What kind of car do you drive?

Investor Mindset
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What kind of car do you drive?

Jeff Sims
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".

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Roy N.Pro Member
Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
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My preferred ride:

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  • Account Closed
    Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
    11y
    Originally posted by @Jay Hinrichs:
    Originally posted by @Brian Albelli:

    That's cool is that the new lexus?

    Jay,

    You're kidding right? That's the new Corvette Stingray. I wanted to get one of those, but my daughter is not old enough to sit in the front seat so I have to wait for another 3-4 years. Isn't it cool to have a wife that's working so her hubby can afford nice toys to drive the daughter around? I love my wife.  :0)

    3Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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    @Account Closed 

      totally got me on that one... have to go check it out.. 

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    1Reply
  • Sandy Blanton
    Residential Real Estate Broker · Pensacola, FL · Member since 2012 · 221 posts · 49 votes
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    Wow, I love that Vette (and I never liked them at all until recent years).  I drove a 2006 Saturn Vue for nearly a decade, still have it but it's about to hit the market.  I just bought a Caddy Coupe and I love it.  **Oh it is two years old as I never do the first year depreciation on automobiles.  :)  

    4Reply
  • Roy N.Pro Member
    Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
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    @Account Closed 

    This is what a 'vette should look like:

    27Reply
  • Mike S
    Investor · Latonia, KY · Member since 2012 · 107 posts · 50 votes
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    2000 F150 with 138000 and wife drives 2006 Explorer Eddie Bauer with 116000. Both paid off for years. 

    We both don't drive much so we can pick up nice vehicles cheap. Upscale and luxury SUVs can be picked up for about 1/3rd of new with about 70k.

    1Reply
  • Michael Williams
    Investor · Palmetto, GA · Member since 2014 · 190 posts · 77 votes
    11y

    I haven't paid a car note since 1989. All of my cars have been paid for with Cash. I know have a 2003 C240 Mercedes Benz Wagon. I am currently using it as a moving bandit sign and my house as I build my empire. Look out All you seasoned investors on BiggerPockets I am coming to pick your brain and learn as much as possible from you. I love it hear!!!!! 

    4Reply
  • Michael Williams
    Investor · Palmetto, GA · Member since 2014 · 190 posts · 77 votes
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    Please excuse my grammar: "I now have"

    1Reply
  • Matt R.
    Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
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    @Account Closed 

    here is a couple classics I have sold over the last 15 years....I am a bit of a vette fan. 

    8Reply
  • Michael Williams
    Investor · Palmetto, GA · Member since 2014 · 190 posts · 77 votes
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    The best marketing on the planet. Now you know my secret.  

    11Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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    @Matt R. 

      unfortunately for me I am a wanna be airline pilot.. so the best I could do is buy airplanes now you talk about a big hole to poor money down... But the joy oh the joy... When I am down your way I fly over to Catalina land there have a buffalo burger then few hours later I am back in Oregon... Nothing finer.. !!!  also its cool to fly over LAX a 2500 ft not talking to anyone and watching the heavy iron take off and land under you...

    AS for cars.. I have never had the classic bug but have owned pretty much everything except a Ferrari or Maserati.. Its better to just have buddies that have those car's. 5k tune ups are a drag. !! 

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    8Reply
  • Carolyn McNeil
    Holland, MI · Member since 2015 · 9 posts · 8 votes
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    I used to drive a 2002 Explorer with 235,000 miles on it until my husband wrapped it around a light pole during icy conditions a week before Christmas.  Loved that thing.  (thankfully my husband was fine, just a little shaken) Replaced it with a 2014 Town & Country.

    1Reply
  • Karen MargraveBusiness Member
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    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
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    OK @Matt R. you win! I love those vettes .. or any vette, but the classics are to die for. 

    3Reply
  • Matt R.
    Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
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    @Jay Hinrichs 

    That's funny Jay. Catalina is so nice too.  I remember landing there in a sea plane when I was a kid. They don't have that service anymore. Sometimes I dream I live there. I could use me one of those planes for LA traffic too! 

    2Reply
  • Brandon Hicks
    Investor · Avilla, IN · Member since 2013 · 796 posts · 769 votes
    11y

    2005 GMC Envoy for pulling my trailer....bought in 2008

    2002 VW Beetle Turbo...bought in 2003

    42 rental units worth around $1.5 million.

    My wife hates the car situation and wants to replace the VW with a 4 door car or small SUV. I want to buy a work truck through the rental business for $4-5k and let her drive the Envoy all the time. I'll likely lose this battle in the next 6 months....

    2Reply
  • Jeff Sims
    OP
    Residential Real Estate Broker · Greensboro, NC · Member since 2015 · 14 posts · 68 votes
    11y

    Sounds like we have alot in common Brandon. My wife drives a 2008 Honda Odssey (2 kids - 11 and 13). She fought the mini-van mom for the longest time but is a believer now.

    In a couple years I'll get her something newer and turn the Odssey into my "work van". So what is my vehicular motivation - I have a pic of a red 1967 Mustang convertible taped to my desktop screen. One of these days...

    2Reply
  • John Hixon
    Investor · The Colony, TX · Member since 2013 · 283 posts · 205 votes
    11y

    2014 Aventador.   I wish

    Actually I drive a Santa Fe. Almost like an Aventador. If i close my eyes.   

    15Reply
  • Matthew Paul
    Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
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    Mine is on my picture , a 1962 corvette with 450 hp . Its a driver . Everything else I have are company trucks .

    3Reply
  • Tony Bandinelli
    Burt, NY · Member since 2013 · 8 posts · 3 votes
    11y

    Replaced my 1994 toyota celica that was about to snap in half due to rust, with a 1999 VW Jetta TDI (Diesel) for my daily driver because I get ~50mpg.  Suspension is totally shot, brakes fail without notice, E-brake snapped, glow plugs do not work, wipers held on with a few bent nails, it leaks everything, has 240,000 miles, and the dash looks like a christmas tree and it has only caught on fire once so far... but I paid for it with the cash in my pocket 5 years ago and it runs, which is obviously all that matters to me! haha.   Also have a 2003 jeep wrangler rubicon for my weekend/summer vehicle and pretty much the only thing I have ever treated myself with.  Bought it used but had a payment on it, which kept me up at night, and was paid off VERY quickly.

    3Reply
  • Chris McDaniel
    Investor · Crosby, TX · Member since 2014 · 124 posts · 72 votes
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    I'm rolling the 2001 Camry with 225k miles, my wife motivates down the road in the 05 Burban and I have an 01 Silverado for shimming around taking care of rentals. 

    Now I have 2 investor buddies, one with a Benz E350 and one with a 528 Italia, let me tell you, there's nothing like driving that Italia through the McDonald's drive through and watching people stare! How much passive income do I need to get me a 528 Italia?!

    3Reply
  • Alvin Taylor
    Mooringsport, LA · Member since 2014 · 25 posts · 31 votes
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    I drive a  1969 orange dodge charger. I had to sup it up and weld the doors shut because bridges keep going out around here. 

    5Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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    @Chris McDaniel 

      what is a 528 Italia  never heard of that one !

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  • Judd Campbell
    Georgetown, KY · Member since 2014 · 179 posts · 55 votes
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    2014 ram 1500 crew cab and the wife has a 2014 Ford Flex ecoboost. Day jobs pay for the cars. I like cars and the next one is going to be an Aston Martin DB9.
    4Reply
  • Rick H.
    Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
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    19Reply
  • Azeez K.
    Investor · Atlanta, GA · Member since 2013 · 646 posts · 392 votes
    11y

    1995 Toyota 4runner 195K miles

    2Reply
  • AJ S.
    Investor · Columbus, OH · Member since 2015 · 99 posts · 35 votes
    11y

    2004 Acura MDX, 2001 acura integra, both reliable bought cash from lease back or seller needed the money sold it at discount.  I don't want to worry about payments, high insurance, vehicle registration fees, older cars are cheaper to maintain thanks to parts being outsourced from china, taiwan. 

    1Reply
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