How To Get Started Buying and Selling Cars For Profit
1. Condition Your Mind To Find Deals (do some book work!)
When buying and selling cars for profit, my mistake early on was investing too much in cars that I personally wanted. I was not interested in what the mass market was looking for and I talk about this in a lot of my videos and show you a great way around this within my F1 AutoCash Formula Course. I just wasn’t thinking and didn’t realize that it wasn’t about me.
It was about them. Your buyers.
Research your market. No matter where you live you can do this.
It’s all based on knowing the market. What cars to buy, and what cars to sell for maximum sales.
Buying and selling cars can be tricky only if you don’t know your market and the numbers. The (PME) is VERY important when searching for deals and it’s all broken down inside F1.
Doing local market research is the key to success. As you surf online through whatever online classified that you choose to use you will start to find deals.
You will start to understand the market and you’ll be able to differentiate the good deals vs the bad deals QUICKLY.
You know when you like a car, you start to see them all over the place and other people driving them?
It’s the same thing with deals. It will start to come natural to you. The year of the vehicle and the prices listed will start to make sense as you surf and fish for deals.
Time and efficiency is KING.
Once you start to see the deals, they will start to pop up all ove the place. But I do admit some weeks you may spend a little more time searching for deals than others.
It all averages out.
I have had times where I go online and instantly find a deal within 10 minutes, call the seller, look at the car and make a cash deal within hours. It happens more than you think.
You need to be on TOP of your game and be proactive.
Consistency is also key here. You can’t get started, put an hour’s work in a week and expect to see results. Like anything, you must plant the seeds before seeing massive results.
What’s Really Going On at Automotive Auctions
Auto auctions are the NEW breeding ground for newbie car flippers. It’s been getting worse over the past 5 years.
Car dealers are selling ‘licenses’ to the general public (Joe Schmoe). Joe, gets to use the dealers license to buy cars at dealer auctions at the price of a monthly recurring fee (usually $300 – $1,500) depending on from who they get it from. Plus a one time setup fee to use the services.
Now, this specific dealer has a group of Joe’s paying a recurring income to him. And all Joe’s get to bid each other out. Creating war against each other.
Most of these guys just want to go in and score a deal for themselves so they end up driving the bid prices up all the way to the moon!
In the end, there is no room for profit.
I have been hearing so many people going to auctions and seeing the prices of cars go past speck values. It’s the nature of the beast.
Auctions and Insiders (Buying and Selling Cars for Profit)
If you don’t have the insider connection, auctions are not the best place to start. Notice I said not the best place to start, but you still can find great deals once you understand the game.
Once you understand the game and made a hand full of deals yourself, then I say you can go for the experience and maybe find a deal or two. If you want to learn more about auto auctions and see more videos on them, then see the links below:
Getting Started in The Private Party (P/P) Market
You have a LOT more chance of success and seeing wild returns on investments when buying and selling cars in the private party market. Make your first flip profitable.
Here is a great post below on some questions and answers in another popular post:
Please comment below. I would love to hear your thoughts 🙂
To learn more about our F1 Formula Course just go here. That link will show you what I’ve got for you, what it will do for you and what you need to do next to start buying and selling cars for profit.