Today’s topic is Flipping Cars for Profit and Working Your Way To Nicer Cars!
I am back! What is going on?! Merry Christmas everyone! Just a few days before Christmas! Who’s getting some cool stuff for their kids? Check out Mayah’s Christmas wish (She’s into Science and she has a really cool idea!)
I sold my first car for profit when I was 15 years old. My stepfather let me paint his 1989 2-door Honda Accord. He said whatever he sold it for, I can keep half of the money. He was buying a brand new Honda Passport at that time.
I started with a $35 Honda Civic Wagon. I was about 19 years old. This is when I really started and getting into buying and selling cars. This was my first auction experience.
I took a quick paint on it and the next day it was done. I put it up on the local buy and sell ads for $35 in Hawaii. There was no Craigslist back then. I had it in for $1650 OBO. The military guy who came and looked at it gave me $1500 cash. I basically made around $1300. That’s when I really got into the game.
I went back to the auction and bought two cars and rolled the money. A few months later, I bought a 1994 BMW 328is, put a BMW M body kit on it. That came out super nice and sold it for $10,000.
The idea here is, once you get into this, start with a $2000 beater car. You sell the car and reinvest in and get a $4000-$5000 car. You keep rolling it. As you move on, you’ll be driving nicer cars and eventually earn more profit. You could basically upgrade and start to feel good about what you’re doing.
Feedback: I made a week’s paycheck for flipping one car.
That is awesome! You need to hunt on Craigslist two to three times a day to look for deals. Once you get a little polished up and have more experience, you can go out to the auctions to bid and buy.
There’s nothing wrong with going to auctions but I recommend it when you’re more experienced because you’ll know a good deal if you see one. Plus, you can control emotions and know better not to bid too much on a deal. If you get into bidding wars, you drive the prices up and miss the opportunity to make profit.
Here’s my shop and take a look at my two projects, the Mazda Miata and BMW. I still have to work on my Mazda Miata and change up the colors of my mirrors to black.
I don’t flip as many cars like I used to nowadays because this is now a part-time gig for me. In my prime in flipping cars, I was profiting $10,000 to $12,000 a month. I was doing it with around 5 to 6 cars a month.
Question: Do you need a dealer’s license?
Yes and no. You can do things differently if you want to. It’s all up to you. Grab your FREE Report to have more information in flipping cars for profit. You’ll learn more about the strategies that I use to be successful in doing this.
If you want to know more about dealer licensing, read more about it on GetYourDealersLicense.
Do you guys want to know what I plan to get as my next car? This is more of a personal luxury for me. I was actually thinking of getting a Lambo. But, my wife was like, “Another 2-door?” since I already have 2-door convertibles.
If I get a Lambo, it’s the exact same thing. So, I’ve decided to get a Mercedes Benz AMG G-Wagon. It’s going to be pimped. I’ve always liked those. I’ll document everything when I get it.
I’m on Craigslist and eBay, hunting the entire country right now for the right deal. I’m trying to steal the deal right now. It’s not going to be easy getting a great deal on this one, but I’m looking to spend no more than $60,000, used car of course and under 50,000 miles. I’m not buying a new one, hell no!
I’ll keep you posted and document the entire thing. If you want to learn more about flipping cars for profit, check out the F1 AutoCashFormula 2.0 Program. I share with you all of my strategies, you have training videos and manuals that you can reference too.
It’s Tony from F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars. I hope you enjoyed this week’s live stream. I’m super excited to be back! Thank you again for joining me! Don’t forget to come back next Tuesday at 9pm Eastern.
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Talk soon! Cheers!
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