Real Estate Flops

Learn From Their Mistakes

WeWork Did Not Work

As property managers, we understand the importance of filling an office building with tenants and acquiring rental income. WeWork’s objective was to earn more money for its tenants by creating trendy office spaces that would encourage its employees to work in the office rather than working from home.

In theory, this was a fantastic idea – until it wasn’t. Following the Master Lease Business Model can be very risky.

Where did WeWork go wrong with their business model?

The Empty Space Building has recovered, but not through real estate rentals.

The Empire State Building

The Empire State Building is an internationally recognized symbol of prosperity, and it is beloved by tourists visiting New York City from all over the world. Property management prepared itself for crowds of Americans flocking to work from inside this great American Empire.

Can you imagine looking up from your screen and soaking in that breathtaking view of the city?

But in 1931, at the start of the great depression, the demand for office space rentals was less than anticipated.

The Empire State Building

Can you imagine looking up from your screen and soaking in that breathtaking view of the city?

But in 1931, at the start of the great depression, the demand for office space rentals was less than anticipated.

The Empty Space Building has recovered, but not through real estate rentals.

The Simpsons House

Is this a true fan’s dream home or a real estate flop? In 1997, a painstakingly accurate real-life version of the Simpson’s house was constructed in Nevada as part of a sweepstakes.

The winner could select between two prizes – a brand-new orange, cartoony house, or a cash prize amount. Taking the cash sum might be appealing, but with the right property management and marketing, this unique, eccentric has great real estate investment opportunity potential.

Would you keep an orange house that looks like it came from a cartoon set, or take the money and run?