When your antenna is up, what happens?
Opportunities present themselves; that’s what!
Such is the case of one of the advisors in our firm’s projects; Provia Labs. I probably would never equate a Dentist with international investment real estate in Boston, but that’s exactly what happened.
As any Bostonian will tell you – the city has, demographically, one of the greatest levels of educated adults holding a bachelor’s degree or higher than any American city (over 35%).There are more than 100 colleges and universities in the greater Boston, Massachusetts area. These include technical schools, art schools, liberal arts schools, major research institutions, and many more. Boston is the home of such world renowned schools like Harvard and MIT.
Now add to the equation Asians – who it is well known greatly value this education for their children – and Asian economies that are softening and prompting overseas investment. The end results are homes that have to be acquired for up to eight years to enable a full course of study. These homes in hubs like Boston (as seen in the London real estate market) are likened to a safety deposit box with a roof. It really is a no brainer for the parents of these expat students to purchase such a property!
As a Bostonian native, this is what Dr. Nicholas Perrotta, who is Provia Lab’s advisor and a renowned Dentist in the Boston area, recognized. High demand is coming for luxury housing, from both these international students as well as investors who relocate to Boston. These families want the best – and that isn’t your Father’s “dormitory room”. In addition, Boston serves as an east coast “Bio” version of California’s Silicon Valley, so it’s not just students. Seeing this demand and opportunity, Dr. Perrotta created the ultra-high end real estate service website 8libre.com.
Since its inception, 8libre.com has focused its attention on not only the international investor, but also on the Asian one in particular. With a full “turn-key” boutique type service, the firm is equipped to handle every aspect of the overseas purchase. From translation to knowledge of international acquisition, the firm allows the investor to enjoy what is normally a stressful experience. This attention to detail, and the decision to capture this specific niche segment, allows the entrepreneur to differentiate themselves in a new an untapped market.
Dr. Perotta comments “8libre.com was designed from the start to service the overseas investor. Being guided by our parent, True North Realty, with over 20 years’ experience in the Boston market, we were able to focus on our investor’s needs. We decided it had to be a full turn-key experience for example, thus our multilingual agents are well-trained to make this process one that will be a very positive experience. We recognized that the more we could suffuse the two cultures together and anticipate any differences, the more enjoyable it would be. One example, that is an inherent flaw in most websites, are non-residents’ lack of local market knowledge. For instance knowing on the map where Harvard is in relation to all available units. Add in local transportation, restaurants, and personalized pastimes like fitness or cultural events, all overlaid in real time: You have a winner!” Dr. Perrotta adds “I guess my empathy for my patients comfort in the dentist office carried over to my real estate!”
As Grace Century looks at 1000’s of projects from all over the world,what this reminds us is that opportunities come from many different places. Ironically, most of us fail to see the ones in our own back yard. In short, keep your eyes open and your antenna up…you never know where a need might arise that needs satisfying.