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NOTABLE! How to Buy A Ferrari for $20K

ChrisRempel

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Hey guys, just on the iphone atm, so sorry about brevity...

@biophase - true. If you know the game, it makes lots of sense. My recommendation to you would be to focus on buying a portfolio within an overall vertical, rather than just whatever. That way you'll get a far better handle on offers that convert, optimization, etc which you can then apply to your whole network. Equals exponential rev gains.

@andviv - big question that requires a big answer.

The simplest answer is that it depends on 2 things: Market, and Offer. Not even traffic or the apparent "criteria" that exists in the keyword/marketing world.

When you find that working combination, its seriously just a matter of building a halfway respectable site, crafting your content around serious commercially-intent keyword themes, and focusing all of your touchpoints on selling a proven offer.

Then you build links, test ads, build more links, etc. Google takes a while to respond. Just keep going and keep the momentum. The traffic will come.

Thats how I do it.

And it works. But again, success is 99% determined by market and offer. Not traffic.

Cheers

Chris
 

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ChrisRempel

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What markets and offers, you ask?

Well, thats where flippa comes in real handy :)

Chris

PS You can usually sell your site for alot more (if its established and esp if you have a customer base) by approaching the big dogs in your market, as opposed to an auction site like flippa or ebay. They stand to make the most money from your traffic/customers anyway. Worked fer me :)
 

DaveM

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Hi, my name is Dave. I am a junior in college. I’ve actually been coming to this forum for years, I don’t know how many lol; I have the book and everything, but I don’t post, I just learn. Anyway, while reading the thread I became intrigued about the idea of buying small internet companies, maintaining them and/or improving them as some of you do. I have a friend who wants to partner with me and we’ve outlined some ideas. I just wanted to get some more information about the process, especially finding businesses to purchase (preferably for 1x or 1.5x revenue as was discussed). I am comfortable cold calling, I have experience doing so. What lists should I use to call? Where can I find them (lists)? What are some steps I should be familiar with while embarking on this journey, and what are some obstacles that people overlook? My partner and I are very serious about pursuing this. If the more experienced guys like biophase, zen******* and Fivestar could be of some assistance and don’t mind helping us that would be fantastic!

Thanks,

Dave
 

Mike39

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Hi, my name is Dave. I am a junior in college. I’ve actually been coming to this forum for years, I don’t know how many lol; I have the book and everything, but I don’t post, I just learn. Anyway, while reading the thread I became intrigued about the idea of buying small internet companies, maintaining them and/or improving them as some of you do. I have a friend who wants to partner with me and we’ve outlined some ideas. I just wanted to get some more information about the process, especially finding businesses to purchase (preferably for 1x or 1.5x revenue as was discussed). I am comfortable cold calling, I have experience doing so. What lists should I use to call? Where can I find them (lists)? What are some steps I should be familiar with while embarking on this journey, and what are some obstacles that people overlook? My partner and I are very serious about pursuing this. If the more experienced guys like biophase, zen******* and Fivestar could be of some assistance and don’t mind helping us that would be fantastic!

Thanks,

Dave
Very..... "bold" of you :smilielol:

Welcome to the forum Dave!
 

DaveM

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Very..... "bold" of you :smilielol:

Welcome to the forum Dave!
lol Thanks man, hopefully somebody cares to answer my questions. I'm def. gonna start posting around here now. This is one of the best forums on all of the net.
 

AllenCrawley

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BTW, anyone remotely interested in ecommerce should listen to this interview. He clearly states why he thinks ecommerce values are at such low multiples compared to other businesses. Listen to it completely if you have a store, alot of good actionable information.

Bootstrapped To $1 Mil In 1 Year By Selling Tires?! – with Lou Doctor
My wife and I are in the early stages of developing an ecommerce site so thanks for posting this. It's not free to view this interview anymore as mixergy as monetized the site using a paid membership model. I actually paid for a membership and watched this video. Very insightful with tons of great information.
 

snowbank

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the gist of it was that I was going to pay $20k for 25% of a store that made $8k a month. I was going to take the $2000 a month and get that Ferrari.
As a few people know, I was the partner in this deal. I just released an in depth break down of the deal, and more:

How to Buy a Ferrari for $20k
 

wade1mil

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As a few people know, I was the partner in this deal. I just released an in depth break down of the deal, and more:

How to Buy a Ferrari for $20k
Oh snap. Your blog is going to be epic!
 

The-J

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You know, I want a Ferrari.

When I get enough in cash, I think I'll try something like this. It shouldn't take me TOO long to save up 20k. It certainly won't take me years. If I could find a relatively passive asset (thinking something like 4 hours a week to run) for that much that nets a nice monthly income, I could do this exact thing.

I'd be the most badass college student ever.
 

jaywolf

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Make sure your asset will cover the ridiculous car insurance price that you will be charged from any insurance companies that are willing to provide coverage to a teenager/young twentysomething that is driving a ferrari lol :)
 

snowbank

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When I get enough in cash, I think I'll try something like this.
If all you had was $20k, or even $40K, you shouldn't be doing this. Especially being 19, you should be scaling your money up.

Two totally different scenarios between someone who's 19 trying to make their first money, as opposed to someone who already knows how to make money, and has other assets producing income.
 

2KidsinUT

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Make sure your asset will cover the ridiculous car insurance price that you will be charged from any insurance companies that are willing to provide coverage to a teenager/young twentysomething that is driving a ferrari lol
Just self-insure.
 

wade1mil

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Make your own insurance company
Really? Biophase I know in California you can make a $35k cash deposit or get a self-insurance certificate as an alternative to insurance, but you would be liable for all damages. They may have something like this in your state. Here is the link in case your questions wasn't facetious

Insurance Requirements for Vehicle Registration (Under Types of financial responsibility)
 

NaPal

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Awesome thread guys! All of these e-commerce threads / passive income threads have really opened my mind. I feel as if there are so many different ways to make $$$, and most people will not discover these or take action because they're fearful of taking a slight risk.

It's very inspiring to see seasoned veterans on here buying Ferrari's and such with their success.

I'm 24, happily married, just bought a house, have my first son on the way; and am going to start making my Wordpress site tomorrow for the beginnings of my e-commerce site. I'm an IT guy so i'm thinking of servicing pc's, laptops, servers, and networks to instantly increase income; and also provide an online store for PC's, parts, supplies, and anything slightly related. Any thoughts on my plan?? Seem effective?

Snowbank or anyone, what should my steps be for making my "first money" at 24? Any guidance, tips, and thoughts would be greatly appreciated!
 

snowbank

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going to start making my Wordpress site tomorrow for the beginnings of my e-commerce site. I'm an IT guy so i'm thinking of servicing pc's, laptops, servers, and networks to instantly increase income; and also provide an online store for PC's, parts, supplies, and anything slightly related. Any thoughts on my plan?? Seem effective?

Snowbank or anyone, what should my steps be for making my "first money" at 24? Any guidance, tips, and thoughts would be greatly appreciated!
Are you going to dominate that space, and fill a huge gap in the market? From the way you're explaining it, it doesn't sound like that's on your mind at all.

biophase kills it in e-commerce because he is a leader in the space. he is dominating the markets he's in.

i've been successful with bluefirep0ker because we offer the highest quality p0ker education in the world. i didn't just put some random p0ker videos onto a website.

mj crushed it in the limo market because he filled a need that wasn't being filled

mj filled a need with the fastlane forum because most entrepreneur/make money forums suck, and here there are a handful of successful posters who are willing to share some knowledge.

i launched foreverjobless because there was a need in the 'make money' blog space. the fact that none of the 'make money' bloggers know how to make money - that's a pretty glaring hole in the market.

that's why it's not an accident when biophase makes a bunch of money on his e-commerce stuff, because he is #1 in the market he's in. he's got better product, better support, more variety, etc...

here on the forum you can get answers from millionaires- that's why people keep coming back here. other forums the most valuable poster is a guy who makes $3k/month selling ebooks to newbies. so again, it's no surprise that people wanting to make money prefer here, over there.

foreverjobless will grow extremely fast because of the content, not because of WHAT I'm doing. It will grow extremely fast because of why and how I'm doing it. It won't grow extremely fast because it's a blog. A blog is just what it happens to be.

So, for whatever business you want to go into, it's really irrelevant WHAT it is.

I like basketball, but that doesn't mean I'm going to launch a basketball store on a wordpress site. That sounds like the equivalent of what you're trying to do right now.

Best thing to do at 24- get knowledge. Lots of it. Find 2-3 guys here who are doing what you want to do/achieving what you want to achieve, and find every word they've ever written. Then, you'll have the knowledge base to ask them questions. ONLY then, should you ask them questions. Don't go about it in a lazy way like most people and ask them to repeat everything they've already said and do your due diligence for you, instead of just putting that work in yourself.

This is not a long process, and can be done in a much quicker timeframe than people think. You just have to do it.

Then, you can start attempting to implement what you've learned.

Then, repeat.

Go do work for really smart people for free. Chances are, from being around them you'll learn a lot. If you're around smart/successful people all the time, it's nearly impossible to not figure out how to be more like them. Add value to their lives, and they'll give you tons of free knowledge. You can then scale that knowledge into however much money you want to make.

If you do all this, it becomes pretty easy.

Good luck.
 
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biophase

biophase

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Make your own insurance company :thumbsup:

Is it also a legal requirement to have car insurance in the US?
Craig,

I don't understand why you would ever do that. Yes, you can self-insure for a decent chunk of money. Someone driving a Ferrari should not be affected financially if they totaled their car and did not have insurance to fix the car itself. However, they could be hugely affected by medical bills, liability and property damage costs way beyond their means.

If you bitch or worry about the insurance that your car is going to cost you, you probably shouldn't be buying that car.

If you can self-insure the car (for its value) you are buying, you probably have a good chunk of net worth that you cannot self insure yourself or should not insure yourself.
 

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craig1928

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I was joking to be honest, I don't even know of any of this self-insure stuff yous speak of, over here it's a legal requirement to have car insurance with a company registered with the financial regulator.
 

NaPal

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Are you going to dominate that space, and fill a huge gap in the market? From the way you're explaining it, it doesn't sound like that's on your mind at all.

biophase kills it in e-commerce because he is a leader in the space. he is dominating the markets he's in.

i've been successful with bluefirep0ker because we offer the highest quality p0ker education in the world. i didn't just put some random p0ker videos onto a website.

mj crushed it in the limo market because he filled a need that wasn't being filled

mj filled a need with the fastlane forum because most entrepreneur/make money forums suck, and here there are a handful of successful posters who are willing to share some knowledge.

i launched foreverjobless because there was a need in the 'make money' blog space. the fact that none of the 'make money' bloggers know how to make money - that's a pretty glaring hole in the market.

that's why it's not an accident when biophase makes a bunch of money on his e-commerce stuff, because he is #1 in the market he's in. he's got better product, better support, more variety, etc...

here on the forum you can get answers from millionaires- that's why people keep coming back here. other forums the most valuable poster is a guy who makes $3k/month selling ebooks to newbies. so again, it's no surprise that people wanting to make money prefer here, over there.

foreverjobless will grow extremely fast because of the content, not because of WHAT I'm doing. It will grow extremely fast because of why and how I'm doing it. It won't grow extremely fast because it's a blog. A blog is just what it happens to be.

So, for whatever business you want to go into, it's really irrelevant WHAT it is.

I like basketball, but that doesn't mean I'm going to launch a basketball store on a wordpress site. That sounds like the equivalent of what you're trying to do right now.

Best thing to do at 24- get knowledge. Lots of it. Find 2-3 guys here who are doing what you want to do/achieving what you want to achieve, and find every word they've ever written. Then, you'll have the knowledge base to ask them questions. ONLY then, should you ask them questions. Don't go about it in a lazy way like most people and ask them to repeat everything they've already said and do your due diligence for you, instead of just putting that work in yourself.

This is not a long process, and can be done in a much quicker timeframe than people think. You just have to do it.

Then, you can start attempting to implement what you've learned.

Then, repeat.

Go do work for really smart people for free. Chances are, from being around them you'll learn a lot. If you're around smart/successful people all the time, it's nearly impossible to not figure out how to be more like them. Add value to their lives, and they'll give you tons of free knowledge. You can then scale that knowledge into however much money you want to make.

If you do all this, it becomes pretty easy.

Good luck.
Thank you for the response. guidance, and advice!

I find myself always trying to discover and find needs in the marketplace that are not being fulfilled. I think i've just gotten carried away with all the e-commerce information i'm reading.

So biophase has a successful ecommerce site because he is a leader in the space and is dominating the market; but didn't he have to first enter the market and build his way to the top against his competitors?

I am not at all trying to enter a market based on my passions, rather a field I am knowledgeable about. I've found a few computer products that are sought after, however they are not available in the US. If I could bring them to the US, their would be zero competition. This is why I was thinking an ecommerce model.

I will always continue to research, learn, and educate myself on these topics. However I would like to get the ball rolling and start learning by doing, and if a failure sha'll occur than so be it. It will teach me what to do differently next time.
 

snowbank

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Thank you for the response. guidance, and advice!
Glad to help

So biophase has a successful ecommerce site because he is a leader in the space and is dominating the market; but didn't he have to first enter the market and build his way to the top against his competitors?
You don't have to be 1st to a market. Being first helps a lot and is a great advantage, but not necessary. I was like 30th to the market for the p0ker site, and I'll be like 10,000th to the market in the 'make money' blogging space, but it doesn't matter because I did/will fill needs that aren't being met.
 

2KidsinUT

Contributor
Aug 2, 2012
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Utah
I don't understand why you would ever do that. Yes, you can self-insure for a decent chunk of money. Someone driving a Ferrari should not be affected financially if they totaled their car and did not have insurance to fix the car itself. However, they could be hugely affected by medical bills, liability and property damage costs way beyond their means.
I don't know about all states in the US, but in many you can purchase a bond for self-insurance purposes. The difference is how smart your money is spent. Insuring a Ferrari probably comes with steep premiums. As far as liability goes, your average auto insurance policy only covers your a$$ for about $35K. You could still be hugely affected by liability beyond your means.
 

2KidsinUT

Contributor
Aug 2, 2012
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Utah
I don't think you would cover a Ferrari with an "average" auto insurance policy
Yes, but then liability is only part of a full auto insurance policy, which is the part I'm referring to. The point is no matter what you drive, a single accident could make you liable far beyond what your auto insurance covers... even wipe you out financially. Your insurance company is only going to cover your a$$ up to the liability limits on your policy. If you have an umbrella policy, maybe you'll have a little more coverage. But after that, you could be tapping into your own money... all of it.
 

wade1mil

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I've sold a personal auto insurance policy with 500k/1m limits.
 

BillP

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Yes, all I do is run online stores. I can definitely keep it at its current level, but I am sure I can improve it also. I would hire someone to run the day to day and I would work on growing it. It's not really difficult to keep a store running smooth, but you have to put time into it.

How funny. Was just reading this thread and noticed your avatar (car). And thought.. man that is just like (real name deleted)'s Ferrari.

Then I saw your signature links and was like - hey that is you.

Bill:icon_super:
 

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