Who Found Real Estate Bitcoin? I Did!
When does property meander like Bitcoin value? When it’s vacant land in a progressing area, beginning to understand its own value while riding the tide of a changing market.
I’m currently investigating commercial property for an investor client of mine. The target is vacant land in a visible area that has not yet realized it’s potential. I.E. Development is just kicking off and before the neighborhood fills out, the price is lower.
But as I analyzed the heck of the area, the comps and the nature of the potential it held, I noticed one thing in particular. This property had been on the market for years. It started out as just a chunk of land… nothing amazing. Then a couple around it sold and swanky neighbors moved in. The seller realized this little plot had potential that some of the others didn’t. He pursued it’s potential with the Town and added value by getting it approved for something very useful. Then he …. wait for it… HIKED that listing price up, up and away!
Remind you of something? Bitcoin. For the longest time Bitcoin sat like a piece of vacant land (code) with it’s potential still to be realized then up it went. And today the tale of this land and the Bitcoin read like an irregular cardiograph! Price adjustment after price adjustment and the music is still playing…