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Business advice needed, honest judgment vitaly welcome

Discussion in 'General Automotive Discussion' started by dev98GT3, Apr 12, 2020.

  1. dev98GT3

    dev98GT3 Rookie

    Apr 12, 2020
    2
    Full Name:
    Joshua Melo
    Hello all, I'll keep this as short as possible, I'm a 20 year old uncertain as to what industry to practice business in. Auto sales or Real Estate... Id consider myself to be quite educated in the automotive industry as cars & fiance are my two passions in life. I've worked in all sorts of positions in the auto industry, from service apprentice at my local ford dealer, "I found myself in the sales department more so then in the shop ;)". To a race track driving instructor at a supercar driving school. I love the high end market and watch values of products I find interesting religiously and am often times more educated on model specifics then 90% of the sales rep's at my local dealers. I'd one day hope to own my own private luxury car dealer, As I know how length of a process it can be to become a GM elsewhere, obtain financing & the knowledge needed to do so independently. I love business and am studying business management in Uni.

    I've been attempting to dip my toes into the real estate industry for the past year, specifically into "flipping" and affordable home development, I have no passion for real estate but it is potentially very lucrative. Before I start going down to path of becoming a real estate developer, im second guessing myself.

    Thoughts on my situation?
     
  2. 19633500GT

    19633500GT F1 Veteran
    Silver Subscribed

    Nov 9, 2010
    6,886
    Two areas with lots of risk and lots of rewards.

    Without knowing anything about your family situation, education, or experience beyond what you've posted above, it seems you are torn between following the money vs following a passion.

    Being a private luxury car dealer, at the moment, sounds like an awful plan for the immediate future, with tons of uncertainty on lux goods and etc. and an insanely large 'lift' of up front capital.

    RE, at the moment too, is a bit of a mystery of where we will go in the next +-1 years
     
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  3. topcarbon

    topcarbon Formula 3

    Nov 3, 2006
    1,946
    Illinois / Mexico
    Full Name:
    j
    flipping houses take some ready cash and construction skills.
    Good flippers either do the work themselves or have their own team to fix and flip.
    you don't mortgage flips so you need to ask yourself, do you have either of these?
    I would start as a real estate agent if I were to go down the RE angle.
    As far as cars, same problem, you need a lot of cash, and patience, and be prepared for no sales.
     
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  4. centerfireman

    centerfireman Karting
    Silver Subscribed

    Feb 23, 2015
    127
    Santa Rosa, CA

    Given your youth and the uncertainty in both of your possible professions, I would encourage you to concentrate on your education (which you are clearly doing). A solid education will probably do you more good over the next 60 years than making the "right" decision about a profession at this age.
     
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  5. rampante550

    rampante550 Karting
    Silver Subscribed

    Jul 20, 2010
    155
    North Carolina
    Full Name:
    Daniel
    This is a tough question, but a different angle on this - if you fail, which one prepares you for your next venture?

    If you spent a couple years flipping houses, you will have gained some handy skills (carpentry, plumbing, etc.), maybe your real estate license, and if you're unable to flip your last property, maybe it becomes a long-term rental or your place of residence.
     
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  6. fatbillybob

    fatbillybob F1 World Champ
    Owner Consultant

    Aug 10, 2002
    18,570
    socal
    Everyone I know who has made their hobby/passion their work has ended up hating the hobby or have the hobby diminished as a passion. That statement is no truer than once passionate guys you meet in the paddock, now turned pro supporting other race drivers, that used to race themselves. I know a great guy in socal who started an HPDE business because he wanted more free tracktime. The result is a killer HPDE business but now he rarely gets on track himself. He has the time and the money but when you spend the majority of your time dealing with track stuff when your time is free you want to do something else. It is just human nature.

    Everyone needs their own formula. I say follow the money so it provides, so you can love your passion. The end result is you appreciate and love your profession because it allows for your passion.
     
    rampante550 and dev98GT3 like this.

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