|▲ Number One Realtor / CEO Sungsik Park|
Sungsik Park, CEO of Number One Realter, was born to a poor family as the last son of 5 siblings. He lost his father in his early age and grew up under his widow mother's hard earned money. So it was not surprising that one great lesson he learned throughout his life was importance of money. He was determined to do nothing else but do whatever it is that can make money. "Born poor is not your fault but dying poor is your fault" was his driving force.
Discharged from the compulsory military service, he started working as a waiter at a night club and worked for 16 hours a day and earned 30,000 won ($25) a day. Within 5 years, he opened 4 bars and enjoyed the good time. In 2011, the business came to unprofitable and he wrapped it up and decided to fulfill his long time desire for academic achievement. He chose to major in real estate management, continued the study and obtained a doctoral degree after 10 years in 2022.
"One thing I realized all those years was that running a store requires my own time and labor to make money but running a business requires more of other people's time and labor to make money" says Park.
Equipped with knowledge in real estate, statistics, tax laws and management, he opened a real estate business in 2014. Alongside the opening the business, he provided a free real estate pricing analysis for those who want to make money from real estate investment.
"Many people put their money without proper knowledge and data but with their unproven feelings. The reason I started the free analysis is to make them realize how risky it is to put money without logic and analysis."
According to Park, he was the one who started big data-based real estate analysis. Not surprisingly, many prospective investors were convinced by his analysis and it led him to open Number One Realtor Academy in 2016.
Park points out 2 reasons why many people cannot be rich: first, they do not know how to make money and second, they are not sure.
"I've been asked many times how they could make a lot of money. To answer the how, I recommend you to use money from the government, banks or investors as you are almost always short of money. In order to do that, he continues, you need to develop ideas, carry out market research and choose a business you want to do based on scientific data and analysis. This way, you can make sure of your business and thus persuade investors."
To deliver his knowledge and experience in a more comprehensive way, he currently is writing a book <Doctor Park's Money Making Skill> and it is set to release June this year. In the book, he gives his insight on why real estate is a low risk high profit market among stock, bond, raw materials and foreign currency markets. But again he emphasizes study and analysis before putting your money in the real estate market.
"Real Estate Service Promotion Act will allow large companies' entering the market. What this means is that large companies will likely provide all-inclusive services like realtor, interior and building at one go. In other words, a successful realtor must convince investors that they can make money from their investment or the realtor is likely out of business." <PowerKorea>
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