Wickedfire Member Buys a Website, then Pays for a Ferrari with it



$tateOfMind said:
How to Buy a Ferrari for $20k | Forever Jobless

Well, almost.

I know Billy, and he is a Wickedfire member.

Should be a great follow for anyone learning about marketing, subscription sites, and E commerce.
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Forever Jobless is my blog.

For all of the people talking about taxes on a car and other things are missing the point I was trying to make- which is probably my fault since I'm new to writing.

The main point I was trying to make was not about a car, but about the ability to acquire deals that seemed to good to be true, but aren't-- these deals are often easier to acquire than mediocre deals because all your potential competition assumes it's a "scam", and with proper due diligence as well as the ability to properly calculate EV, you can confidently go after these deals while other people are worried about other things.

Thanks for the feedback.
 
20figures said:
Shut the fuck up.

I enjoyed it and it makes sense. 20k towards a down payment on a Ferrari gets you nowhere because you still have to come up with the monthly payments. 20k also won't buy a Ferrari on it's own.

However by leveraging an income producing asset you have long term asset that pays for the Ferrari itself. Even after it's paid you still own the asset that is still producing income for you. Brilliant.
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plus the actual value of the car at that point
 
Seems like he's cheated his way... Not everyone gets picked up by the media/tv/news like that. Not saying he doesn't deserve it, but he got a huge helping hand, that media promotion was incredibly valuable, it's like a rich kid throwing around his dad's $$$ to make more money. Someone will a million dollars to blow or a huge media promo has a much higher chance of making more money.

Guy get's popular on the news/media big time.
Makes a site about training for poker.
Takes all of those resources he just made, makes more sites.
 
Once you strip out all the BS you're left with a pretty good, one sentence blog post material:

Invest your money in to assets instead of liabilities.

Brilliant...

Forget the rest of the stuff like "estimated value", which seems to be plucked straight out of thin air as some kind of mixture between gas and childhood dreams gone wrong, and the 2k a month ferrari (good luck on that one) and you're left with a pretty good blog post. Oh and the anecdote of a guy investing 20k to make a contract on a ferrari 2 minutes later on faith that the website won't crash and burn. Leave that part out too.
 
PhillipsPierce said:
Once you strip out all the BS you're left with a pretty good, one sentence blog post material:

Invest your money in to assets instead of liabilities.

Brilliant...

Forget the rest of the stuff like "estimated value", which seems to be plucked straight out of thin air as some kind of mixture between gas and childhood dreams gone wrong, and the 2k a month ferrari (good luck on that one) and you're left with a pretty good blog post. Oh and the anecdote of a guy investing 20k to make a contract on a ferrari 2 minutes later on faith that the website won't crash and burn. Leave that part out too.
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He actually rewrote Rich Dad Poor Dad with a spin.
 
Still doesn't make sense to be making a $2100 / mo. car payment when you could be investing that money instead of throwing it away. I want to be rich and achieve financial freedom, I don't care about driving around a sports car. To each their own...I'd rather buy time (i.e. invest and retire early).
 
lschmidt said:
Still doesn't make sense to be making a $2100 / mo. car payment when you could be investing that money instead of throwing it away. I want to be rich and achieve financial freedom, I don't care about driving around a sports car. To each their own...I'd rather buy time (i.e. invest and retire early).
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K, from the blog post- had other money, and had many other businesses bringing him in money each month.

He wouldn't advise people who only had $20k to do that. Nor would I.
 
The point where the story makes no sense is, that he is easily able to invest 100k.
The way he described that says clearly he have that money - cash, extra and fully avaible - money ready to invest.

If you can invest such a sum, there are much better ways to invest that - buy a part of the next bigger thing, let other people work for you.

There are smarter way to work with such a sum as to buy some website. Buying sites is always good risk, buying a niche you don't understood even more - even his friends knows a bit more.
 
for 40k he could have bought a wrecked one and had it fixed. I've seen it done and know plenty of "ballers" who take the short cut route.
 
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