Pejman Ghadimi
Appearances
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
the world has been conditioned to think they can basically buy things and they have to make a ton of money to keep wasting their money buying luxuries but i teach people in and out how to actually park their money in luxuries and live much better lifestyles than they ever thought possible without actually wasting or spending their money but rather parking it
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Terrible. So this is the big misconception in the world of cars. People believe that the revenue associated with cars has to be when you share them similar to Airbnb. And Turo makes that very easy. You can rent stuff. If you want to make money renting cars, buy Corvettes, put them on Turo. It's cheap. It's easy.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Buy a couple of ones, even if they've been salvaged, hit before, repaired, and put those on Turo. The amount of money that will come to rent that on a continuous basis and just keep giving you money, even if there's an accident there and there, the net positive will be better over time. It's a risky business because generally you have to have separate insurance.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
You try to put it on people's insurance or tourist insurance, but there are very high limitations there when it comes to exotic cars, not so high on cheaper Corvettes and Audis and things like that. So if I was going to try to make money in the rental business on tour, I would never rent out an exotic. You have to understand that when an exotic gets hit in an accident, it's worth 20 to 25% less.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
I am the founder of Exotic Car Hacks, Watch Trading Academy, and also have authored a ton of books on human awareness and how basically humans make decisions around their day-to-day lives.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So, right.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
the moment you throw your car and you're like oh yeah i made like five grand i didn't do anything because someone's work is done you don't think it's done and the money's gone so you want to avoid that at all costs and and one of the big misconceptions again when you're in a position to own something like that like generally own it you don't want to lend it to people like yeah i've never seen someone that's like i i've made enough money to buy mineral source and in order to pay for the payment i want to lend it to a complete stranger for two days
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
No, nobody wants to do that. Like nobody will do that. Like generally people that do that is they don't understand business and they only see business in a linear manner. That's like, well, if I buy the car and I have a 5K payment and then I rent it out for five days out of the 30 days, well, that's 5K, like my payment's paid off.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
But they don't look at the liability, the asset costs, the issues with if they get kicked off tour or they don't cover the insurance. So they put themselves in a bad like financial position. And I would never, ever, ever tell people that renting their car is the way to minimize their expenses.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
You can hold, like I have a very extensive personal watch collection and a very extensive personal car collection, very similar to Andy Frazella's collection. Like I have a lot of cars from Bugattis to like Porsches, rare, old, new. And one of the things that's really key is once you get through this process of buying and driving your cars, you obviously get richer in life.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Like you obviously make more money, you get 10 years older, you have more adult money, right? Then when you're in your 20s and your 30s, you have more serious money. You might build a business, things might change, or you might be in a position where, hey, for 10 years, you've done this strategy we talked about and you didn't actually waste money.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So even though you're making more money, you know, it keeps accumulating. And at some point it makes sense to switch from this idea of, hey, I'm going to drive a new car every two, three years and get in and out to I'd like to own two to three nice cars like a Porsche, a Ferrari and maybe like a Range Rover.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And you can start buying cars that historically go up in value every single year for the next 30 years. They'll never go down. And they won't always go up every single year like 2% or anything. But over a 10-year period, historically, they've never not gone up at least 10%, 15%. And there are bumps when they might go up 30%, 40% if it's a very rare car, depending on the type of car you buy.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
There's a lot of stuff in there.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And they don't have to be expensive. In the last, like, maybe two, three years, we've seen cars that were 100K go up to 250, 300 because they're becoming collectible and they're older and there's less of them on the market. Or suddenly a celebrity ends up buying a more vintage Ferrari. A lot of people are like, oh, that is a collectible car we never looked at. And there's only 10 left.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Exotic Car Hacks is a platform that since 2009 or so has been teaching people how to buy, trade and sell exotic cars as a means of actually parking their money into alternative assets instead of actually looking at cars as liability. It's helping them look at them as an asset.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
They quickly get off the market. Now they come back at double the price.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And the same articles were there about watches in 2020, 2021 and 2022. So that's a marketing strategy, but yeah.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Okay. So it's very true that the right handbags and particularly Hermes bags from the Kelly and the Birkin, not all sizes, but the majority of the smaller ones from 28 and down will typically be worth more than MSRP brand new. As soon as you buy them, usually two to three X, depending on the color, the leather and the styles.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And it's very true that with the price increases of luxuries, so like you've seen this over regarding tariffs, you've seen this over the last like three years because of the COVID and supply chain issues, you notice that generally speaking, like manufacturers will raise their prices because the cost of goods go up.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Well, that stabilizes the used market to basically not move or also move up with it. So if you had a bag that was two times MSRP, meaning that brand new came out for 14,000, but used was maybe 28,000 on top of that in profit, right? So it was basically selling for like 30 to 40 grand, right?
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
that bag, if the price increase of the bag goes from 14 to 16, will not go instead of being 30 to 40, will go like 33 to 43, you know, so it'll move up over time. So the cost of entry gets more expensive. And it's it's very true because bags are another asset class that hasn't depreciated over the last 10, 15 years.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
But Hermes bags have gained popularity, but even pre-popularity were so scarce in certain colors that they end up being worth a lot of money on the secondary markets. Now, if you don't have the access to the list that Hermes to get a bag, you can still buy used bags at the right... Like they're used, but like brand new, meaning they're new in box, but they're not sold at the store.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
That's what I mean by used. And you can still make those bags literally like turn into a profit center by wearing them for free for... Three four or five years and maybe making five six grand at the time of sale And we teach that in one of our courses to called secure the handbag secure the handbag.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
That's great Yeah, we have courses on the cars watches Art and handbags as well as real estate So we we basically teach people how to take any of the expenses that their lives required them to have In the luxury segment and turn them into a money-making opportunity instead.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So that gets a little bit trickier. So art and wine are a very acquired taste, and it's a very specific type of segment that's very hard to transact in. Actually, you're a case study in one of my courses, too, for the card market. You know, because you do the all the cards. Yeah, exactly. So cards.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
I was actually talking about this in one of the in one of our webinars is that a lot of people ask me, well, what about cards? What about sneakers? What about these other things? Right. They're all collectibles and technically they could be sold. So it goes back to the wine thing. So you'll kind of loop into this.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So the reason sneakers really don't fit into the model we talk about is because sneakers have no utility because once the utilities used, meaning once you put them on, The value is gone, right? So, right. So they're gone. Like you buy those like expensive sneakers.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Right. Like, so you're buying them, right? Like, and you, you understand they're worth a lot of money, but once you use them, that worth basically disappears. So it's almost like you can't, you, you can buy something. It's arbitrage. You buy cheap, you look, it might go up, you buy it. So. It's different because we talk about the utility of things is just as important as the investment.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So the difference between investing in the stock versus investing in a car is that you want a car. You're going to buy a car anyways. You want a watch on your wrist. You're not forced to. You're going to buy it anyways. So the utility is very, very important.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And cards, specifically, don't necessarily have a utility in that manner because you can't, like, throw a Pokemon card at someone for something. Right.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
The main thing that's really important about cards is the one piece of it that's become very transactional over the last couple of years is the institution of it, which means that people like you have basically opened shops that enable people to trade these things and have liquidity for them, right? So they can come to you. I'll buy it. Right. You'll put a number on it.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Now, that number might be lower than what the market is because you're like, I'm in the business of making money.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Which usually leads people to not buying those things because they're usually looked at as a bad investment or as a bad purchase because it's like a kind of a piss your money away purchase, right? But the way we've reframed this, and we've been really good at helping people understand that
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Exactly. And cards have become that because of people like you, because they're becoming more institutionalized where people can trade them. So wine also has its model like that, but it's not as open. And because it's such a scarce amount of people, it doesn't work in what we talk about. So similar to art too.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
You could have art that's like basically $5,000 art that's worthless that you're buying that has no value because you like the picture. Or it could be blue chip art. Like you might be buying something that you like a, I want to say like a brainwash or something that you're like entry level still has some kind of tradability because people want it.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And you might say, OK, I paid like five, but it always will be worth four. Like so it's always has some liquidity. And that's what we mean by a store value. So you have to find things that have a continuity of institution being willing to pay for it so that you're never overpaying and have huge drops of like 50 to 80 percent because you're just buying because you want it.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Nobody really wants to put a pawn shop, you know.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Of course. So the value keeps going up, of course. And it's the same thing about those collector cars you talked about. You know, when you're only making five Bugattis and you've got 15 people wanting them, in five years, two of them will be crashed too. There'll be three of them, you know, and there'll be people that'll never sell them.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And there's that one guy that'll drop it and he'll be like, I'll sell mine for five times what I paid for it. And someone will be like, okay, I'll pay it.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
I think I saw that on social.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Significant. I mean, but remember, in the watch market, there's also this illusion of this heavy illusion of scarcity. So if you go to a Hublot boutique, you'll see they'll say this is one of ten units, but ten units of something nobody wants is still worthless. So it has to be very specific.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Like if you said, hey, I bought this really rare Ferrari everybody wants, and this is the only one that's baby blue, it would bring significant money. But if you said, I bought this Ferrari that nobody cares about, and I decked it out in this beautiful pearl white, and there's only one in the world, it would still depreciate 50% of value.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Not every car is created equal and the right Lamborghinis, the right Ferraris will depreciate during their first year, but then ultimately hold flat at what we call a bottom cash value.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So the argument is if you're buying the goods people want generally, and you're getting the scarcer versions, meaning the versions that are even more exclusive because of the dial, because of the, like maybe the size, the dial, or if it's a car, it could be the options on it, the color, the specifications, then those things will be astronomical like art because cars and watches are an expression of status.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So people want exclusivity. People want to be able to say, I have this and you can't get it. So people come to them and go like, oh, this is beautiful. Like, let's talk about it. So the rarer, the more expensive, as long as people want it.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So, yes, I mean, you can use safety box boxes. I know L.A. is a little bit difficult when it comes to watches and things because there's a lot of crime and death.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
so i mean first off i wouldn't tell you to walk around with a 300k watch if you didn't know where you were going or there was a risk that you could get robbed but you can do safety deposit boxes and banks when it comes to putting watches away for cars they are safe storage places that are primarily focused on storing uh exotics fine wine art etc and their car condos we call them that are usually available in every city or state or you can even buy like a very cool very cute warehouse
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
and very small warehouse in a good part of town, put a lot of security on it and end up actually tax deducting that in its own right, you know, as a business. But that's a whole story for another time. But the core of it is most major cities where these things are generally used and there's a large enough audience have things like car condos and safety box boxes where you can leverage for that.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And so we invented the bottom cash value formula, which is a formula that enables us to understand every single car in the market and which cars will actually have a stop in that depreciation based on time and will only depreciate based on miles and conditions, such as if you crash your car or not.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So my view on that is you always take the money as long as the it's the replacement cost is less than what the offer you're getting. So whenever I gauge like, should I sell what I have today? Am I going to miss it? Or am I getting maximum money?
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
I usually ask myself, if I was going to buy it myself today, knowing what I know that people don't know, could I buy it cheaper than this person is offering me?
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So if a jeweler came to me and said, hey, I'll give you $100,000 for your watch, and I'm like, hmm, but I can't really replace it for less than $110,000, and it would take a year, then I go, well, that's not really worth it because that offer is probably going to be on the table all the time.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
But if someone came and gave me $150,000 and said, hey, I'll give you like $130,000 because I really want it and I don't want to go look for it, then I'd be like, okay, well, I can replace it probably for $95,000 to $100,000. So I'm just going to go and get that deal done even if I don't replace it immediately. If I change my mind,
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
and I can't find it for 80 grand and really make that work, I can always buy it back for 100 and basically still make a profit today. Now, if it's a one-of-one, like I've sold a one-of-one Ferrari that I had that I designed that was baby blue that was like stunning and brought the world record for the most expensive Ferrari piece that sold ever.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So when I sold that car, it was a 101 and I regretted it. Then I bought it back again because the owner sold it to me. And I sold it again because I made 200 grand every time, like three times in a row. So I made 600 grand on the car. So I felt really good about it. I was like, oh, I made 600 grand on a car that was like 400 to begin with.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So the argument was, well, I made 600 grand, drove a car for a year and the car was 400. That's amazing, you know, but that car is irreplaceable. So if I was back when I sold it, I was in the position I'm today where I'm rich enough to say, I don't care. I'm going to keep all these cars forever. It doesn't even matter. I'll keep buying five cars every single six months.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Then I wouldn't have sold that car because that money had come every time I sold that car, meaning the value is probably going to stay the same no matter the mileage or the time because of its rarity.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And by identifying these cars, you're able to hop car to car, meaning one year, two years, three years, however you want. But you're able to ultimately buy a car or finance it however way you want. But once you put that money in the car, it doesn't actually depreciate.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Well, you will, and that's okay. You can drive it. The whole argument is this is a progressive training program to begin with, so we're not completely disconnected from the fact that people aren't buying Lamborghinis to flip them, and we're not telling people to flip them. Our program is designed for people to buy their car, enjoy their car for a whole year or two, and then get rid of the car.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
The argument is not that you're gonna flip the car for a profit. The argument is in the beginning stages, it's a wealth preservation strategy, not a wealth creation strategy. So we want you to get high off of your car. I want you to network with it. I want you to meet more people. I want you to become a better marketer of your business because of it.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
I want you to make more money and want a better Lamborghini next time. So when you upgrade, you didn't lose all the money in your car and then go to the next car. You just park that money, You drove your car, leveraged it. Now, the extra effects of having that on your life probably made you a lot more money than the car cost you to begin with.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
But then you take that money and you move it to the next car. And the argument is the 200K you paid for that Huracan is still in the Huracan. So when you go by the event door, well, you don't have 200K of that money that's not gone and depreciated. And you can buy a nicer car and you can drive that too. Like the argument is not that you should not use your car. You should collect it.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And it's the only way you make money. We, all of our programs specifically with every single exotic car teach you exactly which cars you can drive, how many miles. So it tells you like, Hey, if you have a Lamborghini, you can drive it 2000 miles. But if you have this Ferrari, you can probably drive it 5,000 miles. This Rolls Royce, you can drive it 7,000 miles.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So like, it's almost like re understanding how leasing works. except without the loss in the payment. You know, leases are pretty expensive, so they're just a huge scam. But the whole idea is that it's the same ideology where you know exactly what your loss is, and you also understand what mileage restrictions you could put on these cars. And you can choose.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Like, I have four different SUVs so I can switch between my cars, and that way it never really adds up terrible miles. But I drive the shit out of all my cars. So I drive all my Bugattis, crazy $3 million cars, and I don't care. But because I have 10, I can put mileage differently on each of them.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So even if you're making your payment, even if you're, let's say you can't afford to buy a quarter million dollar car cash, you're still paying your monthly payment like a normal payment. But at the end, when you go sell your car, you actually recoup that payment because it's not equity in the car.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And even if one loses, let's say I buy a $3 million car and lose 50 grand because I overdid the mileage, my other $3 million car will make me 200 grand. So it's like the offset of doing that. But as you get better in the game and obviously as you get richer in life generally, you make better money decisions because you understand that concept.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
you said something and i want you to look at this camera over here okay and explain why are leases a huge scam okay so leasing is a huge scam because you're buying the worst depreciating cycle of a car what that means is when you go do a lease they give you a down payment and they give you a monthly payment and they tell you that monthly payment can be taxed written off so it makes sense for you to buy that car
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
The problem is if you do the math on the down payment and all the fees you paid by the time you own the car and the mileage you put on, this will tell you that over the course of the three years, two years, or 12 months you own the car, you lost, for example, on a Lamborghini anywhere from 20, 30, 40, 50 grand, depending on what kind of car you bought. So think about that.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
You drove the car with limited number of miles, 2,000, 3,000 miles, whatever, over the course of three years, and you lost 50 grand no matter what. Now, at the time...
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
the actual car is bought back by lamborghini it's worth more so you turning in the car makes the car worth more today because of the mileage being low and on the used market the car only depreciated 10 percent his first year but your residual was like 30 percent less so You gave up all this money and the manufacturer remakes the money.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So basically they're guaranteeing volume out of cars by creating a bunch and they're putting them out in the market and you're buying the worst depreciation cycle disguised as a tax write-off and disguised as you don't really have an issue with any kind of like maintenance or repairs. So that's why you want to get a lease. Most cars today are made with Bosch parts.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Very few Lamborghinis break down, very few Ferraris break down if they're driven properly. So while most people believe exotic cars constantly deteriorate, depreciate, break down, that isn't true. And most real owners will tell you they can drive plenty of exotic cars without ever having an issue. But lease companies have worked very hard to disguise this idea that a tax write-off is better.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And you ultimately, the car itself hasn't actually depreciated from the purchase price that you actually bought it for.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And if you think about it, if you lose 50 grand in your write-off and that means you lost 30 grand instead, It still means you lost 30 grand. I will teach you to drive the exact same Lamborghini and lose five grand. So the argument is what's better that you didn't write off the five grand you lost or that you lost 50, you wrote it off and it ultimately netted you 30 loss.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So we teach real estate in a very different manner. We don't really teach real estate investing. There's people that are probably better at that than I do. I don't really look at it from a sense of like, which houses do you buy, create income or anything else?
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Because I'll tell you this, in the game of watches and cars, we make so much money off of such little capital and no leverage needed, no bank loans needed, no bank ties, no need to take out a $10 million loan to get out of that $20,000 a month in hopes of blah, blah, blah. We don't really think that's a viable strategy in wealth creation.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And we think that it was a viable strategy 10 years ago because these other alternative markets didn't exist as much. Where I think there's a huge opportunity for people to play in real estate no matter what. Like I'm a big proponent for owning your own home, owning your own office, like buying commercial and residential estate, as long as it has utility.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
which means that there's a lot of opportunities in buying commercial real estate where you can build a really good business out of it instead of just renting it out and leasing it out to someone else. I think taking on so much leverage to create such little income with so much problem in between if something happens is just too high of a risk when you have other alternative ways of making money.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So what we teach is how to select homes or commercial buildings in areas that are likely to have accelerated appreciation based on changes of demographic over the next, let's say, six or 12 or 24 months, and therefore putting you in a position where you can buy a building and ultimately let it keep going up in value, use it for your business, and then choose to get out of it.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Like I'll give you an example of my own unit. I bought myself an 18,000 square feet location in the middle of Boca Raton. And Boca Raton is a very hard place to find good locations for car storage and things like that. So I wanted a place to house my 35 car collection. And I was like, this is impossible to find here.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So it literally took me a year, but when I found the building for $5 million, I immediately bought it. I renovated for 500 grand, and I'm using it as my office. I have gotten probably about 15 to 20 offers to sell that building for $7 to $10 million within three weeks of moving in all the way to today because these type of buildings don't exist, meaning they're very hard to come by.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So it's almost the same thing with my personal house. So like I bought this 10,000 square feet house with a 10 car garage and no one has that anywhere. And it's brand new and it's like this crazy design building. So when you buy stuff that's really exclusive, hard to get and unique in nature, they typically target a very unique buyer. So it's not as generally exclusive.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So I know all those people really well. I actually bought one of Dan IM's previous cars. And I'm very close friends with Andy. And I also personally collect cars. So those collections not only don't depreciate, they actually appreciate. So that's like the tier level of the collector spectrum where you're buying cars that are so rare and exclusive, like I personally do.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
for everybody because it doesn't fit within like what the evaluation or the appraisals of a building are but if someone has a 35 car collection or a 20 car collection and they have nowhere to put it they're not so much looking at what will the bank appraise this building at they're like if i don't buy this building i don't have a building so that's what we teach people how to get ahead of that
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
so i think there's a couple of things there so i'm not a personally actually this is a good discussion because i'm not a huge charity guy either and i'll tell you a little bit about why i'm a big believer that you directly impact your community in the ways you can do your best and a lot of times people try to change that by donating money instead of actually participating and i think there's a lot of participation that can be done in every community globally
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
where participation, in my opinion, holds more weight than donation. So I think donation is a good form when you can lack participation, you don't have time to, and you want to support a cause. But generally speaking, I'm a big proponent for participation over donation.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
The easiest way to get more information if you want to just learn how to park assets instead of spend is to go to learnfrompj.com. Super easy place where all my books and courses are available for anyone that wants to learn. We've been teaching since 2007. Yeah, it's quite a long time. Most of my platforms have been around since then. A few new ones come in.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
We'll teach you everything from cars, watches, art, even travel, how to lower your cost with points correctly. But everything's at learnfrompj.com.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
That's not what I teach every day because that's a very small group of people. But you're buying cars so exclusive and specs configurations are hard to get models that they're immediately significantly in higher demand on the used market because most people can't get them on the market.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So that's a difference here because that's like, hey, I have all the money in the world and I'm just buying a ton of shit. But when you're normal and starting up, you usually look at your most people will will comfortably buy a Range Rover. They'll be like, oh, that's my luxury kind of like I bought myself a Range Rover, a really nice Volvo.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
For the price of that Range Rover, they could probably have a Lamborghini Urus or a Rolls Royce Cullinan. Those are cars that they don't think they can afford usually when they buy the Range Rover because they think in conventional mindset of if the payment is $1,000 a month on the Range Rover, it's $3,000 a month on the Cullinan. So therefore, I can't afford a Cullinan.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
That's like $2,000 of extra money. But it's not true, though, because even though you're spending $3,000 a month maybe for the Cullinan, if you're buying the right Cullinan, that money is still parked in the car. But that Range Rover will keep depreciating over your lease back down to basically a wash of 40, 50K after like three years of ownership.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
But that same Cullinan, which you could drive the exact same car, might cost you 15 grand over three years. But it's a Cullinan. So you got to drive a Rolls-Royce for less money than a Range Rover. Now, I wouldn't say you got to drive a Rolls-Royce for less money than like on the Civic.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
But if you're going to buy a Range Rover anyways, why not get a Lamborghini RS or Cullinan and save the money?
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So both. Like... The cars you mentioned earlier, those two people's specific collections, are filled with cars that are very exclusive in nature. So they're not just a Bugatti. They're like a carbon fiber Bugatti, which is like a full exposed carbon final edition like Super Sport is incredibly hard to get. And it should have been ordered like three years ago. It finally came in.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So it's a very unique type of clientele for these companies. And over time, these kind of levels, once they're reached, are just like there only needs to be 10 of us wanting that car. And there's only three of us that have it, right? So amongst the 10, we all know each other. So it's like, oh, you got this. I wish when you don't want it, call me. But so those cars are at that level.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
But generally speaking, like Ferrari has a list, obviously, for super VIP customers. And those cars are worth usually two to three X of what you're paying for them. Oh, really? Yeah, right as they come out, if those are the right cars. But sometimes there's also this misknowledge, which we teach our students not to fall for, that just because you walk in a dealership and a Ferrari dealer tells you
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Oh, that car has a list and you need to buy these other five cars before. That isn't necessarily true. That's just the game that Ferrari understands the common public believes to play. So they want to make their money. So they loop you into three, four, like average cars to sell you a decent car. But even that car would depreciate and wouldn't be the right car.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So Watch Training Academy is something different because watches have, like cars are what we call wealth preservation. So you can actually buy a car, preserve your money. And so buy a great car, enjoy a great lifestyle, not lose any money. And you don't have to rent it out. You don't have to create income or anything that has liability.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
On the other side, if you want to make money, we teach people basically to take watches and turn them into a profit center. So watches have huge amounts of margins. So if you're in any type of investing ideology or in real estate, the reason people like real estate is because the asset class is usually safe.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
You buy it, and over time, even if you make a bad mistake, it'll generally pay off, even if it's a 10-year return. Sure. But there's no liquidity to it. And it's very hard to constantly turn real estate unless, of course, you're in the business and you have capital and you're constantly like transacting on it. But you still have paperwork. You have to set up your LLCs.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
You have all your 1031 exchanges. So it's very different from the watch game, which is completely unregulated. It doesn't have any type of like paperwork associated with it. And it's the easiest thing to trade for margins that are anywhere from 20 to 30%. Some cases as high as 40% and can start as low as $2,000 a watch.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So we're also trained to think watches because they're exclusive and sold in boutiques are generally expensive. When you walk in a mall, you'll see a Hublot boutique and you'll see like a $20,000 watch. And you'll be like, wow, I got to work my way up to owning a $20,000 watch. What people don't know is that that Hublot is actually a $4,000 watch. Whoa. Exactly. $4,000 sold then for $20,000.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So even if there's a discount, it sells you for like 18, you think you've got a great deal of 16. But the real worth of that watch on the secondary market is four to five grand.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So could you technically find that watch on the secondary market for four to five grand if I told you where to get it, how to negotiate it, and then turn around and sell it for seven to eight grand to another guy that thought paying 20 grand was the easy way out?
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
It's basic arbitrage, right? But knowing which watches to buy, how to actually negotiate them down to the right price, and knowing which ones actually stay strong in value. So even if you can't sell it for six months, the value doesn't really go anywhere, is the key to learning how to make money with watches. And it's something that we have students doing this part-time.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
They're making $10,000 a month. We have other students doing this full-time, making $3 million a year doing it. Amazing. Yeah, and they don't have any watch knowledge, but they just understand which models to go after and what to do with it.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
I've seen you wear this for a long time. You've had this for a really long time.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Huge, right? Especially on diamonds. Exactly. Yeah, exactly. I mean, the diamond market has taken a tank recently because of all the fake diamonds, the lab-grown diamonds, not the fake ones.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And it's the same thing with watches. And a lot of people don't realize that. Like even major manufacturer of watches, their costs on the inventory they're selling to the boutiques, like Cartier watches are 30 cents on the dollar.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
But people, how many people go in and buy Cartier watches for their wives, for their girlfriends, whatever. And they think they're like, oh my God, like I got a great deal. I got 10% off on a new watch. That watch that was 10 grand of Cartier, 30 grand of Cartier only cost 30 cents for that manufacturer. Then they sold it to the store to 50 cents and the store made 50 cents in margin.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So that's what they make their money plus tax, whatever. But when they're on the used market, they cost less than 50 cents on dollar. So, and they're brand new. So there's just like leftover and there's not sold at the store. And a lot of people think, well, what if I buy it from a third party and it's not real or it's fake, but it doesn't work that way anymore.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
There's so many authorized and really reliable jewelers in the world that are selling secondary watches and they're real and they're not like issue. They have the same paperwork, the same warranties, the same everything. And they're just sold at 50 cents on dollar.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Well, I appreciate you having me on. And real short, I am the ultimate guy when it comes to alternative assets, cars, watches, art, handbags, and everything else that comes with investing or putting money or parking money, I should say, in those things. So the world has been conditioned to think they can basically...
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Zero. So the reason we started this was because we realized people want luxuries. Sure. Like this, it wasn't about teaching people how to start jewelry stores. Like I could care less for that. That's a real business. It requires all the logistics, the licensing, this, none of that. Yeah. None of that stuff. The point was, if you're a normal human being, you'll technically aspire to make money.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
They're listening to Money Mondays. They want to make money. The point is, if you learn to make money, typically you want to make money because you want to improve your lifestyle. First, you improve your house. Then you improve your car. Then you tend to indulge in travel, luxuries, etc.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
My argument has always been, no matter who you are, if you aspire to do great things, you're going to legitimately end up in a position to buy great things. And when you buy them, there's only two ways you buy them.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Either you buy them in a fashion that allows you to keep buying them without losing money, and in many cases, turning even your hobbies or things you want into a money center, or you end up creating expenses all the time, And ultimately these expenses never come back and you have to keep making even more money to keep upgrading your lifestyle.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So we all know that even our dream car is only our dream car for a very short period of time. Like we know that there's another car we'll want more. We know when there's a cool watch we like, there's a better watch we'll eventually want more or a second one. So the argument is, you know you're going to divorce these things anyways. They're not there to be loved forever.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
So when you buy them, buy them in a manner that allows you to make money off of them when you get rid of them, instead of actually lose money every time you do it. This is one of the key things that athletes don't learn. Because if you think about someone who doesn't have money training, typically comes into the game. The first thing they go, I got $100 million. I got to buy cars.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
I got to buy this. What if they bought these cars, right? And at some point they said, oh man, I overspent. I need to get my money back out of the car. And instead of saying I paid 600K for a car, I got 300K back. They said I paid 550 for a car. I got 540K back.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
Right. So it's like, okay, so I made a mistake. I shouldn't have bought that car. Maybe I over... But I didn't lose that money. It was just sitting there in the right car. And I didn't want it now. You know, for any reason, like I only need two cars instead of 10. It is what it is. So... We have been brainwashed as a society to think clearly that our job is to make money. So we spend money.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
And one of the things we've been teaching people since 2010 is you don't need to spend money to have lifestyle. You can learn to park money. And while you can't park money and travel because it's or in food, like if you go to restaurants, money's gone.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
At the very least, the largest purchases you make, like your home, your car and your jewelry, and even the handbags you buy for your wife, your girlfriend or whatever, Or for yourself, those things can be places you park money and recycle that money over time. And people really, this is the interesting thing then, like people know this already when it comes to housing.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
There's not one person that buys a piece of real estate thinking it's a bad purchase, like I'll never get my money back. There are people who overspend on real estate, but they'll never think like buying a house is a disaster, like why did I buy a house? It's stupid.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
buy things and they have to make a ton of money to keep wasting their money buying luxuries. But I teach people in and out how to actually park their money in luxuries and live much better lifestyles than they ever thought possible without actually wasting or spending their money, but rather parking it. And so I have a huge background in finance.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
they'll say oh well in a couple of years if i don't like it i'll upgrade it or get rid of it whatever get my money back but they don't learn to think that way when it comes to luxuries because society has brainwashed us to think that all luxuries are basically expenditures and you're throwing your money away but there has been especially post covid a significant shift
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
in the amount of luxury goods in the marketplace. Like there's a ton more Lamborghinis today than there were 10 years ago. Ton more Rolexes on people's hands than there were before. And the key areas like California, Florida, Texas, and these large states where people are like, business is booming, et cetera, people are spending money.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
right and and that's great you should want that you should want to aspire to make more money so you can live a better lifestyle but the argument is why not learn to actually not we're never saying someone don't buy these things like they're bad things they're amazing everyone should experience what it's like to wear 100k watch everyone should experience what it's like to drive a half a million dollar car but what if you could experience it and it didn't have to be a financial burden
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
That's the difference. And while it sounds really good to be true and people are like, well, you got to learn how to really sell cars and buy cars and be a dealer, you really don't. Like this world exists and because people are so alienated from it, they assume it's not for them or they're going to have to pay cash or go and work really hard or it's a bad expense.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
But it's really not like I mean, look, there are kids out there who know nothing about watches making 700, 800K part time from their houses, trading five to 15 watches a month.
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
okay like what i'm saying is let's assume someone's like it's amazing exactly it's an amazing i mean 800 grand is a lot of money you know even 300 grand is a lot of money let's not even use big numbers 10 grand a month is a lot of money for sure it depends on what your aspirations are but if you have a normal job and you're working at a coffee shop or something and you have 1500 saved you can literally take that 1500 buy your first watch let it grow into its own thing similar to a trade you would do in the stock market except the difference is the stock can disappear to nothing
The Money Mondays
Why Buying a Lamborghini Could Be Smarter Than Saving Money w/ Pejman Ghadimi 💎 E122
and it can just keep going down and you don't even understand what's happening. But a watch is on your wrist. So it's opening doors as you meet people, you're getting into new peer groups, and you're making the same money you would in the market. And it's easier to trade in and out of without having to wait for bumps and dumps and anything else.