Property Investment, Success & Money | The Michael Yardney Podcast Here’s what a game of Monopoly taught this veteran property investor [Summer Series]
Have you played Monopoly recently?
Monopoly has been a classic board game for over a century.
It’s a real estate trading game played for fun… and for a chance to be a real estate tycoon.
I recently played with some of my grandchildren, and while it annoyed me that I wasn’t able to borrow to buy a property, I was still hooked on the thrill of accumulating Real Estate and collecting rent.
I also realized that there are some valuable lessons all investors can learn from playing Monopoly to help them win the game of property investing in real life.
Playing Monopoly with my grandchildren reminded me of a very important lesson all property investors must understand – and this is that not all real estate is equal.
You see…everyone wanted to buy Mayfair the most expensive street on the board, but no one really wanted the cheap locations at the other end of the board, the names of which I don’t even remember.
Then there are other locations on the Monopoly board, some of which were more desirable than others.
And it’s the same in real life…not all real estate locations are equal and just like there are different precincts on the Monopoly board, there are basically 4 types of locations where you could buy properties in the real world.
And as you’ll see a lot has to do with the demographics of those who want to and can afford to live in these suburbs.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Shownotes plus more here: Here’s what a game of Monopoly taught this veteran property investor (Summer Series)