Posted by David Alexander on March 14, 2004 at 01:42:58:
and a great game it is… Lol…
It’ll be time to hit water with the boat again soon…
Hope all is well…
David Alexander
Cashflow 101 secrets? - Posted by Jay(OR)
Posted by Jay(OR) on March 13, 2004 at 13:19:47:
Has anyone ever played Robert Kiyosaki’s Cashflow 101, and know how to make it out of the rat race quickly? Thanks, and please let me know the inside secrets, Jay
Re: Cashflow 101 secrets? - Posted by Rick in Erie
Posted by Rick in Erie on March 14, 2004 at 11:40:47:
Where did you guys find this game? It sounds interesting but I have never heard of it. I would like to give it a shot!
Simple… - Posted by David Alexander
Posted by David Alexander on March 13, 2004 at 16:42:46:
Start off with big deals…
Borrow to leverage your income to Zero…
So if your income is $1,000 then you can borrow up to 10k without going negative…
Couple that with the cashflow the deal throws off… and you can borrow more…
Exit: sell the deal get a huge surge in cash and reivinest…
Or buy other deals that will sell quicker and pay off the loans… (do this by paying attention to the market, what others are doing in the game… heavy stocks… or heavy RE)
You exit extremely quick… and there is no reason to work on your debt if you getting a hgiher return on your money…
Now… Contrast this to real life… have plan in place to pay off all personal debt in 3 to 5 years…
Create a personal passive income as a foundation…
And use lots of leverage in your businesses
It’s just a game…
David
Re: Cashflow 101 secrets? - Posted by st
Posted by st on March 13, 2004 at 16:09:48:
It’s been a year or so since I played this. You should pay down your highest interest expenses first. This is usually the car. Mortgage and student loans are cheap so pay them last. Kiyosaki likes businesses first, real estate second and stock market third. There is no real need to keep cash from turn to turn. Pay off that car loan! Just borrow as needed.
Don’t be afraid to borrow for your first investment. Once you make that first $10,000 - $50,000 it gets much easier. If you never invest or invest very conservatively you will never get out of the rat race. You have to take calculated risks. Stick-in-muds stay stuck in the mud. Have fun!
Re: Cashflow 101 secrets? - Posted by michaela-ATL
Posted by michaela-ATL on March 13, 2004 at 15:33:24:
It doesn’t say in the instructions, that you can buy only 1 of whatever property you come across. So, if you pull a really nice card, you may want to say, that you’d buy 5 or 10 of these and maybe even borrow fromt he bank to do it.
Michaela
Re: Cashflow 101 secrets? - Posted by Carl
Posted by Carl on March 13, 2004 at 13:46:31:
The only thing I would add to what Eric said would be to take some of your stock market gains and pay off your debt. Reducing your monthly expenses has an immediate effect.
It’s a fun game (just like the “real” one). Like others on this board, I’m not a huge Kiyosaki fan, but I liked this game.
Re: Cashflow 101 secrets? - Posted by eric the wunderwurm (GA)
Posted by eric the wunderwurm (GA) on March 13, 2004 at 13:40:47:
I bought it on ebay (new) for about $170 a couple years ago, and have played about 5 times. Games ranged from 2-4 hours each. It’s a lot of fun. The strategy that frequently worked for me is, interesting enough, not one I’m using in real life, but it worked in the game.
I tended to make big money in the stock market and then use the profits to invest in big deals which brought enough passive income to get out of the rat race.
It’s easy to make money in stocks in the game, assuming you get an occasional good card. Simply refuse to buy stocks unless they are selling at the low end of their range (the range is listed on the card).
Good luck!
Eric
Re: Cashflow 101 secrets? - Posted by Carl
Posted by Carl on March 14, 2004 at 17:02:10:
www.richdad.com. Should warn you, it’s not cheap.
Re: Simple… - Posted by phil fernandez
Posted by phil fernandez on March 13, 2004 at 17:13:07:
Hi Dave,
What we do in real estate investing is really just a game also. You might be using real money and deal with real equity, but it’s still just a game. And it’s REAL FUN.