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Friday, December 28, 2007

Lessons from December 26 Monopoly game

This wasn't a Cashflow game, but Monopoly. Actually, Simpson's Monopoly which takes a little getting used to.

Playing with me were my Nephew Paul and two others that will remain nameless. You'll see why shortly. Read to the end for the lessons learned.

Because it was late when we started, we played the short game, passing out 3 deeds to each player. One deal was done right then with cash and deeds being exchanged.

It's amazing when you play a game like Monopoly or Cashflow. The same neurosies that people exhibit when doing deals and even thinking about them come out. So does all of the negative thinking and the comments about greed and one person getting rich at the expense of the little guys.

One of the nameless players wasn't able to buy another deed for a number of turns, either landing on owned properties or Chance or Community Chest. She was stock piling money. The other nameless player left the game for about 20 minutes without saying anything and the first nameless player wanted us to stop and wait. Oh, boy, the world just stops. As it turned out the 2nd nameless player did quite well while gone, making cash and buying several properties.

Neither nameless player was willing to do deals that improved their position even when they gained more than the other player. Paul was finally able to trade a deed and cash to one of the nameless players that gave both of them a monopoly around the corner of Free Parking. The nameless player, despite cash refused to buy houses.

I'd been dealt the Simpson's equivelent of Park Place and then I landed on and bought Burns Manor (Boardwalk). The two nameless players insisted that whoever owned Boardwalk "always won". Then the both actively tried to sabotage the game. It was frustrating. At this point, this was the only monopoly on a color group I had so I started buying houses because I had the cash. Paul ended up with the two cheapest properties and spent the $500 and had hotels on each. The nameless ones complained. The namesless one with fewer properties landed on Park Place with two houses; she had the cash to pay the rent but just quit. The the other nameless one did. The first one to quit basically sold it all back to the bank and I got paid out of the proceeds.

Paul and I continued and I definitely had more property. He kept landing on my properties with a lot of houses or hotels. In lieu of cash for rent he offered deeds which I took. This was a mistake which I'll detail later. Then the unthinkable happened. He was down to the 3 red properties just past Free Parking and had one other deed. But he was slowly adding houses and then hotels to the 3 reds. I had hotels and houses on all of my monopolies and owned all but Paul's and the remaining 2 unsold properties. What was the unthinkable? 10 straight times around the board, Paul landed on none of my properties and I landed on his houses and hotels. Just one of the red properties made over $4K. Not bad considering that 4 houses and a hotel on that property cost a total of $750.

I was unwilling to part with properties so I was mortgaging them, selling houses back, etc., raising cash to pay the rent! I even had to pay Fat Tony's protection (real game, IRS taxes of $200 in the short game) 6 out of 10 times passing go during the same wave of no income from Paul and consistently landing on his hotels.

Finally, he landed on Park Place when I'd stripped it and bought back 3 house and I missed his hotels a couple of times. We quit after a couple of hours, adding up the cash, the property we each owned (1/2 retail for mortgaged properties) and the retail price of houses and hotels. I was leading by about $1K and we decided that I'd role just to see what I'd land on. Yup, one of Paul's red properties with a hotel. That would have meant that he had more net worth.

Essentially, it was a draw although through attrition I expect that I'd have "won".

Now for your reward since you stuck it out and read the whole post:
1) Ask why other people are involved. Really asking ahead of time would probably have helped me determine not to get involved (in the game) with the two nameless people. They really didn't want to play as it turned out and they tried to sabotage the game.
2) While sometimes accepting a deed for payment can be good, I should have taken cash. Paul would have been forced to mortgage or give up properties and would have been stretched much thinner. I'd have had more cash.
3) Keep more cash on hand. I was putting houses on properties where the odds were good Paul would roll and land on them right away. He kept avoiding and I kept having to sell back houses to pay Paul the rent.

So was this a waste of my time? Nope, I still learned something and the frustration was part of the lesson

Wednesday, December 26, 2007

Lessons from December 8

With the holiday season approaching, we had a smaller group of 4 playing. In attendance were myself, James Greelish, Mike Marques and Bob Kay.

Sorry for the long delay in posting. For most of the month, I've been feeling poorly, since returning from my most recent trip. As a result, too much time has past for me to really talk about what lessons were learned. I'll strive to do better.

Next games

The next games for the Twin Cities Rich Dads and Moms Cashflow club are this Saturday, December 29, 2007 in Fitchburg, MA and January 12, 2007 in Leominster, MA.

We'll have a speaker on January 12 talking about building wealth for families.

To find out more, visit our website and signup for the newsletter.

Happy Holidays!

With the holiday season upon us, I want to wish all of you a joyous time at Christmas, Channukah, Kwanzaa or whichever holiday you celebrate. I welcome each and every one of you and value you contributions to the group, whether you are a casual reader or play Cashflow with us monthly.

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