I'm sorry for the late update. It's more difficult to repair the circuit in the old residential area. I'm sorry for the late update. "
At this price, Li Du shook his head. According to the market value of 300,000 dollars, the price had entered the risk-averse range. The other party could give up at any time.
He did not want to be impulsive because of a house that was corroded by termites. He did not care about the money, but it would be stupid to do so.
When he realized that Li Du had quit, Abel was elated. He heaved a sigh of relief and thanked himself for his persistence. He had finally snatched a house from Li Du.
Some house-pickers also felt that they had vented their anger and shouted, "Hey, Chinese, aren't you rich? Why did you quit so soon? "
Li Du glanced at him and said, "It's not like you bought the house. Why are you so arrogant?"
The man was speechless. Abel stood beside him and said proudly, "My buddy is asking for me. Aren't you rich? I thought you would buy all the houses today. "
Li Du looked at him calmly and said, "I quit to save you money."
"You're so kind." Abel laughed. "Buddy, I didn't know you were such a kind guy."
Li Du said, "It's up to you whether you believe it or not. I'm just trying to help you save money. The market value of that house is 300,000 dollars? I helped you save 80,000 dollars. You can use it to remove the termites and renovate the house. That will cost about another 80,000 dollars. That way, you won't lose money. "
Hearing this, the smile on Abel's face froze. He said, "You're talking nonsense."
Li Du looked at him in surprise and said, "What nonsense? Didn't you notice? There are termites in that house. I dare say that there must be an ant nest in it. Go back and look. I hope you can find them soon. "
His words were very certain, and his attitude made Abel and his partner panic.
Just like when he was talking to Li Du, Abel's partner, Andy, pretended to be calm and said, "He's talking nonsense. Don't believe him."
Dickens and the others gloated and sneered, "Idiot, if you believe him, just wait for your bad luck."
"Why do you think no one bid for this house? What a fool. Boss Li is bidding alone. Don't you think about why? "
"He definitely didn't expect it. That's forgivable. He doesn't know how powerful Boss Li is."
"You should ask around about Big Li. There are also treasure hunters in Los Angeles. It's not difficult to find them and ask them about someone."
The auctioneer didn't give them any time. The seventh house was displayed, which was located in the same neighborhood as the previous house, E-45.
The value of this house was not bad. Li Du felt that there would be room for profit if it was within 250,000.
Akkalou made a move and bought the house for 240,000 USD.
This price was already in the risk-averse range of the house. Any higher and it would enter the profit range.
Profit margin meant that as long as one bought a house in this space, there was a possibility of profit.
The reason why the house-pickers did not set the price within the profit margin was that there was a risk in the house. The risk aversion margin was what they valued more.
Before entering the risk-averse space, taking over the house meant that there was no danger and they would definitely be able to make money. However, after entering this space, taking over the house meant that they would have to take risks. The house-pickers were not willing to take such risks.
However, Li Du dared to take the risk. Actually, there was not much risk for him. After all, he knew exactly what the house was like.
Just like that, under his lead, the treasure hunters caught the house-pickers off guard. Out of the 20 houses that were put up for auction, they bought a total of 15 houses!
The house-pickers did not expect such a situation. They were not prepared. Bidding for real estate was very different from warehouse auctions. This industry placed a lot of emphasis on preparation.
After all, the value of real estate was incomparable to that of warehouses. If they decided to increase the price at the last minute to buy a warehouse, they would at most add a few thousand dollars. It was not a big deal even if they lost money.
Houses were different. Once the price was increased, it could be tens of thousands or even hundreds of thousands of dollars. If the house was at risk, the losses would be huge.
Moreover, the house-pickers and their partners did not stay together. Instead, they went their separate ways. Under such circumstances, it was not convenient for them to change their minds at the last minute. After all, they could not communicate over the phone.
Just like that, Li Du led the treasure hunters to make a call and bought a large number of houses.
There were still five houses left. This time, the treasure hunters gave up. That was because the remaining houses were either villas or condominiums. The asking price was very high, easily millions. They did not have that much money.
They gave up and Li Du made his move. The profit margin of the houses in front was small and he was not very interested. These big houses were his targets.
Wolf King Logan, who had not bid before, also perked up. Li Du suddenly knew that his target was also these more valuable houses.
Los Angeles did not have a purchase restriction policy. Some of the good houses could be sold for a profit after some decoration.
For example, the houses that he bought last time. There were a total of six houses. Two of them were cleaned up by the cleaners. Snyder Tilav helped him put them up on a website and sent them to major real estate agencies. Immediately, there were people interested.
The total price of the two houses was 385,000 dollars. After cleaning them up, they could be sold for 250,000 and 400,000 respectively. Very soon, he could make a profit of more than 200,000 dollars!
Among the five villas, the first one was a colonial-style building. This kind of house was more common on the East Coast. 'Colonial-Style' meant 'colonial'. This architectural style came from the European colonial period, brought by the British and French colonists.
The structure of the house was generally symmetrical. On both sides of the main door were pairs of floor-to-ceiling windows. There were decorative patterns above the doors and windows. On both sides of the main door were pillars to support it. In the garden, there were pavilions and fountains. It was very imposing and gorgeous.
Naturally, its price was also very high. Even if such a house was old, the market price would still easily exceed a million dollars!
Li Du had asked Snyder to estimate the price of all the houses. As he understood the specific conditions of the houses, his estimate was more accurate. This villa was estimated at 1.8 million dollars!
The starting price of the villa was not low. It started at 600,000 dollars.
There were five or six people who were interested in the villa. Like Li Du and Logan, their wallets were rather rich. Hence, the bidding was even crazier. The increments were all in the hundreds of thousands.
"Six hundred and fifty thousand!"
"I'll bid 750,000!"
"800,000!"
"Be quick. We all know that this house is worth more than this. Eighty …"
"One million." Li Du smiled at the house-picker. "Yes, we all know that it's worth more than this. So don't waste time. Show us your trump card."
Logan said slowly, "One million and two hundred thousand!"
The house-picker, who had wanted to scold Li Du for raising the bid too high, immediately shut his mouth. Logan had also raised the bid by 200,000 dollars. If he were to scold Li Du, he would easily offend him.
Li Du raised his hand. "One million and three hundred thousand!"
Logan did not bid again. The other house-pickers did not bid either. One million and three hundred thousand. The house was sold at a price lower than Li Du had expected!
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