When hotels in the Bay area filled up for an industrial design conference they were also attending, they put down three air mattresses and offered a bed and some breakfast to any conference attendees who needed a place to stay, changing $80 a night per person. Airbnb (NASDAQ: ABNB)Īirbnb started out as an air mattress on the floor when co-founders and housemates Brian Chesky and Joe Gebbia, who both worked in design, found themselves struggling to come up with their rent. There’s a modernized version of the timeshare concept on vacation and/or second homes and there’s some helping people get into their own homes, or just find a place to rent. Some startups are specialized as simply crowdfunded commercial real estate. Some startups in the real estate space focused on modernizing the bed and breakfast business concept. Real estate crowdfunding is like a timeshare you never use – you buy into a property and become a shareholder, and you could earn a portion of the profits that could be generated from the investment, whether that potential profit is in the form of rental income, or from the sale of the building. Prior to the JOBS Act, the only ways you could really play in the real estate market was by buying a physical property and renting it out (or fix and flip), opening your home up as a bed and breakfast business venture, or investing in REITs (real estate investment trusts).
Our wages haven’t risen to match the California real estate market prices that we’re experiencing, so creativity wins the day. The local real estate market is red hot for sellers, but hard for renters and first-time home buyers.
My son covers his house payment through roommates’ rent. And creativity afforded startups to enter the race-to- unicorn status in real estate as well. The big deals involved larger four-plex, apartment buildings, and commercial buildings as well as business opportunities.Ĭrowdfunding has made it possible for more people to play real life big deal real estate opportunities. The small deals involved stock opportunities, and single-family homes, and sometimes a duplex. In playing the game, the way to get out of the rat race in the game is to take as many small deals and big deal opportunity cards as possible as early as possible and avoid the job loss spot on the rat race if at all possible. One of our sons now plays in the real-life version of CashFlow by renting out rooms in his home and managing investment properties as a side hustle. As a result, I got a chance to buy his CashFlow 101 game at an employee discount. Being successful in the game helped us to become confident that we could be successful in real life investing as well.Almost 20 years ago, the investment education company I was working for brought on Robert Kiyosaki’s real estate investing training as part of the suite of coaching products the company could sell and fulfill. Having played the game many times, we realized that some strategies would not work for us in our specific situations, and that we should focus our attention to what fit better. Playing the game helped us determine the strategies that we wanted to pursue as we began our real estate careers.
In the game, you will be looking for ways to get your money growing, not just sitting in an account. Unlike most games, where the winner is the one who has the most money at the end, Cashflow 101 makes it clear that having cash is not the goal, acquiring cash flowing assets is. Playing the game helps you get into the mindset that you should be constantly looking for deals that will provide you cash flow. It is a fun way to change your mindset from perceiving real estate, businesses, and stocks as risky, to realizing that they are the keys to achieving your financial freedom. You can try various strategies for building wealth through different approaches and see how they work before implementing them in real life. The main lesson of the game is to get your money working for you, rather than working for money. It is a great way to learn to think like a rich person thinks. The boardgame Cashflow 101 was created by Robert Kiyosaki, the author of Rich Dad, Poor Dad. Read why Lloyd enjoys the game and why you might enjoy it, too! CashFlow Game Subgroup CashFlow Game Subgroup meets on the 3rd Tuesday of every month at GaREIA Headquarters.
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