All Forum Posts by: John Duke

IMO, you are rationalizing the purchase of a car outside of your price range by saying it might help your business. The path of "fake it til you make it" giving the impression of success is a never ending one because there is always a bigger fish to impress.  This sort of thinking is how people with 6 figure salaries still only barely scrape by month to month.

If you really want the car, sit down, double check your budget and just buy it if it's what brings you happiness in life.  But recognize it as what it is: an expensive luxury item that you use for your enjoyment.  Don't over-complicate things by rationalizing the purchase as some sort of business asset.

@John Duke

What kind of car do you have now?

I would never advise a new agent to get an expensive car incase the whole "Realtor" thing doesn't work out. The majority of new realtors quit in the first year and you are stuck with an expensive car or car payment.  

I take my commission checks and save up for a down payment on a rental property, not a car. I drive a 2005 Honda Civic that I paid $3,500 for and that hasn't stopped me from closing over $2 million in real estate with another $750K under contract! Save your money and invest!

@John Duke I say go with what you want. Most clients will meet you at the property or follow you anyway.

 But, as an investor I gotta ask why would you drop the money on a new car when you could buy a property!? 

@John Duke I say go with what you want. Most clients will meet you at the property or follow you anyway.

 But, as an investor I gotta ask why would you drop the money on a new car when you could buy a property!? 

Well since you're in cali the Mercedes might be a good choice. For me personally a Mercedes is a stereo typical vehicle for an agent. Same goes for a land rover/range rover. I'm currently deciding what to get when my current lease expires and I'm leaning towards a red soul. They are roomy, cheap, come standard with the actual things i use and have the long warranty. My general goal now is to buy something that I won't want to modify. Again that's what the motorcycle is for...

I'm with Carol on this one. Get something that they can ride along with you. There is so much you can learn in that drive that you would never pick up on otherwise.  I'd check into what is most beneficial to you in terms of taxes as an agent. Sometimes buying isn't the best way to do it and leasing may work out better. I am a car enthusiast as well, but had to make a bit of a change to fit my new life a little better.  Now I have a motorcycle to cure that itch and it's a ton cheaper. Part of getting started in this business is making some sacrifices to get yourself moving. Becoming an agent and buying a brand new sports coupe at the same time may not be the best idea. The fun toys are for when you've actually made enough that this decision wouldn't even have a question mark.