Re: 30 cents on the dollar

Posted by Tim Cole On 2015/2/2 16:28:26

The people I have known who made money on their cars mostly did it this way:

a) Buy cars in good condition and store them properly

b) Buy cars that have yet to be in favor and store them properly

c) Buy selected desirable models at very good prices and store them properly

These people didn't spend a lot of money on the cars except for the holding and storage costs. Hoarders threw nice cars into sheds where they rusted away and became junk.

Some of the cars these people didn't make money on because they held them until death.

Right now a lot of the craziness looks like money laundering. If you are paying cash for something overpriced and sell it at a loss - who cares if the purpose was to clean a lot of drug money? Don't scoff. I was at Shooters in Fort Lauderdale and the cigarette boats were going out to pick up cocaine. You had 20 year old coke dealers paying seven figures for Ferraris.