Do you hate Monopoly? Do you feel like the game is all about luck? It can be an extremely frustrating experience, especially if you’re on the losing end.
Because of our work in real estate, we get asked about this game a lot. And as it turns out, there are plenty of tips and tricks to help you win. On top of that, there are a ton of real-life lessons we can pull from this 80 year old game. So grab your tiny metal dog, and dig in!
1. Buy everything you land on.
In the beginning, everyone starts from the same square, with the same amount of money. So, once you roll the dice for the first time, what is your best move? BUY EVERYTHING.
If you land on it, purchase it. This is by far the cheapest and easiest way to acquire properties, and all of them get snatched up in a hurry. Don’t worry if you don’t have any other properties in that color, or it’s a low rent part of the board. Each property is an asset that you can use later to build a monopoly, mortgage for cash, or trade. And since every property makes money, you’re off to a good start.
Even you have to mortgage a property to buy a new one, it is worth it. Those cards become very valuable!
2. If someone is selling property, buy it.
If another player doesn’t want to buy a property THEY land on, it goes to auction. In other cases, people will want to sell a non-performing property to get some cash. If you can, buy these properties as well.
This might feel a bit strange, especially if the card isn’t a very valuable one. However, you don’t want to have a lot of cash in your hand. That money won’t do much to build up your homes, and the property will likely be worth much more than your purchase price later on.
3. Get a Monopoly as soon as you can.
If you’re close to a full set of properties, do whatever is necessary to complete it. This includes overpaying for the final property, allowing someone ELSE to get a monopoly, or even settling for a low-rent area. 3-property monopolies are better than sets of two, but take what you can get.
It might seem silly to give away the farm for a mediocre set of properties. However, having a early monopoly gives you a huge advantage, as you will get a major head start in higher rent collection. It’s worth it!
4. Get your Monopoly to at least 3 green houses.
For most monopolies, there is a significant jump in rent once you put three houses on the same property. This is the point where you will typically start seeing a good return on your investment, so get there as quickly as you can.
Feel free to mortgage other properties, trade around, or sell a utility to make this happen. You’ll make more from the rent then you will from the random property at this stage.
5. Work to get a second Monopoly.
By this point, you should be in a decent position within the game. Make a move for a second monopoly, and repeat the process. There’s probably a player or two who’s in dire need of cash or property by this point, so do what you need to get your second complete set.
6. Be willing to take properties instead of cash.
Once players continue to land on your monopolies, they will begin to run low on cash. The game rules allow you to accept property instead of cash, and you should capitalize on this. It is a good way to acquire more properties, and can keep people in the game at a tight juncture.
7. Advanced and Aggressive – Housing Shortages
If you’re being especially aggressive, snag as many of the houses as possible. Rather than upgrading to a hotel, keep all of your properties at 4 green houses. Since there are only 32 houses available to purchase, you can create a ‘housing shortage.’ If you have 2 monopolies, you can own up to 24 houses, which severely limits other players’ ability to upgrade their property.
Be warned though – this is the type of move that upsets people. As a result, we don’t recommend it, as games are supposed to be fun, not frustrating.
For next time…
Following the first 6 steps should put you in a good position to win MONOPOLY every time you play. In the next post, we’ll dig in to how you can apply these subtle lessons to your own life. Game on!