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Updated about 6 years ago on . Most recent reply
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Should I buy a Tesla Model 3 and a Condo or buy a house in L.A.?
I have a choice of buying the condo that I am currently living in and buying a Tesla model 3. Today is the last day to order car and receive a $7,500 credit towards the purchase of this auto. I will not be able to charge it easily because I will will continue to live in a condo, but can charge it in public places. Prices in San Northridge, part of Los Angeles where I live it's hard to buy a house within my budget, but schools are very good and my children like them. My other choice is to buy a house in a C or D neighborhood, cheapest purchase price is about 350k to 450k. Any feedback is welcomed!
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@Hector W. Zamora Cordova a super easy way to know if you should buy a car (depreciating asset) vs. a house/investment (appreciating asset) is if you have to ASK WHICH YOU SHOULD BUY then YOU CAN NOT AFFORD THE CAR :)
Seriously, it's a flipping car, a nice one, but who cares. I drive a nice car (for me) a 2014 outback, and I had a 2001 prior to that, because it is just a car, like a hammer it is a tool. I had a buddy that made fun of me "aren't you embarrassed by your car.." I replied, "aren't you embarrassed by your bank account?"
Stop caring what people think about you and start investing. Then when you are MASTER level like @Jay Hinrichs you can buy a Tesla a week with cash flow ;)