Today on The Wealth Secrets Podcast, Sean Adams talks to Andrew Mastin, the co-founder of @LBI Limited, a rare and exotic car brokerage firm. They talk about why classic cars are a valuable asset, where to find classic cars, and how you can make money by investing in rare and exotic cars.

[02:15] Andrew’s Journey into Entrepreneurship

[14:52] How to Balance Your Passion and Your Profession

[17:44] Why Classic Cars are Considered an Asset

[22:55] Defining an Investment Vehicle

[24:36] Factors That Drive Value in Classic Cars

[29:08] How to Get Into The Classic Cars Business

[34:35] Where to Find Classic Cars

[39:30] How Andrew and His Company Close Deals

[42:50] Andrew’s Take on Where The Market Is Headed

How to Mix Passion and Business

What started as a hobby quickly grew into a passion, and before Andrew knew it, he was living off of classic cars, and that’s where it gets tricky. Balancing between passion and professionalism can be overwhelming because you have to factor in the emotions. The people who know how to integrate their passions into a business almost always end up being successful. And if you can’t, you can always seek counsel from financial advisors before investing in something.

Why Classic Cars Are Considered an Asset

After the market collapse of 2008, many people realized that investing in intangible assets, such as stocks, is a precarious business. With that, investors took to other forms of investment that saw a boom in other asset classes, namely real estate and classic cars. This is because people started seeing the value of tangible assets that can attract value in any part of the world and require little to no expertise.

Where To Find Classic Cars

The easiest way to land classic cars is by being curious. Whenever you’re driving through the neighborhood or on your morning commute, take a look out the window and into driveways and garages. If you see something exciting, knock on the door and ask if you can take a look at it. Car enthusiasts rarely sell, but once in a while, you’ll land deals that are too sweet to resist.

Links and Resources

Andrew & LBI Limited's Website

@LBI Limited on Instagram

Andrew's YouTube Channel 

Connect With Sean:

Facebook: https://www.facebook.com/profile.php?id=100060279543976

LinkedIn: https://www.linkedin.com/in/leveraged-life/

Instagram: https://www.instagram.com/sean_adams103/

Youtube: https://www.youtube.com/channel/UC0i91Q-fFy70LkaFxvfnGpg

For more videos and resources, visit leveraged-life.com. Do you have questions and feedback? Get in touch with Sean Adams through his email: [email protected].

All shared information from the Wealth Secrets Podcast should not be taken as legal or financial advice. Please consult with a professional before making any decisions. SYNC