The legendary auction book that sold every single day for 10 years!
『I Have No Money, But I Do Auctions, Extended Edition』 Released Now!

"I Auction Even If I Have No Money, Expanded Edition" is a revised version of the legendary bestseller "I Auction Even If I Have No Money," which went beyond the auction craze and became popular 10 years ago.
Completely updated in response to readers' continued requests, this book is a classic in the field of auctions that should never be left off the list of recommended books for anyone from beginners to seasoned auctioneers.


Despite the ever-changing real estate market, the author has never left the auction market for over 10 years. At the time of the first publication, he was a "novice at auctions" who had been investing for about 3 years. Now, he has grown into a true "leading expert in the field of auctions in Korea."
This expanded edition includes new and in-depth content, including 10 recent auction case studies, revised tax laws, and the 1·10 real estate measures, in addition to the practical experience and know-how accumulated over the past 10 years.
This will be a great help to novice investors who are confused about where to invest in the recent turbulent market.


★★★ 『I Auction Even If I Have No Money: Extended Edition』 This is what's changed!
- 10 new real-world examples added, including small apartments, villas, and public auction properties!
- Recent tax and real estate system revisions, including the January 10th Measures and the easing of capital gains tax burden!
- Analysis of recent investment trends for corporations, sales, and rental businesses!
- Tips for winning bids on items from public auctions!
- 20%+ profit rate, the latest products are completely dissected!
- Analysis of auction market trends and directions from 2013 to 2024!
- 2-month subscription to the paid auction site Richgo worth 100,000 won, etc.!
- Providing cost-effective interior design tips to save money.

With the number of properties for auction rapidly increasing across the Seoul metropolitan area, the ability to identify good properties among the numerous properties is more important than ever.
I hope that readers who are picking up this book for the first time, as well as those who were impressed by it ten years ago, will enjoy the completely upgraded version of the "Best Auction Book" of 2024.

Although some time has passed since my first book was published, my principle of buying things that are easy to analyze and understand remains unchanged.
However, due to the rapidly changing economy, interest rates, housing prices, and loan interest rates have changed significantly from before.
The expansion pack has improved this to make it more useful for current investments.
Also, unlike a decade ago, I am now a veteran with hundreds of auction cases under my belt.
We have collected impressive examples from our numerous auction experiences and added them to the expanded edition.
At the same time, I have kept the cases I wrote in my first book intact, because the investment mechanism of auction is the same, only the price of the house fluctuates.
Chapter 3 of this book covers basic items from 2013, while Chapter 4 covers more recent items, clearly separating them to avoid confusion.
Please read with the time difference in mind.

--- 「Prologue.
From "If I were to be born again, I would do auctions"

Auction investors are more diligent than anyone else.
The process of finding an item, conducting a site survey, bidding, and making a bid is not an easy task.
To win the bid at a lower price than others, we work diligently to make a little more profit.
After much experience, I have concluded that the profits of auction investors are clearly earned income.
Even if you become a landlord after investing for a long time, it is not much different.
So, let's not forget that we must always devote our time and effort faithfully and consistently.

--- Chapter 2.
From "Why Are People Afraid of Auctions"

The lease was registered and the tenant moved out.
Another tenant moved into this house.
After a while, the house was put up for auction.
Who has the priority right of payment?
Distribution is made only to the previous tenant who registered the lease.
The new tenant has no priority right of payment.
So, you should never enter a house that has already been leased.
There are people out there who haven't received their money, so you can't go in there again.
If you are an auction investor, there are also cases like this.
There are times when you want to win a bid on an item with a ‘lease registration order.’
In times like this, you should check if there are people living in this house.
Empty houses are not very desirable.
If a house is left empty for a long time, it may become damaged.
A house that has spent the winter alone may have problems with its boiler.
I also wonder why the tenant wanted to move out of this house.
Let's check if there is another reason why the other tenant did not move in, such as whether it is simply because they are moving or the tenant has established a lease registration order due to a reverse mortgage.

--- Chapter 5.
All you need to know is this! From the 7 stages of auctions

For corporate business owners, short-term sales are advantageous. If you own multiple houses, the taxes will be too high and it will be difficult.
A corporate business is something that creates another me that is not me.
The biggest advantage of being a corporate business is the transfer tax on short-term transactions.
If an individual makes a short-term sale, the transfer tax is 70%, but for a corporate business, the total transfer tax is 30%.
The total amount to be paid is 30%, consisting of '10% corporate tax + 20% transfer tax'.
There are also many areas that can be addressed with cost.
My salary is also an expense.
However, this cost portion only applies to the 10% corporate tax bracket.
Of course, there are also downsides.
If a corporation acquires a house, it is 12%.
There is no exclusion from the total when imposing the comprehensive real estate tax.
Even if you only have one house, you have to pay property tax.
There is no tax exemption on transfer tax.
In addition, there are the hassles of establishing a corporation and filing VAT returns.

--- Chapter 6.
From "Smart Money Making Methods Only Real Investors Know"

After the publication of my first book, I think many people are curious about what kind of lives my brother and I are living now and what our future investment direction will be.
After several successful auctions, my brother moved to an apartment in Munjeong-dong, Seoul.
While looking at auction properties, I was lucky enough to find a place for sale at a low price and was able to move.
It's a gift from the auction.
This apartment was slated for reconstruction, and my younger brother served as a committee member.
Still active.
I lived in the first house I won for 15 years.
It was great not having to move anymore because of the deposit.
However, the house felt too small for a family of five, including grown children, so they plan to build a single-family home on land in Yangpyeong that they previously won an auction for.
I will happily spend my old age here.

---「Epilogue.
From "To You Who Studied Auction Hard But Hesitated"