Chapter 1428 - Taking Down The First House (2/2)

Just as Li Du had estimated, the bids for the house continued to rise and very soon, it reached 50,000 dollars

Everyone had the sa such an old house, they could just tidy it up a little before renting it out If the house was not badly daht even reach 20 percent!

In property auctions, the final transaction price was very predictable The range that people would bid was determined by the estimated value of the house Generally, if the value of the house was less than 100,000, the her would be too risky

If the value of the house was less than 200,000, then the highest bid would be 60 percent of the estihest bid would be at 70 percent When it cahest bid would be about 80 percent of the estiher, there would not be any other applicable guidelines People would only be able to make a quotation based on their own experience and luck A house with a value ofloss for the buyer, and those who dared to bid for such a house were generally well-off

At 50,000 dollars, the enthusiasm of the bidders started to dwindle

Someone started to analyze, “If it’s 50,000 dollars… the annual rent is about 7,000 to 8,000 The rate of return would be 15 percent But there would be property tax of 2,000 to be paid, the gardeninsurance and maintenance costs will add up to another thousand… Okay, let’s risk it, 51,000 dollars!”

“55,000 dollars!” Another house-picker bid

The auctioneer pointed at hientleher, for example, 56,000 dollars?”

Li Du rubbed his chin “60,000 dollars!”

Hearing that, some of the house-pickers started to shake their heads

“Dmn, that amount is a little risky!”

“A lousy house like this is worth at her and he would lose out!”

“Where did thatour crowd in Santa Monica?”

“He’s a treasure hunter, he is fro So he’s a newbie? Let him take it then”

Theof 90,000 dollars, the house could be sold off fast However, the house-pickers were not willing to bid too high because they did not know if the water pipes, electrical circuit and wall paneling of the house were in good condition

Li Du did not have that concern He had used the little bug to take a look The house had been quite wellTo buy the house at that price would guarantee him steady profits

The auctioneer pointed at hian to confirher bid? 60,000 dollars twice, if there’s no one else – buddy, you won the bid at 60,000 dollars!”

Li Du grinned and nodded He raised the nu onto and showed it to the auction official The rest of the procedure would be to transfer the property and there would be an intermediary to assist him

The second house was now put up for auction It was a bungalow in the urban area The house was very new It was only ten years old and belonged to the category of newly built houses The price of such a house was relatively high The h it was only 140 square meters, was about 300,000 dollars

Li Du did not bid for the house There were squatters who lived in it, and they had children It would be very difficult to obtain an eviction order and get them out of the house

Others were also aware of that information They had inquired about the house in advance The final price of the transaction was one 120,000 dollars If the people living inside could be successfully evicted, there was a very high potential profit to be h

Li Du looked at the house-picker who took the house Li Du estimated that the house would be useless to the ally was a lawyer, and he must have found a way to stay in the house