Work out how much money you can afford to pay in mortgage repayments each month and how that will impact the speed at which you build up equity in the property. You should also look at expenses like body corporate fees, insurance and maintenance costs and work out how they will impact on your bottom line. Try to get a good understanding of how different features will impact on your ability to find a tenant and how much rent you will be able to charge. When analysing a property, look at comparable sales in the area, and comparable rents. In the real world, it’s even more important to understand the numbers involved when buying an investment property. Unfortunately the jail hasn’t been privatised so you can’t buy it, but you can buy the most frequently landed on properties, which are: It turns out that jail is the single most visited square in the entire game. So, by doing some research and looking at the statistics, you can make informed decisions about how likely people are to land on certain properties during a game, and how profitable each group of properties are – then adapt your strategy accordingly. Players have no control over where they move, which means almost everything is decided by the roll of the dice. When it comes down to it, Monopoly is really just a game of numbers and statistics. At the same time, it is enduring in its popularity and maybe part of its appeal comes from some of the real world lessons it can teach about investing in real estate. It’s old, flawed and relies heavily on luck and no amount of special edition pop culture tie-ins are going to change that. You might remember the thrill of passing go and collecting $200, how tense it gets when you have to move past a row of hotels, or maybe all you remember are the arguments it caused around the dinner table. Most people have at least some memory of playing Monopoly. Monopoly might not be the best real estate board game out there, but it is the one that everyone knows.
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