Parker Brothers Archives | Honeybee Homes, LLC | We Buy and Sell Grand Rapids Real Estate

In Part I of this post, we talked about a few excellent ways to win at MONOPOLY. In the board game universe, those strategies and ideas will serve you well, and lead you to many victories.

But what about the real world? Sure, it might be fun to win on a cardboard square, but how can we apply these same principles to our lives? Fortunately, the game offers many parallels, and if we learn those lessons, we can put ourselves in much better financial positions.

1. MONOPOLY Lesson – Buy everything you land on.
REAL LIFE Application – Buy assets, not liabilities.

In Monopoly, buying everything you can early is a good strategy. It provides assets you can use later, and each one can be a key piece in creating monopolies, making trades, and building wealth.

This works in the game because every purchase in the game is a money-maker. Even the cheapest properties, with no houses added, will give you a few dollars in rent. Real life is very different! Continue reading “How to Win at MONOPOLY (and Then Apply Those Lessons) – Part II” →

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. Continue reading “How to Win at MONOPOLY (and Then Apply Those Lessons) – Part I” →