I came across an interesting SF Chronicle article yesterday about a small AVA being up for sale for $3.3 million. Looking at the map in the article, this plot of land looked significantly above where Napa and Sonoma are. With our final projects, I began thinking how I might use a "large fortune to make a small fortune". What we haven't discussed yet in class is the water consumption and how strategic of an asset it is (or whether the real estate agent is simply trying to drive a higher price).
With the major droughts in California over the past decade, at first glance this winery seems to have attractive traits to succeed. What gives me pause is the latest owners selling after just three years. Are there more challenges here than meets the eye?
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