So I live in Silicon Valley and I am accustomed to seeing Car "candy"; yes those beautiful Audis, BMWs, Porsches, Benz (my dream business car is an Audi A8...maybe someday...). Prior to Bigger Pockets and hitting the real estate bug, driving next to these "temptations" I would get overwhelmed with the feeling of jealousy, borderline envy. I have a "decent" car, a 4 year old Hyundai Genesis sedan, which I actually love. But the "H" badge certainly can't be compared to these European beauties...
Now, however, after endless late nights of bigger pocket reading, research and rationalization ("deal analysis", I wanted a little alliteration (sp?)); whenever I am next to these cars I can't help but wonder what rental property I could have purchased and cash flowed with that car. Or, if they are making car payments, what triplex or quadplex could I have cash flowed with that 700/month car payment...wow...talking about pissing money away. The philosophy of multiple streams of passive income has certainly changed my way of thinking about opportunity costs...
What about you?
@Rollan Dizon - I am lol reading your comments. Interestingly enough I have had people comment on my car and they ask why don't I drive a BMW.
Actually, my car is a Toyota Camry which was bought new and it works fine with me as the sole driver.
My response is that I am not worried about cars, as long as it takes me from A to B safely.
Cars all accomplish the same thing....take you to your destination, whether it costs $100 or $200K.
My focus is on Real Estate as I see where my money goes and it generates cash flow!
So, you are on the right track, focus on real estate. I don't envy those folks spending hundreds of dollars on leased or purchased vehicles to use as a fashion statement.
I think the same way, just today my friend was telling me about his new leased pickup that only $425 a month to lease compared to the $700 a month to buy it and the whole time I was thinking instead of buying a new $50k truck, or even worse leasing a new truck I could take that money and make $425 a month in cashflow. Some people just don't have the same goals, dreams and desires.
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