Quote:
Originally Posted by 5pecialist
I'm calling bullshit on all these car-sale-for-profit stories.
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Don't know if you're being sarcastic or not, but there's no bullshit about it.
So many people do it. There's good money in it. Thing is, you have to be
GOOD at it.
Too many people think buying junk cars(stupid cheap) and flipping them is good money. It's not. Nobody wants a junk car.
You have to know your way around cars. Give them tune ups, clean the exterior/interior, detail it and make it look presentable. When I was in the market for a G20, I saw some of the shittiest condition ones I had ever seen. Trash all over the carpet, caked on brake dust on the wheels, exterior in piss poor shape, etc. If you can't detail a car yourself, pay someone to do it. There's plenty of shops/mobile shops that do this. Making a car look presentable can easily raise your profit another grand or two (depending on what the car is actually worth).
Buy cars that are easy sales. People really want affordable, low maintenance, great-on-gas cars. There's TONS of 4-door, 4-cylinder cars to be had cheap. Auctions, craigslist, forums, etc. Stay away from salvage titled cars. That alone will force you to drop the price a couple hundred/thousand.
Also, buy cars that are currently popular. 240's aren't the greatest investments (unless modified with GOOD parts). Once the money starts rolling in, you can start buying some of the more expensive cars and make a higher profit.
This is obviously not for everybody. There's no "get rich quick" scheme in this. If you really want something, you have to work for it.
As mentioned above, I know plenty of people who do this on the side while working full time jobs. Flipping just 2-3 cars a month will easily net you over $5-6,000 if done right. Hell, if you did one a month, that alone is extra cash you didn't have before.
Yes, buying/flipping cars does require you to have some cash saved up and some free parking space, but if done properly, you can easily turn the $2-3,000 you "invested" into $20-30,000 in a couple of months.