All Forum Posts by: Account Closed

I actually just witnessed this similar situation last week. A friend of mine owns a well drilling business and got a call while we were at lunch. The site was on our way back so I went with him. We were in his 2 or so year old Land Rover. When we got out, the customer said, "oh, I cant afford you if you're driving that". You'd have to know my friend to appreciate his response but it was pretty blunt. Without hesitation he tells the guy, "I'm the largest driller in the area. I make my money from volume, not one customer. Furthermore, if I drove up in a piece of s**t truck, then you would think I was a crook. Now that that's settled, where were you hoping to drill on the lot?" It was all I could do to keep from laughing but he was right. There's pros and cons to the truck you have and the cars you're considering. I grew up in the car business and feel like you should consider a point no one else has mentioned. An older luxury car may be what you want and in an affordable purchase price range, but you seriously need to consider the age, mileage, and service history. Also, Autocheck is far more accurate than CarFax if you look at those as well.  That $10K E Class with 120K miles on it might in your budget but can you afford the repairs when it breaks down, which I promise you, it will. Maybe not major, but something will break and won't be cheap to fix on a Mercedes, BMW, etc. My suggestion would be as most others, get a few deals done and save some money first. Then try your best to not look at your purchase through a 20 year old mindset. Fast cars are fun, but not practical. You can buy one of those later (and maybe live longer). Luxury cars are nice, but not economical to maintain. I'd go with something middle of the road, dependable, and relatively common maintenance wise. Unless you do it yourself, you could be looking at $100 or more difference in price for an oil change between, say a Honda Accord and an E Class or 5 Series.   Good luck!

@Account Closed Lots of good advice here. I'm from the camp that as an agent, your car is one of the things that brand you and I choose to drive a luxury SUV. However, with little experience, you're likely not to impress anyone with a nice car. Get a clean, inexpensive late model 4 door or small SUV. 

Make a goal of the number of deals and the number of dollars in your bank account to reward yourself with the sports car. Don't give in the the instant gratification, invest in yourself and your business and you can have a garage full of fast sports cars in your future!

I'm going to go against the grain here.  I think it is ridiculous to drive a certain vehicle to "look the part" unless said vehicle is what actually is making you money.  I am going to assume that since you posted on a real estate investing website that you are planning to serve real estate investors.  As a professional full-time investor, I am not impressed by what ANYBODY drives.  Know your business, do it well.  You could ride an old rusty bike to show me a property, as long as the property makes sense as an investment and isn't a waste of my time, you will get a lot of business from me.  If you are looking to sell pretty houses to primarily retail buyers, I'm not in a great position to offer you advice.

I have worked with professionals that drive fancy cars and flaunt them, but they don't have a clue what they need to do as a professional.  I have also worked with professionals that drive 15 year old cars that will knock your socks off with sharp advice.  The latter group gets my business every time.

I would encourage you to read a few books.  Try "The Millionaire Next Door", "The Millionaire Mind", or other books by Thomas Stanley.  You may also find several of the "Rich Dad" books helpful.  If you are going to be an investor and/or work with investors, you need to learn how to think like one.

It isn't my intent to come across as a jerk.  However, in my opinion, your approach to life and profession is seriously flawed.  I'm coming across on the harsh side to make my point understood!  Don't worry about the fancy car, the perfect suit, or the expensive watch.  KNOW YOUR PROFESSION!  Be a rock star first, then worry about what you are driving when you can write a check to pay for it.

Best of luck to you.

I mostly liked driving a 4 door MBZ personally. I bought my first MBZ new in 1983 I was 28 at the time, but looked like I was 19. Once I got a call from a buyer on my listing and they matter of factly said they are working with another agent who is not available that day and can I show my listing to them and if they decide to buy, they will make an offer thru their agent.

When I got out of my brand new MBZ, the wife literally said... "You're so young and successful... forget the other agent, we want to work with you instead" While they didn't buy the listing, I did list their house... which didn't sell as well... Rates were sky high at that time... around 17% for a 1st mortgage. So don't complain about 4.5% rates... lol

5 years later, I leased a new top of the line 560SEL but I cannot recall making one deal because of the car... I would dress like a bum and I used to joke that the car was my coat and tie... By then, I was one of the top agents in the area and I don't think it would have mattered if I drove a MBZ or a beat up Kia...

@Account Closed - I would keep the truck until you start generating some income. I doubt your customers will pass on a house that you are selling b/c you have an old truck.4