Private Equity Fund (PEF) Company (4) – Part 2

Jae-Sik Moon said, "That's right. When we bought those five condos, we took out a mortgage loan of 330 million won, and we have paid for the loan interest with the rent that we are getting by renting them out. It's a successful investment, I would say. I'm thinking of raising the rent for those five condos around next Spring, so we could actually make money even after we pay for the loan interest."

"Hmm, really?

"So, you are getting rent payments from those five condos, and the price of those five condos keeps increasing. You are making good money, President Goo. Congratulations."

"I should have purchased 100 of them, not just 5. Some professional landlords in Korea own several hundreds of real properties. I read a newspaper the other day about an old man in his 60s who owns 300 real properties in Gwangju City."

"Wow, 300 real properties? My dad has never had his own home before. In Korea, real properties are unfairly distributed— the rich have a lot and the poor have none."