The funniest thing is that the used car angle could actually work.
Most people do not realize that some of the richest people in the US own Tote the Note lots.
They buy the cars for cash and then recoup most (or all) of the seed money when the car is sold.
Then they finance the rest (pure profit).
With the advent of GPS they can let more ride in the street because the risk factor is far less. The cars are easy to find.
Next time you see a massive used car lot know this — that guy is a multi-millionaire.
Do the math.
1000 cars in the street x $400 per month = $400,000 per month
$4,800,000 per year gross
1000 cars is nothing. Thats just averaging 3 per day.
Most huge large Tote the Note lots have 3000 or more cars on the street at any one time (assuming they have not sold their paper).
Am I suggesting that Patrick should start from the ground up and create a Used Car Empire?
NO.
But I am suggesting he should talk to every owner of every large lot in his area. Those guys are EGO MANICS. Being rich is not good enough. They also want to be more impressive than the other owners — the competing lots up and down the street.
My best friend is a self made millionaire through the Tote the Note industry. I know exactly what I am talking about.
This is an avenue that could really work. These guys are accustomed to abuse and are honestly rich but unsophisticated. If anyone would be willing overlook ACCR's crazy 8's it would be one of these guys.
I would pitch the idea to all of them. All you need is one of them who wants to see their dealer with it's name in lights — having it's own TICKER SYMBOL. Beat that Jimbo!
Nothing to lose by trying.
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