School Me In "Flipping" Cars

[CENTURION]

So if one was to do this legitimately, what would be the proper channels to go through in California?

[benge100]

ok, I will chime in here,

I am British, sold my marble/Granite business for some good $ when I came here 12 yrs ago, took a couple of years playing golf etc in SOCal. Got my Real Estate License and made a bunch of money but didnt really enjoy it. Tried mortgage banking and made even more money but liked it even less.

when things turned sour in RE I decided to get my car license, I have loved every minute since, I have had my own lot, I have wholesaled on my own money, I have had a large floor plan with a bank and have worked as manager/sales/General Manager for franchise dealers.

I currently have my dream job, I broker for a very successful company with no limitation on what I buy, I buy between 30-40 late model BMW, Porsche , Mercedes etc per month, I have a good lifestyle an love what I do.

I started out "curb-stoning" or "skip titling" or whatever, in the short term you can do it, a couple of times year but if you love it and you are good at why not make it your life. ?

[Das Delfin]

Time to start watching more Wheeler Dealers!

For real though

"I got 500 quid in me pocket roight now with your name on it! Just say the word and let's make a deal!"

[agent]

Maybe you need to be Edd and let someone else be Mike.

[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

[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]

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]

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.

[rcsoundn1]

post buy price after sale?

[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....

[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.

[Zreberlcoe]

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

[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

[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.

[IronFreak]

Best way I know how to explain it.