Lamborghini Talk banner

21 - 40 of 41 Posts

·
Registered
Joined
·
78 Posts
Discussion Starter #21
I have to agree with Clyde. As a developer and real estate investor for 25 years (In dfw),assuming the housing market will go down (especially in urban areas) is not a well founded assumption. Just because houses were much cheaper 4 years ago does not mean that housing today will go down. The crash of 2008 to 2013 was the worst since the great depression. If you look at housing prices pre crash and now, it is as if houses appreciated at a normal pace over the last ten years. It just all hit in the last 3 years. Same thing happened to the dow. With the growth projections for DFW and the increasing difficulty and expense of urban and suburban development, prices are likely going to continue to rise. (Unless a major economic event changes the climate drastically) DFW has one the lowest housing cost of any major metropolitan area in the US. It is home to a lot of Major builders and developers which keeps a steady supply of new housing. The problem is that it is moving further and further out, Traffic is becoming a limiting factor thus driving pricing higher closer in. It is your choice but why not buy a used Huracan or Gallardo and a condo or house? I would absolutely buy the house first. It is also the only major tax write off you will have. Enjoy it while you can because as your income goes way up the deduction goes away. Lee
You know, that's what my pops is telling me... to buy a house.

Here's a question for you... say my job was near or around the Dallas downtown area---- is there a place you'd recommend that has good condos to buy? I'm not against buying a house, but it would be cool to do both house and car.
 

·
Registered
Joined
·
577 Posts
Lambo Girl! My son was at SMU during that time and I'd see the car when I'd come in for football games.
There was even an article in the student paper about her and the speculation of her circumstances. Like she was a Saudi princess.:rolling: She was kind of famous. My son kept in touch with her up until he got married a few months ago.
 

·
Registered
Joined
·
54 Posts
To those who live in a big city----do you take any special precautions storing your Lamborghini?

I live in a big city (Dallas). There's many people in this city, and I assume some might have bad intentions.

How do you store/protect your car? Especially if you're living in an apartment complex?

I've looked at exotic car storage places that have 24/7 access, where you can safely store your car. But would like to hear if I'm going overboard, or not?

A lot of my friends here in the Philly area utilize third party enclosed garages, storage sites, or many of the 3rd party-owned parking garages will rent you a space monthly or yearly.
 

·
Registered
Joined
·
600 Posts
Totally understand this situation.

If you need to get an apartment with shared secure parking, that will do.
Just park it and make an effort to cover it whenever it's in the parking complex with one of those car covers that don't have the "Lamborghini" logo emblazoned all over it.
This makes it a lot less noticeable and no one will bother looking or touching it (trust me).

If worse comes to worst and you can't get the apartment with any parking, get one of these secure, touchless car covers from Vertar :evil:
They're resistant to hail, grenades and antifa.





Congratulations on saving up for the Huracan. Go get it.
How does that hold up to wind?
 

·
Registered
Joined
·
12,001 Posts
What Lee said.

Also, congrats on the new job and your upward career path. But, keep in mind as nice as a car is, particularly Lamborghinis, they are depreciating assets for the most part (Huracan for sure, a Muira not so much). While I hear your thoughts on the housing market being frothy, there is no guarantee it will go down and even if it does overtime housing has always at least kept up with inflation and beat it handsomely over time. A suggestion if I may humbly say so is push yourself to afford the cheapest house in the nicest neighborhood and maybe for now that Huracan can wait. Certainly not trying to throw a wet blanket on your dream but one is a lifelong investment and the other is a depreciating asset. Just sayin’
Nicely put.
 

·
Registered
Joined
·
12,001 Posts
I know it’s just life but it is a shame we can’t park and leave our cars and confidently know there won’t be any problems with it when we return.
 

·
Registered
Joined
·
12,001 Posts
I was brought up to never touch a car and definitely don’t touch the glass. Others seem to have it in them to break or harm cars.
 

·
Registered
Joined
·
78 Posts
Discussion Starter #31
A lot of my friends here in the Philly area utilize third party enclosed garages, storage sites, or many of the 3rd party-owned parking garages will rent you a space monthly or yearly.
Thanks SouthJersey. Philly is an even tougher place to own this car. Philly is a cool place, but there's some tough people up there!
 

·
Registered
Joined
·
78 Posts
Discussion Starter #32
OP here. It's not necessarily a bad area. And I'm moving anyway when I get a job. It's just I drive around a city of millions, and there's a lot of people, some I assume would see a bright colored Lamborghini and might want it. :/

I'm not buying a damn house in this inflated market. Buying a house is a personal decision.
 

·
Premium Member
Joined
·
408 Posts

·
Registered
Joined
·
12,001 Posts
Is the problem to the degree where they would knock you under the ear in broad daylight while parked at shop and steal you car?
 

·
Registered
Joined
·
1,281 Posts
It is more a question of priority, investing and good decision making than anything. Are you paying cash or financing? If paying cash then go for it just realizing you will lose value. If you spent the same money on a rental property, it would pay for the lambo in a couple of years and you would own the rental property outright. I would buy the smallest single family residence needing repairs in the nicest neighborhood you can afford. Keep it two years , fix up and convert to a rental. Condos generally are not very good investments -too many fees and maintenance costs. . When I had a lot of rental houses , it was all single family. When I was in my 20s out of college making really good money, I bought a sports car, boat and other toys only to go broke 3 years later. It is more difficult to invest than spend because there is no immediate gratification. I wish I had invested and saved instead of spending on depreciating assets. Now I am just the opposite and my net worth goes up every day. I can buy any car I want but choose to invest instead. I am looking at manual murcies and early Aventadors just because they will probably lose little value if any. But what do I know? All my vehicles , house and most of my equipment is paid for. I own multiple large developments ,various commercial properties and started from NOTHING. You can make a choice to spend or invest but you can accomplish both if you just put less in the car and more in the property. Decisions you make today will affect you for many years to come. Good luck. Choose wisely and you will prosper. A car should be a joy not a burden. I don't mean to preach just hate to see anyone make the same mistakes I did. Lee
 

·
Registered
Joined
·
78 Posts
Discussion Starter #38
It is more a question of priority, investing and good decision making than anything. Are you paying cash or financing? If paying cash then go for it just realizing you will lose value. If you spent the same money on a rental property, it would pay for the lambo in a couple of years and you would own the rental property outright. I would buy the smallest single family residence needing repairs in the nicest neighborhood you can afford. Keep it two years , fix up and convert to a rental. Condos generally are not very good investments -too many fees and maintenance costs. . When I had a lot of rental houses , it was all single family. When I was in my 20s out of college making really good money, I bought a sports car, boat and other toys only to go broke 3 years later. It is more difficult to invest than spend because there is no immediate gratification. I wish I had invested and saved instead of spending on depreciating assets. Now I am just the opposite and my net worth goes up every day. I can buy any car I want but choose to invest instead. I am looking at manual murcies and early Aventadors just because they will probably lose little value if any. But what do I know? All my vehicles , house and most of my equipment is paid for. I own multiple large developments ,various commercial properties and started from NOTHING. You can make a choice to spend or invest but you can accomplish both if you just put less in the car and more in the property. Decisions you make today will affect you for many years to come. Good luck. Choose wisely and you will prosper. A car should be a joy not a burden. I don't mean to preach just hate to see anyone make the same mistakes I did. Lee
Thanks Lee, I appreciate that wisdom. You know, I see what you're saying about buying real property. Thing is, the last three years, housing prices have inflated. Especially here in the Dallas area. So I may rent for a bit while I figure out where I'm gonna work.
 

·
Registered
Joined
·
1,281 Posts
Nothing wrong with renting especially if you are young and just starting out. Just don't put all your eggs in a toy. Lee
 
21 - 40 of 41 Posts
Top