Sang Min Lim, the founder of Sang Min Lim Law Firm and Sang Min Lim Real Estate, knows the ins and outs of the property investment markets in California and Nevada. And more importantly, he knows ways for recent immigrants to enter the dual markets in ways that are relatively low-risk yet high-yield.
The Korean entrepreneur, whose name is 임상민 in Korean and 林相旻 in Chinese, is both a real estate agent and lawyer who made a name for himself in the U.S for helping clients to buy and sell both residential and commercial property.
Today, he helps other recent Asian and international immigrants enter the property market in the U.S. He grew up in Seoul, South Korea and moved to the U.S. to attend Brown University, which is one of the Ivy League universities. After graduating with an undergraduate degree in Economics, he saw his future on the west coast and relocated to Los Angeles to attend the University of Southern California (USC) Law School.
Once on the sunnier coast, he discovered a passion for the red hot property market in California and soon earned a real estate license in the state. This new interest led to him focusing his law studies on real estate law. Today, he is a practicing lawyer in both California and Nevada, helping his international clientele navigate complex real estate deals in both states.
Here, he offers his best advice for getting into these rising property markets in the coming year.
Do Your Research
The entrepreneur suggests learning as much as you can about the larger markets you are interested in, as well as each property you consider. This research can include online searches, reading real estate publications, asking your agent, and visiting the properties yourself. You can even ask relevant questions of the neighbors and those living in the vicinity.
For the clients he works with, Sang Min Lim uses his expert knowledge of online marketing platforms to both research properties his clients are considering, and publicize those his clients are selling. Due to his industry connections, he can highlight his properties on the region's best listing sites and be featured in national magazines and online publications. It is always his goal - and should be yours too - to get saleable properties in front of the largest buying audience possible.
The business founder noted that the more information his real estate buyers and sellers had, the better their dealings are and the more value they get for their money.
Find an Understanding Agent
Sang Min Lim focuses on working with immigrants entering the property market because he was once one himself. For this reason, he feels that he deeply understands their needs and empathizes with their goals.
"I learned a lot about how hard it can be to step into a culture that isn't yours and try to figure out what to do and how to live in a way that will help you build a good life," he said.
He knows that his clients may struggle with the finer points of the English language and American property laws, and offers all the support that they need. He advises buyers that are new to the country and looking to enter the real estate arena to also find someone who has been in the same position. He focuses on making sure his clients understand the details of each deal and feel comfortable and secure in handing their hard-earned money to Lim and his company. A lot of his clients hail from Korea and China and are new to the U.S.
Does this sound like a niche market? You might be surprised. He noted that residents with Asian roots make up a full 10% of the population in Los Angeles County and 7% in Las Vegas - figures that are growing every day.
Work With Experts
Though working with someone that understands your needs is valuable, that person also has to be an expert at what they do to navigate tricky markets and complicated property deals.
Finding a firm that can offer dual services can also save you lots of headaches. For example, Sang Min Lim's firm is multidimensional since they specialize in buying and selling both residential and commercial real estate through Sang Min Lim Real Estate, which is associated with respected real estate brokerage firms like Berkshire Hathaway Home Services and Keller Williams Realty.
His firm is not only multicultural, but multifaceted too since they combine real estate and legal services with Sang Min Lim Law Firm. This means they can act as both your real estate agent and real estate lawyer in transactions. If you can find a dedicated and versatile real estate professional like Lim, it's almost assured that your entrance into the U.S. property market will be smooth and successful.
About Sang Min Lim
Sang Min Lim is an Ivy League graduate, lawyer, business broker, and real estate agent. He is the owner of Sang Min Lim Law Firm and Sang Min Lim Real Estate. He is a real estate agent licensed in California and Nevada, and an attorney licensed in California and Nevada. The entrepreneur was admitted to the California State Bar and Nevada State Bar after passing both exams on his first attempt. For real estate consultations in the Las Vegas, Los Angeles County, and Orange County areas, please contact Sang Min Lim.
