In truth, I had no business being there!
Yet something came over me. Maybe cockiness, maybe foolishness, maybe just a killer instinct for the deal. I mustered-up the courage and said, “look, I know you want $1500 for your car, but the fact is I don’t have $1500. Your car doesn’t work and you likely have not too many buyers willing to take that risk. I can give you $500 cash. And I can have your car gone from your driveway in three hours!” At first, I was afraid I insulted her. She stopped, became quiet and thought . . . for what seemed like five minutes. Eventually, she said, “OK, but it must be gone today – OK? I need it gone today”.
Now the real problem is that I didn’t even have $500. The truth is I took a real risk. And I am not recommending you do what I did: I used my rent money that month to buy the car. But luckily it has a very happy ending.
A light went off in my head!
You see, I cleaned the car up, waxed it, got two new tires, and a battery. For a total of about $250 invested and about three hours of my time and I resold the car one week later for $1950. That is $1200 profit for three hours work. That is $400/hr! A light went off in my head! Or, perhaps I was struck by lightening. Either way, I caught the bug and my entire mind-set changed. Why work 40hrs a week at $10/hr, when I can work just 3 hours for the same amount of money. Why work hard when you can just work smart. I was sold! And the rest, as they say, is history.
“It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.”
– Charles Darwin
I learned three very valuable lessons that day. FIRST of all, I realized that you CAN get out of the rat race and make a living doing something else. SECONDLY, you do not have to know the most, be a certified dealer or run a proper dealership in order to flip cars right to the bank. And THIRDLY, sometimes a little ingenuity and your gut instinct are all it takes to become a successful car dealer, even if you began your career flipping burgers. Why flip burgers when you can flip cars? What you really need is the guts to get off the couch and do it!
In other words, you don’t have to quit your day job to start flipping cars like the best of them. Though, this doesn’t mean I didn’t make mistakes. And you will too. The important thing to do is to do it! What are you waiting for?!?!