St james place monopoly6/21/2023 ![]() ![]() Start by buying the less expensive units. In the real world this is a good strategy too. When you start collecting rent, you can then reinvest this into properties with better return. The best way to do this in Monopoly is to concentrate on the properties on the first side of the board. The first player who does this, regardless of the property has an advantage. In Monopoly, the goal is to get your first set and then to get to the level of three houses as quickly as possible. Start by buying cheaper properties, which you can quickly bring to a stable income producing level. If an improvement doesn’t increase the value of your property or the rent you receive then don’t do it.ģ) Start slow and then build up. In the real world, the same is true for improvements on your investment property. What’s better is to have three houses and then go looking for further properties to buy. After that, with four houses or hotels you experience a diminishing rate of return. In Monopoly, your best return on investment is having three houses. So might other areas depending on big employers in the area, transportation and general lifestyle.Ģ) Don’t over improve your property. A place within walking distance to Sunlife or Grand River Hospital could be like the oranges. Perhaps somewhere near uptown Waterloo or downtown Kitchener might be a better buy. In Kitchener Waterloo, there are some great areas (perhaps near the universities or Conestoga College and the 401) that produce great income, but the cost is high and may not be the best place for a first-time investor. In the real world, location is critical too. ![]() With the orange’s your return on investment is higher than any other color. Although the rent’s not that high, the cost to buy isn’t as high either. James Place, Tennessee, and New York Ave are the best properties on the board (the orange ones). The best properties are on the second side of the board between Jail and Free Parking. The cheapest are the cheapest to buy but produce the cheapest rents. The most expensive properties are the most expensive to buy but produce the highest rents. They are right around the corner from the cheapest properties on the board. Boardwalk and Park Place are the most expensive properties on the board. Many of the truths about the game are also true about real estate investing.ġ) Location. Most of us have played Monopoly so we know the fundamental truths about the game. But it’s a game about investing in real estate and it can teach us a lot real estate investing. ![]()
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