What advice did you follow that everyone thought was stupid?
FULL TRANSCRIPT
What advice did you follow that everyone
thought was stupid? My uncle told me,
"Buy old muscle cars and fix them up for
cheap. There's only so many left and
you'll get more car for your money than
any new ride." When I was 22, I just
landed my first decent job at a tech
startup and got approved for a loan on a
brand new luxury sedan. Everyone my age
was driving German cars, showing off
their success with monthly payments they
could barely afford, but uncle pulled me
aside at a family barbecue. Uncle wasn't
the type to talk much, but he always had
some cool old car project going, so I
figured he knew what he was talking
about. I followed him over to his garage
and watched him point at a beat up
muscle car covered in a tarp. He
explained, "That pile of rust cost me
$2,000 in 1995. Sold it last month for
$140,000. Your fancy new car will be
worth half what you paid the moment you
drive it off the lot. These old beauties
only go up if you know what you're
doing." That conversation stuck with me
for weeks. I kept thinking about what
uncle said while I was looking at all
these shiny new cars at the dealership.
Finally, I called them up and canceled
my loan approval. Instead of putting
money down on a luxury sedan, I started
hunting for old muscle cars I could
actually afford to buy and fix up.
Within 2 months, I bought three rusted
out classics from the late '60s. There
was a Camaro that wouldn't start, a
Corvette with a blown engine, and a
Chevel that looked like it had been
sitting in a field for decades. My
parents were mortified when neighbors
started complaining about the junkyard
in our driveway. My friends thought I'd
lost my mind. Every time we hung out,
they wouldn't shut up about their new
rides. They'd show off their leather
seats and touch screens while roasting
my cars. One friend laughed and said,
"I'd never get any girls driving rust
buckets like that. Only cougars who were
into vintage stuff." Another kept
saying, "I looked like I was collecting
scrap metal, not chicks. They'd brag
about their heated seats and backup
cameras. Then joke that the only feature
my cars had was breaking down. I'll
admit there were moments pulling up next
to their shiny BMWs that I wondered if
uncle was wrong. But then I'd remember
that $140,000 sale and I stayed
determined to prove them all wrong. For
4 years, I spent nights and weekends in
Uncle's garage learning how to fix these
things. I picked up welding, engine
work, paint, whatever I needed to know.
Started hitting up car auctions to see
what stuff was actually worth. My social
life pretty much ended because they all
thought I was too broke to hang out with
them. So, while my friends were posting
pics of their fancy interiors and
complaining about 1,400 monthly
payments, I was covered in grease trying
to get these rust buckets running.
Slowly, I started recognizing patterns
in what collectors wanted. The models I
bought weren't just any old cars. They
were the specific ones that were getting
harder and harder to find in decent
condition. My beatup Camaro had the rare
big block option. The Corvette had the
split rear window. The Chevel had the
original factory papers that most people
had lost or tried to fake over the
years. And just as I predicted, the
market suddenly exploded with people
looking for their dream cars from their
childhood. Auction prices went totally
crazy. Classic car investment funds
started buying up anything decent. The
cars I bought for scrap prices were now
selling for six figures at fancy auction
houses. So, I hopped on the hype and
sold that first Camaro to a private
collector for 30 times what I paid. I
used the money to buy out more vintage
cars, this time by the dozen. 2 years
later, I sold three of those for enough
to buy a small warehouse and start a
proper restoration business. Now, I own
26 classic muscle cars with 12 more in
various stages of restoration. My
friends are still trapped in those
luxury car loans they can't escape with
two of them having cars repossessed
after getting laid off from work.
Meanwhile, I've been getting calls from
collectors willing to pay 10 times the
amount of my friend's BMWs. Turns out
uncle was spot on. There will always be
newer, faster, shinier cars.
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