If you want to get rich, you have to seize the opportunity!
When everyone is afraid, invest in the world's best real estate!

With the base interest rate hike, the already sluggish real estate market is freezing further.
According to the Korea Research Institute for Human Settlements, the nationwide apartment occupancy rate in January 2023 was 66.6%.
This figure is a 5.1%p decrease from December last year (71.7%).
As the base interest rate rose and borrowing costs increased, it became difficult to secure tenants.
It may be absurd to talk about real estate investment at a time like this.
But to become rich, you have to seize opportunities in the midst of crises.


American real estate is the best in the world.
It is safer than any other asset in the world, and because it is an asset denominated in the US dollar, the world's reserve currency, people around the world, not just Americans, want to hold it.
That's why, when everyone is talking about a crisis, the world's wealthy are looking at U.S. real estate.

The author runs Global Frontier Asset, a U.S. real estate investment advisory firm, based on his experience investing in U.S. real estate.
To date, I have lectured on U.S. real estate investment to over 1,000 people, provided one-on-one consulting to over 300 people, and consulted over 100 people on purchasing U.S. real estate.
Let's start investing in US real estate with this book, which meticulously considers the perspective of actual investors.

The sharp interest rate hike did not only affect Korea's real economy.
In the United States, trading volumes began to decline in some areas starting in June 2022 due to the Federal Reserve's aggressive stance on raising interest rates.
In addition, the won-dollar exchange rate has steadily risen in the wake of the Federal Reserve's high-intensity tightening, reaching its highest level since April 1, 2009 (September 30, 2022).
It is not a favorable time for Koreans to invest in U.S. real estate.
Despite this, we still receive a steady stream of requests from many Korean wealthy individuals for advice on investing in US real estate.
--- p.31

What attracted me most to Hawaii was its prime location, perfectly located between Asia and the United States, the world's largest GDP country, and its reputation as a blue-chip vacation destination with unparalleled natural beauty that money can't buy.
Also, since the demand for real estate in Hawaii, USA is made up of wealthy individuals from around the world, I thought that prices would fall less even if a global financial crisis occurred because they are relatively less affected by the economic conditions of a specific country and there would be demand from wealthy individuals.
As I predicted, there was steady demand from the wealthy even when the global financial crisis began in the US in 2009.
Hawaiian real estate prices declined less and recovered more quickly than in other parts of the United States.
--- p.64

Multi-units are like multi-family homes compared to Korean houses.
In a word, it is America's 'income property'.
Multi-unit properties usually consist of 2 to 4 units, and up to 4 units are considered residential properties.
It looks like a single-family home or a townhouse on the outside, but it actually has one owner.
However, since several households live there, the doors to each household are separate.
It is separated so that electricity, water, and heating bills can be measured and billed separately for each household.
The history of the birth of these multi-units is similar to that of multi-family homes in our country.
The landlord wants to live on the land he owns and rent out the rest of the units.
So, it came into being by splitting up several floors or each floor into 2-3 households and renting them out.
A multi-unit can be considered a variation of a single house.
The difference is that each unit has its own independent entrance, kitchen, and bathroom.
--- p.100

There are tax reporting and payment procedures for income generated from overseas real estate.
If a domestic resident acquires overseas real estate for purposes other than residential purposes, or if the resident or his/her spouse acquires a residential house or leases overseas real estate for the purpose of staying abroad (with a deposit exceeding USD 10,000), he/she must report to the ‘Designated Foreign Exchange Bank Manager.’
Here, the term 'designated foreign exchange bank manager' may seem difficult.
Simply put, for individuals, it refers to the president of their primary bank, and for corporations, it refers to the president of their primary debtor bank.
Those who are required to report and report must be Korean nationals and residents (including individuals and domestic companies), and must not have bad credit or be tax delinquent.
The acquisition price of overseas real estate must be at a level deemed appropriate by local financial institutions and appraisal agencies after reviewing documents related to the real estate transaction.
For this reason, when reporting or repairing overseas real estate acquisition, you are required to submit an appraisal report or sales price list of the overseas real estate.
--- p.182

In the United States, there is a system called 1031 Exchange.
It is also called a 1031 Tax Deferred Exchange.
It gets its name from Internal Revenue Code 1031.
This system allows you to defer capital gains tax when selling real estate.
So, when you buy your next property, you can reinvest the entire sale price of the property.
The biggest advantage of this system is that as long as you continue to buy homes that are even one dollar more expensive, capital gains tax is deferred until the moment you sell your last home, regardless of how many times you buy.
In Korea, people often downsize their investments to smaller properties when they want to reinvest because of the high real estate capital gains tax they pay.
However, the United States can avoid this situation through the 1031 Exchange system.
Additionally, the deferred capital gains tax is paid in the future, so the actual burden is reduced.
--- p.257

As explained earlier, commercial banks in the United States provide loans only to Americans and foreigners who have a steady monthly income (regardless of employment, business, or financial income).
When banks review your loan application, they ask for proof of income for the past two years.
If your income suddenly decreases or increases significantly due to a promotion or job change, you must also provide the reason.
Because the annual income for the previous two years is reviewed in this way, even if the income is high, if you are a new employee or have earned income after a long career break, you may be at a disadvantage when receiving a loan.
Unlike the United States, Korea has a well-developed leave system, including parental leave and self-development leave.
I also took parental leave the year before I took out the loan.
So, there was no income in the previous year.
I explained Korea's parental leave system to the bank and successfully received a loan.

--- p.299