Monday has come.
It was the first coffee time in April.
Today, deputy Hong spoke first.
" viable presidential candidate Ahn Cheol-soo and Moon Jae-in, former representative, former representative to be narrowed down to. That's what the poll says."
"When is the date of the presidential election?"
"It's May 9."
"Today is April 3rd, so I think we have a little more month left."
" That's right. Today, Moon Jae-in and Ahn Cheol-soo's share price tumble. "
Jang looked at Hong with a smile and said,
"It's already unusual for Mohenz and Zaigle to move."
"Mohens and Zaigle?"
Mohenz Inc is Moon Jae-in Saemangeum of platforms, stocks. Uidang-myeon the people and Ahn Cheol-soo is jaigeul a spokesman for the presidential task force I go there. "
"Did you go to Zaigle's president?"
"He said he was appointed outside director of Zaigle. That's why I've been transferred."
I laughed inwardly.
Even if he went as an outside director, he would emerge as a theme stock.
This time, Song said.
"It's a problem because there are a lot of people who pay their debts and are obsessed with themed stocks. We've got 7.24 trillion won in debt and equity loans."
"Do you have that much credit?”
"I guess he thinks he has no other way but stocks to make money because the economy recession. Stocks are where you lose money if you do something wrong."
This time, Chung said.
"The recession seems to be right. Sales at convenience stores are rising, but sales at department stores are the same. Department stores have been selling at 29 trillion won for five consecutive years since 2012."
I smiled inwardly again.
If the economic recession increases household debt, it will not be able to raise interest rates recklessly.
Moreover, a lot of money was likely to be released from the presidential candidates' commitment.
[Hahaha, if we don't raise interest rates, there's no way for real estate to go up. It's still going up slowly.]
I spoke slowly.
"I think it's time to invest in real estate. If you don't have a home, please buy a house even if you have a bank loan. If you already have a home, try expanding it."
Hong protested.
"The population is shrinking and the number of single-person households is increasing. Do you want me to buy a house?"
"Housing prices are also determined by supply and demand. We're not going to sell houses in the uncomfortable areas, but we're going to have a lot of good ones."
Jang nodded with his arms folded, and Hong tilted his head.
Assistant Manager Kim Hyung-sook spoke.
For your information, as of April 2017, the average sale price of apartments in Seoul was announced at 617 million won. The average selling price of a row house is 260 million won. It's only 43.4% of the average apartment price."
Zhang said as he loosened his arms.
"If I buy a house, I'll have to buy an apartment. Over the years, the average sale price of a row house may fall further than 43 percent compared to the average sale price of an apartment."
I said heavily.
"If you buy a house, buy an apartment if possible."
The next morning, Assistant Manager Kim Hyung-sook took all the registered copies of 50 apartments in Gangnam and came to me.
I checked the copy of the register.
All ownership had been transferred to JS Development.
"Good work. And... ...will you make me a statement of financial position for the first quarter of this year of JS Development?"
"It's in the accounting program, so I'll get it right away."
I visited the head of the main bank in Yeouido with the documents given by Assistant Manager Kim Hyung-sook.
The branch manager was a newcomer. He looked in his early fifties.
"I'm Choi Joon-sik of J.S. Invest."
"Oh, J.S. Invest. I was going to say hello, but you came.”
"You're welcome."
"But you're quite a young boss."
I exchanged business cards with the branch manager.
"Where did the branch manager go first?"
"You've gone to the Jamsil branch."
A pretty-looking bank girl brought me coffee and gave it to me.
"You have a lot of mortgage loans these days, don't you?”
"You are welcome whenever your collateral is clean. Moreover, JS Invest is our key customer."
"I'm not here for JS Invest, I'm here for JS Development, a separate corporation."
"Oh, you're also the CEO of JS Development."
"We have a separate representative director. I have a stake here."
"Is it a private equity, not a corporate investment in JS Invest?”
"Yes."
"Oh, I see. Have you brought any financial statements?"
"We don't have an audit report because it's just been established. Instead, I have a statement of financial position for the first quarter of this year."
Then I gave the balance sheet to the branch manager, which was drawn by Assistant Manager Kim Hyung-sook.
The branch manager, who was looking at the balance sheet, opened his eyes wide.
"Do you have so much assets? That's 100 billion."
"It's a real estate rental business, so our sales are small."
"It's blank with no liabilities, but it seems to be missing."
"There are no liabilities."
"You don't have a fan?”
Then the branch manager raised his head and looked me in the face.
[What's on my face?] Why are you looking so bad?]
The branch manager's eyes glowed in the gold-rimmed glasses.
How does this young man have 100 billion won in assets without debt? There was a look in his eyes.
The young man seemed to think he was either a son of a conglomerate or a illegitimate child of a conglomerate.
said the branch manager with a smile.
"It looks like real estate because they're all fixed assets."
"That's right. It's a real estate rental business, so it has to be real estate. Here's a copy of the register."
Then I presented a certified copy of 50 apartments.
The branch manager gave a rough look at the copy of the register.
"I think all real estate is apartments."
"Yes, they're all apartments. The owner is JS Development, and there is no mortgage."
"Oh, it's all apartments in Gangnam."
"Yes."
"The address is mostly Banpo-dong or Daechi-dong."
"Yes."
"Amazing."
The branch manager went over the papers again.
Then he turned his head and said,
"How much are you going to spend?"
"How much would you like to extract to the maximum?"
"But what are you going to do with such a large loan? Aren't you paying off your personal debts that have gone into the establishment of a corporation?
"That's not true."
"Then it must be for reinvestment."
"That's what it looks like."
"The registration status is clean, so we can do up to 40 percent of the real estate market price."
I shook my head.
"I've heard that a rental company spent up to 80% of its Loan To Value Ratio (LTV) on mortgage loans. I also heard that DTI (Debt To Income) is free. Will 80% of the real estate market be possible?"
"Hmm."
The branch manager seemed to be pondering.
A long time later, the branch manager took his mouth off.
"Then why don't we do 40 percent at our bank and the rest at our subsidiary Capital?"
"I don't do that. What's the interest on Capital, the second financial sector? It's hard to pay interest on our apartment rent."
"Hmm."
"Then I'll look elsewhere.“
Then I packed the documents one by one.
The branch manager asked again.
"Will you buy the apartment again if you reinvest in the loan amount?"
"No, it's a building this building."
"You're buying a big building, aren't you?"
It's a 300 billion won building. It's a joint acquisition with a foreign private equity firm."
300 billion?"
The branch manager's eyes were round.
Woods & Moore, a U.S. private equity firm, offered 280 billion won for the building, but I lied about 300 billion won.
"We'll invest in each other and the rest will finance the building."
"Well, why don't you talk to us about the building's loan, too?"
"You want to introduce me to a capital company? I don't do that."
"Come, sit down for a second. Well, I'll have a discussion with the head office."
Then the branch manager called someone.
"Assistant Manager Kim! Come here for a moment!"
A pretty woman came again.
"If you have a cold drink here, give me another drink."
"Okay."
A pretty woman brought a cool cider.
The branch manager took a sip of cider and came up close to me and said,
"If you're at work, I'll contact you. Please give me the documents you brought. We were told to cut back on loans, but we'll discuss it again with the head office."
"Well, I don't know."
"I heard from my predecessor that J.S. Invest is a blue-chip trading company. I'll do my best."
The branch manager in his 50s was in his 30s, but it was hard to refuse.
"Then I'll leave the documents behind. I understand you can't stay in touch in three days."
Then I drank all the cider in front of me.
When I left the branch manager's office, the branch manager followed me to the bank entrance.
And bowed at a 90-degree angle.
"Then take a look."
The customers sitting in front of the bank's window stared at the branch manager and me.
Seeing the branch manager greet you like that, you must be a VIP customer, right? It seemed to do.
I came to the office.
As soon as I sat in the chair in the president's office, Assistant Manager Kim Hyung-sook I came in with green tea.
"How'd it go?"
"It'll work out. We're going to discuss it with the head office."
"It's probably because you have a lot of loans, isn't”
"I refused because I said I would lend only 40 percent of the real estate market, and the rest would be supported by Capital."
"A capital loan must have a high interest rate.”
"That's why I said I would resolutely consult with others. Who do you think your children are? Is that the only bank branch in South Korea?"
"So you came back?"
"He says he'll discuss it with the head office only then."
Assistant manager Kim Hyung-sook quickly changed the subject as she seemed to look at me with respect.
"I left the document because you told me to leave it, so will it be okay?"
"Yes, you can re-pull the documents. The copy of the register is a copy."
"Well, that would be fine."
"Mr. President.... But are you really willing to take over the building jointly with Woods & Moore?"
"Nope, I'm thinking."
"Assistant Manager Choi Yu-na kept asking me, so I'm telling her."
"But... Let me ask Mr. Kim. If I take over the building with Woods & Moore, there will be a real estate management company funded by JS Development. Then we have a problem with who we should send to the management company president."
Assistant manager Kim Hyung-sook looked at me with a nervous face.
I laughed and said, "I think assistant manager Kim's face is too stiff."
"It's not urgent, so I'll take my time."
When assistant manager Kim left, a call came from the bank manager whom we met a while ago.
"We are in talks with the head office about a loan from JS Development. By the way, JS Development has a CEO named Kim Hyung-sook."
"Yes."
"Then you may need a guarantee for this person if you exceed the limit at the time of your loan execution."
"Yes?"
"That would be the same for any bank."
"I understand."
After hanging up the phone, I pondered.
[Assistant Manager Kim Hyung-sook's face is going to harden again. I guess I'll have to give you a Favor.]
possibility of loan