C8 Z06......Wow

[Mike00]

Originally Posted by G MONEY

Amen brother. We are on the same page. I have 11 rentals. I'm on the good side now which is great. Sucks early on but just need to stick with it.

X1000! Love my job but I’d much rather have a high income and not work and be able to do anything I want 55-75.

Yep added 3 over last 12 months. It’s starting to roll fast as to your point it picks up steam quickly. The big trick is not to touch the profits though and keep throwing w2 at it which is tough for some folks.

Thing is because I want a GT3 / lambo and growth in my future I Have to go beyond the w2. Otherwise I’d retire younger haha. But 55 is a pretty good age to retire as a millenial if you ask me. And who knows if I have more good years than average years on the w2 then it could be much younger. I just don’t budget/forecast that way.

[G MONEY]

Originally Posted by Mike00

X1000! Love my job but I'd much rather have a high income and not work and be able to do anything I want 55-75.

Yep added 3 over last 12 months. It's starting to roll fast as to your point it picks up steam quickly. The big trick is not to touch the profits though and keep throwing w2 at it which is tough for some folks.

Thing is because I want a GT3 / lambo and growth in my future I Have to go beyond the w2. Otherwise I'd retire younger haha. But 55 is a pretty good age to retire as a millenial if you ask me. And who knows if I have more good years than average years on the w2 then it could be much younger. I just don't budget/forecast that way.

Nice. I flip 1 or 2 a year also. Which has been good when I can get them. My guy does pretty good at getting me them before market and some foreclosure stuff. Cash only quick settlement is a must

[AlexFL]

Real estate is slow and might blow up in your face. You guys should try angel investments into biotech.

[Mike00]

Originally Posted by AlexFL

Real estate is slow and might blow up in your face. You guys should try angel investments into biotech.

Real estate blowing up in our face means you leveraged yourself nuts. From a cash flow perspective it’s very hard to screw it up. The trick is you need money to make money or you hav to leverage yourself to the hilt.

I’m neither. It’s slow in only in the beginning when you start hitting 10-15 properties it snowballs fast. I like safe long term wealth that doesn’t go away and generates passive income

[Donatello.]

Originally Posted by Mike00

X1000! Love my job but I’d much rather have a high income and not work and be able to do anything I want 55-75.

Yep added 3 over last 12 months. It’s starting to roll fast as to your point it picks up steam quickly. The big trick is not to touch the profits though and keep throwing w2 at it which is tough for some folks.

Thing is because I want a GT3 / lambo and growth in my future I Have to go beyond the w2. Otherwise I’d retire younger haha. But 55 is a pretty good age to retire as a millenial if you ask me. And who knows if I have more good years than average years on the w2 then it could be much younger. I just don’t budget/forecast that way.

Because most Americans do not have a W2 to support any rentals, forget about 11...

[Humdizzle]

smoking tires take after driving it for pcoty 2022:
- they built a 458
- rides well enough
- as a performance car it is stellar
- talks about GM engineer stating he couldn't believe ferrari ditched the 458 for the 488.
- awesome powerband, extremely fast
- makes the base c8 look 'sad af' when parked next to eachother

- gets asked if he's upset he bought a boxster spyder instead of the z06. says no he still wants his boxster because manual. but if he had more money he'd definitely want a z06

- says anyone who wants a z06 should just wait on the list. it will be worth it

- only downside is the panel gaps still don't line up right compared to similarly priced competitors. states the gt4rs and m4csl at the test didn't have panel gap issues.

[G MONEY]

Originally Posted by Mike00

Real estate blowing up in our face means you leveraged yourself nuts. From a cash flow perspective it’s very hard to screw it up. The trick is you need money to make money or you hav to leverage yourself to the hilt.

I’m neither. It’s slow in only in the beginning when you start hitting 10-15 properties it snowballs fast. I like safe long term wealth that doesn’t go away and generates passive income

Yes. I'm making money every month on every house now. Some are totally paid off which is nice. Don't want them all paid off anyway for tax shit. It was hard not to sell them during the boom. In 10 years they will all be paid off, I will sell most and ride off into the sunset:-) it will help pay for my 30 year old girlfriend. Ha ha ha

[Mike00]

Originally Posted by Donatello.

Because most Americans do not have a W2 to support any rentals, forget about 11...

Yes and no. My very first property I bought I was 25 had just got out of a relationship and did an FHA loan with 3.5% down or a bit over $5300. When I moved out I kept the property knowing it would cash flow initially not a ton but 11 years later it would have been $850 a month profit - no money down. I had long since paid it off but for the most part (outside of one car at 29 and Audi S4) I focused on wealth building. I lived below my means and each year got easier as we added passive income (and simultaneously my w2 went up). Now I paid my properties off faster and I added a bunch faster. I also do 15 year loans with more down so it cash flows immediately but my income triples quickly, so the way I’m doing it is well supported by a w2.

but the truth of the matter is any dual household income could do this if they were willing to give up a bit or give up the BMWs and Corvettes, or Hellcats early on in life. I’m not saying all could build the wealth we are discussing (although YOu’d be surprised if you started young and worked hard for best deal which I’m not as concerned about) but you can certainly become wealth independent if you are median to a bit above median income.

In my case it was not spending like so many americans do (there is a reason 1/3rd of people making 250k a year live paycheck to paycheck). In my case I gave up luxuries like a fun car (until the vette at 36) or in buying half the house we “could afford”. We still have a nice house but we didn’t try and go house broke when my wife and I built out 3300 sq foot property. IT was right in median house price range or for the time probably a bit above but not much - from a mortgage approval perspective the could have afforded 2.5x. Anyway there are definitely things we could do to improve the country but the truth is - at all income levels - people spend to much and invest to little. 10 years of being good and not even really cutting back but investing back in made a world of difference in our income.

Originally Posted by G MONEY

Yes. I'm making money every month on every house now. Some are totally paid off which is nice. Don't want them all paid off anyway for tax shit. It was hard not to sell them during the boom. In 10 years they will all be paid off, I will sell most and ride off into the sunset:-) it will help pay for my 30 year old girlfriend. Ha ha ha

So It’s funny I’ve done the math and I don’t find it worthwhile to sell them off. The recurring income (mix of trad and str) is strong enough that when all paid off I’d rather keep that then live off the interest on the capital (unless I was willing to chance like an index and deal with ups and downs for the 8-10% gains) not sure I would like that result long term.

Long term plans for me right now might involve an accountant or future kid to take over. Property management handles most of the day to day and you ust have to do bookkeeping. In 25 years maybe I’ll feel different but frankly I think I’ll just set it up to turn over to the kids and et them inherit the recurring income. Done right they could just keep growing it with some of the profits.

[Donatello.]

Originally Posted by Mike00

Yes and no. My very first property I bought I was 25 had just got out of a relationship and did an FHA loan with 3.5% down or a bit over $5300. When I moved out I kept the property knowing it would cash flow initially not a ton but 11 years later it would have been $850 a month profit - no money down. I had long since paid it off but for the most part (outside of one car at 29 and Audi S4) I focused on wealth building. I lived below my means and each year got easier as we added passive income (and simultaneously my w2 went up). Now I paid my properties off faster and I added a bunch faster. I also do 15 year loans with more down so it cash flows immediately but my income triples quickly, so the way I’m doing it is well supported by a w2.

but the truth of the matter is any dual household income could do this if they were willing to give up a bit or give up the BMWs and Corvettes, or Hellcats early on in life. I’m not saying all could build the wealth we are discussing (although YOu’d be surprised if you started young and worked hard for best deal which I’m not as concerned about) but you can certainly become wealth independent if you are median to a bit above median income.

In my case it was not spending like so many americans do (there is a reason 1/3rd of people making 250k a year live paycheck to paycheck). In my case I gave up luxuries like a fun car (until the vette at 36) or in buying half the house we “could afford”. We still have a nice house but we didn’t try and go house broke when my wife and I built out 3300 sq foot property. IT was right in median house price range or for the time probably a bit above but not much - from a mortgage approval perspective the could have afforded 2.5x. Anyway there are definitely things we could do to improve the country but the truth is - at all income levels - people spend to much and invest to little. 10 years of being good and not even really cutting back but investing back in made a world of difference in our income.



So It’s funny I’ve done the math and I don’t find it worthwhile to sell them off. The recurring income (mix of trad and str) is strong enough that when all paid off I’d rather keep that then live off the interest on the capital (unless I was willing to chance like an index and deal with ups and downs for the 8-10% gains) not sure I would like that result long term.

Long term plans for me right now might involve an accountant or future kid to take over. Property management handles most of the day to day and you ust have to do bookkeeping. In 25 years maybe I’ll feel different but frankly I think I’ll just set it up to turn over to the kids and et them inherit the recurring income. Done right they could just keep growing it with some of the profits.

Buying a property that should not be bulldozed and somewhere where anyone would want to live for $5300 days are long gone. My point stands.

[Mike00]

Originally Posted by Donatello.

Buying a property that should not be bulldozed and somewhere where anyone would want to live for $5300 days are long gone. My point stands.

It was only 12 years ago . Honestly if I wanted to venture into markets in areas I’m not as familiar with the Midwest Ohio, Indiana and other areas cash flow very high. Just don’t appreciate as much - it would be very doable with The down payments I’m discussing.

Meanwhile that down payment of $5300 (now paid) would not be $8500. It’s more complex in parts of the country but markets are slowing there are actually buying opportunities. Also I did that with no savings, no plannings.

The real point is if you are above the median income let’s say 65-85k there are plenty of opportunities to make money but it requires giving up and/or some work. The house hacking way some people do is find a duplex buy that rent out one side, live in the other. And that is just one of a lot of ways to do it.

Look if you are below 55k a year yeah it’s pretty much hard to do but I know people that do it but they have to get very creative and do flips or look at multi-families and live in on with an FHA loan and rent out the other 2-3. If you have low income it’s a 10-year ramp. If you have income 5-6 years can make it happen fast.

For an east coaster. If I didn’t make a lot of money I’d look at Midwest markets to invest for cash flow.

[AlexFL]

Originally Posted by Mike00

I like safe long term wealth that doesn’t go away and generates passive income

Fair enough

[G MONEY]

Originally Posted by Donatello.

Buying a property that should not be bulldozed and somewhere where anyone would want to live for $5300 days are long gone. My point stands.

Yeah. In the beginning I would put down as much as possible. After awhile it was 50% and 15 year mortgages. Always wanted them paid off before retirement. Plus I would normally take the profits from my flips and pay some down. Plus do a kick ass Vegas trip or Scottsdale for golf and the Waste management tournament. I highly recommend to anyone!! Lol. I always tell the young kids at work, but rentals. It's some work in the beginning but it's like free money now. Plus I think rentals will be more and more popular. These kids don't want to own or be responsible for shit.

[Mike00]

Originally Posted by G MONEY

Yeah. In the beginning I would put down as much as possible. After awhile it was 50% and 15 year mortgages. Always wanted them paid off before retirement. Plus I would normally take the profits from my flips and pay some down. Plus do a kick ass Vegas trip or Scottsdale for golf and the Waste management tournament. I highly recommend to anyone!! Lol. I always tell the young kids at work, but rentals. It's some work in the beginning but it's like free money now. Plus I think rentals will be more and more popular. These kids don't want to own or be responsible for shit.

This. My FHA was just my first home. These days Im 50% and 15 year for cash flow and equity plus relatively low. Unless it’s a STR those tend to be 30% down.

Eithe way though there is no reason why somebody couldn’t put off buying say a Hellcat for 5 years. Bank that money and then start out with a rental that would probably make the next hellcat free. And then rinse/repeat. it’s not rocket science just delayed gratification.

[Donatello.]

Originally Posted by Mike00

This. My FHA was just my first home. These days Im 50% and 15 year for cash flow and equity plus relatively low. Unless it’s a STR those tend to be 30% down.

Eithe way though there is no reason why somebody couldn’t put off buying say a Hellcat for 5 years. Bank that money and then start out with a rental that would probably make the next hellcat free. And then rinse/repeat. it’s not rocket science just delayed gratification.

Nice pot shot, slick. No sense is trying to talk to you. Good day. Humility, get some

[Mike00]

Originally Posted by Donatello.

Nice pot shot, slick. No sense is trying to talk to you. Good day. Humility, get some

I gave facts. You just said it wasn’t possible - no supporting data point. I then used a real world example and you claim it’s a pot shot? Mmm K.

I also agreed with you that it’s al ot harder today. But the same thing that was true 10 years ago is true today - building wealth requires living below your means. Harder to do in general today but it’s not impossible. And it wasn’t a pot shot but simple obvservation that it is very easy to take any car (plenty of people of all income levels and buying $50k-$75k cars) Delayed gratification means no $50k-75k one round but that with an investment, they then have that car paid for if not more.

I’m not saying it’s not harder to build wealth these days - it is. but americans also make it harder. If you want to call it a pot shot fine. but you just put a one liner out there saying not possible and gave no reason as to why. I listed out reasons.

Or, I’ll give another one. I could buy a lambo huracan this year cash. instead I made an investment that will net me on average $35k a year next 5 years. $40k a year 5-10. And $50k a year there after. Whats the better path?

[Cos270]

I love where this thread has ended up.

[c1pher]

Originally Posted by Humdizzle

smoking tires take after driving it for pcoty 2022:
- they built a 458
- rides well enough
- as a performance car it is stellar
- talks about GM engineer stating he couldn't believe ferrari ditched the 458 for the 488.
- awesome powerband, extremely fast
- makes the base c8 look 'sad af' when parked next to eachother

- gets asked if he's upset he bought a boxster spyder instead of the z06. says no he still wants his boxster because manual. but if he had more money he'd definitely want a z06

- says anyone who wants a z06 should just wait on the list. it will be worth it

- only downside is the panel gaps still don't line up right compared to similarly priced competitors. states the gt4rs and m4csl at the test didn't have panel gap issues.

Fit and finish is a concern of mine. When I paid $55k for my C7, it was acceptable but 3x for a nicely optioned 3LZ, the quality needs to be there. People who compare a Porsche’s performance figures only vs price don’t really understand the actual quality and attention to detail put into them for being a semi bespoke car.

[dgoldenz]

Originally Posted by c1pher

Fit and finish is a concern of mine. When I paid $55k for my C7, it was acceptable but 3x for a nicely optioned 3LZ, the quality needs to be there. People who compare a Porsche’s performance figures only vs price don’t really understand the actual quality and attention to detail put into them for being a semi bespoke car.

I recently bought an Aston Martin Vanquish and the quality and attention to detail of everything is simply incredible. Obviously the z06 is being compared to the 458 for good reason, and the 458 has its own build quality issues (sticky buttons, falling headliner, dash leather warping, etc) but the "feel" of an Aston or Ferrari is something GM just can't touch. The Z06 will be great, but it's still a Chevy when all said and done. The drive will be fantastic though, can't wait to give one a spin. I wish they had come up with a better steering wheel though, that thing looks awful.

[AlexFL]

Originally Posted by c1pher

Fit and finish is a concern of mine.

This and the LT6 reliability. Will it hold up and not overheat, especially if people decide to track their Z06?

[BGM-M3COMP]

This is becoming more supercar everyday!!! haha

Can't wait to own this supercar.

[c1pher]

It’s a big car.

[Higgs Boson]

Originally Posted by c1pher

It’s a big car.

What isn't