Buying 300 golf carts at a bankruptcy auction & selling them for 5x?

Don't let the ridiculously high stilettos fool you.
@LisaSongSutton is a former attorney & shark.
A thread from our call on buying at bankruptcy auctions:
Tiny lady + big profits.
5'2 inches of lil Lisa likes to call up trustee attorneys and tell them:
- she's a cash buyer and when they have items come up to put her on the list.
- that's how she got access to 300 golf carts at a golf course firesale
- she promptly bought them..
When I asked, "But, how'd you know what to buy them for, how to sell them and whether you'd make money?"

She replied, "Google, b*tch."
Ok. Point taken.
My thesis: bankruptcies are accelerating & that will continue...
Here's a way to invest (not to take advantage of people but bc it is an eventuality).
1) Call up your chapter 11 bankruptcy trustees in your city
2) Tell them you're a cash buyer and want to be on their list
3) Understand how trustees get paid: they make a commission on assets sold…
4) Show up to the auction, search local
And don't go after the big items, the debtors will take those.. But very often the little stuff is taken off the priority list and their crumbs are your profits!

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More from @Codie_Sanchez

8 Apr
10 Hard Truths About Getting Rich.

The things no one told me, that are the opposite of PC.. and turn out to be true... (a thread)
1) You need to know how it feels to lose, to win. You won’t take enough financial risk if you always play small.

So I hope you lose early, then you’ll see at once how it feels to survive & realize you aren't invincible.
2) There is a direct correlation between doing hard things AND making money.

The harder the problems you solve, the tougher the challenges you put in front of yourself, for some reason the universe rewards those.
Read 11 tweets
5 Apr
Buy land for $10k, and make $1,500 a month on it?

It's not just possible, turns out it's repeatable.
A thread on glamping and land grabbing:
All started when Kate Hacock told me she bought 3 acres of land in Joshua Tree for $10k (on a Contrarian Thinking call)

She wanted a biz that was low maintenance, low cost, low risk & didn’t have much wear and tear.

A plot of literal dirt appears to hit those parameters.
I like Kate, but my motto is question everything, I didn’t believe you could get land in Joshua Tree for $10k. Turns out, joke is on me.

Hundreds of acres for sale surrounding Yellowstone, Joshua Tree, Moab, etc for prices ranging from $5-20k an acre.
Read 8 tweets
17 Mar
Asked one of my 9 figure net worth friends what he's investing in RN.

He immediately responded with a $ by $ breakdown.
Knowing your money THIS well... is how you grow it.
Love twitter. You guys actually read. Should have mentioned this is 1 of 3 sheets of assets. Is it helpful to see a bigger asset breakdown? My point was asked him and he emailed me 10 min later. It’d take me 2 hours to calculate mine. Which is prob why he’s worth so much more.
Y’all have lotsssss of qs on his asset breakdowns and %s. At the bottom under crypto is a leverage segment where he has a margin account that accounts for some 15% ish. Additional buy in to something I don’t know what. RE?

Other qs drop em I’ll ask.
Read 4 tweets
30 Dec 20
How we created a community doing $750k in sales in 3 months: A thread…

We launched our community ( in August 2020 with a goal to create 100,000 business owners.

We’re far from done, but here are some lessons learned along the way:
First let’s take a look under the hood:

Cost is $1997 a year x (66 members) = $197k in revenue, 3 months in. Some discounts, freebies and we recently started but it’s growing FAST.

Which brings me to the first lesson...
Lesson #1: Price it higher than you think:
Sell your product at $10, some will say too high.
Sell your product at $100, some will say too high.
Sell your product for $10,000 --> less complaints, less returns.

The most bizarre yet true phenomenon to remember
Read 10 tweets

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