In addition to the bankruptcy of the guide in order to borrow tens of millions of dollars, Long Dan in the future will not take out loans. Even later, the bank begged for no way to get some from the bank, and Long Dan really didn't understand these ways of loans. No wonder some people say that if Huaxia's real estate crosses Taiwan, the banks will also go bankrupt, which is really true. There are tens of thousands of real estate companies in China, and the funds they lend are absolutely a huge amount, perhaps accounting for fifty or sixty percent of bank deposits; if the real estate bubble bursts, it is impossible for the banks not to run on them. At that time, even if the country starts the money printing press, it will be too late, not to mention, the country will not dare to do so, in that case, it will only cause a greater financial crisis, or the outbreak of inflation.

Generally speaking, the profit margin of real estate is around 25%. This statement is not excessive, if you only calculate from the "profit margin", the "profit rate" of real estate is generally around this probability. The question is, you invested 100 million and made a net profit of 200 million, how to calculate this account? Profit margin and return on investment are two different things, and we must first figure out this issue.

For example, if the total sales of a project is 1 billion yuan and the net profit is 250 million yuan, your profit margin is of course 25%. The question is, you invested 100 million and made a net profit of 200 million, how to calculate this account? Profit margin and return on investment are two different things, and we must first figure out this issue. Let's calculate the investment process of this project: assuming that the land transfer fee is 200 million yuan, which is paid in installments in accordance with the national policy, and the first installment is 30%, in fact, 60 million yuan is invested to obtain the land development qualification; Assuming that the total construction investment accounts for 30% of the total sales of the project, the total cost of construction and installation is 300 million yuan. However, according to the relevant regulations, the pre-sale housing license can be obtained after the main body is capped, and under normal circumstances, the construction and installation cost is only about 40% invested in the main body capping stage. In other words, when the construction and installation cost is invested to about 120 million yuan, the project has already begun to be sold. In addition, the fees for various procedures, the second and third land transfer fees paid in installments, and so on.

As a result, you only used an investment of about 250 million yuan to get back 1 billion yuan of total sales and 250 million yuan of net profit, is the return on investment of this project 100%? It is an exaggeration to say that the profit margin of real estate is 200% or 300%, and the total amount of taxes and fees in the development process accounts for more than 50% of sales, and the maximum can reach about 70%. 25% of the land cost and 25% of the various taxes, it is already 50%. There are also administrative fees under various names, and there are more than 30 departments involved. Only the fire protection drawing review fee is as high as 2 yuan per square meter. Don't underestimate these two dollars, 100,000 square meters is 200,000. The fire management department doesn't do anything, and as soon as the seal is covered, 200,000 yuan will be in hand. It doesn't include the gray part, what if I don't cover this chapter for you? You know what it means, go back and prepare for private! The profit margin of 200% is absolutely not credible. But the return on funds is more than 100%, which is completely credible.

Take a project as an example, the total cost (including taxes and other all costs) is 310 million yuan, the sales volume is 420 million yuan, the net profit is 110 million yuan, and the profit margin is 26%. However, when the company invested in this project, the book reserve fund was only 60 million yuan. In other words, if you invest 60 million yuan and make a net profit of 110 million yuan, how high is the return on investment? The crux of the problem lies in two links: the land supply link, whether the land transfer fee is 100% paid. The pre-sale housing system, whether the developer will sell the existing house after it is completed. If the leaks in these two links are plugged, speculation is likely to be reduced.

The problem of land hoarding, developers hoarding land is not common, the media has hyped the "Crescent Garden" in the country hoarding 450,000 acres, this is the media reporters do not understand the nature of real estate land, the land held by the "Crescent Park" is tourism land, is used to develop tourism projects, not for real estate development of commercial development land. No matter how big the real estate developer is, he can't afford to hoard land. Housing prices have been so good in recent years, and the price of a project may double in this stage from development to sales, who is willing to stock up on the land? Can you afford it? However, it is true that there are enterprises hoarding land, and the number of them is not small, and the corruption in the intermediate links is alarming.

China's current land bidding, auction and listing system has many loopholes. People outside the industry may not know that in the land auction announcement, land is generally divided into two natures: "stock land" and "reserve land", the so-called "reserve land" is the land that is planned to be requisitioned and relocated, but there are buildings above the ground and need to be compensated for a third party. The interest groups of those old state-owned enterprises are a group of people who are guarding the "reserve land" and waiting for compensation. As the legal holders of the land at this stage, without their consent, the land cannot enter the circulation and auction procedures. If you want to get their land, you have to talk to them first, and then they will apply to the land department to sell it.

This negotiation process is a process of exchanging interests. Back in the past, who can win the merger and reorganization rights of a state-owned enterprise? They are all power gangs that have a zài relationship with government leaders. Now, they legally occupy state-owned land, and real estate companies take a fancy to their land and talk to them first. After the conditions are negotiated, what should I do if I want to go through the listing procedure? They have a way, first evaluate the ground buildings, evaluate them to sky-high prices, and then apply for auctions, and the companies that really want to take the land have long been scared away by their compensation requirements, and the listing is just a procedure, and finally the payment is transferred to the hands of the agreement buyer.

The process is so dark, so dark that you can't imagine it's real or fake. There is a local real estate company, which is a leather bag company established by several old cadres under the supply and marketing cooperative system, and after the establishment of this company, it did not do anything, and relied on the power in its hands to acquire and merge many enterprises under the supply and marketing cooperative system. In the past ten years, the company has not built a single square meter house, and the shareholders have become billionaires by selling land. The chairman of the board of directors once proudly told me that when the last three parcels of land were sold, he would move to Hainan, and he had been decorating his villa there for several years.

The current system of land bidding, auction and listing is the "root of all evil" of the problem of high housing prices, because bidding, auction and listing continue to push up land prices, which has promoted the sharp rise in real estate prices. At the Land Office, everyone is a private participant in the sale and purchase of land. Because every land listing application must first be submitted to the land exchange, they have first-hand information, and when they see a good land, they first contact the real estate company with their good relationship and reach a transfer agreement privately. When the listing announcement comes out, all of them have been negotiated in private, and there is only one procedure left.