Sunday, 7 Aug 2022

Real-life Monopoly man used board game obsession to build empire of 39 houses

Ever since he was a child, George Markoski wanted to build a property empire of his own.

That wish was fuelled by an obsession with Monopoly, the iconic board game George first played – and won – at the age of just five.

Now, 50-year-old George has 39 homes, an income in the millions and absolutely no need to have a job – so he doesn't.

He told the Australian Daily Telegraph his wish to enter the property market came early.

George said: "I wanted to buy ever since I started playing Monopoly as a five year old.

“My family struggled to make ends meet and I knew I’d never be inheriting a fortune, but I saw property had made a lot of people into millionaires.

“I don’t need to work now, my properties make my money.”

Markoski was influenced by the entrepreneurial board game's ideas of hard work and ingenuity.

But his empire now relies on a bit more than just a roll of the dice.

George follows the markets, regional data and business confidence religiously.

Far from making his life more complicated, that fealty for facts makes George's job one of the easiest in the world.

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He said: “There are 16,000 suburbs in Australia, sometimes they are going up and some are going down.

“There will always be good and bad but we are fortunate that there is so much (research) to get an objective view of every suburb in Australia."

After buying his first house in Adelaide for $180k (£95k) in the early 90s, George hit a rut as his efforts to expand the business hit a brick wall.

None of the properties were appreciating in value and he was working long hours just to pay off their mortgages.

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But after shifting to interest-only loans and thinking much more about the timing of his purchases, he was all set.

That $180k house is now worth a million – more than £500k.

George explained: “They say real estate is all about location, location, location. It’s a load of crap.

"It’s about timing, timing, timing. If you buy at the right time you can double your money.”

By the age of 37 George had 10 properties, which has now multiplied to a stunning 39.

Yet despite his immense success George hasn't yet ventured into the big red tokens, deciding against building hotels – for now.

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