Discussion document · 25 October 2026 · Proposed terms, not a subscription agreement.
The opportunity
Partner with Trương Đức Vinh on sourcing, fit-out and long-stay apartment operations. Proposed portfolio commitment: VND 2.1bn across six projects, with an illustrative budget of VND 350m each including landlord deposit, setup and reserve. No specific six-project pipeline is claimed as secured.
Responsibilities & economics
Investor: initial capital. Vinh: project sourcing, fit-out coordination, marketing and operations. Proposed distribution: 50% investor / 50% operator after all costs, taxes and the agreed reserve policy. At VND 21.875m distributable cash per project per month, six operating projects produce VND 65.625m per month for the investor; simple payback is 32 months before delays. These are assumptions, not promised returns.
What to review
Property and permitted use; lease and subletting terms; landlord deposit; independently checked fit-out budget; rent and vacancy assumptions; fees, taxes and reserves; monthly reporting; banking controls; loss allocation; exit, transfer and operator-replacement terms. Funding, ownership and payment arrangements require qualified review for the parties involved.
Status: project-level due diligence pending
Investment basis & due diligence
Separate operating evidence, modelling assumptions and documents still to be reviewed. Supporting records are shared after review and redaction; requesting them does not commit you to invest.
One project · evidence before funding
Capital allocation
VND 350m is an illustrative budget for a proposed new project, not the historical cost of either reference building. Request a dated breakdown of landlord deposit, fit-out, equipment, fees and working reserve, with quotes and payment milestones. Allocation awaits project-specific evidence.
Operating evidence
Review real project photos, room-level leases, rent earned, receipts and expenses for the same period. Reconcile prepaid rent to the months it covers and record refundable tenant deposits as liabilities. A billed total is not collected cash or net profit.
Payback and responsibilities
The 15–17-month project target is an assumption, not investor payback. At a 50% distribution share, equivalent investor payback is 30–34 months before delays under constant cash flow. Count landlord deposit recovery only when received; review vacancy, cost overruns, tax, reserve and exit terms.
Six projects · a separate portfolio review
Six independent files
VND 2.1bn = six illustrative VND 350m budgets; it does not establish six secured properties or repeatable returns. Review each lease, permitted use, fit-out budget, rental assumptions and fire-safety records separately.
Staged funding proposal
Agree milestones for each release: property and documents reviewed, budget approved and operating readiness checked. Set evidence required before the next project, a reserve floor and who approves overruns. These controls remain proposals for written agreement.
Cash calendar and governance
Model staggered opening dates and periods with some units unlet, rather than multiplying one good month by six. Separate investor and operator distributions, losses and further funding; document signing authority, reporting, related-party transactions and exit rights.
For any structure in which Vinh is both landlord and co-investor, use a separate agreement identifying each role, deposit flows and related-party approvals. It is not the standard six-project illustration.
Available public references
- Nui Thanh: photos & source notes
- Hung Hoa: photos & source notes
- Nui Thanh: provisional operating snapshot
- External research evidence (Vietnamese)
These references do not validate a new project’s profit, legal eligibility or safety. The research feed is external context, not property-level verification. Detailed evidence is subject to availability and reconciliation.
Request due diligence records ↗Evidence & next step
The Nui Thanh reference has 15 rooms and a provisional October 2026 billed total of VND 118.09m including charges. It is not settled net profit or verified cash collection. See the full snapshot and reconciliation notes.
Request an introductory discussion and property visit, then review supporting records before agreeing terms or transferring funds.
Trương Đức Vinh
v.truongduc@gmail.com · +84 916 889 090
vinhinvoice.com/investment-partnership/