There’s nothing better than going to a Manheim Auto Auction (Dealers only) on a beautiful sunny Friday in South Florida, enjoying the outside weather, eating hamburgers, hotdogs, and junk food all day, then, buying a running Mercedes for only $600, and reselling it a week later for $2,600! Note: That’s more than a 400% return on my investment in just one week!
These kinds of deals don’t happen everyday. But when they do, they’re a lot of fun. To make a long story short, I drove the car home from the auction, advertised it on Craig’s List, and sold it for full asking price in the first week! This is an example of the “good” in the car business! There’s also stories of cars I’ve bought and sold them at a small loss even after I spent money fixing them. (“The bad”). Because cars are really just a sideline hobby business to me, and they are in no way how I earn my living, I take the good with the bad and hopefully make a little money at the end of the year and get to drive around in cars that I love. Rather than being stuck in the same car, I have the luxury of jumping around and driving all different kinds of cars, while at the same time, worse case scenario, maybe pick up an extra $10-$15,000 a year! And if things go really well, $25-$50,000 a year! I call it “fun money”, that’s all it is.
About The Author
- Robert Louis Annenberg Is a 40 year seasoned property owner, manager, investor, builder/developer and business man who is also an author of five published books to date (Amazon.com) and the chief editor of LifeQuestJournal.com. He can be reached at: Info@RobertAnnenberg.com and (201) 289-2500.
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