It’s being called an “Apple-style product launch.” Tesla knocked it out of the park with pre-sales of it’s new Model 3 electric car. As real estate investors, we’ve got to stay on top of economic trends because property is closely tied to jobs... and Tesla will absolutely be creating them.
Lines were out the door and down the street with people waiting to write a $1000 downpayment to reserve a new Model 3. The launch was so successful that Tesla brought in $276 million in its first weekend. For comparison, the opening weekend of “Star Wars: The Force Awakens” was just $248 million.
The staggering demand reportedly even took CEO Elon Musk by surprise - as this launch came at a time when auto sales in general are down. This is great news for the economy and potentially really great news for real estate investors who know how to take advantage of the trend.
According to Gizmodo, one survey predicted 55,000 pre-orders in the first 72 hours. Tesla blew through that with 276,000 orders in the first 72 hours and 325,000 in the first week — and Bloomberg reports that, ultimately, “reservations might exceed 500,000.” This is being referred to as the sale of the century (ironically, the century is 16 years old and ready to drive!)
Tesla's smashing success is even more impressive when you consider that the company hasn’t built 100,000 vehicles yet, and you can’t even test drive the new model.
While all this is exciting to watch and to discuss at cocktail parties, how does it affect real estate investors?
Get the full transcript at www.NewsForInvestors.com
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