Tuesday, August 4, 2009

Meet my friend Rich Uncle Pennybags, or as most would know him, Mr. Monopoly. This sharply dressed man is currently worth 7.1 Billion on the Forbes Fictional 15.. How you ask?.. the game of Real Estate. Now his character is fictional yes, but the concept stands the same in the real world. There are many individuals who have made fortunes by making the right decisions with real estate, ie: Donald Trumip, Gary Keller, Peter Linneman, Franklin D. Raines to name a few.

Monopoly involves a portion of luck, with the roll of the dice determining whether a player gets to own key properties, or lands on squares with high rents. Even the initial misfortune of going last is a significant disadvantage because one is more likely to land on property which has already been bought. This therefore causes the player to be forced to pay rent instead of having an opportunity to buy unowned property. There are, however, many strategic decisions which allow skilled players to win more often than the unskilled.

The goal is to become and stayed informed on current market situations. Be a "skilled player." Unlike monopoly, Luck is what happens when preparation meets opportunity in our world. Staying ready, so you never have to get ready is key. This brings deals, while others miss the opportunities. I'm working towards starting and maintaining my real estate portfolio, are you? Lets stay ahead of the flock and start our journey to becoming successful at the real estate industry. Life, Liberty, and the Pursuit of Happiness OR as I look at it... (Property!).

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