Residential Real Estate Broker · Greensboro, NC · Member since 2015 · 14 posts · 68 votes
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".
Ieper, West-Vlaanderen · Member since 2015 · 4 posts · 0 votes
11y
So much boring cars... :D haha I've had my driving license for 3 years and I had a 2009 Alfa Romeo 159 Sportwagon, then I drove my dad's "old" 2006 Volvo C70. Now looking for a 2002 BMW E46 M3 :D
In my 25 years of driving, I have probably been pulled over about 50 times. Most of my tickets were in foreign countries, 3 in the UK where I've managed somehow to beat two of them, 1 in Casablanca for jumping a red light - that deserved to be jumped, speeding in Romania - who doesn't?, no left turn in Prague, 106mph in France, that's just a shakedown.
I was in the middle of a fantastic move in Spain one day, got busted by the cops, and my God they were hot. Two women police officers - we were begging to be handcuffed. Unfortunately we were too much hassle with foreign driving licenses. And too fat and ugly. They let us go.
Ah good times.
The key to getting off a speeding fine is a) always admit you're speeding (otherwise you insult the cops intelligence, and it wrong foots them because everyone says "I wasn't speeding officer"), but always admit to a lower amount than they say. b) wear glasses. Cops hate giving speccy four eyed people tickets for some reason.
The key to getting off a speeding fine is a) always admit you're speeding (otherwise you insult the cops intelligence, and it wrong foots them because everyone says "I wasn't speeding officer"), but always admit to a lower amount than they say. b) wear glasses. Cops hate giving speccy four eyed people tickets for some reason.
Here in Belgium a policeman can't give you a ticket if he doesn't have evidence... You can fly by a cop in the other direction, they will turn around and stop you, but they wont be able to write a ticket because they have no prove of how fast I was actually going.
I've been stopped multiple times, but never got a ticket, only a warning. I did however lost my license 2 times, because of unmanned speed radars. You only see a flash and about two weeks later you get a nice letter from the police... :p
Investor/Realtor · Wentzville, MO · Member since 2014 · 846 posts · 431 votes
11y
My daily driver is a 2014 Lincoln MKZ hybrid. It is averaging 40.7 miles per gallon since I have owned it and it is comfortable to drive considering I drive 500 miles each week.
RE Investor · Houston, TX · Member since 2015 · 26 posts · 8 votes
11y
I drive a 2010 Corolla that is used and I love my car so dearly!
I like to drive for dollars and listen to audio books or lectures in the cozy cabin. My car has reasonable fuel efficiency in my opinion and I wouldn't trade for another car :)
Santa Rosa, CA · Member since 2015 · 191 posts · 75 votes
11y
I currently drive a 2000 Jeep Grand Cherokee 4x4, black on black leather. It looks cool towing my 5x8 utility trailer for stuff I'm always doing. But then again, I'm now 59 years of age.
But wait! I wasn't always like this. I drove a Chevy Biscayne in high school, which I souped up in auto shop. Then had a Plymouth Cricket that I learned to drive stick in. A few years in the Army had me driving deuce and a halfs, then a 1971 VW bug for many years. When I blew that souped up 1600cc engine, I decided on nicer cars.
Had a BMW 314i for three years in Germany. Anyone drive 150 mph on the autobahn?Then a Porsche 911T for a few years until I got married, which made me trade it for a Suburban. Missed the high performance, though, so I bought a 1999 Mercedes 560 SEC...now that was a car! But decided on American muscle after, so got a 1965 Corvette Sting Ray for 7 years. Raced it all over the place but it was street legal, so raced it all over the place lol. Sold it for a Harley and a motorhome. Had an Airstream 454 and after 10 years sold it and now have a Dodge Chinook 20 footer for fun. I love Jeeps though...had about 3 of them over the years too.
My next car will be the Chevy Volt...can't afford the gas anymore.
Real Estate Agent · Greenville, SC · Member since 2014 · 86 posts · 30 votes
11y
2002 dodge ram. Guzzle gas like a drunkard. I won't be getting me a nice car until I can easily pay 300k cash for it. I will buy a personal jet in my lifetime as well. Guaranteed.
Chester, NJ · Member since 2013 · 150 posts · 30 votes
11y
My work truck is an 04 F350. I just had to replace the bed because the rust was so bad and it was falling off. That will go until the cab rots off.
My car is the slumlord mobile- 07 Lincoln MKZ. Sounds nice but not so. Every panel has a scratch or dent on it, the inside smells like dog, and now the front suspension is so noisy everyone looks within a 50 foot radius of my pulling up.
Winter Haven, FL · Member since 2015 · 4 posts · 0 votes
11y
I bought a new truck in 2012 and was excited and proud when I did. It was only the second new vehicle I had ever bought and owned. The first was repo'd almost 20 years ago. Was a bad time in my life and I lost a lot. But now I am ready to be without a car payment. I could do so much more with that money. In fact, my wife and I each have a car payment! So my goal is to get rid of my truck and buy used. My previous truck lasted 12 years and 260,000 miles.
Rental Property Investor · Fort Worth, TX · Member since 2015 · 38 posts · 11 votes
11y
My parents bought me a car in 2007, a 2008 Pontiac G6, during my first semester of college and paid it off before I graduated. It has about 80k miles on it now and I'm hoping to get it to 300k *fingers crossed* before I buy my next car a brand new Chevrolet Corvette... Hoping to have a large amount of money to waste ie. rich, before I buy my dream car!
Certified Arborist · White City, OR · Member since 2015 · 8 posts · 4 votes
11y
I have a 91 celica that is my dd and a 08 klr650 that i ride at least three days a week. my wife drives an 06 chevy venture and my work truck is an 03 f350 powerstoke. i consider it an investment a i only drive it when doing tree work so it only goes out when its making money
Investor · Chandler, AZ · Member since 2012 · 69 posts · 55 votes
11y
I drive my 2001 Ford F-150 Supercrew (first year made) with over 200K miles on it. Like everyone else here, I invest my funds in appreciable assets and not depreciable assets. I just have to see how far it will go at this point. LOL Of course with a wife and two teenage daughters, that means multiple cars as well. New vehicles are just too costly, but they are easier to get financing on. If I buy new, I intend to drive it till it dies and it will not be a high end vehicle!
Northern, CA · Member since 2014 · 674 posts · 444 votes
11y
Quality/value of car should be somewhat relevant to income IMO. I see young kids around 20 driving 40k cars like they are big shots but all I see is someone who lives at home with no future who has imprisoned themselves financially.
We have a few cars currently, 2011 335D that is the long distance work horse, 35 mpg with amazing performance, paid for.
1994 land cruiser that is my "work vehicle", I tow with it, transport the dog, the basketball team, and it handles snow duty etc. bought it for $4500 about 4 years ago and have put $3000 into it. It's a classic style and turns heads since they are getting rare. Paid for.
Last but not least, picked up a BMW i3, combined with our solar power this car pays for itself through fuel savings and maintenance in the other two vehicles. Did a short 2 year lease, waiting on Model 3 Tesla.
Other than the old landcruiser I hope to be purely electric within 3 years. Oh, can't forget the 2008 KTM 690 SMC, 50+ mpg and will embarrass just about any other motorcycle in the twisties!
ENGINEER/INVESTOR · Hernando, MS · Member since 2015 · 30 posts · 9 votes
11y
WELL I HAVE A FLEET OF CARS LOL SMH! 2013 ESCALADE,2008 CORVETTE,2014 STINGRAY,2013 AUDI A7, 1987 GRANDNATIONAL,1971 IMPALA, AND A 2003 F250 SUPER DUTY MY WORK TRUCK!
1999 Lexus SC400 and 2002 GS430. Sold my Acura NSX some time ago to add to the REI fund! Knowing what a depreciation curve is makes me really struggle with the idea of a new car.
Really. Depreciation curve... do you know that your Acura NSX that you sold is going UP in value every month?
Mohrsville, PA · Member since 2015 · 57 posts · 10 votes
11y
After my 98 Honda CRV bit the dust, I never, ever thought I'd actually like a minivan. But we replaced it with an 01 Mercury Villager and I love it! It's come in handy lots of times for hauling around all the grandkids at once. I love that the third-row seats can push up so we have a good bit of room for hauling stuff.
It was the most comfortable ride for making long trips too!
Myself, I don't drive much at all anymore (vision problems due to fibromyalgia; never know when the blurry, fog-headed symptoms are going to hit), but in an emergency, I know I can handle this vehicle.
We also have an 01 Dodge 1500 truck for hauling wood and mulch and towing things that are too heavy for the Mercury. I need step-stool to get in and out of that thing so I'm not in it unless it's an absolute necessity!
Regarding the NSX, yes i'm aware of the appreciation first hand as I made money when I sold it. However, I am able to yield higher returns using the funds from the sale in REI.
Regarding the NSX, yes i'm aware of the appreciation first hand as I made money when I sold it. However, I am able to yield higher returns using the funds from the sale in REI.
:) Fair enough. Almost everything yields lower (or even negative) returns than well executed REI. Vacation? Why go since you'll be "losing" money. New hobby? Why start it, since you'll be "losing" money. See where I am going with this?
Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
11y
I'm a car (and motorcycle) nut, and cringe when I think of all the money I've blown over the year on motorized toys. Now that I"m into REI, I'm pretty much reformed and have settled down on my frequent trading.
Now I just have an '08 Ridgline, a '13 Civic Si, an '02 Corvette Z06 (my track toy), and a '15 KTM 300 XC dirt bike.