Everyone knows about the potential to make money in real estate but how many of you know about virtual real estate.
After my real life real estate investments were sold off I had some money to invest and decided to do a little online research.
That research yielded me several websites that actually sell virtual property.
Why would anyone want to own virtual land? For the same reasons investors want to own tangible land.
It’s valuable online since just like in the real world you can build on it, rent it, sell it, or sell items on it through a business.
The most well know virtual real estate site is without a doubt Secondlife, some of you may have even heard of it.
I got involved in SL as it is known among users about 3 1/2 years ago and I am still a member( Dillian Novi) is my screen name there.
Plots start at 16 sqm and up with common buildable parcels starting at 512 sqm.
When I first started in SL many of the small 16 sqm roadside lots were selling for more than the average 512 sqm lots.
Why would you pay so much more for a tiny lot on the road? Simple, roadside advertising signs.
I had sold many of my roadside lots back them for between $5000 Linden($15) – $10,000 Linden($30). Many of the lots I payed no more than $1.000 L($3) since 300 Linden = $1 or so.
So I was making decent profits and owned a lot of land but Second Life caught on and too many people complained of all the ads by the road.
So Linden Lab ( Management of SL) decide to put a bunch of strict rules in place which basically killed the 16 sqm market.
Today most people make money through selling larger 512 sqm.+ lots and selling services and items like virtual clothes, furniture, etc.
There is still a lot of money to be made in second life but as in real life, the game changes and you just need to adapt. The Entrepreneur’s Guide to Second Life: Making Money in the Metaverse
If you sign up for SL and have any questions you can contact me there. My screen name is Dillian Novi.