‘What’s in your garage’?

[Diana Dorantes]

My husband and I recently met a couple who were rehabbing a rental and noticed that they were driving a very nice luxurious  SUV, now we learned they have had rentals for 40 years and were ready to begin to sell off some properties.  We pulled up in a 2003 Ford truck with the front fender being held together with a shoelace.  That got me thinking about what kind of cars other new and Seasoned investors are driving or drove in order to reach their goals.  Would love to hear your stories.

[Nathan Gesner]

I've always driven vehicles that are 10+ years old and usually pay less than $5,000 for them. My last vehicle was a 2005 Toyota Sequoia with lots of room for kids or hauling things around town as a property manager and investor. I spent $10,000 on it which was a good price at the time and I just sold it a few months ago for $5,000 despite having 240,000 miles.

My investments are to the point I never have to work again and could live a good life. I still love my job and have six more years before my kids will be grown, so I intend to keep working/growing during that time. I make enough money that I am constantly looking for tax write-offs. My CPA recommended a vehicle, so I decided it was time to splurge and bought myself a brand new truck for the first time. I'm 51.

I would rather have a used vehicle because I don't like flashing my money and I would feel more comfortable putting my kids and dogs something already a little worn.