Here are some key MONOPOLY IMPRESSION that Can Help You in Real Estate Investing
‘Don’t be afraid to invest’: Any Monopoly player will definitely tell you that the best possible way to make a return is to buy as many properties as you can afford. This goes for real life too, you need to have a willingness to make a commitment.
‘Think long term’: When you're willing to invest your cash, make sure that you keep in mind the return that you will be making in the long term only and not just the present moment.
‘Explore the importance of location’: Similar to Monopoly, when you're searching for a property to invest in, search for those one's that are in worth-full locations so that even during great recessions like in 2008, they still maintain their value.
‘Utilise the opportunities to the max’: Monopoly is a game where every player is given the exact same opportunities – everyone starts on ‘GO’ and you begin the game with the same amount of money. In Real Estate, it's all about PERFORMING location, when an Ideal performing location is found, one should never miss that opportunity to invest in.
Some Mistakes to avoid while investing.
New property investors make some common mistakes. Your hard-earned money, time & effort has to be valued. Here’s what to avoid.
‘Failing to calculate’: Your investment purchase should be determined by its return on value potential — not because of some emotional attraction.
‘Failing to plan’: You should always want an exit strategy if the investment doesn’t work out as planned. And set goals for your investment, so that you can know if it’s working out or not.
‘Acting out of fear’: Inexperienced, fearful investors either think they have to grab the first property they see, or they are so terrified that they never move on any other property expecting overnight riches. Most successful property investors make their money over time.
‘Failing in understanding the rules’:
In the game of Monopoly, the player who has the best understanding of the rules & regulations is going to have the best chance of winning. The same applies to property investors. When you understand the laws, regulations and rules that applies in making wise investing decisions, you’ll be good chances to invest in the right properties.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Avenue Nest does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
