All Forum Posts by: Tom Doan

Great business school you are going to if you really think a Lambo out of the gate is a wise move.

Lets be real, what job do you have lined up out of college? Pay? Benies?

I suggest going on to Grad school. Undergrads in Business are a dime a dozen. Market yourself a little higher and study finance to understand real estate in and outs.

Here is my story. I have a BS from USC with a double major in MIS and Marketing. I worked in IT for 8 years before changing career paths. My reward to myself when I was 26 was a used Porsche 911SC, which I paid cash for. After owning a home!

... I still have it, never use it, garage queen. Waste of money. What I drive everyday is a 96 GMC Sierra K3500 crewcab with an 8' bed, which I paid cash for. Because I look the part. My wife drives an Escalade. I never drive it because it does not fit my style.

Keep it real.

When you bank the first Million buy whatever you want. Read The Millionaire Next Door to understand.

I never said it would be a wise move, I was merely speculating a possible move, not necessarily a wise one.

Business undergrads may be a dime a dozen, but good ones not so much. An undergrad at a top 10 business school in McCombs is pretty prestigious in itself. But if it's not enough then I might go back for my MBA.

And thanks, I'll check out that book.

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I'm not looking to ignore any advice on here, otherwise I wouldn't have posted.

I know it's reasonable to wait until you can actually afford one, but owning a Lambo later in life wouldn't be nearly as having one in your youth.

Thanks Jon, that was the post I was looking for.

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Man, talk about bashing.

Haha, but I figured nobody would really agree with me.

I just thought that as long as the 60 months of the car payments are bearable, I would be able to afford the car of my dreams and get started in real estate investing at the same time. Then after the 60 months, I would own the car and have a 100-150k house and could possibly lease that house out and buy another one.

And to clear up my post, I want to own a Lambo, hence I would not be leasing one, but purchasing one.

I know nobody seems to agree with my plan, but nobody is answering if it's even possible/realistic to do it or not.

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Alright so, other than my introduction, this is my first post here. I have been thinking about this idea for a while, but I need some perspective to un-noobize it.

Owning a Lambo is definitely one of my dreams in life and I hope to achieve it. I'm a senior at the business school at UT and I'm graduating this December. I plan on working for a while to build up some cash and then purchase a home around $100-150k as my first home. Now I'm assuming my salary would be able to afford a $1500 monthly payment for my mortgage and $400 for my car payment.

My idea is why not swap the two payments. I want a used Lambo to avoid the depreciation costs. A used 04 Gallardo runs for around 90k. I would use the $1500 per month to the car on a 60 month lease and $400-600 for the mortgage payment.

Then once the car payments are done, that frees up $1500 per month and I could purchase another house and begin to lease out that house or the original one.

What do you guys think? Any help is appreciated.

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Hey guys, my name is Tom Doan and I'm currently a senior at the McCombs School of Business at UT studying finance. I'm pegged to graduate this December and I plan on going into real estate investing.

I'm on here to soak as much as I can so I can hopefully be as prepared as possible going into the field.

Other than seeing my stocks tank the past few years, I'm relatively new to investing.

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All Forum Posts by: Tom Doan

Tom Doan has started 5 posts and replied 15 times.

Post: How To Afford A Lambo?

Post: How To Afford A Lambo?

Post: How To Afford A Lambo?

Post: How To Afford A Lambo?

Post: UT Student from Austin, TX