▲ Good Neighborhood / CEO Park Jin-ki

Turning your value into money

Investing in real estate with growing pains

Good Neighborhood (CEO Park Jin-ki) is an investment corporation that specializes in house flipping. CEO Park, originally an engineer unrelated to real estate, started at the bottom and joined a foreign conglomerate and even dealt with overseas sales. He always lived a busy life and saved seed money diligently. He read a book one day and thought, “Why was I wasting my life?” He quit his job when he realized that his value was not being exchanged for money, only time spent on work was being exchanged for money. He came across real estate during looking for a way to find his own value. CEO Park became interested in real estate as the price of the house he lived rose. He bought a house in return for his work, but seeing the house price rise in an instant, he felt emptiness rather than joy. He says the growing pains have led him to this point. After that, he hid himself in a secluded place and went his way for three months, acquiring professional knowledge through books on real estate and investing.  

Increasing the value of your real estate

Increasing revenue by changing purpose

Among the real estate investment methods that are popular in foreign countries, there is an investment method called ‘house flipping’. House flipping is a method of buying an old house at a low price, repairing it, and then reselling it in a short period of time to leave a high income. This method is so popular that more than 10% of homes sold in the U.S. in the fourth quarter of 2018 were house flipping. CEO Park remodeled the studio flat into 1.5 rooms with temporary wall construction to create a cozy space by simply fixing the interior. As a result, the purpose of the room itself was changed, and the value increased, and a corresponding amount of profit was obtained. However, he says, it is not enough to simply change the structure of a room. Profiting from changing the purpose of a room is due to the corresponding demand. It is necessary to analyze the trend well and figure out how to change and remodel it. In addition, it is necessary to break away from the stereotype that a residential building should be a residential building. If there is an office studio building with a good view, it can be turned into a business building such as a motel. CEO Park’s strategy for success is to throw away stereotypes and fear of investing, but not be swayed by emotions and conduct a thorough investigation of the surrounding area and change it to the one people want. 

Face-to-face lectures on real estate

To become a good neighbor through donation

CEO Park is also conducting face-to-face lectures on real estate investment. The real estate lecture curriculum focuses on understanding the fall of money value and inflation, and real-world investment cases. In addition, lectures on real estate investment using corporations, business management, and the chief officer’s mind are mainly held once or twice a month in Busan so that people learn practical investment methods and not be deceived. The ultimate goal of CEO Park is to establish a social welfare foundation, donate to neighbors in need, and spend his life doing volunteer work. To this end, Good Neighborhood is still donating to the elderly living alone in Busan. Park says “When I came to Korea after working abroad, there were many low-income people in the neighborhood. It’s a very beautiful neighborhood, but I was shocked because the neighbors were still burning briquettes, so I thought that I wanted to make money and light up this neighborhood. I haven’t done much yet, but I want to raise the amount and donate more to children from low-income families.”