Investor Psychology

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Jeff Sims
  • Residential Real Estate Broker
  • Greensboro, NC
67
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14
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What kind of car do you drive?

Jeff Sims
  • Residential Real Estate Broker
  • Greensboro, NC
Posted Jan 31 2015, 09:21

Just a fun post here. I have been a SFR investor for 15 years and now have $2M in rental RE while working a full time career. The cash flow was tight for years it seemed but the snowball of debt paydown is rolling big time now and I'll be able to "retire" in 2 years with enough cash flow to replace my salary.

That said, I can't imagine having a car payment and only buy used vehicles. I drove a 1999 Jeep Grand Cherokee (to haul all my rental supplies) for 7 years and the engine blew a year ago with 275k miles. I made a significant upgrade and replaced it with a 2000 Jeep Grand Cherokee with 110k miles and paid $3,600 cash.

I don't need the status symbol of a new vehicle nor the monthly payment and living well below my means is my motto. As Dave Ramsey says, "live like no one else today, so you can live like no one else tomorrow".

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