if that is the extent of your knowledge, flipping cars would be a terrible idea. really just a good way to waste your money.
if you live with ur parents then u dont have to pay for rent or food there for you make more money.. duh.. the dudes in highschool anyways
Exactly like I said. Not making bank. If you are at home with mom and dad, you dont have to pay for shit. So the puny amount of cash he is making would be gone in 2 weeks if he was at any way involved in the real world.
First, you must know how to fix most mechanical problems, or know a good mechanic who will do it cheap. If not, it's going to be more expensive than you could dream. Also, stick to mainly reliability/mpg upgrades. They will be MUCH better selling points. For example, get a used truck, put an exhaust system and upgraded air intake, and it will boost mpg, sound great, and sell fast. Buy a Mustang, do the same, and add a turbo charger and flip it for a profit. My first flip was a 3.5l Dodge Charger. It was my own driver. Put 20k miles on it after I bought it, buffed the car, washed the cloth interior, threw on a supercharger for a GREAT boost in power. Along with the existing flowmaster and K&N filter, it was a quick sell. Put $13k total, flipped it for $15k after using it for 2 years.
I just bought a rx7 for 1200 then a guy at a gas station offers me 1900$ so I bought another rx7 with that lol but same concept
I have also thought of flipping motorcycles. This in theory would not require as much wrench turning. Buy the bikes in the dead of winter for a reduced price and sell them in the spring time. You would have to know the going craigslsit prices people are actually paying so you know how much meat is on the bone.
My son does this. He's 17 years old. He has a knack for finding good deals on craigslist. According to him, the economy cars in good or better condition that you can sell between $2,000 and $4,000 are the fast easy movers. He has had cars worth $6,000 - $7,000 that he made good money on, but it took way too long to get what he wanted for them. His last "big profit" was a 2000 Camaro, LT1, Auto, T-top, new tires, 80k miles, one owner, garaged, excellent condition interior/exterior. The guy was divorced, had to get rid of it, was asking $3000. Car would not start. My son got it for $1700, had to replace the ignition lock/cylinder($150 with smart keys from dealership), and a crank shaft sensor ($50 from Autozone). At first he was asking $7,400, and 4 months later took $6,400. The trick was finding someone who wanted "that" car. Many people tried to buy it, but their money didn't come through for whatever reason. The one before that was a 01' Volvo s40, loaded. The turbo grenaded and put a hole in the block, but other than that the car was immaculate. He gave $1000 for the car, found a motor w/turbo on ebay for $1100 shipped to our front door. Oil, filter, and 1 CV boot later and he let it go for $6,500 6 months later. After months of showing the car, some chick who didn't have all the money, but her dad would loan her the rest, was begging him to sell her the car. Around here, it seems people are looking for decent economic transportation in the $2k - $4k price range. That makes it hard to find something to sell for quick profit. Most of them are either beat up or priced at just about what you can sell them for. Any more than that and it just takes too long to sift through all the "looky-loo's" to come up with cash in pocket. Deals are out there. You just gotta seek them out and have the cash ready when you find one.
18 years ago I bought my first car to flip, a 1990 Eagle Talon with a smashed fender. I bought a junkyard fender and painted it in my garage along with some light bodywork (I was also a pretty good mechanic). Two weeks later I sold the car for a $2500 profit. I quit my bartending job and just started buying cars with open titles (not legal) and sold 76 cars in a year. Long story short, I hooked up with a new dealer, became a partner, split up 5 years later and bought my own warehouse dealership that held about 40 cars. Worked out great until the economy finally crashed hard in 08 where I struggled for 3 long years till I got colon cancer and lost it all. It was a good run and well worth the risks, but now I just fix cars in my garage and vap weed all day... and the cancer is gone .
I just bought a house and it has a HUGE garage. It has 2 garage doors but fits 2 cars deep on each side. I want to do what the above guy does. Fix cars in my garage and vape weed
What makes my life the easiest is the lift I installed in my garage. I do all undercarriage work sitting on an adjustable office chair that slightly reclines. If I had to work on my back or knees all day, it wouldn't be fun anymore
I flip cars on a regular basis as well as boats bikes and anything I can make money on. I dont typically put the cars in my names I just get the previous owners to sign it and post it up on craigslist. I have a diesel truck on there right now as well as a kayak and just sold a civic. It is nice to have it as extra money but woudnt depend on it. Where I am currently living I seem to get mostly trade offers. But hey eveything has a price sell it