Mr. Imano in Saitama prefecture bought an apartment at 1.5 million yen and sold it three months later at 7 million yen

His only child was about to realize her dream of studying music, singing, in Milan.

Fifty-two years old Imano worked in a die and mold factory. At a restaurant in the Narita Airport, he celebrated with Mr. Nakayama, thanking him for his help in realizing his daughter’s dream.

Mr. Nakayama was the auction concierge who had suggested Mr. Imano bid for a two-bedroom apartment in a foreclosure auction. And the gain from the transaction paid for his daughter’s study. Mr. Imano praised Mr. Nakayama.

“I’m still amazed how you got the owners association to agree. The default amount was 3.52 million yen with the damage interests of 1.2 million yen.”
“There is a commercial prescription. And the association is ignorant and lax, allowing the service and maintenance fee to be unpaid for nearly 15 years.”
“But even with prescription of 5 years, the debt should be nearly 1.2 million yen. How did they agree to 500,000 yen? That’s where your know-how came to act. I am grateful for what you’ve done for me.”

Mr. Nakayama repeated negotiations with the director of the association. He did not discuss legal interpretations, but rather claimed the need to meet in the middle, for both to compromise, so as to return the apartment building to the normal state as soon as practical. And for Mr. Nakayama, Mr. Imano is more of a friend than a customer.

Mr. Imano first asked Mr. Nakayama to sell the apartment, the sole asset he owned, to pay for her daughter’s study in Italy. Mr. Nakayama also helped Mr. Imano acquire the apartment. So, instead of selling the apartment, he introduced a property that he himself wanted to bid for; he also knew the director of association can be swayed.

“I am just happy to be of your help. Besides, I earned a commission.”
“Thanks. By the way, the garden was much improved, which really helped.”
“My wife is into gardening. And she enjoyed it.”

Mr. Nakayama handled the eviction order to the compulsory execution, and finished renovating the apartment and the garden. The default obligation was 500,000 yen; the cost of eviction 300,000 yen, renovations 700,000 yen. With the commission of 300,000 yen and miscellaneous expenses of 200,000, the total cost with the bid price came to 3.5 million yen. And he sold it for 7 million yen.

Once you get to know auction concierge in person they may introduce an asset like this one.

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