Global Properties – The Test Site is Live
For a few weeks now, we have been developing an international investment site where people can invest money in new construction projects along the P2P model. iExperienceKorea has already posted a couple of articles that outline how that investment model works, and its advantages.
Just the today, however, we finally launched the beta version of the test site live as an extension to iExperienceKorea. You can see how it works at the following address. GlobalProp
Currently, the listed projects are all simply for testing the system, and the programming to show the project descriptions well is not yet complete. We will add image upload in the coming week, along with the expected project duration and the final details. But for now, feel free to create an account, log in, and play around with the program.
In the coming weeks, as the programming phase comes to completion, we will be loading up three real projects. One of them is a coffee / sandwich shop that will be built near Gwandong University here in Gangneung city.
The second investment opportunity involves a situation that is unique to Korea. Korea has a first time home buyer’s program where citizens pay about $100.00 per month into a government fund. Then, when a government apartment project comes along, the citizen can bid on an apartment in that project, get into it for low down payment, and occupy the living space for a few years. Then, they can pay an additional minimal amount and gain total ownership of the property from then on, and the government’s involvement ends.
It turns out that the apartments which will be used as the Olympic Village are set to work with this program, but it is actually much better than normal. The apartments are bigger and better, and the requirements for purchase are more favorable than usual. The deadline for application is in May and that opportunity is a really good one. Stay tuned to Global Properties to see the project description within a month or so from now.
The third project is an improvement to an existing property in Wonju. A farm needs an outbuilding, and we are using a unique new building method to erect it. The quality of the specified wall systems are high, but the price is low because they use thin-wall concrete and fiber instead of auxiliary sheeting. We can erect all the walls with the plumbing and electrical installed in a 1,000 sq ft structure for under $700.00 USD in material cost.
This works so well because the walls are laid up in molds which give them an attractive textured appearance, and they come out nearly finished. Labor is next to nothing and they are modular components, so erecting them is just like stacking legos. This construction method will bring the construction cost of quality buildings down, increasing the profitability, not only of this project, but of more to come.
Stay tuned as the programs roll out. Check back in a couple of weeks to see how things are progressing.