Spending 1.2 billion dong to buy a land in Dong Hung Thuan ward, District 12 (Ho Chi Minh City), after nearly a year, Mr. Huu Thang sold it for 1.75 billion dong, minus all his expenses 450 million. copper.
Below is the sharing of Mr. Huu Thang with Batdongsan.com.vn about his suburban land investment story:
I come from Hanoi, I moved to Vung Tau to work, then got married and gave birth to 2 boys. Both husband and wife have stable jobs, I work in the army, my wife works as an accountant for an import-export company, the total monthly income of the whole family is about 40 million VND. My wife and I have bought an apartment with an area of 80m2, just enough for 2 couple and 2 children to live comfortably.
After paying off the mortgage, at the beginning of 2018, we saved about 1.1 billion dong. This money, my wife and I deposit money in the bank to get interest every month. But the interest is not worth it, it’s almost like the money is immobilized. Therefore, my wife and I discussed how to withdraw money to invest in order to expect “money to make money” quickly. But investing in something that is both safe and profitable is a difficult problem.
My parents advised me to buy gold for safekeeping, without worrying about devaluation, but my wife and I did not want to do so. Investing in stocks is too risky, because we are not knowledgeable about this area either.
An image of an empty land adjacent to a spacious asphalt road
The location of the land you choose to buy is one of the extremely important factors when investing in suburban land. Internet photo
Wondering where to invest, the banker told him that the land in Dong Hung Thuan ward, District 12 (Ho Chi Minh City), the owner needed money urgently, so he wanted to sell it for 1.2 billion dong. At that time, the land market in the suburbs of Saigon was also heating up, so I discussed with my wife to go to see the land first, if you like, invest because the land is now increasingly scarce, then resale will definitely increase . Seeing reasonable, my wife agreed immediately.
A few days later, the couple took a car to Saigon to see the land. This land has an area of 50m2, has a red book, is located near An Suong market, spacious paved road, infrastructure, electricity, full tap water. After considering the legal factors, the location, and the amenities around, I decided to make a deposit to buy. After about 3 weeks of raising an additional VND 100 million borrowed from relatives (without interest) and conducting purchase and sale procedures, we have stood on the first big investment in life with a feeling of excitement and worry. to settle.
During a year, my husband and I regularly listen to and update information on the land market in Ho Chi Minh City. After the time of purchase, there are times when the land price in the area we invest is almost immovable or increases a little bit, but fortunately, by the end of 2018, the price is continuously increasing. By February 2019, through the recommendation of an acquaintance, I sold the above land to a Vietnamese couple for 35 million / m2, equivalent to 1.75 billion VND. So after about 1 year, excluding all expenses and loans from relatives, I have earned 450 million interest.
After hearing my story, many people said that my husband and I were too lucky to have such strong profits because in fact many people lost money or even defaulted when they poured money into the land around Saigon. It is true that my husband and I are a bit lucky, but that only accounts for 5%, the rest depends on other factors.
Firstly, before deciding to invest, I also asked acquaintances to check the planning information and legality of the land at the Department of Natural Resources and Environment and then get the money, not “blindly”. Meanwhile, on the market, there are many customers who are not interested in this information and just go to buy land. When it is discovered that the project is not real or caught in the planned land, the money has gone into the seller’s pocket.
Second, the location of the plot to buy is also extremely important. Although I buy investment, I always assume that if I cannot sell, what can that land do? Is it possible to build a house to live? Is it possible to build a rental hostel? Is there any business to sell or not? Around the land are schools, markets, hospitals, how do residents live? … All these factors are the conditions that determine whether the land is able to increase or not.
Third, investing with safe capital. Because I do not have much investment experience, I am not in a hurry to use financial “leverage” to borrow money from banks, but only choose products that are suitable for my pocket and give priority to the idle cash flow.
In short, a little luck, a bit of caution, a little thought and a bit of assertiveness have helped me succeed in this investment.…