Quote:
Originally Posted by onewhippedpuppy
Not really a great ROI considering that he was carrying six figure loans. He seems pretty flippant about the risk associated with debt and never mentions what he has paid in interest during the course of financing.
Fundamentally what he did with most of the cars is something that anyone can do.
|
His “return” figure is complete BS. No discussion of interest paid is just the beginning. In another of his videos, he discusses operating cost of the exotic car rental business he had. The running cost to operate most exotics is off the charts, he figured in the neighborhood of $7.00
PER MILE. (yes 7 dollars) Those kind of numbers will skew the return dramatically.
Also, during the time he flipped many of the cars, he was working at a Lamborghini dealer. He got into them super cheap because they were cars the dealership didn’t want. No normal Joe comes across desperate owners willing to dump exotics at trade-in, or running from the repo man prices.
All very entertaining, but not really realistic. For a laugh, listen to his story of the Lamborghini he bought from the prostitute, hilarious.
