Today’s topic is all about What Cars Am I Flipping for Profit?
I’m going to show you cars that I am trying to work on and looking at right now. Let me tell you a story that some of you probably already know. Jay Leno used to flip cars for profit, and now he’s a collector of cars, which is what I’m trying to get into now. I’m still Flipping for Profit but I also want to be a collector.
He bought one of the original McLarens about 20 years ago. It was selling for a million dollars and got it for $800,000. Within that decade, the car got appraised for $4.5 million.
I don’t think he sold it, it’s probably part of his collection. But, he said it’s the best and fastest money-making investment that he has done. Jay Leno is worth about $3 to $4 million dollars now.
I am looking to do the same thing. What I’m looking for a good deal on a Honda S2000 with very low mileage. Check out the video as I share my screen.
I’m looking for a 2002 model because that’s when they replaced the back from plastic to glass. All these deals that I’m showing you right now have high mileage.
If you can one of these and sit on one, I guarantee that you’re going to end up with a nice collectable and it’s going to appreciate in value.
This deal over here is the best one compared to the rest. It’s $14,500 and offered him $13,500. He’s willing to take it for $14,000 and I’m literally on the fence to buying it.
Check out the pictures in the video. It’s clean with only 34,000 miles on it. The car is 14 years old, but it has very low mileage and original owner.
The car has an awesome interior and the color, which is Suzuka Blue, is very nice. Another think which I love about this car is it comes with original hard top and the regular convertible.
The hard top is a $3000 option. The other S2000 models that I see here does not have a hard top. This is very hard to find.
I know that the $14,000 is a deal, but shipping will cost me another $800, so I’m in it for about $15,000.
The only thing that I would probably do to it is to put the original front lip and a little spoiler at the back. They make the car look really nice.
The only thing that’s keeping me from buying it is getting it on time. I’m leaving for Mexico on Friday and it has to be shipped over from Virginia, which will probably take a week to have them get the car and ship it over to my place.
The only time I saw the same one in Texas was about a year ago. It had 26,000 miles on it. The owner was a school teacher and said it sit mostly in her garage.
She was asking $14,500 and offered her $13,500 cash and she agreed. I thought about it overnight. The next day I called her and she said it was sold.
If really feel that it’s a deal, you need to jump on it and scoop it up. I’m really surprised that this car here isn’t scooped up yet. You can keep this car for a couple of months and sell it for $17,000 with the hard top.
I really think this Honda S2000 will be like the ’57 Corvette in 40 years. By that time, this car will be worth a lot of money. That’s what I predict anyway.
I also found a ’99 Mazda Miata limited edition on Craigslist. It has a little 10-year anniversary badge on it. The owner didn’t know what it’s worth and was selling it for $5500, when it should have been for $8500 to $9000.
The car had a little high mileage at 80,000 miles on it, but it’s not that bad, especially if plan on keeping it and having fun with it. When you inspect cars always remember two things: Condition of the car and mileage.
Always remember that a 20-year car is a classic, 25-year car is an antique. A collectable car is anything that media dictates it would be in time.
Odd cars are collectable as well. Believe it or not, the Pontiac Aztek is a collectable. I’m a little picky nowadays. I want to store some of my money in cars and collect them. That’s the reason why I bought the BMW Z3M.
Question: Have you sold your Japanese Mini truck?
I’m not going to sell it. They’re very rare. I’m going to make it look cool and restore it. If somebody will offer me a pretty good deal, I may sell it. They’re selling it locally for about $8000 to $10,000. I’m in it for close to $5000.
Question: I see a lot of cars on Craigslist like Ford Explorers, Jeep Cherokee and VWs. Do you think these cars are worth the time to buy and sell?
You need to check your local market. Do you see a lot of people driving these cars? Are they popular? If they are, it might be worth for you to look in to get a good deal of one of those.
On Craigslist, type the car model and check how many ads come up and how much they are selling for. That’s how you do your market research.
I show you all of these step-by-step strategies on the F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars VIP Program. You’ll learn how to find the best deals, how to market your car and write up a good ad. You get all important details that you need to know to be Flipping for Profit.
Question: Do you recommend CarGurus?
I think it’s a good way to put your car up for sale to get a lot of exposure and get higher prices. You’ll get a national audience from CarGurus, which is good.
It’s Tony from F1 AutoCashFormula. If you are brand new and interested Flipping for Profit, grab my FREE Report. It’s a great way to have immediate side income.
I hope you enjoyed the show. Join me next week, Wednesday at 9pm Eastern. Please Like, Share and Subscribe to my videos.
Cheers!
Tony
Other Helpful Links:
Finding Used Cars On Craigslist (Master This Skill and NEVER Go Hungry!)
How Many Cars Can You Buy And Sell for Profit?
How To Buy And Sell Cars – Craiglist Tips and Collectables
How To Build Wealth By Buying and Selling Cars
HOW FAST Can You Flip a Car for Profit? – The Time-Frame of A Car Deal