Ali Ata: 4 Lessons Monopoly Teaches You about Real Estate Investing
You’ve probably tried your hand at real estate investing without even knowing it. Real estate investing guru Ali Ata says Monopoly (yes, that Monopoly) isn’t just fun, it’s also a great practice for actual, real-life investing. It can teach you several lessons that will come in really handy when you start growing real money through real estate properties. Playing Monopoly can teach you to: #1. Always have cash ready You can’t win in Monopoly without cash on hand. If you burn through your finances, you won’t have enough to pay for taxes, penalties, and other obligations. You may have to start selling your properties at a discount just to have enough cash. Once this happens, chances are that you’ll declare bankruptcy before long. This actually happened during the Great Recession. People became so addicted to credit that when the housing market collapsed, many found themselves without any cash on hand. Many ended up selling their homes at much lower prices just to have cash or pay...