All Forum Posts by: Syed H.

There is a real play with exotic cars in terms of investment, but I don't know if you truly come out ahead since you have to pay a lot of maintenance and upkeep with it. I think it is just a mirage. Treat any money you make from a car as bonus, not an investment. You will feel so much better about it.

* I bought my California because that car has a potential to go up in value, but that hasn't happened yet and probably wont until some celebrity starts driving it.... *

There are def certain plays in exotics that can/will appreciate. Unfortunately, that doesn’t include almost all modern exotics. They make too many of them. I have broke even or made money on a few rare cars.

The California isn’t one of those appreciation potential cars. Made too many and not as popular. A 430 6 speed or a stripper 458 can be. Certain high end super cars are investments. Like the 918, la Ferrari, ford gt, P1

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Originally posted by @Rich Weese:

@Jay Hinrichs

It seems like many of those Uber millennial's not only don't want to own a car but do not want to own a house either. They seem to prefer the freedom of movement with as few attachments as possible. There is also no corner store, corner pub or local hardware store or any of the other places we used to frequent and our kids got their first jobs. Now much of that is being replaced by AI with more to come in the near future. I personally see an oversupply of property and under supply of qualified buyers.

@Ricardo Lopez

I think your arrows were very well pointed! Here are some thoughts point by point of your five points.

1. Maybe this is an area thing. I have bought and sold a lot of real estate and I have not seen a great deal of millennial's interested in buying a home. I have not seen the large change that you have.

2. I think the reason more single individuals are pursuing homeownership is because there are so many single individuals. In my younger days, it was get a job or go to college and get a degree, find a woman to marry and buy a house and start a family. I'm not sure those are the norm today.

3. I'll bet you know many more people whose kids have fewer children than the parents then vice versa. I agree it varies in cultural/ethnic groups as I am a member of one of the largest providers. ( Mormon or LDS)

4. Excellent point and many of those immigrants believe in larger families.

5. The study I read about Japan showed the the older people were no longer living in their houses. I live in the number one retirement community in the world (The Villages) with over 125,000 retirees making it their home. However, I have not seen a study recently of how many of those are living in care centers and other types of housing for older population. I can assure you there is tons of that type of housing being built within our area.

I appreciated your arrows and feel they were explained very well and all are Extremely relevant.

The only reason millennials haven’t purchased a home is because they can’t afford it. I’m a millennial. Everyone in my group of friends who doesn’t own already, aspires to own.

The issue is everyone is riddled with high student debt and where they want to buy has become even more affordable.

The issue I see happening is urban vs rural/suburban RE market. Younger people especially want to live in an urban environment. Even in suburbia, they want to live near the Main Street and walk to a bar or train station. Not sure there’s a long term future for middle of nowhere real estate.

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It really depends on your own individual situation. Don't buy into the individual LLC for every single piece of RE. I'd consult a good attorney and cpa.

I personally do my flips through 1 S Corp, rentals in another LLC, & ground up developments have their own individual LLC for each. I have a large umbrella insurance to cover everything. Much simpler in an operational and management perspective.

1 Vote

UC is great. I’d buy there for long term appreciation.

Don’t let the difficulty of the hunt deter you. It makes it all the more lucrative when you do find something.

My last 3 deals are in Bergen and Hudson county. A 2 unit in JC that I bought for 83% of appraised value. 1 piece of land for 65% of arv and another for 55% of arv.

The key is to be very active. You'll find your deal. You can pay a little more than most investors and use fha funding. It might be hard on MLS properties but you should focus on more "off market" & big rehab projects.

1 Vote

Yeah I’m all about paying for convenience/time. Would not rather waste my time doing things like laundry.

It’s not as hard to hide your car as you think lol. My daily is a regular car. That’s what I drive in front of my contractors and tenants. I do not take my exotic out in front of them. I also don’t post pictures of cars on fb/ig. I only drive the sports cars when I actually have free time & I’m not traveling, which is a rare 2-3 days/month and maybe 1-2 track days/season.

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Evict immediately.

Don’t raise rents to market for good long term tenants.

Do your repairs immediately & the right way. Your only hurting yourself.

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Originally posted by @Account Closed:

@Jay Hinrichs I don't know if my taste will ever be that expensive. I've watched my income increase at a strong pace the last few years and I might spend 20$ more on a bottle of whiskey than usual once a month.. but that's about it lol. Poor kid at heart here- give me a good gym to spend my evenings in and a couple comfy chairs in my backyard and all is well. Still have my buddies living at my place and paying my mortgage. Maybe when family time comes around some years ahead that will change- but I'll still get married to a frugal lady lol.

Still hate paying taxes though. Love how you can basically write off your whole life when you're self employed. Especially in this business, where advertising, business gifts, travel, and depreciation are everywhere to be found.

People spend money on what they enjoy. And that’s how it should be.

If you enjoy cars, spend it on cars. If you enjoy travel, spend it on travel. If you enjoy just saving money, well that’s just sad. We only live one life and you can’t take it with you.

I know I yearly probably spend what some people make in a year on travel. I also spend way too much on my sports cars, but don’t care too much about my daily driver. Unfortunately, I have expensive passions. Not a big spender on clothes and other stuff, but to each his own.

The issue becomes when people spend just to impress other people. They buy a massive house, a leased German car, and spend every penny they earn to show they live this lavish lifestyle. Now with social media it’s become even worse. People don’t enjoy their vacation, they just take pictures of it to post on IG.

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If you can afford it, get it.

I personally don’t love the 3 or the S. Have driven both a good amount and IMO the interior sucks compared it’s ice competitors.

Now that’s all relative. I am much pickier with my cars. I’m a car nut. I notice minor things, like the interior trim on the door, more than most people do.

Also, reliability is generally good, but they are a newer company that has a lot of growing pains. If you get into an accident, don’t be surprised at a 3-6 month wait to get your car back. I’ve had exotics repaired quicker than my friend had his model S repaired.

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Originally posted by @Theresa Harris:

I would not do a degree in real estate.

Why not?

There are many more paths in RE than most people realize here. There's not only RE agents, wholesalers, flippers, and contractors. Most people in CRE, REI firms, Development shops, Construction shops, Private Equity firms, banks etc have degrees in either RE or Business.

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Originally posted by @George W.:

From someone younger who didn't waste money on college,

for me not going was the way to go. Learned a highly skilled trade. Had and still have zero debts in every aspect. I own everything I have. I work for a decent company. Here's the coolest part there's such a shortage of plumbers & HVAC workers I could quit my job tonight and find a new better paying job tomorrow very easily for the foreseeable future. I'd like to see anyone pushing paper at a fortune 200 company do that. Funny part is I get the same and sometimes even better benefits than some of these enlightened college students.

There's a bad stigma that if you don't go to college you're a loser. Sometimes people talk bad about you if you didn't go to college.

End of the day you don't need a degree to be successful.

Totally agree with this IF you truly want to pursue this. More people need to be going to technical schools and learned a skilled trade. It's hard to pick a trade tho right out of HS and expect to love it.

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All Forum Posts by: Syed H.

Syed H. has started 0 posts and replied 743 times.

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Post: Buy a Tesla Model 3?

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Post: Thoughts on college?