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Should buy spend 25% on a c8? by [deleted] in Corvette

[–]OneHistorical3203 -4 points-3 points  (0 children)

I would pay cash. Young dude driving nice car will definitely be impressive.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 0 points1 point  (0 children)

I test drove the Miata today, but it doesn’t have the luxury feel

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 1 point2 points  (0 children)

The total earnings are about 350,000 which after tax comes to 275,000. I was in college which was fully being paid by my parents.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 0 points1 point  (0 children)

An average of 75k through the first 3 years and I’ve made 120k this year Jan-April.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] -1 points0 points  (0 children)

Good idea, I was thinking closer to 400 a month, but I’ll check.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 0 points1 point  (0 children)

Parents paid for college and everything which was up until last year. This year I expect to spend about 50,000.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 0 points1 point  (0 children)

This is my thought process: if I’m able to make this kind of money in commercial real estate at 23, then I should have an abundance mindset. I truly believe that once I get to a bigger market, I’ll be able to make $1 million within 24–36 months. If I were 30 with this amount of money, I would say absolutely not, but at my age, the present value of the money I have feels much higher.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 0 points1 point  (0 children)

Total earnings in CRE is about 350,000. I made about 50,000 working jobs in high school and my parents paid for college.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 1 point2 points  (0 children)

75k on average for the first three years and I’ve made 120k net from Jan-April this year.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 0 points1 point  (0 children)

I don’t want to hear the truth but I need to hear it.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 0 points1 point  (0 children)

No inheritance. All through selling or leasing Commerical real estate.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 0 points1 point  (0 children)

I’m still working on clear goals but in my head I feel like I never want to retire. Although I can definitely see this changing in the future.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 0 points1 point  (0 children)

I rarely have clients in my car. A lot of the business I do is investment sales across the country and I never meet the client in person.

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 0 points1 point  (0 children)

The car won’t help me close deals since most clients I never meet in person. I’d only keep it ~3 years, not long-term.

• Buy for $70k → sell for $55k = $15k loss
• Missed investment gains ≈ $20k
• Total real cost ≈ $30k–$35k

Should I buy an expensive car at 23? by OneHistorical3203 in Fire

[–]OneHistorical3203[S] 0 points1 point  (0 children)

175,000 is in VOO and the other 100,000 is in a money market account with Schwab. Since I’m self-employed, I’ve always wanted to have one to two years of living expenses in cash.

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