ChatGPT is taking the world by storm, and though Micro Real Estate has not taken off as I’d hoped (yet), at least the AI is “thinking” about Micro Real Estate similar to me.
Micro real estate often refers to small-scale real estate investments, such as the purchase of individual units in a larger property or the development of small-scale, modular housing projects. These investments can be made by individuals or by companies, and they often target areas with high demand for housing but limited supply. Micro real estate can include tiny homes, accessory dwelling units, and other small living spaces.
Now compare this to locations for vending machines:
Locations for vending machines refer to the placement of vending machines in various types of settings such as office buildings, shopping malls, airports, schools, hospitals, and other public spaces. The success of a vending machine location depends on factors such as foot traffic, visibility, accessibility, and the demographics of the area. Popular locations for vending machines include high-traffic areas such as lobbies, near elevators or escalators, or near entrances and exits. It is also important to consider the type of product being sold and the target audience. For example, vending machines selling healthy snacks or drinks may be placed in a gym or a hospital while vending machines selling electronics or gadgets may be placed in a technology hub or an office building.
Vending machine locations can be considered a type of micro real estate in the sense that they both involve small-scale investments and a focus on specific, targeted areas. However, vending machine locations are typically considered to be a subset of commercial real estate, whereas micro real estate is more broadly defined and can include small-scale residential properties as well.
Vending machine locations are typically leased or rented, and the owner of the vending machines is responsible for maintaining and stocking them. This is similar to how a landlord would be responsible for maintaining and managing a property for renters.
In summary, vending machine locations are a type of micro real estate in terms of the scale of the investment, but they are considered a different type of investment from micro residential real estate.
So, all in all what ChatGPT thinks of Micro Real Estate is pretty good, and smart micro real estate hardware like AI-powered ATMs will integrate AI into micro real estate, and let MRE agents process transactions much faster.