I have a decent sized parcel of land about 8700 sgm that supports 1992 prims. I would like to put up a rental community. I have gone and looked almost all of the major rental communities and I have some questions. All I really want to do is cover my $40 tier payment so this isn't a make money project. My real talent is furniture making but that doesn't do much to cover tier.
First question is about the market. Is there a market for high prim, high area apartments or am I better off concentrating on a newbie friendly (low rent) community of 50 - 75 prim spaces? I have actually run spreadsheets that show that the most efficient use of this parcel is seven 200 prim units, leaving me with a healthy cushion and covering the prims of the build. But I would have to charge about 2.5L per prim (500L) a week (assuming a vacancy rate of about 40%. On the other hand, I could do literally 25+ 50 prim spaces for 125L or less.
I would prefer a high end project (so I have fewer tenants to deal with !!!) I just don't know if there is a market for that. I would think that if I want 300 prims, I want my own land and my own house. My idea was a super luxury 6 to 7 unit high rise with big area both horizontally and vertically (for privacy) surrounded by a park making a decent sized parcel of relative peace in the mainland chaos.
This is my only land so my tier is fairly high pre sqm. Does anyone have any better ideas for use of the land generate enough L's to cover my tier payment and maybe brig some exposure to my furniture creations? I don't want to sell it.
The other question is about the group thing...... I have created groups in the past that don't own land. Why can't I restrict access to my land to those in a group I have created without actually deeding the land to the group? I just don't see the need to have the group own the land other than the 10% more allowed holdings.
Thanks for any adivce you may have
