Avg net income of M5 owner?

[soooma]

Originally Posted by znammzM5

I drive a 14 M6, My income is roughly $36,XXX a year, I'm been in the Army for 11 years, I feel so poor compares to you guy.

You deserve it
We are safe because of people like you

[soooma]

Originally Posted by Stash21

So tax evasion?

And I thought we were safe because of you -
LOL

[Cali01]

Originally Posted by Fantasm

You could also say that sinking $200K-$400K into a house's downpayment isn't as smart as leveraging that same $200-$400K into investment homes and have the profits pay for all of your rent some place nice (plus still own the rental houses and receive capital appreciation).

Thats not sinking money it's still there as equity assuming you live in a appreciating house, and payments well you know depending how you have set up most of it does go to principal. I have a 10 year mortgage on my house and 10 to 15 on all my investment properties. Yes I'm banking on the fact that we will not have another market crash for while, and if I'm right I will cash out during the high before another crash hopefully and if I'm wrong the guys who actually got super long term loan i.e. 30, 40, 50 years will actually shoot ahead because maybe they will still be able to break even or recoup their down payment. But this is business brother man its all about risk, it'll take you to the top or it'll even take your underwear. Not many safe ways to do business, imo. I tend to keep personal and business away from each other. Maybe buying a house is a want, but you know its YOUR house, you can do what you want you are the land lord. Everybody is entitled to their own opinion and priorities, and I respect that.

[M5Rlz]

Originally Posted by Stash21

So tax evasion?

More like he's got 3k a month to do with what he pleases and if he's in the army and rent etc. is negligible he's got plenty to play with.

[Propofoln]

One thing I can do as a physician who is technically my own company (I.e.- P.A.), is write off 95% of my lease payment as a business expense. I use my car 95% for business, so can write all that off plus $.54 a mile in Texas for gas and upkeep. The M5 is very affordable once you factor in that.

[B-1Pilot]

Originally Posted by znammzM5

36K is what my W-2 says I make =)

haha... I know your secret.

I'm guessing most these guys dont know you are tax-free for your deployments / overseas assignments, get a number of allowances that arent technically income so non-taxable, etc.

The real number of your military compensation after 11 years, if you were an officer, would be north of $100k...

yeah my primary income is a matter of public record too--

[MSportDC]

Originally Posted by Vanditz

One thing I can do as a physician who is technically my own company (I.e.- P.A.), is write off 95% of my lease payment as a business expense. I use my car 95% for business, so can write all that off plus $.54 a mile in Texas for gas and upkeep. The M5 is very affordable once you factor in that.

As do many people on here I'm sure.

[znammzM6]

I'm not an Officer, just a good own enlisted with no college degree. I think when I factor in everything, allowances, tax credits, insurances, etc and so benefits that the military given me is come out to about 70-72K a year. plus military interest rate .99 for 72 months. This made my dream come true to own an M6; and I have to cut back on alot of things, no smoking, no partying or clubbing, only occasionally go out once or twice a week.

Insurances here is not bad either, only $1,200 a year up here in WA.

Originally Posted by B-1Pilot

haha... I know your secret.

I'm guessing most these guys dont know you are tax-free for your deployments / overseas assignments, get a number of allowances that arent technically income so non-taxable, etc.

The real number of your military compensation after 11 years, if you were an officer, would be north of $100k...

yeah my primary income is a matter of public record too--

[///M3THOD]

Originally Posted by znammzM5

I'm not an Officer, just a good own enlisted with no college degree. I think when I factor in everything, allowances, tax credits, insurances, etc and so benefits that the military given me is come out to about 70-72K a year. plus military interest rate .99 for 72 months. This made my dream come true to own an M6; and I have to cut back on alot of things, no smoking, no partying or clubbing, only occasionally go out once or twice a week.

Insurances here is not bad either, only $1,200 a year up here in WA.

Jeezus.. I pay triple that

[stealth.pilot]

Originally Posted by ///M3THOD

Jeezus.. I pay triple that

Interesting I live in Buckhead too and I pay only $830 a year for insuring the M5 and I have very high coverages. Thats with a multi-policy discount and a clean license though!

[///M3THOD]

Originally Posted by stealth.pilot

Interesting I live in Buckhead too and I pay only $830 a year for insuring the M5 and I have very high coverages. Thats with a multi-policy discount and a clean license though!

Yeahhhh, so my license might have a few speeding tickets on it...

[M6-Coupe]

Originally Posted by znammzM5

Insurances here is not bad either, only $1,200 a year up here in WA.

I pay twice with all discounts I got...

[znammzM6]

I got one speeding over 10 miles ticket and and an accident under my belt for the last three years.

[znammzM6]

Originally Posted by M6-Coupe

I pay twice with all discounts I got...

That's still not bad, I think in CA is like 3-4K a year to insure an M6

[znammzM6]

So I will be going to Hawaii in December to station in Oahu for three years, should I keep the M6 or trade in for a Z06 when it come out???

[C's Bimmer]

I love these threads. They're so silly. LOL!

[PhilT3]

Originally Posted by C's Bimmer

I love these threads. They're so silly. LOL!

Lol... Seriously...

[BavariaExclusive]

You mean one thing you can do as a business owner? But I'm still proud of you being a physician.

Originally Posted by Vanditz

One thing I can do as a physician who is technically my own company (I.e.- P.A.), is write off 95% of my lease payment as a business expense. I use my car 95% for business, so can write all that off plus $.54 a mile in Texas for gas and upkeep. The M5 is very affordable once you factor in that.

[M5essex]

my monthly finance on the M5 is as much as my mortgage...

[///SAL]

[M6-Coupe]

Originally Posted by M5essex

my monthly finance on the M5 is as much as my mortgage...

lol....

[greentrbo95gst]

Originally Posted by M5essex

my monthly finance on the M5 is as much as my mortgage...

I wish my mortgage was as much as the m5 pmt.......but not the other way around.