(For more detailed information about this event and to sign up, please click here to visit the meetup event page.)
At this month’s meetup, you will learn another acquisition strategy: how to analyze and purchase pre-foreclosures and brand new apartments before they’re constructed, otherwise known as pre-sales.
With pre-sales, you can buy real estate well below market value with little to no money out-of-pocket by leveraging both bank loans and other people’s money. (See this article for an introduction to the jeonse strategy of investing using your tenant’s money.)
Our speaker is John Choi. He was a corporate bond trader and has extensive experience purchasing bad credit and short sales. Banks would offer to sell John and his company pre-foreclosures, and he and his team would analyze the deals and buy up the best ones before they were put up for auction.
About 5 years ago, however, he quit his day job and now lives off passive income. In other words, he did what many investors dream of: He escaped the rat race!
John’s professional experience has given him a unique insight into the Korean real estate market, and he has used this knowledge to invest in his own portfolio of 15 pre-sales over the past 20 years. At present, he holds 8 properties with a total asset value of $2 million dollars.
Join us on Saturday, April 23 to educate yourself about pre-foreclosures and pre-sales. You’ll also have time to get to know other members better and talk casually in the beautiful 10K City Hall located near Seoul Plaza and City Hall.
Saturday, April 23 from 2 PM to 4 PM
Get off at Euljiro 1-ga subway station (을지로입구역) and go out of exit 8. Walk straight for about 3 to 4 minutes and follow the road round to the left and past Hotel President. 10K City Hall is just past Hotel President and overlooking Seoul Plaza.
10,000 won (includes a coffee or tea from the on-site coffee shop.)
Korean-English Interpretation Service
This presentation will be conducted in Korean, and our in-house interpreter and member, Martin Bax, will provide consecutive Korean-to-English interpretation. Martin graduated with an M.A. in Interpretation and Translation from the Korean-English Department at Hanguk University of Foreign Studies.