I learned everything I needed to know about Real Estate from Monopoly. Well, maybe not everything, but certainly the basics of real estate investment.
Seemed to me that there are 2 strategies -
Some people buy everything, take big chances, and either win big or lose big. They buy whatever properties they land on, build them up with houses and hotels immediately, and spend every last dollar they have to improve their properties. They never have cash to pay rent when they land on someone else's properties, but they collect big rents from others. Really big. And when they win, there are fireworks surrounding their success and they leave everyone else in the dust. But when they lose, they go down in flames. Their game is very dependent on luck.
Others are more conservative - they buy only certain properties, they invest in them deliberately and cautiously, and re-invest when the original investments pay off. They keep a nest egg for emergencies, and pay close attention to which properties get the most bang for their buck. When they win, they win gradually, snuffing out the other players deliberately and systematically. When they hit a string of bad luck, they're able to maintain their dominance for a long time, and then, if the bad luck holds out longer, they sometimes, but rarely, lose.
I, of course, played like the impulsive one. My sister played like the conservative one. She beat me 6 out of 7 times, but my wins were spectacular.
How do you roll?
~ Wayne & Jean
Union County, NJ - a great place to live and work!
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