- segohMember@segohJoin Date: 2008Post Count: 1
We are new to CashFlow 101 and are confused by some of the cards.
Firstly, we would like to understand the Houses and Condo with cash flows of -$100.
We have a few theories.
– They exist to teach that there are certain properties that you just shouldn’t purchase.
– They show you what happens when you take a risk. e.g. you might just get the Market Card that you need before you get to the next Pay Check. We have had one win doing this, but mostly find it too risky as it can take forever to land on The Market, and then chances are your won’t get the right Market Card anyway.
Are we close?
Sister-in-law Borrows Money.
We cannot see how we would ever recover the loan. We have checked all the cards and there are none that indicate that a sister-in-law finds a new job, so how do we get the $10 000 promised by the card? Is this a lesson in the risk of doing business with family?
Market Card – Brother-in-law wants to buy your 3/2 rental. He promises to pay $100 000 four years from now. Your cash flow goes down $500/m until you collect the $100 000. Of course the question is… How do we collect the $100 000?
JenL.A AussieMember@l.a-aussieJoin Date: 2006Post Count: 1,488
Politically correct way of saying don't lend money to family members – especially the ones who are hopeless with money.mel_d01Member@mel_d01Join Date: 2008Post Count: 26
Firstly I love this game!! I always take it with us on holidays my boyfriend gets sick of the game after a while and I just wanna keep playing it….
ok 1. negative cashflow of $100, means u need to pay $100 every month to keep the property. Neg cashflow properties are everywhere in australia! its hard to find +ve ones. but this card can be good if you can afford to hold onto the property and sell later on when u get a good price sell card.
sister in law borrows money, basically means say good bye to your money. from memory I think theres another card that says sister in law re-pays money….but who knows when u will come across this card. same in reality really. give out what u can afford to lose.
I can't remember the brother in law card…hmm not sure
haven't played it for ages, living overseas at the moment. can't wait to play it again tho. I even bought the computer game…but yes left the other CD at home arghhh..
have fun playing!
mel:)CHISParticipant@chisJoin Date: 2008Post Count: 80
Can you buy it in Australia or do you need to go to the richdad web site?Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763
You should be able to buy the game from http://www.powwowevents.com.au
The -ve cashflow cards are there for those who want to speculate on growth. In the US, it is much easier to buy +ve cashflow properties, so why would you -ve gear? Things are different here as property prices are a lot higher relative to rents.
That said, I made my fortune on the back of +ve cashflow houses in regional areas. I read an article recently that if values drop and rents rise then the days of +ve cashflow may return. Until then, you have to try and make your +ve cashflow rather than seeking to buy it.
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
Success comes from doing things differently