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Post by dentdaddy on Jun 24, 2012 20:40:37 GMT -5
I went to a car swap meet (Nebraska's Largest) yesterday to try to sell the last of my old 1950's convertible project cars, a 1953 Pontiac Chieftain Convertible. Sad to say the day was a bust. The classic car market has seen a drop of 40-50% in value in the last few years and selling parts on ebay is just as bad. Nobody wants to spend any money in this economy right now........so I am switching my plans to wholesaling newer $3000 to $5000 transportation cars. Right now the used car market is a sellers market - even the dealers are paying up at auctions just to have the inventory. My plan as I perfect my PDR skills is to buy cars needing PDR work such as hail cars, and then reconditioning them and running them back through the dealer auctions. Naturally, I will try to retail them first via craigslist. Wish me luck - I'll be kicking off this business on the 1st of July with a goal of turning 3 cars a month to start. Ultimately my goal will be to then pursue my PDR business after building up some skills and capital. I'll keep some of my fellow Mag 7 members abreast with how this works out. This site has been a wonderful source of not only PDR education, but also an outlet to other ideas and opportunity to network for financial betterment. Thanks again Keith and all my classmates for your dedication and support Attachments:
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Post by streetrod2006 on Jun 24, 2012 21:20:51 GMT -5
sounds like a good plan bob. buy as many hondas as you can they are the ones moving in my area the rest of the dealers are scraping to get by wile the honda guy next to me is always moving cars new and used. the body shop i work for sevices a honda dealer subaru dealer and a chevey dealer. honda dealer is moving 3 cars a week through the shop when the others arn't doing squat
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Post by Keith De Paul - KDP on Jun 27, 2012 6:11:23 GMT -5
Sounds pretty good, Bob. I wish all good things for you!
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Post by Marc (NJ) on Jun 27, 2012 8:50:06 GMT -5
Best of luck with everything Bob. We are all here for you buddy. Keep in touch!
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Post by dentdaddy on Jun 27, 2012 21:07:27 GMT -5
Thanks guys - I'm off to the iaa salvage auction tomorrow morning - a few good hail cars to bid on - hopefully the numbers will work out. Bob
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