Hey guys, Haven't come around lately. Been busy building up my real estate business. I have been working as a RE agent, while also working on a RE flip. RE agent work is not my main goal, I have just used it to get by while working on this house flip, and my end goal is to own rental properties.
My first flip is about to close, and I will have profited all said and done about $80k pretax. Now here's the story...
My whole family is in real estate and has been very successful. My grandfather owns about 200-250 rental units, so he does very well. A couple years ago my POS old ford explorer decided to blow a motor, and I didnt have the $$$ to get my own car at the time, so my grandfather was nice enough to buy me a 2011 jeep grand cherokee. The payment is somewhat small for a nice truck ($290/month) but I am still extremely fortunate.
Main question: Since I just achieved my first RE investment and it was a success, should I go and buy a car and pay for it on my own? Or should I take advantage of the "free car" and put that money to better use? The fastlaner inside of me says to save the money and invest it in the next project, but it would be rewarding to be completely self dependent.
I know this isnt a car forum, but I just wanted your opinions from a business and moral POV.
BTW I would probably replace it with another Jeep. Probably a $30k Wrangler.
-Jay
My first flip is about to close, and I will have profited all said and done about $80k pretax. Now here's the story...
My whole family is in real estate and has been very successful. My grandfather owns about 200-250 rental units, so he does very well. A couple years ago my POS old ford explorer decided to blow a motor, and I didnt have the $$$ to get my own car at the time, so my grandfather was nice enough to buy me a 2011 jeep grand cherokee. The payment is somewhat small for a nice truck ($290/month) but I am still extremely fortunate.
Main question: Since I just achieved my first RE investment and it was a success, should I go and buy a car and pay for it on my own? Or should I take advantage of the "free car" and put that money to better use? The fastlaner inside of me says to save the money and invest it in the next project, but it would be rewarding to be completely self dependent.
I know this isnt a car forum, but I just wanted your opinions from a business and moral POV.
BTW I would probably replace it with another Jeep. Probably a $30k Wrangler.
-Jay
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