Posted by RR Smith on February 26, 2000 at 10:19:21:
Get a copy of Sim City to understand the RE investment market. Mostly everything has something to do with RE and the economy. Jobs, taxes, growth, new freeways, even your method during which part of the business cycle. If we knew which people were going to be successful ahead of time they would be able to charge more for the courses. Yeach, I can call a turn in the market usually 1/2 to 2 years ahead of time, but do you have the guts to get in there and put your money down? After watching Seattle, California, and Texas during a boom, bust cycle it seems easy, but there are quite a few intuitive things going on that are very hard to explain.
Posted by SRobertson on February 25, 2000 at 21:01:36:
JohnG-
I recently reread your reply to my post on February 15, and have had this nagging question from your response.
My wife just gave birth to our first child, and my parents have been here for this event. Every evening we break out the monopoly game. The first time we played, I totally dominated; ending the game thinking my superior knowledge and skill gave me the success.
Every game since, I have been defeated in total humility during the early rounds. I know it is just a game, but it made me think about what makes a person successful in the ‘game’ of real estate.
If it’s not too personal, would you mind telling me what was the cause for losing everything at the end of the oil boom? Economy, overleveraging, ???. What did you do different the second time around to bring you success?
I’ve purchased my second property, and looking back at the monopoly games, I begin to wonder if my next purchases will lead me to Baltic Ave. or take me to the Boardwalk.
Have you heard of Robert Kyosaki? He has writter several wonderful books, but also has come up with 3 games to help teach you about investing, CashFlow 101, CashFlow202 (advanced), as well as a kids version. 101 is kind of like monopoly for grown ups. We have been getting together as a group and playing and it is great! we havn’t played 202 yet. good luck!