No Salary, No Office Pressure: Chinese Man Achieves Financial Freedom at 30 with 14 Flats (OpenAi)
New Delhi: It is the dream of many people to achieve financial freedom away from job, business and everyday hustle and bustle, but a young man from China has claimed to make it a reality at the age of 30. He invested a large part of his earnings in real estate and bought 14 flats in no time. Of these, 12 flats have been given on rent, from which he is earning around Rs 25 lakh every year. However, the story of reaching this milestone is not limited to just buying cheap houses. Behind this there is also a long account of investment strategy, risk and maintenance of assets.
The name of this young man is Fan Junji and he is a resident of Jilin province in China. He had reached Changsha city in Hunan province in connection with the job. Here he worked in the field of internet-based healthcare sales. In this job he had to work for about 18 hours every day. Due to constant work pressure, he was not able to take out time for his personal life. During this time, he prepared a plan to create such wealth that would provide regular income even after leaving the job.
Fan chose old residential areas of Changsha for investment. He believed that instead of buying expensive apartments in big cities, small low-cost flats could prove to be more practical. Less capital is spent on their purchase and there is a possibility of getting tenants due to their proximity to hospitals and other important places.
He gradually purchased 14 flats between 2023 and 2026. His total investment on these is said to be more than 20 lakh yuan, which is around Rs 2.5 crore in Indian currency. Most of the flats purchased are 30 to 50 square metres. He kept two of these flats for his residence, while gave the rest on rent.
According to Fan, he earns about 17,800 yuan every month from his 12 rented flats. According to this, the annual rent comes to approximately 2.13 lakh yuan. This amount in Indian currency is more than Rs 25 lakh. The purchase price of the cheapest flat was about 1.5 lakh yuan, which gives her a monthly rent of about 1,700 yuan. At the same time, the price of the most expensive flat was around 2.45 lakh yuan and the rent comes from it to around 2,200 yuan.
There is another side to the fan's story. Despite having many flats, it is not easy for him to manage them. Constant expenses have to be incurred on finding tenants, keeping the house vacant, repairs and maintenance. He uses social media, property agents and local advertisements to reach out to tenants. For giving houses on rent, he considers the time after festivals and after completion of studies in colleges to be better, because during that time the number of people looking for houses on rent increases.
Fan has now given up his intention to buy more flats. He says that at the time he started investing, good properties were available at low prices. Now it has become difficult to find such property. Earlier he had estimated returns of around 11 per cent based on rent and purchase price, but after adding expenses like repairs, vacancy period and agent's fees, this figure has come down to around 6.6 per cent. He is also considering selling two-three flats which are giving low returns.
Fan now wants to invest his property in different options. His plan is to invest money in stock market, dividend-paying companies and funds along with options like bank deposits and insurance. He believes that investing the entire capital in one type of asset can be risky. While sharing his story, he has also cautioned other people not to decide to buy a house just by looking at the rental income. It's important to factor in the purchase price as well as repairs, taxes, vacancy periods, and other expenses.
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