The banks thought hey they will put the cash back into reserves and properties will continue to go up.Well reality was they went and took the cash out and bought a car a boat a jet ski a trip you know all the things they deserve as good consumers.

While I haven’t done this yet, I have included an opportunity to get a loan out on my car as another way of raising cash for my next purchase.

I would imagine most of us don’t use the word “colored” or “negro” anymore….. we don’t call a motorcycle a bike or a car a buggy.

I agree with @Cara Lonsdale on this one.Make a policy and stick with it.

I think it shows great discipline and determination.I think you would love yourself more 2 years from now and there will always be other Porsches to acquire .I felt the need to chime in because that happens to be my dream car as well, I’ve been waiting only 30 years ,however ; I’m sure I would have made the same decision.

@Michael Vallee @Cara Lonsdale Thanks guys. 

Originally posted by @Cara Lonsdale:The lender will require you to have 6 months reserve for investment properties. 

Since the signs are always on my car, can I write off everything such as all milage and expenses related to the upkeep of the car as a travel expense or am I still required to keep personal millage and business milage on a milage log separately and am only allowed to take the standard millage deduction? 

You really pick up a lot, and one plane ticket, a rental car, a hotel and meals are more than worth it if you're going to buy 10 homes. 

@Cara Lonsdale and @Bilal A. getting a real estate licenses is irrelevant for being a real estate professional for income tax purposes and will not, by itself, make someone qualify as a RE pro.