cjarrett

That's a pretty great career path for the future right there... nice.

posternutbag2000

49, Head of Research for a Biotech start-up. Purchased my first Porsche last year; 2006 silver C2S Cab. My uncle was a Porsche mechanic and eventually opened his own shop in KC (Automekanica I think). He retired and closed the shop with the last of the air-cooled 911s (1998 I think). So I've lusted after them my whole life. Its been a fun 5 months with my weekend driver.

sandwedge

Had to bite on this one. Started to dabble in real estate while still an airline pilot with all the time off I had. Only flew around 2 weeks per month on average. That was the typical schedule so started to look for something to do with all that time off. Real estate came into focus somehow. Didn't know the first thing about it but I knew how to use a calculator and the numbers I came up with looked tasty. Talked to our accountant about the wisdom of buying rental properties. He's not cheap but considered one of the best in town. His answer to my question was: "I own 34 rental properties. Does that answer your question?"

I have no idea what the tax laws are in other countries as they relate to investment properties but here in the US our accountant told us that rental properties is the last legal tax shelter in the US. He wasn't talking out of his a$$. Me and my wife started out easy with a relatively inexpensive condo that rented in short order. Five years later we had 11 of them and paid almost no taxes on good income between me and my wife. This went on for close to 20 years and aside from the tax savings, the annual appreciation of each property has to be considered too.

The only downside is if you have a regular 5 day a week job it may be difficult to manage multiple rental properties yourself and hiring a manager to take care of it obviously takes a bite out of the proceeds. And even if you manage yourself it can be a PIA. I went through 5 evictions. I hired an attorney for the first one. He charged me $3,000 and took almost 3 months to get the freeloader out. Big mistake but it was a learning curve. Read up on the subject and did the rest of them myself which cost about $300 instead of $3,000 and I had them out in less than a month instead of almost 3 months for ten times the cost.

There's more but you get the idea.

mdrobc1213

Thanks for your service. Glad to see some of us veterans obtaining what some think is the unobtainable for us. Problem is once you get one...it becomes a serious hobby/addiction!
Congrats and thanks for your service as well. Enjoy the dream.

Me? 50's Active Duty AF Flight Surgeon living OCONUS and at the down size of 25+ years of Service to Uncle Sam. Some say I should go enjoy life a bit after so many deployments and time away from family and the world. Maybe...we'll see. Right now will enjoy my 992.1 and new Tacyan CT-4 and new to me M4 coupe!