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Discussion in 'Real Estate Investing' started by G_Alexander, Apr 23, 2009.

  1. G_Alexander
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    G_Alexander 150 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Hey guys,

    So I found this game last night, and I wanted to share it with the community. I believe it is a great game, and it is a lot of fun.

    While it lacks the ability to let you counter offer, and a few of the financial analytical aspects of real estate, it is a very good game which I played from midnight to around 6:30AM today here at the good ol' University of Iowa! haha



    You still need to analyze properties you want to buy (look at neighborhood values, current asking prices, appraised values, instant equity, loans), there is an in game banker who will give you refinance options and home equity loans. There is an in game real estate agent, and more!

    While this is only a demo/trial version that kicks you off after about 20 minutes of gameplay...I have found a way around it.


    When this box pops up:
    [​IMG]

    just make sure you don't click on it, go to the bottom of your computer screen and click on the FLIP THAT HOUSE tab on the left side of the two tabs. Never click on the END GAME button:

    and go back to playing! (I also found that keeping the music turned off on the game this last time might have been a factor, as I believe the music acts as a timer of sorts, which shuts the game off after about 20 minutes. Not 100% sure about this, but if you want to play it safe, turn the music off.)


    The third time I played the game last night, I managed to make:
    +A cashflow of 1.9 million a month by the time I was 49 years old
    +200,000,000 in networth
    +150,000,000 in spendable cash (which I used when new properties came up.)

    Check that out here:http://i702.photobucket.com/albums/ww26/G_Alexander44/flipthathouse.jpg

    If I just simply click advance month now, I will be a billionaire in just a few short years!

    The game is not all peaches an cream though. The first time I made it to around a million and accidentally clicked out of the game. And the second time I played I got into a HEAVY NEGATIVE CASHFLOW situation.

    You are able to buy all different types of properties, but nothing commercial and no major multi-units.

    I highly recommend you check the game out, because it is free and can't hurt if you learn even just ONE new thing! It is fun as well.

    Get the game at: Flip That House - Free software downloads and reviews - CNET Download.com

    Hope you enjoy it, let me know what you think.

    -Alex
     
    hawaiiloans likes this.
  2. Newbie
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    Newbie 20 kph Read The Millionaire Fastlane

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    Very cool thanks
     
  3. hawaiiloans
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    hawaiiloans 10 kph

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    Very interesting game! Once I started to get going by leveraging all my properties it snowballed into a huge $10 million net worth empire, with $100k cashflow. Must be true in real life as well, as money rolls in it gets easier and easier to do deals.
     
  4. G_Alexander
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    G_Alexander 150 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Glad you guys liked it. I finally closed the game after I made it to the $3,000,000,000 mark yesterday after this post. I felt my empire was large enough.

    I am now starting over and seeing if I can get the same results staying just as leveraged.

    I downloaded about 4 other free real estate games. I'll give em' all a shot and let you guys know which ones are worth your time.

    If you haven't tried this one yet, download it and give it a shot! It doesn't take up much space at all, very minimal in fact.

    -Alex
     
  5. Russ H
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    Russ H 160 kph Read The Millionaire Fastlane Speedway Pass

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    This is exactly how we developed our real-life RE investing strategy.

    We played the Cashflow boardgame multiple times, using different strategies, and found how to maximize cashflow in a very short time (hint: leverage, but smart leverage).

    So far it's worked-- but we never, ever modeled a 40% downturn in RE. Our most pessimistic models had -25%.

    This may not seem like a big difference, but it can make the difference between surviving and going bankrupt.

    The more we played the game, the more we learned.

    Haven't really played Cashflow for the past 5 years or so. Well, we have in real life (over $5,000,000 in loans in the past 5 years).

    -Russ H.
     
  6. G_Alexander
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    G_Alexander 150 kph FASTLANE INSIDER Read The Millionaire Fastlane Speedway Pass

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    Great post Russ! Thanks. It's cool to see the game you played applied to real world situations with positive outcomes.

    I have been thinking about dropping the $100 for the Cashflow board game on eBay, just haven't got around to it yet.

    I have only heard good things about it from members of this board (you included) so I think it may be time for it. Then all I need to do is get a group going to meet up and play!

    Until then, I will play these free games and see which ones work best.

    -Alex
     
  7. Russ H
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    Russ H 160 kph Read The Millionaire Fastlane Speedway Pass

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    Alex-

    The Cashflow game is, for most people, a very expensive door stop. B/c they don't use it.

    If you do buy it, make a commitment to yourself that you will play at least 10 full games in the first 2 months (they can last 3-4 hours at first).

    And be sure to change whom you play with-- best is including some successful investors or business owners.

    Check to see if there is a cashflow club in your area-- that's a perfect way to learn LOTS about the game (and it usually costs nothing!)

    -Russ H.
     
  8. hawaiiloans
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    hawaiiloans 10 kph

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    Now the game won't let me in to play the demo....
     
  9. Colbehh
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    Colbehh 20 kph Read The Millionaire Fastlane

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    Alex,

    Not sure whether you knew or not but they also have the cashflow e-game now on computer just in case you're interested in that, and I also believe its cheaper on the website ~50 if I'm not mistaken.
     
  10. Colbehh
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    Colbehh 20 kph Read The Millionaire Fastlane

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    I'm bumping this, I wanna know how the other real estate games you tried out are. I tried a few I found online and they were all pretty terrible, haha
     
  11. Russ H
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    Russ H 160 kph Read The Millionaire Fastlane Speedway Pass

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    bump. :)

    -Russ H.
     
  12. bflbob
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    bflbob 100 kph Read The Millionaire Fastlane Speedway Pass

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    I'd pass on the e-game. I've played both, but the e-game has no flexibility -- it is their rules only. I've played the boardgame a few hundred times -- including several with Russ. There is nothing better than sitting across the table from the other players.

    At last year's B&P, we played several short games with about 15-20 players. It is always an eye-opening experience.

    Find a CASHFLOW club or start your own.
     
  13. Merkin Man
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    Merkin Man 30 kph

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    Bob and/or Russ,

    I am one those people who bought Cashflow a couple of years ago and it pretty much is a door stop as Russ put it (well, it's actually sitting in my closet). I did play it once w/ MathTeacher from the RD forums when I first got it but never did since. My plan was to get my wife to play it with me, but she doesn't show much interest in it.

    Reading this thread has me wanting to find some people in the area to play it. My question is do you still find the game to be a relevant learning tool? Do you find the game to be self-adapting? Has is kept up with the changes of the past 3-5 years?
     
  14. bflbob
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    bflbob 100 kph Read The Millionaire Fastlane Speedway Pass

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    Hey Andy,

    That is actually why I like the boardgame as opposed to the e-game. When we played at last year's B&P, (I think), we played with no bank loan ability. You could get the mortgage, but you could never go to the bank for a loan for the down payment.

    You can change some of the key rules in the game to make it more realistic for the times.

    So, if you can't borrow from the bank, you are forced to get creative for the down payment on an asset. Think partnerships, hard-money lenders, and seller-financing.

    When inflation hits -- and it will -- start playing with a new rule: bank loans cost double.

    When vacancies are an issue in your area, reduce the cash flow from rentals by $50/unit, or take a $400/unit hit if you roll a "6".

    When stock prices are falling and bankruptcies are common, any stock price below $10 means a bankruptcy. Your stock becomes worthless.

    I've said it before (well, maybe not, but I should have), and I'll say it again. Come to the B&P and play some cashflow. You'll learn more about business ideas in those 3-4 days than you will during a month of classes.

    The B&P is Viagra for the mind.:smx9:
     
    Russ H likes this.
  15. Russ H
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    Russ H 160 kph Read The Millionaire Fastlane Speedway Pass

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    Awesome post, Bob.

    I'm going to copy it over to the cashflow strategies thread.

    REP SPEED. :banana:

    -Russ H.
     
  16. hakrjak
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    hakrjak 60 kph Read The Millionaire Fastlane Speedway Pass

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    I tried it yesterday for a couple of minutes, and then today when I go to launch it -- It says I have zero days left and it won't open :( I tried uninstalling/reinstalling -- but my guess is they put something in the registry so you can only play it for one day!?!

    -Hakrjak:thankyousign:
     

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