Success in Virtual Real Estate Development

Success in Virtual Real Estate
Vio Business Series #8

INTRODUCTION

Many people come to the virtual world prospecting for opportunities to generate real income. One of the most popular ways to do so is to develop virtual space (real estate). There is a lot of money to be made, especially in being able to duplicate a successful business model and real estate development plan, but there is also a lot of financial commitment and risk involved.

Vio Business believes in learning from the successes and mistakes of others, in order to improve your own chances for success. We are proud to provide its members with the opportunity to learn from one of the most prolific and successful real estate developers in Second Life, Giancarlo Takacs of Costa Rica Sims. He has built success around an attractive niche and has duplicated his success, owning more than 50 sims.

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Being Successful in the Virtual Real Estate Business
by Giancarlo Takacs

Have a plan! Successful business ventures are created by having a strategy, and not out of pure luck. In building this strategy, you will need information. What better way to gain answers to your questions than by talking to the owners and managers of established Estates? Build relationships with successful people and always be up front regarding why you are asking questions.

Today, it takes no more than two minutes for a sim to be delivered, so don’t rush or expand too fast as this can be detrimental to your goal. Remember, that while friends are supportive, they might not have the skills you need to be successful. Surround yourself with the best people you can find, those that will help you achieve your goal. In return, do not ever become greedy. And finally, do not expect that you are going to be making a real life income from Second Life overnight.

Giancarlo Takacs was created by the people behind Crest Custom Travel, a travel agency based in San Jose, Costa Rica. This creation was to explore the possibility of providing exposure to the company within a virtual world while offering the ability to book tours and excursions to Costa Rica utilizing the Second Life platform. At this time, the avatar named Giancarlo Takacs is used exclusively by the CEO of Crest Custom Travel.

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SUMMARY

When dealing with virtual real estate (virtual space), you are dealing with server space on the Internet, but in a form where many aspects of real estate apply. Shop around for good deals. Sometime, especially when traffic count is important, location may be more important than price. Make sure all terms and conditions are clear and understood before you make a financial commitment.

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