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I want to buy land and rent it out to people and make a business out of it.. do people still do this


GODTRILL
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As Alwin said, we can't give business advice here but here are some very basic figures:

One full private sim at list price, not grandfathered:

  • Startup fee: 600 USD
  • Monthly tier: 295 USD

Monthly income:

  • Year 1: 30 USD
  • Year 2: 50 USD
  • Year 3: 100 USD
  • Year 4 : 200 USD
  • Year 5: 400 USD

You want to enter a declining market with far more supply than demand and compete against established operators who paid down the initial cost long ago pay much lower monthly tier than you can get from Linden Lab today, and have a well established existing customer base. It's a no-brainer really.

There are two ways that may give you a small profit eventually: you can buy up existing grandfathered sims as and when they become available with lower transaction fees and lower tier than new sims or you can build something so totally different and more amazing than the regular SL estates people are wiling to pay extra to rent from you. But even if you go for one of those options and you're lucky and a good marketer, it'll take two or three years before you break even and even longer before you recover the initial costs. Don't expect to ever make a full time living from it and as for hiring people - don't even think about it.

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It CAN be profitable, but it's a highly competitive business and takes significant startup capital.

I own about 3/4 of a Mainland sim and manage about 20 rentals on it.  I make a small profit each month, enough to pay my own SL expenses.  It took over a year before I had enough of my units rented to break even.

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