Chapter 1427 Despise (1/2)

Although the house-pickers appeared to be friendly towards each other, Li Du could feel that there was some tension beneath the friendliness:

”Hey, Cavan, long time no see. Heard that a dog bit you when you went to take over the house. Seems like you've recovered well.”

”I'm good. That son of a b*tch only bit through the skin. But Bryan, your presence here gets me even more surprised. Did you waste your money on that frilly villa? You managed to sell off that lousy property?”

”No hurry, the American property cycle is fifteen years. I should have some patience, right?”

”That house will not be easy to get rid of. You guys know that, right? More than half of the owners of this batch of houses are problematic.”

”Where did you get that information from? Buddy, are you starting to talk about the trashy news you found online again? Haha, but I believe you. I'm here just to look, I will not take action.”

”You'd be lying if you said that you won't take any action. Don't think that I don't know you had wanted to go to Changning Street number 141 to check out the houses. In the end, you were found out and almost arrested by the police…”

Hearing their banter, Li Du found it quite useful and informative.

To be specific, he learned that the property trade in Santa Monica right now was not too popular. All these people had a few houses in their name. They were prepared to keep the houses for a couple of years before selling them off.

Theoretically, the longer one held onto a property in the United States, the more confident one would be of making a profit. If the investment was for the long term, one would have a sixty percent chance of making a ten-percent profit after waiting for five to six years. If one waited for ten years, the value of the house might even double.

Of course, only select houses were worth keeping around to make big bucks. It was still better to sell the regular houses and gain what profit they could fetch.

The best houses had a good location, school districts, transportation and more. These attributes were the key to making money from selling real estate. In other cases, it was good enough if the house-pickers could make up for their daily expenses by reselling the property.

Although the house-pickers were dressed casually and drove cheap cars, they actually had a high net worth of at least a few millions. Most of them were billionaires.

Their money was locked in their property. Every time they took down a house, they had to withdraw a huge amount of funds. However, each time they withdrew funds, it was almost certain that they would make big bucks out of it. Many houses could be sold for hundreds of thousands if not millions.

Li Du had been standing in the crowd. After some time, naturally, there were people who took notice of him.

Someone came over and asked, ”Hey, buddy, are you a staff member here? I've never seen you before.”

In the property trade in the United States, there were many third-party agencies that would hire people to assist in real estate transactions. There were valuation companies, house inspection companies, paperwork companies, banks, real estate agents, title insurance companies, and so on.

These companies would arrange for their staff to be at the auction site. After the auction was over, if the house ownership was to be transferred, they would be able to help.

Li Du shook his head and said, ”No, I'm here for the same reason as you guys. I'm attending the house auction.”

The man nodded and said, ”Oh, I see. Which house are you interested in? Are you planning to move in yourself?”

Li Du smiled and said, ”Yep. But if it's possible, I would like to bid for other houses as well.”

After hearing his reply, two house-pickers scanned Li Du carefully. One of them said, ”I seem to have seen you before. You drive a Ferrari?”

Those two men were the house-pickers that Li Du had bumped into at the villa previously. At that time, he had wound down his car window to enjoy the sunshine and breeze. The two parties had caught a brief glance of each other.

Li Du initiated a handshake and said, ”That's right. We've met before. Hello, I'm Li from Arizona. Very pleased to meet you guys.”