So I have been presented an opportunity and would love to get the feedback from the community.
A few of you may have read my thread about flipping cars a while back: https://www.thefastlaneforum.com/general-business-discussion/23241-flipping-cars.html
As a side gig I had been buying used cars and flipping them for a small profit. I put the whole thing on the side to go after some other opportunities that never panned out, and have recently been presented with another opportunity. I was also running under the radar and didn't plan on pursuing it as more than a hobby.
Well, recently the guy I used to work as a auto tech for wants to go full-time with the used auto business, but doesn't have the time while running his repair business. He's been running his shop successfully for over 25 years, and is someone I trust to do this with.
He already has a dealers license, a building, a huge customer base, and all the equipment we could ever need to repair the cars. He is also a successful entrepreneur in the industry. I on the other hand would bring the time, ability to recondition and repair the vehicles, and do everything related to the sales side. Both of us have bought and sold cars on the small scale.
My dilemma is that to go full time in this, I would be giving up a 60k + job with full benefits and start from scratch. Having never done this, I'm a little hesitant.
Dealing used cars specifically will likely never be a "fastlane" business, but with some a$$-busting we may be able to turn a 200-300k a year operation. My goal would really be to get into the financing part of it though. I figure if we get a couple hundred cars out there over the course of 2-3 years we would have some nice cash flowing in.
I am trying to decide if I should just stick it out in corporate America and continue to look at other fastlane opportunities, or take this one and run with it. For this specific business I am confident that I would never find a more perfect opportunity.
Any advice from you guys would certainly be appreciated as I try to go over this one in my head.
A few of you may have read my thread about flipping cars a while back: https://www.thefastlaneforum.com/general-business-discussion/23241-flipping-cars.html
As a side gig I had been buying used cars and flipping them for a small profit. I put the whole thing on the side to go after some other opportunities that never panned out, and have recently been presented with another opportunity. I was also running under the radar and didn't plan on pursuing it as more than a hobby.
Well, recently the guy I used to work as a auto tech for wants to go full-time with the used auto business, but doesn't have the time while running his repair business. He's been running his shop successfully for over 25 years, and is someone I trust to do this with.
He already has a dealers license, a building, a huge customer base, and all the equipment we could ever need to repair the cars. He is also a successful entrepreneur in the industry. I on the other hand would bring the time, ability to recondition and repair the vehicles, and do everything related to the sales side. Both of us have bought and sold cars on the small scale.
My dilemma is that to go full time in this, I would be giving up a 60k + job with full benefits and start from scratch. Having never done this, I'm a little hesitant.
Dealing used cars specifically will likely never be a "fastlane" business, but with some a$$-busting we may be able to turn a 200-300k a year operation. My goal would really be to get into the financing part of it though. I figure if we get a couple hundred cars out there over the course of 2-3 years we would have some nice cash flowing in.
I am trying to decide if I should just stick it out in corporate America and continue to look at other fastlane opportunities, or take this one and run with it. For this specific business I am confident that I would never find a more perfect opportunity.
Any advice from you guys would certainly be appreciated as I try to go over this one in my head.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Last edited by a moderator:
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
) epf emtu djidl xjev wijodmit dep ci sihotvisif op vji duapvsz zua'f onqusv vu (O vjopl Iasu 3 ot noponem siraosinipv op nutv, xovj Iasu 2 quttocmi up tuni qmedit, cav zua civvis gopf vjot opgu gus zuas qesvodames tovaevoup).
