School Me In "Flipping" Cars

[bmw325_num99]

If you do decide to do it, try to avoid your instinct as a car lover and fix things about the car. This is often wasted money and time that wont get you a positive net return. Yes, replacing the missing ashtray/repainting the scratched bumper and finding a set of good wheels and tires might help sell the car faster but depending on the clientele and car type, it might not be worth it. Keep good records of what you spend and make sure you arent basically giving this stuff away for "Free" when you sell them with the car.

Are you in it for the long haul for low volume and big margins with free storage space and patience? If so, I would be thinking rare, high end cars which could mean either expensive (m3s) or not (manual 928s, for example).

Or are you wanting to keep a frequent cash flow? If so, think Hondas and cars that just about anyone would at least consider buying.

[pandaboo911]

Don't be a douche and title skip. Flip cars that have potential to be flipped, aka you got it for a steal. not every second car you find.

[Das Delfin]

to flip a car, you'd want to either hard corner at freeway speeds, or go off a ramp on just the drivers or passenger side wheels

[rcsoundn1]

I flipped cars in college as well. But I was working at a Ford dealer, so I had some cheap resources to get the cars. I would usually register them, drive them, fix what was most important, then sell them. I bought cheap, and knew what they were worth.

[IronFreak]

Best way I know how to explain it.

[BraveUlysses]

The "benefit" of open title is passing the sales tax on to whomever registers the car. And you skip the DMV altogether.

Also called 'curbstoning' but you have to be careful because some states monitor how many cars you buy and will come after you if they think you're doing this kind of stuff. Washington tries to prevent this kind of thing by adding registration penalty fees if you don't register the car within 15 business days of the seller reporting the car being sold--so you could be hard pressed to fix it fast enough and get it sold.

[ELVA164]

to roll a car, you'd want to either hard corner at freeway speeds, or go off a ramp on just the drivers or passenger side wheels

ftfy

[Zreberlcoe]

alright, I think I'm going for it! I'll post my first contestant :D

[bmw325_num99]

alright, I think I'm going for it! I'll post my first contestant :D

Ill love to follow this, best of luck! I will be rooting for you.

[ethrty]

alright, I think I'm going for it! I'll post my first contestant :D

oh yeah... you dont want to be posting your buy price or telling people..... word will get around....

[rcsoundn1]

post buy price after sale?

[Klug]

Just stay away from the cheap BMW's (Ahem- ALL e32's especially 750's)

I've done a few flips- (2) e30's and a Nissan Hardbody. I made profit on all three. As stated above- don't sweat on the little things. Like buttons, window regulators etc etc- odds and ends, since it really won't help out the value of the car.

Get it running, fix the important maintenance items, do some heavy buffing, polishing and waxing and you'll be well on your way.

Might need to learn how to be a good negotiator and realise that the price you might be asking is high and have the patience to sit on it for a while until you get what you are happy with.

[Zreberlcoe]

Might need to learn how to be a good negotiator and realise that the price you might be asking is high and have the patience to sit on it for a while until you get what you are happy with.

I do lack that quality, I'm not very good at speaking in general. I cave in easily.

[Klug]

I do lack that quality, I'm not very good at speaking in general. I cave in easily.

Time to start watching more Wheeler Dealers!

[Zreberlcoe]

Time to start watching more Wheeler Dealers!

Haha that's actually the show that got me thinking about doing it, I then perused Craigslist.


Zack Eberl-Coe