Real Estate Tax Planning: Avoiding Pitfalls and Maximizing Profits

Understanding real estate tax implications is crucial for profitable investments and tax savings, especially in redevelopment and pre-sale rights.

### Real Estate Investment Tax Strategies: Avoiding Acquisition Tax and Transfer Tax
* 💰 " Even if it's tens of thousands of won, it would be a waste, but you can go back and forth with **tens of millions or even billions**.
* 🏠 " The first bomb is the **acquisition tax bomb**. Later, the gift tax will **fly away**.
* 📈 " Especially now, there is a **surplus profit in reconstruction**.
* 📝 " You have to bear **all the details of my initial plan at once**. This is the **biggest problem**.
* 🔍 " The problem is that in redevelopment and reconstruction now. Above all, the most important thing is the **speed of business progress**.
* 📅 " Starting from August 10, 2020, pre-sale rights are subject to **acquisition tax as if they were houses**.
* 🏡 " Pre-sale rights are pre-sale rights, and houses are houses. So, how many years do you have to hold onto the pre-sale right until it becomes a house? **2 years**.

Even if you throw it away, there is a way to save it. You probably don't even know that there are ways to save it and you would just pass by. Even if it's tens of thousands of won, it would be a waste, but you can go back and forth with tens of millions or even billions. If you make a mistake, I could get hit by two bombs right now. The first bomb is the acquisition tax bomb. Later, the gift tax will fly away. Especially now, there is a surplus profit in reconstruction. Reconstruction is a redevelopment project in a broad sense, but the perspective is different. So, what's wrong with my initial draft is that in the end, there is a person who moves in. You have to bear all the details of my initial plan at once. This is the biggest problem. So, those who don't like it should go for redevelopment. In redevelopment, that's not the case. Anyway, in the case of redevelopment, there is an issue now. The problem is that in redevelopment and reconstruction now.

Above all, the most important thing is the speed of business progress. What will the maintenance project be? It must proceed quickly no matter what. However, one of the things that hinders this is the presence of weeding. If I am a member of the reconstruction association, then you all need to carefully consider this. The residents who move in have to pay the sharing fee and the weeding tool. I also have to contribute taxes for the increased value of the land. Therefore, you need to analyze the profitability of reconstruction properly. What do we call redevelopment and reconstruction? It's called a maintenance project. The business must be profitable. So, what is the most profitable in a maintenance project? Mix the low price of the development with the general selling price here, and sell what comes out of the general selling price. This is what I am currently implementing. Accordingly, the ratio and everything is calculated, and then...

When you buy the pre-sale rights, what taxes do you have to pay in the future? It's a good question. Well, pre-sale rights are not houses, right? They are not houses. They are just, so to speak, rights. They don't have physical form. But they are included in the number of houses. So, this can be a bit tricky. You have to memorize the dates. Starting from August 10, 2020, pre-sale rights are subject to acquisition tax as if they were houses. But when do you pay this acquisition tax? It's when the house is completed and ready for occupancy in the future. So, it can be confusing. If I buy pre-sale rights now and move in after 3 years, then I pay the acquisition tax after 3 years. But the acquisition tax for houses is determined now. This is tricky. And when it becomes January 1, 2021, then transfer tax is also applied to pre-sale rights as if they were houses. So, if transfer tax applies to pre-sale rights, it seems like a huge tax burden. Transfer tax.

I have one tax-exempt home, and I have two subscription rights. So, although I have three homes, I might easily mistake it for one home. However, when determining tax-exempt transfer tax when buying a home subscription right, they check if you acquired the subscription right after January 1, 2021. So, based on that, they might say, Oh, you have two. Then, does this count as the number of homes? So, a total of three tax-exempt or not? Not. Not. So, you should remember this about subscription rights. Currently, as of August 12, 2020, and after January 1, 2021, there are no regulations related to this. So, if I buy a subscription right now, I might face two bombs. The first bomb is the acquisition tax bomb, and later, the tax-exempt transfer tax disappears. The acquisition tax bomb is when that subscription right becomes a completed home later on.

When is the transfer tax? I have a house, but I bought the pre-sale right. But it goes into the number of houses, right? So, when the pre-sale right is completed as a house later, I have to pay acquisition tax. If I make a mistake at that time, it's a bomb. Now, this is newly built, right? You have to hold onto this new construction for at least 2 years because the period of holding pre-sale rights and houses is different. If I sell it right after it's built, how much transfer tax will I pay? 70% or 60%? Many people misunderstand this. I held the pre-sale right for a year, and after the house was completed, I sold it a year later, so I held it for 2 years. Shouldn't it be the basic tax rate? No, it's not. Pre-sale rights are pre-sale rights, and houses are houses. So, how many years do you have to hold onto the pre-sale right until it becomes a house? 2 years. Then think about it. I wanted

The member who has Bailey has only been a year or a little over two years, not even two years. So even if I sell it now and the price goes up by 10 billion won in the middle, how much is the transfer tax? 70% or 60% If you add local income tax, it's 77 or 66. You can't sell it, you have to wait at least two years to sell it. So when you invest in a presale right, you need to consider the holding period of the presale right and the holding period after it's completed. But if I give it to someone after it's completed and I don't live there, I just gave it away, will that person use the option to renew the contract or not? They will probably use the option to renew the contract. Moreover, since it's a rental unit, the rent is high and low, it's been fluctuating a lot. So, when it comes to the holding period of the presale right, you should aim for at least 4 years, consider it generously for 5 to 6 years before entering. Be careful if you're not planning to make a short-term investment. So, I'll come back now. When I bought the presale right, when this presale right becomes a house.

If you make a mistake, you could face a bomb of acquisition tax, right? So, I originally have one house, right? That could be possible. Then, for example, I have a desire to receive tax exemption. But, in the case of a pre-sale right, whether it is included in the house or not when buying or selling, right? Then, there are only two cases to receive tax exemption between the two. So, if I have one house and bought one pre-sale right, then I have to sell it within 3 years after buying it. But, if I assumed how many houses I have, if I have one more house or one more pre-sale right, it could break or not for tax exemption. Let's ask one more thing. In the video we watched earlier, it was mentioned that when a house is separated in the resident registration, our mother, father, or grandparents who live together have a house. But if that person has a house, it may or may not break for tax exemption. You may luckily pass, but it could break depending on your luck.

I was told not to entrust it to someone else. Well, but many people misunderstand this. The thing is, a right to purchase is not a house. You need to acquire the right to purchase, and within 3 years, you need to sell the existing house to avoid capital gains tax. However, since the right to purchase is not a house, let's say the right to purchase was completed as a house two years later. Then, if there is the first house and the second house, which was completed as a house from the right to purchase at that time, if I sell it within 3 years from that point, wouldn't that be okay? You can think like this. There is one way. If I acquire the right to purchase and sell it within 3 years, it ends neatly. The right to purchase holding period is 2 years, then it becomes a house, and then after 3 years, a total of 5 years have passed, and there may be a time when I want to sell. The only way to do this after the 3 years have passed at that time is that the right to purchase has become a newly built house.

You have to sell this inside, right? But it's not over yet. You have to sell it within 3 years, and the right to develop here will turn into a new apartment. I have to move in and live for more than a year within 3 years. Then, look carefully. I have an old house in Seoul. I bought a property in the countryside to invest in the right to develop. So, if you buy the right to develop in the countryside and sell it within 3 years, it becomes tax-free. Let's think about it again. Do you remember from the video? You have to sell in Yeoksam, Bundang, or Seoul. Whether to sell or not, it may be better not to sell. But let's assume that both are sold to receive tax benefits. However, if someone miscalculates and buys the right to develop and then has to sell within 3 years, but if 3 years have passed, how can they still receive tax benefits? They have to sell it after the housing is completed and move in within 3 years.

I have to live, right? But where is it? It's in the countryside, so I can't buy it. Then, if it rains, it's okay. No, it's not okay. So, the answer is that I will invest in the right to buy a house. I want to receive tax exemption for the original housing. Then when should I sell it? From the moment I buy the right to buy. But if this place is mistakenly considered as a house three years after it is completed, what should I do? I have to live here. Fortunately, if it's close to the metropolitan area, it's okay. But if it's far away in the countryside, I can't live there. If I own the previous generation, I have to give them all. So, this is one of the very difficult contents. The more you know, the more options you have. Even if you throw it away, there are ways to save. Probably, without even knowing that there are ways to save, one might just overlook it.

I think you don't know, but even if it's a few tens of thousands of won, it's a waste. It can go back and forth tens of millions or hundreds of millions of won. If you make a mistake, especially in real estate, you need to know exactly what taxes you need to pay as you build your investment portfolio. If you have a rough idea, you can mention it when consulting with a tax accountant. They will handle the precise details and specific calculations. But you shouldn't be completely clueless. You know about the tax on development rights, right? It's in Article 156-3 of the Income Tax Act. For example, if someone goes and talks endlessly, saying they listened to lectures on real estate investment in a monthly class and invested in local development rights, it's tax-exempt. It's too complicated to handle without knowing.

The client is considering applying for a tax exemption for non-taxable items among the 156 items of income tax law. Would it be possible? Then, the attitude of the person will change, right? It seems like I have studied a bit about this. It's not that I'm studying to drive a car, but I need to know where I am. I need to have conversations with experts. In the last metropolitan area boom, prices soared significantly. Those who invested early must have been happy, but those who couldn't participate felt a significant sense of deprivation. Not only that sense of relative deprivation, but also those who had a really hard time are now joining late and are struggling a lot because they bought at the peak. However, personally, I think that the tough times are almost over. I believe that the situation will improve a lot as early as the second half of this year and maybe next year. So, for those who have already bought, they should wait a little longer.

It would be good if you endure well, and it would be nice if you don't sell it at a cheap price. On the contrary, there are people who buy. From their perspective, it's not like they are buying and selling right now, but if you're going to buy something, it's better to buy something good. As I explained earlier, if you buy it jointly, you can grab a good one right now. That's how you make money. Then, when you go for the second or third time, how to build your portfolio, what taxes are needed at that time, if you know only this, you won't waste tens of millions of won. So, depending on your position, your struggles are almost over. Just endure a little longer. Yes. So, it's good to invest in real estate for tax savings, but why am I making money like this, and what will I do with the money I earn?

I mostly want to achieve financial freedom for myself, mainly for good time management, and spending quality time with family. So, please do not forget about this aspect and focus on it. I hope everyone achieves good results. Thank you.

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Tips for Maximizing Profit in Property Reconstruction and Redevelopment

There are ways to save and maximize profit in property reconstruction and redevelopment projects, especially with the potential for significant financial gains.

One of the key considerations is the speed of business progress, as it is crucial for the maintenance project to proceed quickly.

Additionally, carefully analyzing the profitability of the reconstruction and redevelopment is essential, taking into account taxes, sharing fees, and the increased land value.

Tax Considerations for Home Subscription Rights

Owning a home and subscription rights can impact tax-exempt transfer tax calculations.

Acquiring a subscription right after January 1, 2021, affects the count of tax-exempt homes.

The holding period for the pre-sale right is crucial, requiring at least 2 years before it is considered a completed home for tax purposes.

Tax Exemption Rules for Property Acquisition

Acquiring a pre-sale right and selling within 3 years allows for tax exemption.

The right to purchase needs to be sold within 3 years or developed into a house and sold after 3 years, with the requirement to live in a new apartment for over a year.

Buying a development right in the countryside and selling within 3 years can also provide tax benefits.

Investing in Real Estate: Important Considerations

Investing in the right to buy a house can provide tax exemptions for the original housing, but timing the sale is crucial.

It's challenging to navigate the tax regulations, so consulting with a tax accountant is essential for precise details.

The real estate market's boom in the metropolitan area has caused soaring prices, leading to a sense of deprivation for latecomers, but the situation is expected to improve in the near future.

Tips for Successful Real Estate Investment

Enduring the initial challenges of real estate investment can lead to higher profits in the future.

Investing in quality properties instead of opting for cheap ones can attract more buyers and increase income.

Understanding the tax implications and planning for financial freedom can help investors make the most of their earnings and prioritize personal well-being.