During the on-and-off property booms of the last 15 years or so it must have seemed like the easiest thing in the world to buy a property, maybe slap some paint on it, and sell it on six months later for a massive profit.
Except it was never really that easy, and it’s even less easy now that the boom is over. To become a success in real estate you need to master a whole universe of terms, tricks, and transaction types.
Bank Foreclosure Millionaire, a new educational game from successful property developer Terry Bontemps, is the perfect way to learn all about how to invest in property for profit.
Here’s how it works. You have an hour per game to accumulate as much cash as possible in the real estate market. Starting with a snazzy 3D gameboard, you can tap on properties to examine them before entering negotiations and going in for the kill.
Through the timeless medium of questions and answers, the game gives you a grounding in a wealth of property-related topics. These include how to renovate, manage, and sell properties to various different kinds of buyer – like owner-occupiers and landlords.
You’ll learn how to negotiate with both buyers and sellers, how to conduct a thorough financial analysis, and how to structure deals so that they put a decent chunk of change in your pocket after costs are factored in.
Bank Foreclosure Millionaire serves up a huge number of different transaction types. There are houses in probate, fixer uppers, units of multiple residency, fire-damaged buildings, luxury properties, and foreclosure auctions.
Not sure what all of these are? Worry not. By the end of your first hour you’ll have a decent command of the terms that real estate developers bandy about while laughing en route to the bank.
You might think a crash course in property development would be a bit intense, but Bank Foreclosure Millionaire does a great job of entertaining as it educates. This is primarily thanks to some charming presentation and the unique gameplay structure.