Oct 11 • General discussion
Progress 👍🏻
Good Morning W2R Fam! We recently had 2 deals come through this and they are some of my favorite kind of deals! I will share deal #1 here and then deal #2
Deal #1..... Towards the begining of the summer I found a killer deal on a medium sized lake fishing boat. The boat was loaded with high end fishing electronics and a 4 stroke engine. Just the accessories on the boat were valued at over $5000 plus the fact the boat is nice and has a high end trailer. I drove about 45 mins to pick up the boat, negotiated with the guy and picked up the boat for $1800.
I got back to my house and started organizing the boat and checking everything over getting it ready to list for sale and a repeat customer came buy and offered me $3500 cash on the spot. While this is well under the value of what I could sell the boat for, I would effectively be making $1700 profit (minus title fees and gas) for about 2 hours of driving.
I took the deal and sold the boat. $3500 cash in hand!
Fast forward to last week, this customer wanted to sell the original boat back to us, plus another boat, and pay us for a little clean up at his house (side hustle work 🤘🏼). We struck a deal to buy both of his boats for $3000 and he agreed to pay us $300.
Running the numbers this far. Originally buying boat for -1800 and sold for +3500 = Leaving us with with $1700 profit. We then did some work for the customer giving us $300 putting us at $2000 in profit. We bought the original boat back plus a 2nd boat for -3000 leaving us -1000 into the deal.
The first boat has a serious buyer lined up for $5500, the deal isn't done so lets talk about this hypothetically.... lets say the buyer comes in and offers us a lower price and we sell the boat for $5000 that leaves us with a profit of $4000 (more than double our previous profit).
Then the 2nd boat we got in the deal isn't worth a great deal, but it has a nice little 4 stroke engine worth $1200 used and a trolling motor. I believe we will get around $2000 out of that boat package whether we sell it whole or part it out putting us at $6000.
So to recap. An initial investment of $1700 has grown into $6000, with about 4 hours worth of work in total.
The deals are out there, and so are the people! Like in last weeks live stream, I talked about having cash and being ready, in this case, the guy wanted the boats out of his driveway before winter and we were able to make a deal so he was happy and we make money.
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Progress 👍🏻
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Helping riders wrench smart, score deals, and flip powersports machines the shops won’t touch—because one man’s junk is my jam
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