Return To The Building Owner [EN]: Chapter 648

651

A few days later.

Hyun-sung headed to the real estate office run by Yoo Young-chul.

“Hey, Mr. Kim, welcome.”

As Hyun-sung opened the office door and entered, Yoo Young-chul greeted him warmly. Hyun-sung returned the greeting with pleasure.

“Yes, hello!”

“So, what brings busy Mr. Kim here so early in the morning?”

“I’m looking to buy some buildings or land.”

That’s why Hyun-sung visited the real estate office today.

From 2003, four years from now, this neighborhood will be fully developed. That’s when the villa construction boom, which was quite popular back then, will begin. Most of the existing houses will be torn down, and villas will be densely built in their place.

About 80% of the neighborhood will be completely transformed into a villa residential complex, almost a sea change.

At the same time, there will be significant changes in the commercial district. As the population suddenly increases with the construction of villas, commercial buildings will spring up like mushrooms around the roads.

Therefore, two or three years from now, the land and building prices here will increase at least threefold, and in many cases, five or six times, or even up to ten times.

The important thing is that Hyun-sung is the only one who knows this right now.

This is why Hyun-sung is here now.

Yoo Young-chul asked again, as if to confirm.

“Did you say buildings or land just now?”

“Yes, anything is fine. From now on, grab everything that comes on the market in this neighborhood, whether it’s land or buildings.”

“Everything?”

“Yes, everything.”

Since buying now guarantees at least a threefold profit, there’s no need to be picky if you have enough funds. It’s a guaranteed profit anyway.

However, it’s not just about the money.

There’s another reason. Back then, the people who bought land or buildings in this neighborhood were 100% construction business owners. They were the house-flipping merchants.

They randomly bought land, built buildings, sold them off, and left.

The problem was what came next.

Without any planning, numerous construction companies hastily built villas and commercial buildings individually, turning the neighborhood into a mess.

The names of the villas were different, not to mention the shapes and number of floors of each building. As a result, instead of feeling organized, the neighborhood became strange and unsightly.

Of course, the residents living in the neighborhood ultimately bore the brunt of the damage.

The biggest problem was the parking situation.

At that time, the building codes allowed construction permits without requiring parking lots. As a result, even if there were more than ten households, there were only two or three parking spaces.

It wasn’t just one or two buildings; all the commercial buildings and villas were like that, so what would happen?

With many households but no parking spaces, the result was obvious.

Eventually, the entire neighborhood became a parking war zone every evening after work. Even the main streets, not just the alleys, had to be circled several times to find a parking spot after 7 PM.

As a result, after a few years, this neighborhood was labeled as a difficult place to live due to parking issues.

This was another reason why Hyun-sung visited the real estate office today.

He wasn’t just aiming for capital gains but also wanted to participate directly in development. He wanted to prepare in advance so that the neighborhood wouldn’t be labeled as a difficult place to live.

However, Yoo Young-chul, who had no idea about this, looked at Hyun-sung with a puzzled expression.

“Are you saying you’re going to buy up this entire neighborhood?”

“If possible, that’s what I’m thinking.”

“Of course, I know you have the means to do so, but is this neighborhood worth investing that much in?”

It was a natural reaction for Yoo Young-chul. It was still an underdeveloped neighborhood, and it was uncertain when it would be developed.

In any case, construction companies would start buying land and buildings in two years.

“I’m preparing in advance.”

“In advance? Does that mean you heard some information from somewhere?”

It wasn’t information but something he knew because he had already lived through it. However, he couldn’t tell him that fact now.

“It’s not that, but wouldn’t our neighborhood be developed someday?”

“Something’s fishy.”

“What do you mean?”

“What you said to Mr. Shin when you bought the bakery building last year. I clearly heard you say, ‘Let’s meet in five years.'”

Of course, he had said that to Shin Myung-gu, the owner of the bakery building, back then. However, he didn’t want to bring up that story again in this place.

Hyun-sung knew that the best policy in this situation was to pretend not to know.

“Did I say that?”

“I’m pretty sure I heard that back then…”

“Well, I don’t remember well… Anyway, that’s not important now, so let’s move on. What I’m curious about is the properties for sale in this neighborhood.”

“Hmm… I see.”

Yoo Young-chul seemed to think for a moment and then nodded immediately. He probably made that decision because the most important thing for him right now was the properties for sale that would bring him brokerage fees.

Hyun-sung continued.

“How many properties are currently on the market in this neighborhood?”

“Wait a moment.”

Yoo Young-chul began to rummage through his ledger diligently. His eyes were shining brighter than ever. He was probably busy calculating brokerage fees in his head.

After a while.

Yoo Young-chul closed the ledger and opened his mouth.

“There are 12 in total. Three of them are commercial buildings, and the rest are all regular houses.”

“I’ll buy all 12 for now, so please proceed immediately, and grab all the properties that come on the market in the future.”

“Alright. I’ll contact the sellers today and try to expedite the contracts as quickly as possible.”

“Yes, I understand. And…”

Hyun-sung got up from his seat and walked to the map hanging on the wall. Then, pointing to the map with his finger, he continued.

“If possible, I’d like you to meet the commercial building owners on both sides along this main road and persuade them. Would that be possible?”

“All the commercial buildings?”

“Yes, if possible, I’d like to buy all the commercial buildings here, even if it means paying more than the market price.”

If he hadn’t started, it would be one thing, but since he was going to start, Hyun-sung wanted to do it properly.

However, Yoo Young-chul, who had no idea about Hyun-sung’s plan, looked at Hyun-sung with a slightly bewildered expression and continued.

“Heh, are you really thinking of buying all those commercial buildings?”

“Do you think I’m joking?”

“Of course not, but I think there are too many.”

“If I had my way, I’d like to buy all the houses and commercial buildings in this neighborhood.”

He was serious.

If it were possible, that’s what he wanted to do.

Since it wasn’t a project that the government was planning and undertaking systematically, the aftermath was too great after all the development was completed.

If he participated directly in the development, his goal was to at least prevent the parking war that occurred every evening after work due to the lack of parking spaces.

Yoo Young-chul looked at Hyun-sung and nodded.

“Alright, I don’t know why, but it seems like my job is to secure as many buildings and land as possible in this neighborhood, so from this moment on, I’ll do whatever it takes to secure properties. Mr. Kim, come to the office as soon as I contact you.”

“Yes, I will. And as I mentioned earlier, I’d like you to pay special attention to buying all the commercial buildings along the main road, if possible.”

“Alright, anyway, if those commercial building owners are offered a reasonable amount, they won’t stubbornly refuse to sell.”

“Then I’ll trust you, Mr. Yoo, and wait.”

Hyun-sung bowed and was about to leave the office when…

“Wait a minute!”

Yoo Young-chul suddenly called out to Hyun-sung, who was about to leave.

“Is there anything else you’d like to say?”

“I’ve been thinking about it, and I’m curious about something, so can I ask you just one question?”

“Yes, go ahead.”

Hyun-sung answered as if nothing was wrong. Then, Yoo Young-chul didn’t ask immediately but seemed to think for a moment before slowly opening his mouth.

“Five years, no, that was based on last year, so now there are only four years left, right? What’s going to happen in this neighborhood in four years?”

“Pardon? What do you mean by that…?”

“I may not look like it, but I have a good intuition. Mr. Kim’s movements seem unusual.”

Who was Yoo Young-chul? He had been running a real estate office for over 20 years. So, how could he not have a feeling?

Moreover, Hyun-sung had directly mentioned five years when he bought the bakery building last year, so he couldn’t help but be obsessed with that number now.

Smirk.

Hyun-sung smiled and immediately opened his mouth.

“Think whatever you like.”

“What does that mean?”

“Just imagine as much as you trust me, Mr. Yoo.”

“As much as I trust you…”

Yoo Young-chul repeated the words and seemed to be thinking for a moment, without saying anything.

After a while.

A smile spread across Yoo Young-chul’s face, and he continued.

“Thank you.”

“Pardon? Thank you?”

“Yes, I trust you.”

“What does that mean?”

“It means I believe that what you said wasn’t empty words. Eventually, it’s about four years later. In four years, this neighborhood will…”

Yoo Young-chul stopped talking and smiled. In the end, he hadn’t missed the words that Hyun-sung had said in passing.

After a while.

Hyun-sung left, and Yoo Young-chul was left alone.

He quietly began to examine the map hanging on the wall.

About ten minutes passed.

“Here it is!”

Yoo Young-chul pointed to one spot with his finger. The place he pointed to was one of the few places where the land price would increase tenfold in four years.

“Thank you, Mr. Kim! Hahaha…”

Yoo Young-chul began to laugh loudly, as if he was satisfied.

***

The real estate acquisition proceeded smoothly. The commercial buildings and houses that were on the market were immediately purchased in just three days. Since they were already on the market, there was no need to delay.

The problem was, of course, the commercial buildings along the main road. However, in the end, the issue was money. When they offered 1.5 times the market price, 70% of the building owners agreed to the deal. Since they didn’t expect 100% success from the beginning, this was a satisfactory level.

However, he couldn’t help but be greedy.

Yoo Young-chul, who knew his feelings, opened his mouth.

“Wait a month.”

“Do you have any special measures?”

“In the end, isn’t it about money? If we wait a little longer and offer twice the price, those people will have no choice but to sell.”

“Do you really think so?”

“Just trust me.”

It was the moment when Yoo Young-chul’s shoulders gained strength [became more confident].

As expected.

Contact came from Yoo Young-chul in less than a month. As he said, they were able to purchase most of the remaining commercial buildings by offering twice the amount.

Now, only 10% remained.

Hyun-sung gave up any further attachment. Those people were the ones who hadn’t sold their buildings until the end in his past life.

“Let’s end the commercial buildings here, shall we?”

“Are you saying you’re giving up on the remaining commercial buildings?”

“Those people will never sell, even if they die.”

“If we offer more money…”

Yoo Young-chul looked like he still had lingering feelings.

Hyun-sung shook his head as he looked at Yoo Young-chul.

“There’s no more meaning to it. The commercial buildings are enough, and from now on, target the general houses [regular residential houses].”

“It’s still a bit of a shame…”

“No, it’s okay. We’ve achieved our goal sufficiently.”

“Alright, if you say so, I’ll give up any further attachment. By the way, what are you going to do with all those commercial buildings?”

Yoo Young-chul stared at Hyun-sung with a curious expression. That’s because the total number of buildings Hyun-sung had purchased so far was 56.

“I’m going to rebuild them all.”

“Are you saying you’re going to demolish all those buildings?”

“Yes, that’s right. I’m going to turn 56 buildings into 10 buildings.”

“Buildings?”

“Yes, I’m going to build them all to be 10 stories high. The first three floors will be for commercial use, and the remaining floors will be for personal living spaces. Of course, there will be parking lots up to three floors underground.”

“Heh…”

Yoo Young-chul couldn’t imagine it at all, so he couldn’t help but let out a hollow laugh.

He opened his mouth again.

“The neighborhood will be completely changed?”

“It will probably be one of the top three places in Incheon [a major city in South Korea]. I plan to completely solve the parking problem in particular.”

“The villas as well?”

“Yes, that’s right. So, from now on, please purchase residential areas.”

“Alright, I understand.”

Yoo Young-chul looked at Hyun-sung and nodded. His expression was still bewildered, as if he couldn’t believe it.

It was then.

Beep!

Hyun-sung’s cell phone rang.

“Hello.”

-Hyun-sung… it’s me.

A trembling voice, it was his wife, Yoon Ji-soo’s voice.