Some questions about the Wenzhou incident of flipping houses and becoming a billionaire

It is very common to pay 1/5 of the down payment when buying a house! He listed it for sale for 1 million for the first time. He borrowed 200,000 from himself and 800,000 from the bank. 400,000 was used to buy the house. .Do you have 400,000 left?

Then use 400,000 to buy 4 houses... and then use the same house... Isn't it ok?

It is equivalent to using the bank. Use the money to speculate on houses. Wait until prices go up. Because the houses bought are basically 500,000 yuan.

Wait until the housing prices go up. .For example, a set worth 1 million.. He has so many sets...Sell them all at once..

Can't he repay the bank loan...Did he still make a lot of money?

Nowadays, banks will give you loans when buying a house. Very few others will give you loans!

So make money by speculating in real estate. Use the bank’s money in the early stage.. This is the truth!