Gap Investment
Gap investment.
Jeonse.
Surprisingly many people still don't realize this system thrives only in South Korea.
It's weird when you think about it, honestly.
It's a system that treats a house as collateral for a loan. Both the lender and the borrower seem to come out ahead. You can borrow a fortune at rock-bottom interest rates? You can live in a place without spending a single won of your own money? It took time for people to understand that wasn't the whole story—time that lasted right up until the system itself started to collapse.
"Isn't the guy borrowing the money just cleaning up?"
"Why?"
"Because it's free."
"To think that, you need one very big assumption."
"?"
Subprime mortgages. Back then, no one thought there was a problem—not the banks, not the government officials. There was a reason for that, of course.
Everyone just assumed real estate only ever went up.
Real estate is safe! A loan backed by real estate can't possibly be unsafe. That was why everyone and their dog took out real-estate loans. Then the bubble burst.
Scratch. Scratch.
Jeonse works on a similar principle. You hand over money not because you trust the landlord's credit, but because you trust the real estate itself as collateral.
If property prices crash, that money is gone forever.
Property price greater than jeonse price. Everyone believes that equation can never flip. The landlord carries no risk. That is the only reason a system that looks like pure free money for the tenant can exist at all.
"So it's dangerous, then?"
"Of course it's dangerous."
"You're a really bad oppa, you know that?"
"Just figuring that out?"
"Mmph!"
For now, the trust still holds. That is exactly why I am buying properties and turning them around with fresh jeonse deposits.
Use the jeonse money to buy another property, rinse and repeat.
They call it gap investment. With only a few billion won you can end up holding hundreds or even thousands of units. It inevitably becomes a full-scale business—one that eats up an enormous amount of time and effort. So I decided to install a proxy. A figurehead president. Suhyun.
Slurp. Slurp.
We are in the middle of the handover right now. She is learning while servicing me under the desk.
"If I take it all the way, I can't breathe."
"That's hot."
"Could you stop turning the face I have to post on Instagram into a mess of spit and precum?"
She talks a little too much. The SNS account she said she would start seems to have picked up a decent number of followers.
She's getting me hard again.
I use a woman like that however I want. I grab the back of her head and yank her forward.
Slurp. Slurp.
She swallows me to the root. Even though she must be choking, her tongue and jaw keep working diligently. The training is paying off. Watching her develop the proper qualities of a secretary is almost endearing.
"You look fucking ugly right now."
"Mmph! Mmph!"
"If you posted this on Instagram your followers would lose their minds, wouldn't they?"
My mood always comes first. Even while she grumbles, she increases the suction.
Her throat is clamping down too.
Suhyun's neck bulges outward from the shape of me buried all the way inside. I grip it tightly with one hand. Her vocal cords are probably right there, but I don't care.
Glurk. Glurk.
I use her like a fleshlight. That small head and slender neck seem to exist for exactly this purpose.
"I'm gonna cum."
"Urgh!"
"Swallow it yourself. Don't die."
"!!"
When I tighten my grip, the constriction inside grows stronger. Given the anatomy, that is only natural.
Gulp. Gulp.
A deeply satisfying orgasm. I empty straight into her throat without even passing through her mouth. The muscular motion of her swallowing delivers another wave of stimulation. I come a ridiculous amount.
I just want to leave it in forever.
Thirty-six point five degrees. Body temperature is perfectly optimized for the human body, so it feels peaceful and snug. The fit is ideal—neither too tight nor too loose. A high-quality hole.
Gulp. Gulp.
Even when it gets wet she immediately sucks and swallows it down. No inconvenience for me at all.
"Tired?"
"……."
"You're not dead, right?"
Her eyes have rolled back a little. Suhyun's usual cool, expressionless face is completely ruined—sunken cheeks, lips pushed out like a duck's bill, the corners of her mouth smeared with spit and thick pubic hair. Even her nostrils look ridiculous, caked with snot and the fluids that had backed up while she desperately tried to breathe.
Click.
I take a commemorative photo. If she posted it on SNS it would draw attention—good or bad.
"Haa… haa… I almost died!"
"But you lived."
"You really are a bad oppa."
When I finally slide free of her throat she gasps for air. Fortunately her breathing is still steady.
Slurp. Slurp.
Even after all that, she starts sucking again—this time with a different purpose.
"Hurry…"
She drags her thin lips along the side of my shaft, not for pleasure but to seduce.
She's getting me hard again.
A genius at making a cock angry. But she still doesn't understand her place.
"A secretary."
"Ah!"
"Isn't supposed to interrupt work."
We are still on the clock. A secretary is supposed to be nothing more than a stress-relief snack.
Squish. Squish.
I teach her she is not allowed to cling. Her soaked underwear parts easily; I find the hole without trouble. My big toe digs into the place that itches.
"Ah, that's seriously dirty."
"As long as it feels good, right?"
"Ah! Really, ah—you can't just—"
The familiar tightness and the hot slickness of her juices are the same; the only difference is that the part doing the work is a toe.
Feisty little thing.
Suhyun's face flushes with shame. Modeling and diving into SNS have made her cocky. Being handled so freely should make her angry at the unfair treatment.
"Haa… haa…"
Instead she is getting more aroused. Her breathing roughens and her gaze grows steadily more lewd.
She's in heat.
A face only I get to see. Neither her Instagram followers nor her boyfriend have ever witnessed it. The cool, blank expression collapses. She becomes a bitch in heat who wants cock.
Slurp. Schlick!
She licks front and sides like a dog. Those pretty cherry-colored lips have turned into a cock scrubber.
"I sat you down to learn the business."
"Slurp♡"
"Are you a figurehead president or a pussy president? Hmm?"
She is that desperate. The way she caresses me and the look on her face both scream that she is aching to be filled.
Squish. Squish.
Only one toe is inside her. The walls that squeeze and wriggle around it are clearly under a serious misconception.
The truth is, even this size is enough for her to get off.
At first, just lightly scraping the entrance was enough to make her thrash. An average man's size would have been plenty. Now she prefers it deep. The walls clamping around my toe are noticeably looser than usual.
"Fuck, fuck…"
Her mouth curses while her lower lips stay honest. She wants stronger pleasure. I give her exactly what she wants. When I curl the toe and pull, I hit the sensitive spot.
Psssh!
She comes spectacularly, tears streaming from both eyes and from below while her throat is still plugged with cock.
This is what a secretary is for.
Even the boring paperwork I am working on becomes almost enjoyable.
"Shall we go grab something to eat soon?"
"O-Oppa."
"Hmm?"
"Please eat me here too… please…"
Apparently she never got the chance. She trembles as she fingers her own pussy.
She's completely gone.
I have seen her face when she turns into a bitch many times, but this is the first time I have seen a face that has abandoned being human. She looks ready to do anything as long as she gets fucked.
"Lean against the window and spread."
"W-We're not going to the bed?"
"Then don't."
"I'll do it!"
I had rented a hotel suite—part staycation, part real-estate scouting trip.
And the view is excellent.
Twenty-fifth floor. Floor-to-ceiling glass, perfect for looking down. Of course, that also means someone might look up. She is so deep in heat she has forgotten shame. She plants both palms on the glass and sticks her ass out.
Slap!
Small but springy, a fine ass. Unfortunately the hole between those cheeks is no longer in the same condition.
Did I dig too hard?
Because it was my right foot, the force had concentrated on the right side. That side is a little ragged now. Through the pitifully gaping slit I can see the red inner flesh. I feel a twinge of apology toward Heon-woo.
Thrust!
It still works just fine. In some ways it has even improved.
When you buy something you always check the reviews, right?
Even if the size is perfect, if it is too tight it is hard to use. The feel can be unpleasant. By that standard this is excellent. It has become free-size, and the lubricant flows freely.
"Seriously, ah! Toes are too much!"
She likes it herself. After a few thrusts she is drooling and moaning for real.
There are guys out there who are only toe-sized, you know.
I say something a little too cruel and then make sure she feels the terror of a real cock down to her bones.
Thrust! Thrust!
I pound the deepest part. Her unstable posture gradually collapses.
"Ah! Ah! Euhit!"
Her face smashes into the glass. Even so she desperately keeps her pussy clamped around me.
Wonder if this would make a good Instagram aesthetic shot?
The pleasure side of her emotions would come through clearly. A shot she could never take in ordinary life.
Throb!
I fill her small belly with a generous load of warm liquid. Only then do her legs give out. She collapses into a frog-like sprawl. The gaping hole looks almost pitiful.
Well, as long as she's pretty.
Being a little loose does not tank the value that much. Real estate works the same way. I did not come to this hotel for no reason—even if the view is city rather than the Han River.
"Can you see down there?"
"Heh… heee…"
"The cities look pretty, don't they?"
Daechi-dong, Seoul. As befits one of Korea's wealthiest neighborhoods, it is sleek and polished. New buildings rise everywhere. But one stretch remains conspicuously old and shabby.
Suhyun's hole is already starting to look ragged after only two years of use.
An apartment forty years past completion is bound to look even worse. That is exactly why it is worth buying. The absolute trash of the apartment world. This is the season when bargains you can scoop up for a killing are lying around everywhere.