27 Years Old: Should I buy a House or a Lamborghini?
March 21, 2018
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Graham Stephan Episodes Around March 21, 2018
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18:59Now Playing27 Years Old: Should I buy a House or a Lamborghini?
YouTube Description
as posted by the channelI’ve always wanted a Lamborghini, but I’ve also always taken the financially responsible route and invested instead. Now I’m at a similar point: invest or buy the Lamborghini. Let me know your thoughts! Add me on Snap/Insta: GPStephan
Learn my exact strategies to help grow your career as a real estate agent to a sixfigure income, how to best build your network of clients, expand into luxury markets, and exactly what you can do to begin taking your career to the next level…these strategies took me to $120,000,000 in sales volume
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For those who don’t want to watch the entire video:
I’ve always loved Lamborghini, but I’ve prioritized investing and buying real estate before buying the car. This has worked amazingly well over the past 8+ years. However, I’ve set a goal to buy the Lamborghini this year…and now that I have the money to finally make the purchase, I’m wondering if this is the financially sound decision to make, given that interest rates are still low for real estate.
My concern is that this will be the last chance to buy real estate sub 5% interest rate. However, as interest rates rise, I’m unsure about how much higher real estate will be rising over the next 3 years. Due to increased inventory + rising interest rates, I think we’ll see some more moderate growth - and in some markets, maybe some flattening depending how much inventory comes up. Given that, it also seems like the opportunity cost of owning a Gallardo or SLS AMG for 2 years won’t be that big, and I’d be able to get back in after a year or so with minimal “loss.”
But with that, I’ll likely be paying a higher interest rate - which may impact what I could buy down the line, especially as Los Angeles Real Estate Prices are already barely cash flowing. But from a branding perspective, a Lamborghini could end up a great asset - plus I can own the car I’ve always wanted to have.
So this is the internal debate…if you didn’t want the video, you probably should because I go into way more detail about the housing index, real estate prices, and analyzing the car vs a house. It’s worth it, I promise ;) Thanks for watching/reading!
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness@gmail.com
Suggested reading:
The Millionaire Real Estate Agent
Your money or your life
The Millionaire Real Estate Investor
How to Win Friends and Influence People
Think and grow rich
Awaken the giant within
The Book on Rental Property Investing
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