The Challenge to end all challenges...

[ddss6_99]

Ok, so this may seem like a pretty lofty goal, but at least its something to shoot for. My goal here is to earn enough money playing poker online to pay for my 48month(4 yr) lease of the 2005 Dodge Viper I plan on getting. Now, I've broke the #'s down and I've figuered out that with a $20,000 down payment (msrp= $85,295) My payments would be $615.69 per month. Over the course of 4 years, that breaks down to $20.25 per day. That's just the monthly payments however. If I decide to take a loan for the downpayment, that'd work in another $13.69 per day, bringing the total that I'd have to make = $33.94 per day for 4 years. With a part time job it might be a little less though. So any way, that's my goal. Hopefully I can get it off the ground. Please post any opinions, questions, and anything I may have forgotten to consider even if it'll ruin the challenge. I gotta look at this from every angle before getting under way. Thanks.

[Cerril]

The upside is that your daily goal is below the hourly at a lot of limits (multitabling, at least). And your timeline is long enough that as long as you have some cushion at the beginning and a sufficient bankroll then your skill will be the determinate feature.

So what's the limit you're looking at, what skill level do your experiences put you at, and what does your bankroll support?

[Jaquen H'gar]

Coming from someone who drives what are considered to be expensive cars, I have one word for you that never figured into my initial calculations and made my heart stop when I heard an amount: INSURANCE.

Another thing, are you sure a lease is the way to go?

[doughhater]

You also might want to factor in correlated expenses such as increased insurance, increased likelihood of speeding tickets, etc.... No, having a fast car does not mean you have to drive fast, but police just seem to be drawn to cars like that.

[ddss6_99]

Well, to be honest I plan on playing some small stakes games such as 1-2 and 2-4 along with 10 or 20 SNG's. I figure that $33.94 is a very achievable number at these limits, and also the downswings that I'm sure to have will cost me a little less than say 5-10 or 15-30 games.
As for the insurance part, i have one word.....damnit...i completely forgot about that part. That'll probable cost a college aged male driver at least a couple grand per year, but I guess I'll have to cross that bridge when I get to it. My goal right now is to attain the car.

[cnfuzzd]

Seems achievable, as long as you are realistic about your needs. However, i would also look into getting a rake rebate.

peace

john nickle

[jasonHoldEm]

[ QUOTE ]
for my 48month(4 yr) lease

[from a later post] a college aged male driver

[/ QUOTE ]

Seriously reconsider a lease unless you are considerably wealthier than the average college aged male (i.e. trust fund, nice portfolio, etc...something that will provide you with guranteed money). Consider buying a nice (lower priced) car instead or better yet buy a beater and invest the money...in four years you'll have a lot more to show for it.

Relying on internet poker (or a job you don't have yet) to make your (ridiculously expensive) car payments for the next FOUR YEARS is a very dangerous game. Defaulting on a lease can seriously screw you over for years to come and this will be the period of your life when you are looking to buy your first house, etc.

IMHO there are better ways to spend that kind of money anyways (I drive a '94 escort [img]/images/graemlins/smirk.gif[/img] ), but if you must please take a moment to step back and look at the big picture. Sorry if I just rained on your parade but someone had to say it.

Peace,
J

[BusterStacks]

[ QUOTE ]
FOUR YEARS is a very dangerous game.

[/ QUOTE ]

No kidding. I think this is the worst idea ever. Not only that, you will basically kill your chances of moving up in limits where this type of goal would be worlds easier.

[mplspoker]

I have bought and leased different expensive cars. The only way leasing is the way to go is if you own your own business - which is the case for me b/c of taxes - otherwise buy. To be perfectly honest - if you are playing 1/2 and driving a $85,000 car you either really suck at poker and are honest about it(just doing it for entertainment) or are completely living FAR FAR above your means. Either case doesn't make any sense to me whatsoever.

[Evan]

Wow, that's quite a goal.
Let's do a little math.....I play 3/6 and 5/10, so let's average that to 4/8. you're playing 1/2 and 2/4, so let's call it 1.5/3. 4/8 would be 2.67 times bigger than 1.5/3 (if it existed). Dodge Viper costs $85,295 (according to you), so my car should cost $89,295*2.67 = $238,417 or roughly an Aston Martin V12 Vanquish. Now I guess we should consider that I live in New York City so I'm gonna have to pay a lot for parking (I gotta garage this bad boy). So let's knock about $10K off of my new car bankroll...that puts me right in the range for a simple Ferarri 575M.
All of this makes me wonder why I'm still taking subways, buses and taxis. Hmmmm....while I ponder that, anyone in the NYC area feel free to PM me if you wanna take a spin in a brand new Ferarri next week.

Seriosuly dude, you should really do some more homework before you invest in a Viper backed by 1/2 winnings. Good luck though if you decide to do it, wish I could swing that.