Is there Really Real Money in Virtual Real Estate?
Most all of us have heard how Anshe Chung became a real world millionaire by becoming a real estate mogul in Second Life.
I found this article yesterday, maybe I will wish I found it earlier, because my partner and I just invested in an island from Linden Lab. Our first! It is our intent to landscape it nicely and sale the land in various parcel sizes to residents who would like to live in a nice peaceful residential area.
Anshe owns over a hundred islands, and those were before the big price increase, and I am sure is doing quite well financially with her virtual holding. The Question I am now asking myself is: How well can someone just starting out in estate management fare?
Of course this is a new experience for both my partner and I, and really do not have much of a clue just how little profit there is in attempting to develop an area inside Second Life.
Although mainland property went kind of through the roof for a while, Linden Labs has been adding a whole new continent in an effort to stabilize the virtual real estate market.
According to the article Is there real money in virtual real estate?, Bane Darrow (SL name) who co-owns and operates Darrow Estates estimate to recoup his investment on an island is around 14 months.
Darrow is renting out his 4,096-square-metre parcels in Darrow Estates rather than actually selling the land.
I have to ask the question; Since the class 5 server price increase and the lack of inflated value on property now in Second Life… Is there really real money in virtual real estate?
I could use advice from any of you Land Barons out there!
June 27th, 2007 • 
Weirdharold • 
comment | July 4, 2007 at 13:06 | individual comment-link
Keep us posted on how your investment pays off. Will be interesting to learn. Good luck to you
comment | April 17, 2008 at 04:00 | individual comment-link
I just stumbled across the concept of second life, and it does seem pretty wierd. I mean, why not just live in the first life?
The idea of investing in virtual real estate to me seems life an unnecessary risk. What if the corporation (i.e. Linden Lab) goes bust. There’s no brick and mortar.
comment | April 17, 2008 at 04:02 | individual comment-link
I just stumbled across the concept of second life, and it does seem pretty wierd. I mean, why not just live life in the first life?
The idea of investing in virtual real estate to me seems like an unnecessary risk. What if the corporation (i.e. Linden Lab) goes bust. There’s no brick and mortar here.