Flashpoint : The dude who made the awful movie “Redline” ran a subprime mortgage lending operation that rejected people with a score 425 or higher. Cosmic justice?

During 2004 – 2006, I was involved in the subprime housing market. Alot of the LO’s doing the job didn’t realize what was going on on wall street and how the market would ultimately implode.

Back then, anyone dealing in real estate could get rich very quickly.

A 24 year old kid for example bought 8 houses (lying on his 1003’s) and shorted the equity from each which made him a milli in less than a month.

I worked in a business where the average LO made over $7000 a month. In the month of December 2005, my friend cleared $15,000.

NEW MONEY people have found ways to make lots of money quickly. The challenege is saving it and making it work for you. Most super rich people aren’t going to drive a luxury saloon like this. They are usually used as limos.

Yes Rolls Royces are a PRESTIGE brand wherever you take them, but these cities are so poor (with the average person making far less than $20,000 per year) that you could have virtiually any big body German or American car and be a “big shot” there.

An S550. A Cadillac Escalade. A 7 series, etc.

Rolls Royces are shockingly awesome here in NYC Manhattan (as well as everywhere else). I saw a Phantom Drophead coupe for the first time 2 weeks ago and was stunned. The pics don’t do it justice. I was equally stunned seeing a Maybach 57 in traffic next to me.

I’m not sure why, but there is something touching about seeing an item that has tremendous percieved value, even if that value is all relative.

Keep in mind, China is a very poor country. They have over 1.3 Billion people, but less than 1/10 of them are living as rich as our average talk show host. That wealth is concentrated in Beijing, Shanghai and Hong Kong on the mainland – and Taiwan overseas. The rest of the country is shocking poverty. Desert, people living in caves, people eating dirty food and living on agrarian diets.

Yes China is getting better over time due to the communist totalitarian government pushing for advances in living conditions, but they have a LONG way to go.

“Four legs good, two legs better”

That is between 5 dealerships which equates to on average 202 car per dealer per year or just under 17 cars per month per dealer.

That’s better than many GM dealers in the USDM right now.

Sheesh, new money…

They sold 1010 in the world. They sold 70 in China in 2007.

That is between 5 dealerships which equates to on average 202 car per dealer per year or just under 17 cars per month per dealer.

If this babies are selling for about $400,000 each on average in China, a dealer that is moving 17 Rolls a month is generating revnues of about $6,500,000 to $6,800,000 each month and I am guessing about &1,000,000 in profit.

Not bad if you ask me!

Oh, and I’m not sure we can use the term “pistonhead” to describe a Rolls buyer, really.
More like “image-obsessed”.