Monopoly, the world’s most popular board game, has for years entertained millions of people with the imaginary thrill of what it is like to be a real estate tycoon. I started playing Monopoly at a tender age of seven. At that time, playing the board game was just pure fun. Little did I realize that the game actually taught me valuable lessons which would become useful for my future property investment ventures!
To win the game, you must be the wealthiest player through buying, renting and selling properties. You need to watch for the right opportunity to make a good trade. Buy as many properties as you can afford because other players will be paying you rent whenever they land on your properties. As you amass more wealth, you can buy more land areas, build houses and hotels to grow your wealth further. You certainly can't win if all you do is just to collect the $200 salary every time you pass "GO" without buying any income-generating assets!
The Monopoly game concept of building wealth is similar to what the rich people do it in the real world, isn't it? Wealthy people frequently invest in properties to generate income to grow their wealth. Others simply travel round in circles, passing "GO" every month just to collect salary. Unfortunately, most people choose to play their game of life moving in circles - collecting salaries, spending on consumables, saving any money left, doing every other things except investing in assets to generate more income. It is no wonder that many people find it hard to become rich and financially free!
I enjoy playing the Monopoly game and the thrill of being a fictitious property tycoon feels wonderful. So one fine day I asked myself, "Why not move on to play Monopoly in real life and be a real property tycoon?" This thought has shaped the direction of my life. Through playing the game, I learned the value of asset ownership that helps to bring in income to reach the next financial milestone. It helped developed an entrepreneurial mindset in me.
My wife and I bought our first "green house" in 2000 - a condominium in Singapore intended to be rented out. That first investment property got us started playing the Monopoly game in real life! I remembered the thrill we experienced when collecting our first rental income in addition to our salaries back then. We went on to purchase more "green houses" in the next few years to gain more rental incomes. Fast forward to today, we now own several properties in Singapore, Australia and Malaysia. Our "green houses" are providing us with respectable rental incomes that enabled us to buy the "red hotels" consisting other types of investment. This is our "Monopoly" game plan, in the real world, real time.
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Kelvin Wong is a millionaire investor, author, and landlord in 3 countries. He currently owns a multi-million dollar property portfolio in Singapore, Australia and Malaysia. With his assets generating multiple streams of income to sustain his desired lifestyle, Kelvin became financially free at 39. He holds a Bachelor of Business (Dean's List) degree and a Diploma in Business Management. Kelvin writes about building wealth and achieving financial freedom in his free time.
Copyright © 2011 Kelvin Wong
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