The Modfather
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Hi there! I'm new to this forum but a long-time fast-laner. I have finally reached a comfortable level of success.
I'm making about $4000/week and have about $60,000 in savings. My expenses are almost nothing - I'm currently living in a $780/month single-bedroom apartment.
Here's the deal: I want to create a millionaire "lifestyle" for myself - BUT, I want to put a system in place that will pay for it for me, so I can make the minimum payments without ever needing to worry about paying for them myself. The income from my business will remain mostly intact.
GOAL
My goal is to buy a house worth about $410,000, a Tesla Model S (about $98,000 pre-owned) and a Lamborghini Gallardo (about $140,000 pre-owned). I can probably get away with paying about $4200/month (not counting other bills like taxes)
I know a lot of people may advise me simply NOT to buy expensive luxury cars, but for me it's not optional. If I am not allowed to use my money to buy what I want, I would simply rather not make any money at all. The Lamborghini has been a dream since childhood and the Tesla has been a dream since the Roadster was released in 2008. I want to enjoy them when I'm young, not when I"m 55. I don't have any other personal expenses (I don't really go shopping or go to restaurants) so it shouldn't be too bad. I'm making enough money to make the payments now, but like I said, I would rather set up a system that buys them for me automatically.
IDEA
My idea is to buy enough rental properties to generate enough income to offset all (or most) of the payments. I figure $4000 per month should be great.
But since I've never had access to wealth, I don't know what tools to use and how to achieve this... like how to start buying rental properties, how to use a home equity loan, how much to put down on car loans.. etc. Or should I focus on generating another passive income stream. I've heard good things about currency exchange booths. There must be some way of doing it with minimal downside, while getting the most use-value out of my money.
I appreciate any advice
I'm making about $4000/week and have about $60,000 in savings. My expenses are almost nothing - I'm currently living in a $780/month single-bedroom apartment.
Here's the deal: I want to create a millionaire "lifestyle" for myself - BUT, I want to put a system in place that will pay for it for me, so I can make the minimum payments without ever needing to worry about paying for them myself. The income from my business will remain mostly intact.
GOAL
My goal is to buy a house worth about $410,000, a Tesla Model S (about $98,000 pre-owned) and a Lamborghini Gallardo (about $140,000 pre-owned). I can probably get away with paying about $4200/month (not counting other bills like taxes)
I know a lot of people may advise me simply NOT to buy expensive luxury cars, but for me it's not optional. If I am not allowed to use my money to buy what I want, I would simply rather not make any money at all. The Lamborghini has been a dream since childhood and the Tesla has been a dream since the Roadster was released in 2008. I want to enjoy them when I'm young, not when I"m 55. I don't have any other personal expenses (I don't really go shopping or go to restaurants) so it shouldn't be too bad. I'm making enough money to make the payments now, but like I said, I would rather set up a system that buys them for me automatically.
IDEA
My idea is to buy enough rental properties to generate enough income to offset all (or most) of the payments. I figure $4000 per month should be great.
But since I've never had access to wealth, I don't know what tools to use and how to achieve this... like how to start buying rental properties, how to use a home equity loan, how much to put down on car loans.. etc. Or should I focus on generating another passive income stream. I've heard good things about currency exchange booths. There must be some way of doing it with minimal downside, while getting the most use-value out of my money.
I appreciate any advice
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