I'm curious about how many times it's usually good to visit a place when you're considering moving. For example, in my case, I think I should go at least twice. The first time is just a casual visit with family to feel the atmosphere of the area, look around, and see what it's like to visit for leisure. That's the first impression. The second time is after the initial visit to see if the area that seemed nice during the first visit still feels good. Then, I would contact the real estate in the area, visit the apartment complex, try out the playground, take the elevator, see the complex in person, and so on. I think it's good to see it one or two times like that. I wonder how many times it's good to visit a place before moving in. There's no definite answer to how many times you should visit, but the more you go, the better. It's probably good to go more than twice. But I definitely want to go at least once or twice.

It seems like something I did. The first one is, as I mentioned earlier, to set the atmosphere and just go around with a car and look at the area, just to get a feel for it. The neighborhood seems nice. Next, this place looks good too. You keep looking around like this, and when you go next time, you narrow it down a bit. Let's see the area, let's narrow it down a bit. Now, we are looking at the zones. When you go for the third time, you have to start looking at the apartments. You have to start looking at the apartments, and then you can check out the properties there, maybe check with a real estate agent, and consider looking at them again. By doing this, you can narrow down the place where you should be. So, I think I have looked at the same area at least three times, continuously narrowing it down. If you keep looking like this, over time, when you go back to the area, you may see something different, it may have changed.

Don't limit yourself, just go several times. If it's hard for me to go on purpose, if I have something to do around there, let's at least take a look nearby when I go. Recently, when I tried to walk around, I realized that it's much better to see things on foot rather than just going by car. These days, what I do is take my car, park at the community center or administrative welfare center, and keep walking. By exploring like this and observing while walking, looking at the atmosphere, checking out the schools, and things like that, I never forget it. While doing this, I use the Naver real estate app to immediately compare prices. Oh, this is the price here, currently it's like this. But here, by imprinting that, I never forget it.

I come to know for sure, so it may be tough like that, but if you walk and see that way, it may not be visible quickly. However, because I can know for sure what I see, I think that way. So, if you are too greedy, it's hard. You have to see a lot, but even if you haven't seen much, it can be tough. Lower your greed a bit today and let's walk a little more clearly. So, if you take it next time, we have a lot of time. If you look at it too short-term, it's urgent. If you think you have to see everything quickly, you'll be stressed, time won't be enough, and so on. So, it's about looking at this for a long time. I mean, I will look at it for about 10 years. While looking at it for 10 years, I will just go and see almost everything in the country. It kind of gives me peace. So, setting priorities there is the key now.

In the same case, why is Seoul Capital Region definitely faster, so just prioritize there. But it's not like you're only going there, later you'll also go to other regions. Look at it like this, then after looking around there, then looking around here, after setting the priorities, you can enjoy it like that. But if we are in a hurry, we can't see many things. On the contrary, but if I have time, I can see a lot. Oh, people here sit in the park next to it, drink tea like that, eat lunch, and can think it's nice for the people living here. It must be very nice because there is a park. There are also exercise facilities here. Oh, if you walk a little, there's also a library. Just go and see the library, then you can see more. Oh, so the people living here understand and are willing to pay the price to buy here.

You know, I find real estate studies the most enjoyable. It has to be fun to keep going. But if it becomes too stressful, thinking that you have to really study, you can't do it for long. Many people around me start off working really hard at first, but later on, they disappear because it becomes too much. I think more than 80% of them are like that. But those who find it enjoyable keep doing it. Oh, that person is still doing it. Because finding out each little thing is so fascinating. For me, real estate studies were really fun, still very enjoyable, and the most fun is when something I didn't know gets resolved. When something I couldn't understand suddenly makes sense, that's the most fun part. If you pursue this kind of fun, it's great. Ultimately, if you do real estate well, you can earn a lot of money.

You know, you can increase your assets and think that there will be so much to study. We study academic subjects to accumulate knowledge, but we cannot increase our assets through that. Real estate, on the other hand, allows us to increase our assets as much as we work hard. Should we study in that direction? Shouldn't we study more about this even if we study? I tend to think like that. When it comes to trading pre-sale rights, let's say there are still 2 to 3 years left until the move-in date. In any case, when trading pre-sale rights, I need to calculate everything up to the remaining balance to be safe. It's risky to only have a down payment. However, when calculating up to the remaining balance, if it's for investment purposes, I need to estimate what the lease price will be at that time. How to predict the lease price in 2 to 3 years and whether it's appropriate to base it on the surroundings at the current point in time.

I'm curious. First of all, it's right to check the overall color of the surrounding apartments. But the important thing is when you move in, the entire lease amount is paid at once. So, you should consider that it will likely drop almost below the market price. It's not always the case, but that's why it's considered conservative. Typically, we often see a premium added to the lease price of the right to sell, about 50% or half of the market price. So, looking at it conservatively, it could go higher. But first, if you don't have enough investment capital, it's not good to proceed. So, you need to be conservative. And if there are many move-ins at that time and suddenly a lot of units become available, the prices could temporarily drop further. You need to consider that aspect. Another constraint is that the lease may not be matched.

You have to give a timing, you have to give a design. Until then, it may not be correct. In reality, there have been times when I couldn't get it right. You have to prepare for that. What I always say is to check on the final payment loan in advance. You can get a consultation in advance for the final payment loan. When is it possible? We have a preliminary inspection. For each apartment, when you go to the site, most of the employees from the first-tier financial institutions are there. So, it's possible on-site, and if you couldn't go at that time, if you ask the real estate near the apartment, they will give you the contact information of a consultation agent. Then, you can take that and ask if the final payment loan is possible in this kind of situation, how much is the interest, they will let you know. It can be done over the phone. It's not possible in person. But what we need to be careful about is that the Debt Service Ratio (DSR) is applied to the final payment loan now, but it's not applied to the intermediate payment loan.

You see, because I took out a mid-term loan, I shouldn't think that I will definitely get a remaining balance loan. Even if a mid-term loan was obtained, a remaining balance loan may not be approved. Currently, stress testing has been strengthened, so it may not be approved. When it comes to a remaining balance loan, I need to have a plan for what to do. So, in this regard, there is a merit in being able to buy a new apartment at a low cost through installment payments. However, there are risks behind it. If I fail to secure a lump-sum deposit, I have to repay the mid-term loan and if I can't repay the remaining balance, additional interest will continue to accrue. It is much higher than the market interest rate, almost coming out in the range of millions of Korean won each time. What should I do if that happens? People who can't bear that end up having to sell at a really low price. This is also...

It could be an opportunity for someone else, and at that time, I can buy a sudden sale again. So, you always need to think conservatively about the right to sell, and you need to check things like loans in advance in case you can't match it with a lump sum. I think those things are quite important. When I check the market, I remember attending a lecture back then, and from acquaintances, they talk about choosing a region and a 30-pyeong unit. If you are looking at a new construction, you can choose within 10 years, setting the period of the market price. There are short-term views and slightly longer views. By any chance, Mr. Sebichi, how long do you think it takes for the current market price to be reflected when setting that period? In fact, just a year ago, in the case of the property I bought, it dropped too much in the early 2023. I wonder if it's okay to consider the market price up to that point, or if there is a more appropriate period for the market price. Nowadays, I just use Naver.

I look at the actual transaction amounts in real estate. How much was the recent actual transaction made for now, and then if you look at this actual transaction amount, and it's listed on Naver real estate, what is the lowest price when sorted by lowest price, and on which floor is it? By looking at that, I compare. So, currently, there are not many transactions happening frequently. When that happens, it's crucial to see how much the transaction is going for. That's why I check that the fastest. Because it's based on actual transactions, it's essential to see how much the actual transaction amount was. So, I think it's most important to see how the current transactions are actually happening, at what price they are happening. You can also check the market price, but it's crucial to see how much the actual transactions are going for, how much the properties are listed for. So, in a way, this can be like this. If the actual transaction, let's say, was around 400 million, actually

There are currently more than 4 properties available for sale. What this means is that people are raising their bids. So, sellers think that the price will go up in the future. However, in this situation, buyers may think that if the price goes up more than the actual transaction price, they might not trade immediately. But as time passes, if a buyer buys at the right price for this property, then it becomes a transaction. Then, the price can continue to rise from there, leading to an upward trend. Therefore, comparing the actual transaction price with the listed price is crucial right now. So, I think I need to take a look at that. Currently, in the subscription market, there is a shortage of investment properties, so when I tried to invest in an apartment among the pre-sale apartments, there were not many listings available within about 5 years because the apartments were already matching the lease and monthly rent.

So, we waited until the second year, but there were no properties available at that time. So, we renewed our timing to the fourth year, and while looking for investment properties, we need to consider if waiting is the right thing to do. When it comes to why things turn out this way, most of the current situations are like that. In areas where jeonse prices are rebounding, when new tenants move in, they say it's expensive because the jeonse price has gone up. However, if we renew, we can increase it by 5% from the original jeonse price, so relatively, it can be cheaper. Therefore, in areas where jeonse prices are rebounding quickly in the Seoul metropolitan area, many renewals are done. So, it can happen like that. If you renew a lot, the properties available for actual move-in will decrease. However, this can also vary depending on each apartment, so it should be considered like that. And if Captain Dokseo

I am thinking about living in a rented house right now with a deposit. If I consider that, I can also consider the fact that it is already rented out. If the existing deposit is included, but the tenant renewed it, but I can sell it. If I have attached it, but when we think about it, if it is renewed, it is lower than the current rent price, so instead of adjusting a new deposit, more money will be needed. You should think about that, but in such cases, there are also properties that are usually offered at a slightly lower price when released, rather than the selling price. It is important to find such deals. But if we search well among those, there might be good ones. I think that's the case. It's not always the best solution to set the deposit high because it can go up now, but later, when my lease contract is due.

When it's said that it's going to expire, it could also go down again. It can vary at that time. If that happens, you could benefit from the reverse mortgage. So, it's not necessarily the right answer to always set the lease price high. It's also good to think with a little flexibility. When I said I'm not burdening myself with a lot of money, if it's lower than the current market price, you could also consider such properties. You could see it that way as well. But now, especially when you look at the current market, those that rebound quickly in the cold weather tend to have a lot of renewals. So, as mentioned earlier, it might be a bit difficult to find properties for actual occupancy. In that case, it seems important to thoroughly review properties with lease terms. Looking at people around me, I see that at first, they study real estate diligently, but after successfully buying a home, they start to think about investing.

It feels like it disappears, and then the will to study completely disappears. Right, at first, when I started studying, I would sometimes feel like this slump was coming. When I don't have money right now and I'm looking at this, I sometimes feel like my energy is draining. Anyway, I can't buy this, so why am I even looking at it? These kinds of thoughts come to mind occasionally. When you made investments, there must have always been such moments, right? So, when you made that investment, I'm really curious about those initial points. Now, as a multiple homeowner, if you want to make a certain investment, you could consider selling one house or something like that to gather money and continue with the next investment. When you first started investing, you probably only had one house and were renting, but how did you move on to the next step?

I was curious if you did that, so even though I read books, there wasn't much detailed information about it. I was curious about how you transitioned without going into too much detail. At first, it was a single house, and there was originally a mortgage on it. However, the mortgage was 60 million won, but I paid it all off in five years. After that, I didn't have any unsecured loans or overdrafts, and I didn't have any debts at all. I just lived like that, using my salary. But later, I decided I needed to start investing. However, I didn't have any seed money. At that time, I just took action from the beginning. How did I do it? I took out a home equity loan using my house as collateral to raise money. That's how I did it, and then later on,

I was late for my house, so I sold the one I invested in later, repaid it, and then sold my house later, secured the seed, and bought another house. But after doing that, I didn't have money again. But at that time, I didn't have a credit loan. But from then on, I started using credit loans. But at that time, the loan interest wasn't as high as it is now, so I could do it well. So I took out a credit loan and bought a pre-sale right. By doing that, it went up again, and I sold it again, so I had more seeds. Then, I raised money from there by taking out credit loans again and investing, and that's how I did it. I also utilized loans and continued to accumulate seeds within them. Later on, I started a business, like an education business.

In business, profits are generated, and then those profits are reinvested. It seems like we combine the seed money and profits for reinvestment. However, if we are just regular employees, it may be difficult to quickly secure seed money because we are not involved in business. In that case, the best thing to do is to save money. It's best to save by cutting unnecessary expenses. Currently, it's not a good market for using leverage. But in my opinion, high-interest rates like the current ones are not likely to continue indefinitely. Eventually, there might be a rate cut. So, if it drops to a level that I can handle, using leverage in that way is also an option. For instance, if I have 100 million, using leverage to either gather another 100 million to make 200 million or using leverage with the existing 100 million, it's a way to utilize leverage.

When you compare making 100 million and combining it to make 200 million with time, there is a significant difference. So, I think it shouldn't be pushed too hard, but if used appropriately, you can reinvest while growing the seed. That's how I see it. Therefore, the perspective of looking at leverage is that it becomes a really good ally if you can handle it in terms of my investment. But if I can't handle it, it becomes a really challenging existence for me. So, I think the most important thing is to use it well without overdoing it. I'm a little curious about the Han River development. I thought Daejang-dong was in Pangyo, but I heard there is also one in Bucheon. Also, there is a Daejang-jigu Samgi New Town in that area. So, a friend said they applied for a subscription there, and I started looking into it. So, how much infrastructure is there in a new town like that?

It takes quite a long time to be created. It seems important for the connection between transportation and the downtown area. I'm also curious about investing in the new city of Samgi, whether that would be a good idea. Most of the new cities like Samgi lack infrastructure like transportation. They are a bit more on the outskirts. If it's such a place, it will definitely take more time because it will take longer to establish the infrastructure properly. Understanding that aspect is important, and you need to participate in the preliminary review and then the actual review later. You need to consider how the housing prices will be determined. There should be some merit in receiving the housing offer. You should consider that when you receive the offer. So, even though some new cities are developing well and have good living conditions, there are many that are not. In fact, there are many existing places that are better.

I don't think it's always the right answer to participate in the 3rd New Town subscription. Even among the existing 1st New Towns, there are certainly good places, and currently, prices are not skyrocketing overall. There are still many areas that are not developed. Even if I invest in such areas, if I buy them well, they will be in a good location like existing ones. Then, since there is clearly demand for those areas, it seems like a good idea to buy them well. Although there may be some advantages to the 2nd New Town, it may take more time. Taking into account that aspect, I think it would be good. Recently, it is said that rental properties near Seoul are rare, and the rental prices have started to rise again. Due to the sluggishness of reconstruction and redevelopment, there is a shortage of supply. Considering these factors, I am curious about your thoughts on the real estate outlook for the second half of this year or next year.

Daring to make such a forecast is too presumptuous. What I consider important is the supply part. Especially now, the supply in Seoul is very low for the future. This is because the construction industry is not doing well, so the amount of permits is low. Consequently, the supply has the most immediate impact, leading to an increase in jeonse prices. Since there is a shortage of supply, this eventually results in an increase in jeonse prices. If jeonse prices go up, what happens next? Currently, sales prices are stagnant, so they can only be pushed up. If this continues, the stagnant sales prices will rise, and so will jeonse prices. That's the logic we are following. However, in order to relieve this situation, the supply needs to increase. But there is no room for such relief, especially in Seoul. That's why.

I think we need to pay attention to this part. So, the ongoing discussion is that due to the shortage of supply, especially in Seoul, there is a continuous mention that prices could rise again. We cannot predict exactly when this will happen, but if the trend of the Jeonse prices continues to rise like now, it will inevitably push up the sales prices. Another point is that the trading volume is still not very high. If you look at it now, it's either below average or not increasing much. So, in order for us to see a noticeable increase, the trading volume needs to exceed the average. It's not there yet. However, trading volume is primarily influenced by sentiment. So, when people start thinking, Oh, it might be a good time to buy a house now, that's when the impact will be the greatest.

It's about the interest rate cut, but one thing about the interest rate is that if you look at the recent news, they say they will probably do it. But there's talk of doing it in the second half of the year, which needs to be confirmed. If the interest rate is lowered for sure, and our country also lowers it, people's confidence will definitely go up. Then, it will be easier to borrow money, and things will be less burdensome. That's exactly what should happen. If that happens, trading volume will definitely increase. When it drops just right, then starting from the farthest point, Seoul will move. People all look at Seoul, so I have to monitor that a lot. We need to keep an eye on things like trading volume and keep watching economic news. We need to keep an eye on when the interest rate will be lowered for sure, and so on. When that happens, Ah, Seoul will definitely rise, and if Seoul rises, it's not just Seoul that will rise, but the one next to it.

I will go to Gyeonggi-do. Right now, people are more interested in the southern part of Gyeonggi-do. But it's not just going up there, couples will move too. So if it goes up a lot there, it won't just go up there, it will also go down. It's about continuously observing that flow. I think that's the most important part right now. It seems quite difficult to find factors that would make prices drop further here. Because especially in Seoul, there isn't much risk of unsold properties. Most of the new properties being offered are doing well. But in Gyeonggi-do, there are many high-priced properties, so there are cases where they are unsold or undersold. But it's not the case in Seoul. Therefore, we need to make a careful judgment for each city in Gyeonggi-do, while it's not the same for Seoul. So, I think it's hard to say that prices will drop further here. In my opinion, the transaction market will remain stagnant, and the jeonse (long-term deposit) market will continue to rebound.

When this continues, the likelihood of it going up seems high, so I think we should keep an eye on that part.

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