He retired at 30 with 14 flats worth Rs 2.8 crore earning Rs 42 lakh a year, but isn't happy

A 30-year-old man in China bought 14 ageing apartments over two years, spending more than 2 million yuan (around Rs 2.81 crore) in a bid to retire early and live on rental income. His properties in Changsha, Hunan province, have since provided him with an estimated annual income of 210,000 yuan (around Rs 29.5 lakh), according to SCMP.

Fan Junjie, who is originally from Jilin in northeastern China, moved to Changsha for work and spent long hours in internet healthcare sales. Having become familiar with the high cost of housing in China's major cities, he saw older apartments in downtown Changsha as an affordable investment opportunity. Some were available for as little as 300,000 yuan (around Rs 42.1 lakh), including renovation costs.

Fan began buying properties in 2023 and acquired 14 cramped, decades-old flats with outdated facilities, commonly known in China as “laopoxiao”, over the next two years. Eleven of the apartments are now rented out.


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He concentrated on properties near Xiangya Hospital and adopted standardised renovation methods to simplify maintenance. He also kept spare parts available to reduce the time and effort required for repairs.

The cheapest apartment cost him 150,000 yuan (around Rs 21.1 lakh) and earns 1,700 yuan (around Rs 23,900) in monthly rent. His most expensive unit cost nearly 310,000 yuan (around Rs 43.5 lakh), including taxes, agency charges and renovation expenses, and brings in 2,200 yuan (around Rs 30,900) a month.

By the age of 30, Fan had reached his goal of financial independence and early retirement, a concept widely known as FIRE, or financial independence, retire early.

Why Fan is moving away from rental properties

However, managing the apartments proved more demanding than he had anticipated. Agency fees, taxes, repairs and tenant-related responsibilities reduced the appeal of rental income as a source of relatively passive earnings. Falling property prices also exposed his investment capital to the risk of losing value.

On October 26, Fan announced on social media that he would stop buying properties, saying the most favourable period for such investments had passed. He now plans to redirect his money towards dividend funds and stocks that offer high payouts.

Fan views rental income and dividends as similar sources of cash flow because both come from income-generating assets. However, he considers the ability to access his money a key advantage of financial investments. Dividend funds can generally be sold within days, while finding a tenant and receiving the first rent payment can take weeks.

His decision has attracted widespread attention on mainland Chinese social media, with his story receiving more than 200 million views across platforms. It has also drawn attention to a growing interest among younger Chinese investors in dividend-paying investments as a way to build retirement savings and achieve greater financial independence.

People born after 1995 accounted for nearly 40% of users of dividend index funds in the first half of this year, marking a 44% increase from the same period a year earlier, according to Ant Fortune data.

Some social media users have described dividend income as a potential route out of stressful workplaces, arguing that they would consider leaving their jobs once investment payouts exceeded their salaries.

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Why dividend income does not guarantee financial security

Financial analysts have cautioned that dividends should not be treated as guaranteed income. Company payouts depend on business earnings, while a decline in share prices can reduce the value of an investor's capital.

Fan has also spread his money across different financial products. He keeps emergency savings in Yu'ebao, Alipay's money-market product, and places funds intended for expenses over the following one to three years in low-risk bond funds and bank wealth-management products.

Now living and travelling in Laos, Fan has cautioned that his approach may not suit everyone and that investment decisions should reflect individual financial circumstances.

His shift from property to financial investments has prompted a wider debate online about the risks involved in both asset classes. Some users have supported diversification, while others have pointed out that poorly timed investments in either real estate or stocks can result in losses and require careful research.