Digital Social Hour - He Sells Luxury Cars for a Living! | Nick Dossa Digital Social Hour #109

Episode Date: September 21, 2023

On today's episode of Digital Social Hour, we sit down with Nick Dossa and we talk about how he build up a 9-figure luxury car brand and where he sees the luxury car market going. BUSINESS INQUIRIES/SPONSORS: [e-mail] APPLY TO BE ON THE POD: https://forms.gle/qXvENTeurx7Xn8Ci9 SPONSORS: Opus Pro: https://www.opus.pro/?via=DSH HelloFresh: https://www.hellofresh.com/50dsh AG1: https://www.drinkAG1.com/DSH Hostage Tape: https://hostagetape.com/DSH LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast... Spotify: https://open.spotify.com/show/5Jn7LXa... Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Merchants Bank is a proud member of FDIC. Six and a half and seven and a half. I'll give you that range. What? What do you think about the Ferrari truck? I think it's cool. I think it's cool. Yeah, I saw it. It's pretty cool. I have one coming. Oh, you do? I'll have one coming.

They were saying that they were sold out. If you got the right contact, you can go. I had one customer buy 40-something cars for me. For real? He spent over $30 million on me. That's big. Yeah, that's big. And that's not normal welcome to the digital social hour i'm your host sean kelly here with my co-host wayne lewis what up what up and our guest guest today, Nick Dosa. What's happening? How's it going, man? Good, good. Just watched the game three of the Vegas Knights. You're the

official sponsor. Yeah, official luxury car sponsor. So yeah, it's kind of fun and rooting for them. We lost yesterday, but it's okay. So what'd you drive here today? Cullinan. Cullinan. Oh, okay. Those are expensive, right? Yeah, about three, four hundred, four hundred right geez five for a black badge yeah wow depending on which half a mil on a car yeah that's insane man that's normal these days what can you get for a hundred thousand today a tesla yeah you buy a camry for 65 cameras are 65 imagine that right for a fully loaded camry you know probably get a charger charger yeah charger yeah hundred grand yeah around there what's like your average order value when you sell a vehicle like 100k um or sweet spots like 100 150 000

that's the highest aov i've ever heard like that's six figures probably easy well you mean on actual like what the average car we sell price-wise yeah yeah yeah that's insane I mean I mean it's it when it comes to exotics gotta had a bankroll but you gotta have a bankroll you gotta have a bankroll to get it and then a bankroll to fix it yeah true you gotta have two separate bank accounts for that for one car why do they break down a lot no well no it's not that they break down a lot is it when it's time to get them fix cost doesn't insurance cover rates and stuff that you got to take off to even see the engine messing on the Rolls Royce that's where the full service

department you know I mean so we take care of it we have extended warranties we have also but a lot of stuff's under warranty so yeah I mean when you buy exotic you kind of know what you're getting into this is the panel they're they're not needs their wants yeah absolutely but they can their assets i feel like they're 100 yeah during cover they're even crazier assets i mean you could buy a car brand new and take it off and put online and sell it for 50 grand more not only that i mean it raises your work um your network is better yeah um people you start to meet women you date obviously depending on what your motive is but it's definitely helps the edification

that comes with it I mean it's just it's a different kind of generation now right here we look at things on Instagram and in social media platforms that are like oh you know hey this guy drives a McLaren this guy drives a Lamborghini oh I want to talk to him mmm they don't know the guy that driving the Tesla has the same amount of bankroll or if not more it's it's it's perception that's that's the crazy thing but yeah these are these are definitely marketing tools not so it gets the attention absolutely now how did you get started with this because obviously this type of industry you need a lot of connections in capital yeah so

I started back in Canada I was born and raised out there and I was going to school and I was going to school for medical and stuff like that as any Indian you know kid would go to the right say hey you got a doctor here so he was going through school and doing all that nothing I was buying and selling cars in class I was making more money than my professor how can I listen to this guy tell me this is what you're gonna you know go to school you got a school you make 150,000 a year and you know I'm making three four thousand a car I'm selling ten cars a month while I'm sitting in class and doing a full course no how's that work so I couldn't justify it you know so I talked to my mom is a hey listen I gotta I got to do something

different she said well you got to finish your school so I talked to my mom is a hey listen I got a I got to do something different she said well you gotta finish your school so I did that and then started the car business cliff notes version did it in Canada and then moved to Vegas to be closer to family so yeah big person wait so how are you flipping them in class where you just drop shipping them no back then you think about it like you couldn't do that you had a cell phone and you had the auto trader book we didn't have online kind of presence like we do now you sign on the auto trader book yeah man you just buy it you clean it up you take a picture you put it in the auto trader book and you pay extra for the the color ad or you pay lesser

price of the black and white and yeah that's the hustle right there that's the hustle you'd have a week right because it's a week every week it would come out so you have you buy it you clean it up get it done fast put it online so next week you're hoping to sell it you just wait for your phone to ring and now it's more so like with the internet and social media now you're just selling the lifestyle still in lifestyle yeah selling the lifestyle that's exactly it you have to you know you have to learn the business but i think i'm appreciative that i did it like that because I think I got a better value for the business. I think I understand the business better because of it. And I know I watched the internet transition happen, how everything kind of went online and started.

So for me, it was like, okay, cool. I was able to see it gradually go. And why did you stick with buy-sell and not get into car rentals? Because I hear there's good margins there. You know what? There's a lot of guys that do rentals and stuff. And one of the bigger guys in town, we started at the same time. I opened the dealership and he opened rental.

And I said, hey, I'm going to do dealership and you do rental. We stayed up each other's way. But for me, I'm a liability person. I'm very calculated on everything I do. So when I go to sleep at night, I want to sleep really good. I don't want to have to have that stress because the minute you pass over your car, it doesn't matter if that person's insured or whatever. Kill someone, it's still going to come back on you. You got a problem to deal with.

It doesn't matter. It's liability. It's all liability. So it's calculated risk. For me, I just, well, I take the risk if I don't have to. The reward is not enough. Yeah. I actually know someone that that happened to.

One of his rentals got in an accident. The guy died and then he had to sue and he lost a ton of money and when you get sued you're always fighting the guy sued him the guy so there was two guys in the car one of them died the guy that survived sued him and he had to pay cuz the guy died so it's great that's crazy you gotta think like when you get sued you're on defense mode right yeah offense so you're like you're always defending yourself and you didn't do anything wrong yeah so why put yourself to that stress it does seem stressful a lot of cars get in accidents yeah I mean I mean it's

risking in every industry even with selling cars sometimes you know the guys will rent cars right now and though they'll take it to California wrap the car because before you got the painting car but cars right now and though they'll take it to California wrap the car because before you have to paint a car but now you can wrap a car and you know create a digital sticker change the vent goes out somebody for cash Wow yeah dude did that he saw the hell can know what it was a rental yeah you do get me 50k for that's insane that way what about the license plate I mean it's the same plate how is he selling it well I mean you people don't know the difference they just see a sales sign you got caught when you go register the car you couldn't register

it geez so during kovat that car spike I mean what was your life like cuz that was great I was having a kid during kovat you know everything was shutting down and I'm like getting ready to shut the business down because what's just everything to stop shut down we had to shut it down as in like we were to stop everything and stop business until everything reopened most people couldn't do that they were losing their businesses we were able to just close it off and take some time off which is kind of nice in the way I had a baby during that time and then all of a sudden they said okay well cars are essential business mmm perfect

let's open up and we're first to market again I had a bunch of inventory so prices have already gone up but during right when cool it was hitting I was buying stuff left right and center people were panicking mmm I'll say this okay cool give me a hundred thousand I'll take it cars with 150 I don't care I want a hundred give it to me Wow, it was just she took advantage of it. You have to what's the most expensive car that you got? Okay, so if you drink Ovid I'll give you that one I bought a Bentley for 150,000 it was a 2020 Bentley GT first edition W12 coupe.

The value on it was? $380,000. Yeah, brand new, about $340,000. What? And the guy had 1,000 miles on it. Bought it for $160,000, I think-ish. Right, like it was your title. Bought it for $160,000 and turn around and flipped it for 240

overnight overnight yeah that's a full-time salary but those deals don't happen you know it just it was time in place it's got a brand new car and where where's the shit yeah but the guy that need to sell it for him that money was so important because he was preparing for the worst every every was yeah so why we don't need those cars and stuff like that anybody that's smart with business and say hey listen I'll take the cash cash is king let me sit on the cash pile and then deals come over it what's it like at car auctions what do you have a strategy

going into those I used to do a lot of auctions I don't do as much anymore it's just not it's not a kind of our car culture in a sense we do get some fillers here and there from other location the cheaper stuff but otherwise car auctions there's a reason the cars at the auction one and sometimes dealers just sell in there because they need liquid cash flow to keep the ball rolling so there is some deals but there's you gotta always check the cars out you got to know the history do your research make sure things good you know so you've gotten some like messed up cars at them oh yeah I'm percent taste in your 100% absolutely yeah because once you buy it to the

auction you can only have so much recourse and by time you get the car here you inspect it all something's wrong yeah you're taking the L on that you gotta know you gotta have holes where you buy your stuff and a lot of repeat business for me are you are you doing consignment to we do a little bit not very much it's most mostly consignment if I take consignment car that I've already sold to a customer because again it goes back to hey you're gonna consign the car to me I don't know the history on the car you know but like my children you gotta think about it if I didn't give you that it's a liability again calculated risk if I'm selling you a car

I have to be able to stand behind it 100% I can't say hey take this deal with it on your own that's the worst how do you manage supply chain because I drove by yesterday looked like you guys have a ton of cars I mean how much money is actually tied up there which location the Sahara location I think the main one yeah so we have two there's one on Dean Martin that's right off the strip and the other one on Sahara but cumulatively between the two locations about 35 38 million cheese there was like the one on dean martin is uh it's sometimes there's a lot of cars sometimes like that there you know what with this whole uh baseball thing that was happening i had to make some transitions and so we turned part of it to our service department which we already had

we made it bigger and just amping up because you can't you know just jump from 40 000 square feet to 80 000 you have to have a little bit of a step in between so that's kind of why some things are transitioning around there but it's usually loaded it's got all that big dollar stuff in there that's the toy store yeah yeah and i seem i feel like also too with vegas transitioning into a bigger city and becoming a real city of entertainment you guys don't yeah you guys i mean the athletes are here yeah they're coming i, the competition is not really there in a sense fully because you specify on specific type of cars that they want. The thing is, you know, there's a little bit of luck and a little bit of timing and a little bit of, you know,

God's work and, you know, some prayer behind it. And I think that we've made a big enough splash that we're a little bit ahead of the game overall. name is there it's establishes a household name in town for sure now and when you're at a certain point you're already big enough that if someone's to start yes they'll start there's a lot of competition there always is and I and I love that but I think the leading factors that were the largest by far right especially in this area yeah you got the most capital the most clientele you got a head start you certain cars the owners of the

sports teams are customers all the athletes in sports teams locally here our customers and their friends and then there's you know celebrity clients even a couple people that just moved to town that are big names or clients, you know everyone I know in Vegas that owns electric car So what For me I look at his dollars and cents I'll take anything if it has profit in it It doesn't really matter what it is but there's certain cars that are problematic like you know like the Karma so this car karma Fisker karma they still make it they still they're called karma now but those are trash

yeah those are trying oh man what about McLaren's you'll sell those we sell we're the only dealership in town that can service them oh really so I have all the equipment to service McLaren and we sell the most McLaren that have anybody here in town so yeah Wow Clarence only place I could service them that's great they're like race cars so they're super specific yeah yeah yeah okay so we have special text proper text from proper locations that have come over and we nitpicked and chose the best ones and we built the dream team nice and what cars are just flying off the shelf they're gone same day you got him

for a while there was a lot of Lamborghini Huracan evos something that and for a little while it's 488 spiders they go in trend kind of weird you know like how it works one kid gets it and then yeah other people like it or it's just a trend what's in the market you'll see market supply go up and down and as it's going down and all those cars get you know take it out of the market and there's more it's just it's hard to explain that yeah but it's nothing really just comes and goes right away if you have the right car and the right price and the right color and the right options it's gonna go now have you guys got a

kumtosh it um few of them well few of them yeah I seen a purple one I was at yours no the new kumtosh that was a customer was actually no us yeah yo the new kumtosh pretty cool oh my goodness what is a remake yeah I'm a fan of the old one the 8 9 25th anniversary edition I think still the best well I just kind of like that it's a pioneer Lambo and the fact that they recreated it yeah like supermodels nostalgia to extend it's so rare yeah how many did they make like 500 I don't know but you don't see them they're specific but they're going a million over on the circuit yeah you don't see them like you're not gonna see it so when I see when I was right I thought I imagine

them oh yeah we got a network with that guy whoever owns that yeah a milli for a car what's the most expensive car like the most against the car I've sold was a LaFerrari Aperta Wow how much between six and a half and seven and a half I give you that range why we yeah those are sorry which one a perfect perfect dude cars are six mil there's some more there's there's car collections that I've been to in quail where there's a 30 million dollar Ferrari and there like some old school stuff like stuff you even you even know what it is and I don't even know because years past my time but yeah it's just

like they're eclectic to that point oh like a collector car like oh yeah like they don't drive them but they're like you know that makes that so far ahead that it's that's what they're already made ten of them or so yeah and they're like five of them been crashed there's five left no yeah if you wanted a Ferrari could you just go to Ferrari get one or just they're like a waiting list like Rolex no there's a waiting list I mean this dealership here in town they don't get very many allocations it's a book so yeah they kind of suffer with allocations a little bit a lot of guys out of town will get you better cars as

far as new stuff they have more it's about how much volume you do so if you do a lot of volume then you get more allocations got this store here doesn't do as much volume so they don't get as many but other states San Diego you know Beverly Hills they get more cars for example you can go in there and order one and wait for it like a year but if you wanted one brand new sometimes you walk in a Ferrari in a different state you can go in brand new yeah Wow what do you what do you think about the Ferrari truck yeah it's cool that's cool yeah I saw it's pretty cool it's different right yeah they're hitting the ground now I have one coming

are you they'll have one coming they were saying that they were sold out yeah they're so that if you got the right contact you can write so is yours gonna be sold already by the time you mom and someone really bro so you already got some people in mind? I got three customers waiting for it. Wow. Waiting for one cart. Yeah.

So what do you do? You kind of do a bid? No, I just say, hey, listen, it's available and whoever's ready to cut that check that day, they can have it. Okay. How much you selling it for? I haven't decided yet. Once it lands, we see what the market is that day and I'll make sure I discount it for my

customers and that's how I keep my people happy. Okay. So you're gonna discount it want discount of course 100% I mean it'll be over MSRP yeah I'm getting it at MSRP right but they're gonna pay over MSRP right but I'm not gonna charge them crazy like somebody else would yeah doesn't work you value customer service business on customer service but that Ferrari truck these words well he could but he values a long-term relationship I mean so I like you play the short game I play longer yeah you want them to buy from you again over and over my friend bought

seven cars from them yeah I've had one customer buy forty something cars for me for real it's been over thirty million dollars me one guy's one day yeah it's been that's not normal that's not normal because usually it's like one time you don't like the service or you oversold you or it just wasn't good so you build a relationship with them like kind of like family you know 100 you have to i'm available you can call me on my cell phone at midnight i'll never be too big to my britches like my phone is always my number's out there you want to get a hold of me you can get a hold of me some people are like oh i own this store i own that store no I'm not available no that's not

how it works you have to really get hold me because if I'm doing something with you even if I'm doing a salesperson I have an issue I'm gonna call the owner and say hey what's going on I'll handle it Wow but you have to not a lot of servers do that no they don't that's what that's where the fall is right because they're bigger than the company it will be so too big for their bridges right you. That's what they feel. Right. And how do you go about marketing or is everything word of mouth?

We did a lot of marketing in the beginning. Now it's a lot of word of mouth. Now it's a lot of referrals. Yeah. The product speaks for itself. Yeah. He's selling something to a certain group of people. The thing is though, when these people, they're all like for you, for example, if you got

a car from me, right? It would come up in one of your podcasts. You would come somewhere saying with you hey i bought it from nick oh cool well you're credible you're credible yeah great now i became credible so let's you know right just selling to the right yeah it's on the right people not even that but they just talk right and if they have a great experience of nothing bad to say like them then then it's on yeah why why not yeah he's gonna discount a ferrari truck for his customers you don't hear know why he said that especially do you know why though even to the step further if i discount it and i give it to him a good price i know that guy's gonna be bored of it in six months he's gonna give it back to me i'm gonna make money on it again right facts

bigger play why do you think a lot of luxury car dealerships judge you on the clothes you wear when you walk in you know what that's one thing that's a great question I should love that you asked that because this is the thing I had a guy come in on a bicycle and buy a Porsche okay this guy look like a bum flip-flops his nails weren't cut he looked like a straight trash like honestly that you'd never expect that and we he came in I want to sit in this car I want to look at this car sure how can I help you it just so happened that that day I was doing normal treat him like normal like I didn't even that

didn't phase me Wow right and he's like you know what thank you he's like I just won the lottery actually and so I want to buy a car he told me at the end of the transaction the wire hit the next morning whoa what made you treat him normal because that's what makes you like that because when I was 12 or 13 years old I would go into dealerships and I would negotiate deals for my mom or you know and my brother when they were buying cars and I would negotiate the deal not one salesperson that took me serious it taught me then like hey look it helps to take you seriously moving back and bought those two cars that I negotiated you got to just treat everybody equal man like there's no such thing as

oh because I wear you know this brand or that brand I'm so and so it doesn't mean nothing these are clothes we all eat the same we all sleep the same we all go to the bathroom the same we're just all normal people we got to help each other just you know cultivate that you don't ever judge someone by how they dress yeah or they have a deficiency or a lisp or something but why like why why do that just treat everybody 100 100 i walked in the rolex store that's so solid bro yeah no it's fact i walked in the rolex store in uh caesars and i was wearing sweatpants and a hoodie no one would talk to me I roll up my sleeve pull out the 100 100 K watch they come talk to me I'm like I don't even want to be you know you don't want to do you already got a bad t-shirt

mouth like I walked around the whole store for 10 20 minutes no one even spoke to you didn't no one yes max the people that have real money and I've seen a lot of it believe me okay there's people that come in that are dripping in like brands and diamonds and this and that and then there's guys that come in that are golf shirts shorts wearing it like a regular Rolex nothing and they have more money than you can even count and the people that come in so what's my credit like can i get can i get approved for this car what's my payment going to be like it's like it's a whole different

ball game right this is when i think i'm a firm believer in that when you're trying that hard you really don't got it and i know that people that have it they don't show it true wealth is very quiet right when you have real money you want to talk about it yeah yeah a lot of the billionaires are they just want they want what they want yeah it's not too much you know why would they just you know it becomes just a norm at that point it's just something that makes life a little easier mm-hmm do you want to expand other cities or you sticking with Vegas definitely expand working on some stuff out in Utah right now and

that's what I think for wall expand maybe in California eventually but not right now not for a while Vegas is our main focus but why Utah just in St. George there's a little bit of a gap there that we're filling right now already so already have a location getting set up over there okay okay so they don't have any spot up there no it's not a big enough market for two people to go into but I just need something there just to facilitate what I'm already doing over there but Vegas is our main hub and then company culture wise how did you build such a cool culture you know it comes back to it's not work when you're having

fun mm-hmm right so if you go to work in the more you wake up you're excited to go there you dress acceptable right to do with people that come in because we have to look good to deal with people right but you know it's not over the top where you have to go and wear a three-piece suit and feel stuffy you want to go be relaxed go and have fun i have a golf range in my dealership ping pong tables ping pong pinball union like we have some games stuff like that it's it's the culture is built from within and it all comes from the person that's leading the group which would be me in that sense and if i'm relaxed i want everybody

to relax if you're not happy i want you to tell me what's going on you know and kind of understand your people everybody has issues people deal with things on a daily basis some people have illnesses some people have family that has illnesses and we carry that stress as human beings we're caring people right so if they're stressed I'm stressed for them and how can I help that situation so the culture is all about like we got to help each other we're a team and if I don't have my team I'm nothing I'm just one person I cannot do anything in that place that I could make it go by myself I am my team right and my team is all together and they all look after each other you said yes so we did outing at Topgolf for the watch

party for the Golden Knights you shut the dealership got four o'clock so every go let's all go out and enjoy you know that's that's called culture right because you consider them friends and family and friends and family of course well work together we have each other's backs you know they're watching something I don't see I'm watching something they don't see that's how the culture you got it it's got to be built from within yeah I feel like a lot of companies just care about the work and not well I mean the happier the happier the employee the longer stay percent yeah let's turn over you know how to deal with training with people new personalities can't trust people stuff like that he kind of keeps his core together mm-hmm

it's a good business model okay you have to minutes really it's really important and that's where people fall and fail you know because they don't they don't have that culture right you have all the money in the world you could have the best business but you don't have your team behind you or nothing hmm how do you deal with money speaking of money is is that like super important to you or you just do the business part mainly for fun you seem so grounded yeah I know what I went through to get here you see so grounded like just you know you already know like you know I know what I went through to get here. You seem so grounded. You already know.

I know what I went through to get here. I know how hard it was. I know all the things I went against, all the people that were against me even when I was getting my licenses here in town. Oh, he's never going to make it. These other dealers in town. And now they're like, hey, can we be your best friend?

Let's go for dinner. I'm cool. I'll go for dinner with you, but I already knew where you came from. Have you ever worked for anybody ever yeah I worked at a dealership in Canada for a little bit I wasn't in sales I was doing buying I was a buyer I had my dealership I opened and sold it off and when it worked for somebody for a little while obviously we're a buyer you know as a buyer and basically handle their locations was that a play on just learning the infrastructure absolutely getting the the

basically the blueprint down so you can one day build something that you have now the blueprint is what you make it right but that being said you got to take a little bit of everything and you got to create your own blueprint right because if you follow somebody else's blueprint you're following their vision you know we could follow your vision if you have your own ideas and you put it all together you have your own blueprint that you're following we get in life we all follow our own blueprint and so I believe that's why I went to work for somebody to learn about that part of that position all right it's something else

another I was in medical sales for what I did to learn a different part of the position I gotta learn how people think when you're coming in I'm dealing with you I gotta know I gotta read you right there yeah you know as superficial as that is but I have to understand not where you're coming from the part of service yeah that's that's hills yeah that's the psychology of the cells yeah time comes still if you master absolutely because you can actually see who you're selling to before you can ask some certain questions you can tell your body language if they got it or not he can tell I'm sure yeah when you look back the growth of company what were

some big moments or like big setbacks or lessons you you remember you know in the beginning coming from Canada to here they don't recognize your credit you know I got a 800 score in Canada but that mean nothing here to be like me being a person that was just born and have no credit zero doesn't matter doesn't matter if you have a credit card in Canada doesn't nothing here so I had to start from zero which is like a 250 dollar prepaid credit card imagine that to try and build credit and build credit like that and you need credit in this business 100% I'm not saying you can't do without credit you have to have credit to do right and so those are some of the challenges I went through

because they the bank give you a lot of credit to buy the cars if you have good credit you have the financials and give us the stability and the stuff behind it to support it I don't know especially right now trying to get a line for Carson okay man it's impossible the banks are so scared right now trying to get a line for carson no way man it's impossible the banks are so scared right now really yeah absolutely there's too much like two years to ground too shaky right now we're not it's just the you got the war you got the currency you got we're we're basically in a in a recession and has they don't know how bad it's going to get. So they're kind of pulling back a little bit. Vegas is going to be six months behind the recession.

Why? Because of the sports teams we have. We have too much hype at Formula One. The Knights are doing great. You got the Raiders here. You got baseball around the corner. So many draws. So there's so many things that are drawing.

But soon enough, it's going to catch up. It always catches up. What goes up must come down, right? Right. So eventually it's going to catch catch up and we will feel the recession will it be as bad as most places probably not because this is a place where people come with a mindset I'm going to Vegas I'm gonna spend money right right so it's that mindset but we're definitely feel it for sure

enduring the pressure times to depressing times Vegas did travel the tourism actually goes up the roses are happy place for them yeah interesting yeah you know so have you been through a recession in the car industry yes actually I have but not as not like as bad think about it like this right for example when all these prices were going up we went through a different kind of session when the prices started adjusting I want everything super high and this was after COVID right and early start to adjust I mean you're losing twenty thousand

thirty thousand per car mmm you have to be from time you purchase right from the answer the price would just drop overnight you know and so how did you pivot you have to just unload and you have to stay lean yeah you don't make money when you sell you make money you buy I've always you know said that that's my main thing the money's made when you buy the car and that's what you're wait for the deals some people just because they have money available they want to go spend it all on cars do that don't do that take your time pick and choose your your stuff but during the market adjusting I had to just take those else mmm Wow yeah and

that's where most people couldn't be they spent that money right they thought this is never gonna end mmm I have everything I would sell I put money aside put aside I had to have that slush fund to go back and take that money and bring all my inventory back to them all right so if you didn't do that you would have been screwed no most people probably would have called shop or just liquidated everything you can go from having all the equity could have five hundred thousand dollars in equity in your cars because your profit late on the table here but that could flip overnight you have negative 500 how you gonna write the check to that 500 mm-hmm most guys don't have that yeah they don't they

don't they're working on too thin of cash flow to be able to do that and because of planning and how you structure your stuff you set it up so that way you're always able to just pivot and move along yeah Wow learned a lot man you got anything else no i wanted to ask you so when buying cars do you buy based off trends demands maybe colors or you kind of hear what your customers are saying or what they're requesting and then you're like okay cool my next set of cards are going to be these 10 or 15 or these 20 based on this and how do you what's the mindset going in when you're when you're buying dollars

and cents a little bit everything a lot of it goes into this right so it's like what my customers want it's also like what's hot for you yeah you're like what I would I buy that like black on tan interior and clearing like for example black music that's hot that's a got a look you've heard of this one Would I buy that? Like black on tan interior, McLaren, like, for example, black wheels. That's hot. That's got to look. You've heard of this one that's just black on black, silver wheels. It looks basic.

People want that stuff that's the nice color combinations, the good specs, good options. You know, that's what I look for, right? You've got to find what's kind of the sex factor of it. Gotcha. Right? And that's what really makes it appealing to people. Because if I have a car online, how is mine different than anybody else's right right how this besides price McLaren but different from this orange McLaren it's

good it's got to have something to it something about it yeah so you just look for the uniqueness of a car yes we make unique you know little things like that oh so you make them you sometimes little tricks okay I got you last question what's your dream car I think you got them all I do I do I mean I love I love Porsche's I'm a big Porsche fan yeah I have a 91 965 that was one my dream cars I put it aside 18 GT2 RS I just love it put it aside fire but I think eventually I think I'd like to just get a lot Ferrari just to have which one which which year probably go for a 14 14 only made it two years yeah but the thing is that that was one of the biggest hyper cars that we sold originally and I said

man one day I'm gonna have one of these yeah I can do it now but it's not how much was it back then I think yeah we flew out yeah my customers jet to go pick up it was 3.75 million door back then right wow that's insane man it's been an honor any more comments no man thanks for having me out i appreciate you guys for sure it's a solid podcast and awesome do some follow-up yeah we'll sell some cars from this i think let's do it yeah definitely should wayne anything make sure you guys holler at nick for your exotics he's the guy yeah if you're in vegas stop by Vegas Auto Gallery, guys. See you next time. Peace.