Is your car holding you back from getting started or achieving more in real estate investing? Could it be the missing key to greater real estate investing success, or is it just another excuse?
Your “we buy houses” sign on the side of your grandpa’s 70s station wagon might not do wonders for your credibility, but very few real estate agents or investors make a mint because of their cars.
A new Ferrari, the latest Lambo, or Bentley might be leveraged in some cases, but still requires you to be good with in person networking. Can’t you find a better return on a couple hundred thousand dollars of real estate marketing money?
If you have the extra cash and need to bury it somewhere, it might be better to put it back into real estate investing. Let your profits pay for your toys, and don’t sabotage or stunt your growth because you are weighed down with debt.
Unless you are actually driving prospects around to show property, odds are you don’t need a fancier car than you have now. Even then, you might be better off renting one for the day. Hertz and other firms even offer hourly rentals. So you can still show off in the latest Benz or sports car without being burdened by the debt or insurance payments every month.
Plus, with so much able to be done over the internet today, chances are you don’t need a car at all to get out and flip a few properties.
