Rebirth starts from e-commerce

Chapter 408
Many people began to investigate the rice balls, trying to find out who was behind this little girl.

They don't believe that only a real estate godfather can support this famous lady who spends money like water.

However, the results of the investigation let them eat a catty.

In addition to asking her godfather (father-in-law) for money, this little girl also played naked loans, she was shameless to the extreme.

Now the most expensive thing for rice balls is the construction of warehouses and intra-city distribution outlets across the country.

And different from the asset-light model of other Internet companies, Fantuan has always been asset-heavy and holds a large amount of land on the edge of the city.

Others are renting warehouses, and he is buying land directly.

This makes onigiri even more expensive.

Obviously Fantuan's capital chain cannot allow him to hold so much land, which starts with the empty-handed white wolf game of real estate companies.

The Li family in Hong Kong City is the most familiar with this trick.

In 04, Hutchison Whampoa bought a large amount of land in Chuancheng for 21 billion. In the past 16 years, it has doubled by 20 times.

His method was quickly learned by other real estate businessmen, first go to the bank to get a loan to get the land, then use the land as a mortgage for a loan, and then go to the next place to get the land...

If this cycle continues, more and more loans will be carried on the body, and more and more land will be in the hands.

In fact, the operation of real estate developers will be more complicated, and they will continue to increase leverage in various links, such as outsourcing the construction of real estate to major builders, and delaying the payment, and pre-selling the building before it is completed, so as to recover the funds in advance ...

Archimedes said: Give me a fulcrum, and I can pry up the whole earth.

And Lu Xun never said: Give the Li family a fulcrum, and he can pry up the entire property market.

Many people see that Hengtai is in debt of 2 trillion yuan, and they wonder why he still owes so much money when housing prices are so expensive and real estate is so profitable?Where did the money go?
In fact, real estate profits are not high.

Assumption: You have a principal of 10 billion, develop a real estate in five years, sell all the houses after five years, and get 15 billion.Only earned 5 million in five years.

If you use the 10 billion principal, get 5 billion with 50 times leverage, and develop five real estate projects at the same time, you will earn 25 billion in five years, and then pay back the bank interest of 10 billion, and you will earn 15 billion.

If the leverage continues to expand and you owe 500 billion, you can earn 150 billion.

If you owe 5000 billion, then earn 1500 billion.

If you owe 20000 billion, then earn 6000 billion.

The above is just a simple assumption, and there are various costs such as taxes that have not been calculated, but it also shows one thing. If real estate wants to make more money, it must mobilize more funds and expand its scale.

This is why Hengtai owes a huge debt of 2 trillion yuan.

So here comes the question again, since the more debt you owe, the more money you make, why not continue to owe more money?Why did Heng Tai suddenly explode with thunder?
Because the more money owed, the higher the leverage and the greater the risk.

In the whole chain of land acquisition, building building, and sale... it is like dancing on the tip of a knife. It is necessary to ensure that there will be no problems in every link.

It is necessary to continuously use the money from selling the house to repay the interest due, so that the money can be continuously borrowed and returned.

Hengtai's thunderstorm is that the house is not so easy to sell suddenly, and the growth of housing prices has begun to slow down, so there is no cash to pay back the due loan for a while.

The bank sees your credit deterioration and is unwilling to continue lending you money.

You still have a lot of unfinished houses in your hands. If you hand over these houses on time, you can still have money to return them to the bank.

But you no longer have the money to finish the building, and it becomes an unfinished building.

Unless someone takes over for him, who can afford the 2 trillion yuan?

……

Luo Xiu is now borrowing the relationship of his future father-in-law to acquire a large amount of land, and then mortgage the land to acquire the land.

He is at greater risk in doing so than real estate.

If you want the bubble not to burst and the cycle to continue, the only reliance is the continuous growth of land prices, and the growth rate must exceed the growth rate of interest.

When the capitals just found out that Fantuan was carrying a lot of loans, they were happy in their hearts.

Just like a female college student with a naked loan on her back, she must be a bad girl who can do anything for money.

However, as the investigation got deeper and deeper, the capitals discovered that the bad girl had borrowed more money than they had imagined.

It is too much for many capitals to bear.

Originally they thought, I have hundreds of millions in my hand, you have to kneel and lick it obediently, but now they find that these several hundred million are not enough to pay back the interest, and they are immediately frightened.

Some small capitals said cursingly: "I thought she was just a bad girl who loves vanity, but I didn't expect that she was pregnant with a gold swallowing beast. Whoever you like to take the offer can take it. I don't want it anyway."

"An honest person can't take this offer!"

"Looking is indeed a symbol of water spirit, who would have thought that the back would be so rotten?"

"Dare to borrow so much money, I really don't know what to do!"

"Does this young man really have no concept of numbers?"

Someone soon thought of the back layer and said, "Could it be that Guan Wenyan borrowed his hand to acquire the land in the name of an Internet company?"

"It's very possible. Guan Wenyan, an old fox, has always been cunning, and now it's becoming more and more difficult for real estate companies to obtain land. It is not impossible to borrow the hands of his son-in-law."

"If everything is the layout of that old fox, we won't be able to participate."

……

There were also some real big capital who were unwilling to give up this juicy cabbage and contacted Luo Xiu.

"Mr. Luo, I am very optimistic about the model of your rice balls, but you don't have to hold so much land, do you?"

Luo Xiu poured him a cup of tea and said slowly, "There is no way, we have to buy so many lands to minimize the cost of storage and distribution, and these lands can't be too far from the city center."

"But can you guarantee that land prices will keep rising? As long as there is a little fluctuation, you will be finished." The other party said seriously: "You don't need to make such high-risk money, you can be more stable."

"What will happen in the future, no one knows, it's just a gamble, isn't it fun?"

Luo Xiu still looked calm and breezy.

That's all he can say, he can't say that he has the ability to predict the future.

"When Japan's real estate bubble burst, countless billionaires went bankrupt overnight. Don't you worry that our real estate bubble will also be punctured? At that time, even Guan Wenyan will be too busy to take care of himself, let alone give you a hand." .”

The earnest persuasion of the capital representative did not impress him.

So many people in the industry called him the biggest gambler and lunatic Luo Xiu on the Internet.

(End of this chapter)