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How Real Estate Empowered Me to Buy a Lamborghini (And What It Means for YOU!)

by Mark Ferguson on June 22, 2014 · 76 comments

  
How Real Estate Empowered Me to Buy a Lamborghini

I like to write about real estate investing, but I also like to write about goals, self-improvement and being awesome.

I’m sitting here, right now, writing this article at my desk while enjoying the view of my 1999 Lamborghini Diablo that was fittingly delivered to me on father’s day.  I have been a blogger with BiggerPockets for quite some time and I am on the forums a lot as well, and I know that buying a Lamborghini does not fit in well with the BiggerPockets idea of building wealth.

However, I will try to explain exactly why I bought a Lamborghini, why I think it is a great investment financially (alright, great is a little too strong of a word here; okay investment).  I did not buy the car to be a great investment, I bought it for me and to enjoy it.

I Could not have Bought the Lamborghini without Making Goals

I started making very specific goals last year.

I had done well financially with broad goals prior to making specific goals.  Once I made more specific goals things took off for me and my family.

I took over my father’s real estate business that we were partners in, I bought a new house, I bought more rental properties and I currently have 9 fix and flips going.  There are 9 people on my team to help with the businesses and sell houses.  Buying the Lamborghini was one of my goals for 2014.  Here is a great article on why you should set big goals!

Why was Buying a Lamborghini a Goal?

I have been in love with cars since I was a kid.

I remember my sister buying an exotic car book in 1985 that I thought was the most awesome looking book I had ever seen (I was 6).  My birthday happened to be coming up and my sister gave me that car book for my birthday.

I still have that book with a torn cover and pen marks all through it.  In that book was Ferrari’s, Lamborghini’s, Porsche’s and many more rare and exotic cars from 1985.

I always loved the Lamborghini Countach more than any other car.  It looked like a spaceship and was unique to any other car available.  I thought about Lamborghini’s all the time as a kid and when I was a teenager and even in college.

Then in my young adult life I started to think I would never be able to afford a car like that and it was hopeless to think about.  I put buying a Lamborghini out of my mind, although I still loved looking at them and reading about them.

Fast forward to two years ago and my real estate career had become established, I was buying rental properties and making good money.  I was stressed about money, I was stressed about losing the income I had worked so hard for and it seemed like no matter how well I did, there was a possibility it could all come crashing down.

Then I started listening to self-help CDs (John Assaraf, Tony Robbins, Harv Ecker, Joe Vitale) and I enrolled in a personal coaching program (Jack Canfield).  My life changed and I learned stressing about money did me no good whatsoever.  Stressing about anything in life does no good, because stress makes us think poorly and make bad choices.

Related: 3 Reasons Why Attending Conferences Is Essential For Your Success In Real Estate

I learned to relax, not worry about the future and focus on the now.  I learned to let past mistakes go and learn from them, instead of think about what life would be like if I had done something different.

Jack Canfield coaching taught me to make a lot of goals.  I made 100 of them ranging from my plan to purchase 100 rental properties to hiring someone to take pictures of houses for me (BPO and REO work).

Once I made that list of goals I started accomplishing them faster than I could imagine.  I listened to my goals on my phone and I made stories of my future life that evolved around those goals.  One of those goals was to buy a Lamborghini Countach in ten years.

Why My Goals Constantly Change

I thought it would be a stretch to be able to buy a Lamborghini in ten years, but things change!

I also had a goal to buy my dream house in ten years and I ended up buying it 6 months later!  I described the size of the home, the garage, the lot size, the master bedroom, loft and other details I always wanted.

We weren’t even looking to move when my wife found the house for sale, because she made a wrong turn and saw the for sale sign.  I was at a conference at the time and was ready to blow off the idea of moving, until she said it had a five car garage.

Related: Why it is Okay To Fall Short of Your Goals

I loved the idea of buying a Countach, but I had never driven or sat in one.  I started doing more research and I tried to find a Countach I could at least sit in.  The problem was they made very few Lamborghini’s in the 1980’s and there were only a couple for sale in the entire US.

While I was at a conference in Dallas the end of last year I did track down a Lamborghini Diablo at the Lamborghini of Dallas dealership.  I talked to an incredibly knowledgeable salesman who told me flat-out the Countach was not a good car.

He also was about 5’11 and said he didn’t fit in the car.  I am 6’1 and wear a size 14 shoe, so I saw an immediate problem.  I was able to sit in the Diablo and I fit, barely!

Remember it is not a bad thing if you make big goals, but fail to reach them.

Why a Lamborghini Diablo?

A Countach is a very rare car with a V-12 engine, that is not comfortable or easy to drive.

The other problem is a Countach could have been purchased for $80,000 three or four years ago.  This seemed like a bargain to me and I guess it did to others as well, because they are now worth $300,000 to $500,000.

However the Lamborghini Diablo is at its low price point in my opinion.  It is just as rare as the Countach, drives better, is more reliable, faster and more comfortable.  The Diablo was also the first production car to go 200 miles per hour.  In 1998, Audi bought Lamborghini and the cars got even better.  The 1999 and 2001 Diablos are the best models and have updated interiors and are more reliable.

My Lamborghini Diablo

Photo Jun 15, 10 28 21 PM

My Diablo is a 1999 VT (all wheel drive), Alpine edition that is monterey blue.  They only made 12 Alpine editions and it basically had an upgraded sound system from Alpine.

The car has 20,000 miles on it and was shipped to me from Washington.  The premier Diablo dealer in the country had it for sale.  I had the car inspected by a third-party before I bought it and some bushings, spark plugs and a door strut were replaced as part of the deal.

This dealer has a tremendous reputation and I ended up buying the car without ever seeing it or driving it.  In fact I had never driven a Lamborghini Diablo until Fathers day when it arrived.  The car was just over $125,000 and had a sticker price of $300,000 when it was new.

Why I Bought this Car so Soon

My goals change often and things have been going great with my real estate team, fix and flips and my blog.

I made the goal at the end of last year to buy a Diablo in 2014.  I was planning on buying one at the end of the year, but this was the perfect car, in the perfect color and a great price.  I could not pass it up as there were maybe 20 cars made in this color ever.  I can tell you I am more impressed and happy with the car than I ever thought I would be and my wife loves it as well.

lambo office

Why was Buying a Lamborghini a good idea?

First off the maintenance is expensive, but not as bad as you may think.

The car needs an oil change every 7,500 miles and a major service every 15,000 miles.  Those run about $800 and $3,000 respectively.  My insurance is $800 dollars a year and I did finance the car.

I got a 12 year loan at 5% interest with 10% down, which allows me to buy more rentals with that money.  I could have paid cash, but I can make much more on my rentals that the 5% interest rate costs me.

Not only do I smile every time I see, think or drive the car (positive attitude is a huge reason for my success).   About 50 people stop to take pictures of it every day and I am currently thinking of ways to capitalize on all the attention it gets.

Not only do I expect the car to increase in value over the years, I think I can make a lot of money from the attention it gets.  It also may be a great in to the luxury home market!

If anyone has any great ideas for ways to make money off the car, let me know!

Be sure to leave your comments below!

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{ 76 comments… read them below or add one }

tony June 22, 2014 at 6:32 am

Great article Mark… We (my wife and i) too are starting to make goals a part of our daily routine and noticing that things just fall into place when we do

As far as making money on the car … why not rent it out for $1000 per hour

I would probably pay it to drive it around for an hour… and there are hundreads of other reasons that people would rent it

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Mark Ferguson June 22, 2014 at 8:57 am

Hi Tony, goals are awesome. That is great you are creating them. I thought about renting it out, but then I need special insurance and I would be freaking out about others driving it. A gallardo would be a better car to rent out. Easier to drive, less rare and easier to maintain.

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Mark Ferguson June 22, 2014 at 4:44 pm

Aarron, are you saying you would never buy a nice house or car because you are afraid of what others might think? How nice is too nice? Where is the line drawn? Do you sacrifice your own happiness for the sake of others?

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Simon June 22, 2014 at 6:49 am

Great job Mark, congrats on your Diablo!! Beautiful car. I also loved the Countach when I was a kid and dreamed of owning one, so I can really relate to this article. I like the idea of having a “Supercar goal” using REI funds. Proceeds from my real estate investments to date could pay for, maybe, a 2001 Camry….so I’ve got a ways to go!!

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Mark Ferguson June 22, 2014 at 8:59 am

Thank you Simon! It takes time to build up an income with real estate. But once the ball gets rolling it really starts to snowball. I think at some point I still may want to get a Courach. :)

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Rik Black June 22, 2014 at 7:02 am

Driving around in a car like that, in a city like Greeley, can make you a target for resentment. I found that out when I drove around Pueblo, Co, in the town’s only MB 500SL. Today, I own many NC beach houses, free and clear, and drive 1997 Ford truck. I speak ‘local’ and I look local. When I buy and sell real estate, I am just another one of the hoi polloi.

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Mark Ferguson June 22, 2014 at 9:03 am

Hi Rik, I think you would be surprised how much money is in Greeley. It is a little different than Pueblo. The other day I counted 5 houses with 1.5 miles of my house with over 15,000 square feet. Yet Greeley has one of the lowest average prices along the front range.

So far the car has had nothing but positive reactions. I get about 50 pictures taken of it a day. I just hope I don’t cause a car accident as one lady stopped at a green light to take a picture of it the other day!

What kind of resentment did you see? This is not an everyday driver and I have other cars I can take to meet with clients or sellers.

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Rik Black June 22, 2014 at 12:28 pm

My wife taught at one of the city’s elementary schools. A couple of teachers, with whom she had never had a moment’s conflict, got caught keying the Benz one morning. It is that kind of sentiment that convinced me to become a firm believer in the old Japanese adage, “The nail that stands up, gets hammered”.

I no longer give interviews to the newspapers. The last one I gave was in NC’s largest newspaper. That was in May of 2005. I warned people that the insane beach house ponzi flipping game would come to a horrible end. Real estate agents, who didn’t even know me, started calling me up, sounding angry enough to burn crosses on my lawn. There was even a letter written in our local newspaper, accusing me of trying to cause the downfall of the whole NC real estate market.

Consequently, I’ve learned to go about my business while keeping a low profile. In July, a local magazine is coming out with a glossy pictorial of one of my renovated houses. I told the editor not to mention my name anywhere in the article.

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Mark Ferguson June 22, 2014 at 3:05 pm

Rik, I completly understand that mindset. I personally try not to let others negativity or ba attitudes affect me. I had worries about hat people would think of me after buying the car. The reactions have been 100 % positive so far. Maybe people are saying crap behind my back, but I don’t care. I do what makes me and my family happy and I share what I have as much as I can.

Buying this car has been a dream for a long time. I would not let someone I don’t know stop me from a dream.

Rik Black June 22, 2014 at 4:23 pm

Mark, I took my own advice, and sold a gang of properties before 2007. I thought I’d be safe sitting on the cash, until I read this today:

http://www.eutimes.net/2014/06/australia-seizes-millions-from-bank-accounts-us-to-follow/

Aaron June 22, 2014 at 4:31 pm

Neat Japanese proverb. A somewhat mentor to me once made the comment “The whale who surfaces gets harpooned.”

Mark Ferguson June 22, 2014 at 4:42 pm

Rik, I tried to find one credible news source that talks about this issue. All the articles were from blogs or little newspapers with obvious agendas.

Sharon Tzib June 22, 2014 at 4:57 pm

Too many people let one isolated incident in their lives become “their story.” I’m with you, Mark, I would never let strangers dictate the way I choose to live. One of my favorite quotes:

“It’s none of my business what people say of me and think of me.” Anthony Hopkins

Mark Ferguson June 22, 2014 at 5:07 pm

Sharon, that is an awesome quote. Reminds me of a similar one that I always butcher and can’t remember who said it.

“When I was young all I cared a out was what other people thought of me and I lived my life accordingly.

When I was middle aged I stopped giving a crap about what others thought and I lived my own life.

When I got to retirement age I realized no one was thi long of me, they were only worried about themselves this whole time. “

Rik Black June 22, 2014 at 5:20 pm

Mark, you didn’t dig deeply enough. This is from Australia’s largest selling newspaper, the Herald Sun:

http://moneysaverhq.heraldsun.com.au/news/government-grabs-360-million-from-idle-household-bank-accounts/story-fnkrnsiy-1226950657835

The ECB is now pushing EU banks to charge negative interest against their customers’ accounts. One of the NC banks, that I park money in, sent me a letter informing me that it will charge me for any money I keep there that exceeds the sum of $5 million. Basel III is changing everything.

Mark Ferguson June 22, 2014 at 5:25 pm

Rik, that link doesn’t take me to the article you mentioned. Just a bunch of ads on getting cheap gas.

Nevertheless I am not sure what that has to do with this article or our conversation. I am certainly not letting my sit idle in bank accounts.

Rik Black June 22, 2014 at 5:35 pm

Here’s more:

“Finance gurus David Koch and Mark Bouris, AFL star Lance Franklin, and Australia’s 10th richest man Kerr Neilson have joined thousands of Australians, who have had their accounts swiped for unclaimed money, superannuation and life insurance.

Tennis champion Samantha Stosur is owed $1219 through unclaimed company shares, while Swans star Buddy Franklin can claim $520 on a National Australian Bank account.

Others eligible to claim money include ANZ Australia CEO Phil Chronican, Star Track Express founder and multi-millionaire Greg Poche and controversial former Judge Marcus Einfeld.

Koch — the host of Sunrise — told The Daily Telegraph he had been alerted about the ANZ account, which was used as a share trading account.”

http://moneysaverhq.heraldsun.com.au/news/news/celebrities-lose-savings-as-part-of-federal-governments-cash-grab-on-inactive-accounts/story-fnkrnsj1-1226951603602

Rik Black June 22, 2014 at 6:24 pm

Mark, the EU Times is an aggregator site. It re-posts article from from other sources. Some of those sources are credible and some are not. However, the article from Australia’s largest newspaper, that appeared in the EU Times, is credible.

Does any of this have anything to do with the car you bought? No. Does it have anything to do with real estate? Emphatically, yes.

When my second child was born, 12 years ago, I realized that I had no pension, and that I had to do something for the future. I went from being a local real estate agent to becoming a declarant on projects many miles from my home in Colorado. I had never built anything before, but was able to figure out how to buy land ( with TIC money), to build and pre-sell over 140 houses from a distance of two thousand miles. My goal was to put away enough cash for my family to live on as possible.

Unfortunately, after making the money, even the banks that pay me almost no interest, are becoming increasingly less safe. My goal was to make enough money so that we could live off the interest. The Emergency Economic Stabilization Act of 2008 changed all that. Lately, I’ve been forced to build again, for cash flow purposes, and land bank much of the profits from the sales of the properties that I don’t keep. So, even though I have no debt, I’m stuck paying property taxes on many infill lots, in hopes that those lots will ultimately bring me a better return than the money I have in the banks.

In five years, you may no longer be driving that car, even though buying that car was your goal. In five years, I may be losing the money I have banked, even though making it and living of of it was my goal.

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Mark Ferguson June 22, 2014 at 6:36 pm

Rik, I clicked on the source for that article and it was a website titled the economic collapse of the world or some thing, not an AU newspaper. Seeing as how I found zero credible new sites talking about this, I will mark off as scare tactic but websites and extremist trying I get attention

Even if it was real, set up one automatic payment from yor account each year and problem fixed.
If the governments decide to take our money I won’t be able to do anything about it so why worry about it. It will do me no good to worry. I’ll get to enjoy the car for at least five years!

Rik Black June 22, 2014 at 5:38 pm

My mistake. The article I meant to send was from the EU Times:

http://www.eutimes.net/2014/06/australia-seizes-millions-from-bank-accounts-us-to-follow/

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Mark Ferguson June 22, 2014 at 5:52 pm

The EU times is not a credible news source. http://rationalwiki.org/wiki/European_Union_Times

I still don’t know what all this has to do with the article.

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Dan June 22, 2014 at 7:16 am

Awesome Mark! Congrats! Love to see it

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Mark Ferguson June 22, 2014 at 9:04 am

Thanks Dan, if anyone is in the Greeley are I would be happy to show the car off.

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Nick June 22, 2014 at 7:19 am

Mark,

Congrats! That is so awesome you are realizing your dreams. I love the idea of having super big goals to strive for. The background of my computer is a custom made picture collage I made of the most important things to me in life and the things that I want really badly. Seeing it everyday I turn on my computer is such a great feeling and motivational!

I’ve noticed you seem to be a big fan of the personal development coaching. I’m a huge fan of the guys you mentioned as well but I’m just curious what their coaching runs price wise? T Harv is my favorite but am just curious.

Thanks!

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Mark Ferguson June 22, 2014 at 9:06 am

Hi Nick, the Jack Canfield coaching was expensive and that is one reason why I did it. I wrote an article about it if you look at my posts. I liked that it was expensive because it made me go all in. It was over $5,000 and well worth it.

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Karen June 22, 2014 at 7:44 am

Mark, CONGRATULATIONS on getting the car! You had this as a goal and you did it! Woo hoo!!

I am in the process of trying to set some goals. For me right now, It’s not about the big hairy audacious goals, I just want to have a small goal and have a small success and then snowball from there.

Again, congrats on the car! Enjoy!

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Mark Ferguson June 22, 2014 at 9:09 am

Thanks Karen! I think it is important to have big goals because they how you the most motivation. I break down my big goals into little goals and it makes the big goals seem more achievable. Any goals are good, but don’t ignore the big goals.

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Jason June 22, 2014 at 8:51 am

That ought to drive those MMM folks crazy. I love it, great car, great goal. Well done.

Jason

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Mark Ferguson June 22, 2014 at 9:10 am

Thank you Jason! I am waiting for mmm to post a relative article. :). Lol

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Sharon Tzib June 22, 2014 at 9:14 am

Haha, yes, this was definitely not a very mustachian thing to do ;)

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Mark Ferguson June 22, 2014 at 10:08 am

Yeah. There have been a few conversations on mmm about the possible purchase. I dot think mmm actually believed I would get one. He lives in Longmont. I can offer him a ride in it. Lol

Sharon Tzib June 22, 2014 at 8:52 am

I read recently people with depression usually live in the past and people with anxiety usually live in the future. Living in the now is definitely much healthier and productive, for sure!

Congrats on your car, Mark! I see lots of realtors pose with their pets or kids in their marketing, so perhaps you can start using your car in yours and become known as the exotic car guy. You could park it outside of the open houses your team holds, and I bet your traffic would double :)

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Mark Ferguson June 22, 2014 at 9:12 am

Very true Sharon! I had a lot of anxiety before. I had thought about the open house thing. Definitely get people to stop!

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Mike McKinzie June 22, 2014 at 9:21 am

I am sitting in one of my goals right now, a brand new Keystone Montana Fifth wheel, which I pull with my 2013 Silverado Diesel. For those that don’t know, the MSRP for the Montana is $106,000 and the Silverado is $65,000. And like you Mark, I financed them and bought rentals to let tenants buy them for me. Heck, the truck is at 2.79%. Why a fifth wheel? Because my wife LOVES the beach and I LOVE the mountains. Today, we are in Red Bluff, CA, staring at Mt. Shasta and in August, we have two weeks backed up to the sands of Mission Bay, San Diego. September it is Oregon and Washington, including Woodby Island. Setting goals, updating goals, adjusting goals and keeping a positive attitude is key to reaching your dreams. Congratulations on your Lambo! One of the things that helped me get here is that for my first twenty years, nearly every profit I made went back into my investments. (unfortunately, divorce cost me half of my investments half way through). I have never had a coach, trainer, mentor or teacher except for my father. Thank you for a great motivational blog, it encourages all of us!

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Mark Ferguson June 22, 2014 at 10:01 am

That’s awesome Mike! It definitely takes a lot of saving and investment for me to be able to make a purchase like this. It’s funny, I like now cars but I still have never bought a new car.

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Mike mckinzie June 22, 2014 at 12:29 pm

It’s funny Mark, I never cared about cars and I never cared about music. Most of my friends wanted fast cars and loud music. All I ever cared about was pickup trucks, shotguns and gun dogs. And I am from So California. But whatever our passion, REI allows us to pursue them. I paid more for my Italian Shotgun than I paid for my first NEW truck, a 1980 Toyota. You have a great writing style and I enjoy reading your blogs.

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Mark Ferguson June 22, 2014 at 4:55 pm

Thank you Mike! I appreciate it. The taxes and tags on this car were more than my daily driver for 10 years, a 1991 mustang 5.0 convertible with a supercharger installed. I still have that car.

Gregg June 22, 2014 at 9:25 am

Hi Mark
First off congratulations to reaching your goal.
Some suggestions for car rental

Advertising Photo shoots/Music Videos/Commercials/TV & FIlm are sources of business. Personal/ Corporate Event is another. Seems like Denver would be the main market.
-Consider a rental entity, commercial liability insurance and certified/compliance inspections in some form.
-3rd party additional insured rider for days needed provided by renter/production company. If not available you can provide one for an additional fee or direct them to production insurance agents
-For media a flat day rate not including travel time based on 8 hrs, overtime @ xx is common but everything is negotiable.
-For personal events like weddings or 50th birthday a 1/2 day rate option due to budget
-Relationship with a “Car Stork” to deliver within the rental area if not accompanying the car* and for weather, wear and tear.
-Go the Colorado Film Commission website and review their “Production Guide” for: Art Directors, Teamster Captains, Property Masters, UPMs, Producers and established luxury car rental agents. Some rental agents will work on consignment and simply place the car in a their data base and then manage the rental if you accept the booking.
-A system of checking in/out, having an attendant while in use until you build a relationship with someone, a wee bit of marketing, terms & condition sheet, release of liability waiver (driver), etc. For example are you willing to let the car be put on a process trailer or let talent drive it on a public street verses a stuntman?
I’m sure there is a local go to guy who can answer the finer points once you make the rounds in the production community.
Hope this helps
G

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Mark Ferguson June 22, 2014 at 4:51 pm

Tha is Gregg! Great info. I already emailed the film institute.

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Engelo Rumora June 22, 2014 at 9:35 am

Hey Mark,

Freaking awesome :) :) :)

Love it.

I was only a kid when I saw a few of these things driving around but with all the other newer versions out today I still think the Diablo and the Ferrari Modena 360 (both came out around similar times) are the best looking.

It is crucial to celebrate success with purchases like you have just made and smaller scale purchases for others that might not be at that level yet.

In my opinion these things keep us going and pushing harder. I have a list of around 20 things with some are materialistic and others more investment orientated.

Its great too see this list every day and fantasize about everything on it.

It definitely picks me up when certain things don’t go the way I planned.

Thanks for your post and enjoy the ride hehe

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Mark Ferguson June 22, 2014 at 10:06 am

Thank you Engelo! I agree the older cars look better. The newer cars all look so similar by trying to be the most aerodynamic. I don’t like the looks of the gallardo or murcialagos nearly as much as the diablo. I like the looks of the 360 and 355 Ferrari as well. You can pick those up for less than 75k now.

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Engelo Rumora June 23, 2014 at 7:57 am

Thanks for your reply.

Are you serious? A 360 for less than $75k? lollol

The last time I checked was 2 years ago while I was still in Sydney. The cheapest one was $120,000.

Thanks

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Mark Ferguson June 23, 2014 at 8:47 am

Here is one for under 70k. http://www.dupontregistry.com/autos/search/DRauSearchDetails.aspx?itemid=1987098

The Ferraris are much more common and I believe require an engine out oil change. There are 91 360’s or sale right now on Dupont Registry and only 7 Diablos.

Al Williamson June 22, 2014 at 9:35 am

Mark,
I’m very proud of and inspired by you. Well done and thank you for reminding us of our potential.

I currently met one of my own BHAGs. I’ll write about it soon.

Keep up the inspiration Mark.

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Mark Ferguson June 22, 2014 at 10:07 am

Thank you Al! I cant wait to hear about it.

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Aaron June 22, 2014 at 4:38 pm

A guy I learned a lot from used to say “Take your income, spend 10% on education, 10% on investing, give 10% away, and just spend the other 70%.” While I don’t agree with those numbers exactly, he also used to say if you just invest all your money, eventually you die and the only thing you will have accomplished is creating a rich old widow lady who will go to Hawaii and spend all your money tipping those young, sun tanned cabana boys! LOL

Congrats you realizing your goals. What’s next?

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Mark Ferguson June 22, 2014 at 4:54 pm

Thanks Aaron!

I think people should save much more than 10% personally.

SOne of my long term goals are to buy 100 rentals and a lamborghini a Muira.

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John Feeney June 22, 2014 at 5:49 pm

Congrats on your car Mark! I can imagine your enthusiasm every time you look at her and realize all that you have accomplished to get to this point. I see it as an award that you gave to yourself to acknowledge those accomplishments.

I mentioned to my associates your recent purchase and right away one of them said “is that why I keep seeing a Diablo around?”. It is a unique, highly visible, and attention grabbing car. Take advantage of it in your marketing! I like the high end open house idea!

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Mark Ferguson June 22, 2014 at 8:28 pm

Thanks John! I’ll have to get some high end listings to get some high end open houses. Haha. I’ll give you a ride next time I see you.

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Rick Harmon June 22, 2014 at 10:23 pm

First off, financially, a Lambo is a depreciating asset.Lambos are going to depreciate 10-15% year. If you can afford that, who cares?
That’s not a bad thing. It’s just not accurate to count on appreciation. I’ve watched this for well over 40 years, going back to Jaramas and Isleros and was a regular Concours judge when Ferrucio was still around.
I’ve had lots of exotic cars (although never chose a Lambo). I like driving. Real estate has made it possible that I can own and drive whatever car(s) I want. I do NOT finance them. Three weeks ago I sold my 2007 Bentley Continental GT and upgraded (IMHO) to a Ferrari 599 GTB Fiorano.
I’m motivated by interesting cars and fascinating people. My early interest in Ferraris lead me to join the Ferrari Owners Club in 1975 which provided access to all sorts of very wealthy, interesting (and many high-profile) people. Few that I knew of needed to finance their cars because they were not significant in proportion to their net worth.
That being said, if you enjoy nice cars, they motivate you and are not an obsession that causes a financial burden or distract ice business interference, then go buy what you want and apologize to no one!

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Mark Ferguson June 22, 2014 at 10:42 pm

Thanks for the comment Rick,
I would disagree with you on Lambos being a depreciating asset. At least after a certain point. The Isleros, Jaramas, Espadas are much less desirable lambos than the more iconic Countach, Muira and I think Diablos. The Muiras went from $250,000 a few years ago to $800,000 today and te Countach went from $80,000 to $300,000 in the last few years. Anyway, I am not counting on it appreciating sine I can’t see myself selling it.

Those are some nice cars you have had!

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Tim Davids June 23, 2014 at 6:29 am

Make money off the car by putting “I buy houses” on it ;)

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mark ferguson June 23, 2014 at 10:00 am

Haha, that would be funny

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Priya Patil June 23, 2014 at 10:31 am

Hi Mark,
I have been following your blogs and articles from1 and half year. I get encouragement after reading your blogs. I want to invest in a rental property but in my market it is not feasible to do so. I am curious to know if you can make me your partner in couple rental properties as it comes. I live in UT and not aware of your market but as per your talk, you are saying you make pretty decent cash flow on each of your properties. I would like to know if that is possible for me staying apart. I don’t mind driving and seeing and checking the property if good deal comes up.

I am highly interested in owning a rental property but not sure where to start out. I want help into that part.

I will appreciate all your advice and comments.

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mark ferguson June 23, 2014 at 3:07 pm
Michelle Y. June 23, 2014 at 11:33 am

Mark, that is so awesome! I know from following you on your blog that this is something you have wanted for a long time so a big congratulations to you. Hopefully, I’ll get to see it the next time I come down to see Justin.

That is too funny about giving MMM a ride in it!

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mark ferguson June 23, 2014 at 3:06 pm

Thanks Michelle, Tell Justin to make sure and let me know the next time you are coming down. I will make sure I drive it, unless I am playing golf that day. I can’t find a way to get clubs in it yet.

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Michelle Y. June 23, 2014 at 3:17 pm

I will! You need a sunroof for the golf clubs!

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Sharon Vornholt June 23, 2014 at 3:38 pm

Congrat’s Mark!!!!

Like you, I am a big believer in goals and how the correct mindset actually helps you to attain those goals. I think it’s great that you achieved this milestone.

Sharon

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mark ferguson June 23, 2014 at 3:42 pm

Thank you Sharon! I love your attitude as well.

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John Soforic June 26, 2014 at 4:26 am

Mark,

Something about your articles always pulls a response from me. I admire how you not only appreciate the power of goals, visualization, etc., but also how you have the WILL to share your ideas. The point of your article (as I see it) was to show what can happen if you stay focused mentally. I live that way, but very rarely share my thoughts because most people (in my area) aren’t able to grasp it or they just think it’s “just fluff.” I study the same material as you and I live on a similar path. I focus daily on goals. I am 48 years old and a multimillionaire, I am a chiropractor, I am a landlord or 43 rentals, and I have a flip business with a constantly changing inventory. In other words, I don’t SLEEP much. I cannot imagine overseeing 9 flips simultaneously like you. So in the end, I say keep it up. I suppose there are many people you may turn on to their own potential by showing your results. Thanks for showing what can be accomplished by thinking right and focusing on goals. It’s inspiring.

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Mark Ferguson June 26, 2014 at 10:43 pm

Thank you John! I could not do what I do without a great team. I was very hesitant about sharing my views on things, but when I did I received an incredibly positive response. That pushed me to keep going and not be shy.

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Cristina Abellar June 27, 2014 at 1:21 am

I always find your articles worth reading & very inspiring. I had terrible days where things go wrong one after another. When I have these moments I feel so alone & turn to my faith in prayers. You are the answer to my prayer Mark! Thank you for taking the time to share your positive outlook in life, for all the ideas you have, for your constant reminder of setting goals & aiming high.
Congratulations to another well deserved luxury! Please continue to share your thoughts because it meant the world to many. I will be first to sign up to your coaching/motivational seminar which I’m sure is not far from happening. Kudos!

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mark ferguson June 27, 2014 at 9:13 am

Cristina, thank you very much! I am glad I could help. I don’t have any motivational seminars, but I do have a few coaching programs on my blog for investing.

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Timothy Trewin June 30, 2014 at 8:06 pm

Mark,

Thank you for this blog. It is good to see how setting goals can be so beneficial to people. It is good for beginners as well as seasoned investors to read. I also checked out your website and had to bookmark it as there is so much information on it.

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mark ferguson July 1, 2014 at 9:09 am

Thank you Timothy!
I am glad you enjoyed the article and found my blog.

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James Park July 2, 2014 at 10:07 am

Hi Mark,

Congrats on getting your dream car. Just curious, how did you finance your blue lambo for $126k purchase? Did you pay cash or finance it?

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Mark Ferguson July 6, 2014 at 9:51 pm

Financed it. I could pay cash but would rather invest that money. 12 years, 5.99% 15 percent down.

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Ron Springer July 2, 2014 at 2:59 pm

Hi Mark,

I had the exact same motivation when I started in the early 90’s: to cash flow high enough to afford a Lamborghini Countach. I first bought a Lotus Esprit Turbo, and two years later realized my dream: a 1987 Countach 5000 QV. Mine was a downdraft model; the fastest one they made. I spent 4 years with it and then bought an NSX. Five years later I bought a Gallardo. Three years later I got wiped out in the crash and had to start all over. I even went to Lamborghini’s 50th anniversary celebration in Italy last year. The cars have been a tremendous inspiration over the years–a roller coaster in my driveway–and I recommend them as incentive for any great achievement one wishes to pursue.

Next for me is an R8 or another Gallardo (trust me, they are spectacular). It’s so much better when you can drive them every day… Good luck with the Blue Devil!

Ron Springer

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Mark Ferguson July 6, 2014 at 9:53 pm

Thank you Ron! How was the Countach?
I have driven a Gallardo, but it was a rental and work out. The diablo is awesome!

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Ron Springer July 7, 2014 at 5:41 pm

The Countach was a dream and a bit of a nightmare. It drew a crowd everywhere, caused accidents, and got me a lot of action. I tracked it, top ended it over and over, drove it around 15,000 miles. Couldn’t park it anywhere. But it was the cannonball run fantasy. A magnificent spaceship that surpassed my expectations. But you can’t relax with one. You’re a rock star, and that’s tough to deal with. One of my buddies has one and he gets mobbed while I’d park my Gallardo, which no one seemed to notice, and help him deal with crowds.

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Mark Ferguson July 12, 2014 at 8:14 pm

The Diablo is similar. Everywhere I stop I get people coming over to take pics. I made up a laminated poster I can out on the dash with my real estate teams number. I think it should sell some houses.

I don’t plan to top out the Lambo. I don’t think I want to go over 200.

Shaun July 4, 2014 at 4:03 pm

Congrats.
That is an awesome looking car!
I am not a big car guy now, but like a lot of others I loved the Countach and many other amazing sports cars as a kid.

It is great you have been able to reach so many of your goals so fast and can keep on track with your business and investments.

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Mark Ferguson July 7, 2014 at 12:27 am

Thank you Shaun! The key is hiring hood people.

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Terry Evans July 15, 2014 at 4:27 pm

Mark,

As I am sitting here at Starbucks, listing to BP podcasts, reading the BP forum waiting for 6 o’clock to roll around to do my daily whole-sale door knocking I have stumbled across your blogs posts. Man, what a fresh breath of encourgement as I head out soon to make my own.

Thank you for sharing, and congratulations on your latest , ahhemm, investment!

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Mark Ferguson July 15, 2014 at 5:26 pm

Thanks Terry! I try to make my posts a little different and as entertaining as possible.

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