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✏️ Automotive Investment Principles
Its amazing how investing in the stock market is similar to investing in used cars. I am fascinated with Warren Buffett. I read everything I can get my hands on about him. He is the master stock market investor.
Warren’s wisdom about stock investing can be directly related to trading cars for a living. Lets explore four beliefs he has about investing and how they apply to the car business.
1. Circle of Competence
Its important to know what you know and more importantly what you don’t know. Invest in the things you know and ignore the rest.
I get asked, quite often, “George, what kind of cars should I buy?”. My basic response for beginners is to buy what you know. If you have driven honda’s your whole life, thats probably a good place to start. You know how they ride, what noises to listen for, what the common problems are, …. MUCH better than a guy who has only driven Subarus. Right?
My second suggestion is to always try to expand your circle of competence.
2. Margin of Safety
Always buy with a margin of safety. Never pay too much. Your rate of return on your investment will be determined by the price you pay. Never pay too much because there are always things you don’t know about the car. SO use that margin of safety to work in your favor.
If the car is worth $5,000, don’t pay $5500 just to own it. You see it is totally possible you don’t know everything about the car. In fact, I bet you don’t know everything about the car. There is an associated risk with buying any car or truck. There might be unknown repairs that need to be made once you get it to your mechanic. If you bought the car with a margin of safety, say $4500, you have $500 you can use for the unexpected repairs. OR, maybe, it will take longer to sell the car than you imagined and you will need that margin of safety for more advertising.
Remember: Buy with a margin of safety.
3. Mr Market
Mr Market is your paranoid schizophrenic partner in the car business (or more directly he might be your wholesaler, your local auction, or just the marketplace in general – in Warren’s case, its the stock market).
Everyday Mr Market, with no thought or reason, makes available cars that can be bought at various prices. You can either take Mr Market up on his offering price for the car or you can say no & wait for a better deal.
Be mindful that you can always ignore Mr Market and wait for the next car for a better deal!
Your ultimate power and most critical decision is where to allocate your resources. Your main resource is your time and money. If you buy a car for too much money or one that requires too much work – it drains your resources. Be wise where you allocate your resources.
You are using some resources to buy my study course. Mainly money but also time to learn a new skill – how to buy cars for profit. Its an investment into your knowledge. Its an investment that should yield a fair return. As a side note, if you are trainable, you can learn this business!
📺 My Vision For You
☎️ Your Next Step
NOTE FROM GEORGE:
“Howdy, my name is George Dean and I am glad to meet you.
I am passing along these strategies & techniques because I am at a stage of my life in which I want to help others be successful rather than be more successful myself. Because these principles have helped me and others so much, I want to share them with you.
Since I began helping people get into the car business the past three decades, I have received hundreds of emails and phone calls from people telling me how my training has helped them create a brand-new career, afforded them to finally invest for their retirement, saved their health (and, in some cases, literally saved their lives), kept their marriages intact (money tends to do that)… and… in various other ways… improved their lives immensely.
So, maybe, just maybe, it will do the same for you as it has others. I am cheering for you! I want you to be a success.”
To Your Success!
My long term plan is to make this a full-time career. I have been a “car guy” since before I was old enough to drive. This business is a lot of fun and of course profitable. Your guides have explained all the different facets of the business, from brokering to EBAY to wholesaling and everything in between.
Some people may think the cost of your course is expensive. What those people may be overlooking is that this is without a doubt the cheapest investment anyone could be making. I am proof as I have already at least doubled my investment in just over 1 week!!
I sincerely thank you not only for the course materials but also how you make yourself available for consultation.
It was absolutely great 👍 and way it was laid out I enjoyed it very much – actually gave me a good foundation to start in cars – I did some local retail too but ended up focusing on wholesale and export mostly –I made good money in cars.
It gave me the opportunity to go live overseas with my parents and family for 5 years (after 13 years) – instead of being a corporate slave in the IT industry- I was able to buy rental properties in Dubai and London with the money I made from cars thanks to you, which I still hold.
THANKS TO YOU !!! 🙏 🙏 🙏
I am back in the US now and I am setting up a used car dealership/ mechanic shop/collision shop under one roof.