May 29th, 2007Long-Term Real Estate Investing
How long would you be willing to wait for a plot of ocean-front property near Hawaii if you could buy the land starting at $40 US? Ten years? Twenty? Ten Thousand?
Lo’ihi Development Co. will soon start offering oceanview lots that may not be realistically viable for above-surface residential complexes for a few millenia. This is because the land that’s being sold is currently a kilometer (about 3,000 feet) below the surface of the ocean.
Ya know … I wish I would think of things this crazy once in a while. Norm Nichols, co-developer of the online venture, assures people this isn’t a scam saying “If you really think there’s something here that you can’t live with, nobody’s forcing you to buy it. It’s meant to be fun.” This reminds me of a few other sites where we are enticed to buy entire star systems, or plots of land on various celestial bodies for relatively small amounts of cash.
What I find positively amazing is that some people actually make enough with these ventures that they only need to work part-time, if at all. Though unlike some of the other sites, Lo’ihi Development lets you know that this is a parody up-front.
Scientists don’t know how long it will be until Lo’ihi will break the surface of the Pacific Ocean. Some say ten thousand years, while others say never. So if you’ve ever wanted to leave something worth absolutely nil to family after your passing, perhaps a few acres of land on this submerged volcano would be a nice parting gift.















































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