Bryan Ellis’ thoughts on The Virtualization Of The Real Estate Industry
Landlords and rehabbers take notice - you may soon be focused on the new concepts of “Virtual Real Estate Investing“. What is meant by “Virtual Real Estate Investing” ranges from online games like SecondLife (where real profit can be made) to the use of internet technologies to make normal real estate investors more profitable.
To get the facts, I sought out the man generally considered to be the father of virtual real estate investing: Bryan Ellis.
“I began using the term ‘virtual real estate investing’ in the late 1990’s when I realized the clear similiarities in profit strategies, regardless of whether the “real estate” is “virtual” or “physical” said Ellis.
Bryan Ellis cites the similar strategies one can employe to make money from “virtual property” and “physical property” as a primary parallel of the two markets. “These types of assets - websites and physical real estate - can be monetized in very similar ways like buy lo/sell high, leasing/rental and advertising opportunities” he says.
The similarities really are obvious. After all, if you own a valuable piece of real estate, it’s “valuable” because other people are interested in that specific piece of property. Similarly, ownership of a desirable domain name is valuable for the same reasons. So it doesn’t matter if you own physical real estate or virtual real estate - you’ll likely use similar strategies to turn them into money in your pocket.
In our next installment of this series on virtual real estate investing., Bryan Ellis will share the internet analogies to the physical concept of real estate development.
