And you thought that the “repo man” business was the ultimate way to play the bust. Please.
Reno, NV-based company Fast Wrap USA is the king of shrinkwrapping large items like boats and sheds and gigantic piles of lumber. And now they’re ready to do it with vacant condos, according to The Real Deal Miami (via Jonathan Miller).
It’s perfect. These condos will have value one day, when people can get a mortgage again and want to buy a place — if you think we’ve seen the last Florida real estate bubble, think again. But in the meantime, they’re empty and it’s not worth the upkeep. However it would be a real tragedy if, in a few years, we had to rebuild all this stuff. Enter shrinkwrap! If it can preserve food from going brown, presumably it can suspend the ravages of time on buildings as well.
Just imagine how screwed we’d be today if all the excess fibre-optic fibre built up during the first internet boom had somehow deteriorated, and we needed to rebuild it all. Fortunately it doesn’t go bad, though buildings can degrade much quicker. This solves that. We’re totally sold. We might even send away for franchise information.
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