One of the best ways to learn the rules of real estate investing… and investing in general… is by playing the Cashflow 101 board game. Created by Robert Kiyosaki, the new version offers even more insight into different investment strategies and new ways to expand your financial intelligence.
That’s the end goal of playing the game… boosting your financial intelligence. But that’s just one reason to play.
Here are 3 more reasons:
It is on of THE BEST networking tools around
This is true no matter what you’re doing in business and life. A certain magic happens when you get together with a small group of likeminded individuals who are there to boost their financial IQ skills.
As some point early in the game you will introduce yourself and tell the other players what you do for a living. You’ll share about your interests and goals. Just think what could happen if you’ve been looking to invest in real estate but don’t really know how to do it.
You meet other people at the game who already invest, and you meet people who can facilitate deals. Maybe you’ll end up working with them in their deals; maybe they will end up working with you in yours. Or maybe they’ll know someone who needs your services.
That holds true even if it’s not real estate investing. For example, I know a talented ghostwriter. Guess where she landed one of her biggest book-writing gigs? At a Cashflow game where she met a guy who knew a guy who needed a book written.
That led to even more business for her with that same client, and she reports being really happy that she attended that particular Cashflow game! (By the way, that chance encounter has amassed this woman about $200,000 thus far.) Oh, and she met investors at other games who have invested in her real estate deals.
I bet you’re suddenly more interested in attending a game now, huh?
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It helps you to use a part of your brain that may not get used too often… unless you happen to be an accountant or run all the finances in your business
There is an income and expenses sheet where you have to keep up with your earnings and expenses accrued while playing the game. You keep track of your profits and losses. You keep track of your paychecks and passive income that is generated from the properties you buy and/or invest in with other players.
There are doodad cards that you’re going pull from time to time. Doodads are like those things in life we don’t necessarily need but spend money on anyway to give us the feel-good. In the game the doodads are chosen for you and you deduct the amounts from your checkbook. (The older version of the game uses play money; the newer version has dispensed with the paper money and you keep a “checkbook” to track your money, which is more realistic.)
Doodad cards also include things like broken water heaters and flooding in your properties. Hey, that’s real life, too. You don’t get a choice but to pay to have these things fixed, but they’re still expenses that put a dent in your earnings.
How you keep track of your finances in the game reflects how you keep your finances in real life. The great thing is that bad habits can be broken and by playing the game and getting good with the math there can translate to how you keep your finances at home and in your business!
When I host games I like to watch people and how they make decisions… and how they keep their “books.” That way I can help them pinpoint problem areas. If they choose to take my suggestions they tend to do better in the game. I’m hoping they take their new skills into their real lives, too.
To get out of the Rat Race (which is a big circle in the middle of the board) your passive income needs to exceed your expenses. How will you know if you’ve reached that goal if you don’t keep accurate track of your investments and money?
What happens on the board can happen in life!
his is a big lesson in the game. It’s fun to watch the AHA! moment happen when people are playing the game their first or second time. That’s when they figure out that what they are learning on the board actually applies to real life.
For instance, it can more beneficial to work WITH other players in your deals, especially the big deals. (There are small deals and big deals in this game. The small ones are starter deals that people typically do on their own, but once you draw a big deal… you need help from other players.) Unless you have amassed a whole bunch of money, you likely can’t do a big deal on your own. This helps you build a team mindset, which is critical to you as an entrepreneur. (That’s what you want to be, right?) And this is exactly what happens in real-life investing.
In the game there are multi-level marketing cards, deal purchase cards for all types of properties, market opportunities where you can sell properties and make a profit, and more. All of this happens in real life. All of these opportunities exist once you know how to find them. That means you’ll want to talk to likeminded individuals who have deals (bird dogs and wholesalers), may be in a tough spot and need to sell a property (sellers), people looking to purchase properties to fix and flip or rent out (buyers), and those who want to participate in any number of ways by letting you use their money in your deals (investors.)
If those reasons don’t get you to a Cashflow game, I don’t know why not. But I’m not stopping with these. I’ll give you more reasons you should be attending Cashflow games in your neighborhood in the next installment of this 2-part article.
Join me for a fun game that teaches you about the merits of investing in real estate. Check the next event here:
You can look forward to a little education at the end of the game, too. I like to go over what you learned in the game, any AHA! moments you had, and I like to answer all your questions about investing, about what I do as a long-distance investor, how I got on this path and how deals work.
In the 1st part of this article, we covered a few reasons why it’s good to play the Cashflow game:
1) It’s one of the best ways to learn the rules of real estate investing and investing in general, because it was created as a way to boost your financial IQ.
2) It is one of THE BEST networking tools around, even if you don’t participate in real estate investing.
3) It helps you build your math skills. Yep, one of the things you learn is how to keep your balance sheet in order. The new version of the game has dispensed with paper money, so you also are required to keep your “checkbook” in order. (That’s a big lesson for a lot of people.)
4) What happens on the board can happen in life! Like I said in the 1st installment of this article, it’s fun to watch people when they realize what they are learning on the board actually applies to real life. (What they do in the game with their money and financial/investment decisions is how they operate in real life, too, which is what they need to improve upon typically.)
Those are four great reasons to play the game, but I have a couple more!
5) If you learn the game and can teach it to others, you will dominate your market. Stick with me on this one. What I’m saying is that the old adage holds true. Here who educates dominates.
What this means is that once you’ve played the Cashflow game a few times, you’ll start to understand how investing works in the real world a bit better. You will naturally find yourself helping other newer players. As a result you will start feeling pretty good about your skills.
You might find that you want more of that feeling. After all, what is better than sitting with a small group of likeminded individuals talking about real estate deals? To me there are few things I’d rather do (aside from spending time with my family).
When I first started playing the game I didn’t know all the benefits I’m sharing with you now. I didn’t know it’s a great networking tool. I didn’t know it would actually boost my understanding of doing deals in real estate. I didn’t know it would teach me new ways to communicate my goals.
Once I felt confident that I could host my own games, I put away my fears and started Meetup groups and began inviting people to them. As I got better and better at leading the games I added a short educational component to them. That way I could answer everyone’s questions not just about the game but about what I have going on, which is a lot!
If you learn the game and can teach it to others, you will dominate your market. Stick with me on this one. What I’m saying is that the old adage holds true. Here who educates dominates.Today I invite all sorts of people to my games. I host them as often as I can… and my phone keeps ringing, because people now know I’m a long-distance investor with two teams, one in Barcelona and one in North Carolina where I have properties (and am always looking for more).
The Cashflow games allow me to literally show people the different ways in which they can participate with me if they want. Or just show up to play a fun educational board game! (I love educating regardless of whether people end up participating with me in my multifamily properties or not.)
6) You’ll be pushed out of your comfort zone!! This may sound scary, but it’s something that MUST happen if you intend to grow. Whether that means growth for your business or growth in your interpersonal skills, you can’t just keep doing what you’re doing now and expect a different outcome. (You know what they say about that, right? It is the definition of insanity.)
If the idea of playing a board game with strangers makes you break out in a cold sweat, well, that is a clear sign that you need to do that thing which scares you so much.
I have played the Cashflow game with people who were so nervous that they couldn’t stop shaking at first. But in short time they realize they are having fun. There is no weird sales thing going on… there is no agenda. It’s just a way for them to build their financial intelligence in a way that makes a lot of sense. (It’s a game… nothing to be fearful of.)
And talk about being nervous, boy, was I ever anxious the first time I decided to host my own games. That first one was really something. But I eased into the role of game leader. The cool thing… and I mean really cool thing… is that I was able to help others learn the game.
Then all my corporate leadership training kicked in!!
If you read my bio on this site, you’ll see that I have been a “coach” for a long time, training Fortune 500 company heads in leadership skills. Working with all types of personalities, I’ve learned a few things about people. One thing is for sure… you absolutely have to get out of your protective bubble to experience new things if you want to grow. The Cashflow board game is a great way to put yourself out there.
First you will play it; then you will teach it to others; then you might even host your own games, depending on your goals. For me, hosting games is perfect!
Of course, you don’t have to wait to meet me face to face to ask questions. You can always just CONTACT ME NOW and schedule a time to talk.
I’ll get back to you within 24 hours.
I also invite you to browse my site, because it has a lot of great information to offer in both video and written format.