Long story short I've been doing "Internet stuff" for years and I'm totally burnt, and I'm REALLY sick of sitting in front of computers. I'm going to semi-retire for at least the next year or so and recharge - but I'm looking for something fun to do really part-time to at least cover my expenses and not live off of savings, etc.
I'm a total car guy, and have owned tons of high-end cars over the years. So my first thought was to flip high-end cars. I'm thinking cars in the $50-120k range where you could potentially make a 5-figure profit on each car.
I live in SoCal so have access to a huge market of buyers and sellers.
I figure that no matter what's going on with the economy, etc. there are always people buying high-end cars, and there are also always people who need to sell their high-end car for quick cash for one reason or another.
My goal would be to simply buy low and sell high. Basically just trying to buy cars from motivated sellers, and flip 1 or 2 a month maybe. My pitch would be simple - if you want to sell your car FAST I can be there with cash within 4 hours (or whatever).
Obviously I would be offering a good bit less than the car is worth in return, but I know there are people out there in situations where they need to raise cash quickly and discreetly (i.e. no banks, no inquiries from quick cash loan places on their credit for the next 7 years, etc.)
Has anyone done this, or doing it now? Anyone see any reason it wouldn't work? The way I see it, it's basically no different than going around making lowball offers on real estate. Should just be a numbers game right?
Just for fun I am thinking of tracking all for sale listings of high end cars in SoCal for the next few weeks, and emailing every single one of them my "pitch" and see what kind of response I get. That's what I need to do, but I'm still curious what you guys and gals think about my plan ...
I'm a total car guy, and have owned tons of high-end cars over the years. So my first thought was to flip high-end cars. I'm thinking cars in the $50-120k range where you could potentially make a 5-figure profit on each car.
I live in SoCal so have access to a huge market of buyers and sellers.
I figure that no matter what's going on with the economy, etc. there are always people buying high-end cars, and there are also always people who need to sell their high-end car for quick cash for one reason or another.
My goal would be to simply buy low and sell high. Basically just trying to buy cars from motivated sellers, and flip 1 or 2 a month maybe. My pitch would be simple - if you want to sell your car FAST I can be there with cash within 4 hours (or whatever).
Obviously I would be offering a good bit less than the car is worth in return, but I know there are people out there in situations where they need to raise cash quickly and discreetly (i.e. no banks, no inquiries from quick cash loan places on their credit for the next 7 years, etc.)
Has anyone done this, or doing it now? Anyone see any reason it wouldn't work? The way I see it, it's basically no different than going around making lowball offers on real estate. Should just be a numbers game right?
Just for fun I am thinking of tracking all for sale listings of high end cars in SoCal for the next few weeks, and emailing every single one of them my "pitch" and see what kind of response I get. That's what I need to do, but I'm still curious what you guys and gals think about my plan ...
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