Perfect money-losing plan

"This development?"

"It's an unfinished building. It's been like this for many years. The developer ran off a long time ago, and the project has just been stuck here ever since, with no one to deal with it."

Mei Yun gazed at the development in the distance, a sigh escaping his eyes.

Back when they were building the East City Apartments, this development was also under construction.

It was all because of the news that spread back then that East City would be a key development area for Jiangcheng. Because of this news, many people started investing in East City in advance.

Their East City Apartments was one such project, and this unfinished building was another.

When this unfinished building was one-third complete, the news about East City's development fell through, and the focus shifted to North City instead.

This resulted in the development failing to sell its units well when it finished all the paperwork and started pre-sales.

After all, the target for this development was high-end, so the pre-sale prices were over ten thousand. But because the East City development plan fell through, few people were willing to spend a large sum to buy a property in a location without any surrounding development.

Poor pre-sales meant there was no return of capital.

Nowadays, when developers build a property, they don't have much construction capital themselves; they rely on funds returned from pre-sales to maintain the continued construction of the project.

No return of capital meant the developer didn't have more money to build this building. In the end, the economy collapsed, the developer had no money to build, and they just ran away.

"So it really is an unfinished building!"

Chen Mo listened to Mei Yun's answer, understanding in his heart. He had already guessed it just a moment ago.

Gazing at the unfinished building fading into the distance, a thought couldn't help but well up inside him.

However, before implementing this idea, some questions still needed to be confirmed.

"What is the current situation with this unfinished building? Has no one taken it over?"

"Take it over? How could anyone take it over?"

Mei Yun shook his head slightly. If it weren't for President Chen, no one would have taken over the East City Apartments either.

Not to mention some unfinished building that was only half-built.

"Tell me what the reasons are. What problems would one encounter if they took over this development?"

Chen Mo continued to ask. He needed to understand clearly to see if this development was worth his investment.

Spending money was fine, but he had to ensure that after taking over this development, there wouldn't be much income coming in.

"President Chen, are you planning to take over this unfinished building?"

Mei Yun heard President Chen's words and vaguely guessed the meaning behind them.

"Mhm, I have that intention. Tell me about the current situation of this unfinished building."

Chen Mo smiled slightly.

Hearing this, Mei Yun felt a little anxious and hurriedly said,

"President Chen, it's best not to take over this unfinished building."

"Why do you say that?"

Chen Mo was instantly interested. The more people told him not to take over something, the more beneficial it was to him, and it was exactly what he needed.

"President Chen, first of all, there's the issue with the unfinished building itself. If you take it over, many things need to be handled. After all, this development has been unfinished for many years. If you want to rebuild it, you need to pass quality inspections before you can proceed with reconstruction."

"Also, this development has already undergone one round of pre-sales. Although the results weren't ideal, some people did purchase homes in this unfinished building. If you, President Chen, take over this development, how will you handle those people who bought the homes?"

"They have already paid the money. If you don't give them the homes, they will definitely find ways to make a scene. If you do give them the homes, you will sell fewer units, President Chen!"

"Besides the problems with the unfinished building itself, there is also the issue of the East City area."

"North City is already mostly developed, and the next target is South City. Who knows when East City will get its turn? If you take over the unfinished building now, you will still face a problem."

"That is, there will still be no one buying during pre-sales. Even if it's finished, I don't think anyone will come here to buy a house."

"After all, there are no malls, no schools, no transportation—nothing here."

"So, instead of taking over the unfinished building here, why doesn't President Chen go to South City to get a plot of land and develop a new project? I checked before; there are quite a few plots of land up for tender there."

"And South City is already in the development stage, so there won't be any more of those false rumors like the one about East City's development."

"…"

Mei Yun simply recounted all the information he knew. As for the land tender in South City, it was entirely because his family wanted to invest the money from selling the East City Apartments into South City. After all, development had been confirmed there, so it would be relatively safe.

"Is that so!"

Chen Mo listened to Mei Yun's explanation and secretly suppressed the excitement in his heart.

Quality inspection for taking over the development? He didn't seem to need that!

In order to consume more System Funds, of course, he didn't need this half-built project. He could just tear it down and rebuild it. Who needed a quality inspection?

And those pre-sold units—for someone like him who wanted to spend money, that wasn't a problem at all.

Since he had taken over this development, he would be responsible for those who had already bought homes. After all, some people had used their family's life savings to buy a Room. If they lost the home just like that, their life's hard work would be gone.

However, considering his plan, he might not give those who bought homes the actual units; he might just refund the money they spent on the homes at the original price.

Whatever price they bought it at, he would refund that same amount.

After hearing Mei Yun's analysis of East City, he already had a plan.

That was to take down that unfinished building, tear it down, and rebuild it. For the rebuilt units, he would choose large layouts of over 200 square meters, make the Complex more high-end, and equip it with everything, including landscaping.

He would handle the property management himself and provide very comprehensive services.

The Rooms would all be luxuriously furnished, the kind you could move into with just your luggage.

This way, there wouldn't be a problem with setting the selling price higher, right?

With such great decoration and configuration, it wouldn't be excessive to sell it for 50,000 per square meter, right?

This way, a house of over 200 square meters would cost over 10 million.

And the property management fees—with such top-tier service, charging 5 yuan for property management fees wouldn't be excessive, right?

With such high consumption, surely no one would buy it.

After all, back then, when it was 6,000-7,000 per square meter, no one bought it. Let alone now, at over 50,000 per square meter, plus high property management fees.

With such huge expenses, ordinary families certainly wouldn't choose to buy here. Even if they wanted to, they might not be able to afford it.

And wealthy people wouldn't buy here either. There were no amenities around. Buying a house here for over 10 million would be worse than buying one in a good location.

So, as long as he took down that unfinished building and built it according to his plan, once it was finished and no one bought it, the money invested in the development would all be lost.

This was a truly perfect money-losing plan!