This is an interactive training. I hope you enjoy the show! Today we’re going to talk about Flipping Cars? You make money on the buy!
We are on time! It’s 9pm Eastern and 8pm Central. Welcome to the flipping cars for profit channel. I want to make it exciting for you and put some golden nuggets and gems to take with you and put to work for you tomorrow when you go out and start hunting for deals.
Okay, let’s make a quick location shout out!
Dallas, Texas … Austin … Iowa … Pennsylvania … Louisiana … Miami, Florida
You guys are awesome! I’m seeing a lot of regulars here. If you’re a first timer on my show, don’t forget that we have this live stream every Wednesday, 9pm Eastern.
How many of you like the headline of this live stream? I remember I read a book by Donald Trump, it’s called, “The Art of the Deal” which was published in the ‘80s. He always stresses that you make money on the buy not on the sale. He was talking about real estate.
I brought that idea in here because it’s the same exact mentality that you want to use when you buy and sell cars for profit.
If you secure a good deal, you’re always going to make money. You don’t have to worry about selling it because you know you’re going to have a buyer, even if you have to blow it out the door at a cheap price, you’ll still have a buyer. That’s when you know you made a good deal.
When you got the deal, you don’t have to worry because it’s money in the bank. That’s how I buy. That’s how you have to learn how to buy and search for deals.
You may not find the deal right away. It may take you a week, two weeks or even three weeks. On the third week, you may run into one, two, three or four deals. Back to back. That’s happened to me many times.
You just need to have the capital, the cash or the investor capital to have the money available so you can get the deal. Then, you’re in business and keep searching for deals.
Maybe in the next week you’ll find another one or maybe it will take you another two weeks to find another. But you don’t have to worry because you have these cars sitting on and that’s money in the bank.
You can wait a couple of weeks to sell one because you still have other cars in inventory, which you’ve put up an ad for. This is another important thing that I can’t stress enough on. How to structure your ads when you’re selling cars.
Apart from securing a good deal, is getting ads so good in a video combination that gets buyer interested, especially if you know you have a good deal and priced competitively and you know you’re still making money on it.
Then again, it’s all your preference. What is your business model? Do you want to move fast and rotate which is what how I like to move.
I have this quote, “Money love speed.” The faster you get things done, the quicker things are going to roll. Or, you can just sit on them longer, sell less cars. This was my dad’s model. Ask top price and somebody will buy it.
My dad will probably sit on a car for a month or two and sometimes six months. I remember he was trying to sell his restored ’54 Chevy. I think he was sitting on it for like a year.
I asked him to sell it for like $15,000 and he said, “It’s worth $18,000 and I won’t take less than that.”
One day, he sold his house and moved to an apartment. He was narrowing down and was retiring, he had the Chevy parked outside with a “For Sale” sign on it and priced at $18,500. A lady walked by, saw it and bought it. She said her husband had one of these when he was younger and she wanted the car for her husband.
It took a while but he didn’t mind because he drove it on the weekends and people honked at him and gave him the looks.
Again, as long as you buy right, you don’t have to worry about selling it because there will always be a buyer.
Recently, I haven’t been flipping much because I’ve been traveling a lot. I bought and sold a car in Mexico while I was there a couple of months ago. I may be going back there soon.
I bought a car here in Japan and had it shipped to Dallas. I may be coming back here in the next six months or so and may be buying a car here to use.
I’ll document the process of how it is buying a car in Japan. The cars here are very different. People drive on the left side of the road. It’s different. I think it’s like Australia and New Zealand.
I’ve been taking some awesome footage here in Japan. I just have to give it to my video guy so he can make a cool video for you and put it up here soon.
Question: What car did you buy and sell in Mexico?
I had a little Chevy Cobalt which I bought and sold. I also have a Toyota Camry which I still have there in Mexico.
The cars in Mexico are really crappy when you’re buying in the two to three thousand price range because people in Mexico beat the hell out of the cars. They don’t take care of their cars. 90% of the cars that I was looking at in Mexico had interiors that were ugly, beat and stink badly. I don’t want to insult anybody. I’m just speaking from my experience.
You don’t get really good cars if you’re looking at that price range. You have to get cars that are around $5,000 and up to get a decent looking car. That’s a lot of pesos, if you’re compare it. Right now, the conversion is $1 to 18.50 Pesos.
I love the Mexican people. They’re really nice people, but then in all cultures and in all nationalities, you’ll get good people and not so good people.
When I go to Mexico, they think I’m Mexican. Everybody speaks to me in Spanish. I don’t speak Spanish … “Yo hablo muy poco español.”
I could probably speak Spanish when I order something at a restaurant and that’s pretty much it.
Feedback: I was in Okinawa for two and a half years.
My mother was from Okinawa! Believe it or not, I have Okinawan blood. I was in Okinawa when I was a kid but I haven’t been there for twenty years, but I really want to go there. Probably when I get back to Japan.
My dad is born and raised in New York and moved to Hawaii because that’s the furthest place to get away from his ex-wife. My mom moved to Hawaii from Okinawa and they met up and had me in 1982.
It seemed like a military marriage – my Okinawan mom and my New York Italian dad, who could have been a marine (LOL!)
We kind of talked earlier about getting the deals and the mindset that we should be in. Once you got the deal, it’s then all about structuring the ad and selling it. I cover all of these in-depth within the F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars Course, so check out the VIP program now.
Let’s get into live Q&A now and get into your questions.
Question: What’s better, buying from auctions or off the street?
If you’re just getting started, I urge you to buy off the street. It’s easier because you can inspect the cars thoroughly and negotiate with owner, pay cash and get it done.
You need to be a little bit more experienced when buying at auctions. They don’t give you viewing time or inspection time like they used to. They used to let you go into the auction area, go out on the field and look into the car.
You have to be careful in auctions because most of the time, the insiders will pull cars to the side for themselves to get the good deals and leave the scrap for the rest. Unless you’re connected to the office staff, the best deals go to the “in-house”.
You can get good deals, but insider deals happen all the time. It’s all about your network. It happens all the time.
They say, successful people build networks while poor people get a job, so you have to switch your mentality and make friends. The best way to get a network is through an introduction.
Question: How much would value a ’99 Accord sedan. Good condition. 175K, California title with new tires.
I would check with blue book. You can go to the online blue book to check. Another good way to check is to go to your local Craiglist and search for ’99 Honda Accord within your area and compare prices. See what other people are selling them for.
Question: I live in Chicago and what’s the best way to up a car that’s a few hours away?
You can have them meet you halfway and I have a way where you can get a couple of free tow truck hauls up to 250 miles every year, but if you want prefer to rent a trailer, go ahead and do so. I talk about that method within the VIP course so check out the F1 AutoCashFormula 2.0 program.
Question: How long should it take for you to sell a car?
Selling a car depends on your price point. Sometimes you could sell a car the next day, sometimes a week and yet sometimes, you’ll be sitting on a car for a month. On average, I like to get rid of my car within two weeks. Ideally, the first week after posting.
Question: How do I know if I am a member?
You’re missing out if you’re not a VIP. To become a member and to get exclusive access to all the stuff that I do, check out F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars.
Question: Anyone paid you with funny money?
I’ve never ran into that issue. You can buy those counterfeit pens on Amazon where you can detect these. You mark the dollar bill, if it makes a mark then you have funny money, if it doesn’t then you’re good. I take cash cashier’s check or money wire. Those are the three best ways to get payment.
Question: Have you ever hired somebody to go pick up a car for you?
Yes, I have, but only if they’re hundreds of miles away. I’ve bought a couple of cars off eBay where I hired a truck to bring it home.
That usually costs $400-$800, so have to make sure that you’re getting a good deal. I bought the Mazda Miata, I forgot which state it was from but it was like 400 to 500 miles away and I paid like $400 to $500 for a flat bed and bring it over to my house.
Question: Are you going to save this session on YouTube?
Yes, definitely. This will be uploaded in Youtube as soon as we go offline.
I bought a kei car here in Japan and I’m having it shipped back to my main home base in Dallas.
I’m going to make videos and document how to buy a car and how to get it registered here in Japan. The cool thing about Japan cars is there are a lot of different makes and models that are not sold in the US or anywhere in the world.
The yellow plate cars are called kei cars. They’re really small and most of them are like 650-cc. It’s basically a 3-cylinder engine with 14-inch rims.
They’re great for getting around town but it’s not good when you’re in it with your family. It’s noisy inside a little bit and a little wiggly and wobbly on the road.
I drove one and it’s really tiny. I love small cars and they look really cool, but driving a 2000 Mini has a lot more solid feeling versus driving in a kei car.
It feels cheap being in a kei car from where you’re used to being in a regular car. I’m going to buy a regular car here and probably another kei car.
I’m going to check out the auctions here in Japan as well. They also got the fish auctions in Tsukiji.
Question: How low below retail should you buy?
As low as possible. Always.
Question: Did you go to auctions when you were flipping cars?
Yeah, absolutely. I don’t flip as much as I used to, but I still flip cars for extra cash, around $4000-$5000 extra every month.
Making an extra $2000 to $3000 a month in flipping cars is easy peasy. If you follow all of the strategies in the F1 AutoCashFormula 2.0 program, you will achieve that.
I have VIPs with no flipping experience, but they seriously studied the program and put everything into action, they made $30,000 to $40,000 in their first year. So I know it works and this is not just one person, we have so many VIPs with this success story.
Question: Do you just flip from one source?
No. Absolutely not. You never want to flip from one source. You want to flip everywhere. You have to tell people that you’re doing it.
Question: What do you think about buying cars in the city and sell them in another city?
If you can do it, that’s a great idea. Why not?
Question: Most people don’t have a way to get into auctions. What are other sources do you recommend besides Craigslist and bumping into deals?
We cover that in the F1 Course. We have eBay and one of my main sources back in the day, PennySaver.
Check out our F1 AutoCashFormula 2.0 Program and once you become a VIP, you get access to my private videos that will take you step-by-step on how to get things done.
I received another testimonial recently from a VIP. It’s a father and son who started the program and made over $100,000 in profit on their first year. No B.S!
It may sound a little extreme, but the guy was like, “Tony, I’m not kidding. Your course was freaking amazing.” I was like, “Wow!”
That was amazing. My other top guy did around $55,000 in one year after going through the program, but this father and son tandem said they made over $100,000.
They left a comment on one of my videos, but I just can’t remember on which video. They’re supposed to give me more information and proof of their projects, but I have yet to receive them. I’ll share that with you when I receive it.
If you want us to cover a particular topic and want us to discuss something, send me an email. If you’re in my mailing list, you can reply directly to my email.
Part of my motivation for you is to pump you up and get started. Start looking for deals and get a good deal.
Once you get a good deal, you can sleep better at night and that’s money in your pocket. It’s better to invest your $3000 grand in a good deal than have that $3000 sitting in your bank and collect zero interest.
You have to constantly think of ways on how to make your money grow. Flipping cars for profit is a perfect way of doing this.
You can basically just roll your money. Start with $1000 and end with $10,000 or $20,000 in a year. Then, take that $10,000 or $20,000 and invest in another business.
You don’t have to buy and sell forever. It’s a great way to make extra money. That’s how you look at it. If you want to get serious, you can do a dealership, but I don’t recommend that. It’s more out of the pocket expenses for you because you have to go through a lot of things.
Why don’t you just flip a couple of cars a month, make your money, save your money and figure out other ways to grow that.
I’ve said this before, the average millionaire has seven streams of income. Flipping cars is one way to make extra $20,000 to $40,000 profit a year.
If you want to take that money and play with stocks, go ahead. I do that too. I’m actually starting to learn a little bit of forex and I’m publishing a book on Amazon. I plan to make four or five books on Amazon. I’m always trying to learn new ways of making money.
Question: I bought your F1 course back in 2009. The course is great and it works. In your opinion, what is the way to go out, sell low-priced cars or high-priced cars?
If you have the money, I would diversify and do both. You will always get that crowd once you have a nicer car, so you could go up into the $10,000 and above market.
This is where you have to actually start learning your market. Start seeing what people like in your market, then if you see a deal, scoop it. People are crazy about a nice BMW M3 and there’s also good at niching down.
Right now, I’m starting with a bad ass 2000 BMW Z3 M edition and I got it for a little over $13,000. I know if I sit on it for another five years, it’s going to be a classic. It has only 38,000 miles on it.
In ten years, it’s going to be worth $25,000 to $35,000, depending on the market. It’s money in the bank.
If I want to get rid of it tomorrow, I can probably get $16,500 to $17,500 for it, but it’s not like I want to liquidate the money. You also have to think of diversifying your money.
Don’t keep all your money in the bank. Have a little money in cars, have a little money over here and there. That way, if something happens in the economy or the market, you have other tangible assets where your money is in.
Question: Do you do all your deals in cash?
Yes, all are cash deals. I don’t do financing. That’s a whole different game. I don’t get into things that I don’t know much about. I like to go with cash or certified checks.
For all those who’ve joined VIP, you’ve made a smart decision because you’ve invested in yourself. It’s different when you get free information because you don’t value it as much.
But when you actually pay for something and invested in something, people are 90% more prone to taking action and getting things done. That’s a fact.
It’s like paying for coaching. You’re going to listen to what your coach is telling you and put it into action and that’s where you get the results.
It’s Tony from F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars. Thank you for coming on. For those of you who who wants to know more about flipping cars for profit, download the FREE Report on the F1 AutoCashFormula now.
I’ll see you all next week, same time at 9pm Eastern. We’ll be doing the auto body show tomorrow at the same time. That’s every Thursday at 9pm Eastern. I really appreciate your participation today. I enjoy connecting with all of you. You’re like my extended family. Please Like, Share and Subscribe to my videos.
Talk Soon! Cheers!
Tony
Other Helpful Links:
Is Curb-Stoning Illegal? How To Avoid The Trap and Flip Cars
How To Buy & Sell Cars For Profits – Negotiation Tactics 101
Money Getting Negotiating Secrets When Flipping Cars for Profit
Buying a Used Car on Craigslist – How To Spot a Scammer or Car Flipper