What did it take to own your first Ferrari? An aspiring young businessman must ask...

I have been a member here for a only a month or so and have been a lurker for some time longer then that. All the time truly inspired to be successful and attempt to learn what exactly some of you do to pay for your toys. Although I haven't yet seen a thread about it, hopefully I placed this thread in the correct forum. Anyhow, my question to you is what did it take for you to be where you are today? I am 19 and know that one day I will enjoy Ferrari's and other amenities of life. I don't have a doubt that I will be successful. So I come here to ask some of the pro's on what roads and paths they took and what they see in their future. Feel free to email me as well, it couldn't hurt to have some mentors to help me on my path to success.
E-mail: [email protected]

 

A bank loan the size of the Peruvian national debt...

 

Dumping my possessive, over bearing, lack of sex drive, money sucking, her family leeching, got fat and ugly as the years past by ex-girlfriend. Am so very glad to be rid of that BEYOTCH!

 

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$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ to get it.



$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ to keep it running.

 

I bought and sold cars (buy low, sell high), until i had enough money to get my 308. i actually sold a 71 stingray convertible for more than i paid for the 308.......

 

These steps should hit the nail on the head for ya!

1) Get a decent job.
2) Save your money.
3) Establish credit and pay your bills on time.
4) Open a 401K at work and pack it for three years
5) Use your 401K to borrow against to buy a home
4) Put more money in the bank
5) Eat beans for a year and save for your DP on a entry level Ferrari
6) Buy your Ferrari
7) Get the first repair bill for a major service
8) B&M about #7
9) Buy a ski boat
10) Buy a second home, move into it and rent out your old one.
11) Pick up a great chick in the Ferrari
12) Get married
13) Have three kids
14) Get divorced, lose your homes, $ accounts and boat, and keep the Ferrari
15) Sell your Ferrari to make the DP on a new home
16) Take out a home equity line of credit to buy a new Ferrari
17) Buy another ski boat
18) See #7 above
19) Sign a pre-nup and get married again
20) Spend 80% of your time on FChat B&M'ing about 1-19!

 

Dude, she is ALL yours. Wish you all the best. (Said in good humor my friend) Perhaps you deserve each other? ;-)

 

To simplify even more: Save way more than you spend. Buy real estate as soon as possible.

 

Are you nuts???????????????

 

WAIT!

So I've been married, had the three kids, lost the house....but still have the boat AND the Ferrari!!!!

THE WINNER!

Pull that can of beans out of the barrel fire would ya? Watch out it's HOT!

 

...watch out those sparks don't hit my Dome Tent........

 

I'm gonna quote another member (wax? sorry, can't remember):

Sign the back of the checks, not the front.


Slight hi-jack ... how do you own your ferraris? Cash upfront? Lease? Company car? Begged the bank for some money?

 

Or you can do what I did and start a rental company. Then you own a Ferrari and get paid for it, instead of the other way around. (You do however need the stomach to let dozens of strangers then drive the car).

nlh

 

Darth 550 said that, i will never forget it either.

Cheers to Darth and whatever he does in the porn industry

 

LMFAO!!!

 

If I started over, I'd buy a million $ company - not start one from scratch.
Took too damn looooong.

 

I bought my 1st Ferrari at 20 then married at 21 (big mistake) then divorced and didn't give a penny to that crazy b1tch, then married again at 25 with a 19 year old cousin of Salma Hayek then divorced her at 28 and bought an NSX and the next year a Testarossa, then I married a 17 year old at 30 and bought a 996TT and just the other day(Im 33 now) signed my name for the Ferrari 420 (also my birthday is 4/20). As a rule I never had kids and will not until I am 35 or older and never give an inch to women or you will be sorry. As for money is all in how you play your game and I don't believe in college but I never did need to go to one...After all is just about luck, there is no answer to your question unless you give specifics about your playing field. Construction did it for my family.

 

Your first Ferrari by the age of 20! Awsome! I am ganna try to get my first Ferrari by the time i turn 30. That is my ultimate goal in life now.

 

Dude,

1 Live below your means (i mean as low as you can)
2 invest the money that you save
3 be disciplined in what you do
4 be patient
5 and remember if it looks too good to be true, it probably is.

just my $0.02

 

The first one was bought when I was a grad student. Broke every financial rule out there, but I managed and still have it.

Second one was as easy as writing a check.

Understand that getting one is not a rational decision. They don't make sense, so don't spend hours trying to justify it.

They are expensive to maintain and operate. Budget 30% of the purchase price for maintenance for the first 3 years on an older car.

Plan ahead and getting one is as easy as falling off a log...

 

I too yearned for a Ferrari, from the age of about 15 to 45. Then one day as I sat drooling over a classic car magazine, my wife said to me, " Are you going to talk about it all your life, or are you ever going to buy one?"

That did the trick!

I am still happily married and now on my second Ferrari. Good luck.

 

Stewardship.

 

At 47, being married for 15 years and still trying to get the green light, I just figured it out. I need to introduce my wife to yours! If my wife ever said that to me a 355 would be sitting in my garage by the end of the week. You sir are a lucky man, keep her.

 

Now that is the best thing Ive heard all week

Thanks for that.