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!