Most Guilty Pleasure you've Bought with Real Estate Profits

43 Replies

Just for fun but I know many of us have made it pretty big in real estate whether its a huge flip, cashout refinance, or built up rental profits.

but I want to see what our biggest most extravagant guilty pleasure purchases have been that we couldn't otherwise do without real estate

Please for the sake of the conversation don't be boring and say, financial freedom or like more properties. Those are kind of givens with why we're in REI.

I'll start! I upgraded my bachelor pad from a 980 sq ft. condo with 2b1b to a 2300 sq ft 3b2b SFH (with hot tub hehe)

Also I hope this encourages people to see that you really can do more with your life if you succed in this industry.

Mine is probably lame, but I am a complete beater-driving, shredding debt tightwad that has squeezed max ROI out of every dollar since I could walk.

We have been vacationing as a family more than ever.  Next up mid-December is a week in the southeast-ish (NO, Memphis, Nashville).  $4k just for airfare and hotel, will probably be $6k by the time we eat and attend events/museums.  

I'm nowhere near travelling awesomeness like our buddy @J. Martin , but I am getting there and it's a work in progress. Trying for experiences where the ROI is building memories. Thanks for doing this @David Zheng !

The last cash out I did I bought a new camera. canon 5d and a 70-200 II Lens. about 4K in equipment in one swoop.

I'm a good photographer but it's a hobby and I never charge for shoots. So in that regard, pretty unnecessary.

Not a mind blowing amount of money, but for my habits it's extravagant. This is more than I spent on my car LOL I could have done it without real estate profits, but I wouldn't have.

Sold a cottage lot and put the profit into an account to spend on my own cottage for upgrades.

I also take a one week vacation at Caribbean resort each year on my profits.

I try to reinvest the profits into more rentals or flips ASAP before my significant other spends it ! 

And I am with @Steve Vaughan , we have been going on vacations more often now. 

Experiences are ultimately more lasting than short term material self indulgence. 

BMW 328i XDrive.  (I love to confuse my fellow motorists by using my turn signals and not cutting others off in traffic.  That alone is worth the price!)

Not even a cup of coffee, and I love coffee.  I have regular job that pays well enough to take care of all basic needs, pleasures and vices.  All the real estate income is rolled back into real estate.

This may not count but thought I'd post anyway. My wife won a newly built house.

This happened 1 week to the day that we had bought our first house together in another town (90 miles away. It was furnished and appraised at 210K. The caveat was we could not sell or rent it for 2 years (contest rules).  However, it was in a new housing addition that was getting hit almost every night by copper thieves. One of the managers for a builder in the area asked if he could house sit for us. This was allowed by the attorneys that represented the contest. He paid all the bills and then some. At the end of 2 years ( the addition was about 1/2 full then) he moved out. The house looked like it was just built. Not a nail hole or carpet stain to be found. As the covenant did not allow renting we sold the house and bought two properties near our house. We had about 30K left over after taxes and expenses, so I bought her a car I knew she wanted. 

That was 10 years ago and we still have the houses. As we paid cash for the houses we took the rent and added some of our savings and have since bought two more properties (paid off now). We both work ( her full time/ me part time). Other than our yearly trips out of the country we continue to invest in RE by holding notes and partnering on flips. 

In January I bought a new truck (Tundra TRD Pro) and have been outfitting it for an overland rig (essentially an off-roading capable mini RV). Since we hit financial freedom and neither myself or my wife have to work now, we'll travel around in that. The rooftop tent is the last thing for it and it'll be here in a week or two. I had never bought myself a vehicle with less than 100k miles on it. When I got it I had a jetta wagon with 190k miles on it and an F150 with 203k miles. Until we reached financial freedom, I wasn't going to spend much on a vehicle because that would have just been money not going back in to real estate. 

I'm having a very modern custom cabinet humidor being built right now that will be about $12k. I'm big into cigars and wanted one with temperature control, but didn't like the looks of the others available. It's the same size as the one I have now (6ft tall x 4ft wide), but the one I have now isn't actually a humidor, just a cabinet I got on craigslist for $250 and another $250 to turn it into a working humidor. Earlier this year I "flipped" a duplex to myself. Bought it from a wholesaler, fixed it up, rented it out, and refinanced it for $15k more than I had in it. So not only is it paying for my humidor and many boxes of cigars, the ongoing cashflow will continue to keep it stocked. 

Rolex GMT II. When the refi on my commercial building closes in about 3 weeks, a Range Rover Sport. 

Originally posted by @Austin Fruechting :

In January I bought a new truck (Tundra TRD Pro) and have been outfitting it for an overland rig (essentially an off-roading capable mini RV). Since we hit financial freedom and neither myself or my wife have to work now, we'll travel around in that. The rooftop tent is the last thing for it and it'll be here in a week or two. I had never bought myself a vehicle with less than 100k miles on it. When I got it I had a jetta wagon with 190k miles on it and an F150 with 203k miles. Until we reached financial freedom, I wasn't going to spend much on a vehicle because that would have just been money not going back in to real estate. 

I'm having a very modern custom cabinet humidor being built right now that will be about $12k. I'm big into cigars and wanted one with temperature control, but didn't like the looks of the others available. It's the same size as the one I have now (6ft tall x 4ft wide), but the one I have now isn't actually a humidor, just a cabinet I got on craigslist for $250 and another $250 to turn it into a working humidor. Earlier this year I "flipped" a duplex to myself. Bought it from a wholesaler, fixed it up, rented it out, and refinanced it for $15k more than I had in it. So not only is it paying for my humidor and many boxes of cigars, the ongoing cashflow will continue to keep it stocked. 

 You've earned it for sure.  

I love this thread btw. So in February (3 weeks after the car came out) I got the 2017 Alfa Romeo Giulia Ti. She drives like a dream and it looks exotic so I get many stares and compliments while driving. (and no one else has it) I'll tell you the truth, my Giulia has truly been an experience and something I'll always remember.

Originally posted by @Saj S. :

Rolex GMT II. When the refi on my commercial building closes in about 3 weeks, a Range Rover Sport. 

I actually also purchased a nice watch. I went with a Breitling so that unless you know watches, you wouldnt realize the price.

Dog's acl #1
Sons 529 plan
My IRA
Dog's acl #2
Downpayment for our new home closet to wife's work.

I want to buy the Dodge Demon ..........Wife says I have too many toys already

On my very first flip I more or less spent my entire profit on a Disney timeshare. 200 points at Old key West. This was more to keep my wife happy because she is a huge Disney fan. I'm turning into one too. But like my REI investing I found a good deal on the resale market.

Cirrus SR 22  I had just bought an NBA basketball players 3/4 finished mansion in Portland Oregon put 1 million into finishes and sold it first day on market for 5 million.. we made    well we made a bunch let me put it that way.. so even though I had owned many airplanes over the years they were used and under 100k each.. this was brand new and I went to the factory In Duluth MN spent a week on transition training and flew it home to Portland  9 hours Hobbs time.   left Duluth about 8am and landed in PDX at 5pm.. one stop in Rapid city one in Great Falls..

@Guy Yoes   you guys keep paying those rentals off.. that's what I am doing now paying everything off and moving to cash and notes.. nothing lets you sleep better than Zero debt..  Or next to zero.

@Steve Vaughan   as you vacation with your family check out Colonial Williamsburg and do Washington DC in same trip.. that will bring you many fond memories. 

I flipped a 3bed 2 bath last year this time. I took about half of the profits and bought a Kubota U25 mini excavator! It wasn't brand new, but it only had 100 hours on it! Paid $28k and a new one runs about $39k, so I feel like I won lol I use it for everything, I'm about to tear down a 400 sqft addition on a house I just bought to flip. The room wasn't permitted and was built like crap. We will see how she does on Saturday!

I bought a single family home to live in.

I invest 100%. Of all profits in real estate. Stuff will come when I own 3 mil in Real estate and I’m VERY close.

Originally posted by @Steve Vaughan :

Mine is probably lame, but I am a complete beater-driving, shredding debt tightwad that has squeezed max ROI out of every dollar since I could walk.

We have been vacationing as a family more than ever.  Next up mid-December is a week in the southeast-ish (NO, Memphis, Nashville).  $4k just for airfare and hotel, will probably be $6k by the time we eat and attend events/museums.  

I'm nowhere near travelling awesomeness like our buddy @J. Martin, but I am getting there and it's a work in progress. Trying for experiences where the ROI is building memories. Thanks for doing this @David Zheng !

 THE BEST THINGS IN LIFE AREN'T THINGS ;)

Way to enjoy life with your family Steve. Don't have to feel guilty about that ;)

After I finished up the Summit this year, I rode a motorcycle from the Taj Mahal to the Pushkar camel fair, and back up to Delhi. Was an amazing experience! 

And just landed in Chiang Mai the other day, for the lantern festival in Thailand. @Arlen Chou will be meeting up in Vietnam with me a bit later. And enjoying traveling with my gf :)  Flying back to the US in April for @Dave Van Horn 's East Coast Summit. Then we'll see from there..

Keep rocking and enjoying life Steve :)

My guilty pleasure has been cars from my childhood.  1986 buick grand national and 1979 pontiac trans am (bandit)  

I didn't own either one, but had crappy versions in highschool. A rusted out cutlass and trans am.  The look on my wifes' face was priceless when I brought the buick home... 

Originally posted by @David Zheng :

Just for fun but I know many of us have made it pretty big in real estate whether its a huge flip, cashout refinance, or built up rental profits.

but I want to see what our biggest most extravagant guilty pleasure purchases have been that we couldn't otherwise do without real estate

Please for the sake of the conversation don't be boring and say, financial freedom or like more properties. Those are kind of givens with why we're in REI.

I'll start! I upgraded my bachelor pad from a 980 sq ft. condo with 2b1b to a 2300 sq ft 3b2b SFH (with hot tub hehe)

Also I hope this encourages people to see that you really can do more with your life if you succed in this industry.

 A property manager.

I renovated one of my units for $10,000 and raised the rent from $900 to $1450.  I used the cash flow to pay off the debt to contractor and Home Depot (6 mo no interest).  That part is paid off.  I am using part of the increased cash flow to pay the car payments on a two-year-old Honda CRV I paid $14,000 for at $250/mo. That's the first car I have ever financed, and I have been investing in real estate since 1987.

I haven't really bought any luxury/fun stuff yet because I'm still choosing to just roll profits back into my LLC. However, several years ago, I found myself without a regular "9 to 5" job for about 5 months. Thanks in part to my rental income, I was able to continue paying my bills without digging into my savings. Now, I was financially tight and couldn't do much fun stuff, but I was still doing fine enough to actually decline the first job offer I received (because it sounded like a terrible office to be in). Soon after declining the first job offer, I received another job offer that turned out to be a fantastic office and team of people to work with!

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