Chapter 1429 - Raising the Bid (1/2)

Chapter 1429: Raising the Bid

Translator: Nyoi-Bo Studio <i class="_hr">Editor: Nyoi-Bo Studio

Before attending the auction, Li Du had only planned to bid on two houses, a bungalow, and a manor The former had some items he was interested in, and the latter was his personal favorite

However, after the auction began, he realized that the power of the little bug was irresistible He could control the entire situation in the real estate auction trade!

The house-pickers did not dare to call out just any price They orried that there ht be issues with the house and that if they were too daring, their o to waste They were unable to withstand such losses

Li Du did not have such worries He was cautious and had checked out everything related to the house If there were a problem with the house, he would know more about the situation than the owner Hence, based on the value of the house, he could give the most accurate offer

It was similar to warehouse auctions However, at those auctions, s in a warehouse were usually of low value There was no need for him to be obsessed with that trade After all, it was rather troublesome to tidy up the warehouses

It was different with real estate Every house had a potential profit ood bid, he could resell the house for a nice profit He could potentially earn millions of dollars in every such auction

It was different from warehouse auctions Under favorable circuin was huge!

Li Du gave up on the second house and ed to take down the third, fourth and fifth houses, spending 55,000 dollars for each That meant to say that out of the first five houses, he had taken down four!

The house-pickers did not look kindly upon this They did not appreciate the disruption in their usual dynaalow that spanned across 2000 square feet It had a backyard, base the house, the buyer would also gain the plot of land Land was a key point in American real estate trade

The location of the house was not stellar It was located on the city border of Santa Monica Transportation, schools, and facilities were not too conveniently located

Of course, A, there was no major difference between urban and rural areas

In China, the environment in which people lived was very different between urban and rural areas The city was a place where all resources were concentrated All sorts of institutions were located in urban zones Whether it was shopping, eating, working, playing, seeing a doctor, or going to school, all the resources were better in the city

It was different in the United States, where facilities were equally developed e city, a small town, or out in the country, with the exception of very re was pretty much the same everywhere

Each area of residence had self-sufficient facilities catered for daily living, including shops, banks, hospitals, schools, etc

Hence, city centers in Ahborhoods for the poor ere unable to enjoy a peaceful environenerally chose to live in the suburbs or the countryside

However, this was not absolute It was not that a city was better than the suburbs or the countryside, or the other way around One could only conclude that there were advantages and disadvantages to both

For a faood choice There were h rate of violent cris

The location of the sixth bungaloas typical However, the surroundings were decent Hence, it had good value and the starting bid was 200,000 dollars Li Du estio up to 500,000 or 600,000!

He was interested in that house Having taken down a consecutive few houses prior to that, he beca started, Li Du raised the bid, calling out, “300,000!”

To raise the bid so much was considered quite dramatic A couple of people looked on ide eyes

The auctioneer was ecstatic He pointed at Li Du and yelled, “Did I hear that right, buddy? You are forking out 300,000 here Froht to 300,000! Seems like you are full of confidence about the house Is there anyone who is as confident? How about ten thousand h the house-pickers were rich, they could not spend just like that

Most of their money was locked up in their properties They did not have much cash on hand Their fluid funds probably added up to one million or even less Furthermore, most of them relied on bank loans

Under such circumstances, they had to watch their expenses Once their funds ran into some fluidity issues, they would have to sell off their property pre-ticket item, if they were in a hurry to sell it off, they would have to lower the price

To the house-pickers, selling a house at a lowered price was considered a loss