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NOTABLE! How to Buy A McLaren for $20K

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MJ DeMarco

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Dropping the glass was the biggest change as it went down from $3500 to $2200 just for that.

Make sure you stay off the 101...
 

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Striver

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Things like tax ( purchase and renewals ), insurance premiums ( I was thinking $250-$350 a month at least ), maintenance ( every 10k-15k miles about $2k on tires, plus other things ).

Jesus. How are you driving that your tires only last that long?! haha

Congrats, Biophase! Great logic.
 

biophase

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Jesus. How are you driving that your tires only last that long?! haha

Congrats, Biophase! Great logic.

Most high performance low profile tires don't last very long on cars like these. The tires are usually softer for more grip and the cars usually have aggressive alignments. This combo makes tires wear down quickly.
 

David 964

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So this thread was started by me in 2011.

NOTABLE! - How to Buy A Ferrari for $20K

Now it's 2018 and the title should probably be changed to How to Buy a Mclaren for $20k.

I have a progress thread on the inside and I'm going to copy and paste excerpts that are relevant to this post.

Posted on July 8, 2018

So, sometime around the February of this year I got the itch again to get an exotic car. I almost pulled the trigger on a McLaren MP4-12C. I literally had my checkbook out at the dealer and we were $3000 apart on price.

I almost wrote a $130,000 check for a car that day and a funny thing happened after I went home though. I called my business broker that sold my business and asked him if he had any business listings asking between $100k-$150k. The next day he sent me 2 businesses that met my criteria. One was asking $150k and profiting $60k, or $5k a month.

Here was my thinking. I was approved for a $130k loan at 3.2% for the car. My monthly payment would have been $2340 a month for 60 months.

So if I purchased a $150k business, it would pay for my car loan AND I'd have $2660/mo cashflow. Granted I'd have to spend an extra $20k than the outright purchase of the car AND I'd have to run another business. But looking at the numbers it makes no sense to pay cash for that car.

Given my track record, I believe that I can make this business work for 3 years even though it was very Amazon dominated in sales. I figured worse case scenario is the business peters out and I sell it to someone else in 3 years for $50k after I've paid off my car loan.

But I decided not to go that route.

What I did was start yet another business. My new business launched in February and is steadily growing. This niche is not allowed on Amazon so it is a 100% your own URL ecommerce business. Sales are growing and May was its best month so far, June was a little crappy because I ran out of stock in the middle of the month.

I have since purchased alot more inventory and hope to see a good July. Profit in May was about $2800, and June dropped to $2000. But I'm really close to making that Mclaren payment already. Another couple months of steady plus $2500 profits and I've told myself I'm getting that car in October.

August 4, 2018 (I flip flopped on my car choice)

I'm going to call this the 458 business because that's my goal for this one. It did about $2500/mo profit, but I had to shell out about $800 in lab tests this month.

September 21, 2018

This one did $2300 last month. It's trending sideways. Again, no advertising costs at all. Just social media posts.

November 21, 2018

So I am changing its name from the 458 business officially to the MP4-12C business because I finally pulled the trigger and a McLaren is heading to my house as I type this. This business has been hovering up and down between $7-$10k a month gross and profiting between $2-$3k. I was hoping that it would grow faster, but at this point it's not too bad.

December 3, 2018

So I sort of cheated on this goal. I got my Mclaren today and yesterday I calculated that my business #2 only made about $20,000 this year (since Feb). So that's $2,000/mo and I really needed $2,275 to make the payment. So I'm $275 short, but who cares. I wanted the car for the Arizona winter. :)

It's parked in my warehouse because I have no garage room due to the home remodel.

TODAY

So looking back at this progress thread, in March I almost bought a Mclaren for $130k. Instead I decided to start a business that would pay for its payments. This business was in the works since January, so I don't want people thinking that it launched in a single month. My first inventory order for this business was just around $20,000. Since then it has sustained itself without any more capital infusion.

To date, it has made an average of $2000/mo. A car loan for my Mclaren would have been $2275/mo. So I'm coming out of pocket $275/mo for the Mclaren. But in essence, you could say that I bought a Mclaren for $20,000 so to speak.

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Great thread Biophase, inspirational with facts and down to earth. Thanks for good post. And BTW good choice with McLaren. You probably did plenty reviews but, if you haven't see this one with Chris Harris
View: https://www.youtube.com/watch?v=v2JVR0mAzjQ
or donut media check them out, they are but fun and educational :)
View: https://www.youtube.com/watch?v=nvJHZ6x31hk
 

biophase

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Just a quick update, the business I started to pay for the Mclaren made about $9k in its first 2 months on 2019. So it’s easily covering the payments now.

So if we extrapolate this out assuming nothing changes, the business is on track to do $54k in 2019. If this happens I could list the business for 2.5x and sell it for $140k.

So you can see the huge upside in starting a biz vs. just writing a check.

Let’s say everything goes perfect and in Dec 2020 I sell and pocket $140k plus the $54k I made in 2019. That’s $194k in 2 years, or $64k + Mclaren.
 
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MoneyDoc

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Yes, fixed, thanks!
Hey Kenric, is that a reasonable multiplier for amazon based eCommerce businesses? Currently projected to do $150-180k/year in profits with only 2 products. Trying to get this brand to 4-5 products doing $300-$500k/year in profits before I think about selling it. Obviously I'll be expanding off of amazon as my brand grows. But, it would be good to know the multiplier ahead of time to plan things.
 

biophase

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Hey Kenric, is that a reasonable multiplier for amazon based eCommerce businesses? Currently projected to do $150-180k/year in profits with only 2 products. Trying to get this brand to 4-5 products doing $300-$500k/year in profits before I think about selling it. Obviously I'll be expanding off of amazon as my brand grows. But, it would be good to know the multiplier ahead of time to plan things.

Yes that’s reasonable. If you do $500k profits you would be asking for more like 3x-4x.
 

biophase

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Yeah it was way higher than I thought. It was the glass policy. Just to have no deductible glass was $1300/yr. I may get rid of that. I have a $2000 deductible. A windshield replacement is $3000. I think I'm going to drop it down to $1000 deductible and remove the glass, that should bring me down to around $3000/yr.

Today I switched over to Allstate from GEICO. When the agent asked why, I told him that I got a much lower rate. So he pulled up the Mclaren no deductible glass and quoted my $800/yr. I told him that it was $1300/yr 6 months ago. He said that rates may have changed and that he had access to better rate packages since he was in the retention division. So WTF? can we negotiate insurance quotes with GEICO? It sure seems like it.

My insurance went from $3500/yr no glass on Mclaren to $2700/yr with Allstate, with no deductible glass and lower all around deductible.
 

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Instead I decided to start a business that would pay for its payments.
This reminds me of when I was younger and made and sold body scrubs and soap to pay for some classes in college. Now that I'm back in college to finish my bachelor's it seems like I'm paying roughly $2,000 per quarter when going full-time. This kind of motivates me to start a business that's for paying off my college. Sort of how you used this business to pay off your car payments. :)
 

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FBA-N-SEO

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Congrats. IMO it's one of the best looking mclarens. I love the f1(out of EVERYBODYS price range) and the new 720s -- but it's a lot better looking than the rest of their cars.

Cheers!
 

biophase

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Here's an update on this thread. The business that I started in 2018 is doing pretty well. In 2019 it made a profit of about $85,000. Right now the business is doing about $10k profit a month. I'd estimate that total profit since its inception is around $160k easily paying off the Mclaren.

Now I'm on the hunt for a new car. That's the crazy thing. This business can pay for a $100kish exotic car about once every 1.5 years. This was much better use of my money than just buying a Mclaren cash 2 years ago.

Now I have my eyes set on a Ferrari California like this one.

567087eb3d2f320f8b67f01ea5f3b4f8.jpg
 

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Congrats!! I envy you because that is also another one of my dream cars as well.
 

PoGOOD

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Here's an update on this thread. The business that I started in 2018 is doing pretty well. In 2019 it made a profit of about $85,000. Right now the business is doing about $10k profit a month. I'd estimate that total profit since its inception is around $160k easily paying off the Mclaren.

Now I'm on the hunt for a new car. That's the crazy thing. This business can pay for a $100kish exotic car about once every 1.5 years. This was much better use of my money than just buying a Mclaren cash 2 years ago.

Now I have my eyes set on a Ferrari California like this one.

View attachment 34091
I don't care for the supercars, but love the execution and solid thinking behind. Great inspiration. Thanks for the story and the updates @biophase !
 

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I saw a California a few days ago at a dealer in red on beige..hmm one of my dream cars.

Did ya get it?
 

biophase

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I saw a California a few days ago at a dealer in red on beige..hmm one of my dream cars.

Did ya get it?

No, things have changed. Like MJ, I’ve really liked Sedona for a long long time and have been looking for a vacation home there.

I just pulled the trigger last week on one. It’s not a done deal yet, but if all goes fine with the inspection I’ll need to pony up seven figures to pay for it.

The Mclaren was actually in the shop for 2 weeks. My battery went dead over the summer and when I charged it back up a lot of the computer modules were dead. So I did the annual maintenance $4500, fixed the modules $2100 and my tire pressure monitoring valve batteries were dead $1100, for a nice total of $7700. As soon as it was all fixed I put it up for sale.

The Sedona home is really nice and I’ll be renting it out using a vacation rental management company. I didn’t buy the house as an investment but the numbers are looking like I’ll be getting nice return on my money, ironically maybe enough to make payments on a new Mclaren!
 

BarKogan$

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So this thread was started by me in 2011.

NOTABLE! - How to Buy A Ferrari for $20K

Now it's 2018 and the title should probably be changed to How to Buy a Mclaren for $20k.

I have a progress thread on the inside and I'm going to copy and paste excerpts that are relevant to this post.

Posted on July 8, 2018

So, sometime around the February of this year I got the itch again to get an exotic car. I almost pulled the trigger on a McLaren MP4-12C. I literally had my checkbook out at the dealer and we were $3000 apart on price.

I almost wrote a $130,000 check for a car that day and a funny thing happened after I went home though. I called my business broker that sold my business and asked him if he had any business listings asking between $100k-$150k. The next day he sent me 2 businesses that met my criteria. One was asking $150k and profiting $60k, or $5k a month.

Here was my thinking. I was approved for a $130k loan at 3.2% for the car. My monthly payment would have been $2340 a month for 60 months.

So if I purchased a $150k business, it would pay for my car loan AND I'd have $2660/mo cashflow. Granted I'd have to spend an extra $20k than the outright purchase of the car AND I'd have to run another business. But looking at the numbers it makes no sense to pay cash for that car.

Given my track record, I believe that I can make this business work for 3 years even though it was very Amazon dominated in sales. I figured worse case scenario is the business peters out and I sell it to someone else in 3 years for $50k after I've paid off my car loan.

But I decided not to go that route.

What I did was start yet another business. My new business launched in February and is steadily growing. This niche is not allowed on Amazon so it is a 100% your own URL ecommerce business. Sales are growing and May was its best month so far, June was a little crappy because I ran out of stock in the middle of the month.

I have since purchased alot more inventory and hope to see a good July. Profit in May was about $2800, and June dropped to $2000. But I'm really close to making that Mclaren payment already. Another couple months of steady plus $2500 profits and I've told myself I'm getting that car in October.

August 4, 2018 (I flip flopped on my car choice)

I'm going to call this the 458 business because that's my goal for this one. It did about $2500/mo profit, but I had to shell out about $800 in lab tests this month.

September 21, 2018

This one did $2300 last month. It's trending sideways. Again, no advertising costs at all. Just social media posts.

November 21, 2018

So I am changing its name from the 458 business officially to the MP4-12C business because I finally pulled the trigger and a McLaren is heading to my house as I type this. This business has been hovering up and down between $7-$10k a month gross and profiting between $2-$3k. I was hoping that it would grow faster, but at this point it's not too bad.

December 3, 2018

So I sort of cheated on this goal. I got my Mclaren today and yesterday I calculated that my business #2 only made about $20,000 this year (since Feb). So that's $2,000/mo and I really needed $2,275 to make the payment. So I'm $275 short, but who cares. I wanted the car for the Arizona winter. :)

It's parked in my warehouse because I have no garage room due to the home remodel.

TODAY

So looking back at this progress thread, in March I almost bought a Mclaren for $130k. Instead I decided to start a business that would pay for its payments. This business was in the works since January, so I don't want people thinking that it launched in a single month. My first inventory order for this business was just around $20,000. Since then it has sustained itself without any more capital infusion.

To date, it has made an average of $2000/mo. A car loan for my Mclaren would have been $2275/mo. So I'm coming out of pocket $275/mo for the Mclaren. But in essence, you could say that I bought a Mclaren for $20,000 so to speak.

View attachment 22766
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Love the way you think!
 

Raja

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@biophase you sir have changed the way I think.

and I thought paying cash for a supercar was cool!

Suryapratap
 

sfarieri

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So this thread was started by me in 2011.

NOTABLE! - How to Buy A Ferrari for $20K

Now it's 2018 and the title should probably be changed to How to Buy a Mclaren for $20k.

I have a progress thread on the inside and I'm going to copy and paste excerpts that are relevant to this post.

Posted on July 8, 2018

So, sometime around the February of this year I got the itch again to get an exotic car. I almost pulled the trigger on a McLaren MP4-12C. I literally had my checkbook out at the dealer and we were $3000 apart on price.

I almost wrote a $130,000 check for a car that day and a funny thing happened after I went home though. I called my business broker that sold my business and asked him if he had any business listings asking between $100k-$150k. The next day he sent me 2 businesses that met my criteria. One was asking $150k and profiting $60k, or $5k a month.

Here was my thinking. I was approved for a $130k loan at 3.2% for the car. My monthly payment would have been $2340 a month for 60 months.

So if I purchased a $150k business, it would pay for my car loan AND I'd have $2660/mo cashflow. Granted I'd have to spend an extra $20k than the outright purchase of the car AND I'd have to run another business. But looking at the numbers it makes no sense to pay cash for that car.

Given my track record, I believe that I can make this business work for 3 years even though it was very Amazon dominated in sales. I figured worse case scenario is the business peters out and I sell it to someone else in 3 years for $50k after I've paid off my car loan.

But I decided not to go that route.

What I did was start yet another business. My new business launched in February and is steadily growing. This niche is not allowed on Amazon so it is a 100% your own URL ecommerce business. Sales are growing and May was its best month so far, June was a little crappy because I ran out of stock in the middle of the month.

I have since purchased alot more inventory and hope to see a good July. Profit in May was about $2800, and June dropped to $2000. But I'm really close to making that Mclaren payment already. Another couple months of steady plus $2500 profits and I've told myself I'm getting that car in October.

August 4, 2018 (I flip flopped on my car choice)

I'm going to call this the 458 business because that's my goal for this one. It did about $2500/mo profit, but I had to shell out about $800 in lab tests this month.

September 21, 2018

This one did $2300 last month. It's trending sideways. Again, no advertising costs at all. Just social media posts.

November 21, 2018

So I am changing its name from the 458 business officially to the MP4-12C business because I finally pulled the trigger and a McLaren is heading to my house as I type this. This business has been hovering up and down between $7-$10k a month gross and profiting between $2-$3k. I was hoping that it would grow faster, but at this point it's not too bad.

December 3, 2018

So I sort of cheated on this goal. I got my Mclaren today and yesterday I calculated that my business #2 only made about $20,000 this year (since Feb). So that's $2,000/mo and I really needed $2,275 to make the payment. So I'm $275 short, but who cares. I wanted the car for the Arizona winter. :)

It's parked in my warehouse because I have no garage room due to the home remodel.

TODAY

So looking back at this progress thread, in March I almost bought a Mclaren for $130k. Instead I decided to start a business that would pay for its payments. This business was in the works since January, so I don't want people thinking that it launched in a single month. My first inventory order for this business was just around $20,000. Since then it has sustained itself without any more capital infusion.

To date, it has made an average of $2000/mo. A car loan for my Mclaren would have been $2275/mo. So I'm coming out of pocket $275/mo for the Mclaren. But in essence, you could say that I bought a Mclaren for $20,000 so to speak.

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That's amazing. Thank you for that insight and perspective.
 

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Sethamus

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The Mclaren was actually in the shop for 2 weeks. My battery went dead over the summer and when I charged it back up a lot of the computer modules were dead. So I did the annual maintenance $4500, fixed the modules $2100 and my tire pressure monitoring valve batteries were dead $1100, for a nice total of $7700. As soon as it was all fixed I put it up for sale.
Sounds like a problem a smart charger could have prevented for a few hundred. Do you completely shut down the power to the house or something when gone?
 

biophase

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Sounds like a problem a smart charger could have prevented for a few hundred. Do you completely shut down the power to the house or something when gone?
I had a charger hooked up to the car, but the cig port it attaches to is very finicky. I know it was on when I left, but it lost its connection somehow. I think I need a new one because was I replugged it back in it was clicking (It's a Mclaren brand). I used my brother's Mercedes charger and it charged right up.
 

biophase

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Hey @biophase, question for you, are you not putting money down for the cars?

No, when I get a loan it's usually 100%. I don't understand why you would you put any money down when getting a loan. It's either borrow it all at a good rate or pay cash.
 

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@biophase it looks like you don't accept messages, but any more thoughts on finding these sites for sale? Also, it seems like a bad move taking all your profits and using them to buy an exotic car. Do you invest any of that money in stocks, bonds, real estate?

You said you would only do one site at a time. So how do you plan to scale beyond the $9k per month? Or are you happy where things are at?

Overall, awesome thread. Exactly how any businessman should think... Just needs more meat to the technical side of it.
 

MoneyDoc

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No, when I get a loan it's usually 100%. I don't understand why you would you put any money down when getting a loan. It's either borrow it all at a good rate or pay cash.
That's why I was asking.

I never put money down for a car, especially a lease...

The problem I face in Canada, is that most Ferrari's, Lambos, etc. require some money down. Seems like banks don't want to give out $300k CAD without any money down...

So I always get dealers telling me I "must" put money down. Saw a Ferrari 488 the other day at a Ferrari dealership and the sales guy told me you gotta put 20-30% down for the banks to consider the loan...

Edit: saw a beautiful 2018 Huracan Performante Spyder for sale the other day at my McLaren dealer (they have a division for high end exotics as well). $348k CAD, 10k KMs, 96 month finance at 6.49%... 84 months for 4.99%. So tempted lol... but it is reconditioned. Did get safetied though.
 

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@biophase it looks like you don't accept messages, but any more thoughts on finding these sites for sale? Also, it seems like a bad move taking all your profits and using them to buy an exotic car. Do you invest any of that money in stocks, bonds, real estate?

You said you would only do one site at a time. So how do you plan to scale beyond the $9k per month? Or are you happy where things are at?

Overall, awesome thread. Exactly how any businessman should think... Just needs more meat to the technical side of it.

You can find businesses for sale on sites like flippa, empire flippers, or any business brokerage website.

I have other investments. I would never recommend you take profits to fund a car if these profits are your sole means of living. In my example, I could have wrote a check for the car, but decided not to. So it really meant that I had $130k in the bank, but I only took $20k of it to start a new business, so I had $90k left over. If I only had $20k, I would never start a business and then instantly use all of its proceeds to buy a toy. This was just play money, or money I had set aside to purchase a toy already.

But also realize that my payment was only $2200 and now the business is at $9000, so there is plenty left over to live if I needed the money from this business. This is where the forward thinking pays off. I could have the business pay for 3 Mclarens right now. But instead I'm selling it to move into another investment, which will probably pay for another Mclaren in 3 years. It's all about doing the math and assessing risk and making the investment.

I'm trying to get this business to around $25k a month. I think I'd be happy with it there. I have plans to expand it, which I'm doing right now. I'm just adding more products right now.
 

biophase

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That's why I was asking.

I never put money down for a car, especially a lease...

The problem I face in Canada, is that most Ferrari's, Lambos, etc. require some money down. Seems like banks don't want to give out $300k CAD without any money down...

So I always get dealers telling me I "must" put money down. Saw a Ferrari 488 the other day at a Ferrari dealership and the sales guy told me you gotta put 20-30% down for the banks to consider the loan...

Edit: saw a beautiful 2018 Huracan Performante Spyder for sale the other day at my McLaren dealer (they have a division for high end exotics as well). $348k CAD, 10k KMs, 96 month finance at 6.49%... 84 months for 4.99%. So tempted lol... but it is reconditioned. Did get safetied though.
I use a 3rd party to loan me the money. Right now, I go to lightstream but they only loan up to $100,000, so you'd need to get the rest of the money somewhere else. My cars have only been around $80k to barely over $100k, so I guess I am putting a tiny bit down. Makes no sense to get another loan for $10k.

At 6.5%, I'd probably pay cash. 4.9% it's a toss up. Also, I get 60 month loans usually. High payments, but I like paying things off quickly.
 

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Phoenix AZ
@biophase it looks like you don't accept messages, but any more thoughts on finding these sites for sale? Also, it seems like a bad move taking all your profits and using them to buy an exotic car. Do you invest any of that money in stocks, bonds, real estate?

You said you would only do one site at a time. So how do you plan to scale beyond the $9k per month? Or are you happy where things are at?

Overall, awesome thread. Exactly how any businessman should think... Just needs more meat to the technical side of it.
Have you not read any of his posts?

Duuude, bro, go read some biophase posts.

Seriously, everybody, if you haven't yet, go read some biophase posts.

The dude has a top 5 reaction score for a reason.

The guy has a business broker on his speed dial, and you're all "maybe you should diversify your portfolio..."

??

I'm sure you're heart is in the right place Chosen, but maybe read between the lines?

Or better yet, go read some biophase posts.

Everybody, please be nice to the few veterans that still post on here. Dude's busy. If this one didn't give you enough meat, (seriously?) if you are still hungry for knowledge, the forum is full of it. Especially this guy's stuff.

Are you still reading my rant? Stop. Go read his classy quality stuff.

I don't know if I have the patience to accumulate 33k reaction score... God bless you dude.
 

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