Although economists point out how a diehard dependence might be prohibiting young buyers from getting the keys to their first home, coffee is a small luxury almost all of us enjoy on a daily basis.
BDH Solutions are based in Carlton, where the coffee scene is alive and thriving. Who would even consider walking into the office having not first made a pit stop at the likes of Heart Attack and Vine, Wide Open Road or Patricia’s for a caffeine hit?
And here is the thing, who even hits the office any more? The trendy cafes across Melbourne are populated from sunrise to sunset with mobile workers. This new generation of professionals connect themselves to their laptops via earphones and barely move for hours. Pop in at any time and you will see them typing furiously, only pausing to take another sip of latte or a bite of smashed avocado on toast.
It’s tempting to lean over and see what these people are working on! In today’s communication age it could be anything from plumbing quotes to code for the next generation of artificially intelligent machines.
Linking coffee to real estate
Coffee shop workers were once poor students or writers aspiring to reach JK Rowling levels of success. Nowadays, they’re affluent professionals who have the benefits of flexible work on their side. Many are home owners and investors, or are so-called ‘rentvestors’, who own a starter property but do not live in it.
To an ambitious real estate agent, all these flat white drinking hipsters represent potential clients. They have the budget for a daily splurge while also being able to afford their own slice of real estate pie. They could be looking to make a purchase, about to sell or seeking a reliable property manager.
Building your rent roll through coffee
Drawing a line between hipster coffee culture and rent-rolls may seem like a stretch - but it may not be as outlandish as it first sounds.
In terms of economic growth, any area, no matter how run down, will be improved by the opening of a trendy coffee shop selling top-of-shelf coffee.
Courting the acquisition of new landlords for your rent roll based on where the new coffee shops are popping up may not be quite as crazy as it sounds!
Investors are often the first to spot a suburb on the rise. They are looking for the next big thing at entry level prices - and they’re looking for good coffee.
Get to know the barista - they often act as confidantes and counsellors for people from all walks of life. If you have a good relationship with two or three of your local coffee kings, they are more likely to recommend you to their loyal subjects. They may even be happy for you to leave behind some marketing material promoting the benefits of your agency.
Being seen when you’re out and about is an important part of your job when you are looking to bring in new business. There’s no better place than the latest trendy coffee shop to start meeting the locals.
Perhaps you should even consider finding a central table and firing up your own laptop for some work while you indulge your caffeine addiction - you never know who is eavesdropping or taking a sneak peek at your screen!
BDH Solutions are rent-roll agents with over 30 years experience in connecting the right vendor with the right purchaser. To stay up to date with our latest listings, register here.